Diverse incentives available
When you locate to Bedford County, the Office of Economic Development will guide you through all local, regional, state, and national incentives that may apply, based on your jobs, investment and other factors.
Bedford County Incentives
Bedford County’s incentive program can offer a new or expanding company financial assistance associated with a start-up, relocation, or expansion project. Our incentives can help companies free up business capital at a time when it is most urgently needed. In return, the locality gains the benefit from an increased tax base with machinery and tools, real estate, and additional jobs/payroll in the community. Consequently, the annual payroll impact will be considered as part of any potential incentive proposal.
- Assistance with utility fees and expenses
- Delivery of infrastructure to a site or building (water, sewer, roads, fiber optic cable, etc.)
- Reduced price of buildings or sites
- Lease rates that may be below market value or graduated over a period of time
- Assistance with site plans, engineering costs, or grading
- Cash grants or combinations of state and local grant programs
- Potential Tobacco Indemnification funds for job creation projects
- Potential local EDA grants and assistance
- Qualifying grants and incentives:
- Two qualified Opportunity Zones in Bedford County
- Qualifying New Market Tax Credit program incentives
- Access to regional financing, training grants, or loans
- Bedford Regional Water Authority financial support for new business connection fees.
See the EDA Incentive Guidelines here and contact the Office of Economic Development to learn more.
The Commonwealth of Virginia offers a Growth and Opportunity Fund, as well as many other incentive programs for eligible companies. Our office will work with you to identify all the incentives and financial advantages for your company to locate or expand here.
- Growth and Opportunity Fund (GO Virginia)
- Virginia Investment Partnership Act
- The Virginia Economic Development Incentive Grant (VEDIG)
- Clean Energy Manufacturing Incentive Grant
- Virginia Jobs Investment Program (VJIP)
- Corporate Income Tax Credits
- Sales and Use Tax Exemptions
- Property Tax Exemptions
- Economic Development Access Program
- Rail Industrial Access Program
- Transportation Partnership Opportunity Fund
- Virginia Small Business Financing Authority (VSBFA)
- Enterprise Zones
- Foreign Trade Zones
- Opportunity Zones
- Defense Production Zones