Florence, South Carolina has developed into a major regional financial hub. Numerous financial companies and banking centers have regional offices in the city.
The Florence region's life sciences cluster is a regional medical hub. The area includes companies such as IRIX Pharmaceuticals, Hoffman La-Roche, HealthSouth, GE Medical Systems, McLeod Regional Medical Center and Carolina Hospital System.
The Fabrication and Metalworking cluster, situated in the region, includes prominent businesses such as ESAB, Honda Manufacturing of South Carolina, Bucor Steel, Angus Palm, Southeastern Steel and Superior Machine.
The Florence area's economy is also bolstered by other notable companies such as Heinz, Du Pont, AT&T, Monster.com, ADP, Johnson Controls, ACS Technologies and QVC.
Florence County's labor market has been placed in the top five in the southeast for the availability of skilled labor by Southern Business & Development.
The largest employment providers in the Florence region:
- Honda of South Carolina - All-Terrain vehicles, personal watercraft
- Nan Ya Plastics Corporation America - Polyester Staple Fiber & Filament
- ESAB Welding and Cutting Products - Welding equipment, cutting machines
- Smurfit-Stone Container Corporation - Kraft liner board
- Nucor Corp., Vulcraft Division - Steel Joists, Girders & Decking
- QVC, Inc - Distribution
- Roche Carolina - Pharmaceutical R&D, Bulk Mfg
- G.E. Medical Systems - MRI manufacturer
- Pepsi Cola Bottling Company - Soft drinks
- ACS Technologies - Customized software
In Florence, a large number of the jobs are provided by the following sectors:
- Accommodation and food services
- Finance and insurance
- Educational services
Notable facts about Florence, South Carolina: Estimated median household income in 2007: $41,000. Cost of living index in 2008: 81.8 (U.S. average: 100). Adult residents holding a bachelor's degree or higher: 26%.
Some of the helpful associations that offer assistance to local companies are:
- Greater Florence Chamber of Commerce
- Florence County SC Economic Development Partnership
- South Carolina Manufacturers Alliance
- South Carolina Economic Developers' Association
- Small Business Administration - South Carolina
The Florence Morning News provides up-to-date news regarding business and the economy in Florence.