DHCD Announces How-To-Qualify Grant Workshop
DHCD Announces How-to-Qualify Grant Workshop to be held on January 27, 2025, for Hampton Roads Businesses located in a Virginia Enterprise Zone
If your business is located in a Virginia Enterprise Zone you may qualify for reimbursements from the Job Creation Grant (JCG) or the Real Property Investment Grant (RPIG) from the Department of Housing and Community Development (DHCD) for investment dollars spent in Grant Year 2024.
Job Creation Grant (JCG) – If a non-retail, for-profit business created five (5) or more full-time (or FTE) jobs in 2024 and paid 150% to 175% of Virginia state minimum wage ($18-21/hour) with benefits, that business could qualify for $500 to $800 per employee for any job created above the four (4) job threshold. SWaM certified businesses have a lower hourly wage requirement of only 125% of Virginia State minimum wage or $15 per hour paid to full-time equivalent employees in 2024.
Real Property Investment Grant (RPIG) – If a for-profit commercial/industrial business owner, developer, or tenant invests at least $500,000 on new construction of a building or facility or $100,000 on an expansion/rehabilitation of an existing building or facility, they may qualify to receive up to a 20% refund on any qualified real property investment dollars spent above those said threshold amounts. Thresholds may be lower if construction costs include installation of solar equipment.
How to Qualify Workshop on 1/27/2025 – The Virginia Enterprise Zone “How to Qualify” Workshop for the Hampton Roads area will be held on January 27, 2025, from 10:00am – 12:00 Noon at the Hampton Economic Development Department, located at 1 Franklin Street, Hampton VA 23669 in the Veterans’ Conference Room. Register HERE.
To learn more about the Virginia Enterprise Zones located in the City of Franklin or Southampton County, please reach out to your local zone administrator at Franklin Southampton Economic Development, Inc. at 757-562-1958 or visit us at fsediva.com.