Newberry County Council recognized employees who recently hit career milestones with the county. Pictured, left to right, Beverly Brehmer, Janeen Toby, and Deanna Wilbanks.
Andrew Wigger | The Newberry Observer
NEWBERRY COUNTY — Newberry County Council has approved the third and final reading of a fee-in-lieu-of-tax (FILOT) agreement between the county and Sea Pro Boats (in Whitmire) during their April 21 meeting.
According to Rick Farmer, director of Newberry County Economic Development, this agreement provides an extension of the five-year investment window to a 10-year investment window and a 20% special source revenue credit on new investment to the county. He said this will be a $3.7 million investment into the county and 50 new jobs in Whitmire.
“Sea Pro initially committed to investing $3,468,000 and to create 168 new jobs in Whitmire. In 2015, the county offered the company a 20-year fee-in-lieu-of-tax agreement. What the FILOT does is reduce the assessment ratio on manufacturing property from the standard 10.5%, and lower it down to 6%, which is the same assessment ratio commercial businesses (retail, warehouses, offices) pay. The FILOT reduces the amount of county property taxes a manufacturer pays,” said Farmer. “Newberry County also went a step further to win this project in Whitmire. We offered a $500,000 grant to the company, effectively purchasing the old Renfro building for the company. But, they had to start the company, invest the money, create the jobs and retain all that for at least five years. Otherwise, we take the grant back. That was an extraordinary deal at the time, but the council believed it was important to go the extra mile to help a struggling community with few job prospects.”
Farmer said that, prior to this new FILOT, Sea Pro had invested about $4.5 million and created 200 jobs.
“So extending this investment window now opens the door for Sea Pro to invest more money in the Whitmire facility, but still get the tax breaks from the 2015 deal. In addition, Sea Pro asked for an unspecified special source revenue credit on the new investment. The SSRC can be viewed as a percentage off the top,” Farmer said.
Councilperson Todd Johnson, from Whitmire, said that Sea Pro is an incredible part of the Whitmire community.
“With a serious investment in infrastructure and people we are so pleased to be able to see this expansion and all that it will do for the people of the community and county,” he said. “It is such a blessing to see additional employment opportunities for people in the community and county, allowing people to be able to stay in the county and not leave home to work.”
Other business:
• The following county employees were recognized for their years of service: Kayla Turner, Veterans Affairs – five years; Jackie Kennedy, Assessor’s Office – five years; Christopher Monson, Assessor’s Office – 10 years; Deanna Wilbanks, Sheriff’s Office – 10 years; Janeen Toby, Clerk of Court – 15 years; Beverly Brehmer, Clerk of Court – 30 years.
• Council approved second reading, and held a public hearing, on an ordinance for the issuance and sale of general obligation bonds of Newberry County not exceeding $2,200,000 in aggregate principal amount.
• Council approved Rogers and Callcott for the storm water pollution prevention plan sampling and inspection for the Newberry County Airport.
Reach Andrew Wigger @ 803-768-3122 or on Twitter @TheNBOnews.