Funding & Incentives · Mathews County, Virginia
Local grants, state incentives, and federal programs stack together in Mathews County. The EDA knows every one of them and will help you identify which apply to your project.
How it actually works
Most incentive programs require a local government partner to make the application. That's the EDA's role — we know which programs Mathews qualifies for, which have open application windows, and how to combine them so your project gets the most it can.
Programs that don't require our direct involvement — SBA loans, USDA financing, historic tax credits — we still help you navigate. We'll point you to the right contacts, tell you what documentation you'll need, and stay with you through the process.
The best outcome is usually a combination of two or three programs working together. That's where the EDA adds the most value.
EDA Loan Fund · Small Business Investment Grant · direct EDA support
VJIP · AFID · Historic Tax Credits · COF · and more
USDA Rural Development · SBA 7(a) · SBA 504 · Historic Tax Credit
Not sure which apply to your project?
Ask the EDAAll programs
Low-interest loans for businesses locating or expanding in Mathews County, administered directly by the EDA Board.
The EDA will be in touch within 2–4 weeks.
A 50% matching grant up to $5,000 for exterior improvements to existing commercial properties in Mathews County. First-come, first-served while funds last.
The EDA will follow up within 2–4 weeks.
VJIP provides cash grants and services to companies creating new jobs or retraining existing employees in conjunction with new or expanding Virginia operations. Funding offsets recruitment and training costs, and is reimbursed 90 days after a new position has been filled.
Administered through the Virginia Economic Development Partnership (VEDP). The EDA works with VEDP on your behalf to make this program accessible to smaller projects in Mathews.
Governor's discretionary grants to localities for businesses that add value to Virginia-grown agricultural and forestry products. For Mathews, this is the most natural fit for aquaculture, seafood processing, shellfish operations, and food production businesses.
Why this matters for Mathews
Sea Farms, shellfish operations, and value-added seafood businesses are the exact use case AFID was designed for. If you're in aquaculture or food production, this is the first call to make.
If you're rehabilitating a historic building in Mathews, you may qualify for substantial tax credits: Virginia provides a 25% credit on qualified rehabilitation expenditures, stackable with the federal 20% Historic Tax Credit — a combined 45% offset against qualified project costs.
Mathews has significant historic commercial and maritime building stock. Williams Wharf Landing, the downtown courthouse area, and numerous 18th–19th century structures may qualify.
The Governor has discretionary authority to provide grants through the COF in competitive situations where Virginia is competing against another state for a business attraction or expansion project. Grants go to local governments who disburse funds to the qualifying company.
This is a deal-closing tool, not a routine program — it's most useful in the final stages of a site selection process. The EDA coordinates with VEDP to make a COF application when appropriate.
Mathews County is confirmed USDA rural-designated
USDA Rural Development offers grants, loans, and loan guarantees for businesses in rural areas. Mathews County's USDA rural designation is confirmed — every business in the county is eligible to explore these programs.
7(a), 504, and Microloan programs
The Small Business Administration offers several loan programs accessible through participating lenders. The EDA can help connect you with the right SBA-preferred lender and advise on which program fits your financing need.
Up to $5M for working capital, equipment, real estate. Most flexible structure.
Long-term, fixed-rate financing for major fixed assets. Requires 10% borrower equity.
Up to $50,000 for startups and early-stage businesses.
20% credit — stacks with Virginia's 25% for combined 45%
The Federal Historic Tax Credit provides a 20% income tax credit for the rehabilitation of income-producing historic buildings. Combined with Virginia's 25% credit, projects can offset up to 45 cents of every qualifying dollar spent on rehabilitation.
The stacking advantage
For example: an aquaculture business rehabilitating a historic waterfront building could simultaneously access the EDA Loan Fund, AFID, Virginia and federal Historic Tax Credits, USDA Rural Development financing, and the Small Business Investment Grant for exterior improvements.
Get matched
Fill out the form and the EDA will come back to you with a list of programs that may apply to your specific project — no pressure, no obligation, just a clear picture of what's available.
Your contact info
About your project
Programs you're curious about (check all that apply)
We'll respond within one business day.
The EDA will review your project and reach back out within one business day with a list of programs that may apply.
