(The Center Square) — The South Carolina Coordinating Council for Economic Development approved job development credits for a home builder expanding its Richland County corporate headquarters.
Mungo Homes plans to spend $10 million on the 20,250-square-foot facility, which will house various teams, including accounting, information technology and marketing. The company, which was established in Columbia in 1954 and is part of Berkshire-Hathaway Inc., expects to create 40 jobs.
The council also awarded Richland County a $200,000 Set-Aside grant to help with building improvements.
“The expansion will not only be an asset to the Irmo area with the creation of new jobs but also add to the vibrancy and quality of life in the community,” Richland County Council Chair Overture Walker said in an announcement.
According to the South Carolina Department of Commerce, the value of JDCs depends on the wage rate paid to employees and the tier ranking of the county. Since the credits are performance-based, the company may not collect them until they have reached their investment and job creation requirements.
The new building is next to its current headquarters on Western Lane in Irmo, which will be renovated. The company expects to complete this project late next year or in early 2025.
“Even though our footprint has expanded to four states, this company was ‘born’ in Irmo, South Carolina so it’s important to us to remain headquartered in our home community,” Steven Mungo, CEO of Mungo Homes, said in an announcement.
