SPARTANBURG — More jobs and investment are expected to come to Spartanburg County.
Spartanburg County Council on July 21 moved forward two projects that combine for around $67 million investment and 97 jobs. The county pushed ahead tax breaks for both projects.
Both projects are expansions of existing automotive manufacturing facilities in the county.
ZF Foxconn Chassis Modules is set to invest $58.3 million and create 30 jobs. County council members gave second reading approval to an ordinance authorizing a fee-in-lieu-of-tax agreement, or FILOT, for the company. The ordinance requires a final third reading.
The FILOT lowers the assessment ratio of the project’s property to 6 percent for 30 years. Under the terms of the FILOT, the company is required to invest $50 million during an investment period of five years. It does not require any jobs. The company’s…
