Expand a Business

Community

Community Business Launch (CBL)

The Community Business Launch (CBL) assists communities in taking a systems approach to defining and pursuing their small business development strategy. The program starts with a community’s unique vision for its future and then uses a local business competition to find and foster the entrepreneurs that connect with that vision.

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Industrial

Industrial Revitalization Fund (IRF)

The Industrial Revitalization Fund (IRF) leverages local and private resources to achieve market-driven redevelopment of vacant and deteriorated industrial and commercial properties.

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Opportunity

Opportunity Zones (OZ)

The Federal Tax Cuts and Jobs Act of 2017 included provisions for a new revitalization tool, the Opportunity Zone and Opportunity Fund. The zones and funds will allow investors to receive tax benefits on currently unrealized capital gains by investing those gains in qualified Opportunity Zones.

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Resiliency

Resiliency

State and regional stakeholders of the public-private Resilience Partnership (RP) are responding to ongoing environmental changes to reinvent Hampton Roads around a shared understanding of how to live with water.

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Virginia

Virginia Enterprise Zone (VEZ)

Virginia Enterprise Zone is a partnership between state and local government that encourages job creation and private investment.

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Virginia

Virginia Individual Development Accounts (VIDA)

The Virginia Individual Development Accounts (VIDA) program helps qualified individuals save for a down payment on a home or for capital to start or expand a business. Eligible participants receive training, support and match funding on their savings. The current match rate is $8 for every $1 the participant saves, up to $4,000 in match.

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Virginia

Virginia Main Street (VMS)

The Virginia Main Street (VMS) program is an economic and community development program that offers a range of services and assistance to meet the many needs of communities interested in revitalization.

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