In The News

Scott’s historic park legislation moves forward in Senate

Friday | May 18, 2018

U.S. Senator Tim Scott's (R-SC) Fort Sumter and Fort Moultrie National Historical Park Act was approved Thursday by the U.S. Senate Committee on Energy and Natural Resources. The legislation will revamp the protections overseeing some of South Carolina's most historic locations."South Carolina's history is an essential chapter of our American story, and today we are one step closer to helping preserve some of our state's most important and historic sites," said Scott. "By officially … Continue Reading

Former S.C. schools superintendent Mick Zais confirmed as deputy U.S. education secretary

Wednesday | May 16, 2018

by Jamie Lovegrove

The U.S. Senate confirmed former South Carolina Education Superintendent Mick Zais as the nation's new deputy education secretary Wednesday in a vote that split along party lines. The 50-48 vote ended a months-long wait for Zais after President Donald Trump picked him to be Education Secretary Betsy DeVos' second-in-command last October. Zais became a controversial figure during his four-year tenure leading South Carolina's education agency, regularly feuding with teacher groups and members … Continue Reading

Senator Scott's Commencement '18 Highlights

Friday | May 11, 2018

United States Senator Tim Scott of South Carolina addressed the Class of 2018 and offered words of wisdom inspired by his own life experiences: … Continue Reading

Keep the Economy Humming

Saturday | May 5, 2018

The nation's economy is setting some records this year. According to the federal Bureau of Labor Statistics, the national unemployment rate, at 3.9 percent for April, is the lowest in 17 years. Wages are rising, and likely to rise more given a tight labor market. Now the job of the economy's minders in Congress and the Federal Reserve is to keep it humming. The latest Labor Department figures contain some very encouraging news. For example, while black unemployment at 6.6 percent is still … Continue Reading

Opportunity sprouts in impoverished areas, thanks to tax reform

Thursday | May 3, 2018

by Ryan Ellis & Cesar Conda

Outgoing Speaker of the House Paul Ryan talks about the new tax reform law quite a lot, as one would imagine. When he does, he invariably talks about three things-the corporate income tax rate cut, the tax cut for middle class families with kids, and Opportunity Zones. The latter is also a favorite topic of both White House Council of Economic Advisers chief Kevin Hassett and his colleague Larry Kudlow of the National Economic Council. What are these "Opportunity Zones" that have these … Continue Reading

U.S. Senator Tim Scott: conditions are ripe for small business success in SC

Wednesday | May 2, 2018

by Renee Sexton

U. S. Senator Tim Scott, R-South Carolina, says now is a good time for small businesses in South Carolina. "This is a great year to start your small business," Scott told hundreds of business owners and entrepreneurs at the Grow with Google event in Columbia on Wednesday. He mentioned two key pieces of legislation that contribute to favorable conditions for small business in South Carolina: The Tax Cuts and Jobs Act, which restructured federal income tax laws, and Opportunity Zones, which … Continue Reading

New community development program will offer funds for poor rural communities

Wednesday | May 2, 2018

Colleton County and the SouthernCarolina Alliance are waiting to see the nuts and bolts of how Opportunity Zones will work. Sandra DeVoe-Bland, Promise Zone coordinator for SCA, said the federal government, primarily the U.S. Treasury Department and Internal Revenue Service, are still working on details of how the community development investment program will work. She said that South Carolina U.S. Sen. Tim Scott and three other federal legislators introduced the Investing in Opportunity Act … Continue Reading

'Opportunity zones' aim to give neighborhoods an economic boost

Friday | April 27, 2018

by Gray Rohrer

Ten years after the Great Recession, the economic recovery has skipped over some long-downtrodded neighborhoods such as Pine Hills and Parramore. "When the West Oaks mall [west of Pine Hills] began to degrade, you ended up with anywhere from 60 to 80 stores that are empty," said state Rep. Bruce Antone, whose district includes parts of Pine Hills and Parramore. "Think about it: if each one of those stores has five to 10 jobs ... that's a lot of jobs in that community." Pine Hills and … Continue Reading

New Redevelopment Tax Incentive Program Starting to Take Shape

Monday | April 23, 2018

by Oscar Perry Abello

With big questions about the new Opportunity Zones program still on the table, the U.S. Department of the Treasury has begun to issue approvals of opportunity zone designations. The Opportunity Zones program came about as a late addition to the tax-cut bill passed by Congress at the end of 2017. Its inclusion, orchestrated by senators Cory Booker (D-NJ) and Tim Scott (R-SC), surprised many in the community development and state policy sectors because the proposal had been floated for a few … Continue Reading

Rubio and Scott: New federal tax law will help Miami’s low-income working families

Friday | April 20, 2018

The new tax law has two provisions that will particularly empower working families. The Child Tax Credit will give American families back more of their own money. The Investing In Opportunity Act has the potential to power an economic renaissance in the communities left behind by the global economy. By working together, we can help restore hope and ensure that the next great American idea isn't lost because someone did not have the opportunity to share it. The tax law passed last year cut the … Continue Reading

‘Responsive to our unique needs’

