Category

Charleston SC

Economists Give Charleston Slow and Steady Forecast for 2018

Economists Give Charleston Slow and Steady Forecast for 2018

By | Charleston SC, Economic Growth, SC

Four economists gave South Carolina a good economic report for the coming year, stating the economy will continue to grow much like in 2017 at a “slow and steady” pace. University of South Carolina economist Joey Von Nessen said that “if you liked 2017, you’ll probably like 2018 as well,” at a meeting of local Charleston real estate professionals.  Charleston economist Stephen Slifer with NumberNomics gave an optimistic report of “better than ever” for the local region, and stated that…

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Port of Charleston Benefits from Southeastern Economic Boom

Port of Charleston Benefits from Southeastern Economic Boom

By | Charleston SC, Economic Growth

The rise in trade and investments is fueling the U.S. Southeast’s economic growth as more shipping companies choose the Port of Charleston. The Southeast is experiencing a surge in both economic and demographic growth with South Carolina playing a key role in the economic boom. As a result businesses and international companies are looking at production, transportation and logistics operations in the region, with an increasing number of companies choosing South Carolina and the Port of Charleston to take advantage…

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Charleston Economic Report Gives Mixed Reviews

Charleston Economic Scorecard Reports Mixed Reviews

By | Charleston SC, Economic Growth

The 2017 Regional Economic Scorecard gives mixed grades for Charleston metro area in its latest economic report card. The biggest challenge for the region’s growing economy is to create affordable housing near jobs. The area is becoming more congested with traffic since most workers cannot find housing near their jobs.  The Charleston Metro Chamber of Commerce and Charleston Regional Development Alliance released the economic report at the end of 2017, which measures Charleston’s economic health compared to the national averages…

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Historically Low Vacancy Rate Continues in Charleston

Historically Low Vacancy Rate Continues in Charleston

By | Charleston SC, Commercial Space

The vacancy rates in Charleston and surrounding markets are historically low, and will continue as a result of on going tight market conditions.  The vacancy rate at the end of the third quarter of 2017 went down from 7.9 percent to 7.4 percent, according to the latest Collier International Research & Forecast Report for the Charleston region. As a result, rental rates since 2016 have increased by 14.3 percent from $23.55 per square foot to $26.92 per square foot in…

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Charleston Bows Out of Race for 50,000 Jobs

Charleston Bows Out of Race for 50,000 Jobs

By | Charleston SC, commercial development, Economic Growth, SC

South Carolina is a long shot to win the contract for a new Amazon headquarters in North America.  The state has no cities with at least 1 million people, no major international airport or highly developed mass transportation system to meet the logistic demands of Amazon.  Many states and cities are vying to have the opportunity to build the approximately 8 million square foot Amazon campus. Charleston has decided to sit out the race for 50,000 new high paying jobs,…

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The Challenge to Harness Solar Energy in Building Design

The Challenge to Harness Solar Energy in Building Design

By | Charleston SC, Construction, Green Construction, SC

Charleston has over 200 sunny days on average each year, and has the potential to store and harness solar energy as the primary source of power in new building design.  There are several building projects underway to make individual buildings “net zero” in South Carolina. These buildings are designed to produce as much energy as they take in each year. The Net Zero Energy Building is one design approach being used in South Carolina to build highly efficient buildings with…

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Charleston City Council Passes New Zoning Laws to Refine Building Heights and Design

Charleston City Council Passes New Zoning Laws to Refine Building Heights and Design

By | Charleston SC, commercial development

The Charleston City Council approved a new set of zoning rules to limit the recent trend in building heights and design that will help preserve the Southern architecture that is unique to the Holy City. Recent trends have led to larger developments across the city landscape, and even with height restrictions have led to more boxy and tall buildings. “You can look at new modern builds, such as the new development at the corner of King and Spring streets, that…

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Charleston Joins National What Works Cities Initiative

Charleston Joins National What Works Cities Initiative

By | Charleston SC

Charleston Mayor John Tecklenburg announced recently that the city would participate in the Bloomberg Philanthropies What Works Cities (WWC) initiative, as part of a large scale effort to help cities use data and evidence to make city government more effective in its decision-making process.  The city of Charleston is one of more than 200 cities in 48 states participating in the initiative.  Charleston will be able to work with WWC technical experts to build data bases that help it address…

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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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State Legislature Considers Tax Breaks for Businesses Investing in I-95 Low Income Corridor

By | Charleston SC, commercial development, SC

Legislation has been introduced for a second year by Orangeburg lawmakers to try to give tax breaks to businesses that use the Port of Charleston, and develop facilities within rural areas close to interstates 26 and 95 interchange. The “Port Enhancement Zone Act,” was sponsored by Senator John Matthews (D-Bowman).  The legislation would allow distribution centers and warehouses built in low-income rural areas to claim a $1,000 tax credit for each job created as a result of this development. The…

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