The South Carolina Governor signed the "South Carolina Abandoned Buildings Revitalization Act" into law on June 11, 2013. This will greatly help revitalize unused and empty warehouse space into thriving commercial opportunitiy. There are incentives for the 3 R's, renovation, redevelopment and rehabilitation.
The McNair Attorneys website provides the full detail, below is an excerpt from their article:
"Taxpayers meeting the requirements of the Act can receive a tax credit equal to 25% of the cost of rehabilitating property against either (1) state income taxes and corporate license fees, or (2) property taxes.
In order to qualify for the credit a taxpayer must rehabilitate an abandoned building for commercial use. A building with an immediate preceding use as a single-family residence cannot qualify for the credit. A building is considered to be abandoned if 66% of the space in the building has been vacant or nonoperational for five years."
Let's be honest, most of us looking for commercial space would probably need to make some modifications or customizations before completely moving into the space. This should be a catalyst to take that action and customize the space to your venture. A shell of a space is a great way to open your vision to what it could be instead of settling for what the building already has. Put this tax credit to work for you, so that your business can become what you want it to be.
If you want to see a more data centric view of the law, please visit the South Carolina General Assembly website. The information there will provide you with Status Information, History of Legislative Actions and previous Versions of the Bill.