department of economic development
Financing and Business Incentives
Development Assistance
Commercial Corridors Façade Improvement Program
Provides financial and technical design assistance to property owners and business
owners in targeted commercial corridors for qualified exterior building and site
improvements. Program offers grants for a maximum of 20% of total cost of improvements,
with a $10,000 maximum award. Currently available in the Augusta Road and Pleasantburg
Drive corridors.
Download Program Guidelines
and Application
Small Business Loan Programs
A variety of state and local agencies provide loan programs for existing and new
businesses which can be used for working capital, real estate acquisition and redevelopment,
equipment and inventory, building renovations, etc.
More Small Business Loan Information
Community Development Revitalization Programs
Provide financial and technical assistance for repairs to owner and renter occupied
residential structures, as well as homebuyer education and mortgage assistance,
in the City's Special
Emphasis Neighborhoods.
Land Assembly and Infrastructure Improvements
Provides City assistance with land assemblage and infrastructure improvements to
leverage qualified private investment.
Historic Rehabilitation Federal Tax Credit
Provides 20% federal income tax credit on substantial rehabilitation costs and 27.5
years for depreciation of improvements to historic buildings used for rental residential
property for at least 5 years. Administered through the South Carolina Department of Archives and History, with eligibility
sign-off by the City.
Special Property Tax Assessments for Rehabilitated Historic Buildings
Provides a special assessment for city and county property taxes on historic buildings
that have been substantially rehabilitated under the guidelines of the SC Department
of Archives and History. After rehabilitation, property is taxedfor up to 10 years
on the pre-rehabilitation fair market value. The program is administered through
the City Planning and Development Division.
Brownfields Federal Tax Incentive (Deduction)
Provides a federal tax deduction for certain costs incurred to assess and clean
up contaminated property.
More Brownfields Information
Brownfields Cleanup Revolving Loan Fund (BCRLF)
State program that provides loans of up to $900,000 at 2% below prime for the cleanup
of brownfield sites. Administered by the South Carolina Department of Health and
Environmental Control (SC DHEC) through a federal grant from Environmental Protection
Agency. For more information, contact SC DHEC, 803-896-4069 or Business Carolina,
803-461-3800.
SC Voluntary Cleanup Program (VCP)
State program that provides CERCLA liability protection to Non-Responsible Parties
interesting in purchasing Brownfields sites. Also provides an incentive to Responsible
Parties with a covenant not to sue for work performed in cleaning up a site. Administered
by the South Carolina Department of Health
and Environmental Control (SC DHEC).
Business Assistance
Business License Tax Abatement
Provides a graduated 3-year abatement of the City business license fee for new corporate
offices, manufacturing, research and development, and high technology companies
on a city-wide basis. Abatement also available to retail, artists, and professional
services in designated areas. The program allows for an abatement equal to 100%
of the tax the first
year the business is in operation, 66% in the second year, and 33% in the third
year. Beginning in the fourth year of operation, the full business license tax is paid.
More Tax Abatement Information
LADDER
A comprehensive job training/placement program to reduce barriers qualified residents
face in accessing employment opportunities, including education, training, child
care transportation, uniforms, and tools. More LADDER Information
South Carolina Jobs-Economic Development Authority (JEDA) Loans and Bond Programs
More JEDA Information
South Carolina State Incentives
Find more information on the Greenville
Area Development Corporation website.
Additional Contact Information for Small Business Assistance
Download
a listing of small business assistance phone numbers