Virginia Enterprise Zone – Job Creation Grant
The Virginia Department of Housing and Community Development (DHCD) is committed to creating safe, affordable, and prosperous communities to live, work and do business in Virginia. DHCD partners with Virginia’s communities to develop their economic potential, regulates building and fire codes, train building officials, and invest more than $100 million each year into housing and community development projects throughout the state. The Community Revitalization Office of DHCD administers the Virginia Enterprise Zone Job Creation and Real Property Investment Grants.DHCD , Regional/Local Assistance , Statutory
The Virginia Enterprise Zone (EZ) program is administered by the Virginia Department of Housing and Community Development (DHCD) and is governed by § 59.1- Chapter 49 of the Code of Virginia. The goal of EZ is to encourage job creation and private investment in distressed communities, through a partnership between the State and local governments. The intent is to spur overall community economic growth and expansion by the use of two stand-alone, but complimentary incentives: the Job Creation Grant (JCG) and Real Property Investment Grant (RPIG).
JCG incentivizes the creation of permanent, full-time positions that earn at least 175% of the Federal Minimum Wage and receive health benefits. There is a job-creation threshold of 4 net new jobs to qualify for a JCG. Grants are calculated based on the wage rates of each eligible position, and the portion of the grant year that each position was filled.
When EZ was first created in 1982, the original program offered a set of tax credit incentives. In 2005, the program underwent a substantial reorganization with the passage of the 2005 Enterprise Zone Grant Act. The 2005 legislation replaced the existing tax credit programs with performance-based cash-grants in the form of the Job Creation and Real Property Investment Grants.
Sabra Dipping Company – Sabra Dipping Company, LLC is a leader in the refrigerated dips and spreads category and producer of America’s top-selling hummus. Sabra has received a JCG each year since 2011, for the over 400 new jobs in Chesterfield County’s Enterprise Zone. The company originally opened its state-of-the-art facility in 2010, and announced plans for a significant expansion in 2014.
Keurig Green Mountain – 25400 Old Mill Road, Windsor, VA. Keurig Green Mountain has created 420 jobs since they opened their new facility in Isle of Wight County in 2011. Employees at this facility roast, grind, and package coffee beans from around the world for the internationally recognizable Keurig K-Cup® Pods. To date, Keurig has received $402,119 in Job Creation Grants, and the company expects to receive additional funding this year for additional jobs created and real property improvements completed in 2015.