Kiswire is working with the county and state to secure incentives to build a new manufacturing plant in Newberry County that will produce a sizable economic development investment and create at least 50 new jobs.
While it is unsure how large the facility will be the plant could create an excess of a $70 million investment and create 180 jobs or more in the next five years.
The proposal is for the new plant to be built on C.R. Koon Highway near McKechnie Vehicle Components.
Newberry County Council gave second reading to a fee in lieu of tax agreement that would give the company a 15 percent revenue tax credit for the first five years if they invest $15 million and create 50 jobs in the next five years.
But there are chances the new plant, which makes wire for tires and other items will grow much bigger.
If the company puts in a $35 million investment and creates 90 jobs during the next fire years the tax credit will increase to 20 percent and be extended for another five years.
And if Kiswire has an investment of $70 million and creates 180 jobs, the credit would be in effect for a total of 20 years.
The ordinance has to pass one additional reading of county council before it is finalized.
Kiswire already has a plant in the Newberry County Industrial Park off Highway 219 at I-26.
In addition to the new Kiswire facility, Newberry County Economic Development Director Teresa Powers says there are several more active economic development projects considering making Newberry County their home.
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