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Over 4.3 million people help to make South Carolina the 24th most populous state in the U.S. The
largest cities in the Palmetto State are Columbia,
Charleston, North Charleston, Greenville,
Rock Hill, Mount Pleasant, Spartanburg,
Sumter, Hilton Head Island, and Florence.
Because of its mild climate and long growing season, agriculture remains a vital contributor to the
economy of the Palmetto State. Top livestock products include broiler chickens, eggs, hogs, turkeys,
beef cattle and calves, and dairy products. Important crops include greenhouse and nursery products,
tobacco, soybeans, cotton, grain corn, wheat, peanuts, hay, and oats; fruit crops such as peaches,
tomatoes, cucumbers, watermelons, squash, beans, sweet potatoes, and pecans; and honey. Fishing and
aquaculture are invaluable to this coastal state’s economy. Primary catches in South Carolina are blue
crabs, shrimp, oysters, catfish, striped bass, crawfish, clams, and snapper. Timber actually provides
the largest cash crop to the state. With over half of the state being covered in forests, South
Carolina offers wood and paper products from softwoods and hardwoods such as longleaf loblolly pine.
South Carolina relies upon water as an important natural resource. The state contains nine river
systems, with some of their estuaries comprising important ports for global import and export of goods.
The state harnesses hydroelectric power in several dammed lakes, and South Carolina’s plentiful ground
water in turn aids agriculture.
South Carolina also contains considerable mineral wealth, with 44 of the state’s 46 counties
containing active mining operations. Important extracted minerals include gold, granite, limestone,
cement, sand, gravel aggregate, clay, kaolin, mica, and vermiculite.
Several industries contribute greatly to the Palmetto State economy. Among these are manufactures
such as textile goods, paper products, chemical products, pharmaceuticals, machinery, and automobiles.
Top service industries include wholesale and retail trade. Much of this trade revolves around the
state’s important, all-seasons tourism industry. Additional contributors to the economy include
numerous military bases, government services, and nuclear facilities.
In 2005 South Carolina had a per capita personal income (PCPI) of $28,285. The 1995-2005 average
annual growth rate of PCPI was 4.0 percent. The average annual growth rate for the nation was 4.1
percent. South Carolina has a homeownership rate of 73.9 percent and an annual unemployment rate of
5.4 percent. The median family income in 2005 was $39,316 and the cost of living in the state ranks
below the national average. South Carolina has a 7% personal income tax at the highest tax bracket
and a 6% sales tax, with prescription drugs exempt.
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