Green Jobs Tax Credit (Virginia)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Green Jobs Tax Credit|
|Incentive Type||Industry Recruitment/Support|
|Applicable Sector||Commercial, Industrial|
|Eligible Technologies||Solar Water Heat, Solar Space Heat, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Heat Pumps, Solar Pool Heating, Fuel Cells using Renewable Fuels|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||500 per each job created|
|Terms||Must create a new job in the alternative energy/renewable energy fields. The Department of Commerce and Trade will promulgate rules regarding qualifying jobs.|
|Program Administrator||Office of the Secretary of Commerce and Trade|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
In April 2010, Virginia enacted the green jobs tax credit. For every green job created with a yearly salary of $50,000 or more, the company will earn a $500 income tax credit for five years. The Office of Commerce and Trade will develop a full list of jobs eligible to qualify for the tax credit. Companies will be allowed tax credits for up to 350 green jobs created. If the taxpayer does not have enough tax liability to take the full credit, it may be carried forward for up to 5 years. The program is set to expire on December 31, 2014.
Applicants may also be eligible for the Enterprise Zone Grant Program if creating jobs within defined geographical areas.
Defined as jobs in the manufacturing and operation of renewable or alternative energy products and technologies used to generate electricity and energy.
Alternative Energy Sources
Eligible alternative energy sources are defined as "hydrogen and fuel cell technology, landfill gas, geothermal heating systems, solar heating systems, hydropower systems, wind systems, and biomass and biofuel systems."
|Contact Name||General Information - Green Jobs Tax Credit|
|Department||Office of the Secretary of Commerce and Trade|
|Address||P.O. Box 1475|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||S.B. 623 (duplicate bill H.B. 803)|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.