Lexington County Eyes Major Investment as Canadian Beverage Company Plans $100 Million Plant

Exciting Times Ahead for Lexington County as Canadian Beverage Company Shows Interest!

Lexington County is buzzing with excitement as the possibility of a new beverage manufacturing facility is on the horizon. A Canada-based company, Cardiff Products Corp., has plans to build a whopping $100 million manufacturing plant right here in our own back yard. This potential investment is projected to create nearly 100 jobs for the local community—amazing news for job seekers!

During the recent County Council meeting on December 10, Council Chairwoman, Beth Carrigg, expressed enthusiasm for the potential of this Canadian company’s arrival, stating, “We are very excited about the potential of this company coming to Lexington County.” The proposed facility would be located at the Saxe Gotha Industrial Park in West Columbia, which is already home to several major corporations, including Amazon and Nephron Pharmaceuticals.

What’s the Buzz About Cardiff Products?

Cardiff Products Corp. is a family-owned packaging business that has been in the food industry for over 40 years. Founded in 2019, this Canadian company emphasizes the importance of innovation and sustainability, especially in the realm of plant-based beverages. Although the company did not respond to inquiries for comment, its president, Stew Cardiff, shared a hopeful statement: “We look forward to becoming an integral part of Lexington County and the greater Columbia area.”

Trading Tax for Jobs

To sweeten the pot and entice Cardiff to set up shop in Lexington County, the County Council is considering a fee-in-lieu-of-taxes agreement (FILOT). This agreement would benefit Cardiff Products by allowing them to pay a reduced tax rate of 6 percent instead of the typical 10.5 percent they would face as a manufacturer, which translates to a significant 43% reduction in property taxes. In addition, they can lock in a millage rate that would protect the company from future county tax hikes.

What’s the catch? Cardiff Products must invest at least $99.6 million and create 94 jobs within six months following the investment period to retain this reduced rate. If they fail to do so, the county will be able to revoke this deal and require the company to pay the difference in taxes retroactively.

Benefits for Both Counties

If all goes according to plan and the proposals are approved, part of the revenue from Cardiff’s property taxes will also be shared with Calhoun County. According to Garrett Dragano, the economic development director for Lexington County, 99 percent of the revenue would go back to Lexington County. This agreement not only keeps the counties in sync but also significantly increases job tax credits available for Cardiff Products. Notably, the tax credit can go up to $1,500 per projected job per year in Lexington, which would increase to $2,500 with the shared property tax revenue from Calhoun County.

Next Steps for Lexington County

The County Council unanimously approved the second reading of the FILOT and tax incentives during the December 10 meeting, paving the way for a third and final reading. All eyes are on the upcoming vote, as many are hopeful that this agreement will bring about a surge of job opportunities and economic growth for Lexington County.

The excitement in the air is palpable as the community awaits the final decision. If Cardiff Products moves forward with their plans, Lexington County could very well be on its way to becoming a hub for innovative, plant-based beverage production. Keep your fingers crossed!