Michelin could expand Midlands facilities with a $159M investment. Here’s what we know
Michelin, an international tire manufacturer that employs thousands of people across South Carolina, is in the early stages of a possible $159 million investment in Lexington County, according to county documents.
Lexington County council unanimously approved a resolution Tuesday night to enter into contract negotiations with the company, which already operates more than two dozen facilities across the state. It’s unclear how many jobs, if any, the investment could bring.
“This is still really early on, so as far as details of what that agreement specifically looks like … we’re still talking to Michelin about those things,” Garrett Dragano, the county’s economic development director, said. Dragano noted the process is still competitive, meaning other municipalities are also vying for Michelin’s investment.
While details of the investment aren’t yet fully known, the proposed $159 million would be used to upgrade Lexington’s existing Michelin plants that sit just outside of Red Bank along Interstate 20. The company is already the fourth largest employer in the county, with some 2,600 workers on its payroll, according to county data.
If Michelin selects Lexington for its investment, the county and state are likely to doll out a handful of tax incentives and credits as is typically the case for things like manufacturing investments. It wouldn’t be the first time the county has given the company tax breaks – Lexington agreed to around $45 million in property tax abatements over 30 years in a 2012 investment deal worth $200 million.
“We’ll put our best foot forward and Michelin’s a great partner and community member and a part of our corporate family here in Lexington County and we want to ensure that they continue to grow and be successful so we’ll do what we can to make sure of that,” Dragano said.
Representatives for the company told The State in a statement that they are “always considering business development opportunities in the areas where we operate. However, we have nothing to announce at this time.”
Michelin’s North American operations have been headquartered in Greenville County since 1985. The company employs nearly 10,000 people across the state and operates 15 facilities in South Carolina, according to its website.
The tire manufacturer expands as other similar production facilities set their sites on the Columbia-area – Scout Motors, an electric vehicle manufacturer, is aiming to bring 4,000 new jobs with a $2 billion investment by the end of 2026.
This story was originally published December 10, 2024 at 5:24 PM.
