Northam renews 15 ‘enterprise’ zones to boost development
Virginia Gov. Ralph Northam is renewing 15 “Virginia Enterprise Zones” aimed at boosting economic development and private investment.
Northam announced Monday that the state was extending the designation to sites around Virginia for five years. The state partners with local governments through the program to provide incentives to businesses that invest in economically struggling areas.
Qualified businesses can receive of up to $800 per employee per year, as well as other types of grants. Northam’s office said businesses in the 15 zones have created more than 350 jobs and invested more than $63 million in real estate improvements.