Defining tomorrow, today.
Quarterly Report Q1 2018
A Sunny Forecast The 2018 - 2019 Economic Forecast indicates a sunny 18 to 24 months - showing continued strong growth across the region.
For the 27th year, the forecast was released at the annual Economic Outlook Conference, presented by South Carolina Federal Credit Union, to nearly 400 business leaders. Developed in partnership with the Charleston Metro Chamber’s Center for Business Research and the College of Charleston’s Office of Economic Analysis, the forecast’s true success lies in the hands of the Economic Outlook Board. The Board consists of industry leaders who provide collective insight that cannot be found in the statistical analysis of the data, such as future developments. And with the data often reported in a lag – the Economic Outlook Board is able to add the “real-time, real-knowledge” insight into the actual performance of the local economy. This insight has worked. After a review of last year’s forecast against the actual reported numbers, they were almost 80 percent accurate – a forecast any meteorologist would proud of.
Dr. James H. Johnson Jr.
William R. Kenan Jr. Distinguished Professor of Strategy and Entrepreneurship and Director of the Urban Investment Strategies Center at the Frank Hawkins Kenan Institute of Private Enterprise University of North Carolina at Chapel Hill
Attendees of the conference also had the unique opportunity to hear from keynote speaker, Dr. James H. Johnson Jr. of the University of North Carolina at Chapel Hill. Dr. Johnson shared “disruptive demographics” that will change the United States forever, stating that the competition for talent will be fierce, and global.
Here are the highlights: • The national, state and local economies are all expected to grow over the next 18 to 24 months, with national GDP growth projected at some of the strongest rates in years.
• Locally, the region continues to grow and attract major industry, particularly in the Advanced Manufacturing, Logistics and Transportation, Life Sciences and IT sectors.
2018 Economic Forecast at a Glance +2.5%
+3.0%
-10.5%
Labor Force
Employment
Unemployment
+6.0%
+2.0%
+4.7%
PORT
Real Estate Sales
Retail Trade
+2.0%
+7.0%
+2.5%
Single Family Permits
Airport
HOTELS
• There is nothing on the horizon to slow the job and population growth fueling the local region’s economy for the next two years.
• There is a growing awareness of the link between traffic congestion, jobs and housing. The region’s challenge is to now implement solutions to solve them.
Just as you look at the weather forecast before you get dressed in the morning, take a look at the Economic Forecast as your organization strategically plans the next 18 - 24 months. View the full forecast at charlestonchamber.org/economicforecast.
Membership
GOAL:
To attract, engage and retain members through exceptional value, benefits, assets and services
BIYB FEATURES
Chamber members attended Business in your Backyard for an update on the strategically-positioned, multi-use development located in the North Charleston growth corridor. An impressive panel discussed the future of the Parkway including growth opportunities and infrastructure advancements.
Featured speakers: Moderator Steve Dykes Executive Director of Charleston County Economic Development
Panel Michael Balke President & CEO Mercedes Benz Vans
Bret Johnson Senior Vice President & CFO Roper St. Francis Health
Jasmine Kang Plant Manager Cummins Turbo Technologies
“ The Charleston Metro Chamber has been tremendous for our business. I joined to network with successful business leaders and grow our referral business at Matt O’Neill Real Estate. Once I got involved, I realized how much more there was to this Chamber. Through my involvement, I am helping to make a difference in the Charleston community. I am proud to support our Chamber, and I would recommend any other Charleston business leader to do the same.”
www.charlestonchamber.org
CHAMBER WELCOMES NEW PLATINUM MEMBER
the meaning behind ingevity longevity
genuine
Lasting customer relationships. A history of success.
The right people. The right attitude.
ingenuity Pushing the bounds of what’s possible.
innovation Extraordinary people. Extraordinary results.
CHAMBER CONNECT AT HOME TEAM BBQ
Chamber members cultivating relationships and making new business connections.
Meredith Mixson
Commercial Relationship Manager Wells Fargo
CMCC Quarterly Report 2018: Q1
“ Chamber Connect provided an opportunity for casual conversation and effective networking. In just under an hour, I connected with a commercial real estate broker and local business owner that I will be following up with this week. Home Team BBQ was a fresh venue that was easily accessible to all.”
