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Cost of Doing Business

Here in the Myrtle Beach area, we’ve steadily emerged as a prime destination for doing business. We understand that creating a business climate where companies will thrive and prosper is essential to the success and growth of the local economy.  

The business climate in South Carolina is consistently nationally recognized.  

  • In 2015, South Carolina was ranked No. 3 in the U.S. for Top States for Doing Business by Area Development Magazine
  • Forbes ranked the Myrtle Beach are #15 for The Best Places For Business And Careers in 2015.  

 

Businesses from around the world have relocated and expanded their companies to the Myrtle Beach area because of the pro-business climate, low tax rates, low utility costs and competitive wages.

  • At 5%, South Carolina's corporate income tax is among the lowest in the Nation.  
  • Energy costs in South Carolina cost approximatly 15% less than the national average. 
  • The Palmetto State is a right-to-work state and has a unionization rate of only 3.7%. 

 

Location Is Everything 

The Myrtle Beach region is conveniently located within an estimated one-day drive many major metropolitan areas, a five-hour drive of Charlotte and Atlanta, and about two hours from the port cities of Charleston, SC and Wilmington, NC.

  • Myrtle Beach is strategically located halfway between New York, NY and Miami, FL. 
  • The Port of Charleston is located just a short drive is the nation’s eighth largest seaport, handling more than $44.8 billion in waterborne commerce in 2014. 

Myrtle Beach International Airport sees thousands of people pass through its terminals each day, and with non-stop flights to over 30 cities, Myrtle Beach offers great access for business and leisure travel.   

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Cost of Doing Business - Regional Overview

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