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Two businesses are poised to take advantage of city's new technology zone incentive rules
CBAI & Associates' plans to lease space in Eagle Village
Delayna Earley FOR THE FREE LANCE-STAR
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Date published: 8/22/2010
Two area businesses are poised to be the first to take advantage of a Fredericksburg incentives program aimed at attracting technology-focused companies.
City Council on Tuesday night will vote on amending Fredericksburg's technology zone ordinance, which determines what types of business qualify, where they must locate and how much money they need to invest.
Council also will likely vote at the meeting on whether to approve performance agreements for two defense contractors that would qualify for incentives under the new rules.
QRC Inc. has signed a five-year lease for 9,500 square feet of office space at 1211 Central Park Blvd. The company was founded in 1987 and is now located on U.S. 1 in Stafford County just south of Garrisonville Road.
QRC looked at other office space in south Stafford and Spotsylvania County, said company President Roger Matherly. He chose the Fredericksburg site partly because of the incentives but also because it suited the company's space needs and is in an area defined by the U.S. Small Business Administration as a Historically Underutilized Business Zone. That gives contractors an edge when bidding for federal jobs.
The other company poised to take advantage of the new rules is CBAI & Associates, which was founded in 2005 and is now located at 1701 Fall Hill Ave. in Fredericksburg. CBAI plans to lease a little more than 3,000 square feet in the new office space at Eagle Village across from the University of Mary Washington. Carl Lawson Jr., the company's chief operating officer, said the five-year lease is contingent on the incentives deal.
Both CBAI and QRC are looking to move into their new space by November.
City Council first approved the technology zones in 2007, but they haven't been used before now due in part to their restrictiveness. Qualifying businesses had to locate along State Route 3 east of Interstate 95 or on Gateway Boulevard. Businesses had to bring at least 25 new jobs or invest $500,000, and the incentives agreements lasted up to 10 years.