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Commissioner of the Revenue - Enterprise Zones Replaced by Technology Zones
 
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Commissioner of the Revenue
Timothy M. McPeters

Phone Numbers
(804) 748-1281

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(804) 768-8649 Administration, Individual Personal Property
(804) 796-3236 Business License, Business Tangible Personal Property, Income Tax, Tax Relief

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Monday - Friday
8:30 a.m. - 5 p.m.

Mailing address
Commissioner of the Revenue
P.O. Box 124
Chesterfield, VA 23832-0908

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Commissioner of the Revenue
9901 Lori Road
Building 38, Room 165
Chesterfield, VA 23832
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Commissioner of the Revenue - Enterprise Zones Replaced by Technology Zones

Commissioner of the Revenue - Technology Zones Programs Overview

Chesterfield County currently has five technology zones. Technology zones are defined geographic areas allowing localities to offer incentives to attract new businesses.

Background information for enterprise, subzones and technology zones

Due to recent changes in the state law, the Code of Chesterfield County was amended, effective January 1, 2014, enacting the expiration of the Jefferson Davis Enterprise Zone, along with the associated Hull Street Road Enterprise Subzone.  The amendment also enacted the expiration of the Walthall Enterprise Zone, along with the associated Midlothian Turnpike Enterprise Subzone and Meadowdale Meadowbrook Enterprise Subzone, effective January 1, 2016. While the enterprise zones and subzones expired, they were replaced with technology zones which continue with the same benefit options. 

The General Assembly recently adopted Virginia Code §58.1-3850, which allowed localities to establish technology zones by ordinance.  The Code of Chesterfield County was amended, effective January 1, 2014, creating the new technology zones. Creating the technology zones ensures that the various benefits provided by county ordinance to businesses located in enterprise zones will be retained in the County Code and will not expire upon expiration of the enterprise zones on January 1, 2014, and January 1, 2016, respectively. 

Technology zones summary

  • Effective January 1, 2014, the Jefferson Davis Technology Zone and the Hull Street Road Technology Zone were created. The Jefferson Davis Technology Zone shall be defined by the same geographical boundaries as the former Jefferson Davis Enterprise Zone.  Similarly, the area formerly designated as the Hull Street Road Enterprise Subzone shall then define the boundaries of the Hull Street Road Technology Zone.  (The Jefferson Davis Enterprise Zone and associated Hull Street Road Enterprise Subzone shall cease to exist on January 1, 2014.)
  • Effective January 1, 2016, the Walthall Technology Zone, Midlothian Turnpike Technology Zone, and the Meadowdale Meadowbrook Technology Zone were created. The Walthall Technology Zone shall be defined by the same geographical boundaries as the former Walthall Enterprise Zone.  The areas formerly designated as the Midlothian Turnpike Enterprise Subzone and the Meadowdale Meadowbrook Enterprise Subzone shall define, respectively, the boundaries of the Midlothian Turnpike Technology Zone and the Meadowdale Meadowbrook Technology Zone.  (The Walthall Enterprise Zone and associated Midlothian Turnpike Enterprise Subzone and Meadowdale Meadowbrook Enterprise Subzone shall cease to exist on January 1, 2016.)

Locations of zones

As of January 1, 2014, Chesterfield County contained one enterprise zone, two subzones and two technology zones.  As of January 1, 2016, Chesterfield County contains five technology zones.  Official maps delineating the boundaries of the technology zones are maintained by the Department of Economic Development.  The Office of the Commissioner of the Revenue administers the tax incentives for business licenses, business tangible personal property and machinery and tools taxes.

New and existing businesses

New businesses in or businesses relocating into the technology zones may qualify for:

  • a waiver or reduction of business license tax fees for up to five (5) years, and /or
  • a rebate on qualifying machinery and tools (“M&T”) taxes paid over five (5) years.

An existing business within the technology zones may qualify for:

  • a waiver or reduction of business license tax fees for up to five (5) years, and /or
  • a partial rebate on qualifying M&T taxes paid on property resulting from a qualifying expansion or renovation.
Frequently Asked Questions

Who qualifies for a rebate on M&T taxes? 

M&T tax rebates: 

A full (100%) rebate of M&T taxes paid is available for a five-year period, for new or relocating businesses who locate in a technology zone after January 1, 2006.

A partial rebate of M&T taxes paid is available for an existing business within a technology zone that undergoes an expansion or renovation which results in an increase of 15% or $50,000, whichever is greater, in the assessed value of its M&T over that of the previous year.

Please note that over the life of the zone, businesses may qualify for more than one qualifying expansion or renovation rebate.  

          

I think I qualify.  What is the first step? 

Contact the Chesterfield County Department of Economic Development within one year of locating to a technology zone.  This program is administered by the Department of Economic Development, and offers incentives to businesses locating and/or expanding or renovating within a technology zone. 

 

Then what? 

If the business qualifies for a business license incentive, it will still be required to apply for an annual business license with the Office of the Commissioner of the Revenue, but the license fee will either be waived or partially waived. In the case of a rebate on M&T taxes, the business must file and then pay the taxes assessed on this equipment before the Treasurer’s Office will issue the rebate.

 
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