A tire manufacturer that has over one billion dollars in capital investment in this State and employs over five thousand workers in this State may, after certification by the council, designate up to two census tracts, but not to exceed four hundred acres per site, in any area of the State as an enterprise zone provided that a capital investment of at least one hundred million dollars be made over a five-year period at each site. The tire manufacturer's capital investment must be based upon the gross cost of assets in South Carolina as shown on the manufacturer's property tax and fee-in-lieu of property tax filings. The council will certify the manufacturer if it determines that the available incentives are appropriate for the new project, the total benefits of the new project exceed the costs to the public, and the qualifying business otherwise fulfills the requirements of this chapter.
S.C. Code Ann. § 12-10-45
Designation of census tract by tire manufacturer as enterprise zone; certification of tire manufacturer
Known as the Enterprise Zone Act
The act spans §§ 12–12 (18 sections).
1996 Act No. 231, SECTION 6; 2024 Act No. 222 (H.4087), SECTION 3, eff July 2, 2024.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.