Saturday, January 28, 2023

39. South Carolina

An abundant workforce can help your business flourish in the Palmetto State, but quality of life needs attention.

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South Carolina Score and Ranking

Category 2021 Score 2021 Rank 2019 Rank 2021 Grade
Cost of Doing Business 203 31 24 C+
Infrastructure 172 36 30 C-
Life, Health & Inclusion 137 39 D-
Workforce 197 16 28 B-
Economy 144 21 22 B-
Business Friendliness 100 27 35 C+
Access to Capital 73 30 26 D+
Technology & Innovation 72 36 32 D+
Education 69 36 29 D+
Cost of Living 44 22 26 C+
Overall 1211 39 34

Economic Profile

Governor: Henry McMaster, Republican

Population: 5,218,040

GDP growth (Q1 2021): 6.6%

Unemployment rate (May 2021): 4.6%

Top corporate tax rate: 5%

Top individual income tax rate: 7%

Gasoline tax: 24.75 cents/gallon

Bond rating (Moody's/S&P): Aaa, stable/AA+, stable

Major private employers: Bi-Lo, SCANA

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

America's Top States for Business 2021

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