State Incentives

Virginia Ranks among the Top States to do Business

Incentives are subject to approval by federal, state and local government agencies contingent upon the execution of performance agreements by the company.

Commonwealth of Virginia Governor’s Opportunity Fund

The Governor's Opportunity Fund provides either grants or loans to localities to assisting the creation of new jobs and investment in accordance with criteria established by legislation.

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Virginia Enterprise Zone

In 2005, the Enterprise Zone Act went into effect. Under this program two grant-based incentives are available:

  • Job Creation Grants and
  • Real Property Investment Grants

Tazewell County is Zone 44 of Virginia's Enterprise Zone.  Areas in the county that are potentially focussed on commercial, industrial and mixed use buildings have been designated as in the Enterprise Zone.  Each year consideration is given to adding, deleting or changing these areas to maximize the incentive opportunities. Click here for a current map of Zone 44.

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The Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development (DHCD), assists with business development and expansion in specially targeted areas throughout the state called Enterprise Zones. Click here for more information.

Virginia Jobs Investment Program (VJIP)

The Virginia Jobs Investment Program (VJIP) provides services and funding to companies creating new jobs or experiencing technological change.

Currently, the Virginia Jobs Investment Program offers three programs to both new and existing businesses: New Jobs Program, Small Business New Jobs Program and Retraining Program Eligibility for assistance in any of the programs offered by the Virginia Jobs Investment Program.  VJIP is limited to projects that create basic employment for the Commonwealth and only for-profit companies in the following business sectors will qualify:

  • Manufacturing
  • Distribution Centers
  • Corporate HQ’s for Companies with Multiple Facilities (only HQ support positions will be funded)
  • Inbound Call Centers
  • Information Technology Services Exclusively for Businesses
  • Research and Development Facilities

Click here for more information

Virginia Economic Development Grant (VEDIG)

The Virginia Economic Development Incentive Grant (VEDIG) is a discretionary performance incentive, designed to assist and encourage companies to invest and create new employment opportunities by locating significant headquarters, administrative or service sector operations in Virginia.

VEDIG Overview
VEDIG Guidelines

Major Business Facilities Job Tax Credit

Governor's Agriculture and Forestry Industries Development Fund (AFID)

The Governor's Agriculture and Forestry Industries Development Fund (AFID) is a tool for communities within the Commonwealth to grow their agriculture and forestry industries through strategic grants made to businesses that add value to Virginia-grown agricultural and forestal products.

AFID Program Overview
AFID Summary
AFID Program Guidelines

Virginia Small Business Financing Authority (VSBFA)

The Virginia Small Business Financing Authority (VSBFA) stands ready to assist those businesses and non-profit organizations looking to grow in Virginia, the local economic development authorities and municipalities needing debt financing to attract businesses into their jurisdictions, as well as bankers seeking to find creative ways in which to make that next loan to a small business.  Click here for more information.

Economic Development Access Program

The Economic Development Access Program assists localities in providing adequate road access to new and expanding manufacturing or processing companies, research and development facilities, distribution centers, regional service centers, corporate headquarters, or other basic employers. The Virginia Department of Transportation (VDOT) administers this program.

Economic Development Access Program Overview
Economic Development Access Program Guide
Economic Development Access Road Policy
Economic Development Access Program Checklist

Rail Industrial Access Program

Provides funds to construct railroad tracks to new or substantially expanded industrial and commercial projects.  Click here for more information.