An $88 million economic development project known only as “Project Stagecoach” is on hold.
Kershaw County Council intended to discuss the proposed project in executive session and then take up a resolution and first reading of an ordinance by title only setting up a fee-in-lieu-of-taxes deal with the unknown company during its meeting Tuesday. Fee-in-lieu-of-taxes agreements are a common practice used to persuade companies to expand within or into the county.
However, Kershaw County Economic Director Peggy McLean alerted the C-I early in the day the company is not ready to move forward. McLean said the company is still negotiating with a customer on matters which would lead to the investment in Kershaw County.
The Chronicle-Independent will report on council’s meeting in Friday’s edition, including any further information on Project Stagecoach’s delay, if provided.
The original Project Stagecoach announcement came on the heels of Haier’s decision to invest $72 million in order to add 410 jobs to its Camden plant during the next five years. According to the Kershaw County Economic Development Office’s website, the largest single economic investment by one company in Kershaw County since 2000 involved Target’s distribution center. It’s initial opening reflected an $85 million investment; it expanded by another $75 million in 2008.