SC H5471

Creates the South Carolina Headquarters Relocation and Growth Fund as a separate trust fund administered by the Coordinating Council for Economic Development to provide grants to businesses establishing or expanding headquarters, regional headquarters, or shared service centers in the state

Qualifying projects must create at least 50 new full-time jobs within 5 years, pay average wages at 200% or more of the county average, and invest a minimum of $10 million in real property, equipment, or relocation expenses

Grant funds may be used for employee relocation costs, office construction and buildout, IT infrastructure, workforce training programs, and public infrastructure improvements like roads and broadband

Recipients must sign performance agreements with job creation milestones and clawback provisions requiring proportional repayment if commitments are not met

Fund awards may be combined with existing incentives including Job Development Credits, Job Tax Credits, and FILOT agreements, subject to cost-benefit analysis