Rightway Fasteners plans $12 million investment

Rightway Fasteners is planning a $12 million investment to increase production at its facility in Walesboro.

Representatives for the company are scheduled to appear Tuesday night before the Columbus City Council to request a tax-abatement . Rightway Fasteners is purchasing and installing two cold forging machines, a heat treatment furnace, three coating lines and three shot-blast machines. The company is asking for a 10-year tax abatement on the purchase and installation of this new equipment. If approved, Rightway Fasteners will pay over $425,000 in new property taxes over the next decade. The abatement will save the company over $633,000 in property taxes over the same period.

The investment is expected to retain 410 jobs and create nine new ones.

Council meets Tuesday, Jan. 21 at 6 p.m. at the former J. Nicole store inside of Fair Oaks Mall. You are invited.