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

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