Discretionary grants
South Carolina offers discretionary grant funding to support economic development projects across the state. Three primary grant funds are administered by the South Carolina Coordinating Council for Economic Development (Coordinating Council). Each project is evaluated on a case-by-case basis. Grants may be awarded at the sole discretion of the Coordinating Council, depending on the specific needs and impact of the project.
Programs
Economic Development Set-Aside Program
The Economic Development Set-Aside Program assists companies locating or expanding in South Carolina.
Overseen by the Coordinating Council, this program is the Council’s primary business development tool for assisting local governments with:
- Road improvements
- Water and sewer infrastructure
- Site improvements
- Other costs related to business location or expansion
The program supports infrastructure investments that facilitate private sector growth and job creation.
Closing Fund
The Closing Fund was created in 2006 to assist when additional funding is needed to recruit or retain high-impact economic development projects in South Carolina.
Grants are generally awarded to assist with:
- Real property improvements
- Road improvements
- Infrastructure improvements
The Closing Fund is dependent on annual appropriations from the South Carolina General Assembly.
Rural Infrastructure Fund
The Rural Infrastructure Fund (RIF) provides financial assistance to qualified rural counties to enhance economic growth and development.
The fund may be used for:
- Infrastructure projects
- Job creation initiatives
- Product development activities
Qualified counties are designated as Tier III or Tier IV by the South Carolina Department of Revenue.
How grants are awarded
All three grant programs are administered by the Coordinating Council. Projects are evaluated individually, and funding decisions are based on project needs and anticipated economic impact. Grant awards are discretionary and not automatic.
Frequently asked questions
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