ENTERPRISE ZONE |
Town of South Hill |
 Industrial Real Estate Discount |
| To qualify for Industrial Real Estate Discount of 50% off the listed price of the property, new businesses locating within Interstate Industrial Park must have at least a $10 million private investment and create a minimum of 100 full-time jobs as defined by the Commonwealth of Virginia. |
| Industrial Real Estate Discount |
| Benefits: | Discount of 50% off the listed price of the property |
| Application Limits: | $10 million private investment Creation of minimum of 100 full time jobs |
| Source of Funds: | South Hill IDA |
| Economic Stimulus Grant - Town of South Hill |
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| To qualify new businesses must create a minimum of 50 full-time jobs. Recipients of the Economic Stimulus Grant are ineligible to receive Job Grants |
| A four year stimulus grant based on machinery/tools tax payments | |
| Year | Amount |
| 1 | 100% |
| 2 | 75% |
| 3 | 50% |
| 4 | 25% |
| Job Grants |
| Payment amount | $400 per job |
| Limitations on Application | Industries creating 15 to 50 full time jobs within 30 months One-time payment made when LEZA is satisfied with certainty of the jobs creation |
| Waiver of Business License Tax |
| Businesses locating in the zone will have Business License Tax waived |
| Limitations on Application: | 10 full time jobs Waived for 3 years from start of business or up to expiration of zone |
| Waiver of Building Permit Fees |
| Businesses locating in the zone will have building permit fees waived |
| -- Minimum job creation: | 10 full time jobs |
| Waiver of Water and Sewer Connection Fees |
| Water and sewer connection fees will be waived for businesses locating in the zone. |
| -- Minimum job creation: | 10 full time jobs |
| Reduced Water and Sewer Costs |
| Reduces water and sewer costs by 15 percent for users of over one million gallons per month for businesses locating in the zone. |
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