CITY MAY ADD MORE INCENTIVE ZONES
Fredericksburg has used technology and tourism zones to offer tax rebates to businesses, including Wegmans and Capital Ale House, in Celebrate Virginia and downtown.
Later this year, the City Council could consider adding more of these zones to other parts of the city that it wants want to redevelop.
A new tourism zone could give the city a legal mechanism to offer tax-based incentives to lure businesses to Central Park, where the recession has left a trail of large empty storefronts.
A technology zone could be considered for the U.S. 1 corridor from the Falmouth Bridge south to Cowan Boulevard, to encourage technology-based businesses to help redevelop this area.
Acting Economic Development Director Karen Hedelt told the city's Economic Development Authority recently that city officials are working on plans for these zones, which the City Council would have to adopt as new ordinances.
STAFFORD CONSIDERING TECHNOLOGY ZONES
A subcommittee made up of Supervisors Cord Sterling and Harry Crisp is in the process of drafting a technology zone ordinance for Stafford County.
If passed, it would allow the Department of Economic Development to discuss incentive packages with businesses and present them to the board in closed session.
Economic Development Director Tim Baroody hopes to take the proposal to the board in the next couple of months.
The ordinance would outline a more formal process for companies seeking incentives to locate in the county. Baroody views technology zones as another tool in the county's toolbox.
He said that current discussions anticipate the technology zone could encompass the entire urban services area--generally the center of the county, where public water and sewer are available.
A number of industries could be targeted, but the goal is to attract good-paying, family-supporting jobs to Stafford.
--Emily Battle and Jonas Beals