(The Center Square) — The South Carolina Coordinating Council for Economic Development approved job development credits for a startup manufacturing company establishing its South Carolina operations.
Honor LSV is spending $34.2 million on a 130,000-square-foot facility on Omni Industrial Blvd. in Summerville. The company, which designs, manufactures and assembles luxury low-speed vehicles and golf carts, expects to create 65 jobs as part of the project.
The council also awarded Berkeley County a $100,000 Set-Aside grant to help with building improvement costs. Honor LSV has full production capacity at the Berkeley County facility, including manufacturing and finishing.
“This state-of-the-art, startup company’s $34 million investment will benefit our county’s economy, workforce and residents by creating more quality paying jobs and helping to keep our taxes low,” Berkeley County Supervisor Johnny Cribb said in an announcement. “This project is yet another shining example of how strategic investments can go a long way to positively impact our community.”
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 company began operations in Summerville roughly two months ago, a state official confirmed to The Center Square.
