Existing Businesses

As the business capital of the Richmond Region, Henrico has many programs aimed at helping your business succeed. The Henrico EDA staff would love to talk with you about your business needs to aid in the current and future growth of your company.

Expansion Assistance

Is your business running out of room? Did you recently acquire a new piece of equipment and now need more space to operate it? We can help with these issues, plus a wide range of other business needs that may impact your facility requirements and day-to-day operations. Some of the services we offer include:

• Identifying properties that meet your criteria
• Coordinating tours of potential properties with real estate agents
• Evaluating possible grants and tax credits related to capital investment and job creation
• Tracking progress through various county permitting and review processes such as licenses, finance, inspections, etc.

Incentives

Henrico and the Commonwealth of Virginia both offer incentives for qualifying business expansions. Whether your expansion requires new hires, retraining of existing personnel, purchasing new equipment, or a new building, there may be an incentive that fits your needs. For more information click here.

Business First

Business First is an active team of volunteers who visit with our local Henrico companies throughout the year to learn more about their successes, obstacles, and the resources they need. Reported directly back to EDA staff, this information helps us learn more about local companies and identify ways we can help.

The Henrico EDA can be your main point of contact for these services:

• Real Estate Assistance
• Workforce Assistance
• Navigation of Tax Credits, Grants, and Incentives
• Exporting and International Trade
• Local, State, and Federal Government Interactions

Virginia Economic Development Partnership

Economic Gardening

Economic Gardening is an economic development program that helps second-stage companies by delivering customized mentoring to address strategic growth issues. Second-stage companies are defined as having 10-99 employees and $1 million to $50 million in annual revenue.

This customized mentoring and research addresses five key areas for the business: core strategy, market dynamics, innovation, temperament, and qualified sales leads. The research is achieved through commercial databases, geographic information system (GIS) mapping, search engine optimization, and digital marketing. Armed with this very detailed information and analysis, your business can begin to craft its future growth.  This program is offered by the National Center for Economic Gardening in conjunction with the Virginia Economic Development Partnership (VEDP). For more information on Economic Gardening and how to get involved, please contact the Henrico EDA.

VALET Program

VALET is a two-year international business acceleration program that encourages local businesses to create dynamic export models to expand their corporate reach into new international markets. This award-winning program offers a powerful combination of capital resources provided by the Commonwealth and professional services from expert private sector partners.

Program benefits include executive training, international sales plan development, educational events, and customized research. The VALET program generates an average increase in international sales of 54% for participating companies.

For more information on the VALET program please click here.

SBA

Scaling4Growth

This six-month program helps businesses learn how to increase revenue and job creation. The criteria for being accepted into the program are:

• In business at least three (3) years
• Revenue of at least $250,000
• One other full-time person working in the company besides self
• Certified as a SWaM (small, woman-owned, or minority-owned) business by the Virginia Department of Small Business and Supplier Diversity
• Time commitment to the class of every Thursday for six months; classes will be held in the Richmond area

For more information on this program, please click here.