A Thriving Global Economy
Greenville, and the entire Upstate region for that matter, has been blessed with a thriving, healthy and diverse economy that has proved remarkably resilient in spite of recent national trends and downturns. South Carolina at large is a pro-business, right-to-work state that enjoys a highly skilled workforce and excellent way of life. For the past few years, South Carolina has ranked among the "Top 10 Pro-Business States” (Pollina Corporate Real Estate annual study) and has a growing reputation for its commitment to, and ability to attract foreign investment.
The booming Upstate region, centered around Greenville, was formerly based on textile manufacturing—in fact it was dubbed "The Textile Capital of the World.” More recently, that has given way to a dynamic and thriving global economic engine that has attracted such international companies as Michelin North America and BMW. Other major companies such as Monster, Cytec Industries, DuPont and American Titanium Works have made significant investments here in recent years.
The reasons for this success are numerous. First, the area is blessed with a highly skilled workforce that is continually fed by sixteen technical colleges across the state. The state also has no state property tax, no local income tax, and one of the lowest income tax rates in the country. From a location and infrastructure standpoint, Greenville is nestled between two major cities (Atlanta, GA and Charlotte, NC) and has a streamlined transportation system thanks to five major interstates and nine commercial airports. Another attractive feature is the nearby Port of Charleston—a major deep-water hub that is the 7th largest container port in the U.S.
Major Industries in South Carolina
Automotive
Thanks to international companies like Michelin, BMW, Daimler, Freightliner, Bridgestone Firestone, and innovative textile manufactures like Milliken & Company, South Carolina is home to more than 200 automotive related assemblers, suppliers and providers. Recently, CUICAR (Clemson University International Center for Automotive Research) located in Greenville. The 250-acre automotive and research campus focuses on advanced training and education that directly feeds and sustains the area’s commitment to automotive leadership.
Aerospace
The Aerospace industry is also booming in South Carolina. Major players like Lockheed-Martin (located at SCTAC), Honeywell, General Electric, Michelin Aircraft Tires, and Alenia are located here and—along with specific aerospace research programs at the University of South Carolina and Clemson University—are helping propel the state to the forefront of aviation technology.
Advanced Materials
Recently the advanced materials sector has made huge strides in South Carolina. More than 300 plastics companies are located throughout the state and are responsible for the production and manufacturing of a wide range of materials. Major players in this sector include Eastman Chemical, Cytec and DuPont. Because of their leadership and others like them, South Carolina is at the forefront of this growing industry.