Jackson County officials met last Friday morning to determine what kind of tax incentives to offer to potential industries looking at local sites, including two on the east side of the county.
The Industrial Development Authority went into a closed session last Friday morning to discuss “acquisition of property” related to three inquiries. “The acquisition of real estate is directly tied to offering incentives,” explained IDA chairman Scott Martin.
“The only way (for an incoming industry) to get a tax abatement is to do a bond,” he said. “The IDA takes title to their property, so it is a real estate acquisition situation.”
The IDA took no action following the closed session. That, said Martin, will take place in an open meeting if and when the prospect reaches the final phase of selecting a local site.
Of the three projects, one concerns a site in the southern part of unincorporated Jackson County, one is looking at sites in both Commerce and Jefferson and the third is looking at a site in Commerce.
“These are all manufacturers,” Martin said. “They are good jobs.”
Martin said he expects that the IDA will learn “in a week or two” whether one of the projects will keep Jackson County in the mix, while the process for the other two is likely “to drag out for some time.”