(The Center Square) – South Carolina is ranked No. 21 in the country in economic outlook in the 19th annual Rich States, Poor States ranking.
Fifteen state policy variables are measured in the ALEC-Laffer State Economic Competitiveness Index, released Wednesday by the American Legislative Exchange Council. Better scores go to states spending and taxing less to attain higher growth rates.
Utah, Tennessee and Idaho are the top three, respectively.
South Carolina was No. 29 last year and No. 24 in 2024.
“Generally speaking,” the report explains, “states that spend less – especially on income transfer programs – and states that tax less – particularly on productive activities such as working or investing – experience higher growth rates than states that tax and spend more.”
The 23rd largest state in America has a population estimated just under 5.7 million, up an estimated 450,000 since 2020.
The economic performance rank is No. 6. In the 15 categories scored, the state is tied or at the top as a right to work state, no inheritance tax levied, and state minimum wage of $7.25. Next best was No. 13 in public employees per 10,000 of population (493.2).
The worst rankings are No. 45 for personal income tax progressivity ($21.63) and No. 44 for state tort system costs (2.54%).
