“OFFICE OF INNOVATION” UNDER FIRE OVER FAILURE OF $5 MILLION GRANT PROGRAM
A government program intended to “further innovation, entrepreneurship and technology-based economic development” in South Carolina is facing scrutiny from state lawmakers who provide funding to its parent agency – the S.C. Department of Commerce.
The program – administered under the auspices of Commerce’s “Office of Innovation” – doled out $2.4 million in “Innovation Challenge” grants in May of 2014 (here) and another $2.6 million last February (here).
Obviously all this largesse is on top of the tens of millions the agency doles out to select corporations via its “governor’s closing fund” – and the hundreds of millions awarded to international behemoths like Boeing.
(Who later threaten to pull their jobs if they don’t get their way).
Do these investments pay off?
Sometimes. But often not … but even when the state picks “winners,” taxpayers have to pay up. Or borrow big.
Anyway, a cursory review of the thirty-three “Office of Innovation” grants reveals the names of many local governments – and several local chambers of commerce.
Very few grants actually went to small businesses … in fact it appears as though the entire program was designed to achieve its “innovative, entrepreneurial and economically developing” effects completely independent of the private sector.
Still, Commerce has been singing the program’s praises – even as it became obvious to agency officials that the program’s $5 million appropriation wasn’t achieving its desired effect (shocker).
“(Office of Innovation) projects are outcomes-oriented, and focus on building stronger entrepreneurs and companies, growing startup communities, training technology talent and providing education and access to funding for startups in both rural and urban areas of the state,” the most recent release stated.
Critics disagree …
One insider tells us the program is “about to blow up” due to the fact that “virtually all of the money has been pissed away.”
“The amount of (sketchiness) and people who formed non-profit shells just to apply and suck in $250,000 grants for ‘innovation’ is staggering,” our source said. “Wonder why they didn’t renew the program after initially planning to make it an annual thing? (Because) they realized the incredibly inept and backwards people and plans they funded.”
Now state lawmakers have started asking questions … seeking an itemization of the funds expended on the program and internal documents related to the metrics used to gauge the success or failure of the investments.
All, ironically, because the agency reportedly decided to pull the plug …
“I don’t know if anyone would have even blinked if they’d just re-upped it,” one GOP House member told us. “But they have raised a red flag now.”
We will continue to dig on this program in an effort to determine more about how this $5 million in taxpayer money was spent. In the meantime, we would reiterate our fundamental believe that government has absolutely no business being involved in “economic development.”
In fact we would argue on behalf of the elimination of the entire Commerce Department (not just this program) – and the defunding of any government grant that provides one business with an unfair competitive advantage over another.
64 comments
this article is soooooooooo gay
No, that was the Rubio article, this one is just confusing…
They want the money for “roads.”
?my .friend’s mate Is getting 98$. HOURLY. on the internet?….A few days ago new McLaren. F1 bought after earning 18,512$,,,this was my previous month’s paycheck ,and-a little over, 17k$ Last month ..3-5 h/r of work a days ..with extra open doors & weekly. paychecks.. it’s realy the easiest work I have ever Do.. I Joined This 7 months ago and now making over 87$, p/h.Learn. More right Here;b185????? http://GlobalSuperEmploymentVacanciesReportsSave/GetPaid/98$hourly…. .?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:?2:::::;b185……
“How gay is it?”
makes barnie frank look like john wayne
Great. Now I have the Match Game music playing over & over again in my head.
https://soundcloud.com/squirehogg/john-wayne-drunk-commencement-speech
Commerce is a black hole of taxpayer dollars. if the public knew they would be appalled. The lack of prudence is disgusting.
So…..No!! We’re not going to get an article on unemployment going to 4.9%.
4.9% unemployment is gay
Take it to Craig’s list.
M4M ISO Political Discussion on Unemployment Figures
well you know what the say about Craig? yep thats right he is gay, total falacionado.
I was gonna make a gay joke, but then I faggot it.
BTW: keep this avatar. Best ever.
Will do!
hah! got it on the second reading …..
squirt.com
How about the 665,000 jobs lost?
And how about people leaving the job market?
http://www.washingtonexaminer.com/what-jobs-bls-says-665000-job-losses/article/2582535
well we all know about the reporters there, log cabiners each and everyone, fits broke the news on them years ago
They were reporting the numbers released by Obama’s BLS, Bureau of Labor Statistics (bls.gov).
He used non seasonally adjusted numbers. There is always a post Christmas lay-off.
http://mediamatters.org/blog/2016/02/05/wash-examiner-misleadingly-claims-the-us-lost-6/208409
Subtract the last two numbers in this table and you get 666,000.
http://data.bls.gov/pdq/SurveyOutputServlet
That story is wrong the Household data shows 615,000 new jobs created, not lost. See the employed line of this link.
**150,544
– 149,929
= 615 in thousands.
http://www.bls.gov/news.release/empsit.a.htm
BT, to the rescue.
All the news except the headline was good news. Yes the 151,000 non-farm payroll from the Establishment data was the lowest since September, but everything from the Household data was improved.
http://www.bls.gov/news.release/empsit.a.htm
The unemployment rate fell by 0.1 to 4.9%. That is one month shy of an eight year low.
The Labor participation rate improved 0.1 to 62.7.
The Employment-Population Ratio improved 0.1 to 59.6. Their 615,000 new jobs according to the Household data.
