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State Incentives
The Job Development Credit (JDC) gives the state the power to become an investor in qualified projects creating jobs in the State. Eligible companies may retain up to five (5) percent of their employee's state withholding for up to 10 - 15 years.
Qualifications: A company must be a manufacturer, processor, warehouse, distributor, researcher and developer, corporate headquarters, office facility, or involved in tourism. Create a least 10 new full-time jobs or 250 jobs for office projects; provide full-time employees a benefits package which includes health care; and submit an application to the South Carolina Coordinating Council providing an approved expenditure plan for the JDC Funds ($4,000 fee). There is no minimum capital investment requirement, although a company is required to sign a "Revitalization Agreement" with the SC Coordinating Council stating that the project is of greater benefit than cost to the state. A company has five (5) years from the date of the agreement to obtain project investment and employment levels.
Application: JDC's may be used for the following expenditures: the purchase and improvement of real property; infrastructure; pollution control equipment; transportation facilities; employee training; and in some instances, lease payments (at the discretion of the Coordinating Council). A company must enter into an agreement prior to incurring expenditures to be paid for by JDC's. These funds come from new employees' state personal withholding tax the company retains and are not financially affected.
Value: The percentage which may be withheld by the company is shown below:
| Wage Rates | Job Development Fee |
| $7.86 - $10.49 | 2% |
| $10.50 - $13.11 | 3% |
| $13.12 - $19.68 | 4% |
| $19.69 and Greater | 5% |
Laurens County is classified as a least developed county and a company may retain 100% of the fee.
| JDC Sample Calculation: | |
| Jobs in Year | 100 |
| Average Salary | $12.02/hr |
| Number of Hours Worked | x2,000 |
| Total Payroll in Year 1 | $2,404,000 |
| Job Development Fee | x3% |
| Laurens County Ratio | x100% |
| Annual Value of JDF | $72,120 |
| Total 15-Year Value | $1,081,800 |
Job Creation Tax Credit
South Carolina provides a corporate income tax credit for companies that create new jobs through the location of a new facility in the state or the expansion of an existing facility.
Qualifications: Companies must be involved in manufacturing, processing, warehousing, distribution, research and development, tourism, or corporate headquarters facilities; create a minimum of ten (10) new jobs; office facilities are eligible but are required to create 250 new jobs.
Applications: The credit can be applied to one-half of the corporate income tax liability with a fifteen (15) year carry forward on any unused portion. The credit applies for each new full-time position for five (5) years beginning during years 2-6.
Value: The tax credit in Laurens County is $4,500 per job, with an additional $1,000 for any property located in a multi-county park.
