THE NEXT BIG DEAL
A pro-business climate and a state that axes taxes—Your operation saves money and benefits from the state of South Carolina zeroing out a variety of taxes and rolling out the welcome mat for companies large, small, and expanding. Locally, we create a tailored incentives package suitable for your company’s needs.
Job Development Credit
The Job Development Credit effectively uses the personal withholding taxes of new employees to reimburse qualifying, approved companies that add value to South Carolina and the community in which they locate. These reimbursements are for eligible capital expenditures (land, building, site development, pollution control equipment or infrastructure) associated with projects creating new full-time jobs that also provide health care benefits for South Carolina citizens.
Jobs Tax Credit
The Jobs Tax Credit is a valuable financial incentive that rewards new and expanding companies for creating jobs in South Carolina. A manufacturing facility may qualify for the Jobs Tax Credit by creating a monthly average of 10 net new jobs. The value of the credit in Sumter County (Tier III) $20,250 and Lee County (Tier IV) $25,000.
Fee in Lieu of Tax
South Carolina law allows a county to negotiate with a company for a FILOT agreement if total capital investment is $2.5 million or greater. The company may include both real and personal property under the FILOT agreement. However, property that has been on the tax rolls in the state previously, including existing buildings, is not eligible for the FILOT. (This restriction is waived for companies investing an additional $45 million or more in new investment.)
Job Training Incentives
readySC™ helps new and expanding industries by developing a motivated, high-quality workforce specific to an organization’s individual needs. All of these services are provided for the company at little to no cost. Hallmarks of readySC™’s highly-acclaimed program include: flexibility, responsiveness, quality control, proven project management, experience, and the ability to help create highly functioning work teams.
EZone reimbursements support industry competitiveness and innovation in South Carolina.
When your manufacturing facility is ready to install new equipment, implement new processes, or upgrade technology, EZone can refund 67% of your training dollars spent on full-time production or technology first line employees or immediate supervisors with 2+ years on company payroll.
EZone works in partnership with our 16 technical colleges and the South Carolina Department of Revenue to promote industry competitiveness in our state and drive economic growth in our communities.
For more information contact: StateEZone@sctechsystem.edu
Lee & Sumter, South Carolina
Economic Development Alliance
TheLINK is a public-private economic development organization charged with facilitating the creation of jobs and the investment of capital in our region.