Laurens Commission of Public Works

Hunter Industrial Park Incentives & Benefits

Cooperation between local governmental entities in Laurens has been raised to new levels with the Interlocal Government Agreement for business recruitment. The agreement has made incentive packages for new and/or expanding industries in Laurens' Hunter Industrial Park among the most attractive in the southeast.

With the passing of the Rural Development Act of South Carolina and the Interlocal Agreement in Laurens, Hunter Industrial Park offers some of the most outstanding and beneficial financial incentives in the entire nation.

Here are some of the outstanding incentives available for new and expanding industries:

Little Fee: New Business investments of at least $5 million may negotiate with Laurens County to lower the property tax assessment ratio to as low as 6 percent and negotiate a fee for a term of up to 20 years.

Big Fee: New business investments of at least $45 million may negotiate with Laurens County to lower the property tax assessment ratio to as low as 6 percent and negotiate a fee for a term of up to 20 years.

Any new business investment of $400 million or an existing business with $200 million of current investment which adds $200 million of new investment can negotiate the property tax assessment ratio to as low as 4 percent.

The Special Source Revenue Bond (SSRB) provision of the Rural Development Act allows Laurens County to appropriate up to 100 percent of the Fee in Lieu of Taxes (FILOT) for a new business locating in Laurens County.

The following incentives are available to businesses that will be paying an average employee salary of $10 per hour:

Fee in Lieu of Taxes (FILOT): The following table shall be followed for investments, property tax assessment ratios and fee contract periods available for new or existing business investments in land, building, machinery and equipment in the city of Laurens and Laurens County.

Amount of Investment

FILOT Assessment Ratio

Fee Contract Period

$5,000,000 to 45,000,000

6%

20 years

>$45,000,000

6%

20 years

>$400,000,000 (200 new jobs)

4%

20 years

$200,000,000 existing investment and $200,000,000 new investments (200 new jobs)

4%

20 years

Special Source Revenue Bonds (SSRB): The following table shall be followed for investments and percentage of funds available for new or existing business investments in land, building, machinery or equipment in the city of Laurens and Laurens County.

Amount of Investment

Percentage of Fee for SSRB

Fee Contract Period

$5,000,000 to 10,000,000

35%

10 years

$10,000,001 to 15,000,000
40%

10 years

$15,000,001 to 25,000,000
45%

10 years

>$25,000,001
50%

10 years

If a company is paying at least $13 per hour, as reported to the South Carolina Department of Revenue, it could expect a higher level of Special Source Revenue Bonds.