PRINCE EDWARD/FARMVILLE ENTERPRISE ZONEProgram Description' -

Prince Edward County's Enterprise ZoneProgram is a Commonwealth of Virginia,economic development program managed by theVirginia Department of Housing and CommunityDevelopment (DHCD), The State's EnterpriseZone Program is designated to offer state and localincentives for businesses to locate or expand withinthe designated zone areas, Prince Edward Countyhas one enterprise zone designation that includesportions of the Townof Farmville. Effective January1,2015, Prince Ed\vard County amended itsboundaries to include parts of th.e Prospect Districtcommunities making the expanded zone 2,859+/- acres.

by the. amount spent on qualified real propertyinvestments and is capped per building or facJityover a five-year term based on the cumulative levelof investment. RPIGs are capped up to $100,000per building/facJity for qualifying real propertyinvestments of less than $5 million. RPIGs arecapped up to $200,000 per buJding /facility forqualifying real property investment of $5 million

General Provisions

or more.

• The Real Property Investment Grants (RPIGs)and Job Creation Grants aCGs) are subjectto an annual appropriation by the GeneralAssembly. Beginning in qualification year2011, JCGs will receive funding priority. Afterfully funding the JCGs, the remaining fundswillbe allocated to the RPIGs and the amountpaid to each RPIG applicant will be pro-ratedproportionally should grant requests exceed theremaining amount of funding. The VirginiaLegislature has appropriated $11.9 mJlion forthe 2015 Enterprise Zone grant applications.

State Incentives -Real Pl-operly Investment Grants (RPIGs)

Wage-Based Jot Creation Grants GCOs)JCGs are based on net new permanent full-time

job creation exceeding a four-job threshold. Granteligiblepositions are those positions over the four-job threshold with wagesof at least 175% of thefederal minimum wage or 150% of federal minimumwagein High Unemployment Areas (HUAs) andthe availability of health benefits. (Prince EdwardCounty is a designated HUA for 2015), Firmscan receive grants for up to 350 grant eligiblepositions per year.

• RPG and JCG applications must be submittedto DHCD by close of business on April 1, 2016for the preceding calendar year.

,-::;;:Local Incentives ="'

RPIGs are available to qualified zone investorsin amounts up to 20% of the total amount ofinvestrnent exceeding the applicable investmentthresholds of $100,000 for rehab and expansionprojects, and $500,000 for new construction.

The dollar amount of the RPIG is determined

The dollar amount of the JCG is determined bythe wagesof the grant eligiblepositions. Grants areavailablein amounts of up to '500 per grant eligibleposition filled by an employee earning at least 175%of the federal minimum wageor 150% of federalminimum wage in HUAs and offered health benefits;or up to $800 per grant eligible position filled byan employee earning 200% of the federal minimumwageand offered benefits. Firms can receive JCGsfor five consecutive calendar years from the first yearof grant eligibility.

Local incentives have been established tocomplement and enhance the state enterprise zoneincentives. Examples of local incentives offeredby the County of Prince Edward and the Town ofFarmvJle include:

RPIGs are available fOl'investments made toindustrial, commercial, or mixed-use real propertylocated in an Enterprise Zone. A mixed-useproperty is a buJding incorporating residential usesin which a rninimurn of 30 per cent of the useablefloor space will be devoted to commercial, office orindustrial use. • Labor Pool Information

• Crime and Fire Prevention education

• Marheting Assistance

• Business Development Services

• Business Security Audits

• Business Worhshop Training Programs

Local Incentives Cont. D• Waiverof Building Permit Fees

• Site Purchase Discount/Prince EdwardBusiness Park

• Machinery & Tool Investment Grant/Prince Edward Business Park &Farmville Industrial Park

• Fast Track Permitting

• Waiverof 25% or $1,000, whichever isgreater, of water and sewer availabilityand tap fees.*

• A 5 year real estate tax investment crediton 100% of value of improvementsresulting from renovation work:

• Accelerated Development ReviewProcess'

• Architectural design fee reimbursementfor historic district *

• Waiver of land disturbance/soil and erosionpermit fees/West Third Street'

'Programs specific to the Town of Farmville.

For more detailed information concerning alocal incentive, including eligibility criteria,boundaries and deadlines, contact the County'sOffice of Economic Development.

For More Information Contact.ince Edward County Office of Economic Development

P.O. Box 625 • 121 East Third StreetFarmville, VA 23901

434/392-1482 • Fax 434/392-7886scarney@co.prince-edward.va.us

Printed 1/2016 • USA

ENTERPRISEZONE

County, Virginia

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Prince Edward/FarmvilleEnterprise Zone

For spec;J;c guidelines and locations, con tad: thePrince Edward County Office of Ecol1omic Development

434/392-1482 • scamey@co.prince-edward.va.us