- New Company Incentive Program offers an exemption from corporate income tax, and up to $2,000 per new job, for companies with no employment or property in the state prior to January 1, 2018 and that meet statutory investment and employment requirements.
- Economic Development Access Program provides funds to localities for road improvements needed to create adequate access for new or substantially expanding companies.
- Rail Industrial Access Program provides funds to construct railroad tracks to new or substantially expanded industrial and commercial projects having a positive impact on economic development in Virginia
- Major Eligible Employer Grant Program (MEE) provides grants to companies to make investments and provide a significant number of stable jobs through a significant expansion or new operation
- Port Volume Increase Tax Credit benefits manufacturing, distribution, agriculture, and mineral and gas companies that utilize Virginia’s port facilities. A company that increases its usage by 5% in a single calendar year over its base year of port cargo volume can receive $50 per TEU in excess over the previous year’s cargo volume
- Recyclable Materials Processing Equipment Tax Credit is available to manufacturers for the purchase of certified machinery and equipment used for processing recyclable materials in taxable years beginning before January 1, 2025.
- Refundable R&D Expenses Tax Credit offers individual and corporate income tax credit for taxpayers with qualified research and development expenses in Virginia under $5 million per year
- Worker Training Tax Credit offers employer tax credit of 35% for eligible training costs of eligible worker training to qualified employees, or for the direct costs of providing manufacturing training or instruction to middle and high school students.
- Port Volume Increase Tax Credit benefits manufacturing, distribution, agriculture, and mineral and gas companies that utilize Virginia’s port facilities. A company that increases its usage by 5% in a single calendar year over its base year of port cargo volume can receive $50 per TEU in excess over the previous year’s cargo volume
- Recyclable Materials Processing Equipment Tax Credit – An income tax credit is available to manufacturers for the purchase of certified machinery and equipment used for processing recyclable materials in taxable years beginning before January 1, 2025.
- Refundable R&D Expenses Tax Credit offers individual and corporate income tax credit for taxpayers with qualified research and development expenses in Virginia under $5 million per year.
- Worker Training Tax Credit offers employer tax credit of 35% for eligible training costs of eligible worker training to qualified employees, or for the direct costs of providing manufacturing training or instruction to middle and high school students.
- Barge and Rail Usage Tax Credit offers per-unit credit for “international trade facilities” that transport containers using barge or rail, rather than trucks or other motor vehicles on Virginia’s highways
- Green Job Creation Tax Credit offers annual individual or corporate income tax credit for each new green job in the field of renewable or alternative energy
- International Trade Facility Tax Credit offers income tax credit for capital investment or job creation related to an international trade facility
- Major Business Facility Job Tax Credit offers $1,000 income tax credit for each new full-time job created over a jobs threshold for companies locating or expanding in Virginia
- Major R&D Expenses Tax Credit offers individual and corporate income tax credit for incurring more than $5 million of Virginia qualified research and development expenses in taxable years beginning on or after January 1, 2016
- Commercial and Industrial Sales & Use Tax Exemption offers sales and use tax exemption for purchases used directly in production or research and development
- Data Center Retail Sales & Use Tax Exemption offers exemption for qualifying computer equipment or enabling software purchased or leased for use in certain data centers in the Commonwealth that meet minimum investment and job creation requirements
- Transportation Partnership Opportunity Fund (TPOF) awards grants, revolving loans, or other financial assistance to an agency or locality for projects related to transportation capacity expansion
- Foreign Trade Zones (FTZs) allows businesses to defer paying U.S. Customs duties on imported goods held within the zones until the goods enter the United States for domestic consumption
- Tobacco Region Opportunity Fund (TROF) provides performance-based grants and loans to localities in Virginia’s tobacco-producing regions (34 counties and six cities in southern and southwestern Virginia)
- Virginia Coalfield Economic Development Authority (VCEDA) Financing provides low-interest loans or grants to qualified new or expanding businesses in a seven-county, one-city region in southwestern Virginia
- Enterprise Zone Job Creation Grant provides grants to businesses that create high-wage, full-time, permanent positions with health benefits in an Enterprise Zone that are net new jobs for Virginia
- Enterprise Zone Real Property Investment Grant provides grants to investors that undertake rehabilitation, expansion, or new construction projects within the boundaries of an Enterprise Zone
- Port of Virginia Economic and Infrastructure Development Grant (POV Grant) provides grants to companies that construct new maritime-related employment centers or expand existing centers
- Virginia Economic Development Incentive Grant (VEDIG) provides grants to companies that invest and create new employment opportunities by locating significant headquarters, administrative, or service sector operations in Virginia
- Agriculture & Forestry Industries Development Fund (AFID) provides grants to localities for businesses that add value to Virginia-grown agriculture and forestry products
- Commonwealth’s Development Opportunity Fund (COF) provides “deal-closing” grants at the Governor’s discretion to secure a company location or expansion in Virginia
- Virginia Investment Performance Grant (VIP) provides grants to existing Virginia manufacturers or manufacturing-related research and development services that continue capital investment in the Commonwealth.
