By Amy Livingston, Business Development Officer
MOUNT PLEASANT, SC (Feb. 22, 2016) – Mount Pleasant Mayor Linda Page and Town Council reaffirmed the Town’s commitment to the growing business community through a unanimous vote to expand the Town’s Economic Development Incentive Program. Future recipients of the grant program will now be eligible for a reimbursement of their business license taxes for up to five years; an increase from two years.
“The economic vitality of our business community is central to increasing our local standard of living, while preserving and enhancing the quality of life for residents, many of whom are business owners,” said Mayor Linda Page.
The Economic Development Incentive Program, launched in 2011, was designed to encourage selective business investment to create a sustainable, diverse economy, a key component of the Town’s Economic Development Strategy. Eligible businesses include companies that can locate anywhere, are minimally dependent on the local economy, and create high-paying jobs.
Businesses are now able to apply for a reimbursement of business license taxes attributable to the location or expansion of the company for up to five years. In years one and two, the business is eligible for up to one-hundred percent reimbursement. In subsequent years three, four and five, the reimbursement declines to up to seventy-five, fifty and twenty-five percent, respectively.
“We’re committed to doing everything we can to promote high-wage job creation that allows our citizens to truly realize the work, live, play Mount Pleasant lifestyle,” said Town Council Economic Development Chair, Councilman Mark Smith.
Other incentives within the program include grants to reimburse the applicable business for: municipal impact fees, building permit fees, and plan review fees. Incentive applications are evaluated by Council based on the stated criteria and are subject to budgeted funds. More information is available on the website comeonovermp.com.
About the Town of Mount Pleasant, Office of Business Development
The mission of the Town of Mount Pleasant Office of Business Development is to advance the Town’s quality of life by fostering an economic environment that is vibrant, favorable to job creation, and promotes the general prosperity of the community.
For more information on the Town of Mount Pleasant, visit us online at www.tompsc.com, view our videos on the Media Channel, subscribe to our news with Notify Me, like us on Facebook, follow us @MtPleasantBiz and download our Apps “Experience Mount Pleasant” and “ConnectMP.”