Report: Offshore drilling could bring South Carolina more than a billion in tax revenue

Local News

CHARLESTON, SC (WCBD) – A new report shows offshore drilling in South Carolina could deliver a major economic boost.

The report by the American Petroleum Institute found that over 20 years, property and personal income taxes could generate more than one and a half billion dollars.

Supporters of offshore drilling say that money could go toward improving infrastructure, funding higher education, and cutting your taxes.

However, those against drilling say it is not just a coastal issue.

“This is vacation land for many people across the state. Just in Georgetown County alone, there is over $200 million worth of property owned by people in Greenville,” said Peg Howell of Stop Offshore Drilling in the Atlantic.

The study also predicts South Carolina would see the second highest level of spending from offshore drilling.

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