Excitement reigns as Sanford signs Boeing incentive

Boeing’s planned commitment in the region — an investment of $750 million and the creation of thousands of jobs — has stolen the record as the largest economic development deal in state history.

By Molly Parker
mparker@scbiznews.com
Published Oct. 30, 2009

Political leaders who are often at odds appeared to be the best of friends this morning as Gov. Mark Sanford signed an incentive package worth millions of dollars for Boeing Co.

“Everyone came together on this one,” Sanford said at a ceremonial signing at the Charleston Regional Development Alliance’s headquarters in North Charleston.

If the legislative leaders and economic development officials who stood behind Sanford were any more enthusiastic, they might have popped.

Bigger than BMW.

Bigger than Google.

So big, in fact, that jaws remain stuck in the dropped position.

“I got up this morning and pinched myself to see if it was really real,” said Hugh Leatherman, the Republican senator from Florence who has been named the key power broker in this deal.

Leatherman, who is chairman of the Senate Finance Committee, brushed off the notion that he might well be the most powerful man in state government.

“I’m just one member of the South Carolina Legislature,” he said.

Senate President Pro Tempore Glenn McConnell called the General Assembly’s quick passage of the incentive package on Wednesday a “historic day.” He acknowledged that political relationships are often intense — a difference in opinions and personalities has been known to bring the legislative process to a screeching halt. But a deal as big as Boeing bridged the divide.

“We are flexible enough to move when we have to move,” McConnell said.

Sanford, asked whether this deal might reshape his tattered image, said he wasn’t worried about his long-term legacy.

“That’s missing the broader point of outcome,” said the governor, whose extramarital affair with an Argentine woman has been about the only thing for which South Carolina has been making national headlines — that is, until Boeing swooped in.

Commerce Secretary Joe Taylor said Boeing will have a huge spin-off impact across the state as suppliers move to town. He also suspects other corporate CEOs will take a closer look at the region that managed to lure the only U.S.-headquartered, wide-bodied airplane manufacturer.

The impact will show up immediately, Taylor said. Boeing is expected to break ground next month, and the construction project could mean hundreds of new jobs.

Another side effect of the deal, Taylor said, is the collective spirit that has been lifted from the recessionary blues. “I bet the real estate market in Charleston got a jolt.”

Reach Molly Parker at 843-849-3144.