The Commonwealth of Virginia offers an array of discretionary incentives for competitive projects evaluating a Virginia location, providing financial inducements that make good fiscal sense for all parties. Performance-based incentives target the needs of companies as well as the development plans of localities and the Commonwealth.
Provides grants to localities for businesses that add value to Virginia-grown agriculture and forestry products
Provides “deal-closing” grants at the Governor's discretion to secure a company location or expansion in Virginia
Provides grants to companies to make investments and provide a significant number of stable jobs through a significant expansion or new operation
The Virginia Offshore Wind Supplier Development Grant (VOWSD) encourages existing Virginia companies to enter the offshore wind supply chain.
Provides grants to companies that invest and create new employment opportunities by locating significant headquarters, administrative, or service sector operations in Virginia
Provides grants to existing Virginia manufacturers or manufacturing-related research and development services that continue capital investment in the Commonwealth
The Virginia Department of Transportation (VDOT) and the Virginia Department of Rail and Public Transportation (DRPT) offer several programs to assist localities in providing adequate infrastructure access for industrial and commercial projects. These programs are designed to assist Virginia localities in attracting companies that will create jobs and generate tax revenues within the locality.
Provides funds to localities for road improvements needed to create adequate access for new or substantially expanding companies
Provides funds to construct railroad tracks to new or substantially expanded industrial and commercial projects having a positive impact on economic development in Virginia
Awards grants, revolving loans, or other financial assistance to an agency or locality for projects related to transportation capacity expansion
Virginia offers financial assistance and training to companies that seek to attract and retain qualified employees in the Commonwealth.
Provides services and funding to companies creating new jobs or implementing technological change to reduce human resource development costs for new companies, expanding companies, and companies retraining their employees
Provides world-class training and recruitment solutions that are fully customized to a company’s unique operations, equipment, standards, and culture. All program services are provided at no cost to qualified new and expanding companies as an incentive for job creation.