The Labor force grew by 502,00, which means unemployment was reduced by 113,000.
Rocky, do you remember the, so called, 94 million not in the labor force? It has fallen in the last two months. 277,000 in December and an additional 41,000 in January.
Now I will return to the Establishment data.
http://www.bls.gov/news.release/empsit.b.htm
The work week increased by 0.1 hours to 34.6.
Hourly wages improved by $0.12 to $25.39 and weekly wages improved by $6.67 to $878.49. Over the year, average hourly earnings have risen by 2.5 percent.
Thanks BT. And have a very merry weekend. Think I’ll take the fam out for Italian tonight. LIttle chilly, and some nice soup would hit the spot.
Will sumbody tell me what the hell is the establishment i keep hearin about?
Good question. Your are obviously a very bright person to ask such an intelligent question. The Establishment is that group of people and organizations that gets everything done that is done. The ant-establishment is made up of those who don’t do anything except seek supplant the Establishment. The main criticism the anti-establishment has with the Establishment is that they themselves are not the Establishment. When the anti-establishment gains power, they become pro-establishment.
well i thank you for summin it up for me. from the sounds of it, id say you are one of the gitter-dunners, or in other words the Establishment. I think i’ll choose that side too. thank you bible thumper.
Nah! I get things done, but I’m not the Establishment. I just appreciate how good things are here in America compared to most everywhere else. It surprises me how well things are run with such incompetent leaders. If we had competent leaders, there is no telling how screwed up things might get. I’m a Peter Principal advocate.
damn – I got cross eyed reading that….
This article is doggerel.
“..One insider tells us the program is “about to blow up” due to the fact that “virtually all of the money has been pissed away.”..”
Makes sense, there is more of the Tax-payer’s money lost between the front and back doors of the House and Senate Chambers than a big horse can shit.
Commerce has done the same with every “grant” program they have ever administered. The Tobacco settlement money, the Resource Authority, Community Development, etc. All pork driven boondoggles. Millions upon millions blown up a goats ass. Haley has been directly involved in taking over programs and placing under Commerce, to be used strictly for political purposes.
There is much, much more here than reported; but, will never come to light because of the politics and need to hide the waste.
Yes, a truthful statement …..
Shifty, are you a mole inside the Commerce Department?
No. But my travels around SC over the years , some of which involved reviewing grants, donations, etc, enlightened me to ways the money gets to where the State wants it. Grant writing that “looks good” and “reads well” that would pass a federal review (at a glance) is almost an art unto itself. The funds pass down through several levels, or agencies, and each one has a “grant writer”. Not all programs are wasteful or ways to get someone’s kid fresh out of college a ‘starter job’. We all read and hear about the waste, but there are, and have been, many worthwhile programs.
Got it.
Worst part about low unemployment – traffic.
Why is a George Lucas impersonator at the podium with Nikki?
That must be an old photo, Nikki looks much thinner and has only one chin.
She hasn’t grown a chin in nine months. This past May at Volvo announcement … Same ties and dress. Haley is as hot as ever.
http://www.postandcourier.com/article/20150515/PC05/150519479
What is the big deal? They discover that $5,000,000 is being wasted and they cut it. That is good government. $29 billion was wasted on Google Glass. Remember Google Glass? $7 billion on New Coke.
You make the point against this BS! They fund one waste of money, then another, and another, after another!
Google & Coke didn’t lose other people’s money. We don’t pay taxes so bureaucrats can go gambling in Vegas.
If they aren’t allowed to fail occasionally, there won’t be any successes. Google and Coke are very successful companies. That success would not have been possible without allowing for some failure.
TRUTH fact-checked this FITS almost-story and found Commerce Department pros are competent and do work hard
And that the problem is the same Diamond Jim legislators who ripped patriots’ flag are STILL raking off the…lard !!!
the confederate flag is gay
I agree. the confederate flag is gay.
like Tiny Tim singing dixie gay?
no, like lindsey graham is straight gay. gay is gay.
truthbetole was obsessed with gay but thought he was the man of the hour
Turns out he was actually only “next” when picking up the soap in the shower !!!
stumpknocker and truthbetole joined their local ACORN chapter and soon it was opening doors
In no time at all they had SNAP and Section 8 and were giving YOUR money to whores !!!
whores? well now all whores aint bad lone ranger. i dont think you ever had yourself a good whore. you oughtta try a black whore. i thank all whores oughtta be treated fairly. what is snap and where is section 8? maybe you can get yourself a good whore and then figure out a way to take back our country while your at it.
Section 8 refers to a category of discharge from the United States military
which provided for the discharge of those deemed unfit for military service.
tiny tim singing nowhere man gay
https://www.youtube.com/watch?v=w5EcrraNTQo
https://burndownblog.wordpress.com/2010/05/03/the-gay-confederate-flag-or-burn-down-atlanta/
The confederate flag is NAMBLA gay!
I agree
why on earth would anyone think that the department of commerce should be investigated? since when did it become illegal for us to steal money? truthbetole, i think this is horseshit and they oughta know better. somebody’s head should roll for this. i have alotta friends down there and i don’t appreciate them being called out like this over a few pennies.
this is what you end up with when you elect a black president!
Dumbass, this is a state run program. The federal government is not involved, you racist imbecile.
Sooo, there’s not a cent of federal funds going through its accounts? Verrry interesting …..
Wrong! Remember Obama’s shovel ready projects! A huge boondoggle waste of money!