Qualification for real property investment grants requires the participant spend a minimum of $100,000 in qualifying investments for commercial, industrial, or mixed-use buildings or facilities or rehabilitation and expansion or a minimum of $500,000 in qualifying investments for new construction. Participants may qualify for reimbursements for up to 20% of the qualified costs in excess of the minimums. For example, if you spent $150,000 in qualifying expenses in renovating a business property in the Enterprise Zone, you could be eligible for a grant up to $10,000. The amount of the reimbursements will depend on state funds available for reimbursement as well as total caps on funds depending on the type and amount of investment.

For job creation grants, funds are available for net new permanent full time positions that pay a minimum of $18.00 per hour as well as provide health benefits. Certain categories of positions, such as retail, personal service, or food and beverage positions, are excluded. A minimum of 5 new permanent full-time positions must be created in order to qualify for funding.

For complete information on these programs, please follow the link to the Virginia Department of Housing and Community Development (DHCD) Enterprise Zone Site.

In addition to State Enterprise Zones, Accomack County offers several incentives for qualified activities including:

Most of the local incentives have requirements on minimum increases in value, etc., so please check with Tom Brockenbrough at (757) 787-5797 or (757) 824-5324 or email to tbrockenbrough@co.accomack.va.us to see if you qualify.

Timeline: 
If you plan to apply for State Job Creation Grants (JCG) or Real Property Improvement Grants (RPIG) based on employment or construction activity completed during 2024 you have until April 1, 2025 so submit an online application to DHCD.  The window should open to begin completing the online application should open in January 2025.  DHCD will conduct several How To Apply Workshops and, as they are scheduled, information on them will be provided here.  The workshops are free but registration is required.

If you wish to verify whether or not a property you own or are considering owning is in the Enterprise Zone, the information is available on AccoMap - Accomack County's Online Mapping Service

Accomack's Enterprise Zone is part of a Joint Enterprise Zone with Northampton County.  For further information on Northampton's Enterprise Zone, please see their information online at http://www.co.northampton.va.us/enterprise.html or call Janice Williams (757) 678-0440 ext 516.