Tax Credit To Help Spartanburg Mill Project - WSPA.com

Tax Credit To Help Spartanburg Mill Project

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The state of South Carolina wants to preserve history and help your property values by offering a tax credit to developers.

At Monday night’s meeting, Spartanburg City Council approved its first property to qualify for the credit—the Beaumont Mill off Pine Street.

Under the state's Textile Communities Revitalization Act the credit can be used for the rehabilitation, renovation, and redevelopment of abandoned textile mill sites. The state hopes the credit will push buyers to invest in older mills and give nearby neighborhoods a boost too.

According to the state, when mills sit empty they can become dangerous sites for fires and injuries. They can also house criminal activity, become eyesores and affect your property values.

Click here to see if an abandoned mill in your area qualifies for the tax credit.

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Shelby anchors and produces the weekend morning newscasts and is a general assignment reporter.
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