Small Business Lifestyle

Upstate county to vote on incentives for potential expansions [Video]
►
Categories
Small Business Lifestyle

Upstate county to vote on incentives for potential expansions [Video]

Spartanburg County Council members are set to vote on tax incentives for two potential multimillion-dollar business expansions in the Upstate. Keurig Dr. Pepper and Benteler Automotive are considering more than $200 million in investments in the county. “Both of those companies have worldwide name recognition, and in particular, most everybody knows Keurig Dr. Pepper,” County Council member David Britt said.Public documents show Keurig Dr. Pepper is considering a more than $150 million expansion to their facility that could create 84 new jobs. However, details are few. Benteler Automotive is looking to invest around $48 million into its facility.”When they pay their property taxes, that’s when they get the incentives,” Britt said. “We are not giving them money up front. We are just lowering the tax rate they are paying.”Britt said that, under South Carolina law, industry is normally taxed at 10.5%. The agreements, called fee in lieu of tax agreements or FILOT for short, lower the rate to 6%. He said they are a sign of growth. “We embrace this growth. We are trying to work with growth, and we’re doing it to try to have balanced growth,” Britt said. “It’s not just that first investment. It’s that next investment when they expand and reinvest into their company because it says they made the right decision, and they’re validating it by putting it in this facility.”According to the South Carolina Department of Revenue and Fiscal Affairs, around 180,000 additional people are expected to move into Spartanburg County by 2042. Spartanburg-based housing developer Chris Jefferson said business expansions can affect the housing market.”It increases the need for housing, and so, as you see the more people come in, you see the demand going up. You see how many permits we have pulled here,” Jefferson said. Jefferson said the best way forward is through managed growth. “Making sure that the folks that are here, the folks that are coming, especially low-to-moderate income homeowners, have an opportunity at equity,” Jefferson said.Keurig Dr. Pepper and Benteler Automotive have not replied to requests for additional information regarding their proposed expansions.

Phase 1 of the Champlain Parkway Project opens, after more than 50 years of back and forth [Video]
►
Categories
Small Business Lifestyle

Phase 1 of the Champlain Parkway Project opens, after more than 50 years of back and forth [Video]

After more than 50 years and several legal challenges, the Champlain Parkway Project is finally hitting a major milestone.The nearly 3-mile-long project will connect Burlington’s South End to Interstate 189, and on Tuesday morning, Burlington Mayor Emma Mulvaney-Stanak held a celebration to officially open a segment from the first phase of this project.A portion of the Champlain Parkway between Home Avenue and Lakeside Avenue opened following a ribbon cutting ceremony that included state and federal leaders.”We’re here to really start to celebrate a generational project of the Champlain Parkway. It’s a project that was first imagined before many of us were even born and is now a few steps closer to being completed,” said Mulvaney-Stanak.The opening marks a significant advancement in the project after decades of delays, including project design revisions.”This project was rightsized from a high-speed, four-lane divided highway to what you see today behind us, which is a two-lane, slow-speed city street with green infrastructure and a robust bike and pedestrian accommodation,” said Mulvaney-Stanak.Once construction started back up last summer, the project has been tracking months ahead of schedule, according to officials.In addition to connecting the South End of Burlington to the interstate, the project includes lanes for cyclists and pedestrians as well as new stormwater systems to prevent runoff into Lake Champlain.”Had it been built 20, 30 years ago, you would not see what you have today,” said Randy Warden, a division administrator for the Federal Highway Administration. “This is so much more appropriate for the community, for the city, for all of us that will use this roadway. So congratulations, job well done. “Neighbors and nearby businesses, like City Market, attended the ribbon cutting to say that they are grateful for improved access to the city’s south end.”City Market took a big risk moving our second location here with the promise in the background from the city that they would commit on this decade-long promise of the new corridor,” said Cheray MacFarland, the director of community and marketing for City Market. “So we’re so excited to see it finally happen. “For those who are growing tired of the construction efforts, the Department of Public Works said it hopes to begin working on the final phase of the Champlain Parkway Project as early as September, with a goal of finishing the project in 2026.