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 â€œProject Cougar.â€
Greenville, South Carolina-based Michelin declined to comment on its plans, saying: â€œIncentives 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.â€
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 â€œin connection with investment in certain manufacturing and related facilities at one or more locations in the County.â€
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)