NAICS 52

Finance and Insurance in Florence, SC

Metro Market Score 47.3 (Moderate), ranked #154 of 331 metros. 281 establishments, 1,815 jobs.

Metro Market Score 47.3

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Moderate

ⓘ Lower is better. Relative to national finance and insurance average.

Finance and Insurance employment in Florence contracted year-over-year, placing the growth trend in the upper half at 4.8. Declining job counts can indicate consolidation, population shifts, or reduced local demand. Due diligence on the local economy is especially important here.

Industry Concentration

31.1

LQ: 0.50

Rank #103 of 331 metros

Wage Competitiveness

29.0

$79,613 avg wage

Growth Trend

↓ 4.8

Employment growth index

Rank #316 of 331 metros

Wage Pressure

18.5

YoY wage change index

281 Finance and Insurance Firms in Florence

281

Establishments

-1.1% YoY

1,815

Total Employment

-10.6% YoY

$79,613

Average Annual Wage

-4.5% YoY

0.50

Location Quotient

Below national avg

Within South Carolina

#3 of 7

finance and insurance metros in state

South Carolina state rank

#16 of 51

for finance and insurance entry risk

vs State Median

-3.7

better than median (51.0)

Florence vs South Carolina Statewide

How this metro's finance and insurance market compares to South Carolina overall. The state ranks #16/51 for entry risk.

Measure	Florence	SC Statewide
Overall Score	47.3 Moderate	48.4 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#154 of 331 metros	#16 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

Construction 26.4 Real Estate and Rental and Leasing 34.7 Healthcare and Social Assistance 34.8 Professional, Scientific, and Technical Services 44.1 Information 47.0 Accommodation and Food Services 47.5 Other Services 50.7 Administrative and Support Services 53.4 Retail Trade 61.9

Finance and Insurance in Other South Carolina Metros

Spartanburg 27.9 #31/331 Sumter 33.3 #65/331 Greenville-Anderson-Greer 51.0 #181/331 Hilton Head Island-Bluffton-Port Royal 53.4 #204/331 Myrtle Beach-Conway-North Myrtle Beach 57.8 #234/331 Charleston-North Charleston 70.0 #295/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Florence's 47.3 score. Useful when comparing markets with comparable entry profiles.

Olympia-Lacey-Tumwater, WA 47.4 #155/331 South Bend-Mishawaka, IN 47.5 #156/331 Fayetteville-Springdale-Rogers, AR 47.6 #157/331 Texarkana, TX 46.9 #153/331 Grand Rapids-Wyoming-Kentwood, MI 47.8 #158/331 Casper, WY 46.6 #152/331 Dothan, AL 48.5 #159/331 Elizabethtown, KY 48.6 #160/331 Dayton-Kettering-Beavercreek, OH 48.7 #161/331 Winchester, VA 48.8 #162/331

Finance and Insurance in States Bordering South Carolina

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

North Carolina 48.4 #17/51 Georgia 56.4 #40/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance 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 finance and insurance sector, the employment growth component (95.2) 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