411 Sunset Drive | Manning, SC 29102
Enterprise Job Development Credit
The Job Development Credit is a unique incentive that allows South Carolina to help companies significantly reduce, or in some cases completely offset, certain approved capital expenditures over a 10-year period. Unlike tax credits or exemptions, this incentive is credited quarterly as a direct cash contribution. Companies can expect to collect Job Development Credits only from employees earning an hourly wage equal to or more than the Clarendon County average. If approved, companies may be reimbursed for portions of the following types of expenditures:
- Land acquisition, building construction, site/building improvements including some tenant improvements to leased property, and most build-to-suit leases.
- Public and private utility system upgrades (water, wastewater, electricity, natural gas, and telecommunications).
- Purchase/acquisition of pollution control equipment (equipment required to meet federal and state environmental requirements).
- Approved training costs, including training facilities, not covered by the readySC™ program.
To qualify, a company must create at least 10 net new full-time jobs or equivalents with a benefits package that includes health care. Only qualifying capital investments made within five years after the application has been approved (and any similar investments made 60 days prior to approval) can be considered for reimbursement.