UNION COUNTY — The identity of ‘Project Midas’ could soon be revealed.
In a special meeting Thursday evening, Union County Council voted unanimously to approve second reading of an ordinance authorizing a fee-in-lieu of taxes agreement between the county and Project Midas. Once in effect, the agreement will enable Project Midas to pay a lower tax rate on its industrial project for the duration of the agreement.
The industrial project was announced in January when council approved an inducement resolution stating the company called Project Midas is considering the construction and installation of a landfill gas project in Union County. The resolution also stated that the company will invest at least $5 million in new equipment at and improvements to the site where the facility will be built.
When the resolution was approved, Supervisor Tommy Sinclair declined to provide any further information about the project including its location and the name of the company undertaking it.
That, however, could soon change.
During Thursday’s meeting, Sinclair told council that plans are to go public with the identity of the company in March after the third and final reading of the ordinance authorizing the fee-in-lieu of taxes agreement is approved.
“Our plan is to complete the process with an announcement made next month,” Sinclair said.
The ordinance approval process includes three readings of the ordinance and a public hearing between the second and third readings.
Charles Warner can be reached at 864-427-1234, Ext. 14.