County approves tax incentive package for Project Mustang

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By Stan Welch

A bare quorum of the Anderson County Council met in a special called meeting Tuesday, to give second reading approval to a tax incentive package designed to attract a metal works enterprise to locate here. Known as Project Mustang, the company is expected to create 250 jobs initially, at an average wage of $17.50 an hour.

Burriss Nelson, head of the county’s economic development office, said that the annual payroll for the company would amount to approximately $8.7 million.

The company, even with the tax incentives that are almost certain to receive final approval, will amount to $56,000 the first year. That amount will total $3.1 million over twenty years, and will reach $4.9 million over the thirty year life of the incentives.

County administrator Rusty Burns said that the state economic development arm has been very supportive. “This company, due to the nature of its products and processes, offers great potential for associated businesses locating both in the Anderson area and across the state. And those impacts would be felt quickly, not several years down the road. We are very excited about the prospects for further job creation and capital investment as a result.”

The special called meeting was held to accelerate the approval, so that third and final reading can be scheduled for the next regular Council meeting.

Council members Francis Crowder, Tom Allen, Eddie Moore, and Tommy Dunn voted unanimously to approve the incentives. A public hearing will be held at the final reading, and the identity of the company will be made public as well. Withholding that identity in matters of economic development is a common practice.