Advocacy / Advancement
GOAL:
To initiate, advocate and empower our region to advance a prosperous business environment
CHAMBER WORKS TOWARDS HOUSING ATTAINABILITY FOR ALL
Housing & Transportation Costs ow income residents L spend 71% of income Typical residents spend 57% of income
Total Residential Permits
100%
0%
Income vs. Housing Costs (between 2010 – 2016)
Median household income rose 12%
New Households Needed per year 8,000
7,500 7,000
6,000
Median home sales rose 27%
5,000
Average rent rose 49%
4,000
3,000
New housing needs We need 7,500 new housing units a year for the next 15 years to keep up with our healthy 2.2% annual growth. We have not permitted that many new homes in the Charleston Metro in any year for the past decade.
2,000
1,000
0
2013
2014
2015
2016
2017
Champion Advocates are grassroots leaders working to change public discourse by spreading a positive message about our region’s growth and development.
www.charlestonchamber.org
CONNECTING WITH ELECTS AT LEGISLATIVE RECEPTION
260+ Attendees
Age: 21 – 29 30 – 39 40 – 49 50+ No answer
24% 55% 5% 12% 4%
70
Elected Leaders
Time in Charleston: Less than 5 years 5 - 10 years 11- 20 years 20+ years Charleston Native No answer
33% 17% 21% 10% 17% 2%
On the Scene:
“ The Champion Advocates is a fresh approach to shifting the conversation beyond anti-growth and refocusing our community’s energy on planning for the future to ensure the Charleston Metro remains a great place in which to live and work. Our grassroots efforts aim to share facts and data, and engage a broad base of support for sustainable growth.”
Congressman Mark Sanford
Governor Henry McMaster
Interested in being a Champion Advocate? Contact Erica Wright at ewright@charlestonchamber.org
Secretary of State Mark Hammond
CMCC Quarterly Report 2018: Q1
Erin Dhand
Manager, Corporate Communications and Community Affairs South Carolina Ports Authority
Talent
GOAL:
To advance the region’s talent pipeline for today’s and tomorrow’s employers
INDUSTRIAL RELATIONS COMMITTEE REINVIGORATED HR professionals discuss workforce issues and challenges Chair:
Open to HR managers and directors, primarily representing manufacturers. Every other month, HR Professionals gather to share information, express concerns and offer advice and resources. Meeting topics include: • Workforce trends
Abby Bauman ATI
• Legislative and legal challenges • Labor climate • Third party wage and benefits data • Training • Recruiting • Internship programs • Risk management
BUSINESS EDUCATION CABINET FORMED The cabinet of business leaders was formed at the request of our regional superintendents in response to the Common Skills in High Demand report.
Purpose:
Discuss and implement specific strategies to ensure the schools are preparing high school students for careers. Cabinet was launched with a kick-off meeting on March 20.
“ Reports like the Common Skills report provide us with the tools we need to change how we approach prepping students for their future.” Dr. Eddie Ingram, Superintendent Berkeley County School District
View the Common Skills in High Demand report at charlestonchamber.org/highdemandskills.
One of the most powerful ways to learn is to step outside the classroom and into the real world. That’s why the bridge walk started four years ago.
Engineering Career Academy students walk the Ravenel Bridge with civil and structural engineers to learn the answers to questions like: • How did they pour the concrete for all the pilings? • How did they decide what kind of drainage to use? • What did they do to protect the bridge from a ship hitting it? • How did they take down the old bridges?
3 6 24 215
Bridge Walks
www.charlestonchamber.org
CAREER ACADEMY STUDENTS WALK THE BRIDGE
Regional High Schools Civil and Structural Engineer Volunteers Career Academy Students
Fun Fact: The bridge consists of 300,050 pounds of concrete
CMCC Quarterly Report 2018: Q1
GOAL:
Leadership
To drive professional development for all career stages
32 participants joined our skills-based leadership program.
