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Our area, made up of both traditional and high tech industries, offers businesses with the necessary tools to excel in a world-class business environment.
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| Working - Economic Profile |
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LABOR FORCE
While North Augusta supplies a great place to live and work today, it has a vested interest in how it expands into the future. The area benefits from a wide range of industry and corporate offices. But with the sizable skilled labor force and support services, North Augusta is primed to attract more businesses to its borders.
Low construction costs, tax incentives, a labor pool of approximately 270,000 people and an existing infrastructure make the area attractive to companies looking to relocate or open their doors.
LOCATION AND TRANSPORTATION
North Augusta exists in a truly unique position near the twin centers of Southern business - Atlanta and Charlotte - and within three hours of two of the largest ports - Savannah and Charleston - in North America. Businesses here thrive on direct and accessible roadways, reliable rail and air shipping, and a convenient import and export system.
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Drive Time
Located along the Georgia/South Carolina border, North Augusta provides easy access to the South's business, commercial, and manufacturing operations. For entrepreneurs and financiers, North Augusta is less than three hours from Atlanta and Charlotte, the business and commerce capitals of the new South; for manufacturers and distributors, the region is just over two hours from the deepwater ports at Savannah-one of the five largest container-handling ports in the United States-and Charleston, which has the sixth-largest port in the nation in terms of cargo value.
For automotive suppliers, North Augusta & Aiken county is positioned two hours south of BMW's Greenville assembly and less than three hours east of Ford's Hapeville assembly and GM's Doraville plant. Not only is North Augusta near the center of the country's automotive manufacturing, but it's also near the center of the country's automotive research. In addition to the National Center for Hydrogen Research in Aiken County, the University of South Carolina's National Center on Fuel Cell Research in Columbia is only an hour away, and Clemson University's International Center for Automotive Research (ICAR) in Greenville is only a couple of hours away.
 Highways
As a central point in the Southeast, North Augusta & Aiken county is surrounded by a growing system of major highways, including Interstate 20, which allows businesses access to the major metropolitan areas of Atlanta, Georgia; Birmingham, Alabama; and Dallas, Texas. Interstates 26 and 77, which connect the region to Charleston, Greenville-Spartanburg, and Charlotte, North Carolina, are also nearby. Route 78 gives commuters an easy trip between Aiken and North Augusta and Highway 19, running north/south through the state, provides ready access to all points in Aiken County and south to New Ellenton.
In linking the region to all corners of the country, more than 30 freight lines serve Aiken, including American Freightways, Overnite, Roadway Express, Superior, and Old Dominion.
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Airports
Only eight miles from downtown North Augusta, the Augusta Regional Airport provides nonstop service to Atlanta, Charlotte, Newark and Houston via Atlantic Southeast (Delta Connection), PSA/USAir Express and Continental Express. Augusta's new passenger terminal will provide easier and more convenient access to flights, baggage, and rental cars.
The Columbia Metropolitan Airport, located 70 miles away, offers access to all major air carriers including Continental, Delta and US Air Express. Two smaller airports, Aiken Municipal Airport in Aiken, S.C., and Daniel Field in Augusta, Ga., also serve the area.
 Ports
The Port of Charleston, less than two and one-half hours away, is one of the four largest container-handling ports in the country. With $39 billion annually in international shipments, the Charleston customs district ranks as the nation's sixth largest; Charleston's harbor was recently deepened to 45 feet at mean low water, which should enable the harbor to serve even larger freighters. The port primarily exports to northern Europe and Asia-which account for 67% of Charleston's total volume-but still serves more than 150 nations.
The Port of Savannah also provides a significant international shipping option; the Port's Garden City Terminal is a dedicated container facility-the largest of its kind on the East Coast. Savannah's Ocean Terminal is a break-bulk facility handling forest and solid wood products, steel, project shipments and heavy-lift cargoes, and CSX and Norfolk Southern provide service to both terminals.
Rail
More than 2,400 miles of railroad track run through South Carolina alone. The largest freight railroads in the country, Norfolk Southern and CSX, serve Aiken. The railroads bisect the region, carrying wood, chemicals, and plastics: CSX serves western Aiken County, namely Jackson and Beech Island, while Norfolk Southern's mainline serves Aiken and Graniteville in Aiken County as well as Trenton and Johnston in Edgefield County. Aiken County owns a 4-mile Norfolk Southern spur that connects rail service directly with Aiken County's Sage Mill Industrial Park. Available sites along that spur range from 15 to 150 acres; in Aiken overall, available rail sites with highway access range from 20 to 1500 acres.
Passenger rail service is available through Amtrak in Columbia and Charleston
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APPROXIMATE DISTANCE FROM NORTH AUGUSTA
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| City |
Miles |
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Asheville, NC.................................
Atlanta, GA ....................................
Augusta, GA ..................................
Brunswick, GA ..............................
Charleston, SC .............................
Charlotte, NC ................................
Chicago, IL ....................................
Columbia, SC................................
Dallas, TX ......................................
Greenville, SC ..............................
Jacksonville, FL............................
Knoxville, TN ................................
Miami, FL .......................................
New York, NY................................
Raleigh, NC ..................................
Savannah, GA...............................
Tallahassee, FL............................
Washington, DC............................ |
182
149
5
203
176
159
827
70
932
115
264
288
616
783
291
144
327
549 |
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TAXES AND INCENTIVES
Excellent Return On Investment
The State of South Carolina has a reputation as a superior business location, largely due to the exceptional economic climate that helps companies hold down operating costs, while increasing their return on investment. In additional, South Carolina's performance-based tax incentives reward companies for job creation and capital investment. The state's pro-business policies are demonstrated by the following:
- Numerous ways to reduce, or in some cases eliminate, your company's corporate income taxes;
- A wide range of sales tax exemptions that will reduce start-up and annual operating costs;
- Property tax incentives that can be tailored to meet your company's needs;
- Special discretionary incentives at the local and state level that can be used to meet specific needs of a company on a case-by-case basis.
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Sales Tax
The sales tax rate in South Carolina is 5 percent. Local option sales tax adds another 1 percent in Aiken county. However, South Carolina supports new and expanding industry with a wide range of valuable exemptions to the state and local sales tax. These exemptions include machinery and equipment used in production; research and development machinery and equipment; repair parts; materials used in the finished product; fuels and electricity used in the production process; pollution control equipment; packaging materials; rail cars and locomotives; and long distance telephone call and access charges. In addition, material-handling equipment is exempt from sales taxes for manufacturing or distribution companies investing $35 million or more.
Hospitality and Accommodations Taxes
The city of North Augusta levies a one-percent hospitality tax on the sale of prepared or modified food and beverages. The city also levies a three-percent accommodations tax on motel, bed and breakfast, and similar overnight lodgings. Proceeds from this tax are expected to generate $515,000 annually and will partially fund the City's redevelopment of the Downtown and Riverfront Districts.
Corporate Income Tax
At 5 percent, South Carolina's corporate income tax rate is one of the lowest in the Southeast. South Carolina uses a business-friendly method to determine a company's corporate income taxes. South Carolina only taxes business on the portion of their income that they derive from in-state operations. Second, corporate income is apportioned based on a three-factor formula with double-weighted in-state sales.
Property Tax
In South Carolina, only local government levies property taxes. There are no state property taxes on real or personal property. In addition, there is no property tax, state or local, on inventories or intangible property. Property taxes are calculated by taking the property value (less depreciation) and multiplying that by the appropriate assessment ratio before multiplying again by the millage rate. For manufacturers, real and personal property are both assessed at 10.5 percent. For service-related companies, real property is assessed at 6 percent, while personal property is assessed at 10.5 percent. Because of technological advancements that reduce the value of existing equipment, the South Carolina Department of Revenue depreciates personal property 11 percent annually to a residual value of 10 percent.
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To be competitive in attracting companies to South Carolina, there are several incentives that can reduce a company's property tax liability. First, there are no property taxes on inventories, intangible property and pollution control equipment. Second, if a manufacturer invests $50,000 or more, or if distribution or headquarters facilities invest $50,000 and create 75 new jobs, companies are exempt from paying the county operations portion of the millage rate for five years. This represents a 20 to 30 percent reduction in property taxes. A company will only pay school operations and municipal (if inside city limits) millage during this period.
Lastly, companies making significant capital investment and job creation can qualify for a fee-in-lieu of property taxes (FILOT). This is a discretionary incentive negotiated with the county. It can offer significant savings to a company. First, the assessment ratio can be reduced from 10.5 percent to 6 percent under a FILOT (4 percent for a Super FILOT). This represents savings to a manufacturer greater than 40 percent on their property taxes. Second, the agreement can be up to 20 years under a FILOT (up to 30 years for a Super FILOT). This results in long term savings to a company and knowledge of their property tax liability for the length of the agreement, which allows advantages for budgeting. This incentive replaces the property tax abatement incentive.
Tax Credits and Incentives
In addition to having low corporate income taxes and pro-business calculations, there are several incentives that can be used to reduce or, in some cases, eliminate a company's corporate income tax liability for a period of time. A new or expanding manufacturer needs only create 10 jobs to qualify. Large service-related projects may also qualify. Companies locating in Aiken County can expect to receive a Job Tax Credit (JTC) of $1,500 per job for five years.
North Augusta is also located in an “Economic Impact Zone.” Manufacturers can receive additional credits to further reduce or eliminate the remaining 50 percent of their corporate income tax liability by claiming a one-time credit of up to 5 percent of the investment of new production equipment.
In addition, Corporate Headquarters Tax Credits, Research & Development Tax Credits, Child Care Program Tax Credits and Community Development Tax Credits can be used to reduce or eliminate a company's corporate income tax liability.
