Statewide Incentive

• Eligible businesses may negotiate with the CCED for a refund of up to $500 per production employee per year for retraining. The retraining must be necessary for the business to remain competitive or to introduce new technologies.

• A company must submit an application with a $500 application fee to the CCED.

Statewide Incentive

• Corporate Headquarters Credit equal to 20% of the costs of development, construction, or direct lease costs during the first five years of operation when a company creates at least 40 HQ jobs

• Enhanced Corporate Headquarters Credit of 20% for personal property purchased for headquarters when a company creates 75 or more HQ jobs paying at least 2 times the state per capita income

Statewide Incentive

• Provides companies with funds to offset the cost of locating or expanding a business facility in S.C. by allowing qualifying companies to utilize a portion of their employee’s tax withholding for eligible project expenses.

• The Job Development Credit program varies from 2% to 5% of eligible tax withholdings based on average hourly wages paid.

• The percentage level for Florence County as of 2020 is 70%.

• To be eligible to apply for the JDC, a company must create at least 10 net new full-time jobs at the facility based on the average monthly employment.

Statewide Incentive

• Job Tax Credit: eligible companies can receive $1,500 per job per year for 5 years, offsetting up to 50% of state income tax liability

• Unused credits can be carried forward 15 years

• A county may also join with another county to form a “multi-county industrial park” to raise the value of the Jobs Tax Credit by $1,000 per job to the above Jobs Tax Credits.