Evening Post Industries contributes to SCRA partner fund

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Evening Post Industries, the owner of The Post & Courier, has contributed $250,000 to SCRA’s Industry Partnership Fund, which supports entrepreneurs, academia and industry through grants and investments.

Individuals and corporations can claim a dollar-for-dollar state tax credit for contributions to the Industry Partnership Fund. The maximum annual contribution is $250,000, and the tax credit can be carried forward for up to 10 years.

In addition to meeting state tax obligations, corporate contributors may also be entitled to a deduction against federal income taxes as a business expense.

Evening Post Industries’ $250,000 contribution qualifies it as a diamond-level contributor, according to SCRA, meaning that a grant will be named for the company, the company will be a member of the SCRA Advisory Board and the company will be a member of the Resource Partner Network.

“EPI’s investment in the IPF signals them as a leader supporting high-tech economic development in South Carolina,” SCRA Director of Finance and Administration John Sircy said in a news release.

Evening Post Industries began its newspaper operations in 1896 and now has a portfolio that includes companies in marketing, tech services, real estate, hospice care and pharmaceutical sales.

“We understand the importance of supporting innovation in South Carolina,” Joe Waring, senior vice president and CFO of Evening Post Industries, said in the release. “Our investment is not in SCRA, but in supporting SCRA’s work in helping early stage businesses grow and create jobs. Our investment is in the future of South Carolina.”