South Carolina Recognized for Pro-Business Climate
State’s Economic Policies Praised for Retaining Jobs, Business
Columbia, SC – For the second consecutive year, the state of South Carolina has been named America’s Most Business-Friendly State, based on an independent study published by Pollina Corporate Real Estate, Inc., a leading US corporate site relocation expert. The study, Pollina Corporate Top Ten Pro-Business States 2006: America’s Economy In The 21st Century, which evaluates state and federal economic development policies, was unveiled at a news conference and awards ceremony held during the 2006 Manufacturing Week trade show and convention in Chicago.
While most states are losing ground to global competition due to their poor efforts at keeping jobs and attracting businesses, South Carolina was honored for its progressive pro-business policies that result in job growth reports the annual national Pollina study. “While many of the overseas job losses are inevitable, a surprising number of jobs can be kept in the US if we follow South Carolina’s example and make the right efforts to work with businesses to help them compete globally,” says Dr. Ronald R. Pollina, president of Chicago-based Pollina Corporate Real Estate.
South Carolina is very closely followed on the Pollina Corporate Top Ten Most Business Friendly States 2006 list by Virginia. Also honored were South Dakota, North Carolina, Wyoming, Georgia, Florida, Maryland, Alabama and Kansas.
In accepting the award, Hal Stone, managing director of Commerce’s Global Business Development Division said, “On behalf of the state of South Carolina, I’m pleased to accept this award in recognition of the ongoing work by Governor Sanford and Commerce as they continue to work toward improving the business climate in South Carolina. These efforts are resulting in record-breaking investment and job creation as well as raising income levels, which is enhancing the quality of life for our citizens.”
Since 2003, Gov. Sanford has tirelessly championed a number of initiatives that have been enacted to improve the state’s business climate, including lowering income taxes, reducing government spending, and passing tort reform and regulatory relief for small businesses. Current efforts of the administration include reforming worker’s compensation laws and making the state more competitive in the ever-changing global marketplace.
As a result, there are 112,000 more people working in the state than three years ago. And the state’s unemployment rate recently dropped to 6.2 percent - the lowest point since October 2002 and lower than when Gov. Sanford took office in January 2003. From January of 2003 through January of 2006, South Carolina outpaced two-thirds of the nation in percentage of job growth.
Those are just FACTS.