Category

Economic Growth

Feb 16
U.S. Economy Strong as Construction Spending Remains High

U.S. Economy Strong as Construction Spending Remains High

By commercial construction, Economic Growth

  The U.S. Commerce Department reports that during the last quarter of 2017, U.S. builders spent 0.8 percent more on construction projects, for a fourth consecutive monthly gain. This is considered an all-time high of $1.257 trillion in November, 2017, with an increase of 2.4 percent since the previous year. Private construction spending was also up by 1 percent in November 2017 hitting an all-time high. The increase in construction spending and a separate robust economic report from the manufacturing…

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Jan 31
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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Jan 15
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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Nov 30
Volvo Commits to Doubling Investment in Berkeley County

Volvo Commits to Doubling Investment in Berkeley County

By Economic Growth, Manufacturing, SC

Volvo Cars recently announced plans to double its investment in Berkeley County to more than $1 billion even before a single vehicle has been produced at its future manufacturing plant in Ridgeville. The new $500 million manufacturing plant is scheduled to open next summer with 2000 new employees.  The new investment will add an additional 2,500 new jobs to the area. “When we made the decision in early 2015 to build here, of course you make that kind of decision…

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Nov 15
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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Jul 29
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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Jul 14
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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Jun 15
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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Jan 31

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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Nov 15
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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