ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
In 2012 state and local governments in South Carolina provided an incentives package to Michelin for the expansion of a tire manufacturing plant in Lexington and a new tire plant in Starr. The estimated $123 million package included subsidies for projects in Lexington and Anderson Counties.
The Lexington County portion included about $45 million over 30 years in property tax abatements from the county and a state grant of $1.5 million, in addition to other unspecified subsidies which are not included in the total.
The package for the Anderson County's new plant included property tax abatements worth about $52 million over 40 years; the state offered a $7.6 million in a grant for site preparation, $6.47 million in job-tax credits, $4.86 million in "economic-impact zone" equipment credits, $4.77 million in job-development credits and $1.12 million in job-training.
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.
⚑ Please report this page in case you detect an inaccuracy in its content.