(Above Gov. Nikki Haley with a special edition assault rifle presented to her by PTR Industries}
A firm from New York state is reportedly looking at the possibility of buying PTR Industries, a deal that could save the company’s operations at Horry County’s Cool Springs Business Park.
PTR Industries was recruited to relocate from Connecticut to Horry County in 2013 by the Myrtle Beach Regional Development Corporation. This was touted as a major coup by MBREDC as Horry County was a successful bidder over several other states in landing PTR Industries.
A package that included an approximately $1 million upgrade of a county spec building at Cool Springs Business Park and incentive based job creation credits was put together by MBREDC and the SC Department of Commerce for PTR Industries.
The company brought approximately 21 workers with it from Connecticut and promised to create an additional 145 jobs in Horry County within three years.
PTR Industries commenced operations in Horry County in January 2014 and hired approximately 28 additional employees in the first months of its operations.
However, it quickly fell behind in its rent payments to Horry County for the Cool Springs Business Park building that is its headquarters and manufacturing location. One week after a Grand Opening celebration, in July 2014, that included appearances by Gov. Nikki Haley and local Congressman Tom Rice, PTR Industries laid off some workers and instituted a 10% across the board pay cut to those remaining.
Since then, PTR Industries has struggled. According to several sources, Horry County Council restructured its rent deal with PTR Industries last fall in order to help the company become current.