COLUMBIA, S.C., June 24, 2013 /PRNewswire-USNewswire/ -- Carolinas AGC (CAGC) applauds South Carolina Governor Nikki Haley for signing into law today legislation that invests nearly $600 million in the state's infrastructure. The package includes $50 million in recurring funds allocated to the State Infrastructure Bank (SIB) to be bonded for $500 million. The package also includes $50 million in one-time funds to be used for bridge repair, and moves half of the sales tax on automobiles to the Highway Fund on a recurring basis, generating approximately $41 million annually.
Mike Brenan, chairman of the South Carolina Chamber of Commerce and president of BB&T South Carolina, said, "For many years, the business community has been united on the need for significant investment in our state's infrastructure, which will make a positive impact on economic development and job creation."
Mikee Johnson, president and CEO of Cox Industries and South Carolina Chamber chair-elect, remarked, "Like thousands of other businesses, Cox Industries utilizes the state's infrastructure on a daily basis, carrying products to and from the port and using our interstates and secondary road system. It is imperative that we have a reliable and safe infrastructure system so that commerce can easily flow throughout the state."
South Carolina has not seen a significant funding increase for roads and bridges since 1987. "This is a great start, it is a commitment to infrastructure and our state needs to celebrate that," said Gov. Haley. During the press conference, Gov. Haley also noted "the sign of a great economy is a state with lots of orange cones, and while this is not a perfect bill, it is a long time coming and it is what is needed for our state."
CAGC appreciates the hard work of Sens. Harvey Peeler, Larry Grooms, Hugh Leatherman, and Nikki Setzler, and Reps. Brian White, Phil Owens, Joe Daning and Robert Brown for shepherding this legislation through both bodies.
Carolinas AGC (CAGC) represents contractors and construction-related firms in North Carolina and South Carolina, and serves as a chapter of AGC of America and ARTBA. Through diverse partnerships, Carolinas AGC effectively innovates and shares knowledge across sectors and generations; advancing the construction industry to enhance the quality of life and deliver a sustainable difference in the Carolinas. Visit us at www.cagc.org. Watch us on YouTube. Follow us on Twitter.
For more information contact CAGC Director of SC Government Relations & Divisions Leslie Hope, 704/372-1450 ext. 5515.
For the Media: For information on Carolinas AGC and other industry related topics, visit http://www.cagc.org/news_events/formedia.cfm.
SOURCE Carolinas Associated General Contractors