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MegadealsSubsidy Tracker Individual Entry
Company: Envision AESC
Parent Company:
Envision AESC
Subsidy Source: multiple
Location: South Carolina
City: Florence
County: Florence
Project Description: EV battery plant
Year: 2022
Major Industry of Parent: miscellaneous energy products and systems
Specific Industry of Parent: electric vehicle batteries
Subsidy Value: $197,500,000
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy:
megadeal
Number of Jobs or Training Slots: 1,170
Capital Investment: $810,000,000
Source of Data: Chris Day, December 28, 2022, "Florence County Council signs off on Envision AESC's incentive plan," SCNow,
(click here). A press release from the South Carolina Department of Commerce: "Envision AESC to establish Florence County electric vehicle battery gigafactory," December 6, 2022:
(click here).
Notes: Envision AESC is building an EV battery plant at an industrial park in Florence County. The state has awarded the county a $135 million Closing Fund grant to complete the deal and will spend $15 million on a new training center for Envision workers. Florence county and the city of Florence have agreed to acquire $27.5 million of land for the site and spend $20 million on water, wastewater, and road infrastructure. The infrastructure improvements and training center will be partially financed by $70 million in state economic development bonds. Duke Energy, which will supply electricity to the plant, will also pay for $1 million in Special Source Revenue Credits over three years. Envision also entered a 40-year fee-in-lieu-of-taxes (FILOT) agreement with Florence County and received job development credits from the state, both of undisclosed value. Overlap with main data: none.
Source Notes: If an online information source is not working, check the Tracker
inventory page for an updated link.