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South Carolina Resources Page
Inward Investment Guides

U.S. Investment Decisions by Foreign Companies Still Driven by Access and Scale

Geraldine Gambale, Editor, Area Development Magazine (Location USA 2014)
The United States offers foreign investors unparalleled opportunities and choice locations within a single sophisticated and massive market. More

South Carolina Direct Financial Incentives 2014

Area Development Online Research Desk (Q1 2014)
South Carolina's economic development, finance and tax organizations provide a range of incentive programs to initiate new business and commercial investment. More

Public Power Communities: Future-Focused

Steve Stackhouse-Kaelble (Q1 2014)
America’s public power communities are places where local governments and other public entities have taken charge to deliver services their communities need to prosper. More

The Southland Delivers a Solid Economic Performance

Mark Crawford (Q1 2014)
The southern states have embraced the transition from traditional to knowledge-based economies and work hard to attract new projects and the high-paying jobs that come with them. More

Sustainability: The “Invisible Hand” Shapes Next-Generation Location Selection

Don Schjeldahl, Founder, Don Schjeldahl Group (Q1 2014)
Companies that view their location strategies through a “sustainability filter” are more likely to achieve competitive advantage and long-term stakeholder value. More

Primer: The Impact of Taxes & Incentives on Data Center Locations

Chris Schastok, Vice President, Economic Incentives Group (EIG), CBRE, Inc. (Q1 2014)
Many states and communities are using incentives to lure data centers and establish clusters of these facilities, which, in turn, stand to benefit from tax breaks and cash grants for necessary infrastructure improvements. More

The 2013 Gold & Silver Shovel Award Recipients in Pictures

Area Development Magazine Special Presentation (Directory 2014)
Shown here are nine of the recipients of Area Development’s 2013 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, 19 states were recognized for their efforts. More

Regional Report: The South Atlantic Capitalizes on Its Pro-Business Climate

Beth Mattson-Teig (Directory 2014)
Customized incentives and work force training, as well as its right-to-work environment, are drawing auto, aero, life sciences, and other advanced manufacturers to the South Atlantic. More
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Studies/Research
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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%