$22 million in tax credits going to development projects

Greenville New Markets Opportunity II (GNMO II) announced on Feb. 17 that $22 million worth of New Markets Tax Credits will be used to supplement development projects in three South Carolina counties.


Greenville New Markets Opportunity II (GNMO II) announced on Feb. 17 that $22 million worth of New Markets Tax Credits will be used to supplement development projects in three South Carolina counties.

Greenville County will utilize a bakery that had been family-owned since the 1930s but had been abandoned. The building is located in the West End District on Augusta Street. It will be converted into office space for local businesses and for McMillan, Pazdan, Smith Architecture.

The second is in Oconee County. The TDC Cutting Tools and Greenfield Industries is seeing an expansion of their manufacturing facility and space. According to the report this will help support and retain 302 jobs in the area.

"None of this funding would be possible without the hard work of U.S. Senators Tim Scott and Lindsay Graham and U.S. Congressman Trey Gowdy," GNMO II Operating Officer Tammy Propst said. "Last summer, GNMO II was the only [community development entity] in South Carolina to receive an allocation of funding from the Treasury and already the Upstate is reaping benefits in the form of new jobs, improved health and wellness services for citizens, and increased tax revenues for cities and counties."

The third project is a set of enhancements to the Upward Star Center in Spartanburg County, which houses youth sports leagues and a health and wellness center that helps young people in the community through its sports and leadership programs. The Spartanburg Regional Health Services District has signed a lease and will offer its professional orthopedic services in the facility.

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