Horry County South Carolina Business Climate

Horry County Top 20 Employers

Horry County Department of Education

Wal-Mart Associates Inc.

Horry County Council

Myrtle Beach Farms

AVX Corporation

Coastal Carolina Univeristy

Conway Hospital Inc.

Grand Strand Regional Medical Center

City of Myrtle Beach

Southeast Restaurants Corporation

Loris Community Hospital & Extended Care

Food Lion LLC

Horry Telephone Cooperative Inc.

Lowe's Home Centers Incorporated

Horry Georgetown Technical College

Bluegreen Corporation

OS Restaurant Services Inc.

Legends Resorts Employment

Coastal International Security Inc.

Conbraco Industries Inc.

Source: S.C. Employment Security Commission Labor Market Information
(NOTE: Source no longer gives exact employment figures or contact information)

Largest Manufacturing Employers In Horry County

	Company Name/Location
1.	AVX Corporation (Myrtle Beach and Conway)
2.	Conbraco Industries, Inc. (Conway: two divisions)
3.	Wolverine Brass (Conway)
4.	Sun Publishing Company, Inc. (Myrtle Beach)
5.	Precision Southeast, Inc. (Myrtle Beach)

Source: S.C. Employment Security Commission

Tax Structure and Tax Incentives

South Carolina's corporate income tax rate is 5%. Certain income is allocated while other income is apportioned. For most multi-state manufacturing operations the amount of income apportioned to South Carolina is determined by the Three-Factor Formula with Double Weighted Sales.

Source: South Carolina Department of Revenue, Tax Incentives for Economic Development, 2006 Edition.

Corporate Income Tax Credits

Job Tax Credits: South Carolina provides companies with a credit against their corporate income tax liability for new jobs created anywhere in the state. Credits range from $750 to $8,000 per job, depending on the number of jobs created, the type of business, the location, and the wage rate. Companies creating new jobs in facilities or sites designated as "multi-county industrial parks" receive an additional $1,000 credit per new job created. New jobs created in Horry County receive job tax credits of $1,250 to $2,500 per job. Credits may be used to offset up to 50% of the company's corporate tax liability and have a 15-year carry forward for unused credits. Companies must create a minimum of 2 new jobs to qualify.

Corporate Headquarters Credits: Companies that meet specific job requirements in establishing a corporate or division headquarters in South Carolina are eligible for a credit equal to 20% of their lease cost for five years, OR 20% of the building design/construction costs. This credit may be used to eliminate the company's corporate income tax liability for up to 10 years.

Investment Tax Credit: Companies locating or expanding in South Carolina counties designated as Economic Impact Zones can receive a credit against their corporate income tax liability of up to 5% of their investment in new production equipment. Horry County has this designation. This credit can be used without limits against corporate tax liability and may effectively eliminate it. Unused credits may be carried forward for ten years.

Child Care Credit: Companies may also claim a credit to South Carolina corporate income tax, bank tax or premium tax for costs incurred in operating a child care program, or for providing child care benefits to employees. The credit can be claimed for payments made directly to licensed or registered independent child care facilities in the name of, and for the benefit of, and employee. The company may claim a credit equal to 50 percent of the child care payments incurred by the employer, up to $3,000 per participating employee. This credit may be "stacked" with other credits. Unused credits have a 10-year carry-forward.

Source: South Carolina Department of Revenue, Tax Incentives for Economic Development, 2006 Edition.

Sales Tax Exemptions

South Carolina levies a 5% sales tax statewide and its counties may levy an additional 1% to fund infrastructure projects or provide property tax relief. Horry County does not levy the additional 1%. However, manufacturers are provided with numerous exemptions that reduce both up-front and long-term operating costs.

Exemptions include:

Equipment used in the production process

Electricity and fuels used in the production process

Raw materials

Repair parts

Packaging materials

Industries investing more that $35 million are eligible for an exemption on material handling equipment.

Source: South Carolina Department of Revenue, Tax Incentives for Economic Development, 2006 Edition.

Property Tax Incentives

Abatement: Companies locating in South Carolina with an investment of $50,000 or more receive an abatement of the county ordinary portion of their property taxes for a period of five years. In general, this will result in a savings of up between 25% and 30% on a company's property taxes. (Note: Companies continue to pay the portion of the property taxes which goes to local public schools.)

