Recent economic trends in South Carolina are favorable, according to a report from the Strom Thurmond Institute at Clemson University.
Economist Dr. Bruce Yandle publishes a quarterly Economic Situation Report that looks at national and state economic data. In his most recent report, South Carolina is performing ahead of most other states in several key measures.
For example, South Carolina is among the top 10 states in personal income growth as well as employment growth.
“South Carolina and Florida register the strongest growth in the U.S. eastern half,” Yandle writes. “One must travel all the way west to Colorado to find the next high-growth state.”
When it comes to state budget solvency (matching expected revenues to expected expenses), South Carolina also performs well.
“Again, Florida and South Carolina are the two high-solvency states east of the Mississippi,” Yandle writes. “Most of the states from the Midwest to the Northeast are labeled poor to weak when it comes to state fiscal strength.”
South Carolina also drew notice from Yandle in a measure of entrepreneurship – growth in the number of IRS Form 1099 (self employment) workers. South Carolina was cited as the strongest state east of the Mississippi River and comparable with states such as Louisiana, Nevada, New Mexico, Texas, Utah and Wyoming.