Caroline County Creates Technology Zones
For: Caroline County Creates Technology Zones
From: Caroline County Board of Supervisors
Percy Ashcraft, County Administrator
Date: August 26, 2009
The Caroline County Board of Supervisors at their August 25th meeting passed an enacting Resolution providing the County with an active Technology Zone Ordinance able to apply substantial incentives for recruiting technology based industries.
Technology Zone incentives do not draw on existing County revenue but allow the Board of Supervisors, with advice from Staff, to rebate taxes for businesses that meet specific guidelines that define them as Technology Companies.
The County may create Technology Zones based on Virginia Statute that define the scope and limits of the program. Special zones for allowing communities in Virginia to provide incentives are strictly confined to firms with high technology investments and cannot be applied to other types of businesses.
Caroline’s Technology Zones are an overlay of exiting land use designations and neither rezone a property to a new definition nor effect real estate taxes. The Technology designation merely defines an area where incentives may be applied for Technology firms. Caroline County appears to have the largest area of Technology Zones of any community in Virginia according to sources at the Virginia Economic Development Partnership.
Potentially the incentives are able to apply for the legal maximum of ten years and can be applied to various taxes effecting businesses that influence their determination in choosing the community for their facility.
Recent creation of Technology Zones in neighboring Counties as well as across Virginia and in other States made Caroline’s traditionally low taxes less compelling as an attraction to new business investment than previously. Caroline’s Technology Zone Ordinance more than levels the playing field in costs to Technology Firms seeking new research or production sites.
The Department of Economic Development & Tourism will implement marketing based on the Technology Zone Ordinance. The Ordinance originated in the County Economic Development Committee headed by Supervisor, Bobby Popowicz.
For Further Information, Contact:
Gary R. Wilson, Director
Caroline County Department of Economic Development & Tourism