South Carolina is located in the Southeastern United States.
North Carolina is on its northern border, and the Atlantic Ocean is on the southeast. The state shares its southwest border with Georgia. Its largest city is Charlestown with its capital being Columbia. Named in honor of Charles 1 King of England, North Carolina covers 32,030 square miles of space and is the 23rd most populated state in the US.
South Carolina has a very diverse industrial sector. It contains just the right amount of industry for an interested investor. Here are the main economic drivers in South Carolina
South Carolina is home to mega aerospace providers such as Boeing. The state has proven to be a mecca to top aerospace suppliers due to a skilled labor force. It also has a high-end infrastructure and advanced manufacturing skills.
Life Sciences and Biotechnology
Large pharmaceutical and biotechnological companies have made their home in SC. This state has shown commitment to life sciences and has cultivated several expansions and investments. It has top-notch hospital systems and services and research and development advancements. South Carolina is the number one destination for cutting edge institutions.
Due to South Carolina’s location, access to commercial services is a breeze. The state has five major airports. It also has timely access to airports in both Atlanta and Charlotte. North Carolina is a convenient and accessible hub. Its location is a great help to both local and international trade. Also, being the seventh-largest port in the US makes SC a desirable destination. It’s perfect for imports and exports businesses.
The demand for cleaner, newer, faster, and more innovative vehicles is increasing. South Carolina continues to encourage and strengthen its automotive plants and related supplies. Known for its advanced technology, SC continues to attract industries. These industries include manufacturing not only vehicles but also the associated parts, etc.
We live in an age where climate change is no longer a distant thought but a reality. South Carolina has made strides in the ability to convert wastage. It turns garbage into new and usable materials. It boasts more than 500 companies involved in creating a cleaner environment. South Carolina leads in our quest to save the earth.
South Carolina also has a quest to encourage economic activity. The state wants to continue to keep its unemployment ratio in the low single figures. SC provides statutory incentives such as:
- No taxes on inventory
- Nontaxable local income
- No state property taxes
- No sale taxes applied to whole products
- No sale taxes on power for industrial purposes, industrial and manufacturing materials. There’s also no sales tax on their finished products.
This state also offers a favorable income tax structure. This structure makes doing business in SC desirable.
South Carolina has a population of about five million persons and a labor force of two million. This state has a diversified type of labor, but has invested in its human resources, and provides several avenues for continued learning and advancement. The commitment by both government and industries continues to produce a skilled workforce. This workforce can commit and adapt as technology continues its advances.
About Market Research in South Carolina
Quantitative, Qualitative, and Strategy Research can give businesses insight into their competitors. It also informs them about their market and customers. It can tell them the best marketing strategies to use. It informs the online marketing strategy. It helps firms plan everything from email newsletters to the design of their website. It also helps with social networking and search engine optimization. Quantitative Market Research includes questionnaires and surveys. Qualitative Market Research strategies include individual interviews, online and offline focus groups, and observations or “shop-alongs.”
If you have a business and you’re looking to set up shop in South Carolina, tap into Market Research. Leverage it to create effective strategies for your business to grow and prosper.