Sep
15

Economy Slows Proposed Development on I-85 near Greer

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Retail complex seeks tax break

September 13, 2008

By Nan Lundeen – Greenville News

The slumping economy has slowed a proposed huge development at Greer’s exit on Interstate 85, but its developers continue to pursue their plans and are pushing the state to implement a 2007 law that gives big box retailers special incentives.

“The developer continues to pursue components of the development process while they are waiting for the key retailers to commit to their store opening dates,” Joe Philpot, a spokesman for one of the developers, Collett & Associates Inc. of Charlotte, said via e-mail.

Retailers haven’t been named for the 160-acre, $295 million mixed-use development, but legislators have said the special incentives are meant to attract a Bass Pro Shop to the Greer site. The law allows tax breaks for up to four “extraordinary retailers” statewide.

Supporters of the project have said it is expected to create 2,000 jobs.

“The development has been slowed by current market conditions,” Philpot said.

Legal counsel for developers has filed an “initial application” and a request to establish a process for implementing and verifying tax breaks with the state Department of Parks, Recreation and Tourism, said Philpot, of Greenville-based Philpot Real Estate, LLC.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.greenvilleonline.com/apps/pbcs.dll/article?AID=/20080913/NEWS01/809130307/1001/ARCHIVE

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