South Carolina Recognized as a Top 10 State for Site Selection Criteria in Area Development Survey
South Carolina’s business-friendly focus gains more national recognition with site consultants’ #3 ranking
COLUMBIA, S.C. – October 4, 2010 – The South Carolina Department of Commerce announced today that South Carolina has been named among the top 10 states for key site selection criteria, according to Area Development magazine’s recent survey of highly respected site consultants who work with a nationwide client base. South Carolina ranked #3 overall meeting key location requirements, according to the magazine’s survey.
"Over the past eight years we’ve worked to improve South Carolina’s business climate with reforms that allow companies to be competitive, and that means keeping regulatory burdens limited and taxes low. Today’s recognition, along with a string of positive announcements on the economic development front, demonstrates that these efforts are indeed paying dividends - even during this difficult economic time. I’d thank those small business owners and constituents from across the state who’ve made their voices heard and helped keep the state’s soil conditions attractive for business investment, and ask that they continue these efforts going forward," said Gov. Mark Sanford.
Area Development surveyed a select group of national site consultants, which are hired by corporations to scout and analyze locations that meet a company’s investment requirements, to name their “top picks” in each of the following categories: lowest business costs, most business friendly state, corporate tax environment, overall labor climate, workforce development programs, fast-track permitting, rail and highway accessibility and shovel-ready sites. This was the first survey the magazine conducted to obtain state rankings.
South Carolina was the consultants’ top choice in the lowest business costs (#1) category, and among their top-five picks in the most business friendly (#3), corporate tax environment (#3), overall labor climate (#3), workforce development programs (#3), fast-track permitting (#3) and shovel-ready sites (#5) categories.
South Carolina was one of only two states in the survey meeting seven of the eight criteria. None of the states in the survey met all eight. “This is significant because a state that ranks high in just two or three criteria may be sorely lacking in meeting other important requirements,” according to the magazine’s article. Results of the Area Development survey can be found at www.areadevelopment.com/siteSelection/sept2010/top-states-doing-business39016.shtml.
These rankings add to a number of recognitions the state has received this year. Business Facilities magazine ranked South Carolina #1 for Economic Growth Potential, #4 for Best Business Climate, #3in Automotive Manufacturing Strength, #2 in Wind Energy Manufacturing Leaders and #9 in Alternative Energy Leaders. Pollina Corporate Real Estate Inc., a corporate real estate consultant, ranked South Carolina as the fourth most Pro-Business State and has ranked the state among the top five for the last six years.
About S.C. Department of Commerce
The S.C. Department of Commerce works closely with economic development professionals throughout the state to recruit new jobs and investments and help existing businesses grow. Commerce has been recognized for its success in the areas of job creation and economic impact by Area Development and Business Facilities magazines. The S.C. Department of Commerce was one of 10 state economic development organizations to receive Area Development’s Silver Shovel Award in 2009 and Commerce received the 2009 Deal of the Year award from Business Facilities magazine. Southern Business & Development also awarded the S.C. Department of Commerce the “Deal of the Year” for the 2010 SB&D 100. Commerce received the recognitions for Boeing’s selection of North Charleston for the company’s second final assembly plant to support the 787 Dreamliner program. In addition to job and investment recruitment, the agency provides a range of business support services and offers grants for community development and infrastructure improvements. For more information, visit www.SCcommerce.com.