YORK COUNTY, S.C. — Two companies are considering major headquarters projects in York County that could create more than 280 jobs and bring nearly $40 million in investment.
Both projects involve economic incentive agreements that would allow the companies to pay fees in place of property taxes, with reduced rates and additional discounts.
York County Council could vote Monday night to begin the approval process for the agreement, according to reports from The Herald.
Each proposal would require two additional votes and a public hearing at dates that have not yet been scheduled.
Project Pear would establish a European discount retailer’s first U.S. headquarters and distribution center at a 345,000-square-foot industrial property near Carowinds in Fort Mill.
The proposed investment totals $25.5 million. The site, near Carowinds Boulevard and Pleasant Road, previously housed Stanley Black & Decker before the company announced plans to close the operation two years ago.
The company expects to create 215 jobs within five years, including:
- 79 corporate headquarters jobs, with an average annual salary of $87,173.
- 120 distribution center jobs, with an average annual salary of $55,182.
The remaining positions were not specified in the available project details.
The property is among several sites across the Southeast being considered by the retailer.
Under the proposed agreement, York County would transfer terms of an existing fee agreement from Stanley Black & Decker and extend additional credits to the prospective company.
An existing revenue credit allows a company to receive 50% back from the fee paid in place of property taxes. That provision expires at the end of this year.
The proposed new agreement would provide a credit for five years, starting at 50% in the first year and decreasing by 10 percentage points annually.
Project Utopia involves a $17 million corporate office expansion in Clover, including a relocated and expanded North American headquarters and a new research and development facility on property the company already owns.
The project would add 56 jobs and relocate 10 existing positions. The average annual wage for the planned jobs is $145,475.
The company expects the new jobs to be in place by 2033. Of the proposed $17 million investment, $15.5 million would go toward new construction, with the remainder allocated to personal property.
Clover is competing with other potential locations. The company is also considering sites outside South Carolina, including keeping its existing headquarters in New Jersey or relocating to North Carolina’s Research Triangle region.
The proposed incentive agreement would allow the company to pay a fee based on a property tax rate below the standard 10.5% rate. County information does not specify the proposed rate, although similar incentive agreements commonly use rates of 6% or 4%.
The proposed discount would last 20 years. The company could also receive a 40% credit against its fee during the first 10 years.
York County Council is scheduled to consider whether to begin the approval process for both incentive agreements Monday night.
If the proposals advance, each would require two additional council votes and a public hearing before final approval.
The companies’ identities remain undisclosed, and both are evaluating competing locations. The proposed agreements are intended to help secure the projects for York County.
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