Myrtle Beach ‘open for business’: City leaders pitch investors on potential developments

Updated: Apr. 5, 2019 at 5:37 PM EDT
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MYRTLE BEACH, SC (WMBF) - Nearly 100 potential investors rustled through packages of information Friday that detailed the advantages of bringing new developments to the city of Myrtle Beach.

City officials like Mayor Brenda Bethune and Myrtle Beach Area Chamber of Commerce President Karen Riordan took turns pitching the crowd, explaining how the area is accommodating to budgets of all shapes and sizes.

“Everything is positive and it is the right time to make this type of investment," Bethune said.

The city’s two opportunity zones served as the crown jewel of the forum, as they’re areas that provide an increased tax incentive for new developments. Prospective buyers were taken on a soggy bus tour of the two zones.

“We have an opportunity zone credit that developers can stack on top of each other and that is key when you’re attempting to revitalize an area," Bethune said.

Officials said the forum serves as a warning for clients that time could be running out for new investments.

“To take the full advantage of the tax incentives afforded to you in the opportunity zones, you must have that money invested by the end of the calendar year,” said Fox Simons, assistant city manager,

“I think today (Friday) was a success by the amount of people that were here,” Bethune said. “I think those people are going to go out and tell other people, the word is going to spread.”

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