Economic Development in South Carolina

[gs3]

That is great! It's awesome to see a vacant facility being revamped and used!

Skyliner posted that today at Innoventure, Kemet claims to have received money for an electric vehicle program, and is going to hire 115 in Simpsonville...? It's a GREAT day for Greenville!! It's a good day for South Carolina!

A great day for economic announcements in Greenville. The Kemet thing sounds interesting.

Funny....I thought everyone said after Amazon, no other companies would come to SC. Guess a large corp like Amy's missed the memo.

[krazeeboi]

I'm pretty sure Amy's was in the works well before the Amazon fiasco. And the whole Amazon ordeal isn't going to completely stop companies from relocating to SC and I don't think anyone said as much, but it's sure to have some negative effect. But by its very nature, we'll probably never be aware of the losses. It's not like a company is going to say, "We're looking at locating in NC, VA, GA, TN, and TX. And we were looking at SC until that whole Amazon deal went down the tubes."

[krazeeboi]

Midlands area lawmakers are trying to revive the deal by making a second push for the sales tax exemption. They sound hopeful. We'll see if it goes anywhere.

[CorgiMatt]

I think Bob Coble probably would have been mum on this. It's good to see the mayor of Columbia working for the region as a whole, regardless of one's personal opinion on the Amazon controversy. Now that the Upstate might get a piece of the pie later on, it might pass this time with Upstate lawmakers' support.

[krazeeboi]

Amazon could add three more facilities in South Carolina if lawmakers give the online retailer the sales-tax collection exemption it wants for the Lexington County distribution center, lawmakers and business leaders said Tuesday. Opening a distribution center near Cayce is “only phase one” for Amazon, said Scott Adams of Lexington, a telecommunications equipment executive leading the effort to resurrect the exemption. “The news only gets better.”

Lexington County officials have said Amazon has discussed opening a second facility next to the $40 million center being built off I-77 near 12th Street. That could be a computer hub to help the online retailer’s operations, Adams said. Supporters also suggested another distribution center could open in Spartanburg. A fourth site and possible facility has not been disclosed. No estimate on new jobs was given.

[krazeeboi]

In a stunning reversal, the state House overwhelmingly approved a five-year sales-tax exemption today for Amazon to build a distribution center in Cayce. The measure passed 97-20 three weeks after the House rejected it by a vote of 71-47.

House Republican leader Kenny Bingham, R-Lexington, said on the House floor that Amazon would invest at least $125 million and create 2,000 jobs in South Carolina. The Senate must approve the incentive. Gov. Nikki Haley of Lexington said today she has not changed her opinion on the exemption, which she opposes but declines to veto if it comes to her desk.

[gman430]

Governor Nikki Haley will join Hughes Development Corporation, TIC Properties, Greenville New Markets Opportunity LLC, 4240 Architecture, Civitas Inc, and the City of Greenville to announce a major economic development for downtown Greenville this coming Wednesday: http://m.greenvilleo...05230058&f=1157 Word on the street is that all financing and tenant negotiations are complete for this project.

Edited May 24, 2011 by citylife

[krazeeboi]

As we've found out, the downtown Greenville economic development is part of a planned downtown mixed-use project which will house the headquarters of CertusBank, a subsidiary of Charlotte-based Blue Ridge Holdings, Inc. CertusBank has over $1.8 billion in assets and currently operates 32 branches in SC, GA, and FL. 350 jobs are expected to be created.

Getting back to the Amazon deal, the state Senate agreed shortly after midnight Friday to give the company the sales tax exemption, ending a two-day talkathon that opponents launched to stall the measure. The agreement moves the proposal to the verge of final legislative approval. The plan approved in the Senate will need to go back to the House, which approved the deal last week. But House leaders promise to accept changes that Amazon allies have made in the measure.

Green-energy company Altgen Corp. took its $30 million investment to Tennessee after the S.C. House initially rejected the sales-tax exemption for Amazon but now is planning three multimillion-dollar plants in SC, including a 400-worker facility in Lexington County, a senior company official said Friday. Atlgen is opening talks with Lexington County officials for a $10 million to $30 million facility that would convert waste into biofuels, chief operating officer Chip Harriford said. The company decided to proceed, he said, because the Senate early Friday morning endorsed a five-year exemption for Amazon that the House shot down April 27 but overturned three weeks later. Harriford said he hopes to at least break ground for the Lexington plant by the last quarter of this year, if not be operating by then. The company also is considering facilities in Jasper County and the I-85 corridor in Spartanburg County, Harriford said. A fourth location, near the Pinewood hazardous waste landfill in Sumter County, would be more dependent on state incentives, he said.

[krazeeboi]

Looks like Amazon is finally a done deal for SC. The second House approval was required to accept minor changes made by the Senate last week. The measure now heads to Gov. Nikki Haley, though “nothing has changed” in her plan to let the measure take effect without her approval, spokesman Rob Godfrey said.

[Spartan]

2,000 jobs at Amazon is a lot, but how much economic impact is there for a distribution center? My hunch is that it's relatively little. I don't see the point in the State bending over backwards for low-skill jobs. Its frustrating to see so many of these kinds of jobs opening up while living in NC, because the job openings in the major cities here are more frequently knowledge-based. Obviously there are different dynamics when major metro areas are involved, but the comparison is inevitable for me.

That is not to say they shouldn't try to work with the Amazons, etc. or provide incentives, just that it doesn't need to be so extensive. Amazon would have probably located there anyway.

