Incentives

In addition to an exceptional quality of life, access to sixty percent of the Nation’s population, and convenience without associated costs, crowds and congestion, Culpeper County Economic Development offers the following incentives to businesses:

Partnership for Economic Development and Job Training

Eligible businesses:

• Can receive reimbursement of 100% of Machinery and Tools (M&T) taxes for three years for investments over $500,000
• With fewer than 26 employees can receive this incentive for investments over $250,000
• That invest over $3,000,000 can receive an additional 50% of M&T taxes for years 4 and 5
• Can receive up to 50% of the new real and personal property taxes for approved employee training for a period of five years
• Can receive up to 25% of the new real and personal property taxes for approved employee training for an additional five years (years 6-10)

Technology Zone

Grants within the Technology Zone equal up to 40% of all taxes paid to the County for the five years after project completion. Initial year grant also includes cost for all site plan and building plan fees. Businesses can qualify if they invest $10 million and hire 10 new full-time equivalent employees in a given calendar year.

• Culpeper County – Culpeper Technology Zone Map

Accelerated Depreciation

In addition to direct incentive payments, Culpeper County has adopted an accelerated depreciation schedule for the assessment of business personal property including machinery and tools. The following factors are used to depreciate business property assessments for County tax purposes:

Year 1 – 70% of Original Cost
Year 2 – 60% of Original Cost
Year 3 – 50% of Original Cost
Year 4 – 40% of Original Cost
Year 5 – 30% of Original Cost
Year 6 + 20% of Original Cost

In order to assist knowledge-based businesses, Culpeper has adopted a more aggressive depreciation schedule for computer equipment including mainframes, personal computers and related equipment. The following factors are used to depreciate computer equipment assessments for County tax purposes:

Year 1 – 65% of Original Cost
Year 2 – 50% of Original Cost
Year 3 – 40% of Original Cost
Year 4 – 30% of Original Cost
Year 5 + 20% of Original Cost

Additional incentives may be available through Culpeper County and the State of Virginia.