IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 06 Oct 2011 | Removal date: open ended
Still in force

Tax or social insurance relief

In 2011 state and local governments in South Carolina provided a package of incentives for Continental Tire's new plant in Sumter County and for the company's U.S. headquarters expansion in Lancaster County. The package will be disbursed over 10 years and includes both state and local subsidies: $118 million in corporate income tax credits; $37 million in Job Tax Credits; up to $35 million from a deal closing fund; $32 million in Job Development Credits; $18.6 million in unspecified local assistance; $5.1 million in training assistance; and a $5 million grant from the South Carolina State Port Authority. Sumter County also approved unspecified amount in FILOT (fee-in-lieu of taxes) assistance in the form of a flat fee of 4 percent instead of 10 percent of the plant's assessed value. The county will rebate to the company its FILOT payments for first 10 years. The project also received $4 million in federal Community Development Block Grant funds. 
 
The GTA includes state guarantees and other financial incentives thatare likely to affect the restructuring and performance of firms facinginternational competition, whether from imports, in export markets, andfrom foreign subsidiaries.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

361 Rubber tyres & tubes
4011 New pneumatic tyres, of rubber.
401110 Of a kind used on motor cars (including station wagons and racing cars)
401120 Of a kind used on buses or lorries
401130 Of a kind used on aircraft
401140 Of a kind used on motorcycles
401150 Of a kind used on bicycles
401161 Of a kind used on agricultural or forestry vehicles and machines
401162 Of a kind used on construction or industrial handling vehicles and machines and having a rim size not exceeding 61 cm
401163 Of a kind used on construction or industrial handling vehicles and machines and having a rim size exceeding 61 cm
401169 Other
401192 Of a kind used on agricultural or forestry vehicles and machines
401193 Of a kind used on construction or industrial handling vehicles and machines and having a rim size not exceeding 61 cm
401194 Of a kind used on construction or industrial handling vehicles and machines and having a rim size exceeding 61 cm
401199 Other

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