When CoStar decided to locate its operations and research center in Richmond, it got a good deal all around, say brokers and others close to the deal.
The city of Richmond is ponying up $4 million, including a $3.1 million tax credit for workforce development and training.
The $4 million grant from the Commonwealth’s Opportunity Fund to assist the city with the project is in exchange for CoStar’s plan to employ 730 people, take about 132,000 square feet of office space off the market and invest $8.2 million in tenant improvements and business equipment.
The grant money also includes $75,000 for a bicycle sharing station, $750,000 in public transit, and $40,000 in tax relief from the city’s Business, Professional and Occupational License Taxes, according to a Nov. 17 committee report to the Richmond City Council.
