Greenville, South Carolina, has one of the Southeast’s most thriving economies thanks to its improvements and innovations in the healthcare, education, and sustainability sectors. But there are a few primary business industries that are becoming extremely successful in the Greenville-Spartanburg area.
Viking Mergers & Acquisitions is here to represent business owners moving into this diverse business city as well as owners looking to sell a business in one of Greenville’s most prosperous industries. Let’s take a look at the top 4 growing business industries in the Greenville-Spartanburg-Anderson area.
Upstate South Carolina happens to be one of the strongest manufacturing sectors in the United States. That’s because of the area’s positive work ethic, pro-business attitude, and government-backed growth incentives. While the area was once well-known for textile manufacturing, the most common types of manufacturing businesses in the Greenville area now include:
- Advanced materials, like polymers and metal alloys
- Automotive manufacturing, like at Michelin and Confluence Outdoor
- Aviation and aerospace manufacturing, like from Lockheed Martin
- Food manufacturing from companies like Nestle
At Viking M&A, we represent business owners spanning many industries, but manufacturing is one of our specialties. Our business brokers in Greenville, SC, have represented multiple manufacturing companies and strive to maintain our prominent and positive reputation within the industry.
#2 Distribution and Logistics
Greenville is centrally located in the Southeast, making it the perfect destination for transportation and logistics companies. That’s because the city has direct access to miles of popular ground transportation routes via I-85 — the largest freight route in the Southeast — and U.S. highways 25, 289, 123, and 276. The city is also near miles of rail lines used to transport goods around the eastern U.S., where a majority of the country’s population lives.
Plus, Greenville is between three of the largest transport hubs in the Southeast: Atlanta, Charlotte, and Charleston. All three cities have large international airports that transport goods all over the country and the world. Charleston is even home to one of the busiest ports on the east coast, so Greenville distribution and logistics companies have even more access to international business opportunities.
Lastly, with as many manufacturing companies currently in Greenville and the growing number of companies coming to Upstate SC, they’re going to need more reliable distributors to get goods from factories to warehouses and from warehouses to shelves.
South Carolina’s tech sector employs tens of thousands, and this number continues to spike as hundreds of firms are opening across the state. The expansion is benefitting Greenville-Spartanburg especially, mainly because of the workforce’s access to higher education from Greenville Technical College, Furman University, and Clemson University.
Since technology has such diverse applications, there is no end to the business opportunities that Greenville can provide in this industry. Current technology companies that call the area home explore applications for augmented reality (AR)/virtual reality (VR), artificial intelligence, cybersecurity, and more in the areas of manufacturing, construction, medicine, education, and consumer use.
Not to mention, Greenville is actually a top choice for data warehouse facilities, thanks to low disaster risk and a workforce with access to quality higher education in cybersecurity and information technology. There are still plenty of areas for new data centers to be built or installed, presenting many opportunities for small and large technology businesses to set up shop.
#4 Pharmaceutical and Biotechnology
The combination of business opportunities in manufacturing, distribution, and technology makes it even better for pharmaceutical and biotech companies to make the Greenville-Spartanburg area home. Businesses in Greenville already produce medical devices, diagnostic technologies, pharmaceuticals, and consumer medical products. The metro area already has operating facilities for Bauch & Lomb, International Vitamin Corporation (IVC), and Rockwell Medical Technologies.
Another factor that makes Greenville an ideal destination for pharmaceutical and biotech businesses is the existing partnerships with nearby universities and colleges, such as with Clemson University and Greenville Technical College, which offers a biotechnology concentration for its associate of science degree. The area is also home to exceptional biotech and R&D programs at top institutions, like:
- The Clemson University Department of Genetics and Biochemistry
- The Genomics Institute
- The Godley-Snell Research Center
- The Institute for Translational Oncology Research at the Greenville Memorial Hospital University Medical Center
Lastly, the area is home to America’s fifth largest workforce in pharmaceuticals and biotech, so there’s an excellent talent pool for your business to take advantage of.
If you’re thinking about selling or buying a business in Greenville-Spartanburg, South Carolina, now is the perfect time. The Viking Mergers & Acquisitions Greenville team is here to support you during the phases of planning your exit strategy. Our goal is to guide you through the acquisition process and secure the highest price possible at closing. Contact Viking today for a complimentary valuation from one of our Greenville, SC, business brokers.
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