York County (Tega Cay Sun) – A proposed economic agreement that could create hundreds of jobs in York County is set to be voted on for a second time on Monday night by York County Council. The agreement, which would provide tax benefits for a solar farm initiative, is also facing opposition from some residents.
The facility would be located off highway SC 21 between 460 and I-77.
The agreement between the county, Silfab Solar Cells, and Silfab Solar would allow the company to pay a negotiated fee instead of regular taxes for a specific duration. The fee would be calculated at a lower rate than standard corporate taxes.
The company has promised to invest $150 million in the project and create at least 800 new full-time jobs. However, some residents have expressed concerns about traffic congestion near the proposed site.
The agreement was first approved by the York County Council in March, but it is still subject to a final vote. If the council approves the agreement on Monday night, it will need a final third reading and vote at a future meeting.
The council is scheduled to hold a public hearing on the agreement on Monday evening.
Here are some additional details about the agreement:
- The agreement would provide tax benefits for a period of 10 years.
- The company would pay a fee of 3% of its gross receipts during the first five years of the agreement.
- The fee would increase to 5% of gross receipts during the final five years of the agreement.
- The company has promised to create at least 800 new full-time jobs within three years of the agreement being finalized.
- The company has also promised to invest $150 million in the project.
The opposition to the agreement:
- Some residents have expressed concerns about traffic congestion near the proposed site.
- The agreement has also been criticized by some who believe that the tax benefits are too generous.
- Many residents are concerned about the environmental impact and future schools being built next door
The next steps:
- The York County Council will hold a public hearing on the agreement on Monday evening.
- The council is scheduled to vote on the agreement for a second time on Monday night.
- If the council approves the agreement on Monday night, it will need to be voted on again at a future meeting.
The full council agenda can be viewed Here.
