STATE INCENTIVES
Agriculture & Forestry Industries Development Fund (AFID)
Governor’s discretionary grant fund designed to grow Virginia’s agriculture and forestry industries.
https://www.vedp.org/incentive/afid
Commonwealth Opportunity Fund (COF)
Governor’s discretionary deal closing grant fund.
https://www.vedp.org/incentive/commonwealths-development-opportunity-fund-cof
Major Eligible Employer Grant Program (MEE)
The Major Eligible Employer Grant Program (MEE) is a discretionary program used to encourage major basic employers to invest in Virginia and to provide a significant number of stable employment opportunities by either making a significant expansion to existing operations or constructing new ones. There must be an active and realistic competition between Virginia and another state or country for attracting the project.
https://www.vedp.org/incentive/major-eligible-employer-grant-program-mee
Port of Virginia Economic and Infrastructure Development Grant (POV)
The Port of Virginia Economic and Infrastructure Development Grant (POV Grant) is designed to incentivize companies to locate new maritime-related employment centers or expand existing centers to encourage growth of The Port of Virginia. POV Grants are administered by the Virginia Port Authority.
https://www.vedp.org/incentive/pov-grant
Virginia Economic Development Incentive Grant (VEDIG)
The Virginia Economic Development Incentive Grant program (VEDIG) assists and encourages companies to invest and create new employment opportunities by locating significant headquarters, administrative, or service sector operations in Virginia. There must be an active and realistic competition between Virginia and another state or country for attracting the project.
https://www.vedp.org/incentive/virginia-economic-development-incentive-grant-vedig
Virginia Investment Performance Grant (VIP)
The Virginia Investment Performance Grant (VIP) encourages continued capital investment by existing Virginia companies, resulting in added capacity, modernization, increased productivity, or the creation, development, and utilization of advanced technology. The program targets existing manufacturers or research and development services supporting manufacturing. There must be an active and realistic competition between Virginia and another state or country for attracting the project and matching local financial participation is expected.
https://www.vedp.org/incentive/virginia-investment-performance-grant-vip
Virginia Small Business Financing Authority (VSBFA)
VSBFA provides businesses and localities with debt financing resources for economic development projects and other small business and entrepreneurial financing needs. VSBFA’s definition of “small business” is $10 million or less in annual revenues over each of the last three years, or a net worth of $2 million or less, or fewer than 250 employees in Virginia, or qualification as a 501(c)(3) nonprofit entity.
https://www.vedp.org/incentive/virginia-small-business-financing-authority-vsbfa
Virginia Jobs Investment Program (VJIP)
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.
https://www.vedp.org/incentive/virginia-jobs-investment-program-vjip
Rail Industrial Access Program
The Rail Industrial Access (RIA) program provides funds to construct railroad tracks for new or substantially expanded industrial and commercial projects having a positive impact on economic development in Virginia.
https://www.vedp.org/incentive/rail-industrial-access-program
Virginia Enterprise Zone – Job Creation Grant
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 local government provides local incentives.
https://www.vedp.org/incentive/virginia-enterprise-zone-job-creation-grant
Virginia Enterprise Zone – Real Property Investment Grant
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.
https://www.vedp.org/incentive/virginia-enterprise-zone-real-property-investment-grant