World Finance

World Finance

March 15, 2017 05:30 ET

South Carolina's investment boom

LONDON, ENGLAND--(Marketwired - March 15, 2017) - With stunning scenery and a laid-back lifestyle, South Carolina has always been one of the top US destinations for travellers looking for a quiet getaway. That said, the state is worth far more than just a visit, with many international businesses choosing to establish themselves there. In fact, for three of the last five years, South Carolina has ranked first in attracting jobs through foreign investment per capita, according to research conducted by IBM-Plant Location International.

The companies who are choosing to invest in the Palmetto State are many and varied. In 2016, Japanese chemical, pharmaceutical and IT company Teijin announced a $600m investment in a new carbon fiber production plant, while China Jushi announced the construction of a new manufacturing facility that is expected to result in $300m of investment. Indeed, last year alone, the state's capital investment topped $3.4bn.

All of this investment is having a remarkable effect on South Carolina. For example, in 2016, the state's unemployment rate fell to the lowest level since 2001.

Part of the Palmetto State's draw is its convenient location between New York and Miami, together with its wealth of rail, road and airport connections that make it a perfect location for businesses to serve the swiftly growing population in the US southwest.

The success of South Carolina's industries can also be attributed to the state's highly skilled and diligent workforce, which is supported by one of the best training programmes in the US. Called readySC, the programme has led screening, hiring and training initiatives for more than a quarter of a million workers and almost 2,000 companies.

With such winning attributes, South Carolina's future is only going to be filled with more success. For more on the numerous investment opportunities that exist in South Carolina, pick up a copy of the latest edition of World Finance or visit:

http://www.worldfinance.com/

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