Details of the incentive bill in the General Assembly for a proposed $400 million retail complex in Jasper County:
- Officials say the project could produce up to 2,500 jobs. The incentive plans would make developers eligible for more than $70 million in state money to help offset infrastructure costs. Some estimates say the incentive could reach $100 million.
- Developers project Okatie Crossings could generate $11.6 million in tax revenue annually for the state. This is what the state would get after developers are awarded incentives.
- The incentives won't activate until developers have spent $100 million and created 1,000 jobs. Additionally, the development must maintain at least 500 jobs at all times to continue to receive incentives, which are paid annually. If employment falls below 500 jobs in any year, then Okatie Crossings would be ineligible for incentives that year.
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.
- The incentives sunset after five years.