A discretionary incentive available to the Governor to secure a business location or expansion project for Virginia. Grants are awarded to localities on a matching basis, with the expectation that the grant will result in a favorable location decision for the Commonwealth. Grants are determined by using an ROI analysis that evaluates the project’s capital investment, number of new jobs, and average wage over a 3 year period.

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Provides monetary grants to localities in Virginia’s tobacco producing regions to assist in the creation of new jobs and investments, whether through new business attraction or existing business expansion. Grants are determined by using an ROI analysis that evaluates the project’s capital investment, number of new jobs, and average wage over a 3 year period.

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The Virginia Jobs Investment Program (VJIP) is a discretionary program that provides funding to companies creating new jobs or experiencing technological change to reduce the human resource development costs for new companies, expanding companies, and companies retraining their employees.

Funding for each net new full-time job created or full-time employee retrained is based on a customized budget determined by an assessment of the company’s recruiting and training activities, as well as the project’s expected benefit to the Commonwealth, and is subject to approval by the Secretary of Commerce and Trade.

For more information check out Virginia Economic Development Partnership’s website.

The Virginia Enterprise Zone program assist with business development and expansion in specially targeted areas throughout the state called “Enterprise Zones”. The following are the different enterprise zone grants available, through Department of Housing and Community Development.

Real Property Investment Grant

Real Property Investment Grants (RPIG) are cash grants are determined by the type and amounts of real property investment.   

Virginia Enterprise Zone Job Creation Grant

Job Creation Grants (JCG) are cash grants paid in annual installments per new qualifying job created over five years. Grants are determined by number of new qualifying jobs and current federal minimum wage rates.

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Opportunity Zones are a federal economic development and community development tax benefit established as part of the 2017 Tax Cuts and Jobs Act available to investors with capital gains designed to encourage long-term private investment in low-income urban, suburban and rural census tracts.

For more information visit DHCD’s website.

AFID grants are made to localities at the discretion of the Governor with the expectation that the grant will be critical to the success of a project, which will result in creation of new jobs and investment from companies that add value to Virginia-grown agriculture and forestry products.

Grants may be used for a variety of purposes, including public and private utility extension or capacity development on- and off-site; high-speed or broadband internet access extension or capacity development; road, rail, or other transportation access costs beyond the funding capability of existing programs; site acquisition; grading, drainage, paving, and any other activity required to prepare a site for construction; construction or build-out of buildings; or training.

For more program information, please refer directly to the Virginia Department of Agriculture and Consumer Services.