James City County expands Enterprise Zone boundaries, adds additional Zone
June 21, 2011
FOR IMMEDIATE RELEASE
Russell Seymour, Director, Office of Economic Development
The James City County Office of Economic Development is pleased to announce the expansion of the County’s Enterprise Zone. Additional acreage was added to the existing Enterprise Zone in the southern portion of the County. A second Enterprise Zone was created near the County’s northern border. Properties located within the new and expanded areas include the James River Commerce Center, Green Mount Industrial Park, the Busch Corporate Center, a portion of the Stonehouse Commerce Park, Hankins Industrial Park, Jacobs Industrial Park and a portion of the SR-60 corridor.
The Enterprise Zone Program is a partnership between the State and James City County. The program seeks to improve economic conditions by offering incentives for commercial and industrial investment, development, and expansion within a targeted geographic area. A company locating in the Enterprise Zone may qualify for State and local incentives based on their capital investments, job creation and real property investments.
The proposal for the boundary expansion and additional Enterprise Zone was submitted to the Virginia Department of Housing and Community Development (DHCD) in March 2011 after being approved by the Board of Supervisors. The program is retroactive, so businesses within the newly incorporated areas that meet the program’s requirements may qualify for incentives based upon activities from Jan. 1, 2011.
For more information, contact the Office of Economic Development at 757-253-6607 or visit www.yesjamescitycountyva.com/Finance/E-Zone.html.