SPARTANBURG, S.C. (AP) - Tire manufacturer Michelin North America is planning to invest up to $175 million in equipment at its facilities in two South Carolina counties over the next five to seven years.
Company spokeswoman Megan Bagwell said Michelin is committed to investing $75 million at its facilities in Spartanburg County. The other $100 million will go towards the company’s plants in Greenville County, the Herald-Journal reported.
The announcement comes as the tire manufacturer is seeking to update its tax agreement with both counties.
The Spartanburg County Council recently approved the second step for the company’s new tax agreement, which will continue to reduce the its property tax rate in exchange for investments in the county.
That agreement will take effect upon the third approval, which is likely to be next month. No new jobs have been promised.
The company employs nearly 10,000 people in South Carolina. About 4,400 of those workers are in Greenville County.
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