New or expanding businesses located on an Enterprise Zone parcel may qualify for an Enterprise Zone incentive grant if the establishment or expansion of the business creates jobs or requires a real-property investment.
Established by the General Assembly in 1982, the Virginia Enterprise Zone Program is a partnership between the state and local governments to stimulate job creation and private investment within designated areas throughout Virginia. Currently, the Northern Neck has over 11,000 acres designated as enterprise zones.
Enterprise Zones offer businesses a package of state and local incentives in the form of tax relief and grants, local regulatory flexibility, and local infrastructure development.
State Enterprise Zone Incentives
1) Job-creation grant
2) Real-property-investment grant
For up-to-date details, visit the Virginia Enterprise Zone (VEZ) page.
Local Enterprise Zone Incentives
1) All Enterprise Zone Parcels in the Northern Neck
Monetary incentive for new and expanding businesses that create 25 new full-time jobs, invest $250,000, and have an average annual wage that is at least 125% of the area average.
2) Additional for Lancaster County
Grants not to exceed $1,000 to businesses improving their property’s façade. Zero-percent-interest loans for micro-enterprise development. A tax credit for businesses rehabilitating property within the zone.
3) Additional for Richmond County
Financial inducement for businesses creating at least 25 jobs and investing $250,000 or above on industrially-zoned properties in the Zone, and paying employees an average annual wage of at least 115 percent of the area average.
Ten-year decreasing property tax exemption of the increase in assessed value of certain rehabilitation of commercial or industrial properties.
4) Additional for the Town of Kilmarnock
At the Kilmarnock Business and Technology Park, the Town offers businesses exemptions from zoning permit fees, water and sewer connection fees, business, professional and occupational licenses, auto decal fees, and subdivision permit fees.
5) Additional for the Town of Warsaw
Matching grants up to $1,000 to zone businesses making façade improvements. Three-year 50% tax credit (Town tax only) on the assessed value of a new building in the zone costing at least $100,000.
Which Northern Neck Parcels are in the Zone?
Use the interactive map below to view Enterprise Zone areas throughout the Northern Neck. Areas shaded in red on the photograph are within the Northern Neck Enterprise Zone.
Note: These maps are for reference only. For final confirmation of Enterprise Zone status for any given parcel, please contact the Northern Neck Planning District Commission at (804) 333-1900.