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Council to Discuss Economic Development, Tax Incentive Programs

Face of new development - Varsity on Route 1

At tonight’s Council worksession, the City Council will discuss the latest status of economic development in the city. Typically, this includes a report on the businesses that have come to the City over the past year, the existing vacancy rates and market rate rents in various commercial areas, and recent efforts to attract quality commercial and residential development to the City.

City’s economic development coordinator Michael Stiefvater will be on hand to discuss the report with the council. This has been a tradition that the City’s Economic Development staff provides an annual report on development within the City.

The report will summarize much of the same information that is included in the quarterly economic development reports sent out by staff.

The City has also been working on a tax incentive program to attract businesses to the City. ow. The City currently has a small business sign matching grant program.
Also, the County and the State have a number of business incentive programs that our City’s economic development team help prospective businesses with. You can find more about those programs here.

At tonight’s meeting, the Council will likely receive a written report from staff that we will send around, but if you would like past copies of the quarterly economic reports, you can find them here at the City’s economic development site.

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