Canton Has Merged Two Economic Development Districts In One
One part of downtown Canton is now going to hold two economic development district designations. The first involves a bit of history, while the other is all high tech.
A state law passed in August lets cities create Downtown Redevelopment Districts where they can offer tax incentives for developing new or rehabbing existing properties.
To qualify, an area needs to have at least one historic building in need of renovation. Canton has more than one. And it has something much newer that is making another kind of district designation possible.
Greater Canton Chamber of Commerce Vice President Michael Gill says, "Because we do have the ability to have 100-gigabite download speeds in our downtown, right now, we can designate ourselves as an Innovation District.”
City Council approved creating the two districts at its meeting this week.