Gov. Sanford signs incentives bill

By Live 5 News Staff email | twitter

COLUMBIA, SC (WCSC) - Flanked by state and local elected officials and economic developers Friday, Gov. Mark Sanford signed H.3130, an economic incentives bill that helped pave the way for Boeing Company's Oct. 28 announcement.

Morale after Wednesday's announcement of a new 787 facility being built in North Charleston remained high as lawmakers watched Sanford sign the bill into law.

"As we said on Wednesday, Boeing's decision to land decisively in South Carolina is both a monumental shot in the arm to our state's economy and indeed a revolutionary boost to our already growing aerospace hub," said Sanford.

[Read the full story on the Boeing Dreamliner announcement.]

Sanford said he and the state's lawmakers believe the economic package and the Boeing deal will be the incentive to attract even more high-tech manufacturing firms to the state.

"All in all, this enormous commitment from Boeing represents not only a dividend from our state's continued efforts to better our business climate, but also a challenge to not let up with regard to lowering taxes, easing burdens put on business in our state's tort and workers' compensation systems, and keeping South Carolina a right-to-work state," the governor said.

The economic incentives package passed by the Legislature Wednesday and signed by the governor Friday offers significant tax cuts for a business willing to invest $750 million and create 3,800 jobs within a seven year timeframe.

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