A Senate Finance subcommittee has approved tax breaks for banks that are similar to tax incentives other industries already receive.

The breaks are needed for a deal involving South Financial Group, which announced last week it would add 600 jobs as it expands its corporate headquarters in Greenville.

South Financial, the parent company of Carolina First Bank in North Carolina and South Carolina and of Mercantile Bank in Florida, is spending $100 million on a new facility.

The legislation says S.C. banks are eligible for incentives for new jobs, new construction or the establishment of corporate headquarters.

• Springs to close two Georgia plants

FORT MILL — Springs Global has told 340 workers they will lose their jobs when the company closes a yarn plant and a weaving plant in Hartwell, Ga.

Those layoffs will begin in August and continue through December, said Bob Evans, economic development director in Hart County, Ga. The shutdown also will affect about 100 janitorial contract workers.

Springs Global makes sheets, towels and other home products. The company recently merged with Brazilian textile producer Coteminas and is moving its Hartwell operations to Brazil, company spokesman Ted Matthews said.

• Asphalt company plans new operation

BISHOPVILLE — A Conway asphalt company will open an operation here that initially will employ 30 workers.

Palmetto Paving Co. said it will spend $3 million and should be in operation by June 1 at the location on U.S. 15 South near Interstate 20.

Employment could reach 120 people by next year, said Russell Faulk, Palmetto Paving’s vice president. The company, which also has a plant in Florence, has 300 workers, Faulk said.

• Companies pitch plans for new hospital

Four companies that want to build a Fort Mill hospital pitched their plans Thursday to state regulators.

Carolinas HealthCare System, Hospital Partners of America and Presbyterian Healthcare, all based in Charlotte, and the parent of Rock Hill’s Piedmont Medical Center each are fighting to capture patients in one of the region’s fastest-growing areas.

The S.C. Department of Health and Environmental Control is expected to decide in May who can build the facility. Appeals are likely, which could delay construction for years.