Category

Economic Growth

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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business recruitment

SC Business Recruitment Leads to New Projects and Job Creation

By Construction, Economic Growth

South Carolina’s economy remains strong with solid business recruitment in 2015, according to a report released by the SC Commerce Department (S.C. Department of Commerce http://sccommerce.com/). The state yielded $4.21 billion in capital investments, and won 150 economic development projects, and 17,280 jobs by new and expanding businesses. South Carolina is a manufacturing stronghold, with 56 percent of jobs or 9,680 jobs coming from the manufacturing sector. The sector accounted for 86 percent of total capital investments, yielding 3.6 billion…

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economic growth

Chamber Focuses on Infrastructure — SC Economic Growth

By Economic Growth

According to the Charleston Regional Business Journal, South Carolina’s Chamber of Commerce is once again focusing on funding infrastructure in the Palmetto State. Infrastructure at the top of the funding list includes crucial roads and bridges in the Charleston area. This focus is intended to help keep up with SC economic growth. The Charleston Chamber reports that the “South Carolina House of Representatives passed the ‘South Carolina Infrastructure Finance Reform and Tax Relief Act’ by a vote of 87-20.” The…

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sc economy

Construction Industry Helps SC Economy

By Construction, Economic Growth

Charleston’s Post and Courier reports that economists from The University of South Carolina are claiming that the Palmetto State is officially out of the economic recession. USC economists Doug Woodward and Joseph Von Nessen told The Post and Courier that the SC economy has largely benefitted from its emphasis on manufacturing. They point out that manufacturing has been a strong suit for South Carolina over many decades but that another industry stepped up in 2015 to bring the state out of the recession. Construction…

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sc economic growth

SC Economic Growth Continues to Climb

By Economic Growth

According to the Charleston Regional Business Journal, South Carolina’s economy is continuing to grow. Citing a report from the S.C. Board of Economic Advisors, the Journal states that South Carolina’s revenue forecast has increased by $343.1 million to $7.9 billion for this fiscal year. Increased Employment & Consumer Spending Leads to SC Economic Growth S.C. Board of Economic Advisors Chairman Chad Waldorf credits strong employment growth and increased consumer spending as primary factors in SC economic growth, according to the Journal….

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Charleston, SC Economic Growth

Port Increases Generate Charleston, SC Economic Growth

By Commercial Space, Economic Growth, Space Planning

After several years of repeated volume growth, Charleston, SC’s port increased its container volume by 14% during the 2015 fiscal year. This is a near-record level for the SC port. And, Charleston’s Post & Courier reports, more contracts with container ships have been made for the year ahead. Middle Eastern companies, such as the United Arab Shipping Company, as well as Asian companies have struck new partnerships with the Charleston port, allowing even more revenue to stream into the Lowcountry….

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