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As if abundant space, a vibrant
lifestyle, low costs and the Department of Economic
Development’s partnership weren’t enough, the Commonwealth
of Virginia can offer still more incentives for making Loudoun
home for your business. The
Virginia
Economic Development Partnership offers site location
and incentive programs, and the Department of Business
Assistance offers a Job Tax
Credit, and Workforce
Services.
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 Major Business Facility
Job Tax Credit
Qualified companies locating
or expanding in Virginia receive a $1,000 corporate income
tax credit for each new full-time job created over a
threshold number of jobs.
Companies locating in
Enterprise Zones or economically distressed areas are
required to meet a 50-job threshold, all other locations
have a 100-job threshold.
The $1,000 credit is
available for all qualifying jobs in excess of the threshold
and is taken in equal installments over three years ($333
per year).
Non qualifying jobs include:
seasonal jobs and positions in building and grounds
maintenance, security and other positions ancillary to the
principal activities of the facility.
Credits are available for
taxable years beginning on and after 1/1/95, but before
1/1/05. Unused credits may be carried over 10 years.
Training
Workforce Services is a unique program whose mission is to
train and retrain Virginians for specific employment
opportunities. The program is designed to reduce the human
resource development costs of new and expanding companies.
Since its inception in 1966, Workforce Services has assisted
more than 2,900 companies and has trained over 179,500
Virginians.
- Consulting
Workforce Services consultants develop
custom-designed recruiting and training programs to meet
company startup or expansion requirements. After an
initial training analysis, program consultants can help
design preemployment assessment programs; coordinate
recruitment, screening, and interviewing of trainees;
provide train-the-trainer instruction for company
personnel; develop and implement on-the-job training, and
assist in implementing such concepts as team building,
continuous improvement, total quality management, and ISO
9000 quality orientation. Workforce Services coordinates
the company's specific training needs with any of
Virginia's 84 institutions of higher learning.
- Video Production
An audio visual professional works with the
company to produce video programs which support both
orientation and training. AV materials are treated as
proprietary information and are returned to the company
upon completion of training.
- Funding
Workforce Services is state funded and reduces a
company's start-up costs. To be eligible for the program,
a company must create at least 25 new jobs or invest
$1,000,000 within a one-year period. For more information,
contact:
Workforce Services
Virginia Department of Business Assistance
P. O. Box 798
Richmond, Virginia 23218-0798
(804) 371-8120
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