Less Government, Not More Incentives, Will Boost South Carolina's Economy
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Friday, 19 September 2008 18:49 |
In a Senate film incentive panel meeting September 12, Chairman Yancey McGill (D-Williamsburg) argued that South Carolina should establish ways to successfully recruit film companies to South Carolina. The industry has said that incentives need to be long term and not subject to lawmakers? whims, otherwise it will not be profitable for film companies to come into the state, especially for long term projects such as a TV series.
If South Carolina had lower taxes and was therefore more business friendly, then incentives would not be needed. Real economic growth would take place naturally as companies gravitated towards the low taxes and less government that allows industry to succeed. Neighboring Southeastern states experience positive economic growth due to less government, as shown by national accounts data from the Bureau of Economic Analysis at the U.S.
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