Build profitability every day.
Economic climate: One important reason South Carolina consistently ranks as one of the top states in the nation to do business. Southern Carolina’s pro-business support includes ease in regulation that saves time and money, and while a high-impact array of incentives assures faster return on investment, lower costs every day support profitability year in and year out.
STARTUP: Move in with speed and cost-effectiveness
10%
Below the national average for construction costs
#1
In the nation for speed in permitting
[Area Development 2023]
3-13%
Below national average for cost of class AA office space
[Marshall Valuation Service]
10%
Below the national average for construction costs
#1
In the nation for speed in permitting
[Area Development 2023]
3-13%
Below national average for cost of class AA office space
[Marshall Valuation Service]
UTILITIES: Run with abundance and lower costs
7.23%
lowest industrial electricity rate in the South Atlantic region
(U.S. Energy Administration, 2023)
(U.S. Energy Administration, 2023)
10th
lowest gas rate in the U.S.
(U.S. Energy Administration, June 2021)
(U.S. Energy Administration, June 2021)
lowest industrial electricity rate in the South Atlantic region
(U.S. Energy Administration, 2023)
(U.S. Energy Administration, 2023)
lowest gas rate in the U.S.
(U.S. Energy Administration, June 2021)
(U.S. Energy Administration, June 2021)
WORKFORCE: Work productively and profitably
Top 10
State with the lowest workforce costs
[Business Facilities Magazine, 2018]
2.3%
Unionization rate, the lowest in the nation, in a right-to-work state
[U.S. Bureau of Labor Statistics, 2023]
#1
Best state for manufacturing projects
[Site Selection Survey, 2024]
3rd
Best manufacturing workforce in the nation
[Site Selection Survey, 2024]
Top 10
State with the lowest workforce costs
[Business Facilities Magazine, 2018]
2.3%
Unionization rate, the lowest in the nation, in a right-to-work state
[U.S. Bureau of Labor Statistics, 2023]
#1
Best state for manufacturing projects
[Site Selection Survey, 2024]
3rd
Best manufacturing workforce in the nation
[Site Selection Survey, 2024]
TAXES: Net more in a less taxing environment
0
State property tax
Local income tax
Inventory tax
Local income tax
Inventory tax
0
Sales tax on manufacturing machinery, industrial power or materials for finished products
0
Wholesale tax
Unitary tax on worldwide profits
Unitary tax on worldwide profits
State property tax
Local income tax
Inventory tax
Local income tax
Inventory tax
Sales tax on manufacturing machinery, industrial power or materials for finished products
Wholesale tax
Unitary tax on worldwide profits
Unitary tax on worldwide profits
5%
Corporate Income Tax
5th
Best Corporate Rate in the U.S.
As ranked by the Tax Foundation
5%
Corporate Income Tax
5th
Best Corporate Rate in the U.S.
As ranked by the Tax Foundation
Single factor sales apportionment
No throwback rule
COST OF LIVING: Extend buying power
81.0
Cost of living compared to 100 national average
81.0
Cost of living compared to 100 national average