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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Job development credit
A discretionary, performance-based incentive that allows qualifying companies to use a portion of employee withholding to reimburse approved project costs associated with a new or expanding operation.
Job tax credit
A statutory tax credit available to qualifying new and expanding companies that create and maintain net new full-time jobs in South Carolina. Credit value varies based on the number of jobs created and the county where they are located.
Large project sales tax exemptions
Qualifying large-scale projects may receive sales and use tax exemptions for certain material-handling equipment, construction materials or technology-intensive equipment and related purchases.
Manufacturing machinery & equipment sales tax exemption
State and local sales and use tax exemptions are available for companies that purchase machinery, equipment or parts used to produce tangible goods.
Opportunity Zones
The Opportunity Zone (OZ) program is a federal initiative designed to encourage economic development and job creation through long-term private investment in designated low-income urban and rural communities.
Port volume increase tax credit
This credit against income taxes or withholding taxes is for entities that use state port facilities and increase base port cargo volume by 5% over base-year totals.
Recycling facility credit
South Carolina offers a credit equal to 30% of the cost of recycling property placed into service each year by qualified recycling facilities.
Research & development equipment sales tax exemption
To support innovation in SC, machinery and equipment purchased for R&D may be eligible for a state and local sales tax exemption.
Small business jobs tax credit
A job creation credit designed for qualifying small businesses with 99 or fewer full-time employees worldwide. Eligible companies may qualify with fewer new jobs than required under the standard Job Tax Credit.
“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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