NEWBERRY — The Newberry County Council is working on a deal that would bring a $64 million investment and 39 new jobs to the county.
The council passed a resolution Wednesday that would create incentives and a fee in lieu of property taxes for the new development, which council did not name.
If the company makes an investment of at least $64 million and 39 new jobs, the county will give Project Optimus a 6 percent tax assessment rate and will lock in the current property value for the next 20 years. Also the company will be given a 15 percent credit against the fee in lieu of taxes for the first five years.
County Administrator Wayne Adams said the company will still be paying $1.2 million in fees for the first five years.
With the passage of the resolution, county council will still have to approve three readings of an ordinance to finalize the deal.
Adams said he could not give any details about the new development or the name of the company as negotiations were continuing.
He said the project will be announced by the company at a later date.
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