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BUSINESS CLIMATE

The Upstate region of South Carolina is a strategic location for businesses, both foreign and domestic.

With a reputation for affordable business costs, a business-friendly environment, strong industry clusters and collaborative research ecosystem, our region supports companies of all sizes, from global manufacturers like Bosch and GE to innovative tech start-ups like Chartspan.

Over the last five years, Upstate SC has seen over $12.4 billion in capital investment and has become a top choice for companies interested in doing business in South Carolina.Graphic showing population of Upstate SC and nearby driving markets and logos for largest manufacturers.

Favorable Cost of Business

South Carolina’s competitive cost structure is one of its strongest draws for businesses. Companies in the Upstate benefit from:

  • A low corporate tax rate of 5%.
  • No state-levied property taxes, local income taxes, or inventory taxes.
  • No unitary tax on worldwide profits.
  • No sales tax on manufacturing equipment, industrial power or materials for finished products.

Additionally, the South Carolina Department of Commerce and local governments offer economic development incentives to businesses who choose to relocate or expand within the state.

As a right-to-work state, South Carolina boasts the #3 lowest unionization rate in the nation at just 2.8%. Combined with affordable energy costs, abundant water resources, and a lower cost of living, businesses here can maximize output while minimizing expenses.

Internationally Welcoming Business Environment

As international investment has grown, so has the network of resources for the international community here in the Upstate.

Our region offers international schools, sister cities programs and most importantly, Upstate International, a resource for businesses and families who have relocated from overseas.

International Support & Resources

South Carolina Rankings

  • #2 State for Manufacturing, Site Selection Group
  • #2 State for Doing Business, Area Development
  • #5 Fastest Growing State in the U.S. for 2024, U.S. Census Bureau
  • #1 State for Business Incentive Programs, Area Development
  • #1 State for Favorable Regulatory Environment, Area Development