McMaster nominates Department of Insurance director
(The Center Square) — South Carolina Gov. Henry McMaster nominated Michael Wise as the next director of the South Carolina Department of Insurance.
Wise, 36, has worked at DOI since 2009 and serves as the agency’s acting director following the retirement of former Director Ray Farmer in April 2022. Wise previously served as the agency’s deputy director of actuarial and market services.
“His 14 years of experience with the agency and impressive track record has given me, and many others complete confidence that he is the right candidate to lead this important agency forward,” McMaster, a Republican, said in an announcement.
Governmental engineering company receives job tax credits
The South Carolina Coordinating Council for Economic Development approved job development credits for a governmental engineering company expanding its Charleston County operations.
Defense Engineering Services plans to spend $2.5 million on the project, which, according to officials, will create 45 jobs. Operations are online, and the expansion will be finished in May 2023.
DES’ new roughly 53,000-square-foot facility, located at 6920 Weber Blvd., Suite 300 in North Charleston, will accommodate manufacturing space for large-scale projects and add manufacturing capabilities to its prototype and low-rate initial production shop.
SC approves job tax credits for global firearms manufacturer
The South Carolina Coordinating Council for Economic Development signed off on job development credits for a global firearms manufacturer expanding its South Carolina footprint in Richland County.
FN America, the United States subsidiary of Belgian-based FN Herstal, plans to spend $33 million to build a new facility in Liberty and create 176 jobs. The roughly 100,000-square-foot facility will be built over two phases, accommodating FN America’s expanding manufacturing operations.
The company plans to break ground for the Pickens County facility in 2024 and expects to complete the project in 2025.
