Categories: Best & Worst States for Business

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 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 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

Chief Executive

Chief Executive magazine (published since 1977) is the definitive source that CEOs turn to for insight and ideas that help increase their effectiveness and grow their business. Chief Executive Group also produces e-newsletters and online content at chiefexecutive.net and manages Chief Executive Network and other executive peer groups, as well as conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Chief Executive facilitates the annual “CEO of the Year,” a prestigious honor bestowed upon an outstanding corporate leader, nominated and selected by a group of peers, and is known throughout the U.S. and elsewhere for its annual ranking of Best & Worst States for Business. Visit www.chiefexecutive.net for more information.