Land owner mum on possible business deal
Published 12:00 am Wednesday, July 14, 2004
VIDALIA, La. &045;&045;Natchez resident Walter Davis is working to woo one larger business to property he owns just south of Ridgecrest, parceling out any land left over to smaller businesses, jury Secretary Russell Wagoner said.
When asked whether the larger business would be manufacturing enterprise, Wagoner said Tuesday the jury doesn’t have much information on the types of businesses that would be located there.
&uot;(Davis) isn’t telling us much about that,&uot; Wagoner said, referring to himself and Concordia Parish police jurors.
Neither Davis nor Teresa Dennis, executive director of the Concordia Economic and Industrial Development District, would comment Wednesday.
The jury on Monday passed a resolution supporting Davis’ efforts to bring new businesses to the parish and noting that all necessary infrastructure is available at the site.
Wagoner did say that the parcel &045;&045; a former rice field that includes a total of 80 acres &045;&045; is located in the Central Louisiana Renewal Community.
Under that federal designation, a business located in that area, which includes much of northern Concordia Parish, would be eligible for a variety of tax credits, deductions and other financial incentives.
According to the Department of Housing and Urban Development, which administers the RC program, such incentives are tailored to each new or expanding business’ needs.
Some incentives include a $1,500 wage credit for every person hired who lives in the RC. A business may receive another $2,400 federal tax credit for every employee hired from a group with high unemployment rates or other employment challenges.
They also include a tax deduction of up to $10 million per project, or a total of $12 million for the state per year for commercial or industrial buildings developed in the RC.