Fee-in-Lieu: Companies investing $5 million or more in South Carolina in a five-year period may negotiate fee-in-lieu of property taxes with a county to obtain a reduced assessment and a lower than normal millage rate for a period of up to 20 years.

Source: South Carolina Department of Revenue, Tax Incentives for Economic Development, 2006 Edition.

Enterprise Zone Program

Qualifying companies locating in South Carolina may invest a portion of new employees' state personal withholding taxes in their projects for a period of up to 15 years under the state's Enterprise Zone Act.

Employees' pay rates and the county chosen for a company's Job Tax Credit designation influence the amount of state personal withholding taxes the company may retain. Use of these funds is limited to the acquisition and improvement of real property, public or private infrastructure or training and must be authorized in an agreement negotiated with, and signed by, the South Carolina Coordinating Council for Economic Development.

To qualify, companies must:

Remit a $4,000 application fee with a formal application to the Council.

Reach the minimum level of job creation determined in Council negotiations.

Be a manufacturing, distribution, warehousing or a corporate office facility.

Provide some benefits to employees, including health care benefits.

Source: South Carolina Department of Revenue, Tax Incentives for Economic Development, 2006 Edition.

CATT (Center for Accelerated Technology Training)

Companies locating in South Carolina may have the State of South Carolina use its extensive statewide network of technical colleges to recruit, screen, test, and train workers to specification at little or no cost to the company. The program, known nationally as South Carolina's Special Schools, is operated entirely with state funds and imposes no hiring requirements on companies which use it.

Companies located in South Carolina may use up to $500 per year from and existing employee's state personal withholding taxes to retrain him or her through the state's technical college system. The state's contribution must be matched on a dollar for dollar basis by the company which is also responsible for any excess costs.

SOURCE: South Carolina Department of Commerce, Tax Incentives for Economic Development, 2006 Edition.

Labor Demographic Characteristics
For Horry County and South Carolina

Total Civilian Population (2006)
Horry County: 231,890	South Carolina: 4,321,249

Distribution by Age 2006, Horry County \| South Carolina
15-19	5.4%	6.6%
20-24	6.9%	6.7%
25-34	14.6%	14.3%
35-44	14.7%	14.8%
45-54	13.5%	14.5%
55-59	5.7%	6.2%

Distribution by Sex 2006, Horry County \| South Carolina
Male	49.4%	48.3%
Female	50.6%	51.7%

Education (Age 18+) 2006, Horry County \| South Carolina
High School Graduates	86.1%	82.0%
1-3 Years of College	26.9%	28.1%
College Graduates	28.7%	21.3%
Post Graduates	6.2%	7.9%

Employment: The total non-agricultural wage-and-salary employment for the county was 115,666 (2006). Employment data includes all full- and part-time wage and salaried workers employed in the county. Employment statistics are based only on people who work in the county or study area. These people may or may not reside in the county or study area.

Work Force Levels: Overall, South Carolina boasts a higher per capita percentage of craftsmen, operatives, and laborers than the average percentage for the nation or the Southeastern states. U.S. Bureau of Labor Statistics figures indicate that 29.6% of the employees in South Carolina were craftsmen, operatives, or laborers in 2005 compared with a 24.1% national average.

Unemployment Rate: Over the years, Horry County has increased the number of employment opportunities and has seen a growth in population. In 2006, the average annual unemployment rate increased to 4.9% (South Carolina unemployment rate = 6.6%), a 1.3% increase from the 2000 rate of 3.6%.

The unemployment rate reflects number the individuals who are seeking work. The unemployment rate should be used in conjunction with other labor force data to obtain a more comprehensive picture of the availability of qualified recruitable labor. The rate does not include those persons who have chosen not to participate in the labor force.

Underemployed: In the 30-mile draw area, 18.6% of the labor force has individual gross earnings of $16,640 or less per annum in tax year 2005. This is equal to approximately $8.00 per hour based on a 2,080 hour work year common to business and industry and represents some 23,350 residents. Workers from this relatively low earnings group are among the first to respond to more rewarding job opportunities and are a valuable source of experienced, recruitable workers to new and expanding industry and business.

Commuting Patterns: Approximately 9,000 workers from Horry County commute daily to jobs outside the county. Experience has shown that workers in this group will usually respond to comparable or better employment opportunities closer to home.

