Governor Kaine Announces Four Virginia Enterprise Zone Designations
– Halifax County, City of Galax, City of Waynesboro and Wise County receive enterprise zones to attract new businesses and jobs –
RICHMOND – Governor Timothy M. Kaine today announced Virginia Enterprise Zone (VEZ) designations in the cities of Galax and Waynesboro and the counties of Halifax and Wise. Each locality will use state and local enterprise zone incentives to create jobs, promote private investment and support the overall growth of the local economy.
The new designations are retroactive to January 1, 2008.
"This is another important step towards creating more jobs and more opportunities in distressed areas of the Commonwealth," Governor Kaine said.
VEZ supports job creation and private investment through grants based on real property investment and the numbers of jobs created. For example, businesses can earn up to $250,000 based on the Real Property Investment Grants, and upwards of $500 per position created, depending on the wages offered.
"The Virginia Enterprise Zone program, through both the real property investment and job creation incentives, has been an effective economic development instrument in bringing business and investment to disadvantaged areas of the Commonwealth," said Secretary of Commerce and Trade Patrick O. Gottschalk.
The Virginia Department of Housing and Community Development (DHCD) administers the VEZ program. There will now be 56 enterprise zones throughout the Commonwealth.
For more information about the VEZ program call (804) 371-7030 or visit www.dhcd.virginia.gov.
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