South Carolina is 5th Best State for Business 2014

Previous State: North Carolina Next State: Indiana

No. 5 South Carolina

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 1.2
  • % 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
  • Sonoco Products
  • AVX Corporation
  • SCANA Corp.
  • ScanSource
Development Trend Indicator: Neutral
Manages to boost highway-infrastructure spending without penalizing business.
CEO Comments
“South Carolina and Texas seem to be very pro-business, a good environment to start or bring a business to.” 

“South Carolina has attracted very heavy foreign investment (such as BMW and Michelin) and a rapidly growing aerospace sector (such as Boeing and 200+ other companies in aviation.”

Based on CEO Survey by ChiefExecutive.net

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

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