Real Estate/Construction
Education
Demographics
employment & economic development
Financial Services
MARKET FACTS Dear Reader, Welcome to the inaugural edition of the Columbia Regional Business Report’s Market Facts. When we came up with the idea of publishing Market Facts, we envisioned it as a tool for our readers to use when composing new business plans or updating existing ones. It was born at our Charleston publication out of our need to gather facts and data to support our own expansion. When we found out what a pain it was to find everything we needed, we had an epiphany: “Gee, somebody ought to publish this stuff!” Our vision is to grow this publication in the coming years and make it the sister publication to our annual Book of Lists. The combination of the listings of the largest companies in most of the major business categories in the Book of Lists with the statistics and other data presented in Market Facts in chart, graph and table format gives you a pretty good grasp on the region’s business community. I extend my best wishes to you in the year to come and hope Market Facts aids you in improving the performance of your business planning. I also want to recognize all of our advertisers for enabling us to provide this and other valuable resources for the region’s business decision-makers. And finally, I ask you to join me in giving our research department a big “high-five” for doing all this painstaking work so you and I don’t have to! Sincerely, Bob Bouyea Publisher, Columbia Regional Business Report
Contents Real Estate/Construction................................. 10 Education........................................................ 12 Demographics................................................. 14 Employment & Economic Development........... 16 Financial Services........................................... 19
10 MARKET FACTS 2010
Real Estate/ Construction
Education
Demographics
employment & economic development
Financial Services
Real Estate/Construction Construction Cost Comparison. Retail Market Overview – Q1 2010 Wilmington, N.C. .....................................77.2 Columbia.......................................... 79.6 Raleigh, N.C. ...........................................80.0 Charlotte..................................................80.0 Austin, Texas...........................................80.8 Charleston...............................................83.2 Savannah................................................83.3 Jacksonville, Fla. ....................................83.8 Nashville, Tenn. ......................................88.0 Richmond, Va. ........................................88.4 Birmingham, Ala. ....................................88.5 Norfolk, Va. .............................................88.7 New Orleans............................................88.9 Phoenix...................................................89.0 Atlanta.....................................................90.2 Miami......................................................90.3 Pittsburgh................................................97.6 Washington, D.C......................................99.7 Index Average .....................................100.0 Providence, R.I. ....................................103.2 Hartford, Conn. .....................................107.9 Bridgeport, Conn. .................................108.0 New Haven, Conn. ................................108.2 Los Angeles...........................................108.3 Newark, N.J. .........................................109.5 Philadelphia...........................................113.2 Chicago.................................................114.9 Boston...................................................115.4 New York...............................................130.7
Cayce-West Columbia Downtown Dutch Fork/Irmo Forest Acres Lexington North Columbia Northeast Columbia St. Andrews Southeast Columbia Columbia Total
Inventory SF 1,801,514 590,336 3,548,574 2,135,632 1,860,833 240,734 5,150,088 2,236,112 1,509,830 19,073,653
Vacant SF 292,543 66,381 370,334 493,728 111,839 55,548 1,404,127 297,995 134,273 3,226,768
Vacancy Rate 16.20% 11.20% 10.40% 23.10% 6.00% 23.10% 27.30% 13.30% 8.90% 16.90%
Occupied SF Total Available 1,508,971 292,543 523,955 95,730 3,088,552 367,684 1,641,904 493,728 1,748,994 111,839 185,186 29,748 3,722,875 714,814 1,938,117 298,265 1,375,557 145,973 15,846,885 2,550,324
Source: Grubb & Ellis Wilson Kibler
Housing Units Authorized by Building Permits Atlanta-Sandy Springs-Marietta, Ga. Charleston-North Charleston Charlotte-Gastonia-Concord, N.C. Columbia Jacksonville, Fla. Knoxville, Tenn. Orlando-Kissimmee, Fla. Raleigh-Cary, N.C.
