Aynor - Opportunity Zone 801.02
This opportunity zone includes the town of Aynor, as well as Cool Springs, a small unincorporated community in Horry County. The opportunity zone is situated in the fastest-growing county in South Carolina. The base economy was historically dependent on tobacco and other agricultural products, but has since shifted to industry. The median household income in this opportunity zone is $41,029. Aynor has a high school graduation rate of 84%. Home ownership rates within the tract (2012-2016) are 76%. The vacancy rate is 17.01% with considerable adjacent property available for development.
The tract includes US Highway 501 (18,700 AADT), which provides a 4-lane route to I-95. Highway 22 (7,600 AADT), a major artery into the Grand Strand area and part of the future I-73 corridor, is also accessible from Highway 501.
Opportunities For Business Growth
Public input mapping conducted by Horry County Planning and Zoning shows strong support for residential and commercial development in Aynor. Located approximately 35 miles from Myrtle Beach, the "Little Golden Town" of 1.9 square miles features a downtown area that is primed for retail and other commercial development. Vacant properties are present downtown and are ready for investment.
US Highway 501 Corridor
US Highway 501 within the opportunity zone represents a growing, expandable area of investment. Situated along the tourism trail to the Grand Strand, Aynor benefits from the influx of nearly 18.6 million tourists annually. Highway 501 represents one of the major corridors of travel to the area. The majority of land along Highway 501 is zoned Highway Commercial (HC) or Commercial Forest Agricultural (CFA).
Cool Springs Industrial Park
Cool Springs Industrial Park is a 95-acre park (67 acres undeveloped), with 15 pads located along SC Highway 319 in Horry County. The park was established in 2010 with the construction of a $1.6 million shell building, now occupied by PTR, in an effort to improve and diversify the local economy. The park is a joint effort between Horry County, Burroughs & Chapin, the Town of Aynor, Horry Electric Cooperative, Grand Strand Water and Sewer Authority, and the Myrtle Beach Regional Economic Development Corporation.
Cool Springs Industrial Park is ideally situated for manufacturing and distribution uses. Area transportation infrastructure includes: I-95 (37 miles), Port of Georgetown (51 miles), Port of Charleston (108 miles), and Myrtle Beach International Airport (27 miles). With easy access to SC Highway 22 (which will eventually become Interstate 73), businesses will be able to quickly reach the core of the greater Myrtle Beach region, as well as the entire Southeast.
The utility infrastructure of the park has ample capacity for industrial and warehouse applications. Zoned heavy industrial, the park is served with 8" water and 10" sewer lines, as well as electricity from Horry Electric Cooperative. Fiber optics are available through HTC for optimal connectivity.
Various incentives are available for projects locating within the Cool Springs Industrial Park, including, but not limited to:
- Property Tax Abatement
- Fee-in-Lieu of Tax (FILOT) Agreements for up to 30 years
- Build-to-suit and lease-back agreements with qualified private developers
- Workforce development training
- Corporate Income Tax credits
- Grants for infrastructure and property development costs
Although there are several businesses in discussions to open an operation within the Park, the sole current tenant of the park is PTR, a premier gun manufacturer. All available acreage is owned free and clear by a public entity; therefore, land costs are low and the property is easily transferrable. Phase II of the Cool Springs Industrial Park is adjacent to phase one and includes an additional 289.41 acres along Highway 319. An adjacent site provides the potential for an additional 200 acres for future development.