Job Development Credit
Uses employee withholding taxes to reimburse approved South Carolina companies for eligible expansion and relocation costs.
About this program
South Carolina's Job Development Credit is a discretionary, performance-based incentive administered by the Coordinating Council for Economic Development. Approved companies may use a portion of new employees' South Carolina withholding taxes to reimburse eligible project costs such as land, buildings, site development, pollution control equipment, and infrastructure associated with locating or expanding a business facility in the state.
Eligibility
Eligible applicants are companies that meet qualified facility requirements, create new full-time jobs in South Carolina, provide required health benefits, and receive approval from the Coordinating Council for Economic Development.
Requirements
- Company must meet requirements for a qualifying facility such as manufacturing, processing, corporate office, warehousing and distribution, research and development, agribusiness, tourism, or qualified service-related facility.
- Company must create at least 10 new full-time jobs, or meet additional service-facility thresholds if applicable.
- Company must provide full-time employees with a benefits package that includes a comprehensive health plan and pay at least 50% of eligible employee health plan premiums.