COMMAND ECONOMIC PROJECT GOES “POP” FOR PALMETTO STATE
There will be no ebullient press releases … no “it’s a great day in South Carolina” quotes from self-styled “Jobs Governor” Nikki Haley.
Why not? South Carolina lost out on its bid to land 500 jobs from Sealed Air Corporation – the company that makes Bubble Wrap and Cryovac, among other packaging products.
But it’s worse than that …
Not only did the Palmetto State fail to land 500 new jobs, it’s losing at least 750 existing jobs in Greenville and Duncan, S.C. Sealed Air is opening its new global headquarters in Charlotte, North Carolina.
South Carolina and North Carolina competed hard for Sealed Air’s business – with both sides offering generous taxpayer-funded incentives.
According to sources familiar with the project, South Carolina’s incentives package was actually larger than North Carolina’s (no surprise there), but the company ended up going with the Tar Heel State because its workforce is, well, smarter.
In fact South Carolina crony capitalists admit as much, with Greenville’s top command economist telling the local paper Sealed Air officials found “a lot more depth in financial and IT talent in the Charlotte region.”
Again, no surprise there …
Another reason the South Carolina press isn’t talking about? North Carolina’s recent individual income tax cut – a major draw for corporate management teams.
“North Carolina’s business-friendly climate continues to attract corporate headquarters to the Charlotte region,” N.C. Gov. Pat McCrory said. “We welcome Sealed Air’s senior executive team, division and line managers and staff to the Queen City where they will find big city opportunity with a great quality of life.”
Obviously it would be hypocritical for this website to blast Haley too hard for “losing” an economic development deal … seeing as we repeatedly blast her for “winning” them. In fact depending how big the taxpayer-funded “bribe” to Sealed Air was, it may be a good thing our state lost out on that announcement – although this case is different because there’s really no way to put a positive spin on the 750 jobs that the state is losing .
Of course Haley should know all about that …
Anyway, S.C. Department of Commerce officials were not immediately available for comment regarding the Sealed Air announcement.