Office and Technology Businesses

Technology Enhancement Grant (TEG) is a grant designed for technology businesses that increases the number of living wage jobs in the region, diversifies the local economy, and attracts a workforce with new skillsets. 

The City of Danville and the Industrial Development Authority area able to rebate percentages of taxes paid for a period of time as agreed upon by the governing bodies and company, The City and IDA have a history of rebating approximately 50% to 70% of taxes paid and rebates begin once committed taxable capital investment reached.

• Certified documentation by a Virginia licensed CPA is required
• At least 10 new permanent full-time employees
• Minimum taxable capital investment of $250,000

• For projects that require a greenfield site to construct a new building, Danville typically offers land at little or no cost in one of our established business parks. Job creation and capital investment drive the value of this incentive.

• Riverview Industrial Park, Cyber Park, Cane Creek Centre, and Airside Industrial Park all have available sites, and the parks have a full complement of water, wastewater, natural gas, electric, and broadband infrastructure.
• Sites in Cane Creek and Airside are pre-graded to minimize the upfront construction costs for the company.

• For qualified, credit worthy companies that desire a lease/purchase arrangement, the Danville Industrial Development Authority (IDA) will consider a financing mechanism where payments amortize the principal necessary for the project. If bank financing is utilized, monthly payments will be based on interest charged by the lending institution. If IDA funds are used to finance the project, interest rate will be fixed at market rate. The IDA will charge will charge approximately $100 per month for all financing arrangements.