Category

Economic Growth

Charleston’s Historic Optimism Shows in New Building Project

By Charleston, Charleston Office Market, Charleston SC, Commercial Space, Construction, Economic Growth

The past year has been anything but ordinary for the country and the residents of South Carolina. But, that doesn’t mean progress has come to a halt. In fact, many new projects have been announced in the past year, including some exciting commercial space expansions. One such project in the downtown Charleston area is well underway.  Office & Retail Project in Progress – 741 Meeting Street A project at 741 Meeting Street has broken ground and will bring plenty of new commercial…

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Fastest Growing Companies in SC Among State’s Top Businesses

By Economic Growth, SC

2020 might have been completely out of the ordinary in some respects, but that hasn’t stopped many companies from finding ways to continue serving the needs of their customers. Each year, a group sponsors this ongoing competition among the state’s fastest-growing businesses.  The primary sponsors include The Capital Corporation, Integrated Media Publishing, and KeenanSuggs|HUB Insurance. Anyone can nominate a company, but the criteria for winners include that they be headquartered in South Carolina, have been in operation for at least three…

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All Work and No Play? Not Anymore!

By Charleston, Charleston SC, Economic Growth, Tourism

The city of Hanahan will be getting a new boardwalk to connect the Hanahan Amphitheater and the Bettis Boat Landing. When the project is complete, it promises to bring new opportunities for businesses and residents of the area.  New Hanahan Boardwalk Construction is Underway After some initial delays, there is now plenty of progress underway on the new Hanahan boardwalk project. According to City Administrator Mike Cochran, the plans for the project were first proposed in 2018. But there was a…

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5 Tips for Keeping Your Staff Motivated

By Charleston SC, commercial real estate, Economic Growth

Having a motivated staff is vital to the success of your business. When your team responds positively and puts its best efforts forward, you’ll have an organization that is characterized by excellent performance and growth.  There’s a common misconception that the best way to motivate people is with cash. Compensation helps, but employees want to feel valued and appreciated above anything else. Here are some of the top ways you can keep your staff motivated and increase your business results. …

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South Carolina’s Industrial Market Remains Robust in 2019

South Carolina’s Industrial Market Remains Robust in 2019

By Charleston SC, commercial construction, Economic Growth, Industrial Property, Manufacturing

Collier’s “2019 Research & Forecast Industrial Report” shows demand is high throughout the state of South Carolina in the industrial market.  South Carolina’s industrial properties absorbed 4.81 million square feet, and the industrial market is expected to remain strong with a steady demand throughout 2019.  There are 13.37 million square feet of industrial properties under construction which will provide quality space to the market at increased rental rates, according to the report. Market Indicators Are Strong Accessibility to domestic and…

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Population Growth Soars by Nearly 63,000 in the Palmetto State

Population Growth Soars by Nearly 63,000 in the Palmetto State

By Economic Growth, SC

The Palmetto State continues to be one of the fastest growing regions in the country with nearly 63,000 people moving to South Carolina in the last year.  More than 80 percent of new residents moving here are from out-of-state locations, according to the Census Bureau. Some areas of South Carolina have seen slower population growth while other counties – including Horry and Berkeley counties – are seeing new residents pour in.  Counties adjacent to Charlotte and Spartanburg have also seen…

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New Tax Law Opportunity Zones Promote Investment in Economically Distressed Areas

New Tax Law Opportunity Zones Promote Investment in Economically Distressed Areas

By commercial development, commercial real estate, Economic Growth

The new tax law passed in 2018 provides commercial real estate investment opportunities with the establishment of new regulations that permit Opportunity Zones.  South Carolina Senator Tim Scott and U.S. Representative Ron Kind (D-WI) were promoters of the concept and helped push through the legislation which gained bipartisan support from both Houses of Congress.  The Opportunity Zones were created as part of the 2017 Tax Cuts and Jobs Act to promote investment in regions of the country that were struggling…

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Vacancy Rates Go Up with New Construction of Office Buildings

Vacancy Rates Go Up with New Construction of Office Buildings

By Charleston SC, commercial construction, Commercial Space, Construction, Economic Growth, Uncategorized

As demand for new construction continues to grow in the Charleston market, vacancy rates continue to rise according to Colliers International Research & Forecast Q4 2018 Report.  The expectation is that the vacancy rate will continue this trend into the first few quarters of 2019.  This vacancy rate is on the rise primarily due to 11 new office buildings delivered in 2018 that totaled 433,024 square feet of new construction. The Charleston office market has a total of 13,185,388 square…

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$325 Million Mount Pleasant Development Rises on Charleston Harbor

$325 Million Mount Pleasant Development Rises on Charleston Harbor

By Charleston SC, commercial construction, commercial development, Construction, Economic Growth, Mount Pleasant, Tourism, Uncategorized

The East Cooper side of Charleston Harbor will soon see the development of an 18-acre parcel that will furnish 1 million square feet of office space, retail, hospitality, and residential space.  The Ferry Wharf development, with views across the harbor of downtown Charleston, is being developed by Bennet Hospitality of Charleston and Atlanta-based Holder Properties.  The development is already under construction with a five-story 120,000 square foot office building called Portside.  The office building is already 45 percent preleased to…

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South Carolina in Top Ten Most Popular Places for New Residents

South Carolina in Top Ten Most Popular Places for New Residents

By Charleston SC, Economic Growth, SC

South Carolina continues to attract new residents and has remained in the top 10 most popular places in 2017 to move and settle.  The state ranks at number 7, a drop of two spots from the previous 12 months according to United Van Lines annual survey of inbound relocations. United Van Lines said that 57 percent of their customers in South Carolina are new residents putting it in the nation’s top destinations for those individuals looking for a new location…

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