Gov. Sanford signs bill to boost economic competitiveness

Columbia, SC - COLUMBIA, SC (WMBF) – Governor Mark Sanford signed a bill on Wednesday that aims at attracting jobs and investors to South Carolina.

Sanford, along with Speaker of the House Bobby Harrell, Commerce Secretary Joe Taylor and other economic development advocates are aiming to enhance the state's ability to attract jobs, investment and compete in an increasingly global marketplace by signed the bill.

The bill takes steps including reforming the Endowed Chairs program to help shift its focus to job creation and allow private sector investment to lead public sector investment, making the state's credits based purely on economic criteria and providing relief to manufacturing property taxpayers, who currently pay the highest rate in the nation.

"This bill is a significant step in the right direction," Sanford said. "For the last seven and a half years this administration has sought to move the state away from what has been a 'government knows best' model of economic development, whereby government is unwisely expected to lead the way in attracting, or indeed generating, private investment."

This legislation comes after an increased number of economic developments in South Carolina. Over the last several months there have been five 1,000-plus jobs announcements, and last year South Carolina led the entire Southeast in job recruitment.

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