The City of Franklin and Southampton County share a joint Enterprise Zone with six identified zones, three in the city and three in the county. Combined, there are over 4,200 acres identified in the Franklin Southampton Joint Enterprise Zone. Qualifying companies who locate or expand in these zones can take advantage of local incentives and state grants. 

Below is a general description of the available state incentives and local incentives. To find out more information, please contact Amanda Jarratt at 757-562-1958 or ajarratt@franklinsouthamptonva.com.

State Enterprise Zone Incentives

Job Creation Grants

• Up to $500/year per new permanent full-time position earning at least 175% the Federal minimum wage with health benefits (150% for the City of Franklin)
• Up to $800/year per new permanent full-time position earning at least 200% the Federal minimum wage with health benefits
• Available for a five-consecutive-year term for net new permanent full-time positions

Real Property Investment Grants

• Up to $100,000 grant per qualifying building or facility investments less than $5 million
• Up to $200,000 grant per qualifying building or facility investments of $5 million or more

Capped per building at a maximum of $200,000 within a five year term.

Local Enterprise Zone Incentives

Discounted Purchase of City/County Owned Industrial Land

• Reduction in the price of land per acre related to investment made

Building Rehabilitation Incentive

• Partial exemption from real estate taxes for qualifying rehabilitated structures for ten years 

Machine & Tool Tax Rebate

• Receive a 50% rebate on machinery & tools taxes paid for a period of five years

Electric Utility Tax Rebate

• Reduced percentage on utility tax in decreasing amounts every year for five years

Rebate of Building Code Permit Fees

• City of Franklin rebates include: plan review fees, new construction fees, utility connection fees, and all land use development fees 
• Southampton County rebates include: building permit fees, rezoning fees, conditional use permit fees, and variances and sign permit fees

Fast Track Permitting Process

• Staff will provide comments in no more than seven working days

Electric Rate Rebate (City of Franklin only)

• Receive 10% rebate on annual electric bill not to exceed 10 years and not to exceed $20,000 per year

Temporary Office Space

• Staff will attempt to provide free temporary office space for an administrative staff up to five persons

Workforce Hiring & Screening Services

• Franklin's Paul D. Camp Community College's Regional Workforce Development Center's One Stop Job Center will provide complimentary assistance in hiring personnel

Job Profile Assessment

• Qualified companies may take advantage of a reduced rate in conducting a job skills assessment and job skills need

Welcome Wagon

• Local organizations and businesses will offer complimentary or discounted services to new businesses locating in an Enterprise Zone

Joint Enterprise Zone Maps

Below are maps highlighting the Franklin Southampton Joint Enterprise Zone designations.
 
Overall Franklin Southampton Joint Enterprise Zone

Armory Drive Zone

Downtown Franklin Zone

Pretlow Industrial Park Zone

Turner Zone

Southampton Business Park Zone

Boykins Zone