Archive for category: News

SiMT is co-hosting a SC Tech and CyberSecureSC event with the South Carolina Council on Competitiveness on March 29^th from 1-3 at the SiMT. It’s a “listening tour.” They are meeting around the state to brainstorm with business and industry and get a grasp on where the state stands with respect to cybersecurity, talent, and other issues; as well as how to improve security.

We want to make the Pee Dee Region’s needs evident. Please reach out to Tressa Gardner at SiMT for more information and your hopeful participation – Tressa.Gardner@simt.com

Join RedSilk Media on Thursday, March 3^rd from 5:00 – 9:00 PM at the 19^th Green Indoor Golf Center for Business Networking Over Golf. Cost is $10 for Chamber members and $20 for non-members.  This is a recurring event that takes place the first Thursday of each month.

To view the full flyer, click here.

Dueling proposals to address South Carolina’s tax climate were released last week as lawmakers learned that the state has a more significant amount of surplus revenue than initially forecasted. On Tuesday, Governor Henry McMaster and members of House Republican leadership, including Speaker Jay Lucas (R-Darlington), Ways and Means Committee Chairman Murrell Smith (R-Sumter), and Majority Leader Gary Simrill (R-York), released a proposal that would simplify the state’s tax code and reduce the top marginal individual income tax rate.

The proposal would collapse the current six income tax brackets into two, with earners of $16,040 or less paying a rate of 3% immediately and earners of $16,040 or more paying a rate of 6.5%. Additionally, the 6.5% rate would be reduced to 6% over five years. Currently, South Carolina has the highest marginal individual income tax rate (7%) in the southeast.

Senate Finance Committee Chairman Harvey Peeler (R-Cherokee) introduced his comprehensive tax relief bill (S.1087) on Thursday with many Republican and Democratic co-sponsors. Items in his proposal include:

• An immediate reduction of the top marginal individual income tax rate from 7% to 5.7%
• An immediate deduction of all military retirement income from South Carolina taxable income
• A lowering of the industrial property tax rate from 10.5% to 6% while keeping the current fee in lieu system in place
• A Taxpayer Rebate Fund and an allocation of $1 billion to the fund for a one-time rebate to taxpayers.

The 21st annual School Foundation gala will be held on March 24, 2022. Francis S. (Bo) Godbold, a 1961 graduate of McClenaghan High School, is this year’s honoree. He is the Vice-Chairman of the board at Raymond James Financial, Inc., and a trustee-emeritus of Georgia Tech Foundation, Incorporated. Make your reservation today.

For more information, click here.

Richmond Fed Research provides the latest economic analysis and data from the Research Department at the Federal Reserve Bank of Richmond. In their recent, Feb 16  podcast, Tressa Gardner, Associate Vice President of the Southeastern Institute of Manufacturing and Technology provided an overview of what SiMT, the Gould Incubator and other programs that it operates, are doing in supporting small business development in Northeastern South Carolina. Check it out by clicking here.