A big part of the working capital that helps South Carolina open its doors, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $85 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 businesses and communities across the state.
- $68 billion in stocks and bonds that help finance business development and create new jobs
- $11 billion in real estate, loans and other investments
- $6 billion in mortgage loans on farms, residential, and commercial property
Investing in Agriculture
Life insurers have invested $213 million in agricultural loans in South Carolina. These mortgage loans help new and veteran farmers alike in the state with essential financing, ensuring the Palmetto State remains a world-class producer of agricultural products from corn, cotton and hay to peanuts, soybeans, wheat and more.
Investing in Apartment/ Multifamily
In Charleston, Greenville, Columbia and more, families and individuals are residing in apartments and multifamily units in part because of the financing providing by life insurers. In all, the industry has invested $1.4 billion in apartment/multifamily mortgages in the state.
Investing in Office Space
Life insurers have invested $443 million for office space in Spartanburg, Myrtle Beach, Sumter and more, helping business and commerce grow in South Carolina.
Investing in Industry
Life insurers have invested more than $415 million in South Carolina for industrial development in Greenville, Anderson, Union, North Charleston and other parts of the state, contributing to the state’s significant growth in this important economic sector.
Investing in Infrastructure
Life insurers have purchased $522 million in bonds for infrastructure development in the state, from $327 million in financing for the South Carolina Port Authority to $81 million for the Piedmont Municipal Power Agency and more. These investments help fuel the state’s advance into the future.
Investing in Economic Development
Life insurers have invested in economic development, with the South Carolina Jobs-Economic Development Authority receiving $32 million in industry financing to help the Palmetto State thrive.