Leland officials continue to work on a draft of an inaugural economic development incentive program.

The main goal of the plan, in the works since 2023, is to “attract, start up and retain businesses that will provide quality local jobs,” according to an intro to the draft by Barnes Sutton, the town’s economic and community development director.

The draft identifies two geographic areas being considered for the program: the Leland Innovation Park (LIP), a 630-acre campus on U.S. 74/76, and Leland’s Gateway District, an area west of the Village Road interchange with U.S. 74/76. The Gateway district “includes much of the historic origins of Leland. This area has been referred to as the gateway to Leland and was identified as the Gateway District in 2013; thereby forming the nucleus of the community’s vision of a town center and a discernible ‘downtown,’” Sutton’s memo states.

Target industries for the innovation park, the draft states, include life sciences, information technology, medical technology and aerospace, but it also mentions the promise of other sectors.

“The Marine Biology sector will continue to find the region a good location for new and expanding business. There is a newly developing supply chain for Renewable Energy that will also be attracted to the greater Wilmington region given the logistical similarities to the before mentioned industry sectors,” the draft states. “Therefore, these six industries serve as the focus of business attraction efforts in the LIP.”

For the LIP incentives, a company would need to commit to a minimum $10 million capital investment resulting in a minimum 50% increase in tax assessment to receive up to 75% equal to the assessed incremental property tax value over a 10-year period, according to the draft. The grants would be awarded if the capital investments are made during the first three years following project completion, as agreed upon by the company and the town before a location decision, the draft states.

Job creation grant policies for the LIP, according to the draft, include that grants are considered based on the job creation commitment during the first three years and could be valued up to $1,000 per job for every new job committed over a baseline of 10. Those jobs would have to pay certain average weekly wage amounts set by the state.

For the Gateway District, the draft mentioned varying incentives for $3 million investments in infill or reuse in the district.

“The concept was originally identified as a strategy in the 2023–2027 Economic Development Strategic Plan and was further reinforced through the adoption of the Town’s 2030 Strategic Plan,” Sutton said in an email.

The town’s economic development committee considered the draft Thursday and will take it up again after a legal review for further discussion before a recommendation is made to the Leland Town Council, he said.