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Enterprise Zones
Location of Newport News' Three Virginia Enterprise Zones and Incentives Available.
The City of Newport News has three (3) Virginia Enterprise Zones, with one of the Enterprise Zones designated in two separate parts of the City. Virginia Enterprise Zones provide state and local grants and local tax abatements for qualifying for-profit companies that create new full-time jobs and new taxable investment. State and local incentives include:
 | A Real Property Investment Grant of up to $250,000 for new construction or renovation of a commercial, industrial or mixed-use building. The grant is equal to 20% of qualifying improvements for work costing $50,000 to $625,000; $125,000 for work costing between $650,000 to $5 million; and $250,000 for work costing more than $5 million. |
| A five-year Job Creation Grant of up to $800 for each qualifying job. After creating four qualifying jobs over a two-year period, the grant is equal to $500 for each additional job paying at least $9.02 per hour through July 23, 2007 and $10.24 per hour after July 24, 2007, with health benefits, and $800 for each additional job paying at least $10.30 per hour through July 23, 2007 and $11.70 per hour after July 24, 2007, with health benefits. Retail, restaurant, personal service and part-time jobs are not qualifying. The maximum annual Job Creation Grant is $280,000. |
| A partial abatement of the local business license fee. This abatement occurs over a ten-year period and is equal to 100% of the license fee in the first year, 80% in the second year and 60% in years three through ten. The maximum amount of the license fee that can be abated in any one year is $10,000. |
| A partial refund of local utility taxes. This also occurs over a ten-year period and is equal to 100% of the local tax on electric and natural gas and a portion of the state communications sales tax bills in the first year, 80% in the second year and 60% in years three through ten. |
| The Relocation/Expansion Cost Reduction Incentive. This is provided by the Newport News Economic Development Authority and is equal to the present value of three years of property taxes on new real estate and machinery paid to the City of Newport News. To qualify for this local incentive, a company must locate a target-industry facility in a Newport News Enterprise Zone, create at least 25 full-time jobs, pay an average of at least $10.00 per hour and must invest at least $2.5 million in new real estate and machinery. This incentive cannot be combined with other local Enterprise Zone incentives. |
Fact Sheets that describe these incentives and provide more detail on qualification criteria are available in PDF format by clicking on the links below. Application forms for local enterprise zone incentives are also available in PDF format. If you do not have a PDF viewer, such as Adobe Acrobat Reader, installed on your computer, you may download it free.
| Fact Sheet | Application for Eligibility | Application for Recertification |
|---|---|---|
| South Enterprise Zone | South Enterprise Zone | South Enterprise Zone |
| Mid-City Enterprise Zone | Mid-City Enterprise Zone | Mid-City Enterprise Zone |
| North Enterprise Zone | North Enterprise Zone | North Enterprise Zone |
Please Note—Forms must be signed and mailed to: | ||
| Maps are also available | ||
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