
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: THURSDAY, May 27, 1993                   TAG: 9305270189
SECTION: CURRENT                    PAGE: NRV2   EDITION: NEW RIVER VALLEY 
SOURCE: MICHAEL STOWE STAFF WRITER
DATELINE: BLACKSBURG                                LENGTH: Short

THOSE GETTING COMPUTER GRANTS ALSO GET TAX CUT

Town Council on Tuesday unanimously passed an ordinance to reduce the tax rate for companies that receive federal grants for computer software and other technology research.

The ordinance, which was suggested by the General Assembly, reduces the tax rate from 23 cents on each $100 of grant money to 3 cents per $100.

The reason for the tax break is to encourage growth in research and development.

A report from town Finance Director Mary Kemp found 13 businesses in Blacksburg that would be affected by the tax change.

Based on receipts from 1992, Kemp said, the town stands to lose $4,585 in tax revenues.

by CNB