NoVA Economic Development Roundtable: Incentives are Great, But Just the Beginning of the Story

DULLES, VA -- One of the most well-received panel discussions at CAPRE’s 2020 Digital Infrastructure Outlook in Northern VA was all about economic development. “Taxes, Incentives & Public Sector Involvement: What Developers and Investors Should Know about Working in Virginia in 2020” featured the input of a trio of specialists representing three different regions of Northern Virginia, each of which experiencing a unique level of data center development. As the panel neared a conclusion, Moderator Brian Klebash, Founder & CEO of CAPRE, asked the panel if any other verticals are starting to compete with that of data centers. Richard Cobert, Manager of Economic Development for the Stafford County Department of Economic Development & Tourism revealed that his home county is starting to see a lot of interest from the logistics industry, for things like e-commerce centers, distribution centers, fulfillment centers, etc. “It’s because we have a lot of greenfield land at a fairly low cost. So we took at a look at things and we saw that we have a merchants’ capital tax in Stafford County,” he revealed. “We passed legislation in the general assembly two years ago, where if you come in and build any of these facilities like logistics, warehouse, fulfillment, e-commerce, at over 100,000 square feet, the county board of supervisors has the right to set a specific merchants’ capital tax for you,” explained Cobert. “The county board decided the tax would be .0001%. That’s the new…