Michelin eyes investment in South Carolina

ERJ staff report (TB)

Anderson, South Carolina -  Michelin North America Inc. is evaluating the possibility of a sizable investment in Anderson County, S.C., which is pitching an investment incentive package known as “Project Cougar.”

Greenville, South Carolina-based Michelin declined to comment on its plans, saying: “Incentives such as those being considered by Anderson County pave the way for the potential of future investments down the road. While Michelin routinely considers a variety of business opportunities, we have nothing to announce at this time.”

The company's potential interest in the package came to light Feb. 6 in a public notice in the Anderson Independent Mail newspaper about an Anderson County planning meeting to be held Feb. 21.

The notice references the county's offer to Michelin for tax relief “in connection with investment in certain manufacturing and related facilities at one or more locations in the County.”

Michelin has a considerable presence already in Anderson County, where the company employs about 700 and operates partially finished rubber processing plants in Sandy Springs and Starr, South Carolina.

Project Cougar is a proposed investment package that the county council has been putting together for a few months. According to descriptions of the program, it would provide tax relief and other incentives for creating at least 125 jobs and investing a minimum of $150 million. The incentives scale up with greater investment and more jobs.

From Tire Business (A Crain publication)