Need advice on adding 220V to the workshop

220v equipment only needs a common if there’s something in it that runs off of 110vac, like lights, timers, certain controllers, computers, etc...

A typical 2x72 vfd/motor setup just needs the 2 hots and a ground.
 
I would not use the power feed for the A/C for your shop. Spend a little money on wire and material and install a proper feed to your shed. If you can afford a quality grinder, you can afford some wire and conduit. It's normally not that much work. You'll be glad you did.
 
Agree. Will do while waiting for a new grinder.
Just estimated it will be about the same time as pulling neutral to a box. And probably under a $100.
 
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