Rural infrastructure fund
South Carolina’s Rural Infrastructure Fund (RIF) provides grant funding to eligible local governments in rural areas for infrastructure and other economic development projects that support business growth and site readiness.
For companies considering a new location or expansion, RIF funding can help local partners address infrastructure, site and development needs that may be critical to moving a project forward.
Overview
The Rural Infrastructure Fund is administered by the South Carolina Coordinating Council for Economic Development (Coordinating Council) and is designed to support economic growth in South Carolina’s rural communities.
RIF may support both business development projects tied to new jobs and capital investment and broader product development or community development efforts that improve a region’s economic competitiveness. Eligible activities may include infrastructure improvements, industrial sites and buildings, workforce-related investments and other qualifying economic development projects.
Eligibility
RIF grants are generally available to local governments in counties designated as Tier III or Tier IV for Job Tax Credit purposes.
Because the local government is the grant applicant, companies do not apply directly for RIF funding. For business development projects, SC Commerce works with the company and local partners to identify eligible project needs and determine whether RIF may be an appropriate funding source.
Eligible project activities
RIF may support qualifying infrastructure and economic development activities such as:
- Roads and related infrastructure
- Rail spurs
- Water and sewer system improvements
- Drainage
- Right-of-way acquisition
- Site and product development
- Speculative building assistance
- Training costs and facilities
- Other qualifying economic development activities
Funding eligibility depends on the project, location and applicable Coordinating Council requirements.
How funding works
RIF is a discretionary grant program. The Coordinating Council evaluates funding requests individually and determines whether assistance is appropriate based on the needs and economic impact of the project.
For competitive business development projects, considerations may include:
- Job creation and anticipated wages
- Capital investment
- Industry and project type
- Project competitiveness
- Infrastructure needs
- Cost and cost-effectiveness
- Other funding available for the project
- Anticipated economic benefits to the community and state
Business development grants are tied to specific job creation and capital investment commitments. Approved projects generally require a performance agreement that establishes those commitments and allows the Coordinating Council to recapture a portion of the grant if they are not met.
Application process
For business development projects, the SC Commerce project team works with the company and local government to identify potential funding needs and determine whether the project may be eligible for RIF assistance.
If the project meets applicable program and evaluation criteria, the local government may be invited to submit a formal application to SC Commerce.
Funding requests are reviewed by Coordinating Council staff and presented to the Coordinating Council for approval. If funding is awarded, 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.
Interested in RIF funding?
Companies considering a new location or expansion should connect with an incentives expert to discuss project needs and potential eligibility. SC Commerce can help coordinate the process with eligible local partners.
Frequently asked questions
Find incentives for your business
Download our Incentives Guide
