Top States for Business

36. South Carolina

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South Carolina Score and Profile

CATEGORY  2022 SCORE  2022 RANK 2021 RANK  2021 GRADE 
WORKFORCE2122916C
INFRASTRUCTURE1932736C-
COST OF DOING BUSINESS1872831B
ECONOMY2071321B-
LIFE, HEALTH & INCLUSION834739F
TECHNOLOGY & INNOVATION1153136C-
BUSINESS FRIENDLINESS1012327C-
EDUCATION852936C+
ACCESS TO CAPITAL164130D-
COST OF LIVING331822C+
OVERALL12323639

Economic Profile

Governor: Henry McMaster, Republican

Population: 5,190,705

GDP growth (Q1 2022): -1.1%

Unemployment rate (May 2022): 3.3%

Top corporate tax rate: 5%

Top individual income tax rate: 7%

Gasoline tax: 26.75 cents/gallon

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

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

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