PEE DEE SPEC BUILDING

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1 PEE DEE SPEC BUILDING FLORENCE, S.C.

7 LABOR SHED LOCATION PROFILE As evidenced by a recent employer survey, the Florence County Labor Shed is defined a 60 minute radius of the city of Florence. Key labor statistics for the area include: 459,913 people in the workforce and a total population of 1,024,661 12% of the labor shed s workforce is employed in manufacturing occupations. 40,800 people within the labor shed are employed in manufacturing occupations. Average annual manufacturing wages within the labor shed are $46,045 compared to the state average of $53,375 and the national average of $60,806. The cost of living in Florence County is 14% lower than the national average cost of living. 83.2% of the population has a high school education or higher and 27.2% of the population has a two year college degree or higher. During the last reported year, colleges and universities within the labor shed awarded 4,720 certificates and associate s degrees, 3,301 bachelor s degrees and 487 postgraduate degrees. Since 2011, companies in Florence County have announced investments exceeding $200 million and around 2,000 new jobs. This growth is indicative of the region s positive business environment and productive workforce. COMPANY INDUSTRY EMPLOYEES NAN YA PLASTICS CORPORATION PLASTICS 900 HONDA OF SOUTH CAROLINA MANUFACTURING AUTOMOTIVE ALL TERRAIN VEHICLES 850 MCCALL FARMS FOODS 800 WELLMAN PLASTICS RECYCLING PLASTICS RECYCLING 700 OTIS ELEVATOR COMPANY ELEVATOR MANUFACTURING 550 ROCK-TENN KRAFT LINERBOARD, CORRUGATED PAPER 450 GENERAL ELECTRIC MEDICAL SYSTEMS MEDICAL DEVICES 340 ROCHE CAROLINA PHARMACEUTICALS 300 JOHNSON CONTROLS BATTERY RECYCLING 250 ESAB WELDING AND CUTTING PRODUCTS WELDING AND CUTTING PRODUCTS 240

8 TAXES While many states have resorted to massive taxes that create a burden for business development, South Carolina has eliminated many taxes found in other states. For example, companies locating in the state benefit from: No state property tax No local income tax No inventory tax No sales tax on manufacturing machinery No sales tax on industrial power No sales tax on materials for finished products No wholesale tax No unitary tax on worldwide profits Sales tax on automobiles, boats, and planes capped at $300 In addition to those described above, there are numerous other sales tax exemptions available to businesses. For a complete list of exemptions, please see: Section12_36_2120.pdf The top corporate tax rate is 5%. South Carolina s corporate income tax rate is among the lowest in the Southeast. The state uses a single factor sales formula for apportioning income. Many companies qualify for a Job Tax Credit, which eliminates up to 50% of a company s corporate income tax liability for a specified number of years. The Corporate License Tax Rate is $1 for each $1,000 of capital stock and paid-in or capital surplus, plus a $15 annual fee. Inventories, raw materials, goods-in-process and finished goods are exempt from property taxation in accordance with state law. For manufacturing companies, real and personal property have an assessment ratio of 10.5% unless their investment is at least $2.5 million and the county agrees to reduce the assessment to 6% under a fee in lieu of taxes (FILOT) agreement. The millage rate is determined by the physical location of the company s facilities. In general, the effective property tax rate in Florence County rarely exceeds 2% of assessed value. Florence County assesses property taxes using the following formula: Assessed Value X Millage Rate X Assessment Ratio = Property Taxes INCENTIVES Under a Fee in Lieu of Taxes agreement, Florence County may significantly reduce applicable property taxes payable by lowering the assessment ratio from 10.5% to 6%. This agreement also protects the company from property tax increases for up to 30 years by locking the millage rate. Property taxes may be further reduced at the discretion of the county under a special source revenue agreement. Florence County has the discretion to offer other incentives for job creation on a case by case basis and contingent upon a performance agreement.

9 WORKFORCE TRAINING FACILITIES & PROGRAMS Southeastern Institute of Manufacturing and Technology The Southeastern Institute for Manufacturing & Technology is the premiere technical service provider and training facility for industry in the southeastern United States 146 Acre campus Engineering/CAD/CAM Rapid Prototyping 3D/Virtual Reality Services Customized manufacturing, workforce development, and business process training Contract services available Training programs potentially eligible for state incentive funding Francis Marion University Industrial Engineering Program Enrollment will begin in 2014 and transfer students from the math and physics departments will make it possible to have a graduating class as early as A rigorous program has been developed and approved by the state and FMU Board industrial engineering graduates anticipated per year initially Florence Darlington Technical College ESAB Welding Academy Created through a partnership with ESAB Welding and Cutting Products, a major manufacturer of welding products Since the 1990s the ESAB Welding Academy at Florence Darlington Technical College has become the premier welding education program in the Southeast. The program graduates 60 to 70 skilled welders per year. ReadySC As part of the South Carolina Technical College System, ReadySC can provide workforce training at no cost to employers locating within the state. Training can be done either at a technical college or at the employer s facility ReadySC has trained more than 6,000 people for companies since 2010.

10 PROPERTY INFORMATION County: Florence Address: 2494 Florence Harllee Blvd Florence, S.C (Intersection of I-95 and HWY 327 on Exit 170) PROPERTY INFORMATION Year built: 2014 Condition: Excellent Total building square footage: 100, Expansion square footage: 300, Typical column spacing: 50 x 50 Wall material: Premium insulated, precast concrete Roof material: TPO Clear height under beams: 28 0 Number of dock doors: 2 and one drive-in door Class A, LEED Ready Certified industrial site: environmental, geotechnical, endangered species and wetland completed. TRANSPORTATION Nearest Interstate: Interstate 95; Distance: Less than one mile Nearest Port: Georgetown; Distance: 71 miles Nearest Commercial Airport: Florence Regional Airport; Distance: 7.8 miles Runway Access: No UTILITIES & SERVICES Water Provider: City of Florence Water Main Diameter: 8 Inches Wastewater Provider: City of Florence Wastewater Main Diameter: 6 Inches Natural Gas Supplier: SCE&G Electric Provider: Pee Dee Electric Cooperative Telecom Providers: Time Warner Cable and AT&T

11 PEE DEE SPEC BUILDING

12 PEE DEE SPEC BUILDING

13 PEE DEE SPEC BUILDING FLORENCE, S.C.

LOCAL BUSINESS INCENTIVES 2017 YORK COUNTY ECONOMIC DEVELOPMENT

LOCAL BUSINESS INCENTIVES 2017 YORK COUNTY ECONOMIC DEVELOPMENT To offset property tax liability, a qualifying company may take advantage of one of two incentive programs. Depending upon total investment,