’09 6,553 2,949 7,091 3,498 4,666 1,927 4,487 4,894
’08 19,294 5,172 12,236 4,348 6,963 2,856 10,233 11,397
Source: Center for Business Research, Charleston Metro Chamber of Commerce
Weighted Average Rate $10.51 $11.41 $15.82 $16.88 $13.98 $8.54 $12.31 $9.52 $13.30 $13.36
’07 44,770 6,780 21,190 6,865 10,928 4,849 18,638 16,614
’06 68,266 9,073 25,161 8,117 16,967 6,453 30,984 17,712
’05 72,861 10818 20,027 7,430 25,088 5,757 36,137 14,614
’04 74,007 8,306 21,551 7,249 19,326 5,965 33,992 14,404
Source: Grubb & Ellis Wilson Kibler
Thompson Construction Group understands what you need from us: safe work, performance, value, quality and dependability. We have a solid reputation as a leader in the industrial and commercial construction markets with more than 20 years of delivering quality services on time with competitive pricing. That's why we say every job matters. We concentrate on the details of the job at hand, while keeping an eye on the big picture and our fit with you in being a contributing part of your business for the long term. Together, we get the job done.
Every Job
IS IMPORTANT TO US
thompsonind.com Columbia Sumter Charleston
Financial Services
employment & economic development
Demographics
Real Estate/ Construction
Education
Industrial Market Overview – Q1 2010 Cayce-West Columbia Total General Industrial R&D/Flex Warehouse/Distribution Downtown Total General Industrial R&D/Flex Warehouse/Distribution Lexington Total General Industrial R&D/Flex Warehouse/Distribution North Total General Industrial R&D/Flex Warehouse/Distribution Northeast Total General Industrial R&D/Flex Warehouse/Distribution Northwest Total General Industrial R&D/Flex Warehouse/Distribution Outside Metro Area Total General Industrial R&D/Flex Warehouse/Distribution Southeast Total General Industrial R&D/Flex Warehouse/Distribution Southwest Total General Industrial R&D/Flex Warehouse/Distribution Columbia Total General Industrial R&D/Flex Warehouse/Distribution
MARKET FACTS 2010 11
Industrial Year-End Vacancy Rates
Total SF
Vacant SF
Vacancy Rate
Average Rate
1,920,245 1,739,328 100,500 80,417
184,017 67,350 56,250 60,417
9.60% 3.90% 56.00% 75.10%
$7.41 $6.76 $11.85 $4.22
4,355,940 4,191,281 10,290 154,369
404,482 322,072 10,290 72,120
9.30% 7.70% 100.00% 46.70%
$3.90 $3.79 $5.42 $5.00
1,934,010 1,384,510 N/A 549,500
84,500 0 N/A 84,500
4.40% 0.00% N/A 15.40%
$4.90 N/A N/A $4.90
6,271,579 3,082,760 268,801 2,920,018
1,275,266 782,700 74,382 418,184
20.30% 25.40% 27.70% 14.30%
$4.18 $3.10 $9.58 $3.68
15%
10%
5%
0% ’02
’04
’06
’08
Q1 ’10
’08
Q1 ’10
’08
Q1 ’10
SF Under Construction 1,000 800 600 400 200 0 ’02
’04
’06
Asking Rental Rates 7,311,107 6,198,761 54,208 1,058,138
692,914 454,514 14,400 224,000
9.50% 7.30% 26.60% 21.20%
$4.46 $4.92 $9.50 $3.36
3,645,187 2,187,037 110,092 1,348,058
201,873 18,650 92,010 312,533
8.60% 9.20% 16.90% 6.80%
$6.60 $4.52 $9.01 $6.73
2,596,329 1,484,805 N/A 1,111,524
511,952 147,181 N/A 364,771
19.70% 9.90% N/A 32.80%
$3.34 N/A N/A $3.34
$10 $5 $0 ’02
’04
General Industrial
’06 R&D/Flex
Warehouse/Distribution
Office Year-End Vacancy Rates 30% 20% 10%
6,978,956 4,243,705 147,504 2,587,747
1,728,973 966,054 51,640 711,279
24.80% 22.80% 35.00% 27.50%
$4.15 $4.40 $5.02 $3.77
4,779,564 1,750,538 64,650 2,964,376
608,062 142,750 13,150 452,162
12.70% 8.20% 20.30% 15.30%
$5.06 $3.97 N/A $5.36
39,792,917 26,262,725 756,045 12,774,147
5,802,699 3,084,494 238,762 2,479,443
14.60% 11.70% 31.60% 19.40%
$4.43 $4.39 $8.85 $4.11
N/A – Not available Source: Grubb & Ellis Wilson Kibler
0% ’02
’04
’06
Central Business District
’08 Suburban
Q1 ’10 Combined
Office Asking Rental Rates $20 $18 $16 $14 $12 $10 ’02 Class “A”
’04
’06
’08
Q1 ’10
Class “B”
Source: Grubb & Ellis Wilson Kibler
Real Estate/ Construction
12 MARKET FACTS 2010
Education
employment & economic development
Demographics
Financial Services
Tuition Costs for Columbia Regional Colleges and Universities (Full-Time Undergraduate Students) Institution Public University of South Carolina – Sumter University of South Carolina – Columbia Midlands Technical College (Richland, Lexington, Fairfield county residents) Private Allen University Benedict College Columbia College Columbia International University Limestone College Newberry College South University Southern Wesleyan University
Education
