Oct.4, 2013

3D Systems plans to invest $10.9 million to expand its research and production facilities in Rock Hill, reported Heraldonline. The expansion will create 133 jobs, and according to a proposed fee-in-lieu-of-tax agreement filed with York County, 3D Systems would complete the expansion by 2018. The average salary would be $35,000.

The agreement would set the company's tax rate at 6 percent. Typically, such agreements reduce a company's property tax bill by 43 percent for 30 years.

Seven years ago 3D Systems relocated its global headquarters from California to Rock Hill, South Carolina. The company is one of the fastest-growing technology firms, listed fourth on Forbes' list, fifth on Fortune's list.

3D Systems was founded in 1986. Chuck Hull, founder of 3D Systems, invented the original 3D printing technology, Stereolithography (SLA), and led the development of the .stl file format. After years of failed attempts Hull's perseverance and inventiveness paid off when he successfully printed a teacup on March 9, 1983, and went on to file a patent for what he called Stereolithography and found 3D Systems in 1986.

Today the company is worth $4 billion on the New York Stock Exchange, and its sales reach to $354 million annually. According to Mark Farris, York County's economic development director, the county has been negotiating with 3D Systems for a year regarding the planned expansion. The additional space would be used to manufacture 3D printers, Farris said.

 

 

Posted in 3D Printing Company

 

 

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