Economic Development

Cost of Doing Business

Did you know....

• NO state property tax
• NO local income tax
• NO inventory tax
• No sales tax on manufacturing machinery, industrial power or materials for finished products
• NO wholesale tax
• NO unitary tax on worldwide profits
• FAVORABLE corporate income tax structure 

Contact the Lowcountry Economic Alliance for more information on opportunities available in the Beaufort region.   

The Lowcountry is Open for Business

Ever thought of opening your business in paradise?  The Beaufort Region of South Carolina is just the place to start, grow or relocate your business.  The Beaufort Region offers a business-friendly in a beautiful coastal environment that is capable to handle the demands of a growing regional, national andinternational economy.

Ideally located between the ports and airports of Savannah, GA and Charleston, SC, and minutes away from Interstate 95, we are the ideal location to grow your business.

A recent study from DemographicsNow finds that about 2,600 businesses fall within a 30 mile radius of downtown Beaufort.  These businesses collectively employ about 24,000 people.  The average number of employees in a business is 9.  More than 90 percent employ less than 100 people. 

The study further outlined the types of businesses here.  Service/ sector industries, which includes hospitals and hotels, employ about 8,500 people.  Retail, which includes restaurants, is the next largest category employing about 6,300.

The unemployment rate for Beaufort County was 6.8 percent in October 2012. 


Lowcountry Unemployment Rates September 2007 - October 2012

2008 Location Quotient Analysis for Beaufort County

April 2010 Overview of South Carolina's Labor Market

South Carolina Rankings

• #6 best workforce in the nation - CNBC's 2011 Top States for Business
• #14 best "cost of doing business" - CNBC's 2011 Top States for Business
• #2  "Automotive Manufacturing Strength - Business Facilities 2011
• #3 Economic Growth Potential - Business Facilities 2011
• #5 Best Business Climate - Business Facilities 2011
• #8 Workforce Training - Business Facilities 2011
• #8 Lowest Cost of Labor - Business Facilities 2011
• #9 Pro-Business States for 2011 - Pollina Corporate Real Estate
• 11th Most Entrepreneur-friendly State in the Nation - Small Business and Entrepreneurial Council, 2011
• #5 Best Place to Do Business in the County - Site Selection Magazine, 2010
• #8 Pro-Business Regulatory Environment - Forbes Magazine, 2010
• Top Ten Best State for Business - Chief Executive, 2010 poll of CEOs. 
• Charleston, SC #9 for Top Logistics/Distribution/Shipping Hubs - Business Facilities 2011