Bedford County Economic Development

Office of Economic Development


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Incentives

The Advantages of Bedford County

Our office will work with you to identify all incentives and financial advantages for your company to locate or expand here.

These include:

Please contact the Office of Economic Development to learn more.

When you locate to Bedford County, the Office of Economic Development will guide you through all local, regional, state, and national incentives that may apply based on your jobs, investment and other factors. The Commonwealth of Virginia offers a Governor’s Opportunity Fund, as well as many other incentive programs for eligible companies.

State Incentives

Among these potential state incentives, programs include:

  • Governor’s Opportunity Fund
  • Virginia Investment Partnership Act
  • The Virginia Economic Development Incentive Grant (VEDIG)
  • Clean Energy Manufacturing Incentive Grant
  • Virginia Jobs Investment Program (VJIP)
  • Corporate Income Tax Credits
  • Sales and Use Tax Exemptions
  • Property Tax Exemptions
  • Economic Development Access Program
  • Rail Industrial Access Program
  • Transportation Partnership Opportunity Fund
  • Virginia Small Business Financing Authority (VSBFA)
  • Enterprise Zones
  • Technology Zones
  • Foreign Trade Zones
  • Defense Production Zones

Bedford County incentives

The premise of Bedford County’s incentive program is that it can offer a new or expanding company financial assistance associated with a start-up, relocation, or expansion project, freeing up business capital at a time when it is most urgently needed. In return, if a company makes an investment in a new or expanded operation the locality stands to benefit from an increased tax base, and expanded jobs and payroll in the community. Consequently, the annual payroll impact will be considered as part of any potential incentive proposal.

Some of the types of incentives that have been offered through the Bedford County Economic Development Authority include:

  • Assistance with utility fees and charges
  • Delivery of infrastructure to a site or building (water, sewer, roads, fiber optic cable, etc.)
  • Write-down of the cost of buildings or sites (reduced price)
  • Lease rates that may be below market value or graduated over a period of time
  • Assistance with site plans, engineering costs, or grading
  • Cash grants or combinations of state and local grant programs

See the EDA Incentive Guidelines here