The Virginia Enterprise Zone (VEZ) program is a partnership between state and local government that encourages job creation and private investment. VEZ accomplishes this by designating Enterprise Zones throughout the state and providing two grant-based incentives, the Job Creation Grant (JCG) and the Real Property Investment Grant (RPIG), to qualified investors and job creators within those zones, while the locality provides local incentives.
Qualification for the Job Creation Grant (JCG) is based on permanent full-time job creation over a four job threshold, wage rates of at least 175 percent of the Federal minimum wage (150 percent in High Unemployment Areas), and the availability of health benefits. Personal service, retail, food and beverage positions are not eligible to receive job creation grants. All Enterprise Zones in SPDC (PD 13) are designated as High Unemployment Areas.
Eligibility for the Real Property Investment Grant (RPIG) is based on qualified investments made to commercial, industrial, and mixed-use buildings or facilities located within the boundaries of an Enterprise Zone. To be eligible for the RPIG, an individual or entity must invest at least $100,000 for rehabilitation or expansion projects and at least $500,000 for new construction projects.
All of SPDC’s counties are part of Virginia’s Enterprise Zone Program. The following are Enterprise Zones located in the Southside Planning District: