New company in Spartanburg to be revealed soon

SPARTANBURG, S.C. (AP) - Spartanburg County already has promised to use tax dollars to bring a company to the area, but residents won't find out which company will be creating jobs until the project has final approval.

The Spartanburg Herald-Journal reports that the company behind "Project 300" will be divulged Monday night, when the County Council holds a public hearing and then a vote to approve the deal. The company is expected to bring several hundred new jobs to the county.

County officials say keeping the terms of such deals secret is often essential to sealing the deal. Council Chairman David Britt says companies are often still negotiating the final terms of the new location or are working with stockholders.

However, John Crangle of Common Cause South Carolina says secrecy can lead to some incentive deals being far too generous for companies.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.