Persons Reaching Employment Age (18): A continuing increase in the number of high school graduates who choose not to go to college, combined with an already youthful population will provide large numbers of entry-level candidates in the future. An estimated 21,000 persons in a 30-mile radius will reach employment age between 2000 and 2017. Slightly more than 51% are male. Of those graduating from high school, about 61% will continue on their education. The bulk of the remainder will enter the work force.

SOURCE: US Census Bureau, US Bureau of Labor and Statistics
South Carolina Employment Security Commission, Labor Market Information.

Horry County Labor Information

The majority of jobs in Horry County are related to the services necessary for successful tourism businesses. Approximately 63% of Horry County's employment is tourism related. Horry County's year-round population in 2006 is 231,890.

Over the years, as Horry County has increased the number of employment opportunities and has seen a growth in population, it has been able to steadily decrease the annual unemployment rate. In 2006, the unemployment rate was 4.9%, a 0.5% from the rate of 5.4% in 2004.

Horry County Employment by Sector	2006	1998
Construction	9.9%	5.7%
Manufacturing	3.6%	8.1%
Transport/Utilities	1.5%	2.6%
Wholesale/Retail	17.8%	35.8%
Finance/Ins./Real Est.	6.9%	7.5%
Services	49.3%	29.4%
Government	11.0%	10.9%

Manufacturing Employment 2006
Durable Goods	80.0%	Lumber and Wood	7.2%
Furniture	4.4%	Stone/Clay/Glass	5.9%
Machinery (Not Electrical)	2.6%	Electrical Equipment	32.1%
Transportation Equipment	7.0%	Fabricated Metal	20.3%
Instruments	0.5%	Non-Durable Goods	20.0%
Food/Kindred Products	1.2%	Textiles	1.0%
Apparel	1.0%	Paper/Allied Products	19.0%
Printing/Publishing	3.6%

Employment By Industry 2006
Farm employment	778	Nonfarm employment	115,666
Private employment	102,533	Ag. services, forestry, fishing, & other	778
Mining	45	Construction	12,098
Manufacturing	4,193	Transportation and public utilities	22,670
Wholesale trade	2,037	Retail trade	18,605
Finance, insurance, and real estate	7,618	Services	36,348
Government and government enterprises	13,133	Federal, civilian	516
Military	539	State and local	12,594
State	2,724	Local	9,870

Sources: U.S. Department of Commerce, Bureau of Economic Analysis, Regional Accounts Data for Horry County, SC, 1998.
South Carolina Department of Commerce, 1999.

Payroll Classifications

NAICS Code	Description	Units	Annual Payroll ($000)	Paid Workers
31-33	Manufacturing	205	159,228	4,316
42	Wholesale Trade	260	97,348	2,241
53	Real Estate, Rental, Leasing	526	140,216	5,366
54	Professional, Scientific And Technical Services	669	127,964	3,277
56	Admin., Support, Waste Mgmt. and Remediation Services	529	169,300	6,590
61	Educational	40	6,164	293
62	Health and Social Care	512	282,252	7,464
71	Arts, Entertainment and Recreation	218	97,916	5,523
72	Accommodation and Food Services	1,166	516,122	30,207
81	Other Services (exc. Public Administration)	668	59,604	2,840

SOURCE: South Carolina Employment Security Commission, Labor Market Information, Census of Employment and Wages, 2006.

Horry County Wage & Salary Data

South Carolina is a Right-To-Work state. Employer-Employee relations in South Carolina are very stable and the state consistently ranks as the least unionized in the nation. In 2006, South Carolina had the lowest union membership rate in the United States at 3.3 percent. South Carolina has consistently had one of the lowest work stoppage rates in the United States. In 2002, an average of less than .01% of working time was lost due to strikes in manufacturing and non-manufacturing industries combined.

Wages and Salaries

The average wage for all full-time and part-time wage and salaried workers in Horry County was $26,884 in 2006. As the following table indicates, average wages in South Carolina overall are below the U.S. average.

