The City of Fredericksburg has created several designated technology zones within the City limits in an effort to attract more investment into areas prioritized in the JumpStart! Plan as well as the City’s Comprehensive Plan. Qualified new or expanding businesses that are interested in locating in one of these five (5) zones may be eligible for incentives.
The five (5) Technology Zones are:
Map of Technology Zones – For a more detailed view visit FredGIS.
The eligibility requirements for all five (5) Technology Zones are as follows:
The level of incentives is determined based on the size of the capital investment, the number of jobs created and how the project meets the following areas of interest to the City of Fredericksburg.
Technology Zone Informational Flyer
The Technology Zone ordinances outline the eligibility requirements for projects to be considered for incentives:
Each project must submit a project description and financial projections, along with an incentive application, to the City of Fredericksburg’s Department of Economic Development and Tourism. Once the application is received, the City of Fredericksburg will review and score each project based on a weighted scale, which addresses the areas of interest described above. Each project will then be given a recommended incentive package, which will include the amount and duration of the incentive. City Council has final approval authority for each agreement. Annual performance reports are required from each company receiving an incentive agreement.
For Technology Zone businesses, the incentives are as follows for terms of up to five-years:
Please refer to the specific provisions in the respective ordinances.
For more information about the City Incentive Program: CITY INCENTIVE APPLICATION
The City of Fredericksburg established Technology Zones in order to target specific business for specific areas. Economic incentives are available in order to attract development, and create a more business friendly environment.
Applicants are encouraged to contact the Department of Economic Development and Tourism prior to submitting the application by calling 540.372.1216 or writing to the Director of Economic Development and Tourism, Bill Freehling.
© City Of Fredericksburg, VA
706 Caroline Street, Fredericksburg, VA 22401
540.372.1216 | 800.260.3646