The Greenville-Spartanburg area is the largest and fastest growing region in the state that collectively accounts for a population of 1.3 million people. Located approximately halfway between Atlanta and Charlotte along the fast-growing I-85 corridor, Greenville-Spartanburg features a top-ranked business climate, a talented labor force, a high quality of life and an affordable cost of living. The economic growth of Greenville-Spartanburg has been robust, with unemployment achieving its lowest rate in nearly a decade. The area has also established a positive reputation for its business-friendly local and state governments and aggressive economic development initiatives, which continue to attract businesses to this region.
The Greenville-Spartanburg’s growth in the industrial market has been strong and is credited with driving the local economy. While still striving as a manufacturing economy, the region has also seen an increased significance in the automotive, biotechnology, aviation/aerospace, engineering, logistics and distribution businesses. The industrial market has grown to a total 184 million square feet and the area continues a trend of positive net absorption and increasing rental rates, despite the continued surge in new development.