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Midlands counties show economic growth

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Richland and Lexington Counties are both ranked in the top five in the state when comes to economic growth, according to a new study from the financial technology company SmartAsset.

The study aimed to find counties with the most incoming investments from business, real estate, government and the local economy. Factors used in the study included business establishment growth, GDP growth, new building permits and federal funding.

Richland finished third overall with a GDP growth index of 4.05. Lexington ranked fifth overall with a GDP growth index of 3.61. Charleston topped the list with a GDP growth index of 4.75.

Richland’s business growth was 1.1%; new building permits were 12.6 per 1,000 homes; and federal funding was $1,420 per capita. Lexington’s business growth was 2.3%; new building permits were 16.5 per 1,000 homes; and federal funding was $244 per capita.

South Carolina’s overall average business growth is -0.3%.

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