Looks like yet another ‘economic development’ deal is going south…

South Carolina’s crony capitalist approach to “economic development” is staring down yet another costly setback as AESC – a Japanese-owned electric vehicle battery manufacturer – has paused construction on its $1.6 billion facility in Florence, S.C.

“AESC has informed the state of South Carolina and our local partners that due to policy and market uncertainty, we are pausing construction at our South Carolina facility at this time,” the company noted in a statement. “We anticipate being able to resume construction once circumstances stabilize.”

The company broke ground on its 1.5 million-square foot facility less than two years ago, an event its leaders hailed as “a landmark moment in the evolution of South Carolina’s rapidly expanding electric vehicle industry.”

AESC’s Florence plant was supposed to create more than 1,620 jobs – although as we note often here at FITSNews, such rosy projections associated with taxpayer-funded handouts rarely pan out.

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When this deal was authorized in 2022, state taxpayers shelled out more than $255 million in subsidies – not counting recurring job development tax credits. Local subsidies pushed the tab even higher – to more than $400 million. An additional $111 million was earmarked for a second AESC facility, but that project was recently folded into the first plant.

“I look forward to the transformative impact that AESC’s historic investments will have on not only the Pee Dee but all of South Carolina,” governor Henry McMaster said at the time the incentives were approved.

The governor – who has presided over numerous other crony capitalist failures – offered similarly lofty rhetoric at the groundbreaking of the plant in June of 2023.

“Today, South Carolina is proud to celebrate AESC as the company embarks on a historic chapter in our state,” McMaster said. “Florence County has been ripe for an investment of this magnitude — one that will transform local communities and create generational wealth for South Carolinians. The groundbreaking for AESC’s battery cell gigafactory is a landmark moment in the evolution of South Carolina’s rapidly expanding electric vehicle industry.”

Was it, though? This project is now officially without a timeline while taxpayers are, once again, left holding the bag.

When will the next domino fall? It might be sooner than you think…

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RELATED | MORE PROBLEMS FOR VOLVO IN SOUTH CAROLINA

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As noted just last week in the aftermath of yet another corporate welfare fail, FITSNews has nothing but contempt for government-subsidized economic development (a.k.a. crony capitalism).

“We reject crony capitalist handouts on principle,” our outlet wrote back in 2015. “They are patently unfair, and South Carolina’s escalating use of them to reward favored corporations at the expense of small businesses and taxpayers is killing our state’s consumer economy.”

As crony capitalist schemes like these keep escalating, South Carolina continues to lag behind the rest of the nation in jobs and income growth.

When will the state’s “Republican” leaders try something different? How many more of these command economic failures is it going to take for them to finally learn their lesson?

Count on FITSNews to keep our audience in the loop regarding the status of these projects… and to keep holding accountable those responsible for these failures.

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ABOUT THE AUTHOR…

Will Folks is the founding editor of the news outlet you are currently reading. Prior to founding FITSNews, he served as press secretary to the governor of South Carolina. He lives in the Midlands region of the state with his wife and eight children.

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The South Carolina Education Lottery offers several draw games for those aiming to win big. Here’s a look at June 4, 2025, results for each game:

Winning Powerball numbers from June 4 drawing

05-17-23-35-45, Powerball: 24, Power Play: 10

Check Powerball payouts and previous drawings here.

Winning Pick 3 Plus FIREBALL numbers from June 4 drawing

Midday: 2-3-0, FB: 6

Evening: 3-9-6, FB: 0

Check Pick 3 Plus FIREBALL payouts and previous drawings here.

Winning Pick 4 Plus FIREBALL numbers from June 4 drawing

Midday: 5-0-9-6, FB: 6

Evening: 5-9-1-5, FB: 0

Check Pick 4 Plus FIREBALL payouts and previous drawings here.

Winning Cash Pop numbers from June 4 drawing

Midday: 09

Evening: 09

Check Cash Pop payouts and previous drawings here.

Winning Palmetto Cash 5 numbers from June 4 drawing

02-03-20-29-33

Check Palmetto Cash 5 payouts and previous drawings here.

Winning Powerball Double Play numbers from June 4 drawing

13-33-35-36-56, Powerball: 02

Check Powerball Double Play payouts and previous drawings here.

Feeling lucky? Explore the latest lottery news & results

Are you a winner? Here’s how to claim your lottery prize

The South Carolina Education Lottery provides multiple ways to claim prizes, depending on the amount won:

For prizes up to $500, you can redeem your winnings directly at any authorized South Carolina Education Lottery retailer. Simply present your signed winning ticket at the retailer for an immediate payout.

Winnings $501 to $100,000, may be redeemed by mailing your signed winning ticket along with a completed claim form and a copy of a government-issued photo ID to the South Carolina Education Lottery Claims Center. For security, keep copies of your documents and use registered mail to ensure the safe arrival of your ticket.

SC Education Lottery

P.O. Box 11039

Columbia, SC 29211-1039

For large winnings above $100,000, claims must be made in person at the South Carolina Education Lottery Headquarters in Columbia. To claim, bring your signed winning ticket, a completed claim form, a government-issued photo ID, and your Social Security card for identity verification. Winners of large prizes may also set up an Electronic Funds Transfer (EFT) for convenient direct deposit of winnings.

Columbia Claims Center

1303 Assembly Street

Columbia, SC 29201

Claim Deadline: All prizes must be claimed within 180 days of the draw date for draw games.

For more details and to access the claim form, visit the South Carolina Lottery claim page.

When are the South Carolina Lottery drawings held?

• Powerball: 10:59 p.m. ET on Monday, Wednesday, and Saturday.
• Mega Millions: 11 p.m. ET on Tuesday and Friday.
• Pick 3: Daily at 12:59 p.m. (Midday) and 6:59 p.m. (Evening).
• Pick 4: Daily at 12:59 p.m. (Midday) and 6:59 p.m. (Evening).
• Cash Pop: Daily at 12:59 p.m. (Midday) and 6:59 p.m. (Evening).
• Palmetto Cash 5: 6:59 p.m. ET daily.

This results page was generated automatically using information from TinBu and a template written and reviewed by a South Carolina editor. You can send feedback using this form.

South Carolina baseball continues to see players hit the transfer portal this week. Right-handed pitcher (RHP) Ryder Garino is the latest Gamecock to look for a new home next season.

Garino joined the team as a true freshman in 2025. He made 16 appearances with one start for the Gamecocks. He finished this season with a 2-0 record with 34 strikeouts and a 5.84 ERA in 24.2 innings pitched.

Garino attended Cherry Hill West High School in Cherry Hill Twp., N.J., where he was the New Jersey Pitcher of the Year as a senior in 2024. He had a 0.39 ERA in 2024, allowing just 27 hits while striking out 94 batters with three earned runs in 53 innings of work. He threw nine complete games in the 2024 season.

This marks player number 14 to enter the portal from South Carolina since it opened on Monday. Garino joins pitcher Brendan Sweeney, catcher Max Kaufer, pitcher Eli Jerzembeck, pitcher Tyler Pitzer, infielder (INF) Nolan Nawrocki, pitcher Eddie Copper III, OF/DH Jase Woita, INF Will Tippett, pitcher Wyatt Evans, pitcher Roman Kimball, outfielder (OF) Tyler June, and INF Cayden Gasken, and catcher Ryan Bakes.

The portal will stay open until July 1.

Join the community:

You can follow us for future coverage by clicking “Follow” on the top right-hand corner of the page. Also, be sure to follow us on X at @GamecocksDigest and on Facebook!

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