News and Press Releases for December 2006

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12/21/2006

Budget to Put $10 Million Toward Myrtle Beach Airport

Budget Commits Two-Thirds of Money Needed for Project, Will Fund Remaining $5 Million in Following Year

Columbia, S.C. - In the latest preview of his upcoming Executive Budget, Governor Mark Sanford today announced that his spending proposal will call for a total of $15 million over the next two years toward expanding the terminal at Myrtle Beach International Airport.

With an estimated total cost of $228 million, the 14-gate terminal is aimed at bolstering the Grand Strand as a national and international vacation destination. The $15 million in state grants - along with $43 million in federal grants already received - will allow the county to proceed with obtaining bonds to begin the project. The governor's budget will put $10 million toward that balance this year, with the remaining $5 million coming next year.

"Tourism is our state's number one economic driver, and the crown jewel of our tourism economy is the Grand Strand," Gov. Sanford said. "In talking to friends on the coast like Howard Barnard on County Council, it's become very clear that we need this airport expansion not only to meet existing demand for travel, but also to ensure the Grand Strand's role as the state's number one destination for many years to come."

"Investing in the Grand Strand's infrastructure is a prudent decision for the state, since projects like the airport terminal will pay for themselves through increased tourism revenues and related tax collections," said Brad Dean, President of the Myrtle Beach Chamber of Commerce. "We are thrilled to see Governor Sanford make this a priority in his Executive Budget."

South Carolina's tourism industry is valued at more than $14 billion annually. More than 13 million tourists visit the Grand Strand each year. Horry County leads the state in tourism, accounting for over 38 percent of revenues.