‘Angel’ Incentives Would Duplicate 3 State Programs

A bill that has moved another step closer to passing would have the state subsidize early-stage venture capital investing on top of three existing programs that do more or less the same thing.

Why the Michelin Man is Smiling in S.C.

The state and counties of Lexington and Anderson are doling out millions to Michelin North America for an $750 million expansion project that officials say will bring 500 jobs.

Data Center Incentives Bill Moves Forward

An S.C. House bill that originally provided additional taxpayer-backed incentives to national corporate headquarters locating in South Carolina has been retooled to extend certain tax breaks to attract large data centers, such as those operated by Google and Facebook.

BCB OKs $21 Million More for Clemson Wind Turbine Center

Clemson gets OK to boost budget for wind turbine test facility by $21 million.

Expanded Incentives Bill Bogs Down Over Service Providers

An amended S.C. House bill would extend a taxpayer-backed incentive to companies that use professional employer organizations.

The Difference Between Incentives and Private Investment – Disclosure

Imagine being an investment broker without the information necessary to keep clients apprised of how their assets are performing: no price-to-earnings data, no quarterly profit statements, no tax liability numbers. Doesn’t sound like a very promising career path as a financial adviser, does it?

Boeing Greased Its Landing in South Carolina

Even before Boeing announced plans to build in South Carolina, the aerospace company showed it knew how to play the political game.

Officials Still Mum on Boeing Incentives after Two-Plus Years

More than two years after the S.C. General Assembly approved the first chunk of a huge incentives package for Boeing, state taxpayers still don't know what exactly their investiment is or what they're getting for their money.

Tax Breaks for Wealthy ‘Angel’ Investors Set for Senate Hearing

New examples of investment capital available to startup South Carolina companies call into question an argument for state government to get more involved in the venture capital business.

Ex-Im Bank: Boeing, the Legislature and Corporate Welfare

The S.C. General Assembly has thrown its support behind a federal agency that free market advocates decry as a corporate welfare shop for politically connected mega-corporations.

Vendor-Preference Bill: Boost to S.C. Businesses, or Bust for S.C. Taxpayers?

South Carolina companies would have an easier time getting state contracts of more than $500,000 under an S.C. House bill, though some critics contend that taxpayers could wind up paying more if the proposal becomes law.

Sales-Tax Exemption Bill: Real Reform?

The latest S.C. House proposal to eliminate many state sales tax exemptions is a watered-down version of another House bill that has been stuck in committee, a review by The Nerve has found.

Solyndra in South Carolina?

A Senate Finance subcommittee enhanced the House version of a bill that would offer millions in tax credits to the solar industry.

Commerce Ads: Big Bang for Agency’s Budget?

South Carolina’s state-driven economic development efforts have received glowing reviews lately from some national trade publications. But is there something more to the accolades than just positive recognition?

Obscure New Agency Would Grow Under Restructuring Bill

A little-known state economic development agency created two years ago but not yet in operation would grow even more under the S.C. Senate’s version of a bill creating a Department of Administration.

Guv’s Office, Commerce Can’t Produce Job-Creation Records

Despite glowing job announcements over the past year, neither Gov. Nikki Haley nor the S.C. Department of Commerce can produce records showing the number of actual jobs created to date.

Boeing Not a ‘Public Body,’ Federal Judge Rules

Despite receiving hundreds of millions of dollars in taxpayer-backed incentives from South Carolina, aerospace giant Boeing is not a public body under the state’s whistleblower law, a federal judge has ruled.

Japan Trips, Other Taxpayer-Funded Freebies Offered to Bridgestone

Bridgestone Americas has been offered at least $57 million in incentives over 10 years to add a new plant and expand its existing plant at its Aiken County site.

End of the Road for I-95 Corridor Authority?

A legislative showdown is brewing over an S.C. Senate bill that would create another state agency whose purported goal is to improve economic conditions in historically poor, rural counties along Interstate 95.

Legislators Exempt Themselves from Sunshine Law They Created

The state's open-records law for more than 30 years has shielded the S.C. General Assembly from releasing documents showing what it does behind the scenes.

Proposed S.C. Electric Car Plant Short Circuits, Despite Handout Offers

A South Korean car manufacturer never came to South Carolina, despite being offered state and local incentives.

$270M Taxpayer-Funded Gift to Boeing Properly Spent, Commerce Chief Says

Aerospace giant Boeing properly spent $270 million in S.C. taxpayer-backed bond proceeds given to the Chicago-based company for its North Charleston assembly plant, state Commerce Secretary Bobby Hitt said in a letter obtained Thursday by The Nerve.

The Boeing Incentives Deal: More Secrecy, Lack of Accountability

The Boeing Co. isn't required by the state to verify that the $270 million in taxpayer-backed bonds it received for its North Charleston plant was properly spent.

Charleston Doles Out Incentives to Two Manufacturers

The Charleston County Council Finance Committee on approved two recommendations by the Economic Development Department on Sept. 22 to support investments in manufacturing facilities in the county.

