Taxes and Incentives
Fairfax County has a fair and competitive tax structure and a strong commercial tax base that helps support our quality of life. As for the state, the Commonwealth of Virginia has not raised its corporate income tax rate since 1972. Be sure to download the FCEDA’s fact sheet on state and local taxes to learn more.
State Incentive Programs
State incentive programs are designed to attract—and keep—businesses here. The FCEDA is here to connect you with them. Some of the major incentives include:
The Virginia Jobs Investment Program (VJIP) is an economic development incentive that supports the creation of new jobs and investment in the Commonwealth by offsetting recruiting and training costs for new and expanding companies. Eligibility is limited to growth by qualified companies in these sectors: corporate headquarters, distribution centers, information technology, manufacturing, research and development, and shared service centers. VJIP consists of three initiatives:
- The New Jobs Program focuses on expansions of existing companies or new facility locations.
- The Small Business New Jobs Program is designed specifically for Virginia companies that have 250 employees or fewer company-wide.
- The Retraining Program is limited to projects by for-profit companies in the manufacturing and distribution center sectors. This program provides services and funding to help them upgrade the skills of eir existing employees.
Other Virginia Programs: The Office of the Governor provides resources to qualifying companies based on criteria established by state legislation to promote the creation of new jobs and investment. These programs are usually used for activities such as transportation access, infrastructure improvements or other site-related developments.
Contact us to learn more.