Contact

Union County Development Board
207 South Herndon Street
Union, SC 29379
Phone: 864.319.1097
Fax: 864.319.1099
info@UnionDevelopmentBoard.com

Kathy Jo Lancaster, Executive Director klancaster@uniondevelopmentboard.com

Dolton Williams, Administrative and Marketing Assistant dwilliams@uniondevelopmentboard.com

Opportunity Zones

Union County has identified several potential development sites within the Opportunity Zone. These sites offer investors an outstanding opportunity to address three primary community needs: dining, lodging, and family.

Opportunity Zones are designed to encourage long-term private investments in low-income communities. This new community development program was established as part of the Tax Cuts and Jobs Act of 2017. It provides federal tax incentives for taxpayers who reinvest unrealized capital gains into Opportunity Zones. These zones are designated by governors in every state. Benefits to investors include: deferred taxes on prior gains and if an investor holds the property for at least 10 year, they are eligible for an increase in basis equal to the fair market value of the investment on the date that the investment is sold or exchanged. 

Union County has identified several potential development sites within the Opportunity Zone. These sites offer investors an outstanding opportunity to address three primary community needs: dining, lodging, and family.

Incentives

The City of Union and Union County incentives are designed to lessen tax burden and encourage growth. County incentives are determined on a case-by-case basis, with additional potential tax incentives for projects that address community gaps.

Incentives from City of Union:

  • Capacity Fee (100%) – One time
  • Building Permit Fee (50%) – One time
  • Hospitality Fee (50%) – Annually (up to 5 years)
  • Building License Fee (50%) – Annually (up to 5 years)
  • Accommodation Taxes (50%) – Annually (up to 5 years)

Incentives from Union County: 

  • Infrastructure Upgrade – Grants and Loans
  • Property Tax Incentives
  • Special Discretionary Incentives

Demographics

Population: 2,097

Housing Units: 1,096 (47% owners, 36.4% renters)

Median Home Value: $81,996

Median Household Income: $29,635

Traffic Count HWY 176: 12k-13k/day

Top Employment Sectors:

  • Services: 37.8%
  • Manufacturing: 25.2%
  • Retail: 16.5%

Available Opportunity Zones

Download the flyer for more information

Opportunity Zones

DL1 (Dining and Lodging) See Location Map

Property Size:

Zoning:

Water/Sewer: Available

Rail: Not Accessible

Download Flyer
DL2 (Dining and Lodging) See Location Map

Property Size:

Zoning:

Water/Sewer: Available

Rail: Not Accessible

Download Flyer
FE (Family Entertainment) See Location Map

Property Size:

Zoning:

Water/Sewer: Available

Rail: Not Accessible

Download Flyer