The following updates are from the city and county.
Economic Development Policy: Lee County Commissioners is currently revising their economic development policy. The new policy will set aside funds for future building projects.
County Manager John Crumpton – This policy addressed two of the primary goals of the commissioners, lowering the property tax rate and setting funds aside to reduce the dependency of the county borrow large sums of money for capital projects.
Incentive Packages: Lee County Commissioners approved unanimously 4 proposed industrial projects. These projects have the potential of bringing an estimated 1,475 jobs with over 2 billion in revenue.
Scott Hadley (commercial REALTOR® and Sanford Area Growth Alliance board member) – Lee County is in a very enviable position right now. Such opportunities do not come to counties as frequently as Lee County has landed them. Lee County has the controlling hand right now.
Incentive Packages: The City of Sanford also approved incentive packages for the above economic development proposed projects. The city will provide around $67 million in tax incentives. The incentive life span will be between 7-10 years. The projects are in the life science industry.