Spartanburg growth update: $100M project with 250 jobs, company expansions and more
Spartanburg County Council has given preliminary approval for tax breaks for two existing companies planning to add more employees and expand facilities.
The projects are among the developments announced over the last several months, including an Atlanta developer building a new distribution center, Spartanburg Community College opening a new operations facility and a Chicago-based packaging company making a $60 million investment and more.
Other announcements include the official opening of two banks.
One company is planning a $100 million expansion and adding 250 new full-time jobs. On Sept. 18, the County Council approved the first of three readings to give the unnamed company, code-named Project Yukon, a reduced property tax rate of 4% for the next 40 years. The standard rate is 10.5%.
County Council also approved the first of three readings for Project Storm, a company at 2206 Moore-Duncan Highway in Moore which is planning to invest $19.67 million and add two new full-time jobs. The company is seeking a property tax rate of 6% for 30 years.
Year to date, new and existing companies have announced investments totaling $960 million with 377 new jobs, according to Councilman David Britt, chairman of the county's economic development committee.
Last year, 36 projects with $3.2 billion in investment and 1,742 jobs were announced, according to OneSpartanburg, Inc.
"The great news with these investments this year is that they are primarily coming from existing companies," Britt said. "We get very excited when a company announces they are coming to Spartanburg, but we really get fired up when they reinvest in the facility because it validates their initial decision to locate here."
Typically, the names and locations of companies seeking tax breaks remain unnamed until the third and final approval by County Council.
Here are more projects underway or recently completed in the county.
7 new projects in Spartanburg County Spartanburg economic update: 7 projects, $142M investment, 72 jobs announced, more
Rockefeller Group developing distribution center
Atlanta-based real estate developer Rockefeller Group announced on Sept. 20, it is building a 1-million-square-foot distribution center on 87.7 acres it acquired in 2022 in Spartanburg County.
The site is off U.S. Highway 221, about a mile northwest of Interstate 85 Exit 78 interchange near Peach Valley Country Club.
Development of the Class A speculative industrial building called Spartanburg 221 began earlier this year and plans to open in the fourth quarter of 2024.
Spartanburg 221 will include 40-foot ceiling heights, 56-by-53-foot column spacing, up to 530 parking spaces and up to 237 trailer stalls.
Campbell Lewis, SIOR and Marcus Cornelius of CBRE are the leasing agents. The team is also marketing Rockefeller Group’s Duncan Logistics Center, which includes three industrial warehouses totaling 827,000 square feet and is nearing completion.
Inland Port Greer breaks record for rail service
The South Carolina Ports Authority on Sept. 19 announced that Inland Port Greer achieved a record month in August, handling 16,857 rail moves. The work marked the most monthly moves in its history and a 52% increase year-over-year.
Inland Port Greer sits between the Charlotte and Atlanta markets in Upstate South Carolina. Norfolk Southern moves cargo to and from the Port of Charleston for many manufacturers, automotive companies, solar panel producers and retailers.
Belgian Hammer-IMS opens at Spark Center in Duncan
Hammer-IMS Inc. celebrated the official ribbon cutting and grand opening of its U.S. operations at Spartanburg Community College's Spark Center, on Sept. 13.
The company is a Belgian start-up founded in 2016, Its best-selling product makes use of proprietary “M-Ray” technology, which combines millimeter waves with computational algorithms to provide an alternative to radioactive measuring equipment for the measurement of material thickness and material density.
TC Transcontinental Packaging to invest $60 million
Chicago-based TC Transcontinental Packaging announced on Aug. 22 a $60 million investment in the development of a new polyethylene plastic film line with a 120,000-square-foot building expansion at its Spartanburg facility.
TC Transcontinental Packaging offers a variety of flexible plastic products, including roll stock, bags and pouches, shrink films and bags, and advanced coatings, servicing a variety of markets, including dairy, coffee, meat and poultry, pet food, agriculture, beverage, home, and personal care, industrial, consumer products and medical.
The Spartanburg plant is located at 345 Cedar Springs Ave., Cedar Springs.
Southern Bank opens Spartanburg branch
The Southern Bank held a ribbon cutting with the Spartanburg Chamber of Commerce on Aug. 24 for the opening of its Spartanburg branch.
The new 3,800-square-foot branch, which will also serve as Southern Financial Corporation’s headquarters, is located at 468 E. Main St. It includes customer parking and a single-car drive-thru.
“As a Spartanburg resident, I am proud of The Southern Bank’s ability to be a part of Spartanburg’s growth and continue our expansion into the Upstate,” stated Jamin Hujik, CEO of Southern Financial Corporation and The Southern Bank.
Along with the Spartanburg branch, The Southern Bank operates an additional branch in Greenville, with a branch under construction in Aiken.
Countybank to open second location in Greer
Countybank on Aug. 22 announced the opening of a new financial center in Greer later this year. The center will serve as Countybank’s second location in the Greer market. The existing branch on Trade Street opened in 2018.
The new office will be located at 530 W. Wade Hampton Blvd. with service offerings ranging from personal and business banking needs to insurance services.
The new location will operate as a full-service financial center. Customers will also have access to a drive-thru and 24/7 ATM.
Lease at Victor Hill Distribution Center announced
Seefried Properties, as the development partner for Clarion Partners, announced on Aug. 16 a 99,716-square-foot lease with a privately owned international freight forwarder and logistics provider.
The new tenant will lease about half of the 185,250-square-foot rentable area at 1117 Victor Hill Road in Greer. The Class A facility, completed in August 2022, includes tilt-up concrete construction, dock-high and drive-in loading, 32-foot clear height, sprinkler systems and LED lighting.
Bob Montgomery covers Spartanburg County politics and growth & development. Reach him via email at bob.montgomery@shj.com.
This article originally appeared on Herald-Journal: Spartanburg announces $100M project with 250 new jobs, bank expansions
