Economic Development

Rockingham County is built on a foundation of agriculture and industry where integrity and responsible stewardship lead to a prosperous future. Our mission is to support established businesses, promote expansion projects and attract new industry. We will work to enhance the vitality of our businesses and citizens alike by diversifying new capital investment as well as showcasing a variety of existing businesses that build upon our agricultural base.

Goals and objectives:
• Continue to be a leading locality in the Commonwealth for the agriculture industry
• Build stronger relationships with existing businesses
• Retain and educate a strong and leading workforce
• Strategically attract new businesses that align with Rockingham County culture and values
• Support healthy expansion and a diversified business community
• Educate the business community on the availability of local and regional incentives

Business Incentives
Rockingham County and the Commonwealth of Virginia are committed to helping new and expanding employers succeed. Several incentives programs are available, which range from tax credits and tax exemptions to grants and customized workforce development programs.

Featured below is an overview of the opportunities that are available. For additional details about eligibility and application processes, please contact Rockingham County Economic Development. Our team is here and ready to assist you.

Rockingham County Technology Zone Grant
A business located in the County that designs, assembles, manufactures, or develops, or maintains goods or provides services related to, advanced and innovative technological systems or devices; or uses advanced and innovative technological systems or devices to design, assemble, manufacture, develop and maintain goods and services, may be eligible for a technology grant. Grant eligibility requires that existing businesses must have invested at least 50 percent of the prior years’ assessed value for Machinery and Tools as defined in the Virginia State Code or invest $20 million in new capital outlay for Machinery and Tools, either leased or purchased. New businesses must invest at least Five Hundred Thousand and no/100 Dollars ($500,000.00) in Machinery and Tools.

For additional information view the grant application here: Economic Development Policy

STATE INCENTIVES

Commonwealth Opportunity Fund

This fund is a discretionary incentive available to the Governor to secure a business location or expansion project for Virginia. Grants are awarded to localities on a local matching basis with the expectation that the grant will result in a favorable location decision for the Commonwealth.

Agriculture & Forestry Industries Development Fund

The Agriculture and Forestry Industries Development Fund (AFID) is a discretionary, performance-based economic development incentive available to the Governor specifically for agriculture and forestry value-added or processing projects in Virginia.

Virginia Investment Partnership Act

The Virginia Investment Partnership (VIP) Grant and the Major Eligible Employer (MEE) Grant are discretionary performance incentives designed to encourage continued capital investment by Virginia companies, resulting in added capacity, modernization, increased productivity, or the creation, development, and utilization of advanced technology.

Virginia Economic Development Incentive Grant

This is a discretionary performance incentive, designed to assist and encourage companies to invest and create new employment opportunities by locating significant headquarters, administrative or service sector operations in Virginia.

Clean Energy Manufacturing Incentive Grant

The Clean Energy Manufacturing Incentive Grant (CEMIG) is a discretionary performance incentive, designed to encourage clean energy manufacturers to grow in Virginia.

Virginia Jobs Investment Program

The Virginia Jobs Investment Program (VJIP) is a program that offers customized recruiting and training assistance to companies that are creating new jobs or experiencing technological change.

Corporate Income Tax Credits

Virginia offers a variety of tax credits that are available for use against a company's corporate tax liability:

Major Business Facility Job Tax Credit
Recycling Equipment Tax Credit
Day Care Facility Investment Tax Credit
Worker Retraining Tax Credit
Virginia Port Tax Credit Programs
Research and Development Tax Credit
Green Job Creation Tax Credit

Sales and Use Tax Exemptions

Virginia offers some of the broadest sales and use tax exemptions in the U.S.

Property Tax Exemptions

Virginia does not tax intangible property, manufacturers' inventory, manufacturers' furniture, fixtures, or corporate aircraft.