This SC city has one of the fastest-growing economies in the country, rankings show
A South Carolina city is among the fastest growing in the country when it comes to the economy, a new report finds.
Mount Pleasant ranks No. 9 on a list of U.S. places experiencing the most rapid paces of economic growth, according to results released Monday from WalletHub.
That’s a slip from last year, when the town near Charleston earned a No. 2 spot in the rankings from the personal finance website.
To come up with the latest findings, WalletHub says it examined 515 U.S. cities of varying sizes over seven years. Data from companies and government agencies helped analysts determine population, job and business trends, results show.
This year, Mount Pleasant earned a top spot on the list after it ranked 14th in the nation for population growth, results show. The category measured increases in working-age and college-educated residents.
WalletHub says it also weighed the town’s total population growth, which was up an estimated 34% from 2010 to 2019, according to U.S. Census Bureau data. About 91,000 people live in the city, making it among the smallest in the national rankings.
In the report, Mount Pleasant didn’t fare as well in the “jobs & economy” category, ranking No. 65 overall.
That category examined growth in several economic areas, including median income, new businesses and building permits. WalletHub says analysts also weighed cities’ declines in poverty, foreclosure and unemployment rates.
The top cities in the WalletHub rankings were in the South and West, that have seen “rapid growth” in the past 10 years, according to the Census Bureau.
Overall, the top city in WalletHub’s rankings was Fort Myers, Florida. The place experiencing the slowest growth was Erie, Pennsylvania, results show.
