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CEO Guide to Site Selection

South Carolina

A TOP 10 STATE FOR BUSINESS

South Carolina holds the #10 spot in the 2024 Chief Executive Best & Worst States for Business rankings. Last year was a record-breaking year for the state regarding economic development, with more than $10.27 billion in capital investments and 14,083 new jobs. Patton Seed Company, Normont Motion Technology, PDM US, Pallidus and Erchonia all announced headquarters relocations here in the past year. Cathode battery manufacturer Redwood Materials announced in December 2022 a $3.5 billion manufacturing facility and 1,500 new jobs in Berkeley County, the largest economic development project in the state’s history. Electric vehicle manufacturer Scout Motors also announced a $2 billion manufacturing plant in Blythewood that could create 4,000 permanent jobs.

“South Carolina is richly blessed with a hardworking and talented people. Our quality of life and cultural heritage, abundant natural resources and prosperous economy make us unique and attractive to all. In fact, South Carolina is the third-fastest growing state in the nation, according to the U.S. Census Bureau. People want to be here.”
Henry McMaster
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of adults 25 years of age and older graduated high school

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

Corporate Headquarters Tax Credit: Offers a tax credit of up to 20% of the value of the portion of the facility dedicated to headquarters operation. To qualify, the business must create at least 40 full-time jobs, with 20 of those jobs classified as headquarters staff positions.

Investment Tax Credit: Offers a tax credit of up to 2.5% of investment in new production equipment to manufacturers locating or expanding in the state.

Jobs Tax Credit: Offers a credit of $1,500 to $2,500 per job for businesses that create a monthly average of at least 10 net new jobs at a corporate headquarters, manufacturing, distribution, processing, warehousing or R&D facility. Additional $1,000 per job bonus for companies that locate in a multi-county industrial park. 

Job Development Credit: Offers a quarterly cash refund of a portion of the personal withholding taxes of new employees, up to $3,250 per new employee per year for up to 10 years.

ReadySC and Apprenticeship Carolina: Offers recruiting, training and workforce development tools through the South Carolina Technical College System. Eligible business also receive a tax credit of up to $1,000 foreach registered apprentice. Credit may be claimed for up to four years.

EDCs

South Carolina Department of Commerce

sccommerce.com

Columbia Economic Development

choosecolumbiasc.com

Charleston Regional Development Alliance

crda.org

Central SC Alliance

centralsc.org

HIGHLIGHTED PROGRAM OR INITIATIVE

In October 2022, Executive Order 2022-31 developed an interagency working group of six state agencies, collaborating with stakeholders and local governments to develop a comprehensive plan regarding electric vehicles related resources and infrastructure. Part of that included enhancing the state’s EV business development and recruiting and launching an EV-focused website, scpowersev.com.

BIG DEALS

  • Redwood Materials, a producer of battery components for electric vehicles, announced in December 2022 a $3.5 billion investment in Berkeley County that will create up to 1,500 jobs.
  • Japanese electric vehicle batter company AESC announced in December 2022 a $810 million manufacturing facility and up to 1,170 new jobs in Florent County.
  • Scout Motors announced in March 2023 its first manufacturing plant in Blythewood. The $2 billion project will create up to 4,000 jobs and will eventually produce more than 200,000 vehicles annually.
  • Tire manufacturer Tin Thanh Group Americas announced in March 2023 $68 million investment in Allendale County that will create more than 1,000 jobs.
  • Semiconductor manufacturer Pallidus announced in February 2023 a $443 million investment and 405 new jobs in York County.
  • Albermarle Corporation announced in March 2023 a $1.3 billion lithium hydroxide processing facility and 300 new jobs in Chester County.

BIG COMPANIES

  • Scout Motors
  • Redwood Materials
  • AESC
Roundtable

Strategic Planning Workshop

1:00 - 5:00 pm

Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process

Executives expressed frustration with their current strategic planning process. Issues include:

  1. Lack of systematic approach (70%)
  2. Laundry lists without prioritization (68%)
  3. Decisions based on personalities rather than facts and information (65%)

 

Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns.  They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning.  Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process.  This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented.  If you are ready for a Strategic Planning tune-up, select this workshop in your registration form.  The additional fee of $695 will be added to your total.

To sign up, select this option in your registration form. Additional fee of $695 will be added to your total.

New York, NY: ​​​Chief Executive's Corporate Citizenship Awards 2017

Women in Leadership Seminar and Peer Discussion

2:00 - 5:00 pm

Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations. 

Limited space available.

To sign up, select this option in your registration form. Additional fee of $495 will be added to your total.

Golf Outing

10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS

General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.

The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.

To sign up, select this option in your registration form. Additional fee of $295 will be added to your total.