Big Changes Ahead for Lexington, S.C. with Michelin Expansion
Hey there, Lexington! Big news could be on the horizon for our community as a $159 million expansion is potentially coming to the Michelin tire manufacturing facility located on Two Notch Road near I-20. If all goes as planned, this could bring exciting opportunities and changes to our neck of the woods!
Negotiations Underway
On December 10, the Lexington County Council cast a solid vote, unanimously in favor of entering into negotiations with Michelin regarding this massive expansion. It seems like Michelin has some grand ideas for growth, and they’re not shy about it! Part of their interest lies in securing a “fee in lieu of tax” (FILOT) incentive. You might be wondering what that is, right?
Let’s break it down a bit: FILOT incentives allow companies to negotiate specific fees with counties instead of paying the usual county property taxes. Yes, this is big news for businesses! According to the South Carolina Department of Revenue, companies can save up to 40% on property taxes using these incentives. That certainly adds up — in 2023 alone, records show that Michelin North America shelled out more than $6 million in real estate taxes!
The Bigger Picture
But why stop there? Michelin is also looking to include this potential expansion in an existing Multi-County Industrial and Business Park Agreement in collaboration with Calhoun County. This could mean not only a bigger footprint for Michelin in Lexington but also strengthened ties with neighboring regions.
Job Creation and the Future
Now, let’s talk about jobs. While the details are still waiting to be hammered out, county documents have yet to reveal exactly how many jobs this expansion might create or when it might kick off. This leaves a bit of a mystery in the air — is Lexington poised for a job boom? Only time will tell!
For those who may not know, Michelin in Lexington doesn’t just produce standard passenger tires but also makes earthmover tires. That means big machinery and heavy-duty equipment! A quick note for tire enthusiasts: Michelin operates several facilities not only here in South Carolina but also in places like Duncan, Greenville, and Spartanburg, as well as Asheboro and Norwood in North Carolina.
Community Impact
This potential expansion could be a game changer for the local economy, providing jobs and possibly even drawing in new businesses and talent into our vibrant community. A hub like Michelin being able to expand its operations means we’re on the cutting edge of manufacturing right here at home!
What’s Next?
As we look ahead, we’re left with the anticipation of what Michelin’s plans might bring. Will there be more jobs? New opportunities for training? Better local amenities thanks to increased investment? These are questions many locals are likely asking. We’re all ears for news and developments on this exciting journey.
Stay tuned, Lexington! With Michelin in the mix, our city could be gearing up for some remarkable changes that may just drive us into a bright future!
