Site Selection, a magazine of corporate real estate strategy and area economic development, recently named South Carolina the fourth-most competitive state in the country for new plants in 2014.
South Carolina’s ranking was based on its favorable corporate income tax structure and pro-business environment, customized incentive programs, and the overall quality of its workforce (South Carolina is a right-to-work state with highly competitive wages and a low unionization rate.)
Additionally, global manufacturing giants BMW and Boeing each announced crucial new and expanded roles for their South Carolina operations in 2014.
Along with South Carolina, six of the other top 10 states on Site Selection’s list were in the Southeast, which speaks to the region’s sustained competitiveness.
A number of criteria were used to arrive at the final scores determining the competitiveness ranking of the states, including the total new and expanded facilities in 2014, capital investment in facilities in 2014, total new jobs created and each state’s performance in other site-selection categories.
The full article on the Top 10 Competitive States of 2014 from Site Selection’s May 2015 edition is available online.