By Derik Vanderford email@example.com
June 19, 2014
UNION COUNTY — Readings of two separate amendments by Union County Council are set to increase economic development in Union County.
At Tuesday’s meeting of the Union County Council, there was a second reading of an amendment to the Special Source Revenue Credit (SSRC) Agreement for “Project Southern.”
Project Southern is the code name given to a company which will invest $40 million in a new facility and create approximately 20 new jobs with benefits in Union County. The SSRC Agreement will provide benefits to Project Southern — referred to in the agreement as “the tenant” — in exchange for the company’s investment in the county.
In May, council voted unanimously to not only approve first reading of the amendment, but also an inducement resolution which states that if the company invests $40 million and creates 20 new full-time jobs with benefits by Jan. 31, 2018 then the terms of two different credits provided to the company under an agreement with the county will be extended an additional five years.
The resolution states that Project Southern is anticipated to benefit the county’s general welfare “by providing services, employment, recreation or other public benefits not otherwise provided locally.” The resolution further states that the purposes accomplished by Project Southern — economic development, keeping of jobs, and an addition to the county tax base — “are proper governmental and public purposes.” It describes the “inducement or location” of Project Southern within the county to be “of paramount importance” and that the benefits of the project will be greater than the costs involved.
County officials have declined to reveal the identity of Project Southern, at the time of the approval of the resolution and first reading of the amendment, Supervisor Tommy Sinclair said “it is part of the county’s comprehensive economic development plans to provide diverse job opportunities for the citizens of Union County.”
Council also had the first reading of an amendment to the multi-county industrial park agreement to include Michelin North America, Inc.
The agreement is for the development of an industrial or business park which will exist within the boundaries of Spartanburg and Union counties.
The amendment will enlarge the boundaries of said park to include additional property presently owned and/or operated by Michelin.