[HISTORY: Adopted by the Board of Supervisors of the County
of Page 5-19-2015. Amendments
noted where applicable.]
The Virginia Enterprise Zone Act, § 59.1-538 et seq.
of the Code of Virginia, as amended, authorizes the establishment
of an Enterprise Zone. It is the purpose of the Enterprise Zone Act,
and of this chapter, to stimulate business and industrial growth within
the area so designated as the Page County Enterprise Zone by means
of state income tax credits, state sales tax exemptions, and local
incentives as set forth herein.
The boundaries of the Page County Enterprise Zone are established
on the map entitled, "Page County Enterprise Zone," as modified from
time to time, on file in the Page County Office of Economic Development
and Tourism, located at 103 South Court Street, Luray, Virginia. Initially,
specific areas were established as an enterprise zone on January 1,
2015, by the Governor of the Commonwealth of Virginia for a period
of 10 years in accordance with the Virginia Enterprise Zone Act.
As used in this chapter, the following terms shall have the
meanings indicated:
Any corporation, partnership, electing small business corporation,
limited liability company or sole proprietorship authorized to do
business in this Commonwealth of Virginia and the County of Page,
Virginia. However, a business firm does not include organizations
which are exempt from state income tax on all income except unrelated
business taxable income as defined in the Federal Internal Revenue
Code, Section 512; nor does it include homeowners' associations
as defined in Federal Internal Revenue Code, Section 528.
An area declared by the Governor of the Commonwealth of Virginia
to be eligible for the benefits accruing under the Virginia Enterprise
Zone Act.
Thirty-five hours per week of an hourly wage (or the salaried
equivalent). A single equivalent job may be represented by one employed
individual, or by multiple employed individuals whose aggregate hours
of employment (or salaried equivalent) equal 35 hours per week.
Any business operating or located within the enterprise zone
on January 1, 2015, within Page County, prior to its location within
the enterprise zone. A business which retains the same ownership and
which was operating or located within the enterprise zone on January
1, 2015, or within the County prior to location with the enterprise
zone shall not be defined as a new business, even if the name or entity
(corporate or otherwise) has changed.
A business operating within the enterprise zone after January
1, 2015, having had no prior business location within Page County.
State incentives are available to eligible businesses and zone
investors who create jobs and invest in real property within the boundaries
of the Page County Enterprise Zone. Eligibility for state incentives,
and the application process for obtaining incentives, shall be coordinated
between Virginia Department of Housing and Community Development and
Page County's Office of Economic Development and Tourism. These
incentives are as follows:
A.
Qualification for the Job Creation Grant (JCG) is based on permanent
full-time job creation over a four-job threshold, with wage rates
at least 175% of the federal minimum wage and availability of health
insurance. Personal services, retail, food and beverage positions
are not eligible to receive job creation grants.
B.
Real Property Investment Grant (RPIG) is based on qualified investments
made to commercial, industrial, and mixed-use buildings for facilities
located within the boundaries of an enterprise zone. To be eligible
for the RPIG, an individual or entity must invest at least $100,000
for rehabilitation or expansion projects and at least $500,000 for
new construction projects.
Administered by Page County's Office of Economic Development
and Tourism:
A.
Capital investment grant (CIG). The CIG is a grant equal to 75% of
the taxes paid on net new taxable in machinery and tools, business
personal property, and/or real estate, as measured by the increase
in assessment. The CIG will be delivered as a grant made to the recipient
after taxes have been paid to the County after all eligibility requirements
have been met by the recipient. The CIG will be paid semiannually,
after all taxes due have been paid by the recipient, for a period
of five years. Additional qualification requirements:
(1)
Location in County Enterprise Zone;
(2)
The creation of at least five new full-time jobs or full-time equivalent
jobs, to be maintained throughout the grant period, with an average
annual salary/wage at least equal to 85% of the most current prevailing
local wage as determined by the Virginia Employment Commission;
(3)
Net new taxable investment in machinery and tools of at least $100,000,
to be maintained throughout the grant period, to be attained within
24 months of entering into a grant performance agreement;
(4)
Or a net new taxable investment in business real estate of at least
$150,000, to be maintained throughout the grant period, to be obtained
within 24 months of entering into the grant performance agreement;
(5)
Payment of all taxes and fees due to the County in a timely manner
during the grant period;
(6)
Entrance into a grant performance agreement with the Page County
Economic Development Authority; and
(7)
Annual submission of evidence of compliance with the grant performance
agreement during the grant period.
B.
Business/professional/occupational license (BPOL), local sales tax,
meals and/or lodging tax refund (BSMLR). The refund is a grant equal
to a percentage of new business license fees, local option sales tax,
meals and/or lodging taxes paid by the qualifying company/business
determined by the following schedule: Year 1 - 80% refund; Year 2
- 60% refund; Year 3 - 40% refund; and Years 4 and 5 - 20% refund.
