Fredericksburg City Council Grants Business License Incentive Packages to 2 Businesses

In attempt to gain the tax revenues of two potential new local businesses, Fredericksburg city council agreed to grant the enterprises business license tax waivers if they decide to open shop in their city.

AAA has plans to open an auto maintenance facility that would create 12 new local jobs. To entice the auto maintenance company to open the operation in their city, Fredericksburg city council has approved a forty percent refund in business license taxes for AAA.

To encourage the opening of a restaurant that would create 40 new local jobs, the city council approved a seven-year, $78,700 Fredericksburg business license tax waiver to the future-owners of the planned Buttermilk and Olde Lace Restaurant.

Although these incentives will cause the city to lose more than $90,000 in business license taxes, Mayor Thomas Tomzak feels it is a worthwhile investment for future tax revenue. As Patch quotes Tomzak, “"The decision of where to stay is a local decision by local management," said Tomzak. "They had a lot of options around here, less than half a mile away in high traffic areas…the main focus of these incentives is business vitality and generating tax revenues for the city."

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