Buena Vista Technology Zone
Frequently Asked Questions

Q.  What is a Technology Zone?
A Technology Zone is a mechanism to spur Economic Development in various businesses deemed to be technology related. 

Q.  Does the State law allow Tech Zones?
Yes.  Virginia Section 58.1-3850 gives localities the ability to create technology zones and offer various incentives.  Such incentives include:  a reduction of user and permit fees, local tax incentives, special zoning treatment, exemption from local ordinances or other incentives adopted by ordinance.

 Q.  Is this a “land-use” plan?
No.  A tech zone is a tax incentive zone.  All land-use plans and zoning requirements still apply.

Q.  Where and what type of Tech Zones will we offer?
Buena Vista will have 2 separate Tech Zones with different requirements.  The first is the Downtown (see attached map) and the second will be Industrial (all land currently zoned Industrial)

Q.  What incentives are we offering?
Qualifying businesses located within this zone will receive rebates on building & zoning permits, business personal property, machinery and tools tax, water & sewer connections, utility taxes, and business and professional taxes according to the following schedule:

• Year 1 – 50%

• Year 2 – 50%

• Year 3 – 50%

• Year 4 – 50%

• Year 5 – 50%