ANDERSON — The Anderson Redevelopment Commission and the Economic Development Commission on Thursday gave the final approval necessary to provide $3.25 million to Greenville Technology Inc. to help build its new plant at the Flagship Enterprise Center.
That money was offered as an incentive to the company to build its $21.4 million plant in Anderson and create 325 jobs in three years.
The Ohio-based company and the City of Anderson announced the deal in late July. Construction has already begun on the 150,000 square foot auto-parts manufacturing plant, which will create car consoles, glove boxes, engine covers and other parts for Honda’s plant in Greensburg.
The building is scheduled to be completed by the end of the year, and about 100 employees will be hired for the January opening.
The $3.25 million that the two commissions approved will come out of the tax increment financing district fund. GTI will have access to the money for construction once it has spent $3.25 million of its own.
TIF districts are created so that property taxes from new commercial, industrial and manufacturing businesses are captured and spent on infrastructure improvements within the district. Those improvements are then used as an economic-development tool to attract more businesses to the city.
The redevelopment commission also approved the payment of $250,000 to the commercial real estate broker who helped make the connection between GTI and Anderson that led to the company moving here. The money will be paid out of the TIF fund.
The commission also approved a $51,800 expense for the purchase of right-of-way land for the GTI project.
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