The BSMLR will be paid semiannually for a period of five years after
all taxes have been paid by the recipient and amount(s) paid determined
by the Commission of Revenue. A business may qualify for and receive
the BSMLR for one grant period only during the life of the Enterprise
Zone. Additional qualification requirements:
(1)
Location in County Enterprise Zone;
(2)
Creation of at least five full-time jobs (or full-time equivalent)
or ten-percent expansion of current number of jobs, whichever is greater
to be maintained throughout grant period;
(3)
Payment of all taxes and fees due to the County in a timely manner
during the grant period;
(4)
Submission of an annual application during the grand period; and
(5)
Annual submission of evidence of compliance with the grant performance
agreement during the grant period.
C.
Business Development Loan Program (BDLP). The BDLP provides loans
up to a maximum of $50,000 to be utilized by new or existing businesses
located in the County Enterprise Zone. The BDLP is funded and administered
by Page County Economic Development Authority (EDA), and all inquiries
and applications must be submitted to the EDA for review and approval.
Additional qualification requirements:
(1)
Creation of at least one full-time, or full-time equivalent job;
(2)
Underwriting must be successfully completed;
(3)
Payment of all taxes and fees due to the County must be paid in a
timely manner during the loan period; and
(4)
Annual submission of evidence of compliance with the terms of the
loan agreement during the loan period;
(5)
The loan must be fully collateralized.
D.
Commercial rehabilitation real estate tax exemption (CRRETE). The
CRRETE exempts qualifying real estate assessments (QREA) from increases
in taxation by the County for a period of between five to 15 years.
A QREA provides for tax rebates based upon the difference between
pre- and post-improvement tax assessments. Once improvements are realized,
qualifying properties are eligible for semiannual County real estate
tax rebates for the increased assessment amount only. Applicants may
receive said rebates after all real taxes are paid to the County.
Additional qualification requirements:
(1)
The qualifying property must be in the County Enterprise Zone;
(2)
The qualifying property must be at least 15 years old;
(3)
The property must be in commercial, industrial, or mixed use with
a minimum of 30% usable floor space devoted to commercial, office
or industrial use;
(4)
The cost of rehabilitation must be at least 40% of the property's
pre-improvement assessment prior to the commencement of rehabilitation
work with a minimum investment of no less than $50,000 as determined
by the Page County Building Official;
(5)
The property cannot be expanded more than 15% of its existing size
prior to commencement of the rehabilitation work;
(6)
Applicants must comply with all other terms and conditions of § 58.1-3221
of the Code of Virginia.
E.
Refund of various development fees (RVDF). The RVDF refunds half
of the building permit, site plan and/or zoning, rezoning zoning,
variance, or special use permit fees paid to the County by a qualifying
applicant. The fees are refunded upon the successful completion of
the qualifying project. Fees related to emergency management services
(EMS), stormwater management and/or utility facility/connections are
not subject to the RVDF. Additional qualification requirements:
(1)
The qualifying project must be in the County Enterprise Zone.
F.
Business visitation prioritization (BVP). The BVP is implemented
by Page County's Economic Development Director, and may include
other professional and resources in accordance to availability and
appropriateness. The Economic Development Director will provide consultation
services to qualifying business to assist in resolving issues related
to conducting business. The degree and variety of services provided
will be determined by the Economic Development Director, and allocated
according to time and resources.
G.
HUB Zone Assistance (HZA). HZA is provided by the Page County's
Economic Development Director for businesses seeking HUB Zone certification,
and to existing HUB Zone certified businesses located in the County.
H.
Fast Track Development Program (FTDP). Through the FTDP, businesses
applying for rezoning and/or special use permits may request joint
hearings of the County's Planning Commission and Board of Supervisors
as a means to expedite process. Additional qualification requirements:
Any business firm seeking to receive local enterprise zone incentives
shall make application to the Page County's Economic Development
Director, who acts as the enterprise zone administrator, on forms
provided by the Page County Economic Development Authority. The Economic
Development Director may require the business firm to provide documentation
establishing that said business firm has met the requirements for
the receipt of County Enterprise Zone incentives. Failure to provide
requested documentation shall result in a denial of the business firm's
application for local incentives. Upon approval of any business firm
application for local enterprise zone incentives, the Economic Development
Director shall submit a written report to the Economic Development
Authority and the County Administrator listing the name and address
of the qualifying business firm, and the local enterprise zone incentives
for which it is qualified. The Economic Development Director may require
the business firm to provide additional documentation from time to
time to assure that said business firm retains the requisite qualifications
for the receipt of local enterprise zone incentives. In the event
that any business firm shall fail to maintain the requisite qualifications
for the receipt of local enterprise zone incentives, the Economic
Development Director shall inform the business firm in writing that
it is no longer qualified for the receipt of local incentives, and
shall send a copy of said notice to the Economic Development Authority
and the County Administrator.
The Enterprise Zone Administrator shall be the Page County Administrator
or his or her designee.
