Tag Archives: Volvo

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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Big bills heading to Santee Cooper, co-op customers with ecodevo spending?

June 3, 2019

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By RICK BRUNDRETT As Santee Cooper was accumulating billions in debt for the failed V.C. Summer nuclear project, the state-owned utility was doling out millions that benefited major corporations, local governments and economic development groups, utility records reviewed by The Nerve show. From August 2010 to April 2018, a total of at least $121 million […]

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