Page 7 - Emporia VA Economic Development

Incentives
State Incentives
Real Property Investment Grant
Qualified real property investments in an industrial, commercial, or mixed-use building or facility within the boundaries of a designated Virginia Enterprise Zone.
Job Creation Grant
Job creation grants up to $800 per job per year for 5 years for a minimum of 5 new jobs created within a designated Virginia Enterprise Zone. Other requirements apply.
Local Incentives
Business, Professional & Occupational License Grant (BPOL)
Provides grants to new businesses based on the net increase in BPOL tax paid for the first 5 years of eligibility.
Business Incubation Grant (BIG)
Assists start-up businesses occupying industrial, commercial, and mixed-use properties within the Enterprise Zone with rental costs for the first full year of operation.
Business Personal Property Grant (BPP)
Assists both new and expanding businesses within the Enterprise Zone area.
Facade Improvement Grant (FIG)
Assists with enhancing the physical appearance and economic viability of properties and businesses within the Enterprise Zone area.
Machinery & Tools (M&T) Investment Grant
Assists both new and expanding businesses within the Enterprise Zone area, based on the net increase in M&T tax paid over the initial base year for the first 10 years of eligibility.
Real Estate Tax Abatement
Provides a 100% exemption from real estate taxes for substantially rehabilitated, renovated, or replacement of commercial or industrial properties for 10 years.
Zoning & Building Permit Fee Waiver
Provides a 100% waiver to businesses who incur zoning and building permit fees. The business must be within the Enterprise Zone.
Water & Sewer Tap Fee Waiver
Provides a 100% waiver to businesses who incur water and sewer tap fees. The business must be within the Enterprise Zone.
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