South Carolina House approves $1.3 billion package for new electric SUV plant
The South Carolina House on Thursday approved a $1.3 billion package to help attract a new electric vehicle plant backed by the Volkswagen Group to a site near Columbia.
The plan would borrow nothing, instead paying the entire amount through surpluses the state has managed to save over the past few years as the COVID-19 pandemic didn’t hurt the amount of tax revenue South Carolina collects as much as feared.
Scout Motors Inc. and South Carolina officials announced plans Monday to start building new Scout vehicles, powered this time by electricity, for the first time since 1980. They hope to hire 4,000 workers for its $2 billion plant.
They are reviving the name and style of the original Scout SUVs made by International Harvester in the 1970s and 1980s.
After one more routine vote, the proposal will go to the Senate. Members approved the package on a 96-12 vote Thursday.
The state’s $1.3 billion will build a new exchange on Interstate 77 and a railroad bridge over the highway for the plant.
The state is giving Scout a $200 million loan to stabilize the soil at the site and a $400 million grant for the company to use how it wishes during construction.