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EDA/IDA Board Meeting
September 5, 2025
Page 5
Mrs. Kingston stated that staff has been actively managing its Enterprise Zones through
renewals and boundary adjustments and is now turning its attention to aligning eligibility
criteria across programs for consistency. She emphasized that this shift also follows
feedback from the Small Business Roundtables earlier this month and reflects a desire to
improve accessibility while aligning local programs with state requirements.
Mrs. Kingston explained that proposed amendments include changes to the
Expansion/Relocation Cost Reduction (ERCR) incentive and the partial refund of the
Business, Professional, and Occupational License (BPOL) fee as well as local gas and
electric taxes. She explained that current ERCR eligibility requires $2.5 million in capital
investment and 25 new full-time jobs averaging $10 per hour, noting the amendment would
lower thresholds to $1.5 million investment and 15 jobs paying 150% of the state minimum
wage ($18.26 per hour). Mrs. Kingston added that these revisions align with the
Commonwealth’s Development Opportunity Fund and the State’s Job Creation Grant wage
requirements. She further explained that the Partial Refund Program for fees and taxes
would also be streamlined to $50,000 in taxable investment and two new jobs in any
Enterprise Zone, in addition to standardizing the benefit across the zones.
Mrs. Kingston advised that the amendment process requires City Council approval and
submission to the Virginia Department of Housing and Community Development (DHCD)
by November 1st, noting that DHCD approval would be required by year-end to enact the
changes. She remarked that these amendments will reduce barriers for businesses, align
with state standards, and create uniformity across zones, while directly responding to
concerns raised by local business owners.
Mrs. Kingston reported that Newport News and Hampton’s joint 2025 Excellence in
Economic Development Awards entry earned a Gold recognition from the International
Economic Development Council (IEDC). She shared that the award was in the “Regional
or Cross-Border Partnership” category for their collaboration on Liebherr Mining Equipment
Co.’s expansion. She said that IEDC’s annual Excellence Awards recognize organizations,
initiatives, and projects that have transformational community impacts. She stated that one
judge noted, "This is an excellent example of the very hard work that goes on behind the
scenes in economic development to make big things happen. Addressing interjurisdictional
projects is exceptionally hard to pull off, and make it look easy for the employer and the
community." Mrs. Kingston stated that Newport News and Hampton will be acknowledged
and honored this September at the IEDC 2025 Annual Conference in Detroit, Michigan and
emphasized that this recognition underscores the value of collaborative economic
development.
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