Caroline business values on the upswing.

Date published: 10/17/2007

BY BILL FREEHLING

The value of businesses in Caroline County has increased dramatically over the past seven years, a study released this week shows.

The total value of businesses in Caroline, including land and buildings, is now about $227.5 million, according to the study. That's about 39 times what it was in 2000.

"It's really encouraging," said Gary Wilson, Caroline's economic development director.

Business land values made up about $89 million of the tally, with the remainder coming from buildings and other facilities.

The study used assessment values from the county's commissioner of revenue. It was undertaken after county supervisors asked about business investment. The study didn't include residential construction or business machinery.

Wilson expects that business values may double in a year based on announced projects that haven't been completed. He attributed the growth to affordable housing, less traffic, a well-run government and a slower pace of life.

Among the companies fueling the growth are M.C. Dean, VSE Inc., ASI and Dominion Power, according to the study. The state fair has also been important.

Commercial development in Caroline still trails that of its larger neighbors to the north and south, the study showed. Most of Caroline's business growth has been industrial.

As the population grows and the county becomes less rural, Wilson anticipates more retail investment. He said that'll further improve the county's tax base.

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Date published: 10/17/2007