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%
Money Report
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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