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The Franklin News-Post
P. O. Box 250
310 Main Street, SW
Rocky Mount, Virginia 24151
540-483-5113
Fax: 540-483-8013

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Rocky Mount to lose Enterprise Zone status
Businesses are encouraged to file for benefits before the end of 2013
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Matt Hankins

Wednesday, November 28, 2012

By KEN BRADLEY - Staff Writer

The Town of Rocky Mount will be stripped of its Enterprise Zone designation at the end of 2013.

That means the town will no longer be able to offer businesses access to local and state financial benefits for property investment and job creation, according to Assistant Town Manager Matt Hankins.

The town is no longer eligible for the Enterprise Zone because of state program requirements, Hankins said.

The Enterprise Zone has been of critical importance in attracting jobs and capital investments during times of economic change and stress in Rocky Mount, he said.

The town is working with Franklin County to identify possible joint enterprise locations that may benefit both the county and the town, Hankins said.

"However, there is no guarantee that we will score high enough to receive any future designation by the state," he added.

For now, businesses still have more than a year to plan and implement changes to take advantage of state real property investment and job creation incentives within the existing Rocky Mount Enterprise Zone, Hankins said.

"Building investments qualify so long as they are complete and placed in operation with a certificate of occupancy issued on or before Dec. 31, 2013," Hankins said. "Job creation is eligible within the same time period."

Businesses currently receiving Enterprise Zone benefits will continue to receive the incentives until they reach their expiration date, Hankins said. And if a business has not taken advantage of the Enterprise Zone program, this can still be be done if the business files by the end of 2013.

More information about the Enterprise Zone can be obtained by calling Hankins at 483-0907.

 
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