Pepsi bottling plant wins 30-year tax break from Horry County as part of North Myrtle move

Pepsi Bottling Ventures’ planned relocation from Conway to a North Myrtle Beach business park was fueled in part by a decades-long tax break deal from county leaders, according to a newly released contract between the sides.

Code named “Project Cook,” the bottling arm of PepsiCo will see its property tax rate stay at 6% for 30 years in exchange for its $15 million investment and retention of 146 jobs.

County leaders are expected to finalize the deal Jan. 24 as the year’s first economic development project.

State law protects the identity of companies negotiating with local governments until a third and final reading is approved.

State and local officials announced before Christmas that Pepsi Bottling Ventures was moving into a 164,850-square-foot building as an anchor tenant at the Palmetto Coast Industrial Park along Water Tower Road.

The company has had a presence on U.S. Highway 501 in Conway since 2009.

North Myrtle Beach will also benefit from Pepsi’s imminent arrival, collecting $115,000 as a part of a deal for ongoing road maintenance and upkeep.

Planning documents approved by city officials last summer show Pepsi Bottling Ventures intends to eventually expand inside the park with a 52,000-square-foot addition and 23 tractor-trailer stalls.

Within a year and a half, the 69-acre Palmetto Coast Industrial Park is set to host 700,000 square feet of industrial and manufacturing space, with amenities suitable for warehouse assembly lines, adding to Horry County’s growing number of sites aimed at attracting large-scale business investment.