In furtherance of the stated purpose, Town Council finds and declares the following:
(A) A vigorous and diverse tax base is essential to sustain a meaningful quality of life as a healthy economy not only enhances the tax base, but also increases employment opportunities and housing choices within the town. With this in mind, the town works to create a sustainable local economy that encourages economic vitality, promotes fiscal integrity, and increases the local standard of living while preserving and enhancing the quality of life in Mount Pleasant.
(B) Businesses that derive a significant portion of revenues from areas outside of our region, by their nature, are of particular value to the town because such businesses typically require significant capital investment, provide a substantial number of quality, high-paying jobs, provide the opportunity for new economic development or redevelopment by increasing the customer base for existing businesses, and have minimal impacts on the environment or services of the town. Consequently, the location of such businesses in the town, and any subsequent expansion of them, should be encouraged.
(C) It is in the best interests of the town to create an Economic Development Incentives Program in furtherance of the public welfare, to enhance the vitality and diversity of the economy of the town, to assist in the implementation of the town's Economic Development Strategic Plan, and to encourage the location and/or expansion of business and industrial enterprises that bring substantial private investment, quality jobs and the potential for a spin-off effect to stimulate existing business and the development of new businesses. The town is specifically interested in businesses that are located within the Key Development Zones (Patriots Point, Wando Welch/Long Point Road, Johnnie Dodds Boulevard, and Carolina Park) and align with the Target Clusters identified in the Economic Development Strategic Plan: Information Technology & Services, Life Sciences, Architecture & Engineering, Marketing, Design & Publishing, and Financial Investments.
(Ord. 11018, passed 4-12-11; Am. Ord. 22048, passed 8-12-22)