South Carolina continues to gain a reputation as a business-friendly environment. The Palmetto State not only has a temperate climate and favorable taxes, but it is also a shipping hub and center for advanced studies. The City of Charleston, in particular, follows these trends and has been luring more and more business over the past decade. Here’s why Charleston is a great place for businesses and some of the best business opportunities in this area.
Why is Charleston a Great Place for Businesses?
There are over 400,000 small businesses in the Palmetto State, and thousands of new ones start here each year. Charleston, in particular, is geographically close to major markets like Miami and New York City. It is also home to SC Ports, which is now the deepest harbor on the East Coast of the U.S. The Port has a $63.4 billion economic impact on the area, making the additional investment even more attractive.
5 Best Business Opportunities in Charleston
When it comes to having a diverse economic landscape, Charleston can hold its own with some of this nation’s largest and busiest cities. The area is now a mixture of startups and established brands. Here are some of the top industries in Charleston, which are also some of this area’s biggest economic opportunities for businesses.
1. Healthcare
With a growing population, the healthcare industry in Charleston is full of opportunities. This is the largest industry in the area, with companies like Palmetto Health and the Medical University of South Carolina.
2. Hospitality
Charleston is popular for visitors and vacationers. In fact, more than 7 million tourists annually visit the city. The area also has a large population of foodies, so the restaurant and hospitality industry in the area is thriving.
3. Education
Education is another sure bet in the Charleston area. It’s one of the top four industries in the area for employment between grade school education and universities like the Medical University of South Carolina, the College of Charleston, and The Citadel.
4. Technology
Charleston, SC, has become one of this country’s newest and brightest tech hubs. There are numerous business opportunities in the technology field with companies already established, like Workiva, ATC, PwC, and Siemens.
5. Aerospace and Defense
Even though Boeing’s headquarters are located in Chicago, the company has a massive plant in Charleston that employs over 7,000 people. Another company, SPAWAR, has estimated annual contracts totaling more than $2 billion.
Make the Most of Your Business Opportunities in Charleston
The right real estate investment or leased commercial space can help your business make the most of its business opportunities in Charleston. At Caldwell Commercial, we take pride in being experts in this area’s real estate market. We have a team of seasoned professionals who are dedicated to helping your find the ideal property for your needs. Contact us today to learn how our high-quality service can help your business succeed.
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