Economic Development & Innovation


Objective 1: Promote business prosperity and sustainable development

Status: On track

Initiatives:


1.1 Provide a collaborative environment by engaging partners, including the Beaufort County Economic Development Corporation (BCEDC), the Beaufort Regional Chamber of Commerce and the Greater Beaufort-Port Royal Convention & Visitors Bureau (CVB), as we work toward building a vibrant and sustainable economy. Continue to work with landowners on business recruitment and ensure the balanced administration of the Beaufort Code.


1.2 Assess the distribution of business and industry by 6-digit NAICS code.


1.3 Collaborate with the CVB, Beaufort Area Hospitality Association, University of South Carolina-Beaufort (USCB), the Downtown Beaufort Merchants Association, and all stakeholders to enhance and diversify tourism.


1.4 Increase the awareness and use of the Beaufort Pride of Place, an initiative to beautify and improve Beaufort through private donations.


1.5 Develop a local incentives package (permitting, tax abatement, private incentives from communications/utility companies) targeting startups, businesses that are expanding, and companies looking to relocate.


1.6 Leverage partnerships with USCB, the Technical College of the Low Country, and the Beaufort County School District, the military, and the Beaufort Digital Corridor to build out career pathways that will help diversify the City’s economic base. These include health care, digital commerce, and cybersecurity.


Beaufort Digital Corridor Base Camp

Measuring Progress: Objective 1

Initiative 1.1 In Progress Completed Ongoing

Number of projects started X

Number of permit applications X

Tax base vs. collections

Number of business licenses issued X

Business license revenue X


Initiative 1.2

Measure NAICS numbers in code class against target


Initiative 1.4

1 project per quarter X


Initiative 1.5

Develop local incentives package


Initiative 1.6

Leverage partnerships X


Objective 2: Increase median incomes as we recruit new businesses & industry that are a good fit for Beaufort

Status: On track

Initiatives:

2.1 Partner with the BCEDC on prospect development, land transactions, and site and building development in Beaufort Commerce Park.


2.2 Support through partnerships and financial contributions the South Coast Cyber Center as we strive to become a city/region known for cybersecurity expertise. Work with our educational partners, the military, Beaufort County, and the Beaufort Regional Chamber of Commerce to develop career pathways, research, and jobs centered around cybersecurity.


2.3 Complete the second-phase renovation of 500 Carteret Street as a “corporate landing pad” for overseas companies wishing to learn more about opportunities here.

Beaufort Commerce Park map

Measuring progress: Objective 2

Initiative 2.1 In Progress Completed Ongoing

Additional tenants or property owners at Beaufort Commerce Park X X

Initiative 2.2

Physical location for Cyber Center
Measure number of jobs created through Cyber Center

Initiative 2.3

Construction timeline and occupancy for Landing Pad

Downtown signage

Objective 3: Preserve our authenticity

Status: On track

Initiatives:

3.1 Apply the Beaufort Code to ensure a balanced land-use mix for fiscal sustainability.


3.2 Create a citywide digital inventory of businesses and commercial property and evaluate vacant or underutilized properties for development opportunities. This will include type of use, financing, incentives, and other resources.


3.3 Leverage Beaufort 2030 (community-based futurism exercise) to continue to influence the discussion about education and support the 1795 Scholarship Committee (stipend for student housing in Beaufort) and others as requested.


3.4 Coordinate signage and information to make “wayfinding” easier throughout the entire downtown area and Historic District.

Measuring progress: Objective 3

Initiative 3.1 In Progress Completed Ongoing

Comprehensive Plan approval by MPC/City Council
Changes to zoning map

Initiative 3.2

Inventory approved by MPC/City Council

Initiative 3.3

Gather primary and secondary student population numbers

Initiative 3.4

New and more useful signs