Horry County Council is about to make another mistake with regard to the MBREDC.
Council will vote Tuesday night on extending its funding contract to the Myrtle Beach Regional Economic Development Corporation for another year. This would commit the county to three more years of funding from the current two.
County council should not have agreed to a new two-year contract when considering its budget for the current fiscal year. It is making a terrible mistake extending the contract.
The excuse is a new executive director for the MBREDC, for which there is a search currently ongoing, will want a three-year contract to agree to a deal.
But, with the history of the MBREDC, not only in its current iteration, but also in all the ones that came before, county council would do better if it burned $1.1 million in the parking lot of the government center as give this agency another dime!
What it is doing here is giving away tax dollars to an agency whose only goal is to give away more tax dollars to bribe companies to relocate to Horry County.
And, it doesn’t do that well!
All we have to do is remember AvCraft, Project Blue, Ithaca Gun Company and PTR Industries to see how woeful has been the performance of MBREDC.