Metal recycling business moving from Pineville to Rock Hill. This is what we know now
A company with plans to clean and recycle metals is clear to set up shop in Rock Hill.
York County Council approved a tax incentive agreement to bring Pineville, N.C.-based Nucycle to property off Porter Road. The site is near I-77, close to Castle Heights Middle School. Nucycle takes junk cars and dilapidated goods out of the environment, which can be made into usable metals.
The tax deal with the county allows Nucycle to pay a fee rather than property taxes for 20 years. The company gets to pay a 6% rate on a five-year adjustable millage rate. In South Carolina, companies that invest at least $2.5 million can negotiate a fee to reduce its assessment rate from 10.5%.
Nucycle committed to a minimum five-year investment of $15.83 million. The company also committed to 41 new jobs. The incentive deal is contingent on the company meeting those marks. Company accountant Bucky Glover, who has worked with the owners for 25 years, said Nucycle will earn its incentive deal.
The deal, Glover said, is key to bringing the company.
“We have some sites in another South Carolina county and some in North Carolina, but it seems like Rock Hill, York County, is the best place for us to be,” Glover said.
County land records show Nucycle Land bought property off Porter Road and the Flint Street Extension in January for $1.6 million. Records show the company owns six land parcels with nine addresses on those roads. The incentive deal includes eight land parcels, the main address at 234 Porter Road. The properties combine for about 32 acres.
The incentive deal outlines minimum requirements, but Glover said the anticipated initial investment is about $18 million.
“We’re going to make a significant investment in high-tech recycling equipment,” Glover said. “We’ll be creating jobs.”
This story was originally published March 23, 2022 at 1:18 PM.
