Crown Cork & Seal to invest $21 million in Florence County

Over the next three years, Crown Cork & Seal USA will invest nearly $21 million in a manufacturing facility in Florence County, creating nearly 30 full-time jobs.

At its meeting Thursday, the Florence County Council approved an economic development agreement with the company, which was previously referred to as “Project Mimosa” to protect the company’s identity while the agreement was being finalized.

The County has determined that the Project and Infrastructure will enhance the economic development of the County based on representations made by the Company to the County. Accordingly, the County is entering into this Agreement to promote the economic development of the County,” the economic development agreement states.

An economic agreement between the company and the county includes expanding the park’s boundaries to include the new plant within the Florence and Williamsburg County industrial park.

In lieu of a traditional property tax, the county may charge the company an annual fee because the plant will be located within a multi-county industrial park. Due to an infrastructure credit, site property taxes will be 35% lower for 10 years.

As a condition of eligibility, the company must meet certain investment and job creation requirements to qualify for the credit. The credit can only be used to design, build or improve infrastructure and cannot exceed the amount the company spends on infrastructure.