Incentives

There are numerous incentives for businesses that choose to call Mauldin their home. Some of the most beneficial aspects about business life in Mauldin are the numerous tax breaks and exemptions offered by Greenville County.

Corporations and businesses in Greenville County have the advantage of services provided by the Greenville Area Development Corporation (GADC). A company may choose one of two incentive programs. A business may qualify for either a five-year abatement of a statutory-set portion of property tax or a fee-in-lieu-of-tax arrangement (by agreement with the county).

The GADC offers the following incentives for Greenville County:

Property Tax Abatement-Statutory
South Carolina provides a property tax abatement to new or existing companies making new capital investments in the state. For more information, please visit the South Carolina Department of Revenue website at www.sctax.org.

Fee-in-Lieu of Property Tax-Negotiation
A business may negotiate with the GADC for a Fee-in-Lieu of Property Taxes (FILOT) agreement. FILOT agreements are subject to final approval by the Greenville County Council.

Industrial Revenue Bond-Negotiated
For small manufacturers the Industrial Revenue Bond is the lowest cost means to finance a new operation or an expansion due to tax-exempt status of the bond (loan). It can be used for acquisition of land, building construction, real property improvements, and the acquisition of new machinery. The investment cannot exceed $20 million in expenditures 3 +/- years.

All information on this page was obtained from the Greenville Area Development Corporation website. For more information about economic development in Greenville County, please visit the GADC website, www.greenvilleeconomicdevelopment.com.