SC Textile Community Revitalization Act
The SC Textile Communities Revitalization Act provides financial incentives for the "renovation, improvements, and redevelopment of abondoned textile mill sites located in South Carolina." Find out more in the SC Code of Laws 6-32-20--6-32-50.
posted by SCDesignArts | 8:11 AM
2 Comments:
SCDesignArts--
Are you still there?
I note that the Revitalization Act has been repealed.
I am interested in converting old mills to different manafuacturing facilities, particularly LED lighting. Any suggestions?
The Revitalization Act was repealed last year, but it was simultaneously reenacted under SC Code sections 12-65-10 thru 12-65-40. There is also an effort currently underway to further revise the current version to add flexibility and address certain problems with the current language. If you are converting an old mill in SC to a manufacturing facility, you can use the Revitalization Act credit along with, in many cases, the Federal Historic rehabilitation credit and the State Historic rehabilitation credit. You can bring in an investor to purchase these credits in exchange for substantial equity in your project. There are likely other economic incentives available as well if you are putting in a manufacturing facility, depending where it is located, among other factors.
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