30. South Carolina

The economy is thriving in the Palmetto State, but poor health care is sapping this state’s Southern charm.

A BMW X6 moves through the assembly line inside the Bayerische Motoren Werke (BMW) factory in Greer, South Carolina.
Fred Rollison | Bloomberg | Getty Images
A BMW X6 moves through the assembly line inside the Bayerische Motoren Werke (BMW) factory in Greer, South Carolina.
Category
Score
2018 Rank
2017 Rank
Grade
Workforce 239 21 23 B
Infrastructure 189 35 30 (Tie) C
Cost of Doing Business 217 17 16 A-
Economy 182 17 15 (Tie) B-
Quality of Life 111 42 36 F
Technology & Innovation 104 31 35 C-
Education 101 26 40 (Tie) C
Business Friendliness 72 28 29 C
Access to Capital 43 28 28 C-
Cost of Living 24 27 29 C
Overall 1282 30 29 -

Economic Profile

Governor: Henry McMaster, Republican

Population: 5,024,369

GDP growth (Q4 2017): 3.0 percent

Unemployment rate (May 2018): 4.0 percent

Top corporate tax rate: 5 percent

Top individual income tax rate: 7 percent

Gasoline tax: 20.75 cents/gallon

Bond rating (Moody's/S&P): Aaa, stable/AA+, stable

Major private employers: Bi-Lo, SCANA

Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence

Top States Past Year Rankings

  • CNBC unveils its 12th annual America's Top States for Business study. See where your state ranks in 2018.

  • CNBC unveils its 11th annual America's Top States for Business ranking for 2017, scoring all 50 states on 10 key measures of competitiveness.

  • Top States promos Arm Wrestling

    CNBC unveils its 10th annual America's Top States for Business ranking, scoring all 50 states on 10 key measures of competitiveness.

Latest Special Reports

  • Innovative female entrepreneur examining prototype

    In an era of rapid technological advances and demographic change, how do legacy companies adapt, innovate and evolve? CNBC Evolve features iconic global companies and executives who are embracing change and transforming for the future.

  • Invest in You: Ready. Set. Grow. is focused on improving Americans’ money knowledge of saving, spending and investing.

  • All the tools you need to navigate the financial challenges of planning and paying for college.