South Carolina

39. South Carolina

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An abundant workforce can help your business flourish in the Palmetto State, but quality of life needs attention.

Economic Profile

Governor: Henry McMaster, Republican

Population: 5,218,040

GDP growth (Q1 2021): 6.6%

Unemployment rate (May 2021): 4.6%

Top corporate tax rate: 5%

Top individual income tax rate: 7%

Gasoline tax: 24.75 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

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