Nachi Technology will receive a tax break worth more than $300,000 after the Greenwood City Council gave it the final OK Monday night.
The city council unanimously approved the personal property tax abatement for new equipment and machinery.
The tax abatement had previously passed unanimously during its first reading earlier this month.
The tax break will save the company a projected $316,760 over the next seven years. Nachi will still pay $532,800 in taxes over the next 10 years, according to city documents.
Nachi intends to invest more than $9 million in advanced technology and manufacturing equipment specifically for grinding, matching and assembling automobile bearings.
The investment is expected to create 10 new jobs for Nachi, in addition to the 65 workers the company currently employs, city documents show.
