RADFORD – The City of Radford’s Economic Development Authority has awarded New River Dermatology and Professional Recovery Specialists the Economic Incentive Grant.
New River Dermatology receives $2,000 under the Professional License Category of the City of Radford’s Economic Development Authority’s Economic Incentive Grant.
The Economic Incentive Grant is available to new businesses and is a financial incentive specifically designed for small businesses or entrepreneurs opening a new business within the economic development zone. Upon the first anniversary of the date of the business license, the City of Radford Commissioner of Revenue will verify the type of business license a business has successfully held for one year. Based on the type of license and verified good standing of business owner, the commissioner will approve the incentive for payment.
A service license can receive $500, a retail license can receive $1000, a professional license can get $2000 and a restaurant/eatery can get $2500.
New River Dermatology received $2,000 under the Professional License Category and Professional Recovery Specialist received $500 under the Service License category.
“Congratulations to both of these businesses for their success in the past year and good luck to them as they continue to invest in the Radford community,” states information from the City of Radford.
This program is funded by the Economic Development Authority of the City of Radford and is dispensed at their discretion. For more information on local and state incentives, please contact (540) 731-3603.
