Rick Brundrett, reporting at The Nerve writes that “National corporate headquarters that locate or expand in South Carolina would be exempt from paying state corporate income taxes for 10 years if they created at least 50 full-time jobs, under a bill (H. 3720) by the S.C. House’s chief budget writer.”
Contacted recently by The Nerve, Rep. Phyllis Henderson, R-Greenville and one of the bill’s two co-sponsors, said she didn’t know if the bill was drafted with any particular company in mind. But she said she believes that the proposed incentives are necessary to help attract national headquarters and high-tech firms.
“This was all created to make us more competitive with our neighboring states,” said Henderson, a former board member of the Greenville Area Development Corporation who was first elected to the House last year. “We’ve got to keep our statutes up to date with cutting-edge technology.”
Henderson, a former Greenville County Council chairwoman, said she was informed that South Carolina recently lost bids for data processing centers to North Carolina.
Read Rick’s article, full of facts as always, and comment in the comments section about these incentives. Okay with you as long as not targeted to a specific company? Is the “job creating” requirement a good trade-off? Let’s hear from you.