Best states for business- South Carolina is #2

Area Development Magazine has come up with the rankings for new and expanding businesses in the United States and South Carolina is ranked No.2. On the heels of Texas, South Carolina has moved up from fourth place in 2011 in part because of growing exports and $3.4 billion dollars worth of investments. Some of those investments include Bridgestone America’s $1.2 billion expansion, BMW’s expansion- bringing their investment in the state to almost $6 billion. There is also Michelin North America’s investment of nearly $1billion in plants around the state creating 500 jobs.
So, you might ask your self why is South Carolina so appealing? Well, South Carolina offers great training/ development programs, competitive labor, and a willing workforce with the advanced skill sets needed for new operations. Editors of the magazine pointed out that Ready SC , South Carolina’s workforce development program, has trained more than 250,000 workers for 2,000 companies.

More GREAT things happening in South Carolina: Ranked No.2 for overall business climate, No.3 for infrastructure and global access, and tied for No. 5 in leading the economic recovery.

For more information on this article please see GSA Business Journal or Area Development Magazine

Study shows increase in South Carolina home sales for July

The S.C. Realtors said in their monthly home sales report that sales are up by 13.4% statewide. Which indicates a trend toward rising prices and more homes sold in a shorter time on the market. This is great for many sellers who have waited to place their homes on the market as new listings in South Carolina increased 2% and pending sales were up 11%. Another great sign for optimistic sellers is that the inventory of unsold homes has gone down 15.1% and low interest rates have helped as they dipped below 3.49% for a 30-yr fixed mortgage.  However, we still have a ways to go before sustained recovery as consumers are still lacking confidence in both the economy and their family finances.
The strongest increases in the number of homes sold were in the Spartanburg and Hilton Head markets reaching 25% in both areas.

Here are some market facts:

  • The strongest price range was $200,001-$300,000 with a 15.4% increase in sales during July, compared with the year-earlier month.
  • The bedroom count with the strongest sales in July was 4 bedroom or more, and sales up 15.1%.
  • Condominiums were the property type with the strongest sales, up 11.4%. 

Huffington Post: South Carolina ranks 8th in the top 15 states for female entrepreneurs

According to a report in the Huffington Post, South Carolina is the 8th best state in the nation for growth in women-owned businesses. 

According to the report, nationally women-owned businesses have grown at a rate 1.5 times faster than all businesses–50 percent since 1997.  In South Carolina, the growth rate for the same period was 63.6 percent.  There were 105,100 women-owned businesses in South Carolina in 2011. 

The number one state for women-owned businesses?: Georgia.  Eight of the top 15 states are in the South.  Read the report at huffingtonpost.com by clicking here.

GSA Business: S.C. Ranks 16th in Friendliness Toward Small Businesses

South Carolina ranked No. 16 nationally for friendliness toward small business, according to a recent survey by Thumbtack.com, in partnership with the Ewing Marion Kauffman Foundation.

The Palmetto State received an overall grade of B+, garnering mostly high marks in the two-month survey that involved 6,000 small-business owners nationwide.

Other key findings for South Carolina included:

  • It costs relatively little to hire a new employee in South Carolina — the state was the second-least costly place in the nation to hire a new employee. 
  • Women-owned small businesses in South Carolina were significantly more optimistic about their financial future than their male counterparts. Female entrepreneurs were 15% more likely than male entrepreneurs to rate their company’s financial situation as likely to improve over the coming year. 

The state received a grade of A+ for the ease of starting a small business, cost of hiring a new employee and friendliness of environmental regulations. It received an A for overall regulatory friendliness, and friendliness of employment, labor and hiring regulations.

CEOs rank South Carolina 7th best state in which to do business

Chief Executive magazine ranked South Carolina the seventh best state in which to do business, an improvement of one spot from the 2011 survey.

The top states include:

  1. Texas
  2. Florida
  3. North Carolina
  4. Tennessee
  5. Indiana
  6. Virginia
  7. South Carolina
The bottom states include:
   44. Connecticut
   45. New Jersey
   46. Michigan
   47. Massachusetts
   48. Illinois
   49. New York
   50. California
The survey asked 650 CEOs to rate states in the areas of tax, regulation, quality of work force, and living environment.  According to the report, most of the top 20 states are right-to-work states.