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INDUSTRY & EMPLOYMENT |
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There are approximately 70 manufacturing firms in Aiken County, with an average monthly manufacturing employment of approximately 24,000 workers. Principal manufactured products include materials for nuclear power, glass fibers, cotton and yarn goods, re-fabricated railway cars, concrete products, fabricated steel pipes and tanks, paper products, disposable diapers, bread products, printing and publishing products, electrical wiring devices, and clothing products. |
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TOTAL LABOR FORCE
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2000
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2001
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2002
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2003
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| Total Workers |
64,655
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63,152
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63,349
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65,540
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| Employed |
61,936
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59,585
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59,974
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61,652
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| Unemployed |
2,719
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3,567
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3,375
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3,888
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| Percent Unemployed |
4.2
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5.6
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5.3
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5.9
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Sources: Economic Development Partnership, Economic Profile 2002-2003; South
Carolina Employment Security Commission – Not Seasonally Adjusted
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MAJOR MANUFACTURING ESTABLISHMENTS IN AIKEN COUNTY
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*In North Augusta City Limits Source: ?Economic Development Partnership, 2002-2003 Economic Profile
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AIKEN COUNTY PERCENT EMPLOYMENT BY INDUSTRY (2001)
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Industry
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Percent |
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Construction
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8.4 |
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Manufacturing
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16.6 |
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Transportation and Public Utilities
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20.4 |
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Wholesale/Retail
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17.9 |
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Finance, Insurance and Real Estate
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2.9 |
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Service
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20.8 |
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Government
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13.0 |
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Source: Economic Development Partnership, Economic Profile 2002-2003
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AREA MARKET DATA
Here are some important statistics to examine when considering North Augusta for your company's next location |
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COMMERCIAL AND INDUSTRIAL BUILDING PERMITS
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2000
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2001
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2002
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2003
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| Permits |
7
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16
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16
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26
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| Value |
$1,412,219
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$4,176,442
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$12,588,841
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$8,655,089
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Source: North Augusta Building Standards Department
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HOME SALES
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| Averages |
1998
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1999
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2000
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2001
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2002
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| Sale Price |
$90,514
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$94,633
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$96,677
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$108,269
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$110,593
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| Days on Market |
150
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76
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73
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82
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81
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| List Price to Sales Price |
97%
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97%
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97%
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98%
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98%
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Source: Multiple Listing Service: North Augusta/Belvedere, Mary Pate, Meybohm Realty
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RESIDENTIAL BUILDING PERMITS
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2000
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2001
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2002
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2003
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| Units |
128
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190
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197
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239
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| Value |
$16,258,840
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$22,153,768
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$22,153,768
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$29,942,380
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Source: North Augusta Building Standards Department
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SUBDIVISION APPROVALS
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2000
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2001
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2002
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2003
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| Lots |
116
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162
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85
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245
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| Acres |
46
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69
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30
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137.54
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Source: North Augusta Department of Economic and Community Development
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POPULATION
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Year
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North Augusta
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Aiken County
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1950
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3,659
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53,137
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1960
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10,348
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81,038
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1970
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12,883
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91,023
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1980
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13,593
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105,625
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1990
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15,684
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120,940
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1991
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15,801
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123,372
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1992
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15,918
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125,804
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1993
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16,036
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128,236
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1994
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16,156
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130,668
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1995
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16,276
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133,100
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1996
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16,397
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135,532
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1997
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16,519
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138,243
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1998
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17,015
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135,920
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1999
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17,182
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137,290
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2000
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17,574
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142,552
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| The United States Census Bureau has recorded the population of the City of North Augusta and Aiken County in the decennial years 1950 through 2000. The figures for 1991 through 1999 are estimates by the City of North Augusta Department of Economic & Community Development. Aiken County statistics 1991 through 1999, Woods & Poole, 1998. |
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| PROJECTED POPULATION |
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Year
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North Augusta
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Aiken County
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Metro Area
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2010
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20,195
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161,470
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586,526
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2015
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21,649
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171,720
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568,526
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| 2000 POPULATION BY AGE (Percentage) |
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Age
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North Augusta
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Aiken County
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Metro Area
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Less than 18
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25.2
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26.2
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27.0
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18 to 20
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34.2
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73.8
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73.0
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21 to 61
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71.5
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69.8
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68.3
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62 to 64
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16.2
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15.2
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13.1
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65 and Older
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14.2
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12.8
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10.9
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| AGE / INCOME |
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2000 Census
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2002 Estimate
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2007 Projection
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| Median Age |
37.7
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38.3
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39.2
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| Per Capita Income |
$15,883
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$24,557
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$28,394
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| Average Household Income |
$38,317
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$53,264
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$59,108
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| Median Household Income |
$33,295
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$45,093
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$49,250
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This is 1 mile ring data from the intersection of West Avenue and Martintown
Roadnear the geographic center of the city. Source: Claritas, Inc., 2002. Income
data represents 1990 Census figures converted to Census 2000 geographies.
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| COST OF LIVING INDEX (2002) |
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| City |
Percent |
Aiken-Augusta MSA ...........................................................
Atlanta, GA ...........................................................................
Columbia, SC ......................................................................
Charlotte, NC .......................................................................
Charleston, SC ....................................................................
Jacksonville, FL ...................................................................
Nashville, TN ........................................................................
Savannah, GA ......................................................................
Tampa, FL .............................................................................
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94.5
94.1
93.0
99.6
100.7
95.0
90.1
99.7
96.8 |
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National Average = 100
Source: ACCRA Cost of Living Data; Augusta Metro Chamber of Commerce, 2002
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