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Author
Chad Costello
Description
Enterprise Zones. Zone III originated in 1995 with a 20-year time-span. This zone primarily covered areas in the Downtown area and commercial and industrial properties north of the James River and west of I-95. At that time a portion of residential parcels was included. Eight (8) years later, Henrico County and the City of Richmond applied for a Joint Zone (connecting at Broad Street and Brook Road). At that time, the original 20-year zone time was retained. The Joint Zone (Zone III/formerly North Zone) had a sunset date of December 31, 2014. In 2012, Henrico County contacted the Virginia Department of Housing and Community Development (DHCD) requesting that they be allowed 20 years for Zone III as a joint zone resulting in a sunset date of December 31, 2022. At the end of 2014, both the City and Henrico County applied for a Redesignation of Zone III from DHCD; the Redesignation application was approved in January of 2015 by the Virginia Commonwealth resulting in an extension of Zone III for both the City and Henrico County. The official sunset date was set at December 31, 2022. Contentwise, the Redesignated Zone III encompasses the commercial and industrial areas north of the James River including and west of I-95. Also, commercial corridors north of the James River and east of I-95 are included as well as Shockoe Bottom. Lastly, the Hull Street and Hull Street Road Corridors, Belt Boulevard between Hull Street Road and Midlothian Turnpike and Midlothian Turnpike corridor between the City line and Belt Boulevard are incorporated.
Category
Economic Growth
Tags
economic, enterprise zone
Rating
Current value: 0 out of 5
Data Provided By
Department of Economic and Community Development
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  • 500x425

  • 760x646

  • 950x808

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