In 2009, the City Council established a citywide Technology Zone to offer economic incentives to any new or expanded business listed by the city as a targeted industry and/or advances the city’s strategic goals identified in the Economic Development Strategic Plan and the city’s Comprehensive Plan. Read the ordinance.
Qualified businesses may be offered an exemption of business, professional, and occupational license taxes and fees
Guidelines Qualified applicants may be new or existing businesses that derive 50% or more of gross receipts from research, development, and/or related services.
Applicants must commit to a performance agreement based upon a minimum investment, jobs, sales revenues, or other significant criteria. The qualified business must make a minimum investment and/or create and sustain a minimum number of full-time or equivalent jobs over a period of years outlined in the performance agreement in order to be eligible for economic incentives or regulatory flexibility.