COLUMBIA, SC-The South Carolina House of Representatives agreed to provide Boeing with $120 million in incentives that will prompt the aerospace giant to expand its manufacturing operations in North Charleston and hire 2,000 new workers.
The measure to borrow the $120 million for Boeing passed by an overwhelming 115-2 margin. The funding will allow Boeing to buy 320 acres and prepare the land for construction. The 2,000 new jobs will bring its total employment to 10,000 workers in North Charleston where the firm manufactures aft-bodies of 787s, according to the Charlotte Observer.
Boeing officials say the firm plans to spend an additional $1 billion with the expansion.
House Speaker Bobby Harrell said the incentive the state will be providing Boeing approximately 10% of what the aerospace firm will be spending on its expansion program. “We always prefer not to have debt, but sometimes you have to do that to make good things happen,” he said. See story in the Charlotte Observer.
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