Tax incentive drawing millions in revenue to Greenville County [Video]

On Tuesday night, Greenville County leaders are providing information about a popular strategy for bringing businesses to our state. The “fee in lieu of tax” program has been a frequently used incentive to bring competitive industries to our area. Creating jobs and improving investments is the goal of Greenville County’s “fee in lieu of tax” program, according to Max Stewart with the Greenville Area of Development Corporation. He explained the program during a communications and governmental affairs committee meeting Tuesday.”We want to make sure that we have new jobs, and new investment is needed at all times to maintain our current economic flow,” he said. “It is all a reduction of future property taxes. So instead of paying 10.5%, they can reduce the rate to 6% for a normal FILOT, or for a super FILOT, it can go to 4, 4.5% depending on how big the project is. These are …