LESS RED TAPE. MORE RESULTS
Access to capital and the power to move with ease and speed are critical for any business venture. While Wise County is a pro-business environment where rapid permitting and lower costs and lower taxes add operational momentum from day one, we also enhance access to capital through partnerships, relationships and select pro-business incentives. The Wise County Office of Economic & Industrial Development connects businesses to a range of financial and operational services locally, and as an active member of multiple regional partnerships, we also link businesses to a powerful regional network of support and opportunity—all in a state that has emerged as the nation’s #1 state for business in part because of pro-business policies.
LOCAL INCENTIVES
Wise County offers a regulatory environment built for speed—with no local business license tax for most operations and a strong lineup of performance-based incentives:
For qualifying businesses located within Wise County’s Enterprise Zone
- Real Estate Tax, Machinery & Tool Tax, and Tangible Business Property Tax reimbursement over a 4-year period:
- Year 1: 100% | Year 2: 75% | Year 3: 50% | Year 4: 25%
- Land Price Reduction Incentive
- A reduction in per-acre land price is available for qualified projects on Wise County IDA-owned property in the Lonesome Pine Regional Business & Technology Park and the Wise County Industrial Park. The incentive amount is based on job creation and real property investment.
- Basic Building Permit Fee Waiver Incentive
- New construction or renovations of commercial buildings may qualify for a waiver of the basic building permit fee. Eligibility is tied to job creation and capital investment thresholds.
- Workforce Training Programs
- Customized training solutions are available through local partnerships with Mountain Empire Community College and The University of Virginia’s College at Wise, providing programs tailored to meet the specific workforce needs of growing businesses.
Low-interest microloans available to eligible startups, relocations, and expansions (under 50 employees, operating less than 1 year). Funds may be used for land, facilities, equipment, or working capital.
Eligible renovations or replacements of commercial properties 26 years or older may qualify for a five-year exemption on increased assessed value due to improvements.
REGIONAL INCENTIVES
Wise County is proud to collaborate with trusted economic development partners to strengthen business opportunities through:
- Virginia Coalfield Economic Development Authority (VCEDA) provides low-interest loans to for-profit basic employers and industrial development authorities, seed capital matching grants for start-ups and small businesses, and loans and/or grants for renewable energy projects in Virginia’s e-Region.
- Virginia Tobacco Region Opportunity Fund for performance-based support in traded-sector operations.
STATE INCENTIVES
The Commonwealth of Virginia offers a powerful suite of performance-based, discretionary incentives for competitive projects evaluating a Virginia location. These financial inducements are structured to make sound fiscal sense for both companies and communities, aligning with business needs and the Commonwealth’s broader development goals.
As a designated Virginia Enterprise Zone, Wise County provides access to some of the most competitive state incentives in the U.S. for qualified projects, including:
- Real Property Investment Grant (RPIG): Up to 20% back on qualified construction costs—up to $200,000 per building
- Job Creation Grant (JCG): Up to $800 per job per year for net new, full-time jobs meeting wage and benefit thresholds
For qualifying purchases of manufacturing or R&D equipment used directly in operations.
Cost-sharing support for workforce recruitment, training, and retraining tied to job creation or production upgrades.
Funding support for innovation, infrastructure, and workforce initiatives aligned with regional economic growth.
Depending on the scope and impact of the project, the Virginia Economic Development Partnership (VEDP) may also offer additional discretionary incentives tailored to competitive projects considering a Virginia location.
Let’s Connect
Wondering which programs your project may qualify for? The best place to start is with a conversation. Contact the Wise County Office of Economic & Industrial Development—we’re here to help you move forward with serious momentum.