Greenwood Redevelopment Commission Approves New TIF District
The Greenwood Redevelopment Commission recently approved both an economic development area (EDA) and a tax increment financing (TIF) district for the area surrounding the new I-65 interchange at Worthsville Rd.
According to a city release, these measures are part of the city’s focus on increasing economic development. The commission believes the new interchange presents a major development opportunity to the city, but there are some challenges that need to be addressed. Both resolutions aim to address the opportunities and challeges.
“Attracting private investment to Greenwood depends on a number of factors, including available workforce, shovel-ready land and a readiness to respond to opportunities,” Brent Tilson, president of the Redevelopment Commission, said in the release. “However, none of these factors matters if existing infrastructure is not suitable to accommodate such investment.”
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This local update courtesy of your Greenwood Community Expert.