Stanley Black & Decker expands in Cheraw

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By The Staff

CHERAW – Stanley Black & Decker is expanding its Cheraw operations, investing $3.9 million and creating 60 new jobs. 

The Chesterfield County Council approved a fee-in-lieu agreement for the expansion. The 30-year agreement typically saves a company about 40 percent on its property taxes. The tax assessment rate is also lowered from 10.5 percent to 6 percent.

The county also approved special source revenue credits which refunds 20 percent of the fee-in-lieu payments for the first five years of the project. 

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