Incentives
Prince William County has created a pro-business climate utilizing fast-track permitting for targeted industries, competitive real estate and personal property tax rates, aggressive tax depreciation schedules and unique local financing opportunities. These, combined with business incentives offered by the Commonwealth of Virginia, make Prince William County a strong competitor for new business in both national and international markets.
Local incentives
30-Day Fast Track Permitting
All targeted industries requiring site and/or building permits may be eligible for the County’s guaranteed 30-day permit processing.
| Fast Track Permitting Timeline |
| Pre-submission |
Hold Site & Building Pre-design Meeting
Hold Sketch Meeting |
| Day 1 |
Submit Final Site Plan
Submit Early Grading Plan (optional)
Submit Building Plan
Submit Footing/Foundation Plan (optional) |
| Day 6 |
Issue Footing/Foundation Permit (if submitted)
Issue Early Grading Permit (if submitted) |
| Day 16 |
Transmit Final Site & Building Plan Comments |
| Day 21 |
Hold Site Plan Post-Submission Meeting
Hold Critical Structure Meeting |
| Day 30 |
Approve Final Site Plan
Approve Final Building Plan |
PWC Economic Development Opportunity Fund
The Prince William County Board of Supervisors maintains an opportunity fund to help attract and retain targeted industries. The Board of County Supervisors may authorize the use of these funds upon the recommendation of the Department of Economic Development. Funds may be used for infrastructure improvements, site preparation, work force services, and/or capital equipment purchases.
Low Business Tangible Personal Property Tax Rates
In addition to highly competitive tax rates for business property, Prince William County offers aggressive depreciation schedules for business property. Generally, business property (with the exception of programmable computer equipment and peripherals) is assessed at 85% of its original cost in the year acquired. The percentage decreases in 10% increments each year thereafter. The depreciation schedule for computer equipment is shown below:
| Computer Equipment Depreciation |
| Year 1: |
50% of original cost |
| Year 2: |
35% of original cost |
| Year 3: |
20% of original cost |
| Year 4: |
10% of original cost |
| Year 5: |
5% of original cost |
Commonwealth of Virginia Business Incentives
Governor's Opportunity Fund
Discretionary funds available to the Governor to secure a business location or expansion project forVirginia. Grants are awarded to localities on a local matching basis with the expectation that the grant will result in a favorable location decision for the Commonwealth.
Workforce Services
A program that offers customized recruiting and training assistance to companies that are creating new jobs or experiencing technological change. The program is designed to reduce the human resource development cost of new and expanding companies.
Virginia Investment Partnership Grant Fund
A discretionary investment performance grant program for existing Virginia manufacturers, research and development services supporting manufacturing, and large basic employers. The program is targeted to companies that have operated in Virginia for at least five years and that are proposing expansion projects that meet certain criteria.
Sales and Use Tax Exemptions
Virginia offers some of the broadest sales and use tax exemptions in the U.S.
Property Tax Exemptions
Virginia does not tax intangible property, manufacturers' inventory, and manufacturers' furniture, fixtures and corporate aircraft.
Virginia Small Business Financing Authority (VSBFA)
VSBFA offers programs to provide businesses with access to capital needed for growth and expansion. The programs are as follows:
- Industrial Development Bonds and the Umbrella Bond Program
- Virginia Economic Development Loan Fund
- Loan Guaranty Program
- Child Day Care Financing Program
- Virginia Capital Access Program
- Small Business Environmental Compliance Assistance Fund
- Southside Region Tobacco Capital Access Program
Foreign Trade Zones
Virginia offers six foreign trade zones designed to encourage businesses to participate in international trade by effectively eliminating or reducing customs duties.