Gwinnett County is on the verge of launching its largest economic initiative in the county’s history, according to Chuck Warbington, executive director of Gwinnett Village Community Improvement District. Speaking at Partnership Gwinnett’s third annual Economic Development Summit last week, Warbington said the formation of five tax allocation districts, or TADs, this fall could create 36,100 jobs and $1.6 billion in annual payroll to the county. The measure could triple the taxable value within the districts from $640 million to $1.9 billion in 15 years, he said.
TADs are specific areas marked for redevelopment that can use public money to fund improvements. Funding occurs through the issuance of bonds, which are paid off with the increased tax revenues as the property appreciates.
Warbington’s remarks were part of an overall assessment of economic strategies presented to about 150 business leaders attending the summit at Gwinnett Technical College in Lawrenceville.
Glenn Stephens, Gwinnett County Planning and Development director, detailed the county’s 2030 Unified Plan, which lists actions the county is taking to foster redevelopment.
“There is no status quo for Gwinnett County,” he said. “We can either move forward and up or down and probably out.”
Stephens underscored one element that is changing: the county’s stance toward high-density housing. Gwinnett must encourage it now, he said, in order to keep pace with the needs of its population and conserve infrastructure.
Nick Masino, vice president of economic development for the chamber and head of Partnership Gwinnett, said he and his staff follow every lead to solicit businesses to the county, adding Partnership Gwinnett is currently pursuing 30 projects.
Mac Holiday, CEO of Market Street Services, a strategy development firm based in Atlanta, said that Gwinnett is becoming a prominent regional job center with an image of providing multiple services for business.
“The strong image you’re developing nationally and regionally is going to pay off,” he said. “You’re one of our stars.”
Labels: Gwinnett, Gwinnett COunty, jobs
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Brian Vanderhoff @ 10:20 AM
