South Carolina is the 5th Best State for Business 2014

Previous State:North Carolina Next State: Indiana No. 05 South Carolina Taxations & Regulations Workforce Quality Living Environment Key Metrics State [...]

May 8 2014 by JP Donlon


Previous State:North Carolina Next State: Indiana

No. 05 South Carolina

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’11-’12: 2.7/strong>
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): 0.2

Unemployment

  • Unemployment Rate Dec. 2013 %: 6.6
  • Comparison with Nat’l Rate (6.70%): -0.1

Domestic Migration

  • Domestic Net Migration 2013: 29,324
  • Rank: 5

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 3,271
  • State & Local Gov’t Employees per 10k Residents: 577.2

State-Local Tax Burden

  • Rate (%): 8.4%
  • Compared to Nat’l Avg. (9.9%): -1.49%
Key Companies
  • ExxonMobil Corp.
  • AT&T Inc.
  • Dell Inc.
  • ConocoPhillips
  • AMR Corp.
  • Fluor
  • Halliburton
  • Southwest Airlines
Development Trend Indicator: Neutral
Manages to boost highway-infrastructure spending without penalizing business.
CEO Comments
“Glad to become part of the great “TEXodus” and moved from CA to TX — been really terrific for us…” 

“Texas still stands head and shoulders above others in their business climate, employee work ethics and living environment.”

Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation