James City County’s commitment to economic development includes creating and awarding business incentives to both new and expanding businesses. Financial resources are essential to every business, which is why James City County created performance-based programs to attract and grow high-value business projects and promote broad-based prosperity in our community. In addition to the county, the state of Virginia offers a variety of incentives designed to help entrepreneurs and businesses locate and/or expand in James City County.
Two areas within James City County have been designated by the State of Virginia as an Enterprise Zone. The first, located in the southern portion of the County, includes the James River Commerce Center, Green Mount Industrial Park, the Busch Corporate Center and a portion of the SR-60 Corridor. The second zone is located in the northern portion of the County and includes a portion of the Stonehouse Commerce Park, Hankins Industrial Park, Jacobs Industrial Park and a portion of the SR-60 Corridor.
In January 2012, the Board of Supervisors adopted a Tourism Zone that encompasses all of James City County. The Tourism Zone allows James City County to support and encourage new and existing tourism business. As part of the County’s continued commitment to this important industry segment and to our existing businesses, the County has established a Tourism Zone. The Zone boundaries include all of James City County and provide incentives to both new and existing qualified businesses.
James City County is a pro-business community with a strong commitment to business success. The County offers a number of incentive programs on a case-by-case basis that are tailored to the specific needs of a particular business. For qualified projects, potential programs and/or considerations may include, but are not limited to, fee reductions, taxed-based incentives, an expedited review process and assistance with employee recruitment and training. Additionally, the County will work closely with the State of Virginia on a number of state and local incentive opportunities. James City County businesses also have the opportunity to partner with local educational institutions such as the College of William & Mary and Thomas Nelson Community College.
Virginia Jobs Investment Program
The Virginia Economic Development Partnership’s Virginia Jobs Investment Program (VJIP) provides services and funding to companies creating new jobs or experiencing technological change. As a business development incentive supporting economic development since 1965, VJIP reduces the human resource development costs of new and expanding companies. With strong support from the Governor and General Assembly, VJIP is completely state-funded, demonstrating Virginia’s commitment to enhancing job opportunities for its citizens. Click here for VEDP's 2016-2017 Guide to Business Incentives (PDF).
Virginia Small Business Financing Authority
The Virginia Small Business Financing Authority is the state's economic development and small business financing arm, helping existing businesses and those businesses seeking to move to Virginia through an extensive portfolio of financing programs.
Foreign Trade Zones (FTZ) are secure areas under U.S. Customs and Border Protection (CBP) supervision that are generally considered outside CBP territory upon activation. Foreign and domestic merchandise may be moved into zones for operations, not otherwise prohibited by law, including storage, exhibition, assembly, manufacturing, and processing. All zone activity is subject to public interest review. Foreign trade zone sites are subject to the laws and regulations of the United States as well as those of the states and communities in which they are located.
- No duty is paid on re-exported merchandise
- If foreign merchandise is sold domestically, no duty is paid until it leaves the zone or zones
- If foreign merchandise is manufactured into a product with a lower duty rate, the lower duty rate applies on the foreign content when duty is paid
- Merchandise in a zone may be stored, repackaged, manufactured, manipulated, destroyed, altered or changed