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Financial Incentives

South Carolina is dedicated to providing one of the nation's most pro-business tax and incentive structures creating a favorable environment where companies can grow and prosper.

Energy-saving discounts

Duke Energy offers a variety of rates for business and industry. We have small, medium and large general service schedules including time-of-use choices. Additionally, a number of economic development riders are available for qualifying customers to reduce costs even further.

We also help businesses manage their energy bills by offering incentives for energy-efficiency improvements that include new construction or retrofit projects. Learn more about our Energy Efficiency for Business program

State tax advantages

  • Low 5 percent corporate income tax rate and no local corporate income tax. 
  • No state property tax.
  • No inventory tax.
  • No sales tax on manufacturing machinery, industrial power or materials for finished products.
  • No wholesale tax.
  • No unitary tax on worldwide profits.
  • Favorable corporate income tax structure.

State incentive programs

  • Jobs Tax Credit - significant income tax reductions based on job creation.
  • Job Development Credit - discretionary, performance-based company rebate for approved project expenditures.
  • Economic Impact Zone Investment Credit (EIZ) - one-time credit against a company’s corporate income tax of up to 5 percent of a company’s investment in new production equipment. 
  • Corporate Headquarters Credit - 20 percent credit based on the cost of the dedicated headquarters facility or direct lease costs for the first five years of operation.
  • Research and Development Tax Credit - credit equal to 5 percent of the taxpayer’s qualified research expenses in the state.
  • Economic Development Set-Aside Program - assists companies with road or site improvements and other costs related to business location or expansion.

Source: S.C. Department of Commerce

Go To: NC - FL

For more information, contact us.

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