GRANTS & INCENTIVES
As an economic driver in the #1 state for business, both the the Commonwealth of Virginia and the City of Manassas support business growth with financial incentives like tax breaks, local level grants, and workforce assistance. Opportunity, HUB, and Tourism Zones offer added benefits, making it ideal for investment.
Cash Grants
Economic Opportunity Fund
New and expanding businesses may qualify for a cash grant to offset costs like site acquisition, construction or renovations, permitting fees, or relocation costs.
Contact UsFast Track Permitting
New or existing businesses may qualify for an expedited review of a required permit or plan to locate in a new or existing space.
Contact UsState Incentives
Virginia’s most valuable business incentive is its pro-business climate. In addition to this, the Commonwealth offers a range of incentives and services to encourage business growth and reduce the costs of opening or expanding a business.
The Commonwealth offers these performance-based incentives and financing programs:
- Commonwealth Opportunity Fund – Grants awarded to localities on a matching basis to secure a business location or expansion for the State.
- VA Investment Partnership Grant – Designed to encourage continued capital investment by companies, resulting in added capacity, modernization, and increased productivity.
- VA Jobs Investment Program – Supports the creation of new jobs and investment by offsetting recruiting and training costs for new and expanding companies.
- Governor’s Agriculture and Forestry Industries Development Fund – Grants awarded to localities on a matching basis to grow agriculture and forestry industries.
HUBZone
A portion of the City has been designated a HUBZone by the federal government. This designation helps small businesses gain preferred access to federal procurement opportunities, including competitive and sole-source contracting, as well as a 10 percent price valuation preference. In a region where many companies work with the government, locating in our HUBZone can provide a smart advantage.
For more information about the U.S. Small Business Administration’s (SBA) HUBZone program and how to apply for certification, please visit SBA’s HUBZone program website.
TOURISM ZONE
Tourism is vital to our local economy, and few communities have played such a historic role in U.S. history. To support and grow this industry, Manassas has established two tourism zones: Historic Downtown and Gateway. Businesses that support travel, hospitality, and tourism are eligible for cash grants, fee waivers, and permitting assistance.
Hotels and attractions may be eligible to take advantage of Virginia’s Tourism Development Finance Program (TDFP), which provides gap financing in partnership with the locality and can be up to 30 percent of the initial equity needed to support these developments.
TECHNOLOGY ZONE
Manassas is home to Micron, BAE, and Lockheed Martin. After all, we know how important technological innovators are to the economy. To encourage technology-based businesses, we’ve designated the entire City a Technology Zone, giving Manassas the opportunity to support the businesses and industries of tomorrow. Qualifying companies may receive cash grants and fee waivers, and may also be exempted from Business, Professional, and Occupational License (BPOL) taxes.
Downtown Arts & Tourism District
In this Virginia Main Street Community, the unique character and vitality of Historic Downtown make Manassas a great place to live, work, and play. Charming restaurants and shops support other businesses in the district and citywide. This designation authorizes special incentives targeted to businesses and non-profits that support tourism and artists. This may include exemption of Business, Professional, and Occupational License (BPOL) taxes, cash grants, permitting assistance, and fee waivers.
OPPORTUNITY ZONE
Opportunity Zones were established by the Federal Tax Cuts and Jobs Act of 2017 to promote long-term investments in specific community areas. They provide tax benefits to investors who reinvest their unrealized capital gains into these zones.
Through this program, communities, investors, and companies can create Opportunity Funds to direct tax-advantaged investments into the City’s designated Opportunity Zone.
For more information about the federal Opportunity Zone program and eligibility, please visit the resource below and contact us with any questions.
EXTERNAL FUNDING
Additional financing is available to City Businesses through a variety of public and private sector funding sources. These range from low or no-interest loans to specialized grants and resources. Businesses are encouraged to review the provided link for immediate opportunities, and contact Mason SBDC for additional information and coaching.
Locate & Expand
Manassas is the best community in which to start, locate, and expand your business. Our expert Economic Development team provides the latest demographic data, industry trends, and site selection assistance to help you make the right choice for your business. As your liaison, we are here to provide guidance from start to finish for a seamless experience, reducing the time and cost it takes to open your doors!