2018-01-12 / Business

City Snippets

State short on family friendliness

Personal financial website has ranked South Carolina 44th in the national on key indicators of family friendliness that include median family salary to housing affordability to unemployment rate. The complete report is available at wallethub.com/edu/best-states-to-raise-a-family/31065/.

Westinghouse agrees to be sold

Westinghouse Electric Company, the contractor in the abandoned V.C. Summer nuclear project, has agreed to be acquired by Brookfield Business Partners L.P. for approximately $4.6 billion. The acquisition, subject to bankruptcy court and regulatory approval, is expected to close in the third quarter of 2018.

Governor offering tax relief

Gov. Henry McMaster wants to exempt the military, law enforcement, firefighter, and peace officer retirement from state income tax. The tax cuts would amount to about a $524 in savings for military retirees under 65 and $210 a year for those 65 and older. Savings for law enforcement, firefighters, and peace officers would be about $713 a year if under 65 and $102 a year if 65 or older.

Tidewater Boats expanding plant

Tidewater Boats is investing $8.3 million in its Lexington plant at 1 Brickyard Road, a move expected to create 100 jobs.

Lexington pub opening in February

O’Hara’s Public House, a hometown Irish pub, says it is aiming to open in February at 131 E. Main Street in Lexington. The pub will serve authentic Irish beers and food, including fish and chips, bangers and mash (sausage and mashed potatoes), and lots of Irish beers on tap.

State law may affect SCANA sale

CEO Tom Farrell of Dominion Energy, which is in talks to buy SCANA, says the purchase hinges on keeping parts of the South Carolina’s Base Load Review Act which allowed SCANA to charge customers up front for the cost of building the defunct V.C. Summer nuclear plant.

Execs denied “golden parachutes”

Directors of SCANA Corp. have decided not to award severance packages to former chief executive Kevin Marsh and operations chief Steve Byrne who stepped down last month after abandoning work on the failed V.C. Summer Nuclear Station nor th of Columbia. Those packages could have been worth tens of millions of dollars.

Jasper solar plan now online

Dominion Energy’s 71.4-megawatt Solvay Solar Energy facility in Jasper County entered service at the end of 2017, bringing the company’s total addition of clean energy to South Carolina’s electric grid to 81 megawatts.

Offshore drilling plan to advance

The Trump administration announced a plan that opens up offshore drilling in South Carolina along with nearly all other offshore waters of the U.S. Drilling off the shore of South Carolina was closed by the Obama administration. Legal battles are expected.

Magazine ranks state tops

South Carolina has been named Business Facilities magazine’s 2017 state of the year. The magazine, which has targeted corporate site selectors and economic development professionals for more than 50 years, cited Samsung’s new $380 million Newberry County plant, along with BMW and Volvo expansions that “catapult South Carolina into the top tier of U.S. automotive manufacturing hubs.”

BMW building training center

BMW of North America plans to open its $12 million second training center in Spartanburg County by the end of this year. The center, to be built near the company’s manufacturing plant, is part of BMW Group University, and will train technicians, service personnel, and client advisers.

Charleston airport traffic up 6.6 percent

Charleston International Airport had seen more than 3.6 million passengers in 2017 as of November, up 6.6 percent year over year. The year-to-date November tally brings the airport near a record 4 million passengers.

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