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South Carolina Resources Page
Inward Investment Guides

North American Seaport Outlook: Potential Shift in Ports of Call

Area Development Research Desk (Q3 2015)
JLL’s research reveals that, although the ports of Long Beach and Los Angeles will remain the primary U.S. gateways, Gulf and Eastern Seaboard ports are anticipated to capture even more West Coast discretionary cargo when the new Panama Canal opens next year. More

Location Notebook: Union County, SC, Moves Forward

Area Development Research Desk on behalf of the Union County Development Board (Q3 2015)
Union County, South Carolina, has pieced together a diverse economy from its historical textile roots. More

Choosing the Optimal Site for an Aviation-Related Project

Von Hatley, Managing Director, Jones Walker Consulting, LLC (Q3 2015 Auto/Aero Site Guide)
If current trends continue, a conservative estimate reveals there will be more than 1,000 announcements of aviation-related projects in the United States over the next decade. The best location decisions will be made by project teams that not only look at the current overall costs, but also have a deep understanding of hidden site development costs, in addition to the long-term political/financial stability that a region can provide. More

2015 Gold & Silver Shovel Awards Recognizing Excellence in State Job Creation and Economic Development Efforts

Area Development Special Presentation (Q2 2015)
Area Development’s annual awards recognize individual states for their overall economic development effectiveness. This year, we honor 21 states for their achievements in 2014 in garnering investment and job creation with Texas, Georgia, Tennessee, South Carolina and Nevada awarded the Gold Shovel. More

Auto/Aero Firms Redrawing the Map

Dale D. Buss, Staff Editor,  (Q2 2015)
Strong sales in the auto industry and a rebounding aerospace sector are spurring new facility/expansion projects in legacy as well as new locations. More

How U.S. States are Targeting Foreign Direct Investment

Thomas J. Stringer, Esq., Managing Director & Practice Leader - Site Selection & Business Incentives, BDO Consulting (Location USA 2015)
State and regional economic development organizations are developing a variety of strategies to market their best assets, build relationships, and improve their business climates to attract FDI. More

The United States: A Growing Competitor for New Manufacturing Plants

Alexandra Segers, International Senior Account Executive/Program Manager, SSOE Group (Q1 2015)
As companies continue to review their global site selection options, they are realizing the strong, measurable advantages a U.S. location offers. These advantages can easily be overlooked if the location decision is based on limited information or preconceived notions. More

Global Supply Chain Faces a Complex Mix of Issues

Tim Feemster, Managing Principal, Foremost Quality Logistics (Intermodal Sites)
From fluctuating fuel costs to fewer drivers to port congestion, logistics providers are facing a host of challenges. With the current transport climate, the ascendance of Inland ports is well-timed and probably part of the answer to both the fuel and congestion issues. More

SOUTH CAROLINA at a glance

POPULATION: 4,774,839 (July 2013)

LABOR FORCE: 2,035,751 (August 2014)

RIGHT TO WORK: Yes

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

EXPANDING INDUSTRIES: Advanced materials, agribusiness, aviation and aerospace, automotive, rubber, renewable energy industries

COLLEGE GRADUATES: (Age 25 and over) 24.6%

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; long-distance 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 meeting certain wage requirements over five years

Property Tax: No statewide tax on real or personal property; millage rates set locally; real property is appraised; 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 are exempt; fee-in-lieu of property taxes may be offered at the discretion of a county and can reduce property tax 43–62 percent t

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

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

Negotiated fee-in-Lieu of Property Taxes
Textile Facility, Retail Facility or Abandoned Building Revitalization Credit

ReadySC™ (customized workforce 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

  • Vehicles
    40%
  • Machinery
    21%
  • Rubber
    9.0%
  • Electrical Machinery
    7.0%
  • Plastics
    6.0%
  • Aircraft/Spacecraft
    5.0%
  • Paper/Paperboard
    4.0%
  • Organic Chemicals
    3.0%
  • Optical/Medical Instruments
    3.0%
  • Woodpulp, etc
    2.0%