Boykins recommended for Enterprise Zone

Published 10:42 am Monday, October 25, 2010

Boykins added to Enterprise Zone


FRANKLIN—Southampton County Board of Supervisors this morning agreed to create a third area in the county where developers would receive incentives to build.

A 593-acre area in Boykins was approved for what’s known as an Enterprise Zone. The county’s other Enterprise Zones include the 558 acres around Southampton Business Park, and 2,261 acres for the Turner Tract industrial area.

The county also agreed to make it easier for companies to receive incentives if they build in any of these three areas.

“We want to lower the qualifications so smaller companies looking to locate here can apply,” Tommy Miller, business development manager for Franklin Southampton Economic Development, told Supervisors.

Should a developer buy a county-owned property listed for $10 to $15 million, that developer would get a $5,000 per acre discount. During year one, a developer could get a 50 percent discount on utility taxes, assuming he makes improvements valued at $150,000 and employs five or more people. Under the previous agreement, the minimum spent had to be $500,000.

The addition of the Boykins Zone and incentive amendments are not official until the Virginia Department of Housing and Community Development approves the application, Miller said.

The City of Franklin is also considering modifying its Enterprise Zone boundaries and incentives.

The three enterprise zones in the city cover the Pretlow Industrial Park, Downtown Franklin and the Armory Drive area. Under the proposed changes, the Pretlow zone would be expanded to 360 acres, the downtown zone to 103 acres and Armory Drive to 413 acres. The zones are currently 300, 79 and 346 acres, respectively.

Franklin City Council will have its public hearing on the matter at 7 p.m. today, Oct. 25, at city hall.