SPARTANBURG — A Swiss company is coming to Spartanburg County, bringing dozens of jobs and millions of dollars.
Sky Composites, a Switzerland-based company, is moving its U.S. headquarters to Spartanburg County. It had locations across the nation and now will have one facility in the Upstate. The company specializes in composite materials related to manufacturing, processing and global distribution.
The move will create around 65 jobs and an investment of up to $8.4 million that won’t be less than $6.72 million, according to an agreement between the company and the county.
Virginia-based Carbon-Core and Texas-based Marex Composites will merge as part of the move with the parent company Sky Composites.
Spartanburg County Council Vice Chairman David Britt, who chairs the county’s Economic Development Committee, said he’s happy Sky Composite is coming to the Upstate.
“We’re going to do everything in our power to make them tremendously successful,” Britt said.
Initially established in Beijing in 1992, Sky Composites is headquartered in Zurich, Switzerland, according to the company website.
County Council members on Aug. 19 unanimously approved third and final reading authorizing the execution of a fee-in-lieu-of-tax agreement, also known as a FILOT, between the county and the companies. The agreement replaces property taxes with different fees.
Britt said the process of attracting the company to the county began in December and that it offers good benefits and pay.
“Spartanburg residents will have a chance for hope and opportunity,” he said.
Spartanburg County has long attracted multinational manufacturing and industrial companies with its business-friendly environment. At its heart is BMW Manufacturing, which employs 11,000 workers at its 8-million-square-foot campus in the county.
Canada-based equipment manufacturer Carbotech Group recently moved to the county with a $3.4 million investment that will create 35 jobs.
Omron, a Japan-based global automation solutions provider and Switzerland-based payment solutions provider Matica Group announced multimillion-dollar investments in Spartanburg earlier this year.
Some have criticized the practice of FILOTs. Bryan Alverson challenged Britt’s county council seat earlier this year and said the agreements only bring temporary jobs. They are based on investment and not job creation.
“What they’re doing, they’re prostituting citizens for the benefit of these companies,” Alverson said. “We need to bring in companies who’s gonna be conducive to our ideals and our values.”
However, Spartanburg voters spoke at the ballot box in June and delivered Britt a win. He won more than 62 percent of the vote against Alverson.
As long as Britt is in office, Spartanburg residents can expect more large investments and more FILOTs. He has defended the agreements by citing the county’s rise in median income over recent decades.
“We have 217 international companies that call Spartanburg home,” Britt said. “We know who the golden goose is: Business and industry.”