County Approves First Reading for SRE Incentives

Dorchester County Council approved the first reading for a fee-in-lieu of taxes agreement with Southeast Renewable Energy, LLC, and first reading for property for the company in the Dorchester-Orangeburg joint county industrial park on Monday during its regular meeting in St. George.

Council agreed in August to move forward with incentives for the company, which will bring a $50 million investment and 20 jobs in the county. .

Council did not discuss the items during the meeting.

According to this agreement with the company, the county agreed to:

• Ensure the company-owned property remains in the joint-county industrial park for 30 years. Being in a multi-county industrial park allows the fee-in-lieu of tax agreement to be executed. Dorchester County will get 99 percent of the fees, and Orangeburg County will get 1 percent of the fees.
• Collect $258,649 per year for the next 30 years in fees through the fee-in-lieu of ad valorem taxes agreement. 
• Ensure the company a 6 percent assessment ratio and a fixed 30-year millage rate of 0.3675. 
• Provide the company with special source revenue credits to offset payments under the fee agreement.