South Carolina is the 7th Best State for Business 2012

No. 7 South Carolina Taxation and Regulations Workforce Quality Living Environment Based on CEO Survey by ChiefExecutive.net Key Metrics State [...]

May 2 2012 by ChiefExecutive.net


No 7: South Carolina

No. 7

South Carolina

Taxation and Regulations
Workforce Quality
Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP 

  • % Growth ’07-’10: -2.18
  • % Growth ’07-’10 v. Nat’l Avg. (-0.33%): -1.84

Unemployment

  • Unemployment Rate Dec. 2011 %: 9.50
  • Comparison with Nat’l Rate (8.50%): 1.00

Domestic Migration

  • Domestic Net Migration ’00-’09: 306,045
  • Rank: 7

State Government

  • Debt per Capita Fiscal Year ’10 ($): 3,419
  • State & Local Gov’t Employees per 10k Residents: 577.25

State-Local Tax Burden

  • Rate (%): 8.07
  • Compared to Nat’l Avg. (9.8%): -1.73
Key Companies
  • Sonoco Products
  • AVX Corporation
  • SCANA Corp.
  • ScanSource
Development Trend Indicator: Neutral
Is now tackling reform of taxes, worker’s comp and unemployment insurance.
CEO Comments
“New York is moving in the right direction. I would expect them to move up in coming years. Texas, North and South Carolina are in a class by themselves.”

“The tort bar in South Carolina is very difficult, and nuisance lawsuits are out of control in that state.”

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