Search
Close this search box.

Industrial

Industry in Saltville

Saltville has historically been an industrial town, but modern-day Saltville is now home to manufacturing and service industries as well as a growing tourism industry. Saltville is within a one day drive of over a third of the US population – making it an ideal market location and tourism destination. Saltville is also located on the Interstate 81 transportation corridor, providing easy access to the Tri-Cities Metropolitan Area (Bristol, Kingsport and Johnson City), a wide range of services, colleges and universities and a population of over one million people within 60 miles.

SIDA: Saltville Industrial Authority
Email: sida@saltville.org

Advantages to Starting or Expanding Business in Saltville, VA

There are a wide range of advantages for Virginia-based businesses, especially Saltville-based businesses. Companies have improved their bottom lines just by locating in Virginia. From soft costs like healthier, more productive workers, to hard costs like cheaper, available and reliable electricity, these companies have benefited from the combination of resources that only a Virginia location can offer.

It’s easy to compare Virginia’s tax rates, business costs, and even workforce characteristics to those of other states via www.yesvirginia.org and then click on Data Center/Compare Virginia.

Saltville-based businesses enjoy some of the lowest operational costs in Virginia. Saltville businesses pay taxes to the Town of Saltville and Smyth or Washington County, depending on which part of town they’re located in. See how low cost we are by using our tax & utility calculators.

  • Virginia manufacturers have one of the lowest average workers’ compensation costs in the country. At $2.29 per $100 of payroll for January, 2004, it’s 41 percent lower than the national average.
  • Unemployment tax burden is more than 90 percent lower than the national average.
  • Building construction costs in Virginia are 20-25 percent less than the national average

Financing

For large and small businesses alike, there are affordable financing options available to Saltville businesses. Check out these financial services directly, or Saltville’s Economic Development Department will gladly facilitate the process for you.

  • Southwest Virginia Community Development Financing Inc.
    • For microbusinesses see www.businesstart.org
    • For small & medium businesses contact: Phillip Black, Director of Community Economic Development (276) 623-9000 or pblack@peopleinc.net

Tax Refunds & Reduced Service Fees

Businesses that create new jobs or bring new investment to Saltville, and are located in the Saltville Enterprise Zone, can receive tax refunds as listed below.

  • Business & Professional License (BPOL) Tax – Town of Saltville
    • 2 – 9 new jobs warrant a 30% reduction
    • 10 – 24 new jobs warrant a 40% reduction
    • 25 or more new jobs warrant a 50% reduction
      This benefit can be received 5 consecutive years if the new jobs are maintained.
  • Machine & Tools Tax – Town of Saltville and Smyth County Businesses that invest in new machinery & tools and create new jobs may qualify as follows:
    • 10 – 24 jobs warrant a 50% reduction of increased assessment
    • 25 or more jobs warrant a 100% reduction of increased assessment
      This benefit can be received 5 consecutive years if the new jobs are maintained.
  • Real Estate Rehabilitation Tax Credit – Town of Saltville & Smyth County A nine-year decreasing exemption on the increase in assessed property value for certain industrial or commercial buildings over 15 years old.

Reduced Service Fees

Businesses that create new jobs and are located in the Saltville Enterprise Zone can receive reduced service rates as follows:

  • Water & Sewer Fee Reduction – Town of Saltville
    • 2 – 9 new jobs warrant a 30% reduction
    • 10 – 24 jobs warrant a 40% reduction
    • 25 or more jobs warrant a 50% reduction
      This benefit can be received 5 consecutive years if the new jobs are maintained.
  • Broadband Access Connection – Town of Saltville Businesses creating 5 or more jobs may qualify for a 50% reimbursement of their cost to access high speed internet and/or fiber optic connectivity.
  • Building Permit Fee Waiver – Smyth County Commercial and industrial properties qualify for a refund of building permit fees.