STRATEGY 4: Attract new businesses and industry to the region.

Objective Priority Actions

A. Develop tax incentives to attract new businesses to the region.

1. Utilize tax incentives to help reduce the cost of businesses opening and expanding into the region.

B. Plan site development and infrastructure investments that will attract new businesses.

1. Hire a consultant to develop a study of infrastructure needs and costs for improvements and extensions to selected development sites. This study should also take into account capacity needs.

2. Utilize the study to make informed decisions about infrastructure costs, and proactively extend infrastructure or negotiate with developers about covering some of the costs for infrastructure and utility extension.

C. Develop a regional incentive package that provides jobs and other regional benefits for new, large businesses.

1. Create a variety of incentive packages based on the type of development a new business is bringing into the region. The package could include reduced tap fees, paying for infrastructure improvements, waiving permitting fees, approving zoning, tax abatement, tax increment financing, etc. The incentive package should be tiered and based on a series of economic benefits such as the number of jobs, wages, assessed value, and commitment to stay in the community.