Frequently Asked Questions:
1. Why should my firm support the Myrtle Beach Regional Economic Development Corp?
The MBREDC is the only organization proactively marketing the Horry County area to attract business investment, which translates directly into jobs and a healthy economy. The MBREDC relies on the support of the Board of Directors to provide the assistance to businesses interested in locating or expanding their operations to Horry County.
2. What are the benefits of membership for my firm?
Your firm's investment in MBREDC will help ensure a greater volume of business in our county. Membership demonstrates your company's commitment to progress and economic vitality. Every member is entitled to multiple high-level networking opportunities, as well as advertising in and out of our community. As an EDC member, you will receive a quarterly report announcing new business locations as well as updates on prospect flow and important marketing activities.
3. Isn't my membership in the area Chambers accomplishing the same thing?
No. The MBREDC and the various Chambers of Commerce have distinctly different strategies. The Chambers serve as the voice of the business community, striving to improve the quality of life in the community with a business advocate's role. The MBREDC is a marketing and sales organization actively promoting our city to national and international business; it works to bring new job-producing investments to all of Horry County and help grow local industries.
4. Doesn't the MBREDC already have enough funds?
In the highly competitive economic development industry, our annual budget is one of the smallest. Research shows that MBREDC spends less per capita than other economic development offices. Horry County has appropriated funding that helps support closing businesses that meet the requirements of growth and impact for our area, however we cannot market directly to, or entertain any prospects with public monies. Furthermore, we are competing with many cities that dedicate up to 1⁄2-cent sales tax for economic development purposes. The EDC uses private member funds for prospect development across the nation.
5. Will my annual investment really make a difference?
Yes. Every increase in our budget means an increase in the marketing programs we are able to conduct. The more Horry County is recognized around the world as an ideal business location, the more jobs are created for our citizens and the volume of business in our city increases.
6. Will my membership be tax deductible?
The MBREDC classifies as a 501 (c) (6) Non-Profit Organization. Investment/membership dues made to the MBREDC are not deductible as charitable contributions. The majority of our members have been able to deduct their investment as ordinary and necessary business expenses.
** This estimate is based on fiscal year 12/13 results.