Technology Zones

Virginia’s towns have the ability to establish, by ordinance, one or more technology zones to attract growth in targeted industries. Establishment of a technology zone allows localities to create special incentives and certain regulatory flexibility for qualified businesses locating or expanding operations within a zone. Contact Katherine Goodwin 804.545.5794 kgoodwin vedp.org Contact Eligibility Qualified businesses locating or expanding operations in a zone may receive local permit and user fee waivers, local tax incentives, special zoning treatment or exemptions from ordinances. Once a local technology zone has been established, incentives may be provided for up to ten years. Each locality designs and administers its own program. Benefits from the Technology Zone are offered by the administering locality. Process Each locality designs and administers its own program . Companies interested in the benefits of locating in a Technology Zone should contact the locality being considered for the expansion or location of new operations to see if the locality has established an ordinance enacting a Technology Zone. Resources Code of Virginia FAQ How long are incentives available in a Technology Zone? Local incentives may be provided for up to 10 years once a Technology Zone has been established. Does being in a Technology Zone preclude being designated as an Enterprise Zone? The establishment of a technology zone shall not preclude the area from also being designated as an enterprise zone.

Eligibility Qualified businesses locating or expanding operations in a zone may receive local permit and user fee waivers, local tax incentives, special zoning treatment or exemptions from ordinances. Once a local technology zone has been established, incentives may be provided for up to ten years.