Tag: Incentive Transparency
Updated on August 9, 2013 by South Carolina Policy Council
WHY TAXPAYERS DESERVE DETAILS – NOT VAGUE TALKING POINTS AND HIGHER TAXES On June 25th, the mayor of Columbia, Steve Benjamin, unveiled what’s being commonly called the “Bull Street Development Deal.” The deal would involve the city committing to an estimated $70 million for infrastructure, two parking garages, and a minor league baseball stadium. The estimated economic …
Updated on December 4, 2013 by South Carolina Policy Council
WHY THE RUSH TO PUT FUTURE TAXPAYERS 120,000,000 MORE DOLLARS INTO DEBT? The news broke this week that Boeing plans to expand its existing North Charleston campus to include an information technology “center of excellence.” The expansion, according to a company spokesman, will create 2,000 jobs. State lawmakers quickly announced plans to issue $120 million …
For years, the General Assembly has shut the door, cut deals with lobbyists and given away billions of dollars in incentives. Here’s what you can do about it.
It goes without saying our political leaders should treat public tax dollars with the same care and consideration they would their own finances. This maxim has never been more necessary when we consider the state’s recent experiment with government-driven economic development. As illustrated by the Boeing incentives package, there is little transparency regarding the financial details of these agreements, as well as the process by which lawmakers approve such incentives.
Imagine a business plan based on overly optimistic results, an underreporting of costs and a desire to conceal essential data from key stakeholders. If the result does not sound promising, then it should come as no surprise that the state’s long experiment with economic incentive deals is failing. Consider the following: Read more…
Tag: Incentive Transparency
The Bull Street Deal: Extreme Caution Advised
Updated on August 9, 2013 by South Carolina Policy Council
WHY TAXPAYERS DESERVE DETAILS – NOT VAGUE TALKING POINTS AND HIGHER TAXES On June 25th, the mayor of Columbia, Steve Benjamin, unveiled what’s being commonly called the “Bull Street Development Deal.” The deal would involve the city committing to an estimated $70 million for infrastructure, two parking garages, and a minor league baseball stadium. The estimated economic …
Category: Commentary, Economic Development, Transparency Tags: Economic Incentives, Incentive Deals, Incentive Transparency
Boeing Bond Deal Needs Explanation
Updated on December 4, 2013 by South Carolina Policy Council
WHY THE RUSH TO PUT FUTURE TAXPAYERS 120,000,000 MORE DOLLARS INTO DEBT? The news broke this week that Boeing plans to expand its existing North Charleston campus to include an information technology “center of excellence.” The expansion, according to a company spokesman, will create 2,000 jobs. State lawmakers quickly announced plans to issue $120 million …
Category: Commentary, Economic Development, Transparency Tags: 8 point reform agenda, Economic Incentives, Incentive Deals, Incentive Transparency, Tax Favors
Opening closed doors: Bringing sunlight and fairness to state-driven economic development
Updated on April 25, 2019 by South Carolina Policy Council
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For years, the General Assembly has shut the door, cut deals with lobbyists and given away billions of dollars in incentives. Here’s what you can do about it.
Category: Self Governance, Transparency Tags: Incentive Transparency
Three Steps Toward Transparency: Protecting Taxpayer Investments in South Carolina’s Economy
Updated on April 25, 2019 by South Carolina Policy Council
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It goes without saying our political leaders should treat public tax dollars with the same care and consideration they would their own finances. This maxim has never been more necessary when we consider the state’s recent experiment with government-driven economic development. As illustrated by the Boeing incentives package, there is little transparency regarding the financial details of these agreements, as well as the process by which lawmakers approve such incentives.
Category: Transparency Tags: Economic Incentives, Incentive Deals, Incentive Transparency
Economic Incentives Could Cost Taxpayers for Years to Come
Updated on January 20, 2017 by South Carolina Policy Council
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Imagine a business plan based on overly optimistic results, an underreporting of costs and a desire to conceal essential data from key stakeholders. If the result does not sound promising, then it should come as no surprise that the state’s long experiment with economic incentive deals is failing. Consider the following: Read more…
Category: Commentary, Research Tags: Incentive Deals, Incentive Transparency