CHARLOTTESVILLE, Va. (CBS19 NEWS) — The Charlottesville City Council recently reauthorized the city’s Technology Zone.
According to a release, this zone serves to broaden the city’s commercial tax base and encourage the growth of technology-related businesses.
The reauthorization means the zone will now operate through 2026.
Charlottesville was one of the first jurisdictions in Virginia to create this kind of zone, and it is the only jurisdiction that has designated the entire city as one.
The ordinance for this zone allows qualifying businesses to reduce their Business Professional and Occupational License, or BPOL, tax for a seven-year period.
The release says the Technology Zone remains an excellent way for the city to market itself as an attractive location for entrepreneurs, technology start-ups, and medium-sized businesses that have a minimal impact on the environment but generate a positive impact on the local economy.
Businesses interested in more information on this program can call the Charlottesville Office of Economic Development at (434) 970-3111 or click here.