Doing business is more rewarding in every way in the SCA Region.

“South Carolina is a perennial leader in incentives.”

-- AreaDevelopment 2020

ZERO IN for lower taxes
0
State property tax
Local income tax
Inventory tax
0
Sales tax on manufacturing machinery, industrial power or materials for finished products
0
Wholesale tax
Unitary tax on worldwide profits
State property tax
Local income tax
Inventory tax
Sales tax on manufacturing machinery, industrial power or materials for finished products
Wholesale tax
Unitary tax on worldwide profits
ELEVATE PROFITS with maximum jobs tax credits

SCA offers South Carolina’s maximum Tier tax credits to both expanding and new companies. Applied against corporate income taxes, this valuable credit can eliminate 50% of a company’s liability.
  • Tier I - $1,500
  • Tier II - $2,750
  • Tier III - $20,000
  • Tier IV - $25,000

SCA offers South Carolina’s maximum Tier tax credits to both expanding and new companies. Applied against corporate income taxes, this valuable credit can eliminate 50% of a company’s liability.
  • Tier I - $1,500
  • Tier II - $2,750
  • Tier III - $20,000
  • Tier IV - $25,000

$25,000
Tax credit per job for qualified project in Tier IV county
$20,000
Tax credit per job for qualified project in Tier III county
$25,000
Tax credit per job for qualified project in Tier IV county
$20,000
Tax credit per job for qualified project in Tier III county
WORLD-CLASS SKILLS are all part of the deal
Workforce Training
Workforce Training
  • readySCTM
    Provides no-cost customized training that has helped leading domestic and global companies take root and flourish in SC. 
  • Apprenticeship CarolinaTM
    Flexible, employer-sponsored on-the-job training

 


Companies Choosing readySC and Apprenticeship Carolina

ATT
Evans General Contractor
Stantec
First Citizens Bank
Masonite
Davis Floyd
OTHER STATUTORY INCENTIVES

ECONOMIC IMPACT ZONE INVESTMENT CREDIT

5%

One-time tax credit against corporate income tax based on investment in new production equipment.

 

CORPORATE HEADQUARTERS CREDIT

20%

Credit applied to corporate income tax or licensing fees based on the cost/leasing costs of the actual portion of the facility dedicated to headquarters operation.

 

RESEARCH AND DEVELOPMENT TAX CREDIT

5%

Tax credit equal to 5% of the investor’s qualified research expenses in SC.

(May not exceed 50% of the company’s remaining tax liability after all other credits have been applied.)
 

ECONOMIC IMPACT ZONE INVESTMENT CREDIT

5%

One-time tax credit against corporate income tax based on investment in new production equipment.

 

CORPORATE HEADQUARTERS CREDIT

20%

Credit applied to corporate income tax or licensing fees based on the cost/leasing costs of the actual portion of the facility dedicated to headquarters operation.

 

RESEARCH AND DEVELOPMENT TAX CREDIT

5%

Tax credit equal to 5% of the investor’s qualified research expenses in SC.

(May not exceed 50% of the company’s remaining tax liability after all other credits have been applied.)
 

LOCAL INCENTIVES: Lowering property taxes

PROPERTY TAX ABATEMENT

5-year abatement

From county property taxes for qualified projects.

 

FEE-IN-LEU OF PROPERTY TAX (FILOT)

20-year incentive

Allowing qualified companies to negotiate a fee in lieu of paying property taxes. Lowers assessment ratio from 10.5% for manufacturers to low as 6% at a fixed rate for 20 years.

 

PROPERTY TAX ABATEMENT

5-year abatement

From county property taxes for qualified projects.

 

FEE-IN-LEU OF PROPERTY TAX (FILOT)

20-year incentive

Allowing qualified companies to negotiate a fee in lieu of paying property taxes. Lowers assessment ratio from 10.5% for manufacturers to low as 6% at a fixed rate for 20 years.

 


NEW MARKET TAX CREDIT PROGRAM

Benefits include lower interest rates on loans (sometimes below market), interest-only payments for seven years, non-traditional financing, access to reduced cost of capital and more.

OPPORTUNITY ZONES

Explore the significant tax advantages offered by our region’s Opportunity Zones on our Opportunity Zone Advantages page.

Our incentives can include:

Free or low-cost assistance with:

  • Permitting and environmental issues
  • Legal guidance in navigating tax incentives for maximized return on investment.
  • Engineering consultation for construction or upfitting of facilities.

 

Low-cost land, sites and buildings:

SouthernCarolina Alliance owns and operates several industrial parks and buildings, used to incentivize projects in the best areas for industrial development.  SCA will work with your company and our workforce development partners to ensure a profitable and efficient start-up to your project, as well as your expansions.

JOB DEVELOPMENT CREDIT: 

2% to 5% rebate
For up to 15 years of a portion of new employees’ withholding taxes that can be used to address the specific needs of individual companies, approved on a case-by-case basis. Payments received may be used to offset the cost of rents or investments in fixed assets such as land, building and infrastructure.

