Best States for Business 2019

South Carolina

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South Carolina

gross state product
$247B
population
5.1M
median household income
$52,081
cost of doing business
3% below nat'l avg
college attainment
28%
net migration
59,000 (year: 2018)
unemployment
3.2%
moody`s bond rating
Aaa
governor
Henry McMaster
As of December 2019
Like its neighbor North Carolina, South Carolina has experienced massive net migration into the state over the past five years—resulting in the fifth highest rate in the U.S. The state has been a big proponent of using incentives to lure foreign investment and U.S. companies alike. The Palmetto State’s economy also benefits from its status as a right-to-work state. South Carolina has the lowest union membership as a percentage of its workforce in the country at just 2.7%.
On forbes lists
#21
In Business Costs
#20
In Labor Supply
#17
In Regulatory Environment
#15
In Economic Climate
#12
In Growth Prospects
#39
In Quality of Life
By The Numbers
EmploymentHousingEducationQuality of Life
Job Growth
1.5% (year: 2018)
Projected Annual Job Growth
0.9%
Unemployment
3.2%
Median Household Income
$52,081
Household Income Growth
3.4%
Right to Work State
yes
Union Workforce
2.7%
  • Sources: Moody's Analytics; U.S. Census; ATTOM Data Solutions; FBI; BLS; Forbes.
  • a. Index measures whether a family earning the median income can afford the median-priced home. A value of 120 indicates a typical household has 20% more income than needed for the typical home.
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