LYNCHBURG, VA—November 27, 2012
TRAX is the first recipient of the Lynchburg Technology Zone Grant program. Marjette Upshur, Director of the City of Lynchburg’s Office of Economic Development was on hand to present a Grant check to TRAX General Manager, John Kenney. Ms. Upshur stated that “TRAX exemplifies the kind of technology-driven company we want to attract, retain and help grow in Lynchburg. The City’s economic development initiatives have long acknowledged the importance of technology for growth and our future comparative advantage. It is a testament to the business environment in Lynchburg that the relationship between TRAX and the City has proven such a success. Supporting innovative, tech-based companies like TRAX enhances Lynchburg’s competitive position in the new global economy while growing new opportunities right here at home.”
Lynchburg’s Technology zone ordinance states that any qualified technology business that locates in or is already located in a technology zone shall be entitled to a five-year reimbursement of business license taxes to support growth of businesses.