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Port Royal Panel Gives OK to Industrial Park Designation In Order To Lure More Businesses

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September 25, 2008

By Alexis Garrobo – Beaufort Gazette

The Port Royal Redevelopment Commission wants to blanket the town’s growing districts with a designation that the town can use to entice businesses and improve infrastructure.

Most of the land designated for commercial use on Port Royal’s main roads will be considered for designation as industrial parks, a joint effort of Beaufort and Jasper counties. The park, which is not a physical place but a designation, allows businesses in it to pay fees in lieu of taxes.

The Port Royal Redevelopment Commission unanimously approved inclusion in the multi-county industrial park.

“It’s just really a legal mechanism to convert (taxes to fees),” said Lowcountry Economic Network Executive Director Kim Statler.

The town can use those fees to improve its infrastructure to attract more business growth.

A multi-county industrial park also allows municipalities to offer businesses incentives, such as state tax credits, if a business locates in the specified area, Statler said. Businesses already in the park’s boundaries would not be affected, but there would be incentives for improvement or increasing jobs.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.beaufortgazette.com/local/story/567241.html

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