Incentives that Boost the Bottom Line

By locating a business in Chester County, your company may be eligible for lucrative incentives to help develop your project and maximize profits for years to come.

From Fee-In-Lieu of Property Tax agreements that freeze property tax rates for up to 20 years to Job Development Credits which return a portion of employee payroll taxes to your company, we’re committed to making your project successful.

Advantages of South Carolina’s
Pro-Business Policies

60%Sales & Use Tax Rate

South Carolina’s sales and use tax rate is 6%

NOState Property Tax

In SC, only local governments may levy property taxes

50%Corporate Income Tax Rate

At 5%, is among the lowest in the Southeast

Common Incentives Offered to our Eligible Business Partners

Corporate Income Tax Credits

While our corporate tax credits vary, here are some state credits based on capital investment and job creation

  • Jobs Tax Credits are a statutory incentive offered to new and existing companies that create new jobs in the state, and that establish or expand manufacturing facilities, distribution centers, corporate headquarters, research and development facilities, and qualified service-related facilities.
  • Corporate headquarters facility tax credits
  • Child care tax credits (for providing child care benefits)
  • Research and development tax credits (for R&D activities)
  • Textile and retail revitalization credits
  • Port volume increase credits
  • Ethanol and bio-diesel credits

Tax Exemptions

To help your business grow, we offer several exemptions for property and sales taxes

Exemptions and Incentives Against Property Tax

  • No tax on inventory, intangibles, or pollution control equipment.
  • Five-year abatement of the county operating portion of property tax, lowering the millage rate by approximately 33%. Generally, this saves 20-25%, with a low investment requirement of $50,000.
  • Opportunity to negotiate with the county for a fee-in-lieu of property taxes. With a minimum $2.5 million capital investment, a county can substitute a 20-year fee schedule with a reduced assessment rate (as low as 6%) in place of standard property tax payments.
  • Special Source Revenue Credits which are a rebated percentage of paid property taxes used to help offset infrastructure improvements.

Exemptions from Sales Tax

  • Sales tax exemption on manufacturing equipment and electricity.
  • Sales tax exemption on machinery used in research and development.
  • No value-added taxes.
  • No wholesale sales tax.
  • No tax on packaging materials.

Additional Incentives

In addition to tax credits and exemptions, we may offer these incentives for qualifying businesses

  • Multi-County Park Status can enhance Job Tax Credits with an additional $1,000/job for Jobs Tax Credit.
  • Job Development Credits are discretionary incentives that rebate a portion of new employees’ withholding taxes and can be used to address specific needs of individual companies. These credits are approved on a case-by-case basis by the S.C. Coordinating Council for Economic Development (CCED). To qualify, a company must meet certain requirements including paying 50% of health care benefits and a manufacturing wage of $13.16 per hour, and jobs must be for full-time employment.
  • Special Source Revenue Credit can be offered at the county’s discretion to assist a company with specific project costs for a site, site preparation, and infrastructure.
  • Permit Fees may be discounted based upon a company’s investment and number of jobs.
  • Grants may be applied for and secured by Chester County to help a company initiate its business.
  • Land cost write-downs or subsidies may be available if a company chooses to build on county property.
  • Utility rate economic development riders or other incentives may apply.
  • Recruiting, screening, pre-employment training, post-hire training, and incumbent training can be made available through readySC™ – a state program which focuses on the training needs of new and existing businesses and industries in South Carolina. Examples include ISO 9000, Total Quality Management, World Class Concepts, and Team Building classes.

For specific incentives applicable to your company, contact us directly.