NAICS 23

Construction in Florence, SC

Metro Market Score 26.4 (Favorable), ranked #23 of 342 metros. 312 establishments, 3,378 jobs.

Metro Market Score 26.4

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Favorable

ⓘ Lower is better. Relative to national construction average.

✓Favorable Market🌱Emerging Market

Florence ranks in the top 10% for construction market conditions, driven by above-average employment growth. With a market score of 26.4, conditions are relatively favorable compared to most metros.

Industry Concentration

12.6

LQ: 0.72

Rank #43 of 342 metros

Wage Competitiveness

21.9

$65,130 avg wage

Growth Trend

↑ 70.2

Employment growth index

Rank #103 of 342 metros

Wage Pressure

44.2

YoY wage change index

312 Construction Firms in Florence

312

Establishments

+2.3% YoY

3,378

Total Employment

+4.3% YoY

$65,130

Average Annual Wage

+8.7% YoY

0.72

Location Quotient

Below national avg

Within South Carolina

#1 of 8

construction metros in state

South Carolina state rank

#30 of 51

for construction entry risk

vs State Median

-23.3

better than median (49.8)

Florence vs South Carolina Statewide

How this metro's construction market compares to South Carolina overall. The state ranks #30/51 for entry risk.

Measure	Florence	SC Statewide
Overall Score	26.4 Favorable	47.0 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#23 of 342 metros	#30 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Florence

Real Estate and Rental and Leasing 34.7 Healthcare and Social Assistance 34.8 Professional, Scientific, and Technical Services 44.1 Information 47.0 Finance and Insurance 47.3 Accommodation and Food Services 47.5 Other Services 50.7 Administrative and Support Services 53.4 Retail Trade 61.9

Construction in Other South Carolina Metros

Columbia 30.8 #44/342 Spartanburg 37.5 #82/342 Greenville-Anderson-Greer 44.2 #139/342 Charleston-North Charleston 49.8 #189/342 Sumter 59.9 #283/342 Myrtle Beach-Conway-North Myrtle Beach 60.0 #285/342 Hilton Head Island-Bluffton-Port Royal 66.9 #319/342

Construction Metros With Similar Conditions

Metros within 5 points of Florence's 26.4 score. Useful when comparing markets with comparable entry profiles.

Monroe, LA 26.3 #22/342 Tuscaloosa, AL 26.6 #24/342 Johnstown, PA 26.0 #21/342 Ames, IA 25.8 #20/342 Eagle Pass, TX 25.7 #19/342 Kankakee, IL 27.1 #25/342 Dothan, AL 27.3 #26/342 Tallahassee, FL 27.6 #27/342 Jackson, MS 25.1 #18/342 Atlantic City-Hammonton, NJ 27.9 #28/342

Construction in States Bordering South Carolina

State-level entry risk for construction in adjacent states. Use this to weigh cross-border options.

North Carolina 38.2 #15/51 Georgia 42.1 #25/51

Browse Construction in Other States

State-level entry risk reports for construction across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Florence's construction sector, the employment growth component (29.8) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Florence, SC MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment