Incentives hearing 'premature'

Charleston County officials have steadfastly refused to reveal details of the valuable incentives that will be given to Boeing as a reward for the company moving some operations to North Charleston, but the county nonetheless held a public hearing on the incentives Tuesday evening.

No one showed up to speak at the hearing, and County Council moved on to other business, but not before Councilman Paul Thurmond questioned the idea of holding a hearing on a subject that's been kept largely secret.

"I think this public hearing is premature," he said.

Charleston County, along with state government, is participating in an incentive package for Boeing worth an estimated $450 million.

The county has been discussing different types of tax incentives, and Council Chairman Teddie Pryor said the details of the incentive package have not yet been finalized. County Council has given two of the required three readings to incentive-related ordinances, but they are expected to be amended prior to adoption in January.

An early version of the incentive plan called for the county to provide $76 million in up-front bond financing to Boeing, but Pryor and other council members said the bond financing is no longer part of the plan, and the focus has shifted to other incentives.

"I hate to say it, but this is one of those things where people need to trust that we are doing what's best for the county," Pryor said after the meeting.

The Post and Courier's
Boeing Special Section.

He said Boeing will mean so much to the local economy that he doubts there would be opposition to any incentives.

"Even if we had (revealed the details), I don't think anyone would oppose it," he said. "This is huge."

Reach David Slade at 937-5552 or dslade@postandcourier.com.