Local Incentives

Chesapeake offers various performance-based incentives for new and expanding companies.

  • EDIP

    With 351 square miles of land area, there are many real estate opportunities available to meet the needs of any business, retailer, or corporation.

  • Foreign Trade Zone

    The area has achieved great success in recruiting and retaining new and existing companies that have an impact and strong community presence.

  • Brownfield Restoration Program

    Allows the City of Chesapeake to exempt, or partially exempt environmental restoration sites from local taxation annually for a period, not in excess of five years.

South Norfolk Incentives

The South Norfolk business district, or “SoNo,” is Chesapeake’s urban neighborhood. The community is lined with historic buildings and homes and blessed with excellent access to major interstates, the South Norfolk Jordan Bridge, and Chesapeake’s working waterfront.

  • SoNo Hub Zone

    The program encourages economic development in historically underutilized business zones, called “HUBZones.”

  • SoNo Technology Zone

    The technology zone acts as an overlay district offering incentives to a new or existing business located within the designated area.

  • SoNo Revitalization District Tax Exemption

    Offers a partial exemption from taxation of real estate for buildings and structures that undergo substantial rehabilitation, renovation, or replacement for commercial or industrial use.

  • SoNo Opportunity Zones

    South Norfolk has two Opportunity Zones, which allow investors to receive tax benefits on currently unrealized gains by investing those gains in the qualified census tracts. Search for Opportunity Zones using an interactive map.

State Incentives

Virginia eagerly works with businesses with incentives designed to target the needs of both the company and the development plans of localities and the state.

  • Investment Incentives

    Virginia offers investment-based incentives for new and expanding companies in Chesapeake.

  • Workforce Incentives

    Virginia values a strong labor force in Chesapeake by providing various workforce-based incentives.

Federal Incentives

The U.S. federal government offers various financial incentives to help businesses grow, many can be paired with other State and Local incentives.

  • Opportunity Zones

    Chesapeake has three Opportunity Zones, which allow investors to receive tax benefits on currently unrealized gains by investing those gains in the qualified census tracts. Search for Opportunity Zones using an interactive map.