CEO Guide to Site Selection

South Carolina

DRIVING A BRIGHT FUTURE

South Carolina has logged massive investments in recent years. In 2023, the state announced more than $9 billion in capital investments, the second-biggest year in the state’s history. It included more than $4.3 billion in investments in automotive, electric vehicles and electric batteries and $1.56 billion in alternative energy and fuels. South Carolina is often referred to as the “buckle” of the battery belt and is one of the only states to have every phase of the battery lifecycle. Close proximity to battery suppliers is also helping attract more automotive companies seeking a home for their EV sectors. “South Carolina has long been known as an automotive powerhouse, and as the industry transitions from internal combustion to electric engines, we are
seeing continued growth,” said Kelly Coakley, director of marketing and communications for the South Carolina Department of Commerce.

“South Carolina’s booming economy has once again created a record budget surplus, this year totaling over $1.64 billion in unexpected revenue.... By thinking big, by being bold and by making transformative investments, I believe we will set our state on a course that will provide the opportunity for prosperity, success and happiness for generations of South Carolinians. Let us continue working together. I believe in South Carolina, I believe in America, and I believe the best is yet to come.”
Henry McMaster
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Tax Competitiveness Index

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 2020 and 2023

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

The SC Nexus for Advanced Resilient Energy received $45 million in funding from the U.S. Department of Commerce’s Economic Development Administration Tech Hubs program. SC Nexus is a consortium of more than 50 public and private member entities and will focus on commercializing emerging energy storage materials and manufacturing techniques.

BIG DEALS

  • eVAC Magnetics announced in December 2023 it will establish U.S. operations in Sumter County. The $500 million investment is expected to create 300 jobs.
  • EnerSys announced in February 2024 a $500 million investment and 500 new jobs in Greenville County.
  • AESC announced in March 2024 a $1.5 billion investment in an electric vehicle battery manufacturing facility and 1,080 new jobs in Florence County.
  • Sandvik Coromant announced in June 2024 a $29.4 million expansion in its Westminster production facility.
  • German company Fenecon announced in July 2024 it will locate its first North American headquarters in Greenville County and create 68 jobs.
  • Google announced in September 2024 it will invest $3.3 billion in two data campuses in the state.
  • Birla Carbon announced in October 2024 it will invest $1 billion in new operations and create 124 jobs in Orangeburg County.

BIG COMPANIES

  • Scout Motors
  • Redwood Materials
  • AESC
  • Google
  • EnerSys
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.