Appendix 19

Economic Development

Many Virginia local governments build on their planning activities with staff devoted full-time to retaining and attracting businesses to maintain and expand their commercial tax base. These localities may use a variety of programs and incentives to assist in this effort, including:

  1. Industrial Development Authorities;
  2. Community Development Corporations;
  3. Work force development;
  4. Education and training support;
  5. Tax abatements;
  6. Historic tax credits;
  7. Enterprise zones;
  8. Grants and loans; and
  9. Tax Increment Financing Districts.
Because of the separate taxing jurisdictions that result from the independent city model in the Commonwealth, cities and counties often compete with each other to attract new commercial and industrial development.