Financial Incentives

State tax information 

  • #1 ranked by Forbes, 2017, Best State for Business
  • #1 ranked by Site Selection, 2017 & 2018 Top Competitive State (Prosperity Cup)
  • #2 ranked by Site Selection, 2017, Top U.S. Business Climate 
  • #4 ranked by EY, 2017, Lowest State & Local Burden 
  • Corporate income tax reduced to 2.5 percent in 2019, the lowest of all 44 states that levy this tax
  • A number of sales and use tax exemptions
    • Manufacturing, Large Fulfillment, Data Centers and Other 

State incentive programs 

  • Job Development Investment Grant (JDIG)
    • Performance-based, discretionary incentive program that provides cash grants to new and expanding businesses to help offset the cost of locating or expanding a business facility in North Carolina. Companies can qualify for a JDIG based on the project location, number of jobs, and average wage.
  • One North Carolina Fund (One NC)
    • A discretionary cash-grant program that allows the governor to respond quickly to competitive job-creation projects. One NC requires a local match. Awards are based on the number of jobs created, investment level, project location and economic impact of the project.
  • Public Infrastructure and Transportation Programs
    •  A number of different programs to fund public infrastructure development.
  • Building Reuse Programs
    • Two different programs to provide grants to renovate and upfit vacant industrial and commercial buildings.
  • Workforce Development and Training Programs
    • Customized training assistance in support of full-time production and direct customer service positions.
  • Other 
    • Recycling Business Development Grants, Building Demolition Programs, Foreign Trade Zones, etc. 

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

Economic Development in
other states

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