The Economic Development Corp. of Jefferson County received positive news from Chairman George Makris at a Tuesday meeting, learning that collections of the tax this year are running ahead of the amounts collected during each of the previous almost six years it has been in place. With three months left before the end of the collection year, a total of $2,696,546 has been collected, more than $2,000 above the same period in 2016.
The board met at the Economic Development Alliance for Jefferson County. Also known as the tax board, the group administers the three-eighths cent sales tax approved by county voters in 2011. Board members were also briefed on a constitutional amendment approved by voters in 2016 and actions of the Arkansas General Assembly this year regarding economic development, including the creation of a “laundry list” of what projects are acceptable for the spending of tax money.
Attorney Jim Fowler of the Rose Law Firm at Little Rock said the legislation took the confusion out of certain types of projects but using tax money for retail establishments is still prohibited. Board members also discussed security fencing around the site of the proposed natural gas-to-liquid fuel facility near the National Center for Toxicological Research in Jefferson and a new security gate to meet Homeland Security requirements.
During their last meeting in December, the board was given an estimate of $100,000 for the fencing which included the removal of trees and stumps. On Tuesday, Caleb McMahon, director of economic development for the alliance said the new gate will push that estimate up to about $105,000, and the tax board approved the request.
When the plan was first announced, the tax board approved an incentive package of $3.925 million and spent almost $3 million to buy more than $1,000 acres of land which is being leased to Energy Security Partners (ESP), the company that is planning to build the facility. Since then, the board has purchased additional properties near the site that will also be leased to ESP and arranged to have trailers and other structures hauled off. Construction of ESP is still years away, as project stakeholders are continuing to raise money for the multi-billion project.