South Carolina Works on $500 Million ED Legislation

A bill that would allow the state to borrow up to $500 million for college research and economic development projects is on its way to the governor's desk.

Under the bill, tourism projects would qualify for more economic development money and a venture capital fund would be created to spur growth in new companies. It gives colleges more flexibility to condemn and buy land, give bonuses and do other things to reduce reliance on state funding.

The bill also expands the University of South Carolina's Sumter campus to a four-year program and creates a four-year culinary arts program at Charleston's Trident Technical College.

The USC-Sumter provision could be a sticking point. While Gov. Mark Sanford supports the economic portions of the bill, he's opposed to the USC-Sumter plan and could decide to veto it.

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