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Law
could lower cost of textile mill revitalization By Caroline Brustad Fossi The Herald (Published May 5‚ 2004) Revitalizing vacant textile mills such as the Bleachery in Rock Hill can be a costly venture. But a new state law could help lower the price tag on such projects. The bill offers local or state tax breaks to those who revitalize defunct mills. Gov. Mark Sanford is soon expected to sign the bill, which has already passed the state House and Senate. Rock Hill helped spur the legislation, said Stephen Turner, director of the Rock Hill Economic Development Corp. "This was an initiative that was born locally." The city has several textile mill projects in the works, including cleaning up the burned-out ruins of the Arcade Mill in the Hagins-Fewell neighborhood and redeveloping the textile corridor -- a wedge-shaped area between Dave Lyle Boulevard and Cherry Road that includes the Bleachery. Local leaders hope to convert the district into a mix of restaurants, shops, housing and other amenities. The redeveloped area would provide jobs, draw visitors and bring in taxes to local governments, they say. But it's hard to find developers who are willing to take on the task, and the cost, of transforming old mills into new attractions, Turner said. "There's got to be some incentive for a developer to want to do that." Turner credited local legislators, including Sen. Linda Short, D-Chester, and Sen. Wes Hayes, R-Rock Hill, for helping push the bill through. "Our whole area of the state stands to gain," Hayes said. Vacant mills are eyesores and pose fire and other public safety hazards, he said. The hope is to transform the dilapidated structures into vibrant parts of the community, while preserving the state's textile heritage. Supporters of the new law, called the South Carolina Textiles Community Revitalization Act, say it will encourage private investment in abandoned mills. Under the law, a developer who revitalizes a vacant mill could be entitled to property tax credits or personal or corporate income tax credits -- potentially saving thousands of dollars. Property tax breaks would be subject to a public hearing and would need local government approval, while income tax credits would need approval from the S.C. Department of Commerce. Statewide concern The S.C. Chamber of Commerce was a strong supporter of the revitalization act. During meetings around the state between chamber officials and chamber members, vacant textile mills were a frequent topic of concern, chamber spokeswoman Julie Horton said. "So many areas around the state have this particular problem." Since 1997, about 65 textile plants have closed in South Carolina, including Bowling Green Spinning Co. near Clover and several Springs Industries plants in York, Chester and Lancaster counties, according to chamber reports. More than 14,000 textile jobs have been lost in the state during the same period. The state chamber decided to make the issue one of its top priorities and worked with lawmakers on crafting the legislation. The law may later be expanded to include incentives for revamping vacant strip malls or "big box" stores, Horton said. Contact Caroline Brustad Fossi at 329-4082 or mailto:cbrustad@heraldonline.com | |
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