Three companies will soon be investing in South Carolina, thanks to the many benefits this Right to Work state holds. These investments include companies such as Peabody Engineering & Supply, Belk, and EuWe Eugen Wexler Plastics. Altogether, these three businesses will be investing a total of $16.7 million. And, they will also be creating new jobs in Pickens County, Richland County, and Anderson County. So this is great news for the overall economy.
Read on to learn more about each investment!
As part of Belk’s original fee-in-lieu-of-tax agreement with the County, set in 2000, the company committed to investing $9.2 million and creating 125 jobs by December 2005. The company exceeded that proposal, investing more than $13 million and creating 129 jobs at the distribution facility during that time. Council voted to extend the agreement for 10 more years. With the announcement of Belk’s newest investment, Council has approved an additional fee-in-lieu-of-tax agreement that will last 20 years.
AREA DEVELOPMENT MAGAZINE
“South Carolina continues to build on its success in the manufacturing sector, and Peabody Engineering’s decision to invest in our state will provide another boost. Today’s announcement is another indication that more companies are finding that South Carolina is ‘Just right’ for business.”
AREA DEVELOPMENT MAGAZINE
“We are grateful for the significant role both the state of South Carolina and Anderson County have played in supporting our decision in 2015 and now again in 2020. With this expansion, EuWe will be able to solidify its position in the region as a premium tier 1 supplier and contribute more to the success of our customers, business partners and employees in the Upstate.”
AREA DEVELOPMENT MAGAZINE
To read the previous update on economic development in Right to Work South Carolina, click here.
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