County, Fujifilm eye deal
Company would make $50M in capital investments during 10-year period
Thursday, January 09, 2014 12:10 AM
Greenwood County Council is considering an incentive agreement for Fujifilm, one that would enable the company to make $50 million in capital investments in the coming years.
As noted in a public notice from Greenwood County, published in Monday’s Index-Journal, County Council will host a public hearing at 5:30 p.m. Jan. 21 to receive comments regarding a proposed ordinance authorizing economic incentives, including a fee-in-lieu of tax agreement, between Greenwood County and Fujifilm.
Up until this point, the Fujifilm project was code named Project Rooster.
With the project, Fujifilm would make $50 million in capital investments at its Greenwood facility during a period of 10 years.
County documents indicate the proposed ordinance seeks to enter the county into a fee-in-lieu of tax agreement with Fujifilm, dropping the assessment rate from 10.5 percent to 6 percent.
When reached by phone Wednesday morning, Fujifilm general counsel Allen Creighton said, assuming County Council passes the incentive agreement, Fujifilm plans to proceed with the $50 million in capital investments in the next several years.
Creighton said the investments would include various upgrades at the plant.
“It is not one specific project or one big thing,” Creighton said. “We just have a series of upgrades and improvements to our existing operations that we will be doing over the next 10 years. We have them planned out that far. ... This is kind of a way to show our commitment to the county that we’ll plan to be here for the long run and that we are planning additional investment.”
FOR MORE OF THE STORY READ THE INDEX-JOURNAL