When Volvo Cars agreed to invest $600 million to build an automotive campus and create 4,000 jobs in Berkeley County, the state rolled out the red carpet, promising millions of dollars’ worth of infrastructure, office space and other perks.
Such state-funded incentives are typical for manufacturers, and they appear to work. Boeing 787 Dreamliners are built in North Charleston, and by the end of the decade, Volvo’s new S60 sedans and Mercedes-Benz’ Sprinter vans will both be built from start to finish in the Lowcountry.
Those companies create jobs, expand the supplier base and buoy the economy.
But when tech companies open offices and create jobs in South Carolina, or when a startup founder relocates from San Francisco to Charleston, for example, a massive incentives package is not typically at the ready.