FINANCE COMMITTEE APPROVES BILL TO LURE WORLD’S LARGEST AIRCRAFT MANUFACTURER

The South Carolina Senate Tuesday used a special session meeting to give initial approval to an economic incentive package aimed at bringing the world’s largest aircraft manufacture to South Carolina.

The Senate finance committee passed a bill that offers low-interest construction bonds and other financial incentives including a sales tax exemption on fuel used in test flights to companies that bring at least 3,500 jobs to the state and invest $750 million here over the next seven years.

“We’ve got an opportunity before us now … to bring jobs to our people that are so desperately needed,” said committee chairman Hugh Leatherman (R-Florence).

Boeing is considering where to put a second production line for its new 787 Dreamliner. In June, the company dropped $580 million in cash to purchase a plant in North Charleston, but is also considering expanding its Everett, Wash. Dreamliner base, where the first line is located.

Beyond the possibility of the Senate’s incentives, the South Carolina plant has another major advantage: Its employees recently voted to disband their union, a major draw for Boeing. The Machinists union at the Washington plant have said they would not agree to a 10-year no-strike deal.

The bill next heads to the full body and could be approved before the special session adjourns this week.