Now that the Pearl River County Board of Supervisors and the city of Picayune have approved a resolution allowing the Tax Increment Financing plan to move forward, it’s time to look at how this move will help Pearl River County grow.
In the days leading up to that decision many may have had a negative view of the plan.
While it’s true that taxes will be used to help retire the bond, those taxes will only be in the form of increased taxes collected as a result of the increased property value associated with the development, and the increase in sales tax within the realm of the development, in this case grocery sales.
What this will do is not only lead to the construction of a new grocery store, but the developer has plans for an adjacent commercial and residential district.
The move shows our local leaders have kept their promise that economic development is top on their list of priorities.
As a result of this new development new jobs will be created. That new grocery store will then prompt other businesses to build in the adjacent lots, creating even more jobs, and bringing in more people who will in turn reinvest in our growing community.
Those people will need homes, and as such will add to the ad valorem taxes collected, growing the general fund for our county and city governments, who will in turn have to hire more county and city employees to keep up with the needs of our infrastructure and services.
Change is many times viewed as a negative aspect of life. But without change, there is no growth.
It’s reassuring that our local leaders have a forward outlook on our growth, our need to move towards the future and ensure the financial stability of this area.