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Incentive Programs

Stafford offers competitive solutions for business attraction.

Technology Zones

  • Incentives provided for new development and business expansion projects.
  • Incentives may include:
    • Economic Development Grants
    • Expedited review process
    • Assistance in obtaining other sources of funding

Competitive Tax Advantages

  • No gross receipts/BPOL tax
  • Aggressive Property Tax Depreciation Schedule
  • No boat tax
  • No aircraft tax
  • Low property tax rate
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Coordination services

  • Coordination of Community Meetings
  • Advocacy with State and Federal Agencies

Fast Track Permitting

  • Facilitates pre-development meetings with other departments and agencies

Hub Zones

• Located in area near Quantico base (Census Region #3)
Maps and information available from U.S. Small Business Administration

Incentive program details

Approval of local incentives is at the complete discretion of the Board of Supervisors.  For details, contact the Department of Economic Development.

Stafford County

Business Support

  • Confidential location searches
  • Streamlined permit and development review
  • Workforce recruitment and training grants via Regional Partners

Technology Zone Incentives for New Development or Business Expansion Projects
The Stafford County Board of Supervisors established a Technology Zone, incorporating a large portion of Stafford’s primary business areas within the zone boundaries.  Under the Technology Zone program, companies involved with technology-related operations that meet qualifying capital investment and job creation requirements may be eligible for expedited review processes, permit fee waivers, and tax relief.

Tax Incremental Financing (TIF)
TIF’s assist in financing development of unimproved or blighted land by dedicating the real estate property taxes to be generated by the built project to a TIF Fund for payment of the principal and interest on TIF Bonds.

Stafford County Opportunity Fund
The Opportunity Fund is a discretionary incentive available to secure a business location or expansion project for Stafford County.

Industrial Revenue Bonds
The Stafford Economic Development Authority can provide low-cost, tax-exempt financing for qualifying manufacturing projects and 501(C)(3) entities.

SBA – HUBZone Incentive
Stafford County has a Federal HUBZone (Historically Underutilized Business Zone) which encompasses areas near Marine Corp Base Quantico in Census Region #3. Benefits include Competitive and sole source contracting, and a 10% price evaluation preference in full and open contract competitions, as well as subcontracting opportunities

Fredericksburg Region

Rappahannock Economic Development Corporation (REDCO504)

The Rappahannock Economic Development Corporation is a regional Certified Development Company and licensed non-profit offering long-term, fixed rate financing for major fixed assets.

University of Mary Washington Small Business Development Center

The University of Mary Washington Small Business Development Center (UMWSBDC) is a resource center that provides assistance to the small business community via management training, industrial and demographic research, and confidential one-on-one consulting with a focus on capital access and management planning.

Commonwealth of Virginia

The Commonwealth offers 17 economic development incentive programs more accessible and transparent. Visit www.VirginiaIncentives.org  for more information.

 

Commonwealth’s Opportunity Fund

The Commonwealth’s Opportunity Fund (COF), formerly known as the Governor’s Opportunity Fund (GOF), 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.

 

Virginia Investment Partnership Act/Major Eligible Employer Grant

The Virginia Investment Partnership (VIP) Grant and the Major Eligible Employer Grant (MEE) 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.

 

The Virginia Economic Development Incentive Grant

The Virginia Economic Development Incentive Grant (VEDIG) 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.

 

Governor’s Agriculture and Forestry Industries Development Fund

The Governor’s Agriculture and Forestry Industries Development Fund (AFID) is a tool for communities within the Commonwealth to grow their agriculture and forestry industries through strategic grants made to businesses that add value to Virginia-grown agricultural and forestal products. AFID grants are made at the discretion of the Governor with the expectation that grants awarded to a political subdivision will result in a new or expanded processing/value-added facility for Virginia grown agricultural or forestal products, and with the expectation that the grant will be critical to the success of the project. The amount of an AFID grant and the terms under which it is given are determined by the Secretary of Agriculture and Forestry and subject to the approval of the Governor.

 

Tobacco Region Opportunity Fund

The Tobacco Region Opportunity Fund (TROF) makes grants to localities in Virginia’s tobacco producing regions to assist with specific projects that result in the creation of new jobs and investment. Grants are made to the community at the discretion of the Tobacco Region Revitalization Commission. The goal of the Fund is to attract competitive projects expected to have a regional impact due to the magnitude of new employment and investment, and the possibility of follow-on industry.

 

Port of Virginia Economic and Infrastructure Development Grant Program

The Port of Virginia Economic and Infrastructure Development Grant Program (POV Grant) provides a grant to certain Qualified Companies, as described below, to incentivize companies to locate new maritime-related employment centers or expand existing centers in specified localities in order to encourage and facilitate the growth of the Port of Virginia. This grant program is administered by the Virginia Port Authority.

 

Virginia Jobs Investment Program

The Virginia Jobs Investment Program (VJIP) is an incentive program offering customized recruiting and training assistance to companies that are creating new jobs or experiencing technological change. The program is designed to reduce human resource development cost by providing direct funding to qualifying new and expanding companies.

 

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

Worker Retraining Tax Credit

Virginia Port Tax Credit Programs

Research and Development Tax Credit

Green Job Creation Tax Credit

Sales and Use Tax Exemptions

 

Property Tax Exemptions

Virginia does not tax intangible property, manufacturers’ inventory, and manufacturers’ furniture, fixtures and corporate aircraft.

 

Economic Development Access Program

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

 

Rail Industrial Access Program

Provides funds to construct railroad tracks to new or substantially expanded industrial and commercial projects.

 

Transportation Partnership Opportunity Fund

TPOF is a discretionary grant available for transportation-related issues related to unique economic development projects.

 

Virginia Small Business Financing Authority

VSBFA offers programs to provide businesses with access to capital needed for growth and expansion.

 

Enterprise Zones

Virginia’s Enterprise Zone program provides state and local incentives to businesses that invest and create jobs within Virginia’s enterprise zones, which are located throughout the state.

 

Technology Zones

Virginia authorizes its communities to establish technology zones to encourage growth in targeted industries. Presently, 30 cities and counties and 6 towns have created zones throughout the state.

 

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.

 

Defense Production Zones

Virginia authorizes its communities to establish local defense production zones to benefit businesses engaged in the design, development, or production of materials, components, or equipment required to meet the needs of national defense. Companies deemed ancillary to or in support of the aforementioned categories would also apply.

 

Other Incentives:

 

GENEDGE – Manufacturing Extension Partnership

GENEDGE provides Virginia’s industrial and manufacturing sectors access to expert business services: operational excellence to improve profitability, technology solutions that lead to new products, market viability assessments, product design and development, sales and marketing strategies, business model management, exporting, connections with other business leaders through CEO Roundtables, and more.