Berkeley County Council passed the first reading of a 30-year, fee-in-lieu-of-taxes agreement for a $100 million expansion. Council members said the upgrade will allow Nucor Corp. to produce larger pieces of steel.
Published Aug. 29, 2012
The package, a 30-year, fee-in-lieu-of-taxes agreement, passed unanimously. The fee is tagged to 6% of the investment.
During the meeting, staff briefed council members on the project, which is a $100 million expansion. The upgrade will allow Nucor to produce larger pieces of steel, and the project won’t be a big-job producer.
The incentives package will receive two more votes before becoming effective.