County considers FILOT for $42M Volvo Cars USA project.

• Position: Fee-in-lieu-of-taxes

The Greenville Area Development Corp. today confirmed reports that Volvo Cars USA is seeking a fee-in-lieu-of-taxes agreement to invest more than $42 million in a tooling facility.

The GADC said in a statement that Volvo Cars USA does not intend to build a new facility but will invest in the work of an existing business.

"In the automotive industry, strategic investments are often made by brands such as Volvo Cars USA with select suppliers to have certain work, such as tooling or mold preparation, done at the facilities of those partners," the statement said. "Such is the case in this pending agreement with Greenville County."

The proposed FILOT agreement is on the Greenville County Council agenda for their meeting today at 5 p.m.

"Ultimate decisions on staffing and job creation will be made by the partners at the chosen locations where Volvo Cars USA's investment in equipment and site preparations will take place," the...