Alexander County Commissioners approved an Industrial Development Grant for Schneider Mills at their February 5th meeting. Schneider Mills, which has been in operation in Alexander County since 1946, will invest at least $1 million in new equipment.
David Icenhour, Executive Director of the Alexander County Economic Development Corporation (EDC), informed commissioners that Schneider Mills plans to invest at least $1 million in new equipment. The local incentive grant program allows companies that invest $1 million to apply for a reimbursement of property taxes.
Schneider Mills will receive a 50 percent reimbursement of the property taxes paid on the new equipment over a four-year period, while retaining at least 95 percent of its 274 full-time employees. The reimbursement in the first year is expected to be approximately $3,000 to $4,000.
Icenhour said this grant shows the county’s appreciation of its existing industries. He noted that Schneider Mills has invested about $14 million in equipment over the past 10 years.
Ronnie Reese, Chairman of the Alexander County Board of Commissioners, said he appreciates Schneider Mills’ long-time investment in the community.
“Schneider Mills is a solid company that has been here a long time,” Reese stated. “We appreciate what they’ve done for our economy.”
Schneider Mills began in New Jersey in 1917, and opened the Alexander County plant in 1946, recently celebrating their 70th anniversary locally. To learn more about Schneider Mills, visit www.schneidermills.com.