Owner eyes business park expansion

A real estate developer is seeking to invest up to $35 million to expand a Remount Road business park geared at attracting defense contractors to the area.

The extra space could accommodate about 600 workers and house private companies that work with the various military units on the nearby Naval Weapons Station, including the Space and Naval Warfare Systems Center Atlantic, or SPAWAR, according a document filed with Charleston County.

Remount Venture LLC of Mount Pleasant is proposing to add 182,000 square feet at a cost of $24 million to its 60-acre Remount Road Business Park in North Charleston. The larger of the two planned structures would measure 105,000 square feet.

The county said the company is negotiating with two unidentified technology businesses that are looking to occupy at least some of the new space.

The developer would invest another $11 million later to build out its remaining 15 acres.

The county Finance Committee is set to review the project at a meeting today because the deal entails tax incentives.

The developer is seeking to have its property tax millage rate fixed for 20 years. Also, the county is being asked to reimburse Remount Venture up to $3 million over 10 years to offset infrastructure costs the company incurs.

If approved, the incentives deal will require the development to meet certain investment thresholds. The project also must attract at least 600 jobs and support a total payroll of $30 million.

As part of the agreement, Remount Venture has pledged to create an incubator for high-technology businesses to help "fuel innovation among existing companies, enhance collaboration with SPAWAR and help spawn new entrepreneurial activity," according to the county's incentive proposal.

County Council will likely vote on the inducement package when it meets Tuesday. The county economic development office is recommending that the terms be approved.

About two years ago, Remount Venture developed a $25 million, 200,000-square-foot building on the site with features that appeal to defense contractors, such as offices combined with high-bay warehouse space and cutting-edge telecommunications systems.

The existing space is leased to three government contractors that employ 400 workers in support of SPAWAR's high-tech engineering center -- Scientific Research Corp., Barling Bay LLC and Stanley Inc.

David Kirby, one of the developers, referred questions Wednesday to business partner Mark Goode, who could not be reached for comment. Steve Dykes, Charleston County's economic development director, also could not be reached.

Contact John McDermott at 937-5572 or jmcdermott@postandcourier.com.