North Charleston approves Boeing tax break

NORTH CHARLESTON, S.C. — North Charleston has approved a corporate tax break for the biggest companies in town, including Boeing.

The Post and Courier of Charleston reported the city council on Thursday cut the rate used to calculate annual fees for companies earning $250 million or more. There are only four such companies in the city.

The city also created a new top rate tailored for Boeing that is 99 percent less than the current levy.

The newspaper reports that, essentially, the deal was created so Boeing pays no more than about $1 million in yearly fees to North Charleston as aircraft production increases.

More in Herald Business Journal

Snohomish County’s campaign to land the 797 takes off

Executive Dave Somers announced the formation of a task force to urge Boeing to build the plane here.

A decade after the recession, pain and fear linger

No matter how good things are now, it’s impossible to forget how the collapse affected people.

Under cloud of ethics probes, Airbus CEO Enders to step down

He leaves in 2019 after 14 years. Meanwhile, aircraft division CEO Fabrice Bregier leaves in February.

For modern women, 98-year-old rejection letters still sting

In a stark new video, female Boeing engineers break the silence about past inopportunity.

Drone’s ease piercing of NY ‘no-fly’ zone underscores risks

An Army Black Hawk helicopter suffered damage to one of its rotor blades, but was able to land safely.

Tax reform needs the public’s input on spending priorities

The GOP tax plan is a good idea, but the next step should give us a voice on how taxes are spent.

Commentary: GM, Boeing fight a war of words over Mars

Boeing is strongly signaling how crucial deep-space exploration is to its future.

SpaceX 1st: Recycled rocket soars with recycled capsule

It was NASA’s first use of a reused Falcon rocket and the second of a previously flown Dragon capsule.

US prosecutors move to cash in on $8.5M in seized bitcoin

The bitcoin cache was worth less than $500,000 when a suspect was arrested on drug charges.

Most Read