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JBRC reviews request for up to $85 million in state bonds for ‘Project Panther’ in Orangeburg County
Summary
The Joint Bond Review Committee heard a Department of Commerce request to review up to $85,000,000 in general obligation economic development bonds to finance infrastructure for Project Panther; the department certified sponsor investment of at least $400,000,000 and a projected creation of 400 jobs, and no formal committee vote on the bond request is recorded in the transcript excerpt.
Speaker 2 presented the Department of Commerce’s request that the committee review a proposed issuance of general obligation state economic development bonds not exceeding $85,000,000 to finance infrastructure associated with Project Panther in Orangeburg County. The presentation referenced a 12/17/2025 letter from the department and a certification by Secretary Leitzy that the financed improvements qualify as infrastructure under the State General Obligation Economic Development Bond Act.
According to Speaker 2, the certification states that the project sponsor will invest not less than $400,000,000 and that the project will create no fewer than 400 new jobs. Speaker 2 also said the estimated term of the bonds would be 20 years and that "the bonds will be the general obligation of the state, and the full faith and credit of the state will be pledged to their repayment." The committee was asked to review and make a recommendation regarding the request.
Speaker 1 then asked whether there were any questions or comments. The transcript records a brief procedural exchange but does not show a motion, formal recommendation or recorded vote on the bond request in the excerpt provided.
Why it matters: The department framed the request as an economic development tool intended to finance infrastructure that it says will facilitate recruitment and growth of industry, leverage a large private investment and yield new jobs in the region. A future committee recommendation or formal approval process would be required before any bonds are issued.
Next steps: The transcript excerpt does not record committee action on the request; if the committee issues a recommendation or forwards the matter for further approval, that action would appear in later minutes or in a subsequent JBRC record.
