November 5, 2002 – Roanoke, Virginia – The Roanoke County Board of Supervisors recently approved the creation of a new Technology Zone for the County-owned Center for Research and Technology. The new zone provides a series of incentives for companies who locate in the CRT that are designed to attract technology-based companies to the park.
Benefits to qualified technology companies who locate in the zone include incentives that may be offered as a one-time contribution, or may be provided as a reimbursement or rebate to the company based upon the nature and scope of the development.
Companies may be eligible to receive a discount of up to 100% of the following:
The purchase price of land within the zone, the cost of water and sewer connection fees, and the cost of building permit, plan review and land disturbance fees. Further, companies may be eligible for a site preparation and/or infrastructure improvement grant and/or a one-time local job-training grant for up to $500 per employee. Businesses may also qualify for a local business, professional and occupational license tax (BPOL) exemption under the new zone incentives. The value of the incentive offerings are based upon the level of employment and investment generated by the company.
Roanoke County’s Center for Research and Technology is a publicly owned 457-acre business park strategically located in the heart of Virginia’s Technology Corridor. The Center is positioned adjacent to Interstate 81 in South Roanoke County at Exit 132 near Dixie Caverns. Further, the CRT offers direct access and is within close proximity to Virginia Tech and the Smart Road in Blacksburg (25 miles), which offers 62 Baccalaureate and 105 Masters and Doctorates fields of study, with specialties in engineering related disciplines. The CRT also incorporates protective covenants and design features that will ensure compatible development throughout the park.
Located just 15 minutes from the Roanoke Regional Airport, the park has access to a regional labor market in excess of 335,000 people within a 60-mile radius. The Center is complete with all infrastructure required by corporate and industrial users including on-site water and sewer, fiber optic and gas service.
“The Roanoke County Board of Supervisors was the first governing body to adopt a technology zone ordinance in the Roanoke region. This Technology Zone is another example of Roanoke County’s progressive efforts and commitment to attract technology jobs and investment to the valley, said Doug Chittum, Economic Development Director for Roanoke County.
The Technology Zone will serve as an added marketing tool for the Center for Research and Technology to attract small and medium sized technology based companies including research and development and value-added manufacturing operations.