Myrtle Beach Metropolitan Statistical Area - 2005 Wage and Salary Estimates

Occupational Title	Mean Hourly Wage	Mean Annual Wage
Chief executives	$58.05	$120,719.00
General and operations managers	$31.81	$66,162.00
Advertising and promotions managers	$23.84	$49,591.00
Marketing managers	$34.90	$72,591.00
Computer and information systems managers	$31.86	$66,264.00
Financial managers	$31.15	$64,793.00
Human resources managers	$26.77	$55,675.00
Industrial production managers	$37.11	$77,199.00
Purchasing managers	$26.08	$54,243.00
Construction managers	$31.75	$66,031.00
Food service managers	$20.67	$42,989.00
Lodging managers	$17.60	$36,601.00
Property, real estate, and community association managers	$18.88	$39,275.00
Loan officers	$23.00	$47,832.00
Computer support specialists	$14.10	$29,332.00
Civil engineers	$26.57	$55,257.00
Healthcare practitioners and technical occupations	$26.00	$54,086.00
Registered nurses	$22.37	$46,528.00
Medical and clinical laboratory technicians	$22.14	$46,060.00
Police and sheriff's patrol officers	$17.33	$36,053.00
Waiters and waitresses	$6.79	$14,130.00
Amusement and recreation attendants	$7.62	$15,841.00
Recreation workers	$10.22	$21,250.00
Cashiers	$7.69	$16,000.00
Counter and rental clerks	$10.01	$20,825.00
Retail salespersons	$10.73	$22,310.00
Sales representatives, wholesale and manufacturing, technical and scientific products	$23.28	$48,416.00
Real estate sales agents	$16.95	$35,219.00
First-line supervisors/managers of office and administrative support workers	$17.87	$37,169.00
Hotel, motel, and resort desk clerks	$8.64	$17,963.00
Shipping, receiving, and traffic clerks	$10.21	$21,247.00
Executive secretaries and administrative assistants	$14.68	$30,535.00
Data entry keyers	$9.97	$20,739.00
Carpenters	$14.29	$29,719.00
Electricians	$15.45	$32,133.00
Roofers	$12.92	$26,871.00
Sheet metal workers	$14.43	$30,020.00
Construction and building inspectors	$17.75	$36,918.00
First-line supervisors/managers of mechanics, installers, and repairers	$24.03	$43,354.00
Automotive body and related repairers	$18.99	$39,498.00
First-line supervisors/managers of production and operating workers	$22.71	$47,238.00
Truck drivers, light or delivery services	$11.63	$24,183.00
Industrial truck and tractor operators	$10.83	$22,528.00

Source: Source: Bureau of Labor Statistics, South Carolina Labor Market Information, 2005 Metropolitan Area Occupational Employment and Wage Estimates, for the Myrtle Beach, South Carolina MSA.

The major sources of recruitable labor are the underemployed in terms of their gross annual earnings, young adults reaching employment age, those not currently in the work force, job seekers as a result of population growth, commuters and the unemployed. As indicated by the foregoing analysis, this area has a good population and labor force base. Both the population and labor force show positive growth trends, which should continue into the foreseeable future.

US Census Data (2005)	Horry County	South Carolina
Population, 2005 estimate	238,493	4,255,083
Population percent change, 2000-2005 estimate	21.3%	6.1%
Male population, 2005 estimate	117,339	2,072,225
Female population, 2005 estimate	121,154	2,182,858
Population under 18 years old, 2005 estimate	21.1%	24.1%
Population 65 years old and over, 2005 estimate	15.9%	12.6%
White population, 2005 estimate	82.7%	68.4%
Black population, 2005 estimate	15.0%	29.2%
Asian or Pacific Islander population, 2005 estimate	1.0%	1.2%
American Indian, Eskimo, or Aleut population, 2005 estimate	0.4%	0.4%
Hispanic population, 2005 estimate	3.6%	3.3%
White non-Hispanic population, 2005 estimate	79.5%	65.5%
High school graduates, persons 25 years and over, 2005	114,451	1,971,353
College graduates, persons 25 years and over, 2005	26,390	527,072
Homeownership rate, 2000	73%	72.2%
Households, 2000	81,800	1,533,864
Persons per households, 2000	2.37	2.53
Median household money income, 2004 model-based estimate	$36,857	$39,454
Persons below poverty, percent, 2004 model-based estimate	13.9%	15.0%

Source: U.S. Bureau of the Census, State and County Quickfacts 2005