Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Consultant outlines state vs. local incentives, urges cost-benefit guidelines
Summary
Mark Farris reviewed how South Carolina and local incentives differ — jobs tax credits, jobs development credits, abatements, multi-county industrial park fee-in-lieu agreements — and urged the committee to adopt standard cost-benefit parameters for future incentive decisions.
Mark Farris, a consultant appearing before the York County Economic Development Committee on March 6, described the mechanics and trade-offs of state and local economic incentives and recommended that the county adopt consistent cost-benefit guidelines.
“[Incentives] are not strategy; they are tactics,” Farris told the committee, emphasizing that incentives should align with a broader economic development strategy rather than serve as the primary recruitment tool. He reviewed commonly used incentives including jobs tax credits, jobs development credits (JDC), abatements, fee-in-lieu of tax arrangements and multi-county industrial park (MCIP) options.
Key takeaways for committee members: - Local…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
