HIGH POINT, N.C. (WGHP) — High point leaders want to jump-start the economy downtown by making an offer new businesses can’t refuse.
The idea is to give new businesses willing to locate in certain areas leasing grant money for up to four years.
The proposed policy was discussed at the High Point City Council’s special meeting.
Here’s how FOX8 is told the policy is a win-win situation for both the city and local businesses: The city gets the growth it needs downtown and in places like Green Drive, and local businesses will get money to grow their business over time.
A similar old policy expired in June, and the city needs to find another way to see growth.
The best way to lure businesses, get people downtown and increase the profile of High Point could be an incentive policy drawn up by a city-hired consultant group
The policy would provide generous grants to help businesses lease space and open up.
It also provides incentives for new businesses to open in certain areas of the city.
“It’s an area that is being improved upon and still in need of additional assistance for people to be there full time,” Director for High Point Economic Development Sandy Dunbeck said.
Only business and retail stores can apply.
To be eligible, the owners must create more full-time jobs, complete the High Point Economic Development Data Sheet and make improvements to their property, etc.
The effort is to create more jobs, increase the tax base and continue redevelopment in downtown and Green Drive.
City council members said there are changes to be made.
The proposed policy will be scheduled for the next council meeting on Dec. 4.