Island to pursue high-tech businesses, corporate headquarters

"Relaxation and good times," Mayor Tom Peeples said. "That's all we've ever made here."

That may change if the town succeeds in its quest to attract more high-tech development and corporate headquarters to diversify the island's economy.

Peeples and town officials took up that cause at a December planning retreat at the suggestion of town Councilman John Safay. Peeples reiterated his interest during last week's State of the Town address.

The town has included the idea in its comprehensive plan for years, but its efforts haven't reaped many rewards, Peeples said. This time, he said, the town intends to pursue more seriously potential new employers.

In the past, the town has politely declined to join the Lowcountry Economic Network, the region's public-private economic development partnership. Peeples said the town will now probably become a member.

Network membership costs range from $700 at the friend level to $15,000 at the underwriter level, which comes with a seat on the board. Beaufort County, the city of Beaufort and the town of Bluffton are all underwriters, and the town of Port Royal is one level lower.

The nation's recession has helped Hilton Head officials realize the island's economy could be more stable if it relied less on the tourism, construction, real estate and service sectors, Peeples said.

"I don't know how successful we're going to be, but we've decided we need to at least take a look at it," Peeples said. "Should we not at least explore other opportunities?"

He knows the town faces some hurdles, most notably high property values and cost of living. He also wants to make sure the town protects its character and environment.

Corporate offices or small, specialized manufacturers could be a good fit, he said. Attracting that sort of business would allow more young people to return to the island after completing college.

To make all that happen, the town can aggressively market the quality of life that has long drawn people to the island, said Kim Statler, the network's executive director.

"Not only can you vacation here and live here, but you can have your business here, too," Statler said. "That is a powerful message."

Although the network has devoted some effort to marketing Hilton Head in the past, Statler said her organization will be better able to target prospective companies with the town's participation.

The town's change in stance will pay off if it can lure new businesses, which bring more tax revenue than residential development, she said.

"We are excited about the open door to that community," Statler said. "I'm not sure there has been a necessity until now."