Billion Dollar Mystery Investor Likes Spartanburg

Spartanburg County Council takes first step to attract $2.8 billion mystery investment

DAVID BRITT, SPARTANBURG COUCILMAN

• An unnamed company is considering Spartanburg County, South Carolina for a $2.8 billion data processing center.

• The proposed project, dubbed "Project Moc-1," would create 27 jobs and support the company's aerospace technology and engineering work.

• Spartanburg County Council has approved tax incentives to attract the company, despite criticism over the small number of jobs created.

• Proponents argue the project will generate significant tax revenue, create indirect jobs through local contractors, and elevate the region's technological profile.

The largest single economic development investment in Spartanburg County’s history came one step closer to becoming a reality on Monday night.

Spartanburg County Council unanimously passed the first reading of an ordinance allowing two separate fee-in-lieu of tax agreements – one for the property, the other for investments in equipment – aimed at attracting a company planning to invest $2.8 billion in a state-of-the-art data processing center. A public hearing will follow if the proposal passes a second council reading.

The ordinance formalizes a resolution the council passed in February. It does not, however, name the company or reveal the proposed location of its investment.

That will come at next month’s meeting – if the company chooses Spartanburg – according to David Britt, who chairs Spartanburg County Council’s economic development committee. For now, the company has dubbed the proposed investment "Project Moc-1," he said.

“We are still competing with one other state,” Britt said. “But they really like Spartanburg.”

And Britt likes the county’s chances. “You can never take anything for granted, but I am very excited,” he said.

Here’s what we know about the mystery company

Britt said the computing center would support the firm's work in the aerospace technology and engineering sector. He said it has operations in Texas, Connecticut, and Virginia.

The company would employ only 27 people in Spartanburg County.

Britt acknowledged that the small number of jobs has drawn some criticism of the county’s recruitment effort, but made a three-part argument in support of the tax incentive package.

Bringing the tax rate down to four percent for the company – instead of the state’s standard 10 percent on the industry – there would still be a financial windfall for local governments, especially school districts, in the county. Without the fee-in-lieu of taxes agreement, the company would not consider South Carolina, Britt said.

While the number of new jobs at the facility may be small, the company would bring work for local contractors – in maintenance, HVAC systems, and other areas of support.

Finally, Britt said the company will set a standard for high-tech innovation and excellence. For example, the facility would generate its own electrical power, he said. Britt added that company leaders say they want to invest in STEM programs in area schools.

“This is the kind of company that will elevate not only Spartanburg County but all of South Carolina, too,” he said.

If Spartanburg is selected, Britt said he expects company officials to attend the April County Council meeting.