EDC update: Commerce Park LOI for 48,000‑sq‑ft investment; Glass Works building remains largely vacant

Beaufort County Economic Development Corporation Executive Director Mr. Oul gave a quarterly update at the April 20 committee meeting, reporting active site work and multiple projects in negotiation.

He said a development group submitted a letter of intent for lot B in the Commerce Park that could total about $7.6 million and roughly 48,000 square feet. The director said the EDC is also working with a New York State company on an industrial pad and continues to market the larger Glass Works building, which he described as roughly 84,000 square feet and currently vacant.

Mr. Oul repeated earlier staff explanations about prior incentives on the Glass Works site and said the county’s taxable receipts from that property included an early period of higher payments under an agreement, but that the bulk of earlier incentives had been state‑level programs rather than county grants. He also summarized other pipeline projects — including engines for landing‑pad aeronautic companies, Project Helicopter (a separate relocation prospect) and preliminary activity around potential opportunity‑zone work — and said staff are coordinating with state commerce officials on opportunity‑zone mapping.

Committee members asked clarifying questions about vacancies, wetlands mitigation costs at the Commerce Park site and how city and purchaser commitments affect the county’s exposure; the EDC director said the purchaser was prepared to contribute a $1 million uplift tied to a separate land sale but that the city and purchaser were still finalizing control of the funds.

The EDC update was followed by committee discussion of a related funding request for the spec building that the committee ultimately did not advance. The EDC director said he would continue outreach and return with additional documentation if a funding decision were to be reconsidered.