Percent of Population 25 and Older with a High School Diploma or Higher United States South Carolina Atlanta-Sandy Springs-Marietta, Ga., Metro Area Charleston-North Charleston Metro Area Charlotte-Gastonia-Concord, N.C.-S.C., Metro Area Columbia Metro Area Greenville-Mauldin-Easley Metro Area Myrtle Beach-Conway-North Myrtle Beach Metro Area Orlando-Kissimmee, Fla., Metro Area Savannah Metro Area
% Diploma or Higher 84.0 81.4 86.0 86.7 85.4 85.6 80.9 85.8 86.4 85.6
% Bachelor’s Degree or Higher 27 22.8 33.5 28.6 31.2 29.4 25.6 20.6 27.4 26.2
Source: U.S. Census Bureau, 2005-2007 American Community Survey
In-State
Out-ofState
Room & Board
5,136
12,912
N/A
8,838
22,908
7,218
3,408
10,224
N/A
9,884 14,570 23,030
9,884 14,570 23,030
5,240 6,702 6,750
16,270
16,270
6,110
17,300 21,500 14,210
17,300 21,500 14,210
6,400 8,150 8,274
18,000
18,000
7,450
Source: S.C. Commission on Higher Education
College Admissions Test (SAT) Richland 1
Richland 2
Lexington 1
Lexington 2
Lexington 3
Lexington 4
Lexington/Richland 5
452 463
494 497
512 507
494 481
458 433
461 453
510 503
460 472
503 508
535 527
501 503
492 472
463 476
531 528
442 448
477 477
496 489
475 459
441 431
450 446
496 488
1,353 1,383
1,474 1,482
1,543 1,523
1,470 1,444
1,391 1,336
1,374 1,375
1,537 1,519
Critical Reading 2008 2009 Mathematics 2008 2009 Writing 2008 2009 Total 2008 2009
College Admissions Test (ACT) English 2008 2009 Mathematics 2008 2009 Reading 2008 2009 Science 2008 2009 Total 2008 2009
Source: S.C. Education Oversight Committee
Richland 1
Richland 2
Lexington 1
Lexington 2
Lexington 3
Lexington 4
Lexington/Richland 5
16.4 17.5
19 19.6
21.5 21.4
18.3 17.5
17.7 17.6
17.5 17.3
21.4 20.9
18.2 18.6
20.4 20.6
22.5 22.1
19.4 18.6
20.3 20.2
18.7 19.1
22.6 22.5
17.5 18.2
20 20.4
21.9 21.8
19.6 18.4
19.2 18.4
18.3 18.4
22.3 21.7
17.4 18
19.6 20.4
21.8 21.6
19.5 18.8
18.9 19.6
19.5 19.5
21.5 21.6
17.5 18.2
19.9 20.4
22 21.9
19.3 18.4
19.1 19.1
18.6 18.7
22 21.8
Financial Services
employment & economic development
Demographics
Real Estate/ Construction
Education
MARKET FACTS 2010 13
PACT/PASS Scores for Midlands Counties English/Language Arts # Tested % Not Met % Met % Exemplary Mathematics # Tested % Not Met % Met % Exemplary Science # Tested % Not Met % Met % Exemplary Social Studies # Tested % Not Met % Met % Exemplary Writing # Tested % Not Met % Met % Exemplary
Richland 1
Richland 2
Lexington 1
Lexington 2
Lexington 3
Lexington 4
Lexington/Richland 5
10,560 31.5 38.7 29.8
11,278 22.3 37.9 39.8
10,138 18.2 36.1 45.7
3,901 28 38.1 33.9
905 37.1 37.5 25.4
1,494 36.9 36.9 26.2
7,689 15.5 33.6 50.9
10,561 39.5 38.6 21.9
11,278 27.1 39.9 32.9
10,138 21.6 42.7 35.8
3,901 30 41.4 28.6
905 39 41.1 19.8
1,494 38.9 44.9 16.2
7,689 16.1 36.9 47
7,065 41.9 43.5 14.6
7,519 26.6 49.9 23.5
6,767 20 52.2 27.8
2,612 32 50.2 17.8
612 41.4 43.5 15.1
985 35.2 50.7 14.1
5,118 18.7 51.7 29.6
7,024 34.8 42.4 22.8
7,493 20.9 43.1 36
6,758 17.6 41.8 40.5
2,588 26.8 42.8 30.4
613 29.9 47.1 23
989 28.3 47.6 24.1
5,125 14 39.1 46.9
10,611 36.1 37.5 26.4
11,240 24.5 38.2 37.3
10,101 22.7 38.6 38.8
3,935 31.7 38.2 30.1
909 39.2 35.2 25.6
1,504 48.8 36.8 14.4
7,669 19.6 37.8 42.7
Source: S.C. Education Oversight Committee
At a Glance: Columbia Region Public Schools Richland 1 Percy A. Mack, superintendent 1616 Richland St., Columbia, SC 29201 Phone: 803-231-7000 www.richlandone.org # of Students......................................24,333 # of Schools..............................................50 # of Magnet Schools...................................0 # of Charter Schools....................................4 $ Spent Per Pupil..............................$12,869 Average Administrator Salary...........$87,511 Average Teacher Salary....................$50,012 2009 Report Card...................Below Average Richland 2 Stephen Hefner, superintendent 6831 Brookfield Road, Columbia, SC 29206 Phone: 803-787-1910 Fax: 803-738-7393 www.richland2.org # of Students......................................24,510 # of Schools..............................................26 # of Magnet Schools...................................8 # of Charter Schools....................................0 $ Spent Per Pupil................................$9,490 Average Administrator Salary...........$89,337 Average Teacher Salary....................$49,373 2009 Report Card............................. Average Lexington 1 Karen C. Woodward, superintendent 100 Tarrar Springs Road, Lexington, SC 29072 Phone: 803-821-1000
