Gov. Sanford Signs Priority Investment Act
Press Release
BILL AIMED AT BETTER COORDINATION OF PLANNING, INFRASTRUCTURE INVESTMENTS
Gov. Mark Sanford traveled to Charleston today to sign the Priority Investment Act, a new law aimed at improving quality of life and protecting taxpayers by encouraging better infrastructure investments at the local level.
Originally issued as a recommendation by the governor's Quality of Life Task Force in 2003 and advocated by the governor in his Executive Budget and previous State of the State addresses, the bill would require that local governments communicate with one another when investing in infrastructure like roads, water lines and sewer lines. The bill was originally authored by Rep. Ben Hagood, with the Senate version being sponsored by Senators Chip Campsen and Larry Martin.
"We believe this bill is a win for anyone who cares about improving quality of life in our state and for every taxpayer," Gov. Sanford said. "This is something we've been pushing for from day one as a step toward preserving the way we look and feel as a state, and given the growth we all know is coming our way over the next decade, I'd thank the House and Senate for finally moving this bill across the finish line."
The new law will remove unnecessary planning requirements currently mandated in local comprehensive plans that add to the cost of housing, will require coordination between local governments to determine where infrastructure investments should occur, will require comprehensive transportation planning, and will require analysis of federal, state, and local funds available for public infrastructure and facilities during the next ten years in an effort to encourage communities to plan where they want to grow.
U.S. Census projections estimate South Carolina will grow by more than 1.1 million people by 2030, and a third or more of those people are expected to make their home along the coast. South Carolina has the 10th-fastest population growth rate, outpacing the growth rates for the nation and the South as a whole. As a result, it is estimated that over that time period South Carolina will need 525,000 new housing units, 40 million square feet of office space, 45 million square feet of retail space and 13,000 hotel rooms.
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