South Carolina is one of the fastest-growing states in the country.
And, as a result, the state's overall economy continues to grow.
A recent study by the U.S. Bureau of Economic Analysis shows South Carolina leading the nation in economic growth.
The state’s steady population increase — estimated today to be almost 5.5 million residents — continues to drive the economic expansion.
The state Board of Economic Advisors reported Thursday that South Carolina continues to be one of the fastest-growing states for employment. Employment in the fiscal year, which ended June 30, grew by 2.2%.
As a result of positive economic growth, the BEA said state tax revenues also continue to grow slightly higher than anticipated.
For the fiscal year, the state reported a $726 million budget surplus.
The state Constitution requires a budget surplus to be placed into the state’s rainy day reserve fund.
