News Summary
In response to extensive construction delays on Hardscrabble Road, South Carolina is proposing a new bill to provide financial relief to local businesses. The legislation, introduced by Representative Hamilton Grant, will enable affected businesses to apply for loans through the South Carolina Department of Commerce, contingent on specific criteria related to revenue loss and operations. Conditions for loan forgiveness are also outlined to ensure financial support for those impacted while maintaining workforce levels. The bill is currently under review and could progress in the upcoming sessions.
South Carolina is taking steps to assist businesses impacted by extensive construction delays on Hardscrabble Road in Richland County. A new bill recently filed in the South Carolina House of Representatives aims to provide financial relief to those enterprises suffering from the ongoing road widening project, which has been in progress since 2017.
For the last six years, Hardscrabble Road has been a source of frustration for drivers, evidenced by the presence of traffic cones and frequent backups. Many business owners in the vicinity have reported significant declines in customer traffic as a direct result of the roadwork. One such owner, Chris Etheridge of Southern Crave, noted that during some weeks, business has dipped by as much as 60%. The decline has raised serious concerns regarding the ability to cover essential operational costs, including payroll, insurance, and rent.
The legislation, introduced by Representative Hamilton Grant, a Democrat representing Richland, proposes that affected businesses could apply for loans through the South Carolina Department of Commerce. To be eligible, businesses must meet specific criteria: they must be located on roads undergoing construction delays for a minimum of three years, must have commenced operations before 2025, and must prove a revenue loss of at least 25% attributed to the construction efforts.
In addition to providing necessary funds, the proposed bill includes conditions under which these loans could be forgiven after one year. Businesses must remain compliant with tax obligations and must allocate at least 60% of the received loan for crucial expenses such as payroll, utilities, or rent. Furthermore, to prevent significant layoffs, businesses must also retain at least 75% of their workforce that was employed prior to the initiation of construction.
As the bill currently stands, funding levels and the specific loan amounts available to each business will be determined as part of the state budget. This means that once the bill progresses, stakeholders will have a better idea of the financial landscape for companies seeking relief.
The proposal is presently in committee and may not reach the floor for a vote before the current legislative session concludes. Nonetheless, if the bill is not passed this session, it is set to carry over into the next legislative session beginning in January, allowing continued discussion and potential amendments aimed at addressing the challenges facing local businesses.
Construction delays like those seen on Hardscrabble Road are not unique to the area; many regions across South Carolina have experienced similar disruptions, leading to a widespread call for legislative action to support businesses in distress. As local economies grapple with the ramifications of prolonged construction periods, the proposed bill represents a significant step toward providing much-needed support and financial relief to local businesses striving to remain viable.
Deeper Dive: News & Info About This Topic
- Columbia Business Report: USC Program Ranked No. 1
- The State: Local News Article
- PR Newswire: Business Announcement
- Greenville Business Magazine: Fastest Growing Companies
- WISTV: AI Company Opening in Columbia
- Wikipedia: Business in South Carolina
- Google Search: South Carolina business aid
- Google Scholar: Impact of construction on local businesses
- Encyclopedia Britannica: Construction delays in South Carolina
- Google News: South Carolina business construction aid
Author: STAFF HERE MYRTLE BEACH
The HERE Myrtle Beach Staff Writers are a collaborative team of journalists, editors, and local contributors passionate about delivering accurate, timely information to the Myrtle Beach community. As part of the HEREcity.com Network, which powers over 100 U.S. city sites including HEREcolumbia.com, our staff draws on collective experience in South Carolina journalism to cover everything from business sales and real estate developments to dining deals and community initiatives. Our Expertise and Background Local Roots in Myrtle Beach Our team includes lifelong Myrtle Beach residents and SC natives with deep knowledge of the area’s history, economy, and culture. We’ve covered key events like the recent developments along the Grand Strand, Myrtle Beach’s tourism and hospitality industry, and growth in local education sectors (e.g., Coastal Carolina University programs). Collective Experience With over 50 combined years in journalism, our staff has backgrounds in print, digital media, and community reporting. We prioritize fact-based stories, drawing from sources like the Myrtle Beach Area Chamber of Commerce, city government records, and on-the-ground interviews. Commitment to Quality Every article is a group effort, involving research, editing, and verification to ensure reliability. We adhere to journalistic standards, citing credible sources and updating content as new details emerge.
