From the Anderson Herald-Bulletin:
The Anderson City Council Thursday approved a $14 million tax abatement that could lead to the expansion of Nestle USA’s production facility here.
But a decision by the company on whether it will invest $166 million here, or in another American city may not come for another month, said Nestlé USA spokeswoman Rachel Koelzer.
The final choice will be made by executives at Nestlé’s world headquarters in Switzerland.
Despite that uncertainty, the City Council voted quickly and enthusiastically for the abatement, which would be in effect for six years.
...
Between 2006 and 2008, Nestlé built a $359 million plant in Anderson — Nestlé’s largest single capital investment in its history. In all, the company has invested $582 million here, Interim Economic Development Director Greg Winkler has said.
The plant currently employs 663, up from the original 300 jobs the company promised when it first located in Anderson.
As part of the negotiations between Nestlé and the city, the company has agreed to pay an abatement fee of $567,000 over the abatement period. The money would go to the Anderson Redevelopment Commission, which would use it to redevelop Edgewood Plaza, which was demolished recently.
...
The City Council also approved two 10-year tax abatements for Precision Strip Inc., which is investing $7 million to expand its facility and operations as well as hire 10 more employees.
The company takes large coils of steel and slices them down for many clients including steel mills that then sell the pieces for use in vehicles and appliances. The abatements will save the company more than $1 million.
http://heraldbulletin.com/business/x1052796754/City-Council-approves-Nestl-tax-abatement
