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. The Virginia Enterprise Zone Program is a partnership between state and local governments that promotes economic development through job creation and real property investment. Used in conjunction with other available local, state, and federal programs, Enterprise Zones can leverage private sector investment in targeted areas throughout Virginia. The City of Hampton has two state-designated Enterprise Zones, the Hampton Roads Center and the Hampton Urban.
Qualification for the listed incentives is based on the calendar year and administered annually. All applicants (businesses and real properties) must be located within an enterprise zone.
Up to $500/year per net new permanent, full-time position earning at least 175% of the Federal minimum wage with health benefits.
UA lower wage threshold applies in localities designated high unemployment areas by DHCD; please visit the website for a list of HUAs.
Up to $800/year per net new permanent full-time position earning at least 200% of federal minimum wage with health benefits.
GRANT 1
BENEFIT
ELIGIBILITY REQUIREMENT
APPLICATION FORMS
GRANT TERM
Job Creation Grant
Up to $500/year per net new permanent, full-time position earning at least 175% of the Federal minimum wage with health benefits. UA lower wage threshold applies in localities designated high unemployment areas by DHCD; please visit the website for a list of HUAs. Up to $800/year per net new permanent full-time position earning at least 200% of federal minimum wage with health benefits.
Creation of at least four net new permanent full-time positions. Net new permanent full-time positions created over the four-job threshold that meet wage and health benefit requirements are eligible. Excludes retail, personal service, or food and beverage positions.
Required application forms:
EZ-JCG
JCG Worksheet
W-9
CPA Attestation Report
Available for a five-consecutive year term for net new permanent full-time positions above the four-job threshold which meet the wage and health benefit requirement.
Real Property Investment Grant
Up to $100,000 per building or facility for qualifying real property investments of less than $5 million. Up to $200,000 per building or facility for qualifying real property investments of $5 million or more. Grants are based on 20% of the investment amount above the required eligibility investment.
Commercial, industrial, or mixed-use buildings or facilities. For rehabilitation and expansion, at least $100,000 incurred in qualified real property investments. For new construction, at least $500,000 incurred in qualified real property investments.
Required application forms:
EZ-RPIG
Final Certificate of Occupancy/approved Final Building Inspection/or Third Party Inspection Report
Mixed-use building form (if applicable)
Tenant form (if applicable)
Multiple owner form (if applicable)
W-9
CPA Attestation Report
Capped per building or facility at a maximum of $200,000 within a five-consecutive year term.
1 (Virginia Department of Housing and Community Development) 2 Beginning with grant year 2011, business firms applying for a Job Creation Grant that have base year employment of 100 permanent full time positions or less and create 25 or less grant eligible positions are no longer required to submit a CPA attestation as part of their application materials.
3 Real Property grant awards may be subject to pro-ration should requests exceed grant funds allocated.