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Why SC keeps economic investments anonymous

South Carolina secured $10 billion in capital investments in 2022, which will create 13,000 jobs.

COLUMBIA, S.C. — With code names like Project Gemini and Project Samurai, dozens of companies negotiated economic development deals with South Carolina without divulging their identities to the public. 

It's a negotiating method many county and state offices use to land economic development opportunities without compromising the deal that's being worked. 

Residents like Joyce Fredrick aren't happy about the secrecy.

"I think residents should know what companies are coming in," Fredrick said. "It could be a chemical plant, it could affect people’s immune system who are working there."

Richland County Council recently approved project Golden Eagle, an $800 million investment that will create 1,800 jobs.

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However, the project is being kept anonymous by the state until the deal is finalized. 

"The public has a right to know at least the critical information for them to be able to weigh in in a public hearing and, in this case, they simply do not," said South Carolina Policy Council Director Dallas Woodhouse. 

According to the South Carolina Governor's Office, the state secured $10 billion in capital investments in 2022 which will create 13,000 jobs. 

The South Carolina Department of Commerce and some other business leaders argue privacy is necessary for competitive reasons when making these deals.

"These large deals take years, some of 'em. And over those times, the economic conditions change so the industry has a change in his plans," Columbia City Council Member Howard Duvall said. "Maybe they don't come. Maybe they want to come faster."

Duvall explained the deals often include "claw backs" to protect taxpayer dollars. "If the industry does not produce what it's supposed to produce, then local governments have an ability to go in and "claw back" some of the incentives," Duvall said. 

Ultimately, Fredrick said she's happy about more jobs coming to her community. "I hope it will be a good balance for everyone's needs that would be a good source of income for their homes."  

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