Hwashin announces $9M project
Published 3:04 pm Tuesday, September 23, 2014
One of Butler County’s largest employers is spending millions of dollars to upgrade the equipment in its Greenville facility.
Hwashin America, a Tier I supplier for Hyundai and Kia, plans to spend $9 million on new manufacturing equipment.
“They’re getting ready to invest $9 million in new equipment, mainly tool and die and manufacturing equipment to accommodate the model change that will occur at KIA,” said David Hutchinson, executive director of the Butler County Commission for Economic Development. “This is a sign that Hwashin is, and will continue to be, an important Tier I supplier to KIA.”
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On Monday, the Greenville City Council voted to grant the company a 10-year tax abatement to aid with the project. The abatement means that the company will be exempt from paying all state and local non-educational taxes.
The project is not expected to create any additional jobs. Hwashin already employees approximately 750 people.
“Hwashin has been great for the City of Greenville for the last 10 years and they continue to expand and also buy new equipment,” said Greenville Mayor Dexter McLendon. “When they do that, we try to abate that. But that is great news for the education system because they’ll end up getting thousands of dollars because you cannot abate the educational tax.”
Hutchison said the school system will immediately receive approximately $18,000, and will receive about $20,000 a year for the next 10 years.
“We appreciate their decision to invest in our community,” Hutchison said.
The city has issued tax abatements for Hwashin since 2003 when it located in Greenville.
Prior to Monday night, the most recent abatement the city granted Hwashin was tied to the company’s $25 million, 100,000-square-foot expansion that was approved in March of 2013.
That abatement allowed the company will be exempt from paying all state and local non-educational taxes and all construction related transaction taxes with the exception of those levied for educational purposes or for capital improvements for education.