South Boston Enterprise Zone Information

The South Boston Enterprise Zone Program is an economic development program designed to foster business investment and job creation through the provision of both state and local incentives.

Enterprise Zone Objectives:

StickPin Promote the area's revitalization through an increase in economic activity.
StickPin Stimulate private investment and job creation in the area.
StickPin Retain and expand commercial and industrial facilities within the zone.
StickPin Attract new industry and business to vacant sites within the zone.

Enterprise Zone Boundary:

StickPin Downtown Business District, Seymour Drive, John Randolph Blvd (Rt. 360), and the J. Aubrey Houghton Industrial Park.

Local Incentives:

StickPin Town will reimburse business license fees for five years at a rate of 100% year 1; 80% year 2; 60% year 3; and 40 % year 4 &  20% year 5.
StickPin Town will reimburse utility tax payments for five years at a rate of 100% year 1; 80% year 2; 60% year 3; and 40% years 4 & 20% year 5.
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StickPin An exemption from permit fees above the minimum charge for building, electrical, plumbing, erosion, sediment control, and rezoning permits.
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StickPin Loan pool/buydown in town limits of zone for purchase of property, rehabilitation for fasade renovations.

State Incentives:

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REAL PROPERTY INVESTMENT GRANT is based on qualified real property investments made by any individual or entity to a commercial, industrial, or mixed use building or facility in an enterprise zone.  The amount of the grant is 20 percent of the total cost of qualified real property investment and is capped per building or facility. The grant is capped at $100,000 per building or facility for investments less than $5 million and $200,000 for investments of $5 million or more.

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JOB CREATION GRANTS are based on permanent full time job creation, wage rates of at least 175% of the Federal minimum wage, and the availability of health benefits.  Local service, retail, food and beverage businesses are not eligible to apply for job creation grants.  The amount of the grant will be based on the wages paid for those positions.

For additional information on qualifying for the program, contact:

Erle Scott, Finance Director
455 Main Street South Boston, VA 24592
Phone:             (434) 575-4220     
Information request -- e-mail: escott@southbostonva.us

 Other incentives links:  

Federal and State Historic District Rehabilitation Tax Credits   http://www.dhr.virginia.gov/tax_credits/tax_credit.htm  

Resources for Virginia Downtowns

Click here for an introductory reference guide to the most frequently used resources for the revitalization of Virginia 's commercial districts. Includes brief explanations and contact information on financial incentives, loan and grant programs, and sources of technical and financial assistance.  

Technical Assistance Organizations:   Click here for a list of state and national organizations that provide technical assistance on a wide array of topics pertinent to downtown development, with contact phone numbers and websites.  

Business Assistance Programs   http://www.dhcd.virginia.gov/CD/Business_Assistance_Programs.htm  

The Community Development Block Grant Planning Grant Program can provide funding to local governments working in partnership with a downtown group begin the planning and organizing necessary to start comprehensive revitalization efforts.  

The Community Development Block Grant Community Improvement Program offers competitive grants to local governments working in partnership with downtown organizations to carry out physical improvements and economic restructuring activities targeted to revitalizing downtown commercial districts.

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