Average Administrator Salary...........$78,468 Average Teacher Salary....................$49,118 2009 Report Card...................Below Average
Fax: 803-821-1010 www.lexington1.net # of Students......................................21,730 # of Schools..............................................26 # of Magnet Schools...................................0 # of Charter Schools....................................0 $ Spent Per Pupil................................$8,817 Average Administrator Salary...........$87,691 Average Teacher Salary....................$48,218 2009 Report Card............................. Average Lexington 2 Venus J. Holland, superintendent 715 Ninth St., West Columbia, SC 29169 Phone: 803-796-4708 Fax: 803-739-4063 www.lex2.k12.sc.us # of Students........................................8,898 # of Schools..............................................16
# of Magnet Schools...................................0 # of Charter Schools....................................0 $ Spent Per Pupil................................$9,044 Average Administrator Salary...........$81,014 Average Teacher Salary....................$48,079 2009 Report Card...................Below Average Lexington 3 J. Chester Floyd, interim superintendent 338 W. Columbia Ave. Batesburg-Leesville, SC 29006 Phone: 803-532-4423 Fax: 803-532-8000 www.lex3.groupfusion.net # of Students........................................2,076 # of Schools................................................4 # of Magnet Schools...................................0 # of Charter Schools....................................0 $ Spent Per Pupil..............................$11,489
Lexington 4 Linda G. Lavender, superintendent 607 E. Fifth St., Swansea, SC 29160 Phone: 803-568-1000 Fax: 803-568-1020 www.lex4.k12.sc.us # of Students........................................3,476 # of Schools................................................6 # of Magnet Schools...................................0 # of Charter Schools....................................0 $ Spent Per Pupil................................$9,279 Average Administrator Salary...........$86,172 Average Teacher Salary....................$43,101 2009 Report Card...............................At-Risk Lexington/Richland 5 Herbert M. Berg, superintendent 1020 Dutch Fork Road, Irmo, SC 29063 Phone: 803-476-8000 www.lex5.k12.sc.us # of Students......................................16,604 # of Schools..............................................19 # of Magnet Schools...................................0 # of Charter Schools....................................0 $ Spent Per Pupil..............................$10,061 Average Administrator Salary...........$94,048 Average Teacher Salary....................$51,345 2009 Report Card............................. Average Source: S.C. Education Oversight Committee
14 MARKET FACTS 2010
Real Estate/ Construction
Education
Demographics
employment & economic development
Financial Services
Demographics Newberry County
Fairfield County
Kershaw County
Total Area (square miles)..................................630.77
Total Area (square miles)..................................686.59
Total Area (square miles).......................................726
Population (2009).............................................38,763
Population (2009).............................................23,343
Population (2009).............................................60,042
Population Growth Rate (2000-2009).....................7.7
Population Growth Rate (2000-2009)................... -0.5
Population Growth Rate (2000-2009)......................14
Total Households (2000)...................................14,026
Total Households (2000).....................................8,774
Total Households (2000)...................................20,188
Civilian Labor Force (March 2010)....................18,208
Civilian Labor Force (March 2010)....................11,106
Civilian Labor Force (March 2010)....................30,066
Unemployment Rate (March 2010)..........................12
Unemployment Rate (March 2010)..........................13
Unemployment Rate (March 2010).......................10.7
Median Household Income (2008)..................$43,570
Median Household Income (2008)..................$35,880
Median Household Income (2008)..................$44,446
Gross Retail Sales (2002)......................$256,446,000
Gross Retail Sales (2002)......................$116,561,000
Gross Retail Sales (2002)......................$388,147,000
