Incentives
State & Federal Incentives
Hub Zone
The Hub Zone Program provides small businesses located in designated Hub Zone census tracts with federal contracting opportunities. Administered by the U.S. Small Business Administration.
Historic Rehabilitation Tax Credits
The Historic Rehabilitation Income Tax Credits – Reductions in federal and state income tax liability is for private taxpayers who rehabilitate historic buildings. For information about state credits, contact the Virginia Department of Historic Resources. For information about federal credits, visit the Internal Revenue Service (IRS) website.
Opportunity Zones
Opportunity Zones are a new community development program established by Congress in the Tax Cuts and Jobs Act of 2017 to encourage long-term investments in selected census tracts. The tax incentive offers three benefits; tax deferral, tax reduction through long-term investment, and exclusion of certain capital gains tax.
Virginia Jobs Investment Program
The Virginia Economic Development Partnership’s (VEDP) Virginia Jobs Investment Program (VJIP) provides services and funding to companies creating new jobs or experiencing technological change.