Three Companies To Relocate In City, Receive Incentives


By Lindley Estes, The Free Lance–Star

The Fredericksburg City Council approved three performance agreements Tuesday night for technology firms planning expansions in the city.

The council approved five-year performance agreements for each of the three companies that will allow them to receive a full waiver on their business license taxes for the first three years and a 50 percent waiver for the next two. The agreements do not include any upfront money from the city.

QRC Technologies, IST Research and ILM Corporation were granted Technology Zone incentives as a result of all three firms’ plans for investments totaling about $9 million. Combined, the three companies will occupy about 43,000 square feet of space in the city.


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