The first South Carolina Soul Fest Food Truck Festival will take place on Saturday, September 10th from 11am until 6pm at SiMT, on the campus of Florence-Darlington Technical College (1951 Pisgah Rd). For more information, contact (843) 468-7489.
The South Carolina General Assembly included a proviso in the FY2022-23 state budget that requires high school seniors to complete a personal finance course as a graduation requirement. In addition to passing the measure, they instructed the S.C. Department of Education to develop regulations for the course as a new graduation requirement by September 30, 2022. Although a few schools throughout the state already required personal finance courses, the majority of the Palmetto state’s schools did not. This new directive is a step up from the state’s economic and financial literacy social studies standards, and it will be the first time a full course for personal finance has been added to the state’s requirements.
According to The Post and Courier newspaper, South Carolina is the 15th state in the country to require a personal finance course. Lawmakers and advocates in South Carolina have long stressed the importance of learning financial responsibility at a young age due to the seriousness of bad financial habits and debt carry. “Good personal finance instruction should teach students about saving, investing, how credit and interest rates work, and about college loans. Students need to be able to evaluate the risk and reward associated with each of their financial decisions,” said Jim Morris, the S.C. Council on Economic Education’s Chief Executive Officer.
For more information, click here.
According to a study compiled by the Tax Foundation, thirteen states joined South Carolina this year in passing tax reform/relief during their respective legislative sessions. Ten states joined South Carolina in passing income tax reductions, with a handful of those states joining South Carolina in modernizing their income tax systems through the collapsing of brackets. As previously noted, S.1087 modernized and simplified South Carolina’s income tax system by collapsing our six existing individual income tax brackets down to three and reduced the top marginal individual income tax rate from 7% to 6.5% effective immediately with a further reduction to 6% over the next five years with triggers to prevent the automatic annual decrease if the state’s general fund revenue does not increase. South Carolina’s legislation also effectively reduced the industrial property tax rate from 9% to 6% by increasing the manufacturing property tax exemption. Due to this reduction, some manufacturers will see annual property tax savings of over $100,000.
Eight states passed corporate income tax reductions this year, although none were located in the Southeast. Ten states joined South Carolina in returning money to taxpayers by passing income tax rebates this session. It is evident that record revenue collections allowed many states to enact tax reform and relief.
For more information, click here.
The Chamber’s Emerging Leaders had their Technology, Innovation and Industry session on Wednesday, July 13th.
The group heard presentations, did informative tours and visited several sites, including: HillSouth, SIMT – Southeastern Institute of Manufacturing & Technology, Vulcraft, Florence County Economic Development and The Manor Senior Living Community.
To view the photos, click here.
The Florence Chamber of Commerce will host its Annual Chamber Membership Luncheon on Wednesday, September 21, 2022, at Florence Center.
Florence County Economic Partnership CEO, C. Gregory “Gregg” Robinson will be the keynote speaker at the Luncheon and will share what’s ahead for regional economic growth and development. Gregg is a South Carolina Certified Economic Developer. His 30-year career encompasses all areas of economic development, including global business recruitment, infrastructure development, marketing, research, and operations.
The Chamber Luncheon is open to Chamber members and all community leaders. It will be held at the Florence Center. Doors will open at 11:30 am and the program will begin at 12:00 noon.
The Business Person of the Year award will be presented at the close of the luncheon program. The Business Person of the Year is sponsored by Wells Fargo.
This program is made possible by our area financial institutions. Reserved tables of 8 are $450 and individual Chamber member tickets are $30 and $40 non-members.
To register, click here.
Sample new wines while enjoying live music featuring Rod Brown. Enjoy an evening of music and refreshment all while supporting quality services for child abuse victims and their families throughout our community. Event to benefit the CARE House of the Pee Dee. Early Bird Tickets are $50 | $60 at the door.
Visit www.thecarehouse.com/wine-tasting for more information including Sponsorship opportunities.
Mark your calendars now for our Annual Kickin’ Chicken Wing & Chili Festival scheduled for Friday, October 21st in Downtown Florence from 5:00 – 9:00 PM. Live music by Inland; Wing & Chili Competition; Craft & Domestic Beer. If you, or someone you know, are interested in participating as a wing or chili competitor, please contact the Chamber now and receive an early bird discount!
