Incentive Program for New Retail and Commercial Businesses

The Cheraw Town Council recently passed an ordinance authorizing incentives to help attract new retail and commercial businesses to Cheraw. The following incentives are in place for any new retail or commercial business:

• Waive any tap fees.
• Building permit fee: 50% would be waived.
• Business license fee: pay 50% fee the first year, 75% the second year, and 100% fee thereafter.
• Hospitality fee: pay 50% fee the first year, 75% the second year, and 100% fee thereafter.
• Local Accommodations tax: pay 50% fee the first year, 75% the second year, and 100% fee thereafter.
• Facade grant/building improvement up to $5,000 matching grant.
• Would assist business with state programs such as Abandoned Buildings Act tax credit, Textile Communities Revitalization Act tax credit, and Retail Facilities Act tax credit.

All new commercial or retail businesses will be required to pay any and all fees upfront and will be reimbursed at the end of the fiscal year.

It is the responsibility of the new retail or commercial business to request reimbursement of any incentives due. New retail or commercial businesses will have from July 1st - July 31st to make the reimbursement request or forfeit the incentive due.