South Carolina recognized for pro-business climate

For the second consecutive year, South Carolina has been named “America’s Most Business-Friendly State,” based on an independent study published by Pollina Corporate Real Estate Inc.

The study, “Pollina Corporate Top Ten Pro-Business States 2006: America’s Economy in the 21st Century,” evaluates state and federal economic development policies. South Carolina was recognized for its progressive pro-business policies that result in job growth.

Since 2003, Gov. Mark Sanford has championed several initiatives 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 include reforming workers’ compensation laws and making the state more competitive in the global marketplace.

According to the study, there are 112,000 more people working in the state than three years ago, and the state’s unemployment rate dropped to 6.2%, the lowest since October 2002 and lower than when Sanford took office in January 2003. From January 2003 through January 2006, South Carolina outpaced two-thirds of the nation in percentage of job growth.

The other states making the top 10 list were Virginia, South Dakota, North Carolina, Wyoming, Georgia, Florida, Maryland, Alabama and Kansas.