The Town of Waynesville might join the 60 percent of local governments in North Carolina that have adopted a formal business incentive policy.
Mayor Gavin Brown introduced the notion of a policy at last week’s town board meeting. He suggested instituting a similar policy to that of Haywood County. The county commissioners passed incentive guidelines in 2004, partly to avoid making a subjective call about when to offer an incentive.
The policy would offer varying tax incentives depending on how much a company spends on equipment or building costs and how many jobs it creates. It would act as a guideline for businesses interested in moving to the area, Brown said. The policy would not force the town to offer specific tax breaks or other incentives.
“The rules favor incentives,” Brown said. “If you don’t have incentives, you can’t get in the game.”Read the full article