Discretionary Incentives

Performance based incentives provided by the State of South Carolina

Corporate Headquarters Credit

A performance-based incentive, Job Development Credits (JDC) provides companies with funds to offset the cost of locating or expanding a business facility in the state by allowing them to use a portion of new employees’ withholding taxes for eligible project expenses. A company can collect the credit for up to 15 years.

Port Volume Increase Credit

South Carolina provides income tax credits to qualifying companies that use state port facilities and increase base port cargo volume by 5 percent over base year totals. To qualify, a company must have 75 net tons of non-containerized cargo or 10 loaded TEUs transported through a South Carolina port for their base year. Tax credits are limited to $8 million per calendar year.

Economic Development Set-Aside Program

The primary business development tool for the CCED, this program provides funds for road or site improvements and other costs related to business location or expansion.

Rural Infrastructure Fund

The Rural Infrastructure Fund (RIF) provides qualified counties in the stat’s rural areas with financial assistance for infrastructure and other activities that enhance economic growth and development. The fund can also be used for job creation and product development.