Enviva to invest $20M jobs, add 10 jobs at former Colombo plant
A Maryland-based company is acquiring Colombo Energy’s wood pellet plant in Greenwood County is making a larger investment than originally announced.
On Tuesday, the County Council approved an amended fee-in-lieu-of-taxes package for Enviva Pellets LLC, extending a tax abatement agreement by two years for a planned $20 million investment at the site located off Highway 246. With that investment, Enviva will add 10 jobs.
Enviva Public Affairs Director Maria Moreno said in January the company is purchasing the facility for $135 million.
“Enviva is a proven acquirer, and we are excited to bring the Greenwood team into the Enviva family. Our business is heavily dependent on our people and our relationships, and it will require all of us to grow the Greenwood plant into a world-class production facility,” Moreno said. “Upon the closing of the Greenwood transaction, Enviva expects to maintain as many as 80 full-time positions at the facility.”
Also Tuesday, the County Council approved a memorandum of understanding with the Greenwood Genetic Center on a plan to reimburse it for up to $358,283 using capital projects sales tax revenues as the campus moves forward with plans to install fiber optic cable and related equipment.
The proposal is one of 27 ventures to be paid for through an $85 million revenue stream collected over eight years through a special sales tax.
Clocking in at the 21st position, County Manager Toby Chappell said the Genetic Center made the decision to move forward with the work now — potentially opening itself up to not recouping the money in the unlikely event that the full sales tax collection amount is not realized.
“Greenwood County makes no guarantee as to when, or if, funds will be available to reimburse the GGC for this project,” the memorandum said. “The GGC is undertaking this project now at its own risk, understanding that Greenwood County will not indemnify the GGC for any liability, financial or otherwise, associated with the project.”
Originally Published by Index-Journal on:Feb 7, 2018
By ADAM BENSON abenson@indexjournal.com