JC Commission approves first reading of ordinance to designate boundaries for a retail and tourism development district
Johnson City Commissioners have approved the first reading of an ordinance to designate boundaries of a regional retail and tourism development district in the Boones Creek area.
This is part of a bill passed earlier this year in the General Assembly which hopes to increase tourism and competitiveness in the state, and grants local governments to recruit developers to bring businesses into the proposed district, in exchange for a tax revenue incentive from the state that goes back to developers, so long as that developer is meeting certain criteria set forth in the bill.
This criteria includes the following: a potential business must draw at least one million visitors per year, require a capital investment of at least twenty million dollars which includes land, buildings, and site preparation cost, as well as annually remit at least two million in state sales and use tax.
The proposed 938 acre district in the Boones Creek area that sits along Interstate 26 appears to meet the requirements in the bill, which highlights include being no more than one-half mile from an interstate, no larger than 950 acres, and no more than 20 miles from a state border as measured in a straight line.
City Manager Pete Peterson says he’s spoke with some developers that are interested in the district. As for any ideas on what businesses developers are trying to recruit to the region, Peterson said, “I think it’s a bit premature to say we can expect this or that. One thing I can tell you with certainty is there will be a tremendous amount of excitement about the district out there and there’s going to be a tremendous amount of excitement about the results of what we’re going to be able to jointly do with the state and the developers involved with the project.”
Mayor Jenny Brock says this development district could additionally be a great recruiting tool for young people to move to or stay in the Johnson City area. “People want to move into an area that is on the move, and we think we are. I think there are going to be a lot of other things that are attractive to young people such as outdoor and recreational activities (that could be developed in the district), but the big thing is to have jobs in this area that people can make careers out of,” said Brock.
Commissioners will vote two more times on the ordinance before the ordinance goes to the state for final approval.
Courtesy of Image: Proposed Regional Retail and Tourism Development District
