Over 300 new jobs may be coming to Myrtle Beach

An out-of-state company wants to bring 317 jobs to Myrtle Beach, but the name of the company hasn’t been announced.

Horry County Council voted Tuesday to let the Myrtle Beach Regional Economic Development Corporation offer an incentive to an out-of-state company that wants to open up shop in Myrtle Beach.

Myrtle Beach EDC President Josh Kay said the company is bringing 317 jobs paying between $15 and $20 an hour and will invest $1.4 million over the next five years.

The county had to approve a variance because the EDC normally isn’t allowed to offer incentives to companies that invest less than $2.5 million, Kay said.

“They’re not building a building, they’re actually going to be leasing an existing space,” Kay said. “So the overall capital investment is lower.”

The incentives the EDC can offer are tied to the number of employees a business brings, said Kay.

“Because of the variance, the maximum they could get with 317 full-time jobs is over $600,000,” he said. “The incentives that we’re offering them is way less than that.”

Kay couldn’t say what incentives the EDC was offering because the deal hasn’t been finalized.

He said he couldn’t disclose which company was locating here because some of its employees may be relocating and haven’t been told yet, but that it’s a technology service company.

“Initially they’re going to be looking in the Market Common region for a temporary space,” he said. “And they will potentially be moving outside of that later on.”

The name of the company could be announced by the end of the month, he said.

This story was originally published October 20, 2017 at 9:51 AM with the headline "Over 300 new jobs may be coming to Myrtle Beach."