County's economic picture brightens

AT A GLANCE

GEORGETOWN - More industries are showing interest in Georgetown County despite recent plant shutdowns and growing unemployment, County Council learned during its budget discussions Thursday.

The county's fortunes have slumped since September 2001, said Economic Development Director Al Burns.

In the past three years, the county has lost Georgetown Steel Co., Eagle Electric and Andrews Wire.

The county's unemployment rate is about 14 percent.

Forty-three people lost their jobs last month at Andrews Wire.

At least 600 people lost their jobs at Georgetown Steel in October.

Even so, Burns projected a positive outlook for Georgetown County this year.

"I feel like we're going to have a good year," Burns said.

The county is negotiating with a company to fill the Georgetown County Business Park, Burns said. The 40,000-square-foot building on U.S. 521 is ready for occupancy.

"An offer has been made [for the building], and we've countered that," Burns said.

Georgetown County Council will be asked to consider a fee in lieu of taxes agreement with an industry during its meeting Tuesday night, Burns said.

The business will invest about $5 million and will create about 70 jobs, Burns said.

Another request for a fee in lieu of taxes was approved by the council last month.

The county also has agreed to give right of first refusal on a company considering the purchase of two acres at the airport industrial park on U.S. 17 South.

Burns would not release the names of businesses considering Georgetown County.

In another move to encourage development, the council approved the idea of freezing the tax rate on property in the new industrial park to help raise revenue for the second phase of construction. Money raised through tax increment funding would be used to pay for new infrastructure.

About $1.4 million is needed to connect two roads at the industrial park, Burns said. Undeveloped property in economically depressed areas can qualify for a tax increment district, Burns said.

"We are under the impression that this property would qualify," he said.

To improve the county's capacity for economic development, County Administrator Tommy Edwards suggested forming a public-private partnership for the county. Horry County already has a similar group, Partners, that handles economic development.

The economic development group would not answer to Georgetown County Council or the county administrator.

Funding would come from the county and public sources.

"It will work here if there is enough support," Edwards said. Council members said they liked the idea of having a nonpolitical group handling economic development.

Planning for a public-private partnership will take about a year, Edwards said.