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Virginia Incentives and Workforce Development Guide

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For a list of Virginia economic development agencies that can help with the site selection process, visit our Online Site Seekers’ Guide. Economic Development Access Program: Administered by the Virginia Department of Transportation, it assists localities in providing adequate road access to new and expanding basic employers.

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Feature Story: 2016 Economic Development Awards

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With such a large inventory of bridges and a sizeable backlog of repair needs, we looked to innovative solutions to address the problem,” said PennDOT Secretary Leslie S. defense department, with an additional $500 million in state and private investment. The big ports of Virginia, Baltimore and Miami already are at that depth.

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State by State Incentives Guide

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Inventory is exempt from property tax. Companies must be less than five years old; have an annual payroll between $100,000 and $1 million; show proof of an equity investment of at least $250,000; pay at least 150% of the lesser of the state or county average hourly wage where the business is located; and meet requisite payroll thresholds.

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STATE INCENTIVES GUIDE

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Loan proceeds are to be used for working capital, inventory, equipment purchase, and real property improvements but cannot be used for refinancing of existing debt or outstanding debt payments. EQUITY INVESTMENT TAX CREDIT: Targeted toward new, technology-based businesses that pay wages in excess of the state or county average wage.

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