Timken Tyger River Plant, a leading manufacturer of bearings and bearing components, announced today that it is acquiring new equipment and machinery to increase capacity at the Union County facility. The project is expected to bring over $2.5 million in capital investment to expand operations and industrial growth.
The Timken Company is a Fortune 500 company which began in 1899. Timken has operated in Union County more than 52 years and supplies over 17,000 different bearings components to industrial customers worldwide. The Timken Tyger River Plant is a 350,000 square foot building located at 408 Industrial Drive, Union, SC.
“Investing in our people, the community, and state of the art technology has been critical to the long-term success of our plant in a globally competitive marketplace,” Timken Tyger River Plant Manager Bob Hart said. “Our plant has been a part of this community for over 52 years, and we sincerely appreciate the leadership, support, and partnership approach to doing business as we all strive to make Union County a strong community to live and work in.”
The expansion was welcomed by local government and economic development officials who praised Timken for its commitment to Union County.
“We are very excited to see the Timken Company making this investment in Union County,” Union County Supervisor Frank Hart said. “Timken has been and continues to be a great partner and outstanding corporate citizen in Union County.”
Andrena Powell-Baker, Interim Chair of the Union County Development Board, said “the Timken Company continues to be a valuable asset to our community. This new investment demonstrates their confidence in doing business in Union County and we are proud to support these and future endeavors.”
Also welcoming the announcement was Union County Development Board Executive Director Kathy Jo Lancaster who pointed to Timken’s long history of involvement with the community.
“We are very proud to celebrate with the Timken Company for their continued success in Union County,” Lancaster said. “Over the past 52 years, Timken has been a staple in our community thereby increasing job opportunities for local citizens and strengthening our local tax base.
“The Timken Company is a long time supporter of activities by the local school district, SCC Union County Campus and USC Union to implement workforce preparation programs, partnerships and initiatives preparing skilled workers ready to meet future industry demands,” she said. “In addition, Timken is an excellent community partner as they donate their time, expertise and funding of service related programs and various other activities.”
Lancaster added that “we are extremely grateful to the Timken Company for their continued growth and investment in Union County. We look forward to working alongside Bob Hart and his team to ensure a successful expansion process.”
The announcement of the expansion comes on the heels of Union County Council voting unanimously Tuesday to approve third and final reading of the ordinance authorizing a fee-in-lieu-of-taxes agreement between the county and an entity that for the past three months has been known as “Project TRP.”
The ordinance states that under the agreement the county will “accept certain negotiated fees in lieu of ad valorem taxes and provide certain special source revenue credits with respect to the establishment and/or expansion of certain facilities in the county” and provide “certain other development incentives” to the project.
Following Tuesday’s vote it was revealed that Project TRP was the code name for the expansion of the Timken Tyger River Plant. It is a common practice in economic development when agreements are being negotiated between a public entity like the county and a private entity like a business or industry, for the former to assign the latter a code name. The code name remains in place until the process is completed when the identity of the private entity is announced.
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