Virginia

Virginia offers a variety of programs to support job creation, workforce training, and economic development. Programs like the Virginia Jobs Investment Program (VJIP) and Enterprise Zone Job Creation Grant provide incentives and funding to help businesses grow while creating new employment opportunities across the state.

Virginia Jobs Investment Program (VJIP)

• Purpose: Supports new job creation and employee training.
• Eligibility:
  • Small Business New Jobs Program: Companies with 250 or fewer employees creating at least 5 new jobs.
  • Virginia New Jobs Program: Companies with more than 250 employees creating at least 25 new jobs.
• Benefit: Customized funding and services to offset recruiting and training costs.
• Application: Through the Virginia Economic Development Partnership.
• More info: Funding is based on a customized budget, assessed based on the company's recruiting and training activities.

Enterprise Zone Job Creation Grant

• Purpose: Encourages job creation in designated Enterprise Zones.
• Eligibility: Businesses creating at least 4 new full-time positions in an Enterprise Zone.
• Benefit:
  • Up to $500 per job annually for positions paying at least 150% of the federal minimum wage.
  • Up to $800 per job annually for positions paying at least 175% of the federal minimum wage.
• Application: Through the Virginia Department of Housing and Community Development.
• More info: Grants available for up to 350 positions per year for a five-year period.

Major Business Facility Job Tax Credit

• Purpose: Incentivizes large-scale job creation.
• Eligibility:
  • Tier 1: Companies creating at least 51 new jobs anywhere in Virginia.
  • Tier 2: Companies creating at least 26 new jobs in Enterprise Zones or economically distressed areas.
• Benefit: $1,000 tax credit per qualified full-time job above the threshold.
• Application: Through the Virginia Department of Taxation.
• More info: Credit is earned over a 2-year period, and employment levels must be maintained for 6 years.

Green and Alternative Energy Job Creation Tax Credit

• Purpose: Encourages creation of "green jobs" in renewable and alternative energy fields.
• Eligibility: Companies creating new green jobs with an annual salary of at least $50,000.
• Benefit: $500 annual tax credit for each new green job created.
• Application: Through the Virginia Department of Taxation.
• More info: Available for taxable years beginning before January 1, 2025.

Note: These programs emphasize job creation in small businesses, enterprise zones, and emerging sectors like green energy. For the most current information, verify details with relevant state agencies, as program specifics may change.