A big part of the working capital that helps South Carolina open its doors to families, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $86 billion in South Carolina’s economy with agricultural loans, mortgages for apartments/multifamily units and office space. Life insurers have purchased bonds to boost industry, infrastructure and economic development in the Palmetto State. We are here to strengthen communities and families across the state.
- $67 billion in stocks and bonds that help finance business development and create new jobs
- $12 billion in real estate, loans and other investments
- $7 billion in mortgage loans on farms, residential, and commercial property
Investing in Office Space
Life insurers have nearly $600 million invested today in office space
mortgages in Spartanburg, Myrtle Beach, Charleston and more,
helping business and commerce grow in South Carolina.
Investing in Industry
Life insurers have invested $912 million in South Carolina for industrial
development in Greenville, Anderson, Florence, Spartanburg and
other parts, contributing to the Palmetto State’s significant growth in
this important economic sector.
Investing in Infrastructure
Life insurers have purchased $1.4 billion in bonds for infrastructure
development in the state, from $339 million in financing for the South
Carolina Ports Authority to $90 million for the Piedmont Municipal
Power Agency and more. These investments help fuel the state’s
advance into the future.
Investing in Apartments/ Multifamily
In Charleston, Greenville, Columbia and more, families and individuals
are residing in apartments and multifamily units in part because of the
financing provided by life insurers. In all, the industry has invested
nearly $2.4 billion in recent years in this sector in the state.
Investing in Retail
With outstanding retail mortgage loans totaling over $1 billion in cities
such as Charleston, Myrtle Beach and Florence, life insurers are
helping fuel the state’s economy and provide jobs. Twenty-eight
percent of jobs in South Carolina are supported by the retail industry.
Investing in Affordable Housing
Life insurers have invested $66 million in bonds issued by the South
Carolina State Housing Finance and Development Authority, an
agency which administers federal and state programs that target low
and moderate-income residents in South Carolina.