CHARLESTON, S.C. (AP) - South Carolina is dividing up grants from the Department of Defense designed to help defense contractors find new lines of business because of cuts in defense spending.
The Post and Courier of Charleston reports (https://bit.ly/2djEHKH ) that the program is being administered by the state Commerce Department and the state Department of Employment and Workforce.
About $3 million is being distributed this year.
Last year about half that amount was distributed to about 20 companies statewide in an effort to save jobs and allow those companies to diversify into new areas. About half of those companies were in the Lowcountry.
Because of defense spending cuts there are fewer opportunities for companies that would normally bid on defense contracts.
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Information from: The Post and Courier, https://www.postandcourier.com
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