THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Friday, June 30, 1995 TAG: 9506300587
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: (Staff)
LENGTH: Short : 22 lines
Gov. George F. Allen has approved an additional enterprise zone designation for the city of Newport News. The new designation, covering 2,184 areas in the mid-city area of Newport News will confer state and local tax incentives to spur business investment and job creation in the zone area. Current law allows designated Virginia cities to apply for up to three enterprise zones each. The city of Newport News agreed to match state enterprise zone incentives with its own package of tax and financial assistance, including BPOL and utility tax rebates, city permit fee waivers and rehabilitated real estate tax exemptions. by CNB