Sumter County Council on Nov. 26 approved third and final reading of a fee-in-lieu agreement for SKF as the company’s expansion here will see a $26 million investment and create 10 new jobs.
A few years ago, SKF purchased Kaydon Corporation, though locally many still refer to the two plants here as Kaydon.
Sumter County Attorney Johnathan Bryan spoke about the fee-in-lieu (FILOT) to members of Council during the Nov. 26, 2019, regular meeting.
Sumter Economic Development’s Brian Rausenbach said it’s been a pleasure to work with SKF for the past two and a half years to complete the expansion.
“The company completely counts on Sumter for their continued growth, investment and job creation,” he said.
Joining Rausenbach was Jenene Morris, the Plant Controller for SKF, and her daughters Jordan and Samantha.
Council Chairman James T. McCain thanked the company for their continuing contribution to the local economy.
Councilwoman Vivian Fleming-McGhaney also thanked Morris, and noted that “we don’t take for granted” what existing industry does for Sumter County.
SKF is a global leader in bearing manufacturing, and on Wednesday morning, South Carolina Gov. Henry McMaster’s office issued a press release touting the expansion.
“We work hard every day to recruit new companies to South Carolina, but it’s even more exciting to see one of our existing businesses expand. When a company like SKF grows its operations, it sends a message to other businesses that South Carolina is a place where they can thrive. We celebrate SKF’s decision to invest $26 million and create 10 new jobs in Sumter County,” McMaster said in the release.
SKF Sumter Director of Operations Marcus Jakob said SKF is proud to have a home in Sumter.
“We are committed to world-class manufacturing and providing a world of reliable rotation through a talented and engaged workforce. We are grateful for the collaborative efforts of local government and community officials in establishing a business-centric environment where SKF can feel confident in investing in our facility and creating valued jobs,” he said. “We look forward to the continued success of our SKF Sumter manufacturing team as they advance the world of next-generation bearing manufacturing.” #SumterCountySC