Conway, SC, January 27, 2026
Conway is undertaking meticulous planning for its financial future with the proposed $109 million Fiscal Year 2025-26 budget. This budget reflects a strategic investment in public resources to foster a thriving environment for local businesses and supports the economic growth in the region. With a focus on fiscal responsibility and community input, the city aims to pave the way for sustained prosperity amid rising economic activity across Horry County.
WHAT’S HAPPENING
What is Conway’s proposed budget for the upcoming fiscal year?
Conway has proposed a $109 million budget for Fiscal Year 2025-26, which recently underwent its first reading. This reflects the city’s ongoing commitment to strategic investments and fiscal responsibility for community growth.
How is the Horry County economy performing currently?
Horry County is experiencing robust economic activity, with residents collectively infusing $30 billion into the local economy in 2025. It is recognized as one of South Carolina’s fastest-growing counties, also seeing Myrtle Beach rank among the top five U-Haul growth cities nationwide.
What makes South Carolina a top state for doing business?
South Carolina ranked 2nd overall in 2024 for doing business, driven by factors like available real estate, strong business incentive programs, and efficient permitting processes. The state’s GDP increased by 6.9% in 2024, showing resilience and growth.
How is Conway fostering local business growth and innovation?
Conway actively supports growth through initiatives like its Economic Development Grant Program, which funds projects and incubators for new or expanding businesses. The region also features innovation hubs like eMYRge at the HTC Aspire Hub for technology startups.
What were some recent adjustments made in Conway’s prior budget and what’s the city’s approach to fiscal management?
Conway’s FY2024-25 budget included a 16% property tax millage increase primarily for public safety salaries and a 3.9% increase in utility fees. The city prioritizes fiscal responsibility, requiring a balanced budget annually and involving public hearings for transparency and community input.
Conway Charts a Course for Fiscal Future: Examining the FY2025-26 Budget Amidst Regional Growth
Conway, a vibrant hub within the Grand Strand, is meticulously planning its financial future with the recent first reading of the proposed $109 million Fiscal Year 2025-26 budget. This crucial step in local governance reflects a commitment to strategic investment and fiscal responsibility, integral elements for fostering a thriving environment for Myrtle Beach SC business and the broader regional economy.
The budget deliberations underscore a proactive approach to managing public resources, a hallmark of effective local leadership that recognizes the interplay between sound financial policy and sustainable economic development. As our community continues to attract new residents and enterprises, the responsible allocation of taxpayer dollars becomes paramount, paving the way for sustained prosperity and innovation championed by South Carolina entrepreneurs.
A Closer Look at Conway’s Proposed Budget
The Conway Council recently held the first reading for its proposed $109 million budget for the Fiscal Year 2025-26. This follows the comprehensive budget for FY 2024-25, which totaled $86,103,154, representing a 10% increase over the previous year’s budget. Key adjustments in the prior fiscal year included a 16% increase in property tax millage, from 87.7 mills to 101.7 mills, primarily dedicated to covering necessary public safety salary increases. Additionally, solid waste collection fees, stormwater fees, and water and sewer rates saw an increase of 3.9%, aligning with the Consumer Price Index (CPI) rate. The city is also phasing out the bulk user rate in Public Utilities over three years, with affected customers to be notified. The proposed FY2025-26 budget signals continued attention to vital public services and the infrastructure necessary to support the growing community.
Horry County’s Economic Momentum
The proposed budget comes at a time of robust economic activity across Horry County. In 2025, Horry County residents collectively infused an impressive $30 billion into the local economy. This substantial contribution highlights the region’s vibrant entrepreneurial spirit and the enduring impact of individual and local business achievements on sustained growth within the Myrtle Beach area and beyond. Horry County has earned recognition as one of South Carolina’s fastest-growing counties, a testament to its dynamic economic landscape.
Further demonstrating its economic strength, South Carolina ranked second overall in Area Development Magazine’s 2024 “Top States for Doing Business.” This ranking acknowledged the state’s strong business environment, particularly in areas like available real estate, business incentive programs, efficient permitting processes, and dedicated workforce development initiatives (State-level). The statewide economy exhibited resilience and growth, with a gross domestic product (GDP) of nearly $350 billion in 2024, marking a 6.9% increase from the prior year (State-level). Economists from the University of South Carolina’s Darla Moore School of Business assessed the state’s economic performance at a “B+” level, noting consistent wage growth surpassing inflation and historically low unemployment rates (State-level).
Fostering Business and Innovation
The City of Conway itself is increasingly recognized as a desirable and affordable place to live, characterized by a thriving local economy and appreciating real estate values in 2025. The median home price in Conway hovered around $285,000 as of mid-2025. This growth is significantly driven by Conway’s strategic proximity to Myrtle Beach and the broader expansion of the regional economy, contributing to steady job growth in Horry County over the past five years. The area continues to attract new residents, with Myrtle Beach notably being among the top five U-Haul growth cities Nationwide in 2025, indicating significant inbound migration.
Horry County’s environment is particularly favorable for Myrtle Beach small business, boasting a business-friendly tax structure, utility rates below the national average, and competitive wages. The county also benefits from one of the lowest unionization rates in South Carolina. Supporting this economic vitality, the Myrtle Beach Regional Economic Development Corporation (MBREDC) actively works to attract, retain, and expand sustainable businesses, focusing on job creation and diversifying the regional economy.
Local government plays a direct role in nurturing growth through initiatives like the City of Conway Economic Development Grant Program for 2024-2025 and 2025-2026. This program provides funding for projects that stimulate economic activity, including vital support for small business incubators and efforts to expand or recruit new businesses. Horry County’s overall employment is projected to grow by 1.6% over the next decade, with higher growth rates anticipated for occupations requiring advanced education.
