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Council advances incentive package for manufacturer that pledged $45 million expansion
Summary
Sumter County council gave second-reading approval to an incentive package for an existing manufacturer that pledged a $45 million investment; the package includes a reduced assessment ratio and special-source-revenue credits, with a public hearing scheduled before third reading.
Sumter County Council gave second-reading approval to an incentive package for an existing county manufacturer that, according to staff, has pledged to invest $45,000,000 in local operations.
A county staff member told the council the incentive package would include a 6% assessment ratio for the property, to be fixed in five-year increments, and a special-source-revenue credit equal to 55% of the credit for the first five years and 25% for the following four years. The staff summary said these measures are tied to the company’s investment pledge.
Councilmembers moved and seconded the motion for second reading; the motion passed on the record with members saying “aye.” A public hearing will be held before the ordinance’s third reading, staff said.
The motion as presented did not include a named employment or job-creation guarantee on the meeting record; staff framed the incentives around the company's stated capital investment. Council did not record a numeric roll-call tally on the transcript.
