Report: Becton Dickinson to invest up to $150m in S.C. facilities, create 125 jobs

June 13, 2018 By Fink Densford Leave a Comment

Becton Dickinson (NYSE:BDX) has agreed to invest as much as $150 million into its Sumter, S.C. facilities, adding an additional 125 jobs to the region, according to a Sumter Item report.

The investment was recently approved by the Sumter County Council, according to the report, and will expand facilities that already house 700 BD workers. The facilities under expansion have been in operation since 1970.

“For nearly 50 years, BD’s Sumter facility has consistently delivered superior quality products, vital for our customers and their patients, through a talented and engaged workforce. We would like to thank TheLINK economic development alliance, Sumter Economic Development, the City of Sumter, Sumter County and the S.C. Department of Commerce for their continued support of BD and our employees as we continue to invest in the facility. We look forward to the ongoing success of our BD Sumter manufacturing team as they continue to advance the world of health,” BD chief supply chain officer Jim Borzi said, according to the Item

Through the deal with the county, Franklin Lakes, N.J.-based BD could receive a 6% property assessment ratio for 20 years if it agrees to invest at least $2.5 million within five years.

BD is also eligible for a 25% special source revenue credit for 10 years if it creates at least 75 new full-time jobs within eight years, or a 4% assessment ratio and 25% special source revenue credit for 10 years if it invests $150 million and creates 125 new jobs over eight years, according to the report.

Late last month, BD priced a set of European debt offerings totaling $677 million.

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