24. South Carolina

The Palmetto State offers low costs, a strong economy and sturdy infrastructure. Yet, education is underfunded, and school performance is subpar.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 322 9 8
Workforce 146 25 9
Quality of Life 98 40 41
Infrastructure & Transportation 220 14 15
Economy 255 13 35
Education 49 43 36
Technology & Innovation 118 30 26
Business Friendliness 74 34 34
Cost of Living 41 10 19
Access to Capital 5 41 (Tie) 19
Overall 1328 24 23

Economic Profile

Governor: Nikki Haley, Republican

Population: 4,774,839

GDP growth: 1.2 percent

Unemployment rate (May 2014): 5.3 percent

Top corporate tax rate: 5 percent

Top individual income tax rate: 7 percent

Gasoline tax: 35 cents/gallon

Bond rating/outlook: Aaa/stable

Major private employer: Wal-Mart

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, South Carolina FY 2013 CAFR

Top States For Business

From the Governors

Latest Special Reports

  • Financial Portfolio

    A look at how leading portfolio managers and institutional investors build investment plans to meet clients’ goals.

  • The CNBC All-America Economic Survey shows bright spots in the economy, with housing and stocks in the forefront.

  • Watch investments

    Covering the full set of tools and strategies for long-term investors: How to take everyday market fluctuations in stride, and when to know it’s time to take action or protect against a major economic shifts.