South Carolina Investment incentives
South Carolina offers a range of incentives designed to support capital investment, advanced manufacturing, research and development, energy innovation, agriculture and large-scale business growth. From sales and use tax exemptions to investment and income tax credits, these programs can help companies reduce costs and support long-term growth.
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5-year property tax abatement
Qualifying manufacturers, research and development facilities, distribution facilities and corporate headquarters operations may receive a five-year exemption from county operating property taxes on eligible investments.
Abandoned buildings revitalization credit
South Carolina offers incentives to support the revitalization of vacant buildings. Businesses that invest in qualifying properties may be eligible for a tax credit equal to 25% of rehabilitation expenses.
Agricultural equipment tax credit
Qualifying businesses may receive a tax credit for certain conservation tillage equipment, drip or trickle irrigation systems, and qualifying dual-purpose truck and crane equipment.
Agricultural products purchase credit
Agribusiness operations that increase purchases of agricultural products grown in South Carolina may qualify for an income tax credit or withholding tax credit.
Alternative fuel property credit
Eligible property or facilities placed in service before January 1, 2026 may qualify for a tax credit for alternative fuel distribution, dispensing or storage.
Corporate headquarters tax credit
Qualifying companies establishing or expanding a corporate headquarters in South Carolina may receive a credit equal to 20% of certain eligible headquarters facility, lease and equipment costs.
Corporate income tax moratorium
Qualifying companies making substantial investments and creating jobs in designated South Carolina counties may receive a moratorium on the corporate income tax attributable to the qualifying investment for 10 or 15 years.
Environmental and pollution control equipment exemptions
Qualifying machinery and equipment used to control pollution may be exempt from state and applicable local sales and use taxes when statutory requirements are met.
Investment tax credit
Qualifying manufacturers may receive an income tax credit equal to 0.5% to 2.5% of the cost of eligible manufacturing and productive equipment, depending on the property’s recovery period.
“One of the advantages of being in SC is working and growing with the local supply base. These suppliers are making investments, they are adding new technologies, they are bringing in continuous improvements in terms of resources allowing us all to grow together.”
Kyle Hamm SVP Power Systems Supply Chain for North America | Schneider Electric
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