The Town of Bluffton intends to buy about seven acres within Buckwalter Place.
The town announced in a news release Friday they had entered into a contract on the land with Buckwalter Place developer Parcel 6 LLC. The purchase will expand the town's May River Technology Park and enable the town to bring more companies to Bluffton, according to the release.
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The land purchase will be funded with utility tax credits, not taxpayer dollars, according to the release. Statewide utilities contribute to economic developments in exchange for tax credits; locally, Hargray Communications and Palmetto Electric Cooperative contributed to the funding that will buy the land.
The inaugural meeting of the Bluffton Public Development Corporation was held Wednesday. The board, established late last year, will direct economic development ventures in Bluffton. It will meet again at 5:30 p.m. Feb. 13 at Town Hall.