Economic development gets a boost

Published 12:00 am Friday, September 28, 2007

Officials looking out for the economic well-being of the city and county took an important step that could provide for significant growth in the future.

Franklin-Southampton Economic Development Inc. will submit an application that would put the area in the running for one of four state-authorized enterprise zones.

That action came after elected officials from Franklin and Southampton governments, in separate votes, wisely authorized the FSEDI to do so.

If the state approves the joint application, new and existing businesses located within the special zones within both the city and the county would be eligible for state and local tax relief, regulatory flexibility, infrastructure development and even employment grants.

It’s an intriguing and progressive idea that is designed to bring more industry to the area and keeps the businesses we have.

It is a prudent look ahead, one we support, and one we hope the state will approve.