ECONOMIC DEVELOPMENT SET-ASIDE PROGRAM:

Assists companies in locating or expanding in South Carolina through road, water and sewer infrastructure, site improvements and other costs related to business location or expansion.

ENTERPRISE ZONE RETRAINING CREDIT PROGRAM

Up to 50%
Retraining credit for existing production employees (not to exceed $500 per person per year).

RURAL INFRASTRUCTURE FUND: 

Assists qualified counties by providing financial assistance for infrastructure and other activities that enhance economic growth and development, including job creation and product development.

PORT VOLUME INCREASE CREDIT:

Offered to qualified entities that use state port facilities and increase base port cargo volume by 5% over base-year totals. (The base year qualifications are 75 net tons of non-containerized cargo or 10 loaded TEU’s transported through a South Carolina port).

TOURISM INFRASTRUCTURE DEVELOPMENT GRANTS:

Supporting new or expanding tourism, recreation facilities or designated development areas primarily through infrastructure projects.

FEDERAL TAX INCENTIVES: Big impact from innovation.

NEW MARKET TAX CREDIT PROGRAM

Benefits include lower interest rates on loans (sometimes below market), interest-only payments for seven years, non-traditional financing, access to reduced cost of capital and more.

OPPORTUNITY ZONES

Explore the significant tax advantages offered by our region’s Opportunity Zones on our Opportunity Zone Advantages page.


SOUTHERNCAROLINA ALLIANCE: Critical assistance and incentives.

Our incentives can include:

Free or low-cost assistance with:

  • Permitting and environmental issues
  • Legal guidance in navigating tax incentives for maximized return on investment.
  • Engineering consultation for construction or upfitting of facilities.

 

Low-cost land, sites and buildings:

SouthernCarolina Alliance owns and operates several industrial parks and buildings, used to incentivize projects in the best areas for industrial development.  SCA will work with your company and our workforce development partners to ensure a profitable and efficient start-up to your project, as well as your expansions.


SOUTH CAROLINA DISCRETIONARY INCENTIVES: Diverse, productive, profitable.

JOB DEVELOPMENT CREDIT: 

2% to 5% rebate
For up to 15 years of a portion of new employees’ withholding taxes that can be used to address the specific needs of individual companies, approved on a case-by-case basis. Payments received may be used to offset the cost of rents or investments in fixed assets such as land, building and infrastructure.

ECONOMIC DEVELOPMENT SET-ASIDE PROGRAM:

Assists companies in locating or expanding in South Carolina through road, water and sewer infrastructure, site improvements and other costs related to business location or expansion.

ENTERPRISE ZONE RETRAINING CREDIT PROGRAM

Up to 50%
Retraining credit for existing production employees (not to exceed $500 per person per year).

RURAL INFRASTRUCTURE FUND: 

Assists qualified counties by providing financial assistance for infrastructure and other activities that enhance economic growth and development, including job creation and product development.

PORT VOLUME INCREASE CREDIT:

Offered to qualified entities that use state port facilities and increase base port cargo volume by 5% over base-year totals. (The base year qualifications are 75 net tons of non-containerized cargo or 10 loaded TEU’s transported through a South Carolina port).

TOURISM INFRASTRUCTURE DEVELOPMENT GRANTS:

Supporting new or expanding tourism, recreation facilities or designated development areas primarily through infrastructure projects.


Corporate Income Tax Incentives (Statutory)
South Carolina Discretionary Incentives
Business Tax Information
Local Incentives
Regional Incentives

As the non-profit regional economic development organization serving the area, SouthernCarolina Alliance is motivated to incentivize projects.  Our incentives may include free or low-cost assistance from the state’s leading experts to handle your company’s permitting and environmental questions, free upfront legal guidance on navigating tax incentives and SC laws to maximize the incentives to your company, and/or engineering consultation for construction of new facilities or the up-fitting of existing ones. 

In addition, SouthernCarolina Alliance owns and operates several industrial parks and buildings to attract new industries to our region.  These properties are utilized to incentivize projects in the best areas for industrial development.  SCA will work with your company and our workforce development partners to ensure a profitable and efficient start-up to your project, as well as your expansions.

NEW MARKET TAX CREDIT PROGRAM

THE FEDERAL NEW MARKET TAX CREDIT is an often underutilized, but very powerful financing tool. Businesses can obtain benefits including lower interest rates (sometimes below market) on loans, interest-only payments for seven years, non-traditional financing not available in the marketplace, access to a reduced cost of capital, and more. The NMTC is a competitive program administered by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund.

OPPORTUNITY ZONES

Opportunity Zones are a good deal all around, helping to inject local communities with strategic development investment while allowing taxpayer-investors to enjoy significant tax advantages. You can explore the opportunity zones in our region on our Opportunity Zone Advantages page.