SC Senate Approves $120M In Incentives For Boeing
COLUMBIA, S.C. (AP) — State incentives for Boeing Co.'s expansion plans in North Charleston are clearly ready for takeoff.
The Senate voted 37-6 vote on Wednesday to approve $120 million for upfront expansion costs such as utilities and site preparation.
Approval of the bill borrowing the money comes a day after Boeing Co. announced it's investing another $1 billion and creating 2,000 new jobs over eight years. The manufacturing complex in North Charleston currently employs about 6,000.
The bonding bill requires another vote in the Senate before heading to the House. The same bill was introduced Tuesday on the House side.
Critics included Republican Sen. Kevin Bryant, who argued against further government borrowing, and Sen. Tom Davis, who has long fought government incentive packages for businesses.