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Contact Information:

Carl Snodgrass
Economic Dev. Director/
Wise Co. IDA Exec. Director

County of Wise VA
Economic Development
206 E. Main St., Rm. 223
P.O. Box 570
Wise VA 24293

(276) 328-2321
(276) 328-9780 Fax

Office Hours:
Monday - Friday
8:00 AM - 4:30 PM

Business & Economic Development

Wise County Enterprise Zone

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ENTERPRISE ZONE

The Wise County Board of Supervisors adopted an ordinance to amend the Wise County Code to provide for the establishment of the Wise County Enterprise Zone Acrobat Reader required.

STATEMENT OF PURPOSE:
The purpose of Article amending the Wise County Code is to stimulate business and industrial growth within the area so designated as the Wise County Enterprise Zone Acrobat Reader required by means of state and local incentives.

BOUNDARIES OF THE WISE COUNTY ENTERPRISE ZONE:
The boundaries of the Enterprise Zone are as set forth on the map entitled “Map of the Wise County Enterprise ZoneAcrobat Reader required which is on file in the office of the County Administrator for the County of Wise and located elsewhere on this web site.

DEFINITIONS:
As used in this Article, the following definitions shall apply:

  • BUSINESS FIRM – means any corporation, partnership, electing small business (Subchapter S) corporation, limited liability company, or sole proprietorship authorized to do business in the Commonwealth of Virginia and subject to the state income tax imposed under various Articles of Chapter 26 of Title 58.1 of the Code of Virginia as amended.
  • ENTERPRISE ZONE – An area declared by the Governor of the Commonwealth of Virginia to be eligible for the benefits accruing under the Virginia Enterprise Zone Act (Section 59.1-270)

QUALIFICATIONS FOR LOCAL INCENTIVES:

  1. In order to qualify for local incentives under this Article, a business firm must be located within the boundaries of the Wise County Enterprise Zone Acrobat Reader required.  A new business must provide at least five (5) new full-time equivalent jobs.  An existing business must increase its net full-time equivalent jobs by ten percent (10%) of its existing workforce, or by five (5) new full-time equivalent jobs, whichever is greater.
  2. In order to qualify for local incentives, in addition to the new employment requirements set forth in Subsection A, business firms must have a minimum investment of twenty-five thousand dollars ($25,000) in rehabilitation, renovation, new construction, or other building or site improvements in the Enterprise Zone.
  3. Any business firm located in the Enterprise Zone shall be entitled to receive such other additional local incentives as may be conferred by the County.

INCENTIVES:
The County of Wise incentives include real estate and machinery and tools tax credits for qualifying companies upon approval of the application of the business firm, subject to the following:

  1. The percentage of the grant in comparison to the amount of the County real estate taxes and personal property taxes for such businesses shall be determined as follows:
               Jobs Created                                       Percent of Grant
                5 – 100                                               Pro-rated up to 100%
                100 +                                                 100%
  2. The grant shall be available for the first five (5) years that the qualifying business firm is located within the Wise County Enterprise Zone Acrobat Reader required.
  3. The incentive shall not be available to qualifying businesses locating from another Enterprise Zone, unless approved by the Board of Supervisors.  Personal service, retail and food service businesses are not eligible.

Real property investment grants in the Enterprise Zone are available for commercial, industrial, or mixed-use facilities as designated by the Department of Housing and Community Development.

  1. An investment of greater than $100,000 for rehabilitation projects may qualify for a state grant for up to 20% of the amount spent in excess of the $100,000 threshold amount.
  2. An investment of greater than $500,000 for new construction projects may qualify for a state grant for up to 20% of the amount spent in excess of the $500,000 threshold amount.
  3. State grants are capped at $100,000 per building or facility for investments of less than $5 million and $200,000 for investments of $5 million or more.

Additional information, grant manuals, grant application forms, wage threshold charts and answers to frequently asked questions can be found on the Virginia Department of Housing and Community Development website (http://www.dhcd.virginia.gov) under the Virginia Enterprise Program.

Also, contact:

Office of Community Development
Phone:  (804) 371-7093

Virginia's e-Region -- VA Coalfield Economic Development Authority
Virginia's e-Region -- VA Coalfield Economic Development Authority
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