COMPANY STILL USING PORT OF SAVANNAH
|| By FITSNEWS || Tokyo-based Bridgestone is one of several global tire manufacturers who have announced manufacturing facilities in South Carolina in recent years – lured by ginormous taxpayer-funded incentive packages.
Have those deals paid dividends for the Palmetto State’s economy?
Eh … South Carolina’s labor participation rate currently stands at 59.4 percent (well below the national rate of 62.6 percent, which itself is at four-decade lows). Also, our citizens continue to earn far less than their national peers.
So no, not really …
Anyway … in exchange for receiving massive government subsidies to locate its new off-road radial tire plant in Graniteville, S.C. (bringing 350 jobs to Aiken County), Bridgestone reportedly struck a deal with Palmetto State officials to shift all of their export business to the government-run Port of Charleston, S.C.
Bridgestone has historically used the Port of Savannah – which a few years ago received a huge competitive boost from S.C. governor Nikki Haley (part of the infamous “Savannah River Sellout“).
So … has the company made good on its word?
No, according to sources familiar with the ongoing dispute.
“They got $5 million with a promise to use the South Carolina port,” one source told us. “They refuse to even speak to them. They continue to use Savannah.”
Port sources tell FITS Bridgestone does do business in Charleston, but added “we are not exclusive” – noting Bridgestone still exports its larger tires out of Savannah.
Port officials are confident they will get more of Bridgestone’s business as they move forward with a proposed harbor deepening plan – which cleared a key regulatory hurdle in Washington, D.C. last month.
Good. Let’s hope so.
In addition to shelling out millions to companies like Bridgestone, South Carolina taxpayers are shelling out millions to enhance our port infrastructure – eschewing private investment in the process.
It would be shame to shell out all that money and watch business go to a competitor … although despite its initial tough talk, the Haley administration clearly has a soft spot for Georgia.
16 comments
Thank god for corporations who always act in their stock holder’s self-interest. We should put *them* in charge.
Corporations will always cheat. There’s never going to be a set of laws they can’t make money on by spending more than the ones they cheat.
Max, we are so close to agreement. Yet, you’re sarcastic and I’m serious. Bridgestone should use whatever port that serves their customers best. I guarantee that whichever port is cheapest, probably results in less carbon release into the environment. Georgia is not our enemy. Customers have two great ports to choose from. Many workers at Savannah are South Carolinians.
I’m sitting in my home looking around, my vehicles in the garage and can honestly say that Bridgestone and companies like them have done much more to improve my life than the government. 98% of the time if there is competition among companies, ports, states, whatever it’s good for consumers.
99 % of the time
——-
so that whole bailout thing was just a minor glitch… and all the toxic waste, scams, crappy Chinese lead-based toys, mad cow disease, GMO secret sauce, fracking… we’re just “a little bit fucked.”
You hear about that on the news, but I just counted 14 appliances within 25 feet of me and haven’t had any of those problems. My dog did not die from poison dog food. My drywall did not cause corrosion of my pipes or wiring. A couple of recalls because eight people died out of the 15,000 or so who die every year in car accidents. I calculated that at least 3 people died on the way to the dealership because of the recall. If the ancient Israelites saw how we lived, they would give up Jehovah and worship us.
excellent
Why be surprised by a kick in the face? This is what happens when Government picks winners and losers. That method of tax incentive is called a bribe.
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Promises were made to be broken I guess!
Anybody who buys a Firestone/Bridgestone tire is an idiot.
They are really Firestone tires. The most dangerous tires in the world. That have killed hundreds if not thousands of people with their defects since 1970s.
Therefore, Savannah and Haley are exporting death to the rest of the world.
Please supply data, I had no idea these tires were so dangerous. I am getting ready to replace 4 tires on my daughter’s car and was considering Firestone.
If Trump had been negotiating that contract, Bridgestone would have been forced to use the port of Charleston and also would have paid for its dredging too. It would have been the biggest and best port God ever let Trump create.
lulz
“earn far less”………..
Wonder why?
Always read the “super fine print” and triple check those foreign words…
Deeping the harbor wont change a thing with Bridgestone. Some one has cut another deal outside what was mad public. The contract becomes nulls and void now. Cut off Bridgestone and slap them with the full tax load. If they don’t want to pay, put them in jail. And let them take their little low number of jobs and plant somewhere else. That, to, will cost them.
This is the dumbest story I’ve ever read. Ships are arriving from Asia or South America, emptying there holds and need cargo for return trips. Let Bridgestone decide what is in their best interest. Tires are a highly competitive industry. If using Savannah gives them a slight edge then that protects SC jobs.
I have worked for a company that closed a retail outlet that was making the company $20,000 a year. I ask why close if you’re making money? The management said that outlet is a $500,000 dollar investment. If our competitors are making $50,000 on the same investment, we will be run out of businesses soon.
Governments should never interfere with a companies business decisions unless it has a compelling public interest. Crony insides deals for the the port of Charleston is not compelling enough.
From what I have read their raw material imports Com through Charleston.