Carrollton is currently targeting companies from the below industries. Expand each industry for more context.
Carrollton, VA, focuses on advanced manufacturing, emphasizing the production of high-tech and innovative products. This sector is targeted for its potential to create high-value jobs and attract investments in cutting-edge manufacturing technologies.
The healthcare and social assistance sector is a key focus in Carrollton due to the growing demand for health services and the community's emphasis on improving public health outcomes. This industry is targeted for expansion to provide quality healthcare services and generate employment opportunities.
Information Technology is a priority sector for Carrollton, VA, aiming to leverage the digital economy and foster innovation. The focus is on attracting IT companies and startups, promoting technological advancements, and preparing the workforce with the necessary digital skills.
Carrollton Economic Development Team
Nicole Talton
Economic Development Coordinator
Isle Of Wight County Economic Development
Taxes in Carrollton, VA
Sales Tax: The sales tax rate is 6%, equivalent to $6 per $100.
Corporate Income Tax: The corporate income tax rate is 6%, which translates to $6 per $100.
Property Tax: The property tax rate varies by locality, with an average rate of $0.84 per $100 in value.
More comprehensive tax data for Carrollton is coming soon!
Featured Profiles
Business and Tax Incentives in Carrollton, VA
Carrollton offers a variety of economic incentives to help businesses at the local, state, and federal level.
Virginia Jobs Investment Program (VJIP)
The VJIP provides services and funding to companies creating new jobs or experiencing technological change. It is designed to reduce the human resource development costs of new and expanding companies.
Commonwealth’s Development Opportunity Fund
This fund is a discretionary incentive available to the Governor of Virginia to secure a business location or expansion project. It provides financial assistance for projects that create new jobs and investment in accordance with certain criteria.
Virginia Enterprise Zone (VEZ) Program
The VEZ program provides state and local incentives to businesses that invest and create jobs within Virginia's enterprise zones, which are areas targeted for economic revitalization. Incentives include job creation grants and real property investment grants.
Reviews
Let’s see what local businesses have to say about doing business in Carrollton.
FAQs about Carrollton, VA
New businesses in Carrollton can benefit from the Virginia Jobs Investment Program (VJIP) by receiving support in workforce training and recruitment. The program helps reduce the costs associated with hiring and training new employees, making it easier for businesses to expand and thrive.
Businesses eligible for the Commonwealth’s Development Opportunity Fund typically are those that can demonstrate a significant impact on the local economy through job creation and investment. They must meet specific investment and job creation criteria to qualify.
Businesses in Carrollton located within a Virginia Enterprise Zone may be eligible for job creation grants, which reward companies for creating new jobs with competitive salaries, and real property investment grants, which provide incentives for investments in property improvements and expansions.
Carrollton is focusing on sectors such as advanced manufacturing, healthcare and social assistance, and information technology. These sectors are targeted due to their potential for creating high-value jobs, driving innovation, and meeting the community's needs.
Carrollton’s strategic location near major transportation arteries and its proximity to the Hampton Roads metropolitan area enhance its appeal to businesses. This location offers easy access to urban amenities, major markets, and transportation networks, facilitating business operations and logistics.
Educational institutions in the Hampton Roads area, such as Christopher Newport University and Thomas Nelson Community College, contribute to Carrollton’s economic development by providing a skilled workforce. They offer diverse programs that equip students with the knowledge and skills needed in key industries, supporting the local economy.
Carrollton supports a high quality of life through its safe neighborhoods, community-oriented atmosphere, and numerous recreational opportunities. The city's parks, outdoor activities, and proximity to the James River allow residents to enjoy a balanced lifestyle that combines urban conveniences with natural beauty.
McKinney offers an inviting landscape for businesses to prosper while enjoying the city's unique blend of heritage and business growth.
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