Economic Development is a top priority for Town Council as evidenced by the designation of 0.5% of all meals tax receipts collected going to fund economic development initiatives only. Town Council, in collaboration with the Town of Bedford Economic Development Authority, has established a renewed effort to attract new economic development opportunities leveraging various grants and performance-based incentive programs. As part of the Economic Development expansion, Town Council continues to have a major focus on community planning and the level of service required for accommodating growth and providing resources for a sustainable future.
The Town was awarded a Rural Business Development Grant from USDA to issue low-interest loans to new and existing businesses. For every job you create or retain in the Town of Bedford, you can borrow $5,000 at 2% interest for 5 years - "5 for 5"! Questions? Email Mary.
- Power - Local, renewable, reliable and affordable
- Water - Industry compatible, redundant, abundant supply
- Internet - 400 Gigabyte "backbone" access
- Sites - New and existing building options
- Location - Mid-Atlantic advantage
- Incentives - Local and State available
- Work Force - Daily commute to 500,000
- Low Costs - Utilities and taxes
- Quality of Life - Schools, recreation, and low crime @(Model.BulletStyle == CivicPlus.Entities.Modules.Layout.Enums.BulletStyle.Decimal ? "ol" : "ul")>
There are several incentives available in the Enterprise Zone and downtown area for property improvements. Within the Enterprise Zone there are also property incentives from Virginia for property improvement and job creation. For additional information and to see where the rebates apply, see the map below and contact Mary for more information.
The Economic Development Authority adopted its Incentive Policy for all other incentives in May 2019. If you need assistance that doesn't fit the real property or jobs incentives, please let staff know to see if the EDA can help.
Economic Development Authority
The general purpose of the Authority is to promote industry, develop trade, and promote the attraction and retention of businesses located within the Town limits. The Economic Development Authority of the Town of Bedford, Virginia, fulfills all the purposes and intents of the General Assembly of Virginia, in Title 15.2, Chapter 49, of the Code of Virginia, 1950, as amended, and by any other enactment adopted by the General Assembly. The Authority fulfills all purposes and intents of the Town Council of the Town of Bedford, Virginia and serves at the appointment of Council. The seven member body serves in rotating 4-year terms of appointment.