“ I am thrilled to be a part of Leadership Discovery. We took part in several engaging activities that challenged us to interact and grow professionally. I walked away so energized and find myself counting down the days until the next session.�
Karen Salem
Director of MBA Admissions and Recruitment College of Charleston
2018 Mentors:
Elaine Banks Senior Manager, Information Technology Group The Boeing Company
Jasmine Kang Plant Manager Cummins Turbo Technologies
Jamie Tozzi General Manager Microsoft
Mark Lattanzio President & CEO Charleston Region SunTrust Bank
Michael Wilson President, Chief Executive Officer and Director Ingevity
C A I N
Communication Attitude Influence Network
www.charlestonchamber.org
Anton Gunn inspired at CYP Kick Off, encouraging young professionals to “Raise C.A.I.N. in 2018”
“ Life is not about being successful, but using your talents to make a difference, so that your work outlives your life.”
Anton Gunn
Medical University of South Carolina
LEADERSHIP CHARLESTON STATE GOVERNMENT DAY The 44th Class of Leadership Charleston traveled to Columbia with Leadership Greenville to take a deep dive into our State Government and the important role of our Chamber lobbyists.
Highlights: • Q&A with Superintendent of Education, Molly Spearman • Briefing with South Carolina Supreme Court Justice, John Few • Meet-n-Greet with Governor Henry McMaster
Biggest Takeaway: • The important role of advocacy organizations and active individuals to provide information to our citizen lawmakers.
CMCC Quarterly Report 2018: Q1
Organization
GOAL:
To operate with excellence as an international leader in the Chamber profession
MEMBERSHIP TEAM EXPANDS
Directors of Membership Engagement
Digit Matheny
Kelly Killeen-Haupt
“ We are thrilled to have Digit on board. Through his volunteer efforts over the years, we’ve seen his passion for the work of the Chamber and know he will be a great asset to our Membership team. We are equally excited to welcome Kelly to the membership team. Her dedication for our community and her demonstrated commitment to advancing our region is second to none.” Tim Rogers
Vice President of Membership Charleston Metro Chamber of Commerce
CHAMBER TEAM EXPANDING ROLES
Katie Istnick
Director of Leadership Programs
Suzi Raiford
Associate Vice President of Career Preparedness Programs
Cassie Flanick
Associate Director of Membership Relations
www.charlestonchamber.org
MEET YOUR NEW BOARD CHAIRMAN
“ Every community needs a diverse stock of housing options and job centers to be sustainable. More housing options at a range of price points would shorten commutes and reduce overall traffic. But getting the mix requires more density and strategic change.” Mark Lattanzio President & CEO Charleston Region SunTrust Banks
Mark accepted the gavel at the first Annual Business Leaders’ Summit on January 25 where he also made his first address as Chair.
Highlights include:
Mark has served on the Chamber Board for eight years and brings more than 30 years of banking experience in the Charleston market and a deep commitment to advancing our region.
• Connecting housing, land use and traffic
• Need for smart growth and attainable housing • Addressing the “not in my backyard” fear • Call for attendees to advocate, promote and engage with the Chamber
“ I am eager to accept the challenge of continuing our track record of wins in pursuit of sustainable growth.”
CMCC Quarterly Report 2018: Q1
Business Leaders Address Regional Challenges WHO: 120 of the region’s top leaders TONE: Energetic and determined GOAL: “Road map” the work that we need to collectively own to
successfully drive our region forward in 2018 and beyond.
Following the passing of the gavel and remarks from 2017 Chairman Patrick Bryant and 2018 Chairman Mark Lattanzio, Bryan Derreberry presented the State of the Chamber.
HIGHLIGHTS: • The launch of Local Area Chambers • Passage of the Roads Bill • Receiving 5-Star Accreditation for the third consecutive time Then Summit attendees got to work and were divided into four different groups for breakout sessions, or mini “think tanks”. Attendees had the opportunity to brainstorm the following areas, with each group’s discussion sparking substantive calls for action.
SESSIONS: • Local Area Chambers: Review and Look Ahead • Common Skills in High Demand • Elevating Housing Attainability • Chamber 2030 The Chamber is evaluating all of the discussions and determining next steps and goals, putting the impactful conversations into action. We invite every Chamber member to join us in making our regional advancement plan a reality. Read the latest Summit report at charlestonchamber.org/abls
NEW LEADERSHIP CIRCLE MEMBERS
(January 1 - March 31)
Silver
Bronze
4500 Leeds Avenue, Suite 100 N. Charleston, SC 29405 843.577.2510 mail@charlestonchamber.org
www.charlestonchamber.org