The ranking Republican lawmaker in North Carolina led a successful opposition to an exceedingly generous incentives deal for Continental Tire – saying the proposal demanded by the company was “not in the best interest” of Tar Heel taxpayers.
In addition to refusing to authorize an up-front construction loan in the amount of $45 million, N.C. Senate President Pro Tempore Phil Berger also accused the German-based company of negotiating in bad faith.
As FITS reported exclusively last week, Continental selected Sumter, S.C. as the location for a $500 million manufacturing facility that will create an estimated 1,700 jobs over the course of the coming decade.
That announcement was made official on Thursday – although the administration of S.C. Gov. Nikki Haley did not disclose whether its incentive package included the controversial $45 million loan.
Haley’s Commerce Department only disclosed $35 million in property-related incentives. The agency did not disclose construction-related grants, job development tax credits or the extent of sales or property tax relief that will be granted to the company.
We referenced some of Berger’s concerns in our latest report on the announcement, but you can read all of the state’s “Project Soccer” documents by clicking on the link below.