Envision AESC, a world-leading Japanese electric vehicle battery technology company, along with Governor Henry McMaster, announced it will build a state-of-the-art battery cell gigafactory in Florence County.
The new battery plant builds on AESC's existing United States network that includes a battery manufacturing plant in Tennessee and a plant under construction in Kentucky.
The Coordinating Council for Economic Development awarded a $135 million Closing Fund grant to Florence County to assist with costs related to the project, and the state authorized the issuance of up to $70 million in state general economic development bonds to offset the costs of off-site infrastructure and a training center to support the project.
The Scout motor project was expedited through our state house with little debate, while offering huge tax incentives.
The level of incentives offered; $25 million to build a publicly owned Midlands Technical College training center for employment with Scout Motors; and $16 million for property acquisition for construction of the railroad spur to the site) and promises made, seems to be a large gamble of taxpayer dollars, given the current state of the overall EV market.
States across the country compete for business by offering tax incentives; that is the cost of doing business.
The total amount committed to the Scout & AESC deals are substantial with regard to state funds allocated for business development.
https://palmettostatewatch.com/asian-influence-foreign-ev-corporation-floods-florence-county/
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