Category

Economic Growth

Summerville Development Boom on the Horizon

Summerville Development Boom on the Horizon

By | commercial development, Economic Growth

Summerville is becoming the place to be with more and more people establishing roots here, and development shifting from the center city of Charleston to the suburbs.  One in three multifamily units built in the last three years have been in such outlying areas as Summerville, Ladson and southwest Charleston. Colliers International’s  Research & Forecast Report  (Q4 2016) shows that Summerville is becoming a coveted region to live in. Since 2014, 936 new multifamily developments have been delivered, with 240…

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Charleston Surpasses Columbia as Largest City in South Carolina

Charleston Surpasses Columbia as Largest City in South Carolina

By | Charleston SC, Economic Growth, SC

The population boom and rapid growth has enabled Charleston to reclaim the number one spot for largest city in South Carolina. Columbia ranked in the number two spot, while Greenville gained recognition as the fastest growing city in the nation east of Texas. Charleston just inched past Columbia for the number one ranking, with 76 more people than Columbia.  The city has an estimated population of 134,385 as of mid-2016. Ten of the fifteen fastest growing cities are located in…

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CEOs Rank South Carolina Number Four for Business

CEOs Rank South Carolina Number Four for Business

By | Economic Growth, SC

For the 13th year CEO’s have ranked how each state fairs as a business friendly environment.  South Carolina ranked number four due to its seventh straight year posting high export sales of 31.2 billion, a $400 million increase over last year, according to the South Carolina Department of Commerce.  Overall the state recruited more than $3.4 billion in capital investments, and created approximately 13,100 new jobs in 2016. The country’s number one exporter, Texas ranked the number one state by…

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USC Economists Predict Steady Economic Growth for Charleston in 2017

By | Charleston SC, Construction, Economic Growth

Construction projects in Charleston, Myrtle Beach and Hilton Head Island continue to spur South Carolina’s economic growth. The boost in construction has led to an increase in jobs and demand for housing as a result of building efforts and will continue into 2017, according to economists who spoke at the 36th Annual Outlook Conference held at the University of South Carolina (USC). Doug Woodward, professor of economics and director of the division of research at USC’s Darla Moore School of…

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harleston Metro Area Anticipates Strong Job Growth

Charleston Metro Area Anticipates Strong Job Growth

By | Charleston SC, Economic Growth

The Charleston job market is among the strongest in the nation heading into the final quarter of the 2016, according to a survey conducted by human resources consulting firm ManpowerGroup (manpowergroup.us).  Nearly a third of employers plan to hire more employees this quarter, while just 4 percent say they will be reducing their staff. The Charleston metropolitan area ranks number sixth best among the nation’s 100 largest metro areas for job growth. The survey results indicate employers are still confident…

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Charleston South Carolina Economy

Charleston Ranks as the Fastest Growing Economy in South Carolina

By | Charleston SC, Economic Growth

Charleston metropolitan area economy is the fastest growing in the state of South Carolina, according to a 2015 federal report from the Bureau of Economic Analysis (bea.gov).  The tri-county area of Charleston, Berkeley and Dorchester counties had an increase of 14.8 percent in its gross domestic product (GDP)during the last five years (2010 to 2015). The Charleston region grew faster than Greenville, which had a 10.2 percent increase during the same time period. The Post & Courier (postandcourier.com) reported on…

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Influx to Charleston Spurs Multifamily Development

Influx of Millennials and Empty Nesters to Charleston Spur Multifamily Development

By | Charleston SC, commercial construction, Economic Growth

The growing population in Charleston, Berkeley and Dorchester counties has resulted in these areas becoming one of the fastest growing regions in the country. The growth in employment opportunities and the high quality of life continues to attract an average of 35 new residents a day to the Charleston metropolitan area, according to a recent report by Colliers International. More than 200,000 people have moved here since the year 2000, as job opportunities have grown by 28 percent during this…

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Economic Strategy

One Region Develops Economic Strategy for Charleston

By | Economic Growth, Uncategorized

Charleston Regional Development Alliance (CRDA) and the Charleston Metro Chamber of Commerce unveiled their five year strategy for economic development of the Charleston metro area. The new plan, called “One Region,” (oneregionstrategy.com) builds on the region’s previous efforts to make the Charleston region more competitive for job growth and business investment. Some “high impact” industries highlighted in the plan include aerospace, automotive and information technology. The plan was developed based on over 1,000 hours of research, surveys, focus groups, and interviews…

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U.S. Commercial Real Estate

Foreign Investment in U.S. Commercial Real Estate Soars

By | commercial real estate, Economic Growth

Foreign investors had a record year in investments in U.S. commercial real estate in 2015.  Foreign investment in direct property purchases totaled $91.1 billion last year, accounting for 17 percent of all such deals in 2015.  According to an analysis done by Real Capital Analytics, Chinese investors emerged as one of the biggest players in the U.S. commercial property market. Canadian investors also were a top foreign source of capital coming into the United States, and were behind several signature…

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economic trends

Experts Identify Five Economic Trends To Watch in 2016

By | Economic Growth

Economists with Marcus & Millichap recently identified five economic trends to watch this year for office and industrial real estate in the company’s “2016 U.S. Office & Industrial Investment Forecast.” The report focuses on economic trends regarding jobs, the oil industry, interest rates and inflation. It also explains the impact these factors have on construction in office and industrial real estate. 1. Declining oil prices may lead to a global slowdown.  The United States economic outlook remains strong, but concern is…

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