County Seat..................................................Newberry
County Seat.................................................Winnsboro
County Seat.................................................... Camden
Form of Government...................Council/Administrator
Form of Government...................Council/Administrator
Form of Government...................Council/Administrator
Saluda County
Sumter County
Total Area (square miles)..................................452.48
Total Area (square miles)..................................665.41
Population (2009).............................................19,094
Population (2009)...........................................104,495
Population Growth Rate (2000-2009)................... -0.5
Population Growth Rate (2000-2009)................. -0.10
Total Households (2000).....................................7,127
Total Households (2000)...................................37,728
Civilian Labor Force (March 2010)......................9,039
Civilian Labor Force (March 2010)....................43,740
Unemployment Rate (March 2010)..........................10
Unemployment Rate (March 2010)..........................13
Median Household Income (2008)..................$40,295
Median Household Income (2008)..................$38,167
Gross Retail Sales (2002)........................$65,848,000
Gross Retail Sales (2002)......................$853,758,000
County Seat...................................................... Saluda
County Seat......................................................Sumter
Form of Government.........................................Council
Form of Government...................Council/Administrator
Lexington County
Richland County
Calhoun County
Total Area (square miles)..................................699.25
Total Area (square miles).......................................756
Total Area (square miles).......................................380
Population (2009)...........................................255,607
Population (2009)...........................................372,023
Population (2009).............................................14,621
Population Growth Rate (2000-2009)...................18.3
Population Growth Rate (2000-2009)......................16
Population Growth Rate (2000-2009)................... -3.7
Total Households (2000)...................................83,240
Total Households (2000).................................120,101
Total Households (2000).....................................5,917
Civilian Labor Force (March 2010)..................133,260
Civilian Labor Force (March 2010)..................181,770
Civilian Labor Force (March 2010)......................6,821
Unemployment Rate (March 2010)............................9
Unemployment Rate (March 2010).........................9.9
Unemployment Rate (March 2010)..........................12
Median Household Income (2008)..................$52,515
Median Household Income (2008)..................$49,653
Median Household Income (2008)..................$38,803
Gross Retail Sales (2002)...................$2,291,936,000
Gross Retail Sales (2002)...................$3,823,458,000
Gross Retail Sales (2002)........................$38,772,000
County Seat..................................................Lexington
County Seat.................................................. Columbia
County Seat.............................................St. Matthews
Form of Government...................Council/Administrator
Form of Government...................Council/Administrator
Form of Government.........................................Council Source: U.S. Census Bureau
Financial Services
employment & economic development
Demographics
Income Rank Report by S.C. County Rank
Name
1 2 3 4
Beaufort York Lexington Dorchester Subtotal of High Greenville Berkeley Richland Kershaw Charleston Aiken Spartanburg Anderson Subtotal of Above-Average Horry Pickens Oconee Saluda Georgetown Edgefield Florence Lancaster Greenwood Laurens Cherokee Sumter Newberry Calhoun Chester Abbeville McCormick Union Jasper Darlington Subtotal of Average Fairfield Chesterfield Colleton Orangeburg Hampton Barnwell Lee Clarendon Dillon Marion Marlboro Subtotal of Below-Average Bamberg Williamsburg Allendale Subtotal of Low Grand Total
5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46
Real Estate/ Construction
Education
Source: Decision Data Resources
Median
Household Income Average
Per Capita
