FLORENCE — The county could soon add another economic development project to its portfolio after it approved an incentives agreement for an industrial park off Interstate 95.
Florence County Council passed an agreement with the Marlboro Development Team at its April 18 meeting that gives the real estate development group incentives to bring a new company to the area.
That company could bring $12 million in investment and eight to 12 jobs, according to information from the county.
“Any investment of that size is welcome. Obviously it’s smaller than some of the other ones, but it's a good investment," Florence County Administrator Kevin Yokim said.
The Marlboro Development Team owns Pee Dee Commerce City West, an industrial park across from Buc-ee's near I-95, and it's in talks with an undisclosed company to lease the site, according to Gregg Robinson, CEO of the Florence County Economic Development Partnership.
The Marlboro Development Team is planning improvements to the property in advance of the lease signing, Robinson said. The project had previously been referred to as Project Blue.
In exchange for the investment, Florence County passed a fee in lieu of taxes agreement.
According to Robinson, the county will provide a property tax assessment rate of 6 percent for the next 20 years. The property already qualifies for a 6 percent rate, so the agreement just locks it in, he said.
Marlboro Development Team is a subsidiary of the Marlboro Electric Cooperative. The group predominantly owns properties in South Carolina, including Florence, Dillon, Greenville and Pageland, among others. It’s currently advertising six properties in the Florence area.
This would be the latest economic development project in Florence County.
In August, officials announced Crown Cork and Seal USA Inc., a metal can manufacturer, would invest $20 million in the county, creating 29 jobs.
Most notably, officials helped attract the electric vehicle battery manufacturer AESC, which promises to invest $3.2 billion and bring 2,700 jobs to the area.
