Anniston city council to vote on potential tax breaks for new businesses
ANNISTON, Ala. (WBRC) - The Anniston city council will vote Tuesday night on offering about $900,000 in tax breaks to fast food restaurants if they build on vacant land.
With over 30 acres of real estate and a dozen vacant buildings, the city hopes incentives like this will motivate more businesses to choose Anniston as a destination.
“We’re looking at a Jack’s restaurant that’s projected to do $1.8 billion a year in sales volume,” says Toby Bennington Anniston’s Director of Planning & Economic Development. “Sales tax will be around $90,000 for the city.”
Under Amendment 772 of the Alabama constitution, cities can work with private entities and offer incentives. Anniston is looking to present these to more businesses but they will handle each one case by case.
“It’s fiduciary responsibility for tax dollars is to look at the number of jobs it is going to be bringing in,” says Bennington. “The projected revenue sales and the economic impact that it’s going to have on the area.”
Bennington believes the city’s convenient location to the highway and real estate developments will bring more businesses to Anniston.
“Momentum building in all sectors, whether it’s small business, medium size retail, larger retail,” says Bennington. “Industrial and larger industrial, just an economy coming back over all is really a driving force.”
The council will meet during a work session tonight to vote on offering the tax break. The session and council meeting will be streamed here https://www.facebook.com/thecityofanniston/
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