Why South Carolina?
The Southeastern United States’ fast-paced population growth to date, along with the region’s manufacturing renaissance, has made it an ideal location for businesses seeking to cut operating costs and reach strategic markets. In the heart of the Southeast, South Carolina offers unparalleled value to companies seeking the ideal business location.
Reliable, affordable energy
South Carolina has one of the lowest industrial power rates in the nation, costing an average of only 5.9 cents per kilowatt hour — that’s more than 10 percent less than the national average. Over the years, South Carolina’s strong tradition in manufacturing has shaped an ample and durable energy infrastructure that meets the needs of today’s capital-intensive industry.
Low cost to operate and a business-friendly climate
South Carolina is committed to enhancing its business-friendly climate and establishing an environment where businesses can prosper. In fact, South Carolina consistently ranks as one of the most business-friendly states in the nation with a low cost of doing business, a tax base that lends itself to economic growth, and several other incentives:
- No state property tax
- No inventory tax
- No local income tax
- No wholesale tax
- No unitary tax on worldwide profits
- No sales tax on manufacturing machinery, industrial power or materials for finished products
- Pollina Corporation: South Carolina has been named a “Top 10 Pro-Business State” for each of the eight years of the Illinois-based corporate real estate consultant’s survey.
- South Carolina ranks as one of the 10 best states in the nation to do business, according to Chief Executive magazine’s annual poll of CEOs who rate states based on taxation and regulation, workforce quality and quality of life.
- Forbes magazine ranked South Carolina ninth best in 2011 for its pro-business regulatory environment. Forbes considered the state’s regulatory environment, tort climate and incentives.
- South Carolina consistently ranks among Site Selection magazine’s “Top State Business Climates” and took the fifth-place spot for 2011.
- South Carolina is a right-to-work state with one of the lowest unionization rates in the nation.
The Right Connections
Although South Carolina stands out as a unique, powerful entity, it’s connected to key markets in the North, South and West:
- Comprehensive multi-modal transportation network that includes 11 interstate highways
- Expansive rail system that includes two Class I railroads and eight independent lines to service 2,300 miles of rail
- Four major commercial airports in addition to 50 municipal airports
- Three ports, one of which is inland: the Port of Charleston, which has five terminals and has received worldwide recognition for its innovative design and productivity; the Port of Georgetown, which includes specialty cargo-handling facilities; and the inland port in Greer, which expands the reach of the state’s marine facilities more than 200 miles inland.