Rockingham County Incentives

Rockingham County and the Commonwealth of Virginia are committed to helping new and expanding employers succeed. A number of incentives programs are available, which range from tax credits and tax exemptions to grants and customized workforce development programs. 

Featured below is an overview of the opportunities that are available. For additional details about eligibility and application processes, please contact Rockingham County Economic Development. Our team is here and ready to assist you. 

Technology Zones

Virginia authorizes its communities to establish technology zones to encourage growth in targeted industries. Presently, 27 cities and counties and 3 towns have created zones throughout the State. Rockingham County has established several technology zones. To learn more, please call our office to inquire about technology zones and how grants may be available in the future.

State Incentives

Commonwealth Opportunity Fund

This fund is a discretionary incentive available to the Governor to secure a business location or expansion project for Virginia. Grants are awarded to localities on a local matching basis with the expectation that the grant will result in a favorable location decision for the Commonwealth.

Agriculture & Forestry Industries Development Fund

The Agriculture and Forestry Industries Development Fund (AFID) is a discretionary, performance-based economic development incentive available to the Governor specifically for agriculture and forestry value-added or processing projects in Virginia.

Virginia Investment Partnership Act

The Virginia Investment Partnership (VIP) Grant and the Major Eligible Employer (MEE) Grant are discretionary performance incentives designed to encourage continued capital investment by Virginia companies, resulting in added capacity, modernization, increased productivity, or the creation, development and utilization of advanced technology.

Virginia Economic Development Incentive Grant 

This is a discretionary performance incentive, designed to assist and encourage companies to invest and create new employment opportunities by locating significant headquarters, administrative or service sector operations in Virginia.

Clean Energy Manufacturing Incentive Grant

The Clean Energy Manufacturing Incentive Grant (CEMIG) is a discretionary performance incentive, designed to encourage clean energy manufacturers to grow in Virginia.

Virginia Jobs Investment Program

The Virginia Jobs Investment Program (VJIP) is a program that offers customized recruiting and training assistance to companies that are creating new jobs or experiencing technological change. 

Corporate Income Tax Credits

Virginia offers a variety of tax credits that are available for use against a company's corporate tax liability: 

• Major Business Facility Job Tax Credit
• Recycling Equipment Tax Credit
• Day Care Facility Investment Tax Credit
• Worker Retraining Tax Credit
• Virginia Port Tax Credit Programs
• Research and Development Tax Credit
• Green Job Creation Tax Credit

Sales and Use Tax Exemptions

Virginia offers some of the broadest sales and use tax exemptions in the U.S. 

Property Tax Exemptions

Virginia does not tax intangible property, manufacturers' inventory, manufacturers' furniture, fixtures or corporate aircraft. 

Economic Development Access Program

Administered by the Virginia Department of Transportation (VDOT), this program assists localities in providing adequate road access to new and expanding basic employers. 

Virginia Small Business Financing Authority

The Virginia Small Business Financing Authority (VSBFA) offers programs to provide businesses with access to capital needed for growth and expansion.

Foreign Trade Zones

Virginia offers six foreign trade zones designed to encourage businesses to participate in international trade by effectively eliminating or reducing customs duties.

Also, numerous subzones are provided and additional ones can be designated to enhance the trade capabilities of specific companies.