From the Anderson Herald-Bulletin:
Ohio-based Greenville Technology Inc. is expected to bring 325 jobs to the area with a new automotive parts manufacturing facility, officials announced today.
The plant, to be called GTI Anderson, is scheduled to open with 100 employees by January on the city’s southwest side.
Construction of the 150,000 square-foot facility will soon begin in the 3600 block of West 73rd Street in Anderson’s Flagship Business Park.
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Construction will begin next week in Anderson on an $8 million plant, which will be built on 25 acres at the Flagship campus. The facility is to be completed and operational by January.
GTI will invest $21.5 million in the project, including equipment, Winkler said.
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As a way to draw GTI here, the City of Anderson offered to invest $3.25 million in tax increment financing (TIF) dollars for the construction of the plant. The TIF fund is made up of property taxes collected from new commercial, industrial and manufacturing businesses within a designated district. The funds are to be spent on infrastructure improvements within the district or to benefit the district.
GTI is required to spend $3.25 million of its own money first, and only then will the TIF money be made available to the company, Winkler said.
Several city governing bodies still have to approve the use of TIF funds.
The incoming company will be paying full taxes, and won’t get any tax abatements, said Otto W. Krohn, an executive partner with financial firm O.W. Krohn and Associates, on Monday.
Krohn said he predicts that the city will collect about $4.3 million for the TIF fund during the company’s first 11 years.
http://heraldbulletin.com/bigstory/x453796739/Firm-to-bring-325-jobs-new-plant
