South Carolina Resources Page
Inward Investment Guides

Markets Matter in the Data Center Location Decision

Thomas Traugott, Senior Vice President, Cassidy Turley (Q2 / Spring 2013)
An understanding of the data center marketplace and its supply/demand dynamics will help both site selectors and their attractors move beyond the checklist and find the right fit. More

The States Leading the U.S. Manufacturing Resurgence

Mark Crawford (Q1 / Winter 2013)
Exhibiting know-how and innovation, U.S. manufacturers are adding to their payrolls and economic growth across the nation. We have identified 19 states where manufacturing is leading the way... More

Foreign Investment Creates Most Jobs in China, India, & the U.S.; South Carolina, Texas, and North Carolina Lead in U.S.

Area Development Online News Desk (January2013)
IBM’s 2012 Global Location Trends report attempts to provide a current view of the world’s “location landscape,” as companies determine where to locate their operations in order to maintain their competitiveness. More

Strong Business and Labor Climate Propels South Carolina to Number Two Overall

Area Development Magazine Special Presentation (Fall 2012)
South Carolina is on a roll - the Palmetto State brought in a total investment of $3.37 billion from new and expanding businesses in 2011. Manufacturing is also on the mend, with total exports up by 21 percent last year. These are just some of the reasons South Carolina was ranked second by the consultants among the Top States for Doing Business, up from fourth place in 2011. More

2012 Top States for Doing Business Survey Results

Area Development Magazine Special Presentation (Fall 2012)
For the third consecutive year, Area Development magazine's editors have conducted a survey of a select group of highly respected location consultants who work with a nationwide client base. We asked the consultants to name their top-5 state choices in 14 site selection categories. More

Slideshow: 2012 Gold and Silver Shovel Award Recipients

Area Development Magazine Special Presentation (Fall 2012)
Shown here are six of the recipients of Area Development's 2012 Gold and Silver awards, which were bestowed in recognition of the states' efforts to capture new facility and expansion projects that resulted in significant investment and job-creation. More

Rural Jobs Challenge Awards Encourage Innovative Partnerships

Beth Mattson-Teig (Fall 2012)
The grants, which were awarded in August, are part of a national competition aimed at encouraging job creation and economic growth in rural communities across the country. More

New Natural Gas Technologies Firing Up Manufacturing

Steve Stackhouse (Fall 2012)
The natural gas boom is a "game-changer" sparking a "manufacturing renaissance." More
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Studies/Research
News Items
 
Around The Web
 
Studies/Research

SOUTH CAROLINA at a glance

POPULATION: 4,679,230 (July 2011)

LABOR FORCE: 2,222,200 (August 2012)

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES:Automotive-related industries, forestry and wood products, metalworking, plastics, textiles, agriculture, tourism

EXPANDING INDUSTRIES: Advanced materials, aviation and aerospace, automotive, rubber, healthcare products, renewable energy industries, tourism

COLLEGE GRADUATES: (Age 25 and over) 33.0%

BASIC BUSINESS TAXES:
Corporate Income Tax: 5 percent of taxable income derived from South Carolina operations; a single-factor sales formula for apportionment

Sales and Use Tax: 6 percent on gross receipts from retail sales or leases of tangible personal property; local governments may also levy local sales and use taxes; exemptions include manufacturing production machinery and repair parts; manufacturing materials that become an integral part of the finished product; coal or other fuel for manufacturers, transportation companies, electric power companies, and processors; industrial electricity and other fuels used in manufacturing tangible personal property; R&D equipment; manufacturers' air, water, and noise pollution- control equipment; material- handling equipment in manufacturing and distribution facilities investing at least $35 million; packaging materials; longdistance telecommunications services, including 800 services; parts and supplies used to repair or condition aircraft owned or leased by the federal government or commercial air carriers; an exemption for construction materials used in manufacturing or distribution facilities investing at least $100 million over 18 months; an exemption for computer equipment and electricity of a data center investing at least $50 million and creating and maintaining at least 25 jobs over five years

Property Tax: No statewide tax on real or personal property; millage rates set locally; real property is appraised and manufacturing real property is assessed at 10.5 percent, and any other commercial real property is assessed at 6 percent of fair market value; personal property of a manufacturer or any other commercial personal property is assessed at 10.5 percent of fair market value; personal property is allowed to depreciate at a rate established by state law down to a residual level of 10 percent of the original property value; five-year property tax abatement from county operating taxes for new and expanding manufacturing and R&D facilities investing at least $50,000 and corporate headquarters, office, and distribution facilities investing at least $50,000 and creating at least 75 new full-time jobs; all inventories, intangible property, and pollution-control equipment exempt; fee-in-lieu of property taxes may be offered at the discretion of a county and can reduce property tax 43–62 percent

BUSINESS INCENTIVES:
Corporate income tax credits:
• Job Tax Credit

• Investment Credit

• Corporate Headquarters Credit

• Research and Development Credit

• Biomass Resources Credit

• Ethanol or Biodiesel Credit

• Solar Energy Credit

• Renewable Fuels Credit Negotiated fee in lieu of property tax

Discretionary income, license, or withholding tax incentives:
• Job Development Credit

• Job Retraining Credit

• Port Credit

Textile Facility Revitalization Credit

ReadySC™ (customized work force training program)

Apprenticeship Carolina

WorkReady SC™ (statewide, nationally affiliated Career Readiness Certificate Program)

Foreign trade zones

Jobs - Economic Development Authority:
• Taxable industrial development bonds

• Tax-exempt industrial development bonds InvestSC, Inc.

S.C. Capital Access Program

Principal Manufacturing industries

  • Transportation Equipment
    14.4%
  • Primary Metal & Fabricated Metal Products
    14.0%
  • Printing, Paper, Wood Products & Furniture
    11.9%
  • Machinery
    10.4%
  • Textiles & Apparel
    9.3%
  • Rubber & Plastics Products
    8.6%
  • Food
    8.5%
  • Chemicals
    8.2%
  • Computers & Electrical Products/Appliances
    7.8%
  • Other Manufacturing Industries
    6.9%