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This Open for Business State Reels in More Investment and Jobs for its Citizens

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Port of Charleston, South Carolina, USA. By Nataliya Hora @ Shutterstock.com

You already have a good idea of which states are open for business, and which states are driving entrepreneurs and small business owners away. But when it comes to the benefits of being a Right to Work state with a pro-business atmosphere, you have probably heard about one state more than any other from Your Survival Guy.

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That state is, of course, South Carolina. Just look at some of the headlines you’ve seen here about South Carolina in the past:

Now, South Carolina has snared even more good-paying jobs for its citizens. The state has attracted a $220 million Walmart facility, the company’s third largest in the United States.

The facility will employ 1,000 people and anchor the development of the Port of Charleston. David Wren reports in The Post and Courier:

At 3 million square feet, the huge logistics site will be Walmart’s third-largest in the country, trailing warehouse hubs in Texas and Illinois.

Groundbreaking on the $220 million project will take place in March and the facility will be in operation by April 2022. At buildout, it will employ 1,000 full-time workers and boost the port’s cargo volume by 70,000 containers a year.

“At a time when job creation is so vital, and — more than ever — our customers are relying on Walmart for the essentials they need during this unprecedented time, we are excited about the impact this new facility will have on the regional economy and how it will help us better serve customers across the Southeast,” Greg Smith, executive vice president of the supply chain for Walmart, said in a statement.

It’s a major step in the SPA’s goal of diversifying its cargo base, which has been largely dependent on manufacturing shipments over the past decade.

“The distribution center announcement is tremendous news for the area, and the South Carolina Ports Authority, representing a major strategic success and putting South Carolina on the map for large retail companies,” said Jim Newsome, the authority’s president and CEO.

Newsome said Walmart “represents the cutting edge in terms of supply chain innovation,” adding the two sides have been negotiating since 2017 and the authority’s purchase of the Ridgeville property along Interstate 26 helped swing the deal.

Read more here.

Your money should be treated well. If you are choosing where to live for retirement or to open a business, pick a state that wants you to succeed, like South Carolina.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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