Major investment could bring 600 jobs to Greenville SC

Greenville County Council is set to vote Tuesday night on a tax break for a development that could bring 600 jobs to the county. 

Called “Project Hands” in disclosure of the council’s agenda, the project would invest $95 million in Greenville County, but the company that’s behind the project, exactly what it is to be and where it is to go have thus far remained unknown to the general public.

The deal is a fee-in-lieu of tax agreement, meaning the company will pay the county a fee instead of the property tax it would pay on the development — with the idea that the creation of jobs and investment in Greenville County has a comparable public benefit to that of the taxes.

Council members Chris Harrison and Willis Meadows discuss a fee-in-lieu of tax agreement at a Greenville County Council meeting on Tuesday, Oct. 19.

If approved Tuesday night, the project would need to win one more vote to earn final approval.

To establish the company’s tax break, a millage rate of 326.6 will be applied against the property’s taxable value to determine the fee the company will pay over the next 30 years, according to the terms of the deal. The agenda posted for County Council before Tuesday’s night’s meeting did not reveal the amount of land, the location or its value.

From 2021:‘Disrespect,’ ‘dysfunction’ grip Greenville County Council as Greer mayor issues warning

More FILOT news:Greenville County Council reverses course on expanded tax deal for United Community Bank

County Councilman Dan Tripp, the councilmember set to present the project and council’s finance committee chairman, did not immediately return a phone call Monday requesting more details about the project. 

Greenville County council vice chair Dan Tripp during a council meeting Tuesday, March 15, 2022.

The story will be updated. Check back for more.

Genna Contino covers Greenville County and housing for The Greenville News. Contact Genna at gcontino@gannett.com or on Twitter @GennaContino. Subscribe to The Greenville News at greenvillenews.com/subscribe.

Source link

Check Also

Boussard & Gavaudan Investment Management LLP: Form 8.3 –

FORM 8.3   PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT …

Leave a Reply

 

SUBSCRIBE TO OUR NEWSLETTER

 

Get our latest downloads and information first.
Complete the form below to subscribe to our weekly newsletter.