Tag Archives: incentives

Politicians’ promises don’t reflect written incentives deals

July 8, 2020

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By RICK BRUNDRETT       S.C. politicians routinely love to make promises about massive corporate investment and multitudes of new jobs in the Palmetto State. But the secretly crafted written agreements offering taxpayer-backed incentives in exchange for those promised jobs and investment often don’t live up to the official hype. Last month, The Nerve detailed how for […]

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Truths about secret incentives deals revealed – 10 years later

June 24, 2020

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By RICK BRUNDRETT All we wanted was the truth. Over the past several decades, South Carolina legislators and governors, as well as local governments, collectively have given away billions in incentives to countless corporations. Cash, land, tax breaks and free job training have been thrown at companies in exchange for the promise of jobs. Taxpayers […]

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Tourism advertising funds, manufacturer incentives sought in covid’s wake

June 5, 2020

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By RICK BRUNDRETT Spending more tax dollars on tourism advertising and incentives for manufacturers are among proposals to jump-start South Carolina’s economy, which took a severe blow with government-imposed shutdowns following the coronavirus outbreak. The recommendation for increased tourism advertising is contained in a final report released last week by “accelerateSC,” an advisory committee created […]

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Key details in Volvo cost-benefit analyses kept secret by S.C. Commerce

July 12, 2019

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By RICK BRUNDRETT More than four years after officials announced that Volvo would locate in South Carolina, the state Department of Commerce won’t reveal the estimated amounts of certain public costs and benefits identified in analyses of the $1.1 billion project. The Nerve reported last month, based on Commerce records obtained under the state open-records […]

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Taxpayer tab for Volvo deal far bigger than public pronouncements

June 29, 2019

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By RICK BRUNDRETT When S.C. officials announced in 2015 that Volvo would locate its first U.S. plant in rural Berkeley County, the total incentives offered to the Swedish car maker were pegged at about $200 million. An investigation by The Nerve, however, found more than $250 million in incentives spent or offered so far by […]

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Subsidies for Carolina Panthers: A losing game for S.C. taxpayers?

May 15, 2019

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By RICK BRUNDRETT At the end of the 2014 regular legislative session, lawmakers slipped in a budget proviso funneling $75,000 through the state tourism agency for the Carolina Panthers’ summer training camp at Wofford College in Spartanburg. Then-Gov. Nikki Haley vetoed the proviso, writing in her June 11, 2014, veto message, “The National Football League […]

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Secrecy surrounds incentives info for Amazon HQ2 search, other S.C. projects

November 30, 2018

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By RICK BRUNDRETT The S.C. Department of Commerce says it didn’t formally offer any taxpayer-backed incentives to lure Amazon’s second national headquarters to the Palmetto State, but instead provided general incentives information to counties if any of them wanted to compete for the project. Commerce spokeswoman Adrienne Fairwell told The Nerve on Tuesday she didn’t […]

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State gives away millions to companies that don’t hit job creation targets

September 20, 2018

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Payoff

By RICK BRUNDRETT Since 2015,14 companies that committed to locating or expanding in South Carolina collectively repaid nearly $7 million in state grants after failing to meet job creation or investment requirements, records show. Four of the companies closed plants in counties that received the grants, and another project never materialized, a review by The […]

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Records: Officials sharply lowered job, investment targets for troubled Element TV

August 17, 2018

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By RICK BRUNDRETT Element TV, which announced last week it will close its television assembly plant in Fairfield County, had to create far fewer jobs than originally promised under a $1.3 million state grant, records obtained this week by The Nerve show. The Minnesota-based company hadn’t maintained even the reduced job target as of last […]

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Element TV plant closure: Taxpayer money down the drain?

August 13, 2018

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By RICK BRUNDRETT Plenty of buzz surrounded Element Electronics’ announcement five years ago that it would open a television assembly plant in Fairfield County, with then-Gov. Nikki Haley joining company officials in a live webcast from a Walmart-sponsored conference in Florida. But little information was publicly released then about the taxpayer costs of the planned […]

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