Discretionary grants
South Carolina uses discretionary grant programs to help address infrastructure, site development and other project needs associated with new and expanding businesses. The South Carolina Coordinating Council for Economic Development (Coordinating Council) administers three primary state grant funds: the Economic Development Set-Aside Program, Closing Fund and Rural Infrastructure Fund. Funding is awarded on a project-by-project basis and is generally provided to eligible local governments in support of qualifying economic development projects.
Overview
Discretionary grants are business development incentives that can help local communities address infrastructure, real property and other project costs associated with a company locating or expanding in South Carolina.
For business development projects, grant funding is tied to specific job creation and capital investment commitments. Awards are discretionary and based on the needs, competitiveness and anticipated economic impact of each project.
Companies do not generally apply directly for these grants. SC Commerce works with the company and local government to identify project needs and the eligible local government serves as the grant applicant and recipient.
Programs
Economic Development Set-Aside Program
The Economic Development Set-Aside Program supports infrastructure and site-related improvements needed to help new and expanding businesses locate or grow in South Carolina.
Funding is primarily used for needs such as real property improvements, roads, water and sewer infrastructure and site preparation.
Explore the Economic Development Set-Aside Program
Closing Fund
The Closing Fund provides flexible assistance for competitive, high-impact economic development projects when additional funding may be needed to support a company’s location or expansion decision.
Funding may support a range of project needs, including real property, infrastructure, site preparation and building improvements.
Rural Infrastructure Fund
The Rural Infrastructure Fund (RIF) supports infrastructure and other economic development activities primarily in South Carolina’s rural communities.
RIF may support both company-specific business development projects and broader efforts to improve industrial sites, infrastructure, workforce readiness and economic competitiveness.
How grants work
For business development projects, the SC Commerce project team works with the company and local government to identify specific funding needs.
If a project meets applicable evaluation criteria, the local government may be invited to submit a formal application. The Coordinating Council reviews each funding request and has discretion to approve, deny or negotiate the amount and terms of an award.
If funding is approved, the local government enters into a grant agreement with the Coordinating Council. Business development projects also require a performance agreement among the company, local government and Coordinating Council establishing job creation and capital investment commitments.
