Business incentives are available to qualifying companies that locate in the Richmond Region. Below is a sample list:

Program Name Program Description
Sales and Use Tax Exemption Tax exemption from the Retail Sales and Use tax for eligible computer equipment for use in data centers.
Commonwealth’s Development Opportunity Fund Designed as a “deal closing” fund to be employed at the Governor’s discretion when necessary to secure a company location or expansion in Virginia.
Virginia Jobs Investment Program The Virginia Jobs Investment Program (VJIP) is an economic development cash grant incentive supporting the creation of new jobs and investment throughout the Commonwealth and specifically addresses the top concern of existing businesses as well as economic development prospects, i.e. finding and developing a skilled workforce.
Workforce Investment Act The Workforce Investment Act (WIA) provides federal funding for employment and training activities to enhance productivity and competitiveness. In Virginia WIA is administered at the state level by the Virginia Community College System.
Workforce Services Program Workforce Services, a division of the Virginia Department of Business Assistance, provides customized recruiting and training services to companies creating new jobs or experiencing technological change.
Worker Retraining Tax Credit Virginia employers will be eligible to receive an income tax credit equal to 30 percent of all expenditures made by the employer for eligible worker retraining.
Enterprise Zone Program The program assists business development and expansion in specially targeted, economically distressed areas.
Economic Development Loan Fund Funds are provided for fixed asset financing to new and expanding industries that are creating new jobs or saving “at risk” jobs in Virginia.
Virginia Economic Development Incentive Grant Assists and encourages companies to invest and to provide new employment opportunities by locating significant headquarters, administrative, research and development and/or similar service and basic sector operations in Virginia.