By Eric LaFontaine, Mount Pleasant Assistant Communications Manager
MOUNT PLEASANT, S.C. (August 10, 2022) - Town Council approved final reading, Tuesday night, to make changes to the Town Economic Development Incentive Ordinance. One of the key objectives of the recently adopted Economic Development Strategy is to update the Incentive Grant ordinance to strengthen the grant program and ensure public dollars are reaping a strong return on investment. One of those proposed changes includes incentivizing economic development projects that are in alignment with Target Clusters and located within Key Development Zones. Incentives available for businesses that qualify for the program include an expedited review process as well as reimbursements for development impact fees, building permit fees, plan review fees, and business license taxes for up to five years with a declining reimbursement rate.
To learn more about incentive grant eligibility, see the Economic Development Incentive Ordinance.