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New Tourism Zones offer incentives for tourism-related businesses to locate in special districts in Spotsylvania County Date published: 10/20/2009
Tourism-related businesses like wineries, museums and hotels now have a better reason to locate in certain parts of Spotsylvania County: tax breaks.
Supervisors on Oct. 13 unanimously approved the creation of tourism zones for the Courthouse and Lake Anna areas. The tourism zones are similar to the technology zones supervisors approved earlier this year, which offer tax breaks to technology businesses that locate in the county's three technology zones. The county is focusing on creating a business-friendly environment, and supervisors have credited the Economic Development Department and the Economic Development Authority for being creative during difficult economic times. Other examples of tourism-related businesses are recreation and athletic facilities, historical sites, family-oriented destinations and tours. Qualifying businesses that locate in a tourism zone are offered rebates on the Business, Professional and Occupational License tax or the machinery and tools tax over a five-year period. These zones may be particularly helpful to W.J. Vakos Company's Courthouse Village project, which plans to locate a Civil War Life museum within its development of various types of homes, business and offices. Spotsylvania ranks high in tourism in Virginia, chiefly because of two major Civil War battlefields, said Economic Development staff. For an existing tourism-related business to qualify for incentives, it must make at least $250,000 in capital investments in the base year. For a new tourism-related business, it must make at least $500,000 in capital investments in a tourism zone.
At the Oct. 13 public hearing, EDA Chairman Steve Thomas said the EDA is excited about the tourism zones. He said it may be just the second tourism zone ordinance that exists in the state. "That means we are going to be trailblazers here in a lot of ways," he said. Supervisor Gary Skinner said the tourism zones should be a positive addition for the county. "This opens up a tremendous amount of business. This is an excellent start," he said.
Dan Telvock: 540/374-5438
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