From going green to spending the night in the light…see what’s new this month inside the isle.
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Isle of Wight County Virginia
In fiscal year 2012, Isle of Wight County is expected to lose approximately $5.7 million annually in tax revenue from the mill’s closure, while Franklin will lose almost $1.2 million annually it received from a revenue-based non-annexation agreement brokered with the county years ago. The state is projected to take a $20.6 million hit in tax revenue.
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Isle of Wight County is moving forward with a plan to add more than six square miles in the southern part of the county to the Franklin-Southampton zone through legislation. The part of Isle of Wight County in question encompasses 6.37 square miles that are part of a 1986 revenue-sharing agreement with Franklin. The district includes the former IP mill.
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Does your business need help, and you’re not sure who to call? The Isle of Wight County Department of Economic Development is a resource to County businesses. We specialize in business retention, which includes outreach and advocacy, expansion and relocation assistance, and business networking and education. If you need help with marketing, financing, workforce, business planning, etc., we can put you in touch with local, regional and state agencies that can address your needs.
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Just because you have a green thumb for growing plants doesn’t mean you can run a successful retail nursery business. In order to avoid the hiccups of a business start-up, you have to analyze the risks, develop a realistic business plan and proforma, set up a support team that typically includes a CPA, an attorney, a banker and an insurance advisor, maintain liquidity for the “unexpected” and remember to track your progress. Check out Lauren Harper’s (BB&T) presentation “Top 10 Ways to Avoid Start-Up Hiccups,” which was part of a recent Entrepreneur Express Workshop in Isle of Wight County.
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Have you dreamed of owning your own business, but you just don’t know how to get started? The Hampton Roads Small Business Development Center provides FREE One-on-One Counseling related to business planning and strategy. Check out Sheila Guillette-Moore’s (SBDC) presentation “How to Start and Operate a Business,” which was part of a recent Entrepreneur Express Workshop in Isle of Wight County.
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ISLE OF WIGHT—In 2009, commercial real estate tax revenue made up only 15 percent of the real estate taxes collected in Isle of Wight County.
That could soon change if the Board of Supervisors approves an economic development incentive policy.
The proposed incentives include review fee waivers, an expedited review process, connection/tap fee reinvestment, proffer flexibility, an economic development incentive grant, the establishment of a community development authority, the establishment of a tax increment financing district and other incentives the board deems appropriate.
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By Charlie Passut | Tidewater News
Published Friday, May 28, 2010
COURTLAND—Another option for high-speed Internet access will be coming to Southampton and Isle of Wight counties and the City of Franklin within the next year-and-a-half, thanks to funding through two grants.
“We look forward to providing this service and to being the premiere provider of broadband and voice communication in Southampton County,” Mickey Sims, general manager for the Buggs Island Telephone Cooperative, said to the Southampton County Board of Supervisors on Monday.
In April, BIT, which is based in Bracey, Va., was awarded two grants for expanding and improving existing broadband and voice communications networks.
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We were cheered by last week’s news that 25 percent of the workers displaced by the closure of International Paper Co.’s Franklin mill already have landed on their feet — even before the final wave of workers leaves the IP campus on June 30.
Randy Betz, vice president of workforce development for Paul D. Camp Community College, has been tracking the employment of mill workers since IP’s announcement last fall that the mill would close this spring. As of Friday, 275 mill employees had either started other jobs or accepted job offers.
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