Development taxes have their ups (Thompson Station in Williamson County) and their downs (Cheatham County)

The Tennessean reports on Thompson Station, Tennessee voting to raise their impact assessment fees for non-residential and commercial projects from $1.00 per square foot to different rates depending on the type of use.  “For instance, a new 4,000-square-foot fast food restaurant currently would pay $4,000. Under the proposed fee it would rise to $52,280, a more than 1,200 percent increase,” stated the article, “Impact fees in Thompson Station headed higher.

Cheatham County recently reduced its adequate facilities impact fee from $1.00 per square foot to 10 cents per square foot.

About Daryl Phillips, CEcD

I am a professional economic developer. I presently work for communities and companies in developing and implementing workforce and economic development solutions as CEO of Phillips Economic Development Solutions (Phi EDS). Prior to September 2017, I was the economic development professional who served a community team of elected officials, business people, community leaders and dedicated stakeholders for economic development in Cheatham County, Tennessee (pop. 39,880) and its four towns. During my five-year tenure, I served the team as Cheatham County grew over 1,700 jobs, turned around population declines at the start of this decade into healthy population growth, increased tourism expenditures 20.3% and local tax revenue from tourism 25.4%, grew sales tax revenue 36%, focused on developing the local workforce and was recognized by SmartAsset as having the 9th highest Incoming Investment Index of all the 95 counties in Tennessee. I am a member of International Economic Development Council, Southern Economic Development Council, Tennessee Economic Development Council and International Council of Shopping Centers. I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.
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