Studies give Charleston business bragging rights

Charleston’s favorable placement in three informal business-climate studies will provide economic development officials with some more bragging rights, marketing fodder they can whip out as they beat the bushes in search of new jobs and capital investment.

Forbes magazine recently ranked the region as the 22nd best place in country for business, up 11 spots from last year. Forbes, which weighs factors such as crime, housing affordability, education levels and culture, also said Charleston also was the top place among the three major metropolitan areas within South Carolina for companies.

Meanwhile, a different but similar set of rankings that gave the state poor marks overall was kinder to Charleston. The Gold Guide’s “Best of the Best” rankings, which are compiled by the National Policy Research Council, said the three-county region has the 41st best business climate in the country for small companies and entrepreneurs. In addition, the area took the 11th place spot among U.S. cities for infrastructure, according to the publication.

South Carolina didn’t fare as well, however, placing a lowly 42nd among the 50 states. Specifically, it ranked 45th in economic dynamism, 48th in technology, 47th in health and 46th in public safety indicators.

The one bright post: The state was rated No. 15 in the country for its small business climate.

Finally, Charleston earned praise from Inc. in the magazine’s 2004 list of the best cities to do business. The publication rated the region 22nd nationwide in its balanced economy and growth category.

Overall, Charleston was 58th best place to do business among the 89 medium-size cities that Inc. rated.