TEGA CAY once again makes the list! It’s been our little secret for a long time, now the secret is out. Here’s how the experts are seeing it:
South Carolina is on the economic rise in a big way. People are moving from the midwest and northeast to South Carolina to take advantage of job growth opportunities and lower taxes. The State’s cost of living index is 14% lower than the national average, and the population has grown 4% from 2009 to 2012.
NerdWallet.com crunched numbers of 91 communities in SC to find the top cities on the rise in South Carolina. NerdWallet looked at:
1. Population growth.
2. Employment growth.
3. Income growth.
Guess which two cities were the top two? Lake Wylie and Tega Cay. Here’s what NerdWallet said about the two top communities.
1. Lake Wylie ( BTW, not an incorporated city)
Beachfront property and low taxes are just two reasons why folks are flocking to Lake Wylie. Lake Wylie claimed the top spot for not just one, but two of our growth metrics: working-age population increase and median income growth.
2. Tega Cay
Tega Cay’s population is exploding: The city saw its working-age population grow 61.9% from 2009 to 2012. Tega Cay benefits from low taxes and its location for workers who commute to Charlotte. Residents find top-rated schools and waterfront properties. The city has the 10th highest employment rate in the state and median income growth of 17.43%. There are four new communities in development at an estimated $80 million investment.
Other factoids from NerdWallet’s article about the growth of South Carolina:
- Industries are moving to South Carolina because of the low corporate tax rate.
- Commuters will cross state lines. Residents who commute across state lines to Georgia and North Carolina demonstrate South Carolina’s strength as a low-tax haven.
- South Carolina is getting younger and wealthier.
Here is a link to NerdWallets Cities on the Rise in SC article.