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List of incentives available in this location for quick easy reference below.

Incentives

Table key

• Incentive offered
• Incentive not offered
• Did not submit information

Cash grants/incentivesMore [+]Less [-]
Job Development Credit (JDC): The JDC rebates a portion of new employees' withholding taxes to be used by a company for certain approved expenses such as real property costs, training or infrastructure.
Tax exemptionsMore [+]Less [-]
Job tax credit (JTC): The JTC provides an income tax credit of $1,500 to $8,000, for each new job created, for five years. Credits can offset up to 50 percent of state income tax liability in a single year and unused credits may be carried forward for 15 years. JTCs are available to manufacturing, processing, warehousing, distribution, qualified service-related, research and development, corporate office facilities, eligible tourism establishments and technology-intensive facilities. Fee-in-Lieu of Property Taxes (FILOT): A county may offer a FILOT to a company investing $2.5 million or more in new buildings and equipment. Generally, property can be subject to a FILOT for 20 years – or 30 years for certain large projects. Property tax abatement: New and expanding manufacturing and research and development facilities investing at least $50,000 are eligible for a five year exemption from county ordinary property taxes. Sales and Use Tax: There are a number of sales tax exemptions, including manufacturing machinery and repair parts, research and development equipment, certain industrial fuels and material handling equipment for manufacturing or distribution projects investing $35 million or more.
Property assistance / other fiscal incentiveMore [+]Less [-]
The Rural Infrastructure Fund assists qualified counties by providing financial assistance for infrastructure and other economic development projects. The Economic Development Set-Aside Program assists companies in locating or expanding in South Carolina with road or site improvements and other costs related to business location or expansion. Tourism Infrastructure Development Grants support new or expanding tourism or recreation facilities or designated development areas primarily through infrastructure projects.
Training and labor market assistanceMore [+]Less [-]
South Carolina Technical College System provides customized workforce training, readySC™. readySC™ provides qualifying companies relocating to or expanding in South Carolina with well-trained and highly motivated employees through a comprehensive and customized process that includes recruiting, screening and training. The program has trained more than 250,000 employees in a variety of skills and industries – aerospace, automotive, chemicals, distribution, food processing, metals and more. readySC™ is one of South Carolina’s most powerful economic development incentives and is provided at little or no cost to qualifying companies.
Loan guarantees, cheap loans or financeMore [+]Less [-]
Foreign companies are eligible for tax-exempt Industrial Revenue Bonds. The South Carolina Jobs-Economic Development Authority, a quasi-public instrument of the state, issues these bonds.
Exemptions from regulations
Target sectorsMore [+]Less [-]
Aviation Automotive Alternative Energy
Sectors specific incentivesMore [+]Less [-]
Corporate Headquarters Credit: A company establishing or expanding a corporate headquarters facility is allowed a credit against corporate income tax or license fees. Credit is permitted for 20 percent of qualifying real property costs. Additional credits are available for corporations meeting further criteria. Research & Development (R&D) Credit: The R&D Credit allows a company to take a credit against corporate income taxes or corporate license fees, equal to 5 percent of qualified research expenses made in the state. Credits can offset up to 50 percent of state income tax liability after all other credits have been applied. Other Credits: There are also income tax credits for ethanol or biodiesel production and the commercial production of fuel from biomass.

Sponsorship

If you are the authorised promotions agency for South Carolina and would like to have your location highlighted on fDi Atlas, you can contact our sales team on + 44 (0) 207 775 6667 or contact us here.