A bill racing through the South Carolina Legislature raises still more questions about precisely what our goal is with our state's expansive economic development efforts.
The answer used to be straightforward: We want plenty of good jobs for South Carolinians, so we can raise the standard of living for more people and make this a state our children and grandchildren will want to call home. Tax breaks, infrastructure and other tax-funded inducements seemed like a small price to pay when the result was more people with good and great jobs and fewer people who are unemployed and relying on the rest of us for food, medical care and housing or, worse, making a living as criminals. That’s why, for instance, it makes sense to offer more generous incentives to companies moving into areas with the highest unemployment and poverty rates.
Tax breaks, infrastructure and other tax-funded inducements seemed like a small price to pay when the result was more people with good and great jobs and fewer people who are unemployed and relying on the rest of us for food, medical care and housing or, worse, making a living as criminals.
How SC economic incentives can drive housing squeeze, highway congestion BY THE EDITORIAL STAFF Up until recently, the main problem with economic development was that state and local officials insisted on hiding the details of their giveaways from the public, often in defiance of state law.
Dorchester County needs to come clean on double-secret tax giveaway BY THE EDITORIAL STAFF During last week's Senate Finance Committee meeting, Sen. Sean Bennett raised the only critical question about H.4087, noting that every job a company gives to a North Carolina or Georgia resident to qualify for a tax break "Is one a similarly qualified South Carolinians doesn't have." He's right, but that did nothing to slow the bill.
Recruited companies do pay county, school and sometimes city property taxes, despite the more-than-generous property tax breaks that counties too often and too secretly hand out.
What if Dorchester County Google giveaway actually involved unsavory partner? BY THE EDITORIAL STAFF Another provision in H.4087 changes the special tax incentives for companies that locate their corporate headquarters in South Carolina.
Recruiters haven't had much luck luring headquarters here, so rather than figuring out why businesses don't want to locate their headquarters here - are our schools not good enough, our cities not vibrant enough, our transportation systems not convenient enough? - H.4087 lowers our standards for how many corporate jobs constitute a "Corporate headquarters" worthy of a tax break.
Commentary: Google's Berkeley County data center drives economic growth, lowers energy costs By Mike Fuller As with other expanded economic incentives, our concern isn't about the state picking winners and losers; although there are legitimate questions about that, it's something our entire tax code does.
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