[krazeeboi]

This whole tax exemption issue for online retailers like Amazon is one that will eventually have to be decided by the feds. The only reason why it became such a huge issue in this case is due to Amazon having been courted by one administration but actually building under another and the disagreement between the two concerning the exemption. In this case, I think it was important that the state keep its word, and seeing the potential economic fallout from that was what caused the dramatic turnaround. The good thing is that this entire fiasco actually resulted in more jobs than was initially planned. As far as further economic impact, the most direct would be a pretty significant uptick in activity at the UPS hub. That doesn't exactly equal the spinoff that large manufacturing outfits have, but it's something.

[CorgiMatt]

2,000 jobs at Amazon is a lot, but how much economic impact is there for a distribution center? My hunch is that it's relatively little. I don't see the point in the State bending over backwards for low-skill jobs. Its frustrating to see so many of these kinds of jobs opening up while living in NC, because the job openings in the major cities here are more frequently knowledge-based. Obviously there are different dynamics when major metro areas are involved, but the comparison is inevitable for me.

That is not to say they shouldn't try to work with the Amazons, etc. or provide incentives, just that it doesn't need to be so extensive. Amazon would have probably located there anyway.

A UPS spokeswoman on the news last night was already talking more jobs in light of not only the shipping and handling aspect, but also the two companies' IT coordination. And business leaders are saying that just the Amazon name will draw attention. We'll see. Even without another job or another dime added to the economy, 2,000 jobs will mean a lot more money being spent at area businesses.

[Spartan]

^Very tue. I'm not trying to downplay the economic impact that it will have. Providing jobs for 2000 people in Lexington/West Columbia, plus potentially more in Spartanburg, is important. My question was more directed at the state's strategy behind economic incentives for companies that will produce a relatively small economic "trickle-down" effect.

[krazeeboi]

^Very tue. I'm not trying to downplay the economic impact that it will have. Providing jobs for 2000 people in Lexington/West Columbia, plus potentially more in Spartanburg, is important. My question was more directed at the state's strategy behind economic incentives for companies that will produce a relatively small economic "trickle-down" effect.

That's nothing new and I've said as much before, even as it regards the type of companies SC usually courts (i.e., that don't require many skills) that produce more of a "trickle-down" effect because that detracts from investment in a more educated and qualified workforce.

[vicupstate]

Four BMW suppliers are planning expansions in Spartanburg County.

Spartanburg County approves incentives for BMW suppliers

[B&R]

Bridgestone will invest 135 million dollars, hire 122 people, and produce another 5,000 tires a day at their Aiken plant. over the next two years.

http://www.gsabusiness.com/news/40399-bridgestone-to-invest-135m-in-s-c?rss=0

[krazeeboi]

Discussion about coverage of SC on the Smithsonian Channel moved to the Off Topic thread.

[vicupstate]

The Greenville News is reporting that SC,NC and Louisiana are competing for a manufacturing and distribution plant for a major tire manufacturer, most likely Continental. Continental has confirmed they will build a new plant in the Southeast from the ground up.

Continental recently moved it's HQ from Mecklenburg County NC to Lancaster County SC.

1,500 jobs would be tied to this project and an announncement is expected to by the end of the year.

The article gave the impression that eastern nC would be the location if NC is picked,

Edited September 8, 2011 by vicupstate

[krazeeboi]

Interesting development. I wonder if the company is wanting proximity to I-95 since it seems that it would favor an eastern NC location in that state, in which case it could be the Pee Dee that would be the favored region in SC.

In other news, Innovative Composites International Inc., a manufacturer of advanced materials, announced Tuesday that the company will establish its new production facility in Orangeburg County. The $9.3 million investment is expected to generate 300 new jobs over the next five years. The company will produce composite housing at the facility and expects to begin operations in the first quarter of next year.

[vicupstate]

http://www.postandcourier.com/news/2011/sep/14/boeing-supplier-expected-build-plant-north-charles/

350 Aerospace jobs for North Charleston, including some high level professional positions.

[GvilleSC]

http://www.postandco...-north-charles/

350 Aerospace jobs for North Charleston, including some high level professional positions.

Great to see!

[gman430]

Otis Elevator Company is expected to announce a new manufacturing plant for Florence tomorrow that will create 360 new jobs with average hourly wages of $25. It will be a $40 million investment.

Edited September 16, 2011 by citylife

[GvilleSC]

Otis Elevator Company is expected to announce a new manufacturing plant for Florence tomorrow that will create 360 new jobs with average hourly wages of $25. It will be a $40 million investment.

Sounds pretty impressive!

[vicupstate]

The Greenville News is reporting that SC,NC and Louisiana are competing for a manufacturing and distribution plant for a major tire manufacturer, most likely Continental. Continental has confirmed they will build a new plant in the Southeast from the ground up. Continental recently moved it's HQ from Mecklenburg County NC to Lancaster County SC. 1,500 jobs would be tied to this project and an announncement is expected to by the end of the year. The article gave the impression that eastern nC would be the location if NC is picked,

Apparently, while Continental is looking in the SE for a plant site, this rumor was BRIDGESTONE, which will announce today that it is greatly expanding it presence in Aiken. The number of jobs and amount of money is expected to be very high.

[vicupstate]

Bridgestone will expand it's current plant and build a second one. 1.2 billion investment with 850 new jobs.