We wanted to flag that South Carolina was recently ranked among the top 3 states in the nation for doing business. With Republican policies and President Trump’s booming economy we know that South Carolina’s record-breaking economy will continue to grow and benefit South Carolinians across our state.
Area Development Magazine specifically cited South Carolina’s workforce development programs and business incentives as reasons why the state continues to attract top-notch companies and new investments. Under President Trump’s leadership, South Carolinians have seen 117,900 new jobs added, the unemployment rate drop from 4.5 percent to 3.2 percent, and an average tax cut of $1,341.00.
See more below about why South Carolina is leading the way in attracting new business:
Leading Workforce Development Programs
In South Carolina, the ReadySC program is part of the South Carolina Technical College System, and it has trained about 300,000 people since the early 1960s. It focuses on customized recruiting and training for companies locating or expanding in the Palmetto State, which lands second on this list.
Business Incentives Programs
A regular leader in this area is the state of South Carolina, which ranked first for its business incentives programs. The state has enacted a host of performance-based tax incentives that pay off for companies that create jobs and invest in their operations. There are ways to totally wipe out the corporate income tax liability, plus sales tax exemptions reducing startup and operating costs, individualized property tax incentives, and other discretionary incentives. On top of that are education and training programs.