Extended Stay’s Not-So-Extended Stay in S.C.

A hotel chain headquartered in the Upstate moved its headquarters out of state, despite receiving millions in state incentives.

Still No Sign of $460M Incentive-Backed AQT Solar

More than eight months after a small, young California company announced it would locate a $460 million solar-cell manufacturing plant in Richland County, creating a purported 1,000 jobs over four years, the massive building it’s supposed to go in remains empty.

The $29M ‘Invisible’ State Agency

On paper, the recently created S.C. Rural Infrastructure Authority will have at least $28.8 million in available revenues this fiscal year, though nothing has been spent yet, a state Budget and Control Board spokeswoman told The Nerve last week.

Haley Staffers, Senator, Commerce Flack Attend Air Show

A large South Carolina delegation to the Paris Air Show in June included two mid-level employees in Gov. Nikki Haley’s office, the then-spokeswoman for the S.C. Department of Commerce and state Sen. Hugh Leatherman, according to documents obtained from Haley’s office.

State Officials Mum on Costs Involved with Paris Air Show

State officials have been silent on the total costs of the Paris Air Show.

Paper Trail Scarce Regarding SCRA Chair Selection

While the S.C. Research Authority may cloak itself in an air of mystery, there’s little doubt that state leaders have attached significant importance to the agency’s role in developing the state’s “knowledge economy.”

Boeing Bonds Illegal in South Carolina?

S.C. Treasurer Curtis Loftis might have unwittingly opened a debate about whether the sale of $270 million in state bonds to help aerospace giant Boeing build an aircraft assembly plant in North Charleston violated the S.C. Constitution.

Political Turbulence Over Aviation Center?

Expensive Taxpayer Gift Offered to Boeing

Boeing Seeks Early Christmas Gift From S.C.

TRAC Lets Boeing Keep Tax Breaks

Firms’ Decisions Show Incentives Not Necessary

Boeing Bonds to Cost Taxpayers $362 Million

More Government Hands in S.C. Economy

A 15-member committee controlled by the Legislature would dole out taxpayer money to promote economic development in 17 counties in the Lowcountry and Pee Dee under a state Senate bill.

Proterra Deal to Cost Tens of Millions to Taxpayers

South Carolina and Greenville County taxpayers won’t be getting any magic carpet rides with the construction of the Proterra electric- and hybrid-powered bus assembly plant in Greenville.

Airline Subsidies: Unfriendly Skies for Taxpayers

Commerce Eyes Control of Research Program

The initial version of the 50-page "Economic Development Competitiveness Act" bill, introduced in January by S.C. House Speaker Bobby Harrell, gave the Commerce secretary control over one-third, or $10 million, of the annual $30 million in lottery money earmarked for the S.C. Centers of Economic Excellence, also known as the endowed professor chairs program.

SC Entities Dish Out Dollars in Boeing Tribute

Boeing to Get Another Taxpayer-Funded Gift

Incentives Finalized in Boeing Sweetheart Deal

Job Development Credits: Taxpayer-Funded Payouts

Anatomy of an Incentives Deal

Boeing Numbers Game: Studies Don't Match Up

Failed Companies: Money Down the Drain

Secrecy Shrouds Boeing and Other Deals

No. That’s often the favorite word of state and local government officials when asked to reveal details of taxpayer-funded incentives given to businesses.

Boeing’s 'A' Team: Turned to Power Brokers

Boeing relied on some Palmetto State powerbrokers to negotiate for a state incentives package valued at hundreds of millions of dollars.

New Boeing Jobs: Hype and Hope

Boeing workers share their views on one of the biggest-announced industrial projects in state history.

The Okatie-Boeing Connection

Panel Approves Another $100 Million for Boeing

A legislative panel this morning gave another $100 million taxpayer-funded gift to the Boeing Co., bringing the total state bond package for a new assembly plant in North Charleston to at least $270 million.

Okatie Developer No Stranger to Controversy

Many South Carolinians may not recognize the name of the man associated with the controversial Okatie Crossings development project, but don’t underestimate his influence – or ability to generate controversy.

Part 3: The Truth on Senate Claims About Boeing

Many of the claims by Senate leaders about the Boeing incentives deal were misleading.

Boeing Bond Deal: A $400 Million Taxpayer Tab

For the next 15 years, South Carolina taxpayers will be paying back nearly $400 million in bonds, including interest, for the new Boeing assembly plant in North Charleston.

Part 2: The Boeing Deal: Big Bill To Taxpayers

What S.C. lawmakers didn’t reveal in October 2009 when they rushed through an economic incentives package for Boeing was that it will cost state taxpayers tens of millions of dollars – and possibly several hundred million – more than what was said in the official record.

Part 1: Inside the Boeing Deal

An incentives package for the Boeing plant in North Charleston was done largely behind closed doors and will cost taxpayers hundreds of millions of dollars.