Editing Florence, South Carolina (section)

==Economy==
During the latter part of the 20th century and early 21st century, Florence's economy was transformed from being based largely on rail and farming into a diversified economy as the major commerce, finance, rail and trucking services, health care, and industrial center of the Eastern Carolinas.<ref name="Florence Business Climate">{{cite web |url=http://www.fcedp.com/business_climate |title=Florence Business Climate |publisher=Fcedp.com |access-date=October 14, 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110929153539/http://www.fcedp.com/business_climate |archive-date=September 29, 2011 }}</ref> There are over nine foreign affiliated companies and fourteen [[Fortune 500]] companies in the region. The gross domestic product (GDP) of the Florence metropolitan area {{As of|2009|lc=y}} was $6.8&nbsp;billion, one of the highest among MSAs in the state.<ref>{{cite web |url=http://usmayors.org/metroeconomies/0110/report.pdf |title=Pace of Economic Recovery: GMP and Jobs |access-date=2011-10-14 |url-status=dead |archive-url=https://web.archive.org/web/20110707152215/http://usmayors.org/metroeconomies/0110/report.pdf |archive-date=2011-07-07 }}</ref>

Milken Institute 2008 Best Performing Cities Index showed the Florence MSA as the 5th largest gainer in their evaluation of the top 124 small metropolitan areas in the United States. The report ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary and technology growth.<ref name="Florence Business Climate"/>

Florence has blossomed into a strong center for medical care, with four major medical providers [[McLeod Health|McLeod Regional Medical Center]], [[Medical University of South Carolina Hospital]], Regency Hospital and [[HealthSouth]]. The growth of these providers has led to the transformation of the Florence skyline over the last 10 years, with development for demand with multi-story high-rises as well as community relation projects.

With such a strong medical community several companies have their global, continental, or national headquarters in Florence, including [[GE Healthcare]] manufacturing operations ([[Magnetic resonance imaging|MRI]] manufacturing), [[TRICARE]], a supplemental insurance company that serves the [[US Armed Forces]] and its civilian employees, and [[Assurant]], a real property and personal insurance company. The city also serves the [[pharmaceutical industry]], with a Patheon pharmaceutical manufacturing facility and research and development center for Patheon API Services.<ref>{{cite web |url=http://www.patheon.com/About/Our-History.aspx |title=Global Pharma Contract Development & Manufacturing (CDMO) |website=Patheon.com |access-date=2017-01-25 |archive-url=https://web.archive.org/web/20150924064952/http://www.patheon.com/About/Our-History.aspx |archive-date=2015-09-24 |url-status=dead }}</ref>

Florence also serves as the financial and service hub for the Eastern Carolinas, with many financial and professional management institutions invested heavily within the city. Companies with regional operations and headquarters include [[Truist Financial]], [[Monster.com]], [[Otis Elevator]], [[CSX Transportation]] and [[Wells Fargo]]. Florence has operation headquarters for [[AT&T]] and is the southeastern headquarters of [[Duke Energy|Duke Energy Inc.]]

Florence has benefited from being located at the intersection of [[Interstate 95 in South Carolina|I-95]] and [[Interstate 20 in South Carolina|I-20]], approximately halfway between New York City and Miami, Florida. The city is located {{convert|80|mi|km}} east from the state capital [[Columbia, South Carolina|Columbia]], {{convert|70|mi|km}} west from [[Myrtle Beach]], {{convert|120|mi|km}} north of Charleston, and {{convert|110|mi|km}} southeast of [[Charlotte, North Carolina]]. This has allowed Florence to remain competitive and bringing in and sustaining major manufacturers such as, General Electric, [[Honda]], [[QVC]] Distribution Center and Otis Elevator.