GRANT YEAR 2021
Applications for Grant Year 2021 will be due April 1, 2022. Zone investors that created grant-eligible jobs in calendar year 2021 (January 1, 2021 - December 31, 2021) and zone investors that received final placed-in-service documentation for qualified real property investments in calendar year 2021 (January 1, 2021- December 31, 2021) are eligible for Grant Year 2021. Instruction manuals and Agreed Upon Procedures for the CPA Attestation are now available at the links below.
VEZ State Incentives are available to businesses and zone investors who create jobs and invest in real property within the boundaries of enterprise zones.
- 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 HUAs*), and the availability of health benefits. Personal service, retail, food and beverage positions are not eligible to receive job creation grants. **As of 2010, firms located in High Unemployment Areas (HUAs) may qualify for the JCG at the reduced wage rate threshold of $10.88 (150 percent of the Federal minimum wage). A list of HUAs is provided below in the Helpful Links section of this page.
- Eligiblity 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.
For more information about state incentive eligibility criteria and grant awards please reference the Virginia Enterprise Zone Grant Matrix under the “Helpful Links “section.
Real Property Investment Grant and Job Creation Grant applications should be submitted to DHCD (electronic submission only; hard copies NOT accepted) by April 1, 2022, along with a copy of the Commonwealth of Virginia W-9 Form.
FUNDING ALLOCATION REVISIONS
In an effort to prioritize job creation, Job Creation Grants will receive funding priority should grant request exceed available funds. In the event that grant requests exceed allocated funding, Real Property Investment Grants may be subject to proration.
JOB CREATION GRANT REVISIONS
The Virginia Enterprise Zone (VEZ) Job Creation Grant (JCG) has reduced the wage rate threshold for job grants in areas with unemployment rates that are equal to or more than one and one-half times the state average to 150 percent of the federal minimum wage or $10.88 to receive grants. High unemployment area zones authorized by this new provision are listed on the link below.
|Wage Rate Threshold*||Grant Per PFTE||Eligible Businesses|
In addition to state incentives, each locality offers its own package of incentives tailored to their unique needs. To find out whether a business or real property is located within an enterprise zone, or to learn more about a specific zone’s local incentive package, see the contact list of Local Zone Administrators.