Area Development, a publication covering site selection and facility planning, has named the top states for doing business and South Carolina comes in at number two, just after Georgia but we can do better.
South Carolina is top state for doing business
It’s not hard to see why S.C. is an of-sought after state for businesses thanks to favorable tax status, a lower cost of doing business, as well as incentives like 20% corporate tax credits.
South Carolina specifically ranked #1 for its business incentive programs and speed of permitting, however, Georgia ranked #1 for cooperative and responsive state government as well as workforce development programs, something South Carolina needs improvement in. WorkSource Georgia initiative is a unified, statewide approach for helping employers and qualified job-seekers find each other, and for spotlighting training and educational opportunities, and South Carolina could take G.A. on as it’s role model.
South Carolina also is consistently ranked among the most business-friendly states, from its tax structure to its support of innovation to its incentives encouraging growth. New and expanding businesses invested more than $4 billion last year and created more than 17,000 jobs, and the state boosted its exports for the sixth straight year, topping $30 billion. Helping the state thrive is an already positive tax environment and business-friendly climate.
How South Carolina can snag the #1 spot for doing business
This report comes at an interesting time considering that North Carolina is losing business thanks to the controversial, discriminatory HB 2 that has been enacted in the state. With this bill many businesses and events are pulling out of the state, looking for new venues. The most recent is the NCAA announcing it’s moving all championship tournament games out of North Carolina in response to HB 2.
With the House Bill 2 fiasco, neighboring South Carolina has the opportunity to cash in on N.C.’s shortcomings, but they must move quickly.
With York County housing Winthrop University just beyond the boarder of Charlotte the city, which continually fights to remove itself from Charlotte’s shadow, has the chance to offer itself to businesses, events, and organizations by default, but they won’t just show up at York County’s doorstep.
We’ve actively been bringing jobs and industry to the state, but the Upstate needs to cash in on tourism, despite not being a coastal area.
By actively seeking to improve and grabbing opportunities, South Carolina can compete for Georgia and come in at #1 this time next year knocking Georgia out of its top spot for doing business if leaders make quick, strategic moves now.