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South Carolina Resources Page
Inward Investment Guides

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., Principal, Site Selection & Business Incentives, Ryan & Company (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

Slideshow: 2014 Gold and Silver Shovel Award Recipients

Area Development Magazine Special Presentation (Directory 2015)
Shown here are 12 of the recipients of Area Development’s 2014 Gold & 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. All told, 20 states were recognized for their efforts. More

Regional Report: Economy Sizzling in the South Atlantic States

Steve Stackhouse-Kaelble (Directory 2015)
With numerous new and expanded facilities being announced in 2013 and 2014, the South Atlantic region’s string of success stories is continuing. More

How a Global Tire Manufacturer Finds the Perfect Match in a Distribution Center Location

Jamie Lominack, Corporate Real Estate Manager, Michelin North America (Directory 2015)
At least 80 percent of the cost of a tire comes from the logistics and transportation of moving that tire through the supply chain – as such, identifying the ideal location for a DC is a crucial process for a global company like Michelin. More

Critical Site Selection Factor #1: Availability of Skilled Labor an Acute Need

Dale D. Buss, Staff Editor,  (Q4 2014)
With a growing U.S. economy and an “onshoring” trend fanning demand, the availability of skilled labor has become the #1 factor in site decisions. 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%