Wednesday, May 23, 2012

Keeping SC money in SC

South Carolina has the chance to pass an incentive for businesses who outlay capital expenses now, today, to reduce operating expenses and use South Carolina produced energy over energy where the fuel source comes from out of state.

If this bill passes $30m in federal tax debt will stay with business owners in SC to be re-invested.

$24.5m dollars of Federal equipment depreciation dollars will stay in SC.

$3,648,000 will be saved in energy costs over 5yrs if this bill is passed.

Between 300-500 jobs will be created by this incentive.  Not one penny will go to anyone until they spend  their own money upfront.

The credit is a one time incentive, it is not a revolving door.

The credit can only go to someone who owns a business in SC and has a building here in SC or who leases a building in SC.

The credit will sunset after five years.

If you are a fiscal conservative or a pro-government progressive this is sound business policy.

This incentive will promote public private partnerships around the state and attract more high profile businesses to SC both big and small.

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