Subsidy Tracker Individual Entry

Company: 
Keer Group
Parent Company: 
Keer
Subsidy Source: 
multiple
Location: 
South Carolina
City: 
Indian Land
County: 
Lancaster
Project Description: 

textile factory

Year: 
2013
Major Industry of Parent: 
miscellaneous manufacturing
Specific Industry of Parent: 
textiles
Subsidy Value: 
$90,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
500
Capital Investment: 
$218,000,000
Source of Data: 

The value and the breakdown of the subsidy package are taken from: Rick Rothacker and Ely Portillo, "Emails show NC faced long odds vying with SC for big companies," Charlotte Observer, December 20, 2014; online at: http://www.charlotteobserver.com/2014/12/20/5397856/emails-show-nc-faced.... The job and investment data are taken from a column by Brian Carnes, Lancaster County Councilman, published in The Lancaster News on January 31, 2014 under title "Lancaster County's tax incentives prove effective" online at: http://www.thelancasternews.com/content/lancaster-county%E2%80%99s-tax-i...

Notes: 

The value of the state and local subsidy package was revealed by a Charlotte Observer article based on documents obtained by the newspaper from North Carolina Commerce Department. The $90 million subsidy figure was included in one of the Commerce communication emails. The Observer?s article lists the following South Carolina subsidies: 30-year "fee in lieu of property taxes" and $7.7 million in revenue bonds from Lancaster County; income tax exemption for 15 years from the state; a $4 million grant and unspecified amount through job development tax credits approved by South Carolina Coordinating Council for Economic Development. South Carolina never publicly disclosed the total value of the package. The company promised to create 500 jobs over eight years. Overlaps with main Subsidy Tracker data: a $4,028,000 Rural Infrastructure Fund award in 2013.

Source Notes: 
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