Need a Shovel-Ready Site? Laurens County is Prime for Development
11/02/2024
When it comes to developing industrial projects, U.S. companies are demanding increased speed to go to market. Despite the current economic challenges facing America’s landscape, industrial projects are booming and constantly in need of shovel-ready land. Laurens County, South Carolina, is fortunate to have an abundance of development sites available to meet this rising need.
Finding a Development Site in Laurens County
With available properties ranging from 5 acres to 700 acres, Laurens County has real estate applicable for several types of projects. Most properties are less than a mile from a major highway, like I-385, and many don’t have assigned zoning. This flexibility makes it easy for a range of industries to have endless options for expansion.
Of course, cost is a major consideration when searching for a location to conduct business. South Carolina hosts a pro-business climate with a low cost of business operation and many opportunities for performance-based incentives. Laurens County views economic incentives as an investment in its economic future; the County has always been willing to invest in companies willing to reinvest in the state. Additionally, South Carolina offers the following economic incentives:
- No state property tax
- No local income 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
It’s no surprise that businesses think of Laurens County when looking for development sites. To see all available property listings, click here for a full list.
A Range of Industries Call Laurens County Home
With abundant real estate, Laurens County is ideal for many industries. Its close proximity to ICAR makes it an ideal home for auto-related industrial development. The notable lack of sales tax on manufacturing machinery, industrial power, or materials for finished products makes this a place where auto manufacturers keep more of their hard-earned money. Automotive site selectors will feel reassured as they join the 14 existing automotive manufacturers that call Laurens County Home.
Just like with the automotive industry, advanced materials suppliers also enjoy the favorable tax structure in Laurens County. Manufacturers and distributors mutually benefit from the existing businesses in the area, with nine advanced materials facilities and nine distribution centers in close proximity to the Greenville-Spartanburg International Airport. Looking internationally, Laurens County is home to international businesses from the U.K., Germany, Italy, Japan, and more.
All Laurens County businesses are able to pursue generous economic incentives like the following:
- Property Valuation and Assessment Ratios
- Fee-in-Lieu-of Property Taxes (FILOT)
- Special Source Revenue Credit (SSRC)
- Property Tax Abatements
- State Incentives
- Employee Training
- Multi-County Industrial Park
- New Markets Tax Credit Program (NMTC)
The endless possibilities for Laurens County businesses to thrive make it an ideal choice for developers and site selectors when looking for a place to expand. To learn more about doing business in Laurens County, contact us today.
