Axios Live: South Carolina is "obviously doing something right" amid population growth, state lawmaker says
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South Caroline State Sen. Jason Elliott talking with Axios' Mike Szvetitz on stage.
GREENVILLE, S.C. — South Carolina is "attracting folks at record numbers right now," state Sen. Jason Elliott said at an Axios Live event this week.
Why it matters: A surge of new people to the state sets an optimistic tone for business growth and entrepreneurship.
- Axios' Mike Szvetitz spoke with Elliott and Greenville Chamber of Commerce president and CEO Carlos Phillips at the event, sponsored by Mastercard.
What they're saying: "Big picture, we're by percentage one of the fastest growing states in the country, especially in the Southeast," Elliott said.
- South Carolina's success in attracting people likely stems from its affordability relative to comparable areas, he added.
- "Our county of 600,000 will see 20% population growth over the next 20 years or so," Phillips said. "So that's great, and that leads to a lot of opportunities.".
Zoom in: Small businesses, which can indicate economic health, are "surging" in Greenville "like you wouldn't believe," Phillips said.
Zoom out: While South Carolina's population is growing rapidly, it has one of the highest income tax rates in the Southeast, which could eventually deter people from moving to the area or starting businesses there.
- "I'm a little concerned that because we're benefiting from the inward migration, that that's masking some of our bigger problems," Elliott said.
- "If we're not making sure that we're taking care of, attracting, retaining our small businesses, if we're not making sure that we're taking care of our infrastructure and our education, then when that inward migration slows down, I'm concerned that the problems will be more evident and that we've got to be more proactive and not waiting for a crisis point."
Yes, but: "We're obviously doing something right, because we are attracting folks at record numbers right now," he said.
Content from the sponsored segment:
In a View From the Top conversation, Mastercard U.S. market co-president John Levitsky said Greenville's environment for small businesses is strong.
- "Our data shows that small businesses in Greenville are growing very quickly," he said. "Restaurants are growing 8.7% year over year right here in Greenville, according to our data. So we see tremendous opportunity in small business, and so want to invest, we want to help them grow."
