Large Business Investment Incentive Application

Program Overview

The Large Business Investment Incentive provides a graduated tax rebate on increased machinery, tools, and business personal property tax assessments for qualifying businesses making substantial capital investments within the Staunton Enterprise Zone (approximately 750 acres across three non-contiguous areas, effective January 1, 2026).

Rebate Schedule:

Year	Standard Investment	Investment Over $5 Million
Year 1	50% rebate on increased tax	50% rebate on increased tax
Year 2	40% rebate on increased tax	40% rebate on increased tax
Year 3	30% rebate on increased tax	30% rebate on increased tax
Years 4–5	Not available	20% rebate each year (2 additional years)

Eligibility Requirements — ALL must be met:

Business located within the Staunton Enterprise Zone
Minimum investment of $750,000 in machinery/tools OR $400,000 in business personal property
Creation of at least 10 net new full-time permanent positions (35+ hours/week)
New positions must pay at least 300% of the federal minimum wage
Health benefits offered to new employees
Business must commit to operating in the Enterprise Zone for a minimum of 5 years

One-Time Program: This incentive may be received only once per business location. A business that has previously received the Large Business Investment Incentive at the same Enterprise Zone location is not eligible to apply again.

SECTION 1 — APPLICANT INFORMATION

Business / Organization Name(Required)

Trade Name (DBA, if different)(Required)

Business Street Address / City / State / Zip(Required)

Mailing Address (if different)

Federal Employer ID (FEIN)(Required)

Virginia Tax Account #(Required)

Primary Contact Name(Required)

Primary Contact Title(Required)

Phone(Required)

Email(Required)

Business Website(Required)

SECTION 2 — BUSINESS PROFILE

Business Entity Type (LLC, Corp, Partnership, etc.)(Required)

Year Business Established(Required)

Year Located at Current Staunton EZ Address(Required)

NAICS Code(Required)

Primary Business Activity / Industry(Required)

Current # of Full-Time Employees(Required)

Current # of Part-Time Employees(Required)

SECTION 3 — INVESTMENT DETAILS

Check all that apply to this application:

Machinery & Tools Investment ($750,000+ minimum)

Business Personal Property Investment ($400,000+ minimum)

Both Categories

Total Planned Investment Amount ($)(Required)

Investment Period — Anticipated Start Date(Required)

Investment Period — Anticipated End Date(Required)

Description of Equipment / Property to be Purchased:(Required)

Primary Vendor / Supplier Name(s)(Required)

Estimated New Taxable Value After Investment ($)(Required)

Prior Year Taxable Venue ($)(Required)

Estimated Net Increase in Taxable Value ($)(Required)

SECTION 4 — JOB CREATION

Base Employment Count (Prior Calendar Year)(Required)

Projected Number of Net New Full-Time Positions(Required)

Job Types / Titles to be Created(Required)

Average Hourly Wage for New Positions ($)(Required)

Federal Minimum Wage at Date of Application ($)(Required)

300% of Federal Minimum Wage ($)(Required)

Will Health Benefits be Offered to New Employees?

Yes

Target Date to Fill New Positions(Required)

SECTION 5 — REQUIRED DOCUMENTATION CHECKLIST

Note: A signed 5-Year Operation Commitment Letter is required with your application. Annual rebate claims will require updated payroll and tax documentation.

Copy of current Business License

Max. file size: 2 GB.

Prior year personal property tax return

Max. file size: 2 GB.

Purchase invoices / equipment quotes (minimum 2 bids for orders over $50,000)

Drop files here or

Max. file size: 2 GB.

Current W-2 count or payroll documentation

Max. file size: 2 GB.

Proof of health benefits plan offered to employees

Max. file size: 2 GB.

Certificate of Good Standing (Virginia SCC)

Max. file size: 2 GB.

CERTIFICATION

I certify that the information provided in this application is true, accurate, and complete to the best of my knowledge. I understand that any misrepresentation may result in disqualification from the Large Business Investment Incentive and/or repayment of any funds received. I agree to comply with all program terms and conditions and to provide additional documentation upon request.

Printed Name

Title / Position

Date