Strategic Investments in Workforce and Technology
South Carolina demonstrates a strong commitment to investing in tech-minded entrepreneurs and innovators, evident in a remarkable 27.5x increase in capital invested in South Carolina startups since 2011 (State-level). The Myrtle Beach area has developed a thriving network for technology startups and entrepreneurs, featuring co-working spaces and innovation hubs such as eMYRge at the HTC Aspire Hub. This hub provides flexible workspaces, resources, mentorship, and community-driven programs, fostering an environment where ideas are launched and businesses can scale.
Beyond direct business support, Horry County government has launched “Elevate Horry,” a forward-thinking initiative designed to inspire innovation, foster collaboration, and streamline governmental processes. The program’s goal is to enhance efficiency and continuously improve services for the community. Furthermore, to assist businesses in navigating regulatory landscapes, the South Carolina Small Business Environmental Assistance Program (SC SBEAP) offers free, non-regulatory services to help small businesses comply with environmental regulations (State-level). Community organizations like Conway Downtown Alive also contribute significantly, working to stimulate economic development and promote downtown vitality, offering grants, networking, and promotion opportunities for businesses within the Historic District.
Fiscal Prudence and Community Engagement
The importance of fiscal responsibility in local governance cannot be overstated. The Government Finance Officers Association (GFOA) of the United States and Canada acknowledges excellence in financial reporting through its Distinguished Budget Presentation Award Nationwide, underscoring the value of transparent and effective budget practices. In South Carolina, there is a continued focus on responsible budgeting, with frameworks like the South Carolina Responsible Budget that advocate for a Responsible Spending Limit (RSL) tied to less than population growth plus inflation, and a mechanism for using surpluses to reduce personal income taxes (State-level). Evidence from other states suggests that sustainable budgeting practices correlate with stronger economic growth, increased job creation, and improved fiscal stability (Nationwide).
Local governments in South Carolina are required by the state Constitution to pass a balanced budget each year. Public hearings, such as the one scheduled for the FY26 budget on May 27, 2025, are integral to this process, ensuring community input and transparency. The first reading of the FY 25-26 Adopted Budget Ordinance is slated for June 23. These processes highlight the commitment to democratic oversight and the public’s role in shaping their community’s financial future.
The adoption of policies that prioritize local businesses is another avenue for economic stimulus. Local vendor preference purchasing policies allow communities to strategically use locally generated tax dollars to boost both public and private economic activity without necessarily increasing taxes or government spending. Horry County’s circumstances are comparable to other coastal counties in the Carolinas in this regard.
Key Features of Conway’s Financial and Economic Landscape
| Feature | Detail | Scope |
|---|---|---|
| Proposed FY2025-26 Budget | $109 Million (First Reading) | Local (Conway) |
| FY2024-25 Budget | $86,103,154 (10% increase) | Local (Conway) |
| Horry County Economic Contribution (2025) | $30 Billion by residents | Local (Horry County) |
| SC “Top States for Doing Business” (2024) | Ranked 2nd overall by Area Development Magazine | State-level |
| SC GDP (2024) | Nearly $350 Billion (6.9% increase) | State-level |
| SC Economic Performance Grade | “B+” by University of South Carolina economists | State-level |
| Myrtle Beach U-Haul Growth (2025) | Among top 5 growth cities | Nationwide |
| SC Capital Invested in Startups (since 2011) | 27.5x increase | State-level |
| Horry County Projected Employment Growth | 1.6% over next ten years | Local (Horry County) |
| Distinguished Budget Presentation Award | Presented by Government Finance Officers Association (GFOA) | Nationwide |
Looking Ahead
Conway’s diligent work on its annual budget, combined with the broader economic strengths of Horry County and South Carolina, paints a picture of a region focused on sustainable growth. The emphasis on supporting local businesses, fostering innovation, and maintaining fiscal discipline provides a solid foundation for continued prosperity.
As the Conway Council moves through the final stages of its FY2025-26 budget approval, it reinforces the principle that responsible governance and a vibrant private sector are two sides of the same coin for enduring economic health. We encourage all residents and businesses to remain engaged in the ongoing discussions about our community’s future and to actively support the South Carolina entrepreneurs and Myrtle Beach small business owners who contribute daily to our shared success.
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Author: STAFF HERE MYRTLE BEACH
The HERE Myrtle Beach Staff Writers are a collaborative team of journalists, editors, and local contributors passionate about delivering accurate, timely information to the Myrtle Beach community. As part of the HEREcity.com Network, which powers over 100 U.S. city sites including HEREcolumbia.com, our staff draws on collective experience in South Carolina journalism to cover everything from business sales and real estate developments to dining deals and community initiatives. Our Expertise and Background Local Roots in Myrtle Beach Our team includes lifelong Myrtle Beach residents and SC natives with deep knowledge of the area’s history, economy, and culture. We’ve covered key events like the recent developments along the Grand Strand, Myrtle Beach’s tourism and hospitality industry, and growth in local education sectors (e.g., Coastal Carolina University programs). Collective Experience With over 50 combined years in journalism, our staff has backgrounds in print, digital media, and community reporting. We prioritize fact-based stories, drawing from sources like the Myrtle Beach Area Chamber of Commerce, city government records, and on-the-ground interviews. Commitment to Quality Every article is a group effort, involving research, editing, and verification to ensure reliability. We adhere to journalistic standards, citing credible sources and updating content as new details emerge.
