View Mobile Site

INVISTA FILOT agreement moves ahead

Posted: December 6, 2011 4:34 p.m.
Updated: December 7, 2011 5:00 a.m.

During a special 8:30 a.m. meeting Monday, Kershaw County Council unanimously voted 5-0 to approve second reading of an ordinance extending a fee-in-lieu-of-taxes (FILOT) agreement between the county and INVISTA, a manufacturing plant in Lugoff. Council Chairman Gene Wise and Vice Chairman Sammie Tucker Jr. were not present for the vote. 

Kershaw County Administrator Vic Carpenter said Wise and Tucker were dealing with work-related obligations and couldn’t attend the meeting. He added that the special meeting was scheduled Monday in order to have final reading of the ordinance completed by Dec. 31. INVISTA requested the county have the agreement finalized by the end of the year.

The initial FILOT agreement, signed in 2006, stipulated a $56 million investment by the company.

If approved on third and final reading, the amended investment payment would be extended four years through Dec. 31, 2015. In addition, the overall agreement will be extended from 20 years to 30 years. The agreement will also increase the investment by $15 million for a total investment of $71 million. Third reading of the ordinance is scheduled for council’s Dec. 13 meeting.   

The FILOT deal comes two weeks after the county agreed to reimburse the company $1.9 million as part of a two-year-long tax dispute settlement. 

Interested in viewing premium content?

A subscription is required before viewing this article and other premium content.

Already a registered member and have a subscription?

If you have already purchased a subscription, please log in to view the full article.

Are you registered, but do not have a subscription?

If you are a registed user and would like to purchase a subscription, log in to view a list of available subscriptions.

Interested in becoming a registered member and purchasing a subscription?

Join our community today by registering for a FREE account. Once you have registered for a FREE account, click SUBSCRIBE NOW to purchase access to premium content.

Membership Benefits

  • Instant access to creating Blogs, Photo Albums, and Event listings.
  • Email alerts with the latest news.
  • Access to commenting on articles.

Contents of this site are © Copyright 2014 Chronicle Independent All rights reserved. Privacy policy and Terms of service

Powered by
Morris Technology
Please wait ...