By FITSNews || Cheap labor, low overhead and a good transportation network are helping South Carolina climb the ladder of the nation’s most business-friendly states.
South Carolina is up six spots this year on CNBC’s annual “America’s Top States for Business” list. The network ranks each state according to ten different categories – cost of doing business, workforce, quality of life, economy, transportation and infrastructure, technology and innovation, education, business friendliness, access to capital and cost of living.
South Carolina ranked No. 31 this year – up from No. 37 a year ago.
While South Carolina held its position in most of the individual categories, its education ranking drop from 39th to 43rd this year. Also, its cost of living ranking fell from 19th to 24th. Those losses were more than offset, however, by gains in technology and innovation, access to capital and business friendliness.
Despite its gains, the Palmetto State still lags behind its more business-friendly neighbors. North Carolina ranked fourth nationally in the survey, while Georgia ranked tenth.
Texas ranked No. 1 on the list (followed by Virginia), while Alaska brought up the rear.
WEB EXTRAS
America’s Top States for Business
South Carolina Profile Page
By sclawboy July 15, 2010 at 10:57 am
Alaska, a state dominated by Republicans, is worst in the country for business, yet supposedly pro-business Tea Partiers (like Nikki Haley) worship the ground Sarah Palin walks on?
By Katherine Jenerette July 15, 2010 at 11:39 am
Nice stuff, but cheap labor, overhead, infrastructure etc. doesn’t mean a thing if the business doesn’t make a profit. Net gain is the magic number not the cost of labor, etc.
If we had expensive but reliable labor, a so-so quality of life, dirt roads but good railroads, a well educated and literate workforce and a business looking for a home did the math and came up with a net profit – they would come to South Carolina.
The final numbers of any cost benefit analysis of starting up a business or relocating a business to a different location or state is the most important number.
Come to think of it, there is a place called India…
By piepton July 15, 2010 at 11:56 am
How are we 43rd in Education and 5th in Workforce when CNBC “rated states based on the education level of their workforce, as well as the numbers of available workers.” Do we have that many people in our workforce that it overcomes our terrible education or are we pulling trained people from other states? Or is CNBC full of shit and just making stuff up? I’m thinking the latter.
By Old Bike Dude July 15, 2010 at 12:59 pm
Oh Katherine you’re cheating. Your not supposed to expose Nimratas motives in public.
By Just Say No to TV Lawyers July 15, 2010 at 1:37 pm
The TV Lawyers and their allies in the General Assembly deserves the “credit” for South Carolina’s weak rating for business friendliness.
Thanks guys … South Carolina couldn’t get these pitiful ratings without your help!
By eggaday July 15, 2010 at 2:01 pm
isn’t getting new business one of Sanfraud’s mantras?
free market , yada yada yada…
bah hum bug
By Danielle July 15, 2010 at 2:21 pm
@piepton
You’d be amazed how many people I run into that are from other states. Not to mention the college students from other states that (for whatever reason) decide to stay and further enrich SC’s workforce. Factor in that plus some additional fluff from CNBC and I think we have it.
By Huhhh??? July 15, 2010 at 9:48 pm
Are The TAXPAYERS paying for sccyber.org to advertise on your site???
By BIN News Editorial Staff July 16, 2010 at 9:14 pm
S.C. advances thanks to public education and a brazillion other great things that S.C. is doing. In spite of wackos like to(xic) willie.
Kombat Katherine and PoohPooh Palin. Neither see anything but rhetoric.
What m@r@ns. But, cute toes. :)
Will Kombat Katherine have the same inflated aspirations as PoohPooh?
You know? Implants. Wondering. Willie should know.
By T4 July 17, 2010 at 1:24 pm
South Carolina ranked 6th in “Cost of Doing Business” category (property tax, business tax, gasoline tax, etc.), according to the CNBC study. Which means that South Carolina (among a handful of others) has some of the lowest taxes in the county. However, it appears that low taxes, contrary to popular belief, do not guarantee prosperity across the board.
I guess all these tax incentives for big business provide very little in terms of education or healthcare. Here’s to stacking the deck against public education!
By John Steinberger July 19, 2010 at 9:52 am
@T4, our 7% personal income tax (which most small businesses pay) is among the highest in the country. LeBron James chose Miami over NY largely because FL has no state income tax. If we passed the South Carolina FairTax Act, South Carolina would become home for Charlotte pro sports teams, NASCAR drivers and their crews, professional golfers, entrepreneurs and wealthy retirees.
What are our state legislators waiting for – Let’s Ax the Income Tax!
By Analyst July 19, 2010 at 11:47 am
@ By Just Say No to TV Lawyers,
Please give one concrete instance of this? Remember, BMW, Boeing, Fuji, Bridgestone, Michelin, Roche, 3M, Benetau are just a few of the places that call SC home.
By Analyst July 19, 2010 at 12:06 pm
@ John Steinberger,
C’mon now, LeBron James chose the the Heat because he wanted to win a title with Dwayne Wade and Chris Bosh in a fun city to live in as an athlete. No offense, but I wouldn’t live in Cleveland either. I don’t know of ANY pro athlete where this crosses their mind when negotiating a 130 million deal. Nice try, but that’s a big stretch.