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Tax credits fund massive $200 million
Swiss Krono expansion in S.C.
More than $45 million in tax credits, allocated by the National New Markets Fund, The Innovative Fund, Dakotas
America, and Sun Trust Community Capital, will go toward
funding a 250,000-square-foot, $200 million expansion
of Swiss Krono’s plant in Barnwell, South Carolina. Swiss
Krono is one of the world’s leading producers of engineered wood.
The project includes the construction of a new multi-density fiberboard manufacturing line, ancillary wood
yard, energy plant and waste treatment facilities, and the
installation of a fourth laminate flooring line. The expansion is expected to create 500 construction jobs and 105
permanent jobs at the plant. The rural area of Barnwell
has 14. 4 percent unemployment.
The addition of a multi-density fiberboard manufacturing line will allow the company to vertically integrate its
business, resulting in substantial operational cost savings.
The company will source its wood products locally.
With 167 current employees, Swiss Krono is one of
Barnwell County’s largest employers.