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Jobs Tax Credit
 

The Jobs Tax Credit is available to manufacturing, distribution, processing, warehousing, research and development, and tourism facilities. In order to qualify, the company must create and maintain a certain number of net new jobs. The number of new jobs is calculated as the increase in the average number of monthly jobs from one year to the next.

Businesses that Qualify for the Jobs Tax Credit

  • Manufacturing and processing, warehousing and distribution, research and development, and qualifying technology intensive facilities must create 2 net new jobs.
  • Corporate office facilities housing a majority of the headquarters functions must create 2 net new jobs.
  • Tourism-related companies must create 10 net new jobs, with the exception of hotels and motels, which must create 20 net new jobs.
  • Qualified service-related facilities must meet the following criteria:
     
    • 250 new jobs; or
    • 125 jobs with an average salary 1.5 times the county’s per capita income; or
    • 75 jobs with an average salary 2 times the county’s per capita income; or
    • 30 jobs with an average salary 2.5 times the county’s per capita income.

A county may also join with another county to form a Multi-County Industrial Park. Under this arrangement, a county agrees to share the property taxes with partner county. This partnership raises the value of the credits by $1,000 per The Credit value is $3,500 per net new job in Sumter County for five years, depending on the hourly wage rate of each net new job. EXAMPLE: 100 jobs in a Tier 3 county. Note: Sumter County is a Tier 3 County.

Year

Credit Per Job

No. of Jobs
AnnualCredit
1
Establish Qualifications for Credit
2
$3,500
100
$350,000
3
$3,500
100
$350,000
4
$3,500
100
$350,000
5
$3,500
100
$350,000
6
$3,500
100
$350,000
5-Year Value: $1,750,000
 


Black River Spec Building 4
Black River Spec Building 4

This 104,600SF spec facility can cut up to a year off a company’s startup time. Owned by Sumter County and located in Sumter’s Black River Airport Industrial Park, this flexible and expandable facility has all utilities available. Click the photo for details.

Click the photo for details.

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