Deputy County Administrator Tim Baroody presented the Stafford Board of Supervisors with an idea last night that could make the county a more attractive place to locate a business.
Technology zones, as explained in the Code of Virginia, allow a locality to provide businesses with myriad incentives in the hopes of attracting more and better-paying jobs.
The zones are highly flexible--allowing the county, town or city to specify the incentives, which can take many forms including tax breaks, fee reduction, special zoning and ordinance exemption. It is up to the local government to determine the scope of the incentives, qualifications that must be met, and the area where the incentives will apply. There is no restriction on the size or number of the zones.
"We've never been in the incentive business here in Stafford," Baroody said, explaining why the county hasn't pursued the option, which has been available for years. "Our location sells itself.
"We may need an additional tool in this tough economy," he admitted.
At this point, Stafford's plans for technology zones are strictly conceptual, although board members directed staff to craft a draft ordinance to get the process moving.
Currently, there are 21 localities in the state with technology zones, including Falls Church, Arlington County, Kilmarnock and Charlottesville. Baroody mentioned that Spotsylvania is also pursuing technology zones.
The proposal was met with enthusiasm from the board. "Anything we can do in-house without additional costs that encourages economic development is good," supervisor Paul Milde said. He was quick to point out that the Business, Professional and Occupational License tax could be waived in a technology zone.
In fact, any number of incentives can be extended to a qualified business and supervisors can, in essence, custom-fit an incentives package for an eligible company. Even existing or expanding businesses may be eligible for the benefits. The program could be a complement to scheduled redevelopment in areas like Boswell's Corner, the Southern Gateway and the Courthouse.
Baroody envisions using the tool to attract large, relatively high-tech businesses that provide jobs with good wages and a low environmental impact. "In my mind, defense-contracting businesses would be the target," he said.
Supervisor Cord Sterling warned against overlooking smaller businesses when crafting the program--something staff will consider. It will take some time to determine the goals of the program and work through the details of an effective ordinance.
"It won't turn Stafford into a booming metropolis overnight," Baroody said.
Jonas Beals: 540/368-5036
Email: jbeals@freelancestar.com