MISSION STATEMENT

“Through a shared vision for future growth and a merger of planning, implementation and economic development, encourage selective business investment* as a key component of managed growth. Create a sustainable local economy that encourages economic vitality, promotes fiscal integrity and increases the local standard of living while preserving and enhancing the quality of life of the Town of Mount Pleasant.”

*Selective business investment: companies that can essentially locate anywhere, and are not, or are minimally dependent (less than 30% of their sales or income) on the economy of the Town of Mount Pleasant or the Charleston Region.

CRITERIA

The Town of Mount Pleasant Economic Development Incentive Grant is “project specific” and awarded on a case-by-case basis to companies meeting the following basic criteria:

1. Create and/or retain a substantial number of quality jobs
2. Provide a significant investment
3. Generate a large percentage (usually above 70%) of total revenue from outside of the Town of Mount Pleasant
4. Qualify as compatible economic development as defined in the Town of Mount Pleasant Strategic Development Plan

REQUIREMENTS

The Town of Mount Pleasant Economic Development Incentive Grant requires the following information prior to review:

• Company background and project description

• Company financials (past 1-5-years or estimated if start-up) and projections (next 10-years)

• Site/facility description:
- Preferred location(stand alone, office center, technology or R&D park, or industrial park) and/or address if known
- Site size and expansion potential;
- Size of the facility and expansion potential: total square footage; number of floors; square footage per floor; ceiling height(s); offices and open space square footage; manufacturing, production, assembly, warehousing and distribution space square footage; R&D, laboratory or clean room space square footage; and/or special facility requirements.

• Total investment and investment breakdown (site, facility and equipment)

• Employment: current; projected by year for first three (3) years; estimated for 10 years

• Average annual wage; number of positions below average/above average

• Estimated gross revenue per year for 10 years