Richland County Council is considering tax incentives for a major battery recycling company that is planning to establish a plant in the Columbia area.
Council on Tuesday evening will take a final vote on providing incentives for Cirba Solutions, which would have a facility in Pineview Industrial Park off Shop Road in Lower Richland. According to documents in Council’s Tuesday meeting agenda, the project would include a $323 million investment from the company and bring in 310 new jobs. Fiberglass For Insulation
Pinewood Industrial Park already is home to some major manufacturing plants, including the China Jushi fiberglass production facility and the massive Mark Anthony Brewing facility, which makes White Claw and other alcoholic beverages.
According to its website, Cirba Solutions is a company that offers recycling services for various types of batteries, including, notably, lithium ion batteries for electric vehicles. The company has been growing, as it announced last fall it was expanding its EV battery recycling operations in Lancaster, Ohio. In February, Reuters reported that demand for lithium batteries is set to grow five-fold in the next decade, as electric vehicles gain prominence.
Richland County Council already has given two initial votes to the Cirba incentives. The deal was known under the codename Project Viper in those early votes. According to county paperwork, the term of the incentive would be for 40 years, and the company would get a property tax assessment rate of 4%. Per the state Department of Revenue, manufacturing property in South Carolina is typically assessed at rates up to 10.5%.
The county has been on a hot streak in regard to economic development. Most notably, Scout Motors, a Volkswagen affiliate, announced it would invest $2 billion to build an electric vehicle plant in Blythewood. Scout will make electric trucks and SUVs in Richland County and plans to employ 4,000 people.
Chopped Strands For Pc County Council also has approved tax incentives for a manufacturing facility, codenamed Project Golden Eagle, that would make a nearly $800 million investment and bring 1,800 new jobs to the area. That company’s name has not yet been disclosed.