The Virginia Enterprise Zone (VEZ) initiative is a collaboration between the Commonwealth of Virginia and local governments, aimed at boosting job creation and investment in real property. This program seeks to stimulate economic growth and rejuvenate economically challenged areas at both local and regional levels.

Originating in 1982, VEZ began as a tax credit initiative. Subsequently, the Enterprise Zone Grant Act of 2005 replaced the prior tax credit benefits with two new grants: the Real Property Investment Grant (RPIG) and the Job Creation Grant (JCG). These grants are tied to performance, necessitating companies to meet specific job creation criteria and/or initiate real property investments before becoming eligible for grant consideration. The 2005 act also permitted prequalified businesses to maintain access to the former general income and investment tax credit incentives. The tax credit program reached its official conclusion in 2019.

Virginia comprises 45 enterprise zones, covering approximately 245 square miles. These zones are located within 20 cities, 34 counties, and 12 towns. In the 2023 Grant Year (GY2023), 17 out of 45 zones were categorized as joint zones, which includes zones designated jointly by counties and towns before 2005. Additionally, 12 localities had two enterprise zone designations.