Four measures that could have helped move South Carolina toward a brighter economic future were killed by an obstructionist move in the final hours of the legislative session.

The inability to pass the measures means South Carolina will fall further behind other states in the race to attract knowledge-based industries and raise the income of its citizens.

The Legislature did not pass measures that would have:

???????_Set up financial incentives to lure biotech- and medical-related companies to the state

???????_Created a fund to help finance high-risk companies that could bring big rewards

???????_Let universities and colleges borrow more money through bonds

???????_Eased barriers to partnerships between universities and businesses.

The four measures were rolled under the umbrella of The Life Sciences Act, which Sen. John Kuhn, R-Charleston, held hostage Thursday and Friday. Kuhn filibustered, refusing to allow a vote and also refusing to allow consideration of separate elements.

Kuhn says he specifically objected to the bond issue, saying it would have given too much money to research universities and not enough to other four-year colleges and technical schools.

Other senators said Kuhn held up the bill in hopes of a deal involving passage of a Charleston school bill.

"It is just disappointing that one of the better total packages of economic development incentives that we have put together was derailed," said Sen. Jim Ritchie, R-Spartanburg.

Ritchie was a principal sponsor of the life sciences and venture capital bills and a supporter of the other measures. The measures had broad bipartisan support but could not get past Kuhn.

Secretary of Commerce Bob Faith, who was traveling Friday, issued a statement saying he was "very, very disappointed the life sciences and venture capital bills did not pass. But we will be back next year pushing hard."

Commerce had been so confident the venture capital bill would pass that it had been working with the governor's office on a press conference, said Claire Morris, Commerce's communications director.

The Life Sciences Act would have provided significant economic incentives to attract pharmaceutical and medical industry jobs to South Carolina.

The measure was structured, at least in part, to satisfy a major pharmaceutical company that the Department of Commerce has been courting.

To qualify under the bill, a life sciences project would have to invest $100 million and create at least 200 full-time jobs paying at least 150 percent of the state's annual per capita income.

The wage requirement would require jobs paying at least $38,100. The state's current per capita income is $25,400.

A life sciences project would include a drug maker, a maker of lab equipment, or companies doing research and development.

Faith "feels that we lost a very real opportunity to offer innovative incentives to biotech companies," Morris said.

NOTHING VENTURED

The Venture Capital Act would have established a mechanism to create as much as $100 million for promising but risky start-up companies.

The proposal would use state tax credits to encourage banks and financial institutions to put money into an investment pool.

The money would go to investment firms known as venture capitalists that back young companies with high-growth potential.

The lack of access to venture capital has been called one of the major impediments to growing companies in South Carolina.

Columbia businessman Larry Wilson, who has been at the forefront of efforts to get the venture capital bill passed, called it a "real shame" that the bills died.

"They were important to jump-start our economy and help us start catching up," he said. "We have along way to go. We need to get started."

Two other measures were aimed at the state's colleges and universities. One would have let schools borrow more money through bond issues.

The other would have made it easier for private companies to work with universities to perform research. Companies would have been allowed to build on university property and lease those facilities to the university.

USC president Andrew Sorensen said he was deeply disappointed neither passed. The two measures would have let USC proceed with plans to develop a research campus.

University lawyers will now take a hard look at the state's procurement code to see if they can find some flexibility to allow Sorensen to proceed this year.

But failure to pass the measures will make it difficult, if not impossible, to attract private companies to invest on campus.

"I don't want to do anything against the state code," Sorensen said.

PALMETTO INSTITUTE IS NOT HAPPY

All the measures that failed have been watched closely by the Palmetto Institute, the organization established by financier Darla Moore and others to increase South Carolina's per-capita income.

Jim Fields, executive director of the institute, would not speak directly to the legislation.

But Fields said if you take the latest five-year national economic forecasts, South Carolina looks like an island compared with its neighboring states.

The state substantially trails them by several percentage points in projected growth in three critical areas: employment growth, personal income growth and real gross state product growth.

"You can't be competitive unless you are competitive with your neighboring states to start with," Fields said.

But being competitive requires several elements, Fields said, including a nationally ranked research university.

"And we don't have that," Fields said. "The failure to move toward that will, in my opinion, not serve South Carolina well."

Access to capital is another critical element. "And that is a problem that wasn't addressed this year," Fields said.

The other critical element is to create a work force that meets the needs of both core companies and emerging technologies. That requires not only directing attention to the current work force -- but also to the state's K-12 system, he said.

"Those things need attention, and didn't get the attention they fully deserve."