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In South Carolina, you can expect a strong, pro-business climate offering low start-up and operating costs, a nationally acclaimed work force training program and affordable living. These are just a few advantages that make doing business in South Carolina so appealing.
NOTE: all the links below are to information presented on other Web sites. Progress Energy is not responsible for the accuracy of content at those sites.
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Business Environment
- Ranked first among 17 Southeastern states in per capita investment
- An $18 million annual fund for highway construction and improvements for economic development purposes.
- Tax increment financing for redevelopment projects.
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Low Business Costs
- Low 5.5 percent corporate income tax rate.
- Jobs Tax Credits - significant income tax reductions based on job creation.
- No local corporate income tax.
- No state property tax.
- No tax on inventories, intangibles or pollution-control equipment.
- No sales tax on electricity and fuels used in manufacturing.
- No sales tax on production machinery & equipment.
- No sales tax on raw materials.
- Property tax reductions through five-year abatement Fee-in-Lieu of Taxes Programs.
- Substantial cash contributions from the State of South Carolina through Job Development Credits to reimburse the company for approved project expenditures.
- Lowest Workers' Compensation rates in the nation.
- Construction costs that rank among the lowest in the nation.
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Transportation
- Within a two day drive of nearly 75 percent of U.S. population.
- Five interstates - 95, 20, 26, 77 and 85.
- Seven major airports, three Atlantic seaports and a 2,500-mile rail network.
- Port of Charleston - second busiest container port on the East Coast.
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Labor
- ReadySC - the nation's top ranked work force training program.
- Low 2.1 percent unionization rate.
- A "right to work" and "employment at will" state.
- Sixteen technical colleges that graduate more than 9,000 people each year.
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Quality of Life
- Recreational opportunities extend from 200 miles of beach to the rolling foothills of the Piedmont.
- A rich cultural heritage is celebrated with art museums, opera houses, theatre, ballet, symphony, Spoleto and other folk festivals.
- Sporting activities and events include top-level collegiate sports, steeplechase, polo, NASCAR, golf, fishing and hunting.
- South Carolina has over 400 golf courses and the moderate weather to play all year.
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