Advocate Stories, Economic Opportunity
Importance of Community Development Tax Credit
by Guest Author, Amber Stewart (SCACED) on Feb 6, 2018
Read below to learn from our guest author, Amber Stewart, Masters of Social Work Student Intern for the South Carolina Association for Community Economic Development.

Please join SCACED (South Carolina Association for Community Economic Development) in supporting the reauthorization of the Community Development (CD) Tax Credit; House Bill 3842 and Senate Bill 412.
Every day, South Carolina families and communities miss out on economic opportunities because they do not have access to money or resources (e.g. education, job training, small business lending, affordable housing, etc.). For years, the CD tax credit has allowed donors who make donations to certified Community Development Corporations (CDCs) and Community Development Financial Institutions (CDFIs) to receive a 33% state tax credit. South Carolina organizations can use the tax credit to attract donor funding then use those proceeds to assist individuals and businesses.
Lucilla Cooper, a young passionate woman with a life goal of becoming a nurse practitioner, enrolled at Anderson University with the intent to become a nurse. Shortly into her sophomore year she learned she was pregnant with her son. Lucilla, although feeling discouraged and not knowing what her future would entail as a young mother, remained optimistic. She advocated for herself by looking for resources and support. Lucilla got involved with AIM‘s (Anderson Interfaith Ministries) Women and Children Succeeding (WACS) program. Through the WACS program, she was able to receive financial assistance to continue her education; she also received free, quality child care; and learned invaluable life skills that helped her grow professionally, financially, and spiritually. Today, Lucilla has graduated from the WACS program, completed her Bachelor’s degree, is fully employed as a registered nurse, and recently started a Nurse Practitioner’s Program at Simmons College. AIM has been able to attract donors to support their WACS program using the CD Tax Credit. Without the reauthorization of the CD Tax Credit, AIM and other organizations will not be able to help others like Lucilla.
“As a nurse practitioner, I wish to promote asset building in these communities; creating a domino effect by diminishing financial, emotional, and physical poverty through helping these individuals reach health equity.”
Lucilla and many other individuals have benefited because of the CD tax credit. It has proven to be an innovative, effective tool. Since 2014 the program has helped achieve the following:
- 926 jobs created or sustained
- 76 businesses created or expanded
- 1,905 individuals received workforce development training
- 1,226 individuals received small business training
- Over $12,325,408 in community business lending
- 616 units of affordable housing developed
- 35 units of affordable homeownership housing developed
- 96 homes weatherized
Contact your local legislatures in support of bill H.3842 and S.412 to continue to support CDCs and CDFIs bringing economic opportunities to women and low wealth communities throughout all of South Carolina.
Learn more about the CD Tax Credit and SCACED:
- Information on bills S.412. & H. 3842
- Visit SCACED’s website