News Summary
AllTape Adhesive Manufacturing Inc., a Delaware-based company, has announced plans to invest $70 million in Lexington County, creating over 130 jobs. This investment will establish operations in the Saxe Gotha Industrial Park, enhancing the community’s manufacturing sector. The Lexington County Council is set to vote on a tax incentive package to support this initiative. This marks the third significant investment in the area in recent months, suggesting a surge in manufacturing growth and job opportunities in the region.
Exciting News for Lexington County: A $70 Million Investment on the Way!
Lexington County is buzzing with excitement as AllTape Adhesive Manufacturing Inc., a Delaware-based company, has announced its plans to invest a whopping $70 million in the area! This investment is set to create over 130 new job opportunities for local residents, making it a real game-changer for the community.
New Operations Set to Flourish
AllTape has pinpointed an 18-acre parcel in the Saxe Gotha Industrial Park for its new operations. This industrial park is a bustling site that spans 700 acres and is conveniently located right along Interstate 26. It already hosts major employers such as Amazon, Dominion Energy, and Nephron Pharmaceuticals, which adds to the excitement of welcoming another significant player to the area.
Tax Incentives on the Horizon
Before AllTape’s plans can move forward, however, they are looking for approval from the Lexington County Council regarding a package of tax incentives. This incentives package aims to provide tax savings for at least two decades, making it a highly attractive opportunity for AllTape. The council is slated for a second vote on this initiative, and if all goes well, there will be one more vote needed to greenlight the project.
Building Momentum in Manufacturing
This development marks the third substantial planned manufacturing investment in Lexington County in just three months! Just recently, Cardiff Products, a Canadian beverage manufacturer, revealed plans to invest $99.6 million and create 94 jobs in the very same industrial park. Moreover, Michelin is also in the early stages of planning a significant $159 million investment to expand its existing facilities in the county.
The Role of Manufacturing in the Community
Manufacturing is a vital industry in Lexington County, ranking as the third largest sector, closely following retail and healthcare. Over the past decade, the civilian labor force in this growing county has increased by nearly 11%, showcasing a thriving and dynamic market ready for new job opportunities and investment.
Community Welcoming New Business
The residents of Lexington County are undoubtedly eager to see these developments come to fruition. The prospect of new jobs and economic growth is incredibly exciting for the community. As AllTape gears up to join the ranks of other industry stalwarts, it’s a great time for job seekers to explore the opportunities that will arise with this new venture.
Looking Ahead
As the council prepares for upcoming votes, all eyes will be on how this potential investment unfolds. Lexington County is poised to transform into an even more attractive destination for manufacturing, and who knows what other businesses might follow in AllTape’s footsteps. With substantial investments on the horizon and ongoing economic growth, the future looks bright for Lexington County!
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Additional Resources
- The State: $70 Million Investment in Lexington County
- Wikipedia: Lexington County, South Carolina
- The State: Economic Growth in Lexington County
- Google Search: Manufacturing in Lexington County
- The State: New Job Opportunities in Lexington
- Google Scholar: Lexington County Manufacturing
- The State: Tax Incentives for New Businesses
- Encyclopedia Britannica: Manufacturing
- The State: Economic Development in South Carolina
- Google News: Lexington County Economic Development
