Battery Manufacturing Tax Incentive
For taxation purposes, the taxable fair market value of manufacturing machinery and equipment purchased for use at a renewable energy manufacturing facility may be reduced by 20% of the original cost. Qualified renewable energy manufacturing facilities include those manufacturing batteries for hybrid electric, fuel cell, or other motor vehicles certified by the South Carolina Energy Office. Qualified facilities must invest at least $100 million in the project and create at least 200 new full-time jobs with an average compensation level of 150% of the annual per capita income in South Carolina or the county where the facility is located, whichever is less. Additional restrictions apply.
Jurisdiction: South Carolina
Type: State Incentives
Enacted: Jun 23, 2010
Technologies: HEVs, Hydrogen Fuel Cells, PHEVs
See all South Carolina Laws and Incentives.