Governor Henry McMaster Wednesday night delivered the 2023 State of the State Address before a joint meeting of State Representatives and Senators at the State Capitol in Columbia.
In his now sixth State of the State Address, he declared 2022 the strongest year for economic growth in South Carolina’s history.
"Our booming economy has once against created a record budget surplus, this year totaling over three and a half billion dollars in unexpected revenue," McMaster said. "State government is in superior fiscal shape. Today we have the largest rainy day reserve fund balance and lowest amount of debt that in any other time in recent memory. So it should come as no surprise that 2022 was the most successful year for economic growth in our state's history."
He went on to list the various multi-million dollar investments being made by companies across the state that are expected to create several thousand new jobs over the next several years.
The Governor also explained he is confident in South Carolina’s position ahead of a potential recession thanks to the state’s recent economic growth, record-breaking 3.5 billion dollar budget surplus, and the recently-approved increase to the state’s rainy day reserve fund.
You can watch the Governor's entire 2023 State of the State Address here.