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Mount Pleasant approves Sweet Shop USA performance agreement that could pay up to $562,500 in incentives
Summary
Council approved a performance-based agreement to support Sweet Shop USA’s expansion: the company plans $250,000 capital investment and up to 75 full-time equivalent jobs; the EDC will pay $7,500 per FTE (performance-based), up to $562,500 total.
Mount Pleasant — The City Council unanimously approved a performance-based incentive agreement May 19 with Sweet Shop Candies Inc. (Sweet Shop USA) under terms presented by the Mount Pleasant Economic Development Corporation (EDC).
EDC Executive Director Carter told council Sweet Shop plans a $250,000 capital investment that could create up to 75 full-time-equivalent positions. Under the proposed agreement, the EDC would pay $7,500 per FTE created, paid in annual installments over up to three years as positions are documented. If Sweet Shop achieves the full 75 FTEs, total incentives would reach $562,500.
"This is performance based and not a lump-sum payment," Carter said, noting the EDC board approved the agreement 6–0 on May 14.
Councilmembers asked about the structure and oversight. Carter said the agreement is designed to pay as the company performs, which reduces the need to activate clawback provisions because payments occur after verified job creation. The EDC also presented a separate agreement under which the city will provide accounting, investment and payroll management services to the EDC for $15,000 annually; council approved that agreement as well.
Councilmember 16 moved to approve the performance agreement and the measure passed unanimously.
The performance agreement now proceeds to implementation steps overseen by the EDC, including documenting hires to trigger incentive payments.
