Incentives

The Commonwealth of Virginia offers a wide range of economic incentives for new and existing businesses. Goochland County Economic Development can help you evaluate and apply for these incentive programs. To learn more, please contact Matthew Ryan, Director of Economic Development.

Governor's Opportunity Fund (GOF)


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.

Virginia Investment Partnership Act


The Virginia Investment Partnership (VIP) Grant and the Major Eligible Employer Grant (MEE) 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.

The Virginia Economic Development Incentive Grant (VEDIG)


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 (Vjip)

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.

Economic Development Access Program


Administered by the Virginia Department of Transportation, this program assists localities in providing adequate road access to new and expanding basic employers.

Virginia Small Business Financing Authority (VSBFA)


VSBFA offers programs to provide businesses with access to capital needed for growth and expansion.

Foreign Trade Zones


Virginia offers six foreign trade zones designed to encourage businesses to participate in international trade by effectively eliminating or reducing customs duties.

Also, numerous sub zones are provided and additional ones can be designated to enhance the trade capabilities of specific companies.