TYPE OF ENTERPRISE ZONE GRANTS 

State of Virginia

Real Property Investment Grant:

Up to $100,000 per building or facility for qualifying real property investments of less than $5,000,000

Up to $200,000 per building or facility for qualifying real property investments over $5,000,000 

Job Creation Grant:

Up to $800 per year net new permanent full-time position

City of Richmond

Real Estate Tax Abatement:

A ten-year, real-estate tax abatement. 

Machinery & Equipment Rebate: 

A 50% rebate toward the purchase of new or used specialized machinery and equipment up to a maximum of $5,000.

Loan Fee Rebate:

A one-time award covering incurred loan financing fees up to a maximum of $1,000. 

Development Fee Rebate:

This fee rebate is dollar- for -dollar up to a maximum of $3,000.

Commercial Area Revitalization Effort (CARE)

The City of Richmond’s CARE Program is designed to revitalize and return economic viability to mature neighborhood districts. 

Exterior Rehabilitation: 

The city will rebate 50% up to $3,000 for renovation of and improvements to the exterior of a commercial space.

Interior Rehabilitation: 

The city will rebate 50% up to $3,000 for renovation and improvements to the interior of commercial space

Security Improvements: 

The city will rebate 50% up to $3,000 for security improvements to the commercial space.

Sprinkler System: 

The city will rebate 100% up to $7,500 for the connection of a water lateral line and/or installation of a sprinkler or fire suppression system.