Friday | April 13, 2018

by Charles Warner

UNION COUNTY - Among the benefits of economic development and efforts to promote it is that it brings people together to improve the community and the lives of its residents and that's what the Opportunity Zone program is doing according to Union County Development Board Executive Director Kathy Jo Lancaster. On Friday, March 23, Gov. Henry McMaster announced the nomination of 135 Opportunity Zones throughout South Carolina including one in Union County. According to the South Carolina … Continue Reading

Officials optimistic on 'Opportunity Zone' program

Sunday | April 1, 2018

by Bruce Mills

In a business environment where every dollar counts, Sumter and Lee County officials are hopeful a new federal tax incentive program will help spur industrial and commercial development in their communities by companies. Created in part by U.S. Sen. Tim Scott, R-S.C., a new Opportunity Zones program recently passed in a $1.3 trillion spending bill in Congress to encourage long-term private-sector investment in low-income census tracts across the U.S. Of South Carolina's 1,097 census tracts, … Continue Reading

Summerville, Ridgeville among S.C. locations nominated for community development program

Monday | March 26, 2018

by Jenna Ley-Harrison

More than 130 low-income communities across the state, including a handful in Dorchester and Berkeley counties, have been proposed by Gov. Henry McMaster as possible "opportunity zones" that could see more private investment thanks to a federal tax incentive program meant to stir economic development in those areas. Most of the targeted locations are in need of added infrastructure and affordable housing, according to a press release from the governor's office. They are among 135 urban and … Continue Reading

'Opportunity zones' could transform S.C. communities

Saturday | March 24, 2018

A bright idea for spurring investment in economically distressed areas, approved as part of the federal tax reform bill, has the potential to pump much-needed capital into some of the poorest communities in South Carolina and across the nation. With a little economic alchemy, Sen. Tim Scott, R-S.C., hopes to transform the problems of the rich into opportunities for the poor. Under his Investing in Opportunity Act, individuals and businesses can defer or reduce capital gains taxes by … Continue Reading

Aiken tract named to national 'opportunity zone' investment shortlist

Friday | March 23, 2018

by Colin Demarest

Plans to revitalize economically ragged communities throughout South Carolina received a jolt from Gov. Henry McMaster on Friday morning. At a press conference in Ridgeway, McMaster announced he had submitted a list of 135 distressed areas within the state to the U.S. Department of the Treasury. The tracts on that list - known as "opportunity zones" under a new program included in the Tax Cuts and Jobs Act of 2017 - are eligible for tax incentives designed to spur hyper-local … Continue Reading

Struggling neighborhoods eligible for economic boost with 'Opportunity Zones' designation

Friday | March 23, 2018

by Hannah Alani

When Ernest Pinckney was growing up in Union Heights during the 1940s and 1950s, the streets were unpaved, street lights didn't exist and the homes lacked running water. But business boomed. Barbershops, a fish market, shoe stores and a moving picture theater offered entertainment within walking distance. Young Pinckney walked down Spruill Avenue each morning to Four Mile Elementary, and each day, he passed his favorite store: a large, shining supermarket at the corner of Spruill and Joppa … Continue Reading

'This is a game changer': New federal program to help redevelopment along Grand Strand

Friday | March 23, 2018

by Megan Tomasic and Alex Lang

A new federal program is set to help low-income areas along the Grand Strand. The program, known as opportunity zones, provides tax incentives to encourage long-term private investments. During a news conference Friday morning, Myrtle Beach Mayor Brenda Bethune announced two tracts in the City of Myrtle Beach that will benefit from the program. "It does include the Superblock area, and basically the two zones that were chosen for Myrtle Beach were from 21st Avenue North to 3rd Avenue South … Continue Reading

SC among first states to seek ‘Opportunity Zone’ status for economically-distressed communities

Friday | March 23, 2018

by Matt Long

South Carolina is among the first states to submit communities eligible for the new federal "Opportunity Zone" program. Gov. Henry McMaster said Friday his office submitted the maximum number of economically-distressed communities to the U.S. Treasury Department so investors seeking to build businesses in those areas could be eligible for tax incentives. "This gives us the extra punch, the extra opportunity that will transform economic growth and development and one more tool to usher in a … Continue Reading

Opportunity zones program about to be tested in South Carolina

Thursday | March 22, 2018

by Emma Dumain

WASHINGTON Sen. Tim Scott's new federal program encouraging businesses to invest in low-income communities will soon be tested around the country, but the stakes for the South Carolina Republican might be highest in his own state. The home turf scrutiny could begin as early as Friday morning. That's when South Carolina Gov. Henry McMaster will hold a press conference in Ridgeway, S.C. - in the shadow of the shuttered V.C. Summer nuclear power plant that cost the area nearly 5,000 jobs … Continue Reading

‘God Made Me Black on Purpose’

Friday | March 16, 2018

by Tim Alberta

NORTH CHARLESTON, S.C. - At the end of Forest Avenue, a narrow artery slicing through blocks of muddy lots and decaying one-story homes, Tim Scott kicks at the gravel and waits. He had shared a table Saturday night with the world's wealthiest man, Jeff Bezos, at the annual dinner of Washington's Alfalfa Club, the ultra-exclusive gathering of the political and financial elite that began as a celebration of Confederate General Robert E. Lee's birthday. Now, it's Monday morning and the junior … Continue Reading

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