MYRTLE BEACH, SC (WBTW) – Myrtle Beach City leaders continue to search for tenants to fill the nearly $6 million International Technology and Aerospace Park.
The park is more commonly known as ITAP. Myrtle Beach Regional Economic Development Corporation President Josh Kay says the park was built as a joint effort between Myrtle Beach and Horry County to attract more aerospace and technology-based companies.
However, ITAP has remained empty since its groundbreaking in 2011.
“There have been some industries that have gotten close to the finish line, if you will, to sign on the dotted line,” said Kay.
Kay says the park’s location is very marketable. It’s also connected to the Myrtle Beach Regional Airport.
“It’s located close to Market Common, so it offers a campus type environment, campus feel,” Kay explained. “If we were to bring a Boeing type manufacturer to that park, they would be able to takeoff and land at the airport so that runway is a huge asset.”
Kay says they’re actively recruiting and he expects to see interest in the park grow as companies are finally recovering from the recession.
“A lot of the manufacturing and high growth companies are really just now starting to come out of their shell,” stated Kay.
Myrtle Beach’s Chief Financial Officer Michael Shleton says Horry County has asked the city to help with the recruitment process by offering incentives. According to Shelton, city council will consider lowering business license fees for aerospace and technology-based companies.
“We do have to keep in mind though that whatever we do, needs to be done with a focus on being fair to the people that are already paying business licenses,” said Shelton.
Kay says anything that lowers the cost, will help sell the property. He says ITAP has potential to be a thriving part of Myrtle Beach’s economy.
“We have a large population of under employed people in Horry County,” he said. “These are the folks in our tourism related industry that we need to be able to offer manufacturer jobs, where they can take that step up.”
Kay says they currently have three companies looking at ITAP, but its still very early. City council will discuss the incentives at their meeting on Tuesday.
