Canadian Beverage Company Plans $100 Million Manufacturing Facility in Lexington County

Exciting News for Lexington County: A Canadian Beverage Company Could Be Setting Up Shop!

Hey there, Lexington County! Have you heard the latest buzz? We might soon be welcoming a new player to our local economy that could shake things up in a big way. A Canada-based beverage company, Cardiff Products Corp., is eyeing our lovely county for a massive $100 million manufacturing facility that specializes in plant-based beverages. Sounds refreshing, doesn’t it?

During a recent county council meeting on December 10, Beth Carrigg, the County Council chairwoman, couldn’t contain her excitement about this potential development. “We are very excited about the potential of this company coming to Lexington County,” she declared, and who could blame her? This investment is projected to create nearly 100 jobs, bringing a shiny new opportunity to local job seekers!

Where’s the Action Happening?

If everything goes according to plan, this state-of-the-art facility will be nestled right in the heart of West Columbia’s Saxe Gotha Industrial Park. This prime location isn’t just a pretty setting; it’s home to some heavy-hitters like Amazon, Nephron Pharmaceuticals, and Dominion Energy. So, what’s one more great company, right?

While we may be eagerly waiting for a full confirmation from Cardiff Products, we do know some interesting details about the company itself. They are headquartered in Ontario, Canada, and pride themselves on having over 40 years of experience in the food industry. Founded only in 2019, Cardiff Products puts a spotlight on shelf-stable products, and it appears they’re ready to take the plunge into the U.S. market.

What’s in it for Lexington County?

You might be wondering, “What’s the catch?” Well, to sweeten the deal for Cardiff Products, Lexington County is contemplating a fee-in-lieu-of-taxes agreement, often referred to as a FILOT. In simple terms, this agreement would lower the tax rate for the company, allowing them to pay property taxes based on an assessment ratio of 6 percent instead of the usual 10.5 percent. That’s a whopping 43% reduction! Plus, it would help safeguard Cardiff against any future tax increases.

However, there is a bit of a stipulation in this deal. If Cardiff does not invest at least $99.6 million and create 94 jobs within six months after the investment period ends, the county could cancel the agreement. In that case, they would owe the difference, paying taxes based on the full rate instead of the reduced one.

A Win for All

The money generated from property taxes, if this plan moves forward, would also benefit Calhoun County! That’s right: 99 percent of the revenue would pump back into Lexington County, with a piece of the pie going to Calhoun County as well. This agreement is all set to encourage job creation in the state, leading to an amazing $1,500 tax credit per job every year in Lexington County. The incentive grows by an additional $1,000 per job when you factor in that shared property tax revenue—further motivation for Cardiff to set up shop here.

“These are our tools to help recruit new investments, new jobs to the state, in the county,” said Garrett Dragano, Lexington County’s economic development director. “The purpose of doing this is to stay competitive with those other locations so that way we can recruit that investment in those jobs to Lexington County.”

The council voted unanimously in favor of the second reading of this agreement. They are now awaiting a third and final reading. Fingers crossed, Lexington County might soon be in for a big boost!

Stay tuned for updates, Lexington! This could be just the beginning of a smash hit for our local economy. Whether you’re a job seeker or just someone who loves to see our community thrive, this is definitely some exciting news!