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County to take up incentives for 71 new factory jobs

Two manufacturers are considering adding a total of 71 new jobs in exchange for economic development incentives over seven years.

Elkamet, which has a plant on Spartanburg Highway in East Flat Rock, plans to invest $4.5 million in a building and $2 million in equipment for an expansion that would add 25 new jobs, the Henderson County Board of Commissioners said in a public notice released Tuesday. The company would receive $22,600 in incentives in the first year and up to $185,320 over seven years.

As part of the transaction, Henderson County may sell 10.6 acres to Elkamet at a price of $38,376, which is greater than the $31,503 per acre tax value. Under that scenario, the commissioners would use the value of the land to cover the incentive value over seven years, holding the deed to the property until the company had met its job investment and job growth commitment. Elkamet would still owe $222,000 for the land, based on a total  price of $407,000 for the acreage.
Norafin (Americas) Inc., a German company that makes nonwoven fabrics for protective clothing for the medical and construction industries and other products, is considering starting its first U.S. manufacturing operation in Henderson County. The company plans to invest up to $4.5 million in a plant and $13.6 million in equipment for an operation that would employ 46 people. Norafin would receive up to $434,272 in incentives over seven years.
To be eligible for economic development incentives, manufacturers must pay wages that are higher than the average factory wage in Henderson County.

The Board of Commissioners will hold a public hearing on the incentives at 9 a.m. Wednesday, Oct. 19, in the second floor meeting room at the Historic Courthouse.