S.C. commerce department doles out corporate welfare in secret meeting

By   /   April 5, 2013  /   No Comments

By Ron Aiken | The Nerve

In the blink of an eye Thursday on a conference call behind closed doors in the South Carolina Department of Commerce’s 16th-floor office, up to $8 million in taxpayer-backed incentives were doled out to some of the state’s largest corporations with no members of the public and only The Nerve present.

The money came in the form of port tax credits, which are income tax credits available to manufacturers using South Carolina’s ports whose volume increased by a minimum of 5 percent over the previous calendar year.

State law caps the total amount of annual port tax credits at $8 million. No specific amounts were revealed for any of the projects approved Thursday.

Read more at The Nerve.

Click here to LEARN HOW TO STEAL OUR STUFF!

x

Join other concerned citizens who get the latest updates from Watchdog.org on government waste, fraud, or abuse.


Read stories like:

Enter your email and stay on top of the news that matters.