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:
|Promote the area's revitalization through an increase in economic activity.|
|Stimulate private investment and job creation in the area.|
|Retain and expand commercial and industrial facilities within the zone.|
|Attract new industry and business to vacant sites within the zone.|
Enterprise Zone Boundary:
|Downtown Business District, Seymour Drive, John Randolph Blvd (Rt. 360), and the J. Aubrey Houghton Industrial Park.|
|Town will reimburse business license fees for five years at a rate of 80% year 1; 60% year 2; 40% year 3; and 20 % years 4 & 5.|
|Town will reimburse utility tax payments for five years at a rate of 80% year 1; 60% year 2; 40% year 3; and 20% years 4 & 5.|
|Waiver of water and sewer initiation fees to new or expanding businesses.|
|An exemption from permit fees above the minimum charge for building, electrical, plumbing, erosion, sediment control, and rezoning permits.|
|Below market rate loans for purchase of property, rehabilitation or facade renovations within the zone.|
|Revolving loan pool for small business development.|
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: email@example.com
Other incentives links:
Federal and State Historic District Rehabilitation Tax Credits http://www.dhr.virginia.gov/tax_credits/tax_credit.htm
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.