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Albemarle Corp.’s $1.3B project gets OK for Chester County incentives

CHESTER COUNTY, S.C. — Chester County has handed down its approvals for incentives for Albemarle Corp.’s (NYSE: ALB) significant investment in the region.

Monday evening, the Chester County Council approved the third and final reading of an ordinance authorizing the county to enter into an incentives agreement with Albemarle Corp. The Charlotte-based company announced last month that it plans to invest $1.3 billion and create more than 300 new jobs at a lithium hydroxide processing facility there.

The county passed previous readings for the incentives when the project was under the code name Project Raven.

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