Incentives Approved for Black’s Tire, National Spinning
Columbus County Commissioners approved two incentive packages this week for existing industry in the county.
Gary Lanier, economic development director for the county, sought and received approval of a $30,590 grant for Black’s Tire Service Warehouse and Distribution Operation and a $9,177 grant for National Spinning, based on an investment of roughly $300,000 and nine full-time jobs.
The Black’s Tire incentive is payable over a five-year period and based on the company making a $1 million investment here.
The grant is equal to 85 percent of the taxes paid on the new investment in the first year or $6,842 and decreases gradually to about 70 percent of the local taxes paid on the new investment by year five.
Overall it averages to about 76 percent of the taxes paid in the five-year period.
The number of fulltime jobs to be created was yet to be determined, Lanier said, but he confirmed that at least two new employees had been hired.
Commissioner James Prevatte was interested in the number of jobs to be created.
“Don’t we have a jobs requirement?” Prevatte asked.
Lanier explained that the county did not have a jobs requirement in its incentive policies.
In the past Lanier has said helping existing industry modernize and upgrade to new equipment is sometimes a positive thing. even if no new jobs are created, because it helps secure existing jobs or the future of a company.
“We don’t have a jobs requirement,” Lanier said.
The National Spinning incentive is also payable over a five-year period and ranges from 85 to 70 percent of the taxes paid on the new investment in each of the five years.
Commissioners have discussed making the county’s incentive packages more competitive with surrounding counties and other areas.
Commissioners have mentioned 20-year incentive plans offered in counties in South Carolina and more recently, tax-free zones in New York.
The board originally planned to hold a special workshop to discuss economic development and incentives but later decided to hold the discussion during the board’s annual planning retreat.
The planning retreat is planned for Thursday, April 3, from 8:30 a.m. to 12:30 p.m. at Southeastern Community College.
By Nicole Cartrette, Staff Writer, The News Reporter