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Florence County is located in the northeastern quadrant of the state of South Carolina in the coastal plain physiographic region. The county’s eastern boundary is the Great Pee Dee River, a system whose drainage basin consists of some 8,830 square miles within North Carolina and South Carolina. At its eastern point, Florence County is less than 50 miles inland from the Atlantic Ocean. The broad coastal plain region of the southeast United States is characterized by nutrient-rich sandy loam soils that are ideal for the production of a variety of agricultural crops. Historically a cotton growing area, the greater Florence Region is now recognized as the center of the "flue cured" or "bright" tobacco belt in the United States. Other prominent agricultural products include soybeans, coastal hay, and both hardwood and softwood forest products. Florence County’s climate is best described as temperate, but with four distinct seasons. While occasional "polar express" air masses reach the area during winter, it is highly unusual for daily high temperatures to remain below 50 degrees fahrenheit. The average growing season in the area is 241 days. |
South Carolina ranks #1 in the “Pollina Corporate Top 10
Pro-Business States”
Pollina Corporate Real Estate recently released its “Pollina Corporate Top 10 Pro-Business States” study, which examines 29 factors relative to states’ efforts to be pro-business. The annual study, which is expanded for this year, reflects state leadership that truly understands the importance of producing the best job opportunities available for their residents. These state governments understand they must be proactive in the international battle to keep and attract jobs. The top states were selected based on those factors that are most important to corporate executives and can be controlled by a state’s political leaders. The top 10 pro-business states are:
1. South Carolina
2. Virginia
3. South Dakota
4. North Carolina
5. Alabama
6. Wyoming
7. Georgia
8. Washington
9. Florida
10. Oklahoma
Those states found to have a high tax structure, regulatory red tape and weak economic development programs include: California, New York, Illinois and Ohio. |
INCENTIVES
I. Statewide Incentives
A) Credits Against South Carolina Corporate Income Taxes
• Jobs Tax Credit: ($1,500--$4,500) per new job x 5 years depending upon location with Florence
County’s credit at $2,500 per new job.
• Unused credits can be carried forward 15 years.
• A county may also join with another county to form a “multi-county industrial park” to raise the
value of the Jobs Tax Credit by $1,000 per job to the above Jobs Tax Credits.• Corporate Headquarters Credit equal to 20% of the costs of development, construction or direct lease costs during the first five years of operations.• Enhanced Corporate Headquarters Credit of 20% for personal property purchased for
headquarters when employee compensation levels exceed 1 ½ times the state per capita income average.
• Economic Impact Zone Investment Tax Credit of up to 5% of the costs of a manufacturer’s new production equipment in certain counties.
• Child Care Credit for establishment and operation of a day care facility for employees up to
$100,000 for capital expenses and up to $3,000 per employee for operating costs.
• South Carolina offers a credit equal to 5% of the taxpayer’s qualified expenditures for research
and development made in the state. The credit taken in any one tax year may not exceed 50% of
the company’s remaining tax liability after all other credits have been applied with a 10-year
carry forward for any unused portion of the credit from the date of the qualified expenditure.
B) State and Local Sales Taxes
• State Sales Tax at 5% with Florence County’s Local Option Sales Tax adding another 1%.
• Out-of-State sales exempted.
• Tax Credit for Out-of-State purchases of tangible personal property.
• Manufacturers are exempt form S.C. Sales Taxes on machinery and equipment, research and
development machinery and equipment, repair parts, materials which will become a integral
part of a finished product, electricity utilized in the manufacturing process and all pollution
control equipment.• All industries in S.C. are exempt from sales taxes on packaging materials
and long distance telecommunications, including 800 services.
• S.C. Sales Taxes are capped at $300 for equipment utilized in research and development and on aircraft, motor vehicles, boats, recreational vehicles and certain other items.• Material handling equipment is exempt from S.C. Sales tax for manufacturers and distributors who invest a minimum of $35 million in the project.• South Carolina provides a $300 maximum sales tax cap on the sale or lease of aircraft, motor vehicles, motorcycles, boats, recreational vehicles, and other items.
INCENTIVES
C) Enterprise Program - - Job Development Credit (JDC)
• Provides companies with funds to offset the cost of locating or expanding a business facility in S.C. by allowing qualifying companies to utilize a portion of their employee’s tax withholding for eligible project expenses.• Reimburses qualifying approved companies that add value to South Carolina or the community in which they locate. A company can collect the credit for up to 15 years.• Reimbursements are for eligible capital expenditures (land, building improvements, site development, or infrastructure), certain training expenses, transportation facilities, the purchase/acquisition of pollution control equipment, and employee relocation expensesassociated with new or expanded technology intensive facilities.• Associated with projects creating new full-time jobs and providing health care benefits for S.C. citizens.
• The Job Development Credit program varies from 2% to 5% of eligible tax withholdings based on average hourly wages paid.
• The Jobs Development Credit also varies by location from 55% to 100% of eligible employee tax withholdings depending upon the economic conditions existing in the county where the investment occurs.
• To be eligible to apply for the JDC, a company must create at least 10 net new full-time jobs at the facility based on the average monthly employment. The company must also pay a $4,000 application fee to the state Coordinating Council for Economic Development (CCED), receive a positive cost/benefit certification from the CCED, and pay a $500 annual renewal fee.
• The CCED may only allow companies to collect Job Development Credits on those jobs that pay an hourly wage equal to or more than the county’s average per capita income.
D) Retraining of Employees of Existing Industries
• Eligible businesses may negotiate with the CCED for a refund of up to $500 per production employee per year for retraining. The retraining must be necessary for the business to remain competitive or to introduce new technologies.• The retraining must be approved and coordinated by the technical college(s) under the jurisdiction of the State Board for Technical and Comprehensive Education serving the approved business.
• The company must match the employee’s withholding share and all funds are to be paid to the technical college providing the training. Companies are not allowed to claim Job Development Credits and Retraining Credits from the same employee.
• A company must submit an application with a $500 application fee to the CCED.
II. LOCAL INCENTIVES
A. Five-Year Property Tax Abatement
• Manufacturers, distributors and certain other kinds of businesses are exempt from County ordinary and County Operating Taxes for the first five (5) years of operations.• This results in an average 30-35% reduction in both real and personal property taxes for the first five years.
INCENTIVES
B. Fee-In-Lieu of Property Taxes
• Allows qualifying investments to negotiate with local governments a fee schedule in lieu of the normal property tax schedule.• Allows a reduction in the assessment rate for both real and personal property from 10.5% (for manufacturers) down to as low as 6%.
• Allows negotiation of a payment stream schedule to meet the financing needs of the company.
• In certain cases, allows the negotiation of a levelized payment stream and the timing of payments.• For investments of greater than $400 million, which create at least 200 new jobs, the assessment rate can be negotiated down to as low as 4%.
C. Other Incentives
South Carolina and Florence County have taken highly aggressive postures in utilizing customized incentives to attract, retain and expand business enterprises. The utilization of state and local discretionary economic development incentives has been court-tested in South Carolina, ultimately leading to the declaration that economic development is a public purpose in the State of South Carolina. Among various discretionary incentives that have been utilized from time to time in Florence County are the following:
• The extension of water and wastewater systems to a company’s site.
• The utilization of public funds and equipment to perform preliminary site development.
• A reduction in the cost of land for the purpose of attracting new companies.
• The development and extension of transportation infrastructure to a company’s site.
Florence County employs economic impact modeling to assess the applicability of discretionary incentives to all projects. The level of capital investment, employment, wage rates, local procurement budget and other factors are carefully weighed in determining the applicability of incentives on a project-by-project basis. Florence County also considers such factors as the company’s financial position, environmental compliance record, employee relations history and other factors in making incentive decisions.
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Manufacturing (Real & Personal Property)
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Standard
Taxes
No Five Year Exemption
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Taxes
Including
Five Year Exemption**
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Taxes
With
Fee-In-Lieu Agreement***
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| Least Case‡ |
2.38%
|
1.64%
|
1.36%
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| Median Case‡ |
3.10%
|
2.365%
|
1.71%
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| Highest Case‡ |
3.82%
|
3.09%
|
2.06%
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Commercial (Real Property)
| Least Case‡ |
1.67% |
| Median Case‡ |
2.135% |
| Highest Case‡ |
2.60% |
Residential (Owner Occupied Real Property)
|
Fair Market Value
less than $100,000 |
Fair Market Value
greater than $100,000 |
| Least Case‡ |
.62% |
.76% |
| Median Case‡ |
.805% |
.945% |
| Highest Case‡ |
.99% |
1.13% |
Personal Property (Commercial & Private Individuals)
| Least Case‡ |
2.38% |
| Median Case‡ |
3.10% |
| Highest Case‡ |
3.82% |
All figures are based on new Millage Rates which were issued in October, 2003.
*Effective Tax Rates are expressed as a percentage of the Fair Market Value of the property.
** South Carolina requires counties to exempt new and expanding industries from county operating taxes for the first five years.
*** For investments of $5 million or greater, Florence County may negotiate a Fee-In-Lieu-of-Taxes Agreement with the company which can reduce the Assessment Ratio to as low as 6%. Companies are not allowed to take advantage of both the five year exemption (*) and the Fee-In-Lieu-of-Taxes incentives.
‡ The variance in Effective Tax Rates is due to variances in Millage Rates across the county. There are thirty (30) different tax districts in Florence County. The "Least Case" is based on the district with the lowest Millage Rate, while the "Highest Case" is for property located in the district with the highest Millage Rate. The "Median Case" is based on a theoretical district wherein exactly one-half of the Millage Rates in the various districts are higher and one-half are lower. |
Florence County is the hub of the dynamic northeastern South Carolina market area.
» Current Population at 1,042,013 in a 60-mile radius
» Civilian Labor Force exceeding 387,226 in a 60-mile radius
» Prime Working age component of the region’s population in excess of 278,000
people and projected to grow to nearly 281,000 people by 2008, thereby ensuring
a continual re-supply of available employees
» Cost-of-Living at 96.3% of the national average.
Florence County Population:
| 1980 |
110,163 |
| 1990 |
114,344 |
| 2000 |
125,761 |
| 2005 (estimate) |
132,356 |
| 2008 (projected) |
167,720 |
Source: US Census Data
Florence Region Population:
| 1990 |
454,908 |
| 2000 |
482,645 |
Florence & all contiguous counties including: Clarendon, Darlington, Dillon, Lee, Marion, Marlboro, Sumter, & Williamsburg Counties. Source: US Census Data
Population by 30, 40, & 60 Mile Radii:
|
30 miles |
40 miles |
60 miles |
| 1990 |
267,585 |
400,027 |
907,800 |
| 2000 |
284,762 |
429,895 |
1,002,820 |
| 2005 |
289,198 |
438,731 |
1,042,013 |
Source: CACI Marketing Systems, using radii as measured from the intersection of I-95 & SR 327 in Florence, SC.
2005 Population by Race:
|
30 Miles |
40 Miles |
60 Miles |
| White |
55.2% |
53.2% |
55.1% |
| Black |
43.5% |
41.9% |
37.8% |
| Other Races |
1.3% |
4.9% |
7.1% |
| Hispanic |
1.1% |
1.3% |
1.6% |
Source: CACI Marketing Systems, using radii as measured from the intersection of I-95 & SR 327 in Florence, SC.
Households by 30, 40, & 60 Mile Radii:
|
30 Miles |
40 Miles |
60 Miles |
| 1990 |
93,557 |
139,316 |
315,026 |
| 2000 |
104,954 |
156,073 |
359,598 |
| 2005 |
109,483 |
163,135 |
380,745 |
Source: CACI Marketing Systems, using radii as measured from the intersection of I-95 & SR 327 in Florence, SC.
Median Household Income:
|
30 Miles |
40 Miles |
60 Miles |
| 1990 |
$21,491 |
$21,052 |
$21,347 |
| 2000 |
$31,571 |
$30,966 |
$31,469 |
| 2005 |
$35,743 |
$35,220 |
$36,083 |
Source: CACI Marketing Systems, using radii as measured from the intersection of I-95 & SR 327 in Florence, SC
2005 Age Population:
|
30 Miles |
40 Miles |
60 Miles |
| <5 |
6.2% |
6.3% |
6.7% |
| 5-14 |
13.9% |
14.2% |
14.5% |
| 15-19 |
7.6% |
7.6% |
7.5% |
| 20-24 |
7.2% |
7.1% |
7.1% |
| 25-34 |
12.7% |
12.7% |
13.2% |
| 35-44 |
14.0% |
13.9% |
14.0% |
| 45-54 |
15.7% |
15.4% |
14.7% |
| 55-64 |
10.8% |
10.8% |
10.5% |
| 65-74 |
6.5% |
6.5% |
6.5% |
| 75-84 |
4.1% |
4.1% |
4.1% |
| 85+ |
1.4% |
1.4% |
1.3% |
| 18+ |
75.3% |
74.8% |
74.2% |
| Median Age |
37.0 |
36.6 |
35.8 |
Source: CACI Marketing Systems, using radii as measured from the intersection of I-95 & SR 327 in Florence, SC
Florence MSA Cost of Living 2nd Quarter- 2006
Based on a U.S. National Index of 100.0
| Grocery Items |
104.4 |
| Housing |
79.9 |
| Utilities |
97.5 |
| Transportation |
99.9 |
| Health Care |
95.5 |
| Misc. Goods & Services |
97.0 |
| Florence MSA Composite |
93.5 |
Source: ACCRA Cost of Living Index, 2nd Quarter, 2006. A cumulative score of 93.5 on a scale of 100.0 indicates that the Florence, MSA Cost of Living is approximately 6.5 points below the national average. |
Service providers in Florence County have invested heavily in the infrastructure required to support the needs of today’s sophisticated business and industries. Some examples appear below:
Water/Wastewater:
Florence County is served by eight public water/wastewater entities with the City of Florence being the primary provider. The City of Johnsonville, City of Lake City, Town of Coward, Town of Olanta, Town of Pamplico, Town of Scranton, and the Town of Timmonsville operate additional systems.
Further details on the City of Florence Water/Wastewater System:
Water System Capacity is 19.2 mgd, Average Daily Usage-Water is 11.8 mgd, Wastewater System Capacity is 15.0 mgd, and Average Daily Usage-Wastewater is 9.2 mgd. A new 10 mgd regional water treatment facility came on line in early 2003. Expandable to 50 mgd, this facility provides the potable water needs of the entire region for decades.
Electricity:
Suppliers compete for new customers in certain locations in Florence County. Supplies of electricity are abundant for the future and service reliability is rated among the best in the nation. Incentive rates are available to both new and expanding business and industry under certain conditions.
» Pee Dee Electric Cooperative, Inc.
» Progress Energy, Inc.
Natural Gas:
Is likewise available in abundant supplies for both firm and interruptible customers in most portions of Florence County.
» SCE&G, a SCANA Company
Telecommunications:
Florence County has a state-of-the-art telecommunications system. Fiber optic cable and ISDN service have been deployed extensively throughout the county. A full array of broadband data and e-commerce services are available in many areas for business customers, including web hosting and other Internet services. DSL high-speed Internet access and other advanced voice features are available in many areas as well. Time Warner Cable offers high speed internet and point to point data lines to customers in most of the Florence County area.
» BellSouth
» Time Warner Cable of SC
Airline Service:
Florence Regional Airport has commercial service to/from Charlotte, NC six times daily via US Airways Express and to/from Atlanta, GA three times daily via Delta Connection. Using either of the airport's carriers: US Airways (Star Alliance) or Delta (SkyTeam) one can fly directly and conveniently into the Florence, SC area. The airport has a Category 1 ILS rating and a full-service FBO for corporate aircraft.
» Florence Regional Airport (FLO)
Ports:
Florence County has direct four lane highway and rail connections to the Ports of Charleston, SC (97 miles) and Wilmington, NC (105 miles).
» SC Port of Charleston, SC
Highways:
Florence County is served by Interstate Highways I-20 and I-95. In addition, there are four major U.S. Highways traversing Florence County. The average commuting time to work in Florence County is 18.9 minutes.
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Florence County Trucking Companies
Company Contact Name Address Phone # Type
Ard's Truck Co Inc. Max McCaskill 929 Indian Branch Road, Darlington, SC 29532 (843) 393-5101 Enclosed trailers
Averitt Express Dean Musso 2305 Mechanicsville Road Florence, SC 29501 (843) 661-5707 Enclosed trailers
Baker Transportation Billy Baker 4021 N. Williamsburg Hwy, Lake City, SC 29560 (843) 389-2572 Flat-bed, Enclosed, & Dump Trucks
Brono Transportation Services Bob Self Post Office Box 322 Florence, SC 29503 (843) 665-0709 Flat-bed, Enclosed, & Dump Trucks
FedEx Freight 2901 West Black Creeek Road, Florence, SC 29501 (843) 679-0506
Jones Brothers Transport, Inc. Sly Jones 3019 TV Road, Florence, SC 29501 (843) 667-4585 Dump trucks
Old Dominion Freight Lines Todd Brantley 1528 South Main Street Darlington, SC 29532 (843) 393-9004 Flat-bed & Enclosed
Palmetto Transport Jimmy Parker 2021 W. Sumter Street, Florence, SC 29501 (843) 662-7788 Flat-bed
Perkins Transfer Service Frankie Perkins 2230 Baber Lane Suite 2 Florence, SC 29501 (843) 667-1261 Flat-bed
SHE's Trucking, Inc. Stanford Hanna 917 Pocket Road, Darlington, SC 29532 (843) 393-6167 Dump trucks
Southeastern Freight Line Charles Crosby Post Office Box 3613 Florence, SC 29502 (843) 669-2161 Enclosed trailers
SouthEast Express, Inc. Ken Parker 2222 Cale Yarborough Highway Timmonsville, SC 29161 (843) 346-0244 (Honda)
TP Trucking Todd Peters 2712 Blackmon Road, Florence, SC, 29501 (843) 669-2600 Enclosed trailers (53')
Weaver of SC Joann Weaver 1432 Pamplico Hwy, Florence, SC 29501 (843) 629-9700 Dump trucks
The Match Maker, Inc. Bert Belk Post Office Box 13259 Florence, SC 29504 (843) 665-4968 Broker
Palmetto Transportation Michael Baker 4021 N. Williamsburg Hwy, Lake City, SC 29560 (800) 617-7088 Broker
Professional Transport Systems, Inc. Cindy Szezucki Post Office Drawer 5925 Florence, SC 29502 (843) 393-4900 Broker
WalkerTemple Logistics Group, LLC Chad Walker 2410 Hunters Ridge Road, Florence, SC 29506 (843)676-8858 Broker
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Florence County Unemployment:
|
Nov. 2004 |
August 2005 |
August 2006 |
| Labor Force |
63,360 |
61,650 |
63,660 |
| # Unemployed |
5,400 |
5,400 |
4,980 |
| Unemployment Rate |
8.5% |
8.8% |
7.8% |
» Average Labor Force 2004 through 2006: 62,890
» Average unemployed workers 2004 through 2006: 5,260
» Average unemployment rate 2004 through 2006: 8.3%
Based on Florence County's labor force and number of unemployed workers from August 2005 to August 2006, the labor force grew by 2,010 workers; while the number of unemployed workers decreased by 420 workers, showing an increase of 1,590 employed workers. Source: South Carolina Employment Security Commission
Florence Region Labor Market - August 2006
| County |
Total Labor Force |
# Unemployed |
% Unemployed |
| Clarendon |
13,570 |
1,220 |
9.0% |
| Darlington |
32,270 |
2,750 |
8.5% |
| Dillon |
14,600 |
1,330 |
9.1% |
| Florence |
63,660 |
4,980 |
7.8% |
| Lee |
8,860 |
820 |
9.2% |
| Marion |
14,580 |
1,670 |
11.5% |
| Marlboro |
13,100 |
1,340 |
10.2% |
| Sumter MSA |
48,530 |
4,020 |
8.3% |
| Williamsburg |
16,560 |
1,530 |
9.3% |
| Region Total |
225,730 |
19,660 |
9.2% |
| SC Total |
2,118,600 |
132,200 |
6.5% |
| % Region of SC Total |
10.7% |
14.8% |
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|
|
|
|
| US Average |
|
|
4.7% |
*Florence County ranked 1st out of the 9 counties in the Florence Region Labor Market, August 2006.
*Florence County ranked 23rd out of the 46 counties in South Carolina, August 2006.
*Florence County ranked 3rd out of the 9 counties in the North Eastern Strategic Alliance (NESA), August 2006.
The Pee Dee Region is Florence, Marion, Dillon, Marlboro, Chesterfield, & Darlington Counties.
NESA is Florence, Marion, Dillon, Marlboro, Chesterfield, Darlington, Georgetown, Horry & Williamsburg Counties
** Labor Force data are adjusted to the Current Population Survey benchmark and represent the estimated number of people employed and unemployed by county of residence. This data includes agricultural workers, proprietors, self employed, domestic workers and unpaid family workers.
Source: Calculated from Workforce Trends Newsline, October, 2006. South Carolina Employment Security Commission
2005 Employment by Industry
Since 1997, companies such as Honda, Roche, General Electric and others have created more than 3,000 jobs in Florence County via the construction of new facilities or the expansion of existing operations. South Carolina’s Center for Accelerated Training (CATT) has provided recruitment and pre-employment training services for approximately half of these new positions. The average ratio of applicants to openings for these new jobs has been 11.5 to 1 (i.e., for every potential new job, more than 11 applicants have applied for each training slot).
Nonagricultural Employment for Florence MSA:
Median Household Income:
|
30 Miles |
40 Miles |
60 Miles |
| 1990 |
$21,491 |
$21,052 |
$21,347 |
| 2000 |
$31,571 |
$30,966 |
$31,469 |
| 2005 |
$35,743 |
$35,220 |
$36,083 |
Source: CACI Marketing Systems, using radii as measured from the intersection of I-95 & SR 327 in Florence, SC
Florence County Gross Retail Sales & Net Taxable Sales Data:
| Fiscal Year (July to June) |
Gross Sales |
Net Taxable Sales |
| 2000-2001 |
$3,779,812,020 |
$1,629,404,970 |
| 2001-2002 |
$3,558,746,845 |
$1,625,924,620 |
| 2002-2003 |
$3,205,691,023 |
$1,532,245,767 |
| 2003-2004 |
$3,094,418,263 |
$1,400,708,934 |
Florence County is ranked number 7 out of the 46 counties in South Carolina (1-Charleston, 2-Richland, 3-Greenville, 4-Lexington, 5-Spartanburg, 6-Horry)
Source: South Carolina Department of Revenue
Miscellaneous Labor Data for Florence County:
| Males in Labor Force |
47% |
| Females in Labor Force |
53% |
| Population Working Outside the County |
12.3% |
| Average Commute Time to Work |
18.9 minutes |
Source: South Carolina Department of Commerce, Census Data
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Southeastern Institute for Manufacturing and Technology:
SIMT from Florence-Darlington Technical College, currently under construction in Florence County will provide a 400,000 square foot facility that will be the hub for advanced technical training for the area in a variety of highly specialized fields. With the combination of Florence-Darlington Technical College's existing resources and the new SIMT, every new industry has a wealth of training and educational resources at their disposal.
What is the rationale and logic behind the creation of SIMT?
- Many U.S. manufacturing entities are currently undergoing radical reinventions of themselves. Technological advancements are driving this change. Because much of this change involves new and highly technical equipment, a substantial amount of this manufacturing activity will remain onshore. These new entities will require fewer employees, but they will be highly trained.
- A major factor in efforts to recruit these new industries to the Pee Dee area and the Southeast will rest upon the region’s ability to provide a highly trained workforce. SIMT is a response to the high level of support needed by area industry.
- An extensive marketing study has shown a significant need for technical training throughout the Southeast. In fact, the study found that industries are willing to send workers out-of-state for training and are willing to contract for training from out-of-state entities.
SIMT will provide...
- Another economic development asset for the Pee Dee region of South Carolina
- A significant support structure for our existing businesses
- A source of training geared specifically for high tech manufacturing in the South
- An avenue for manufacturing and technical training for surrounding states
- A source of revenue to support itself and allow it to operate on its own
» For more information on SIMT, visit www.simt.com
Center for Advanced Technology Training
Florence-Darlington Technical College is a member of the South Carolina Technical College System and together, these organizations have extensive resources and success stories. Established in 1961, CATT is one of the oldest and most experienced workforce training programs in the United States. CATT works with companies that are starting up, expanding or relocating anywhere in South Carolina, providing a full range of facilitation services. These include workforce recruiting and testing, curriculum and materials development, customized training and project management. Best of all, CATT's services are provided through state tax dollars at minimal or no cost to the qualifying client.
» For more details, visit www.cattsc.com |
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