Programs & Resources

Working for Your Business

 

Jump to: Business Support l Development Assistance l Financing l Community Initiatives

 

 

The Lynchburg Office of Economic Development and the Lynchburg Economic Development Authority offer a broad range of programs and resources to facilitate business growth, support development, provide financing and improve infrastructure and livability.  Do you have a specific business need, such as expansion support or product development consultation?  Just contact us.  We can arrange and coordinate the resources you need.


Business Support Services


Existing Business Support and Expansion Assistance


The success of our existing businesses is our first priority, and we offer a variety of support programs, initiatives and resources to make sure your business has the tools and environment to grow and prosper.  See what we can do for you below, or just let us know what you need.



 

Market Analysis and Economic Data

We can provide in-depth market analysis and econometric data for your business or development project.  From a simple radius report of demographic statistics to in-depth market segmentation and leakage analysis and real estate market feasibility studies, we can make sure you have the right business information to make the right business decisions.  Put us to work for your business today!

 

Technology Zone


In recognition of Lynchburg’s leadership in tech-based business and industry, the entire City of Lynchburg is now a Technology Zone.  Qualified tech-based businesses are eligible for local tax incentives for net new capital investment and job creation.  Businesses must be certified tech-based businesses.  Click here for more information. 

 

Export Counseling

The Virginia Leaders in Export Trade, or VALET, program is designed to increase your company’s sales and provide your business access to new overseas markets.  A trade manager will direct your business through the free program where your business will receive free consultation and assistance. Visit www.exportvirginia.org for more information.

 

Start-Up Assistance


Cost-free start-up assistance and advising is provided through the Lynchburg Office of Economic Development and the Lynchburg Business Development Centre.  We help you determine feasibility, find financing, develop business plans, and provide marketing, sales and business development consulting.  To begin, visit our Starting a Business page.

 

Business Consulting and Counseling


We offer free consulting services for larger businesses as well.  For qualified businesses and projects, we can bring subject matter experts to bear to assist with research, product development, commercialization and other services.  Simply let us know what you need.

 

LEDA Capital Investment Support


The Lynchburg Economic Development Authority offers support for qualified capital investments in real property, machinery and tools.  Major investments are reviewed, a performance agreement is required and any support must realize a positive return on investment within three years.

 

Job Creation Support


The Virginia Enterprise Zone program, the City’s Technology Zone and the Lynchburg Economic Development Authority offer some form of support for significant job creation.  Please visit our Local Incentives page for more information.  The Lynchburg Office of Economic Development also offers workforce development and job training services in conjunction with partner agencies.

 

New Market Tax Credits and HUB Zones

The City of Lynchburg has Qualified Distressed Census Tracts that provide access to New Market Tax Credits and Historically Underutilized Business Zones incentives.  Though these programs have limited applicability, they are important economic development tools for Lynchburg.

 

Loans and Grants


There are multiple options for business financing in the form of loans and grants.  Ranging from local capital to SBA funds, we can connect you to the capital resources your business needs.  See the financing section below.



 

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Development Assistance


One-Stop Project Review & Pre-TRC


Let us help clear the way for your development project.  Our partner departments can guide you through the plan review and permitting process, and our Pre-TRC meetings will save you time and money.  Contact us before you begin and not only can we act as your liaison, we can make sure you know all the project support available.

 

Enterprise Zone Real Estate Investment Grants


The Virginia Enterprise Zone program provides grants up to $200,000 to support real property investments such as plant expansions or property redevelopment.  Lynchburg has two Enterprise Zones that cover more than 4,200 acres of commercial property.  Click here to learn more.

 

Real Estate Redevelopment & Rehab Credits


The City Assessor administers the Real Estate Rehabilitation and Renovation Program, providing up to five years of tax abatement for qualified projects.  To qualify, the City Assessor must be contacted before project begins. Click here to learn more.

 

Local Redevelopment Grant

Available to commercial property owners within one of the City’s two Enterprise Zones, the grant program provides funding on a reimbursement basis for qualified real estate investments.  This grant offers up to $25,000 for qualified projects with proper permitting and documentation.  For more information, click here.

 

Historic Tax Credits and NMTCs


The historic City of Lynchburg also enjoys the benefits of leveraging state and federal Historic Tax Credits to finance redevelopment projects, along with qualified census tracts to qualify for New Market Tax Credits for large-scale investments.  For more information on Lynchburg’s historic districts, click here.

 

Brownfields Assistance


The Lynchburg Office of Economic Development has led the brownfield testing and remediation effort through our “Fields of Opportunity” program.  Leveraging the support of private property owners and environmental consultants, we have begun the process of addressing brownfield remediation on a city-wide scale.  To support that effort, the City has also been awarded one of the first-ever Virginia Brownfields Assistance Fund Grants, directed toward redevelopment along 5th Street.



 

Infrastructure Assistance


Where applicable, the Lynchburg Office of Economic Development or the Lynchburg Economic Development Authority may provide infrastructure in support of large-scale investments that provide a positive return on investment or expand infrastructure availability overall.


Loans and Grants

There are multiple options for development financing.  We can connect you to the capital resources your project needs.  See the financing section below.

 

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Financing

 

Revolving Loan Fund


The Lynchburg Economic Development Authority offers up to $250,000 for business and development financing at fixed rates with flexible terms.  This fund provides the flexible capital needed to support business creation, expansion and development.  Contact our loan administrator at This email address is being protected from spambots. You need JavaScript enabled to view it.  or call 434-582-6100 for more information.



 

Microloan & Small Business Financing


Microloans for start-ups and micro-business enterprises are available, along with more traditional SBA funding, through the Lynchburg Business Development Centre.  These loans help drive new business creation and support entrepreneurial endeavors.  Please contact the LBDC at This email address is being protected from spambots. You need JavaScript enabled to view it. or call 434-582-6100.

 

Enterprise Zone Grants


Lynchburg enjoys two Enterprise Zones that provide access to cash grants for real estate investments (up to $200,000) and job creation (up to $800 per job per year for five years).  For more information, click here

 

Local Redevelopment Grant


Available to commercial property owners within one of the City’s two Enterprise Zones, the grant program provides funding on a reimbursement basis for qualified real estate investments.  This grant offers up to $25,000 for qualified projects with proper permitting and documentation.  For more information, click here

 

LEDA Capital Investment & Job Creation Grants


The Lynchburg Economic Development Authority offers grants in the form of cash, property or infrastructure as applicable for qualified large-scale investments.  All grants are subject to a performance agreement, availability of funds and return on investment in less three years.  For more information, click here.

 

Commercial Lender Pool


The Office of Economic Development has organized local commercial lenders into a lending pool available to review business and development proposals and loan applications.  In many instances, participating lenders can offer favorable rates.

 

Infrastructure Assistance

Where new development or redevelopment requires private investments in major public infrastructure improvements, LEDA and LOED may support these projects through cost sharing.  LEDA and/or LOED may provide a portion of the cost dependent upon return on investment or expand infrastructure availability.

 

Other Loan Assistance

If our programs can’t fill a specific business financing need, we can connect you with the resources that can.  We are happy to support our corporate partners in their attempts to secure outside grants and loans such as SBIR, STTR and other research assistance financing. Let us know how we can support your needs.

 

State and Federal Resources


The Commonwealth of Virginia provides working capital to qualified small businesses through the Virginia Small Business Financing Authority.  The federal government directs many business financing programs through the Small Business Authority.

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Community Initiatives


James River Arts & Cultural District


Downtown, and portions of 5th Street and Rivermont Avenue comprise the James River Arts & Culture District.  Why is an arts district under economic development?  Because this industry sector is critical to revitalization, business and talent attraction, and tourism.  That’s why LOED offers incentives to arts & cultural businesses locating within the district.  For more information, click here

 

Arts & Cultural Project Grant


Along with incentives for arts and cultural businesses locating within the district, LOED offers the Arts & Cultural Project Grant to support arts and cultural events and activities within the District.  Up to $5,000 is available on a first come, first served basis; the activity or event must be arts and culture related and provide a public benefit and economic impact.  Click here to download the grant guidelines. Click here to download the grant application.

 

Educational Partnerships


LEDA and LOED recognize the importance of supporting quality education in a comprehensive economic development strategy.  That’s why for years we have enjoyed a Master Partnership with Lynchburg City Schools, providing educational programs to 6-12 graders that promote entrepreneurship and business acumen.  LOED has also developed award-winning workforce development and business education programs, to include the Business Rocks Tour, MentorOne and GrowOne.

 

Neighborhood-Based Economic Development


What’s happening in our communities depends on what is happening “on the street;” and that includes business and infrastructure development.  Recognizing the need to engage the entire neighborhood—both residents and businesses—LOED organized partner agencies to deliver a comprehensive approach to economic development that brings all parties together to discuss master planning, infrastructure investments and community needs.

 

GetDowntown & Other Events


LEDA and LOED are proud to support GetDowntown and other events like the Virginia 10-miler that provide economic benefit while illustrating the vibrant character of Lynchburg.  The Hill City couldn’t enjoy its unique character without its unique characters, and we thank them all for coming out to these events.

 

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Virginia's Business One-Stop Lynchburg Retail Merchants Association
Lynchburg Business Development Centre Discover Lynchburg
Region 2000 Economic Development Partnership Lynchburg Neighborhood Development Foundation
Lynchburg Redevelopment and Housing Authority Virginia Development of Business Assistance
Lynchburg Regional Chamber of Commerece Dept. of Housing and Community Development
City of Lynchburg Virginia Housing Development Authority
Virginia Economic Development Partnership Department of Minority Business Enterprise
Fifth Street Community Development Foundation Virginia Department of Taxation
  State Corporation Commission

 

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