Virginia Enterprise Zone Grant Year 2024 Applications are Due

Virginia Enterprise Zone Grant Year 2024 Applications are Due

Did you have significant expenditures for a commercial building expansion, rehabilitation, or new construction of a commercial business location in the City of Franklin or in Southampton County with a final placed-in-service document granted in 2024? Did you create 5 or more new full-time jobs with benefits in 2024? If your business is located in a Virginia Enterprise Zone (VEZ), you may qualify for the Real Property Investment Grant (RPIG) or the Job Creation Grant (JCG).

The Virginia Enterprise Zone (VEZ) program is a partnership between state and local government that encourages job creation and private investment. VEZ accomplishes this by designating Enterprise Zones throughout the state and providing two grant-based incentives, the Job Creation Grant (JCG) and the Real Property Investment Grant (RPIG), to qualified investors and job creators within those zones, while the locality provides local incentives.

Grant Year 2024

Applications for the upcoming grant year, Grant Year 2024 (GY24), are due April 1, 2025. The EZ Application Submission Portal will be open for submitting GY24 applications from January 1, 2025, to April 1, 2025. To check for eligibility or instructions on qualifying with either of these opportunities, please visit: https://www.dhcd.virginia.gov/vez or How-to-Qualify Enterprise Zone Webinar (Recording).

Questions: 

Contact the Virginia Department of Housing and Community Development (DHCD) at ezone@dhcd.virginia.gov or call 804-773-1322, or reach out to your local zone administrator, Franklin Southampton Economic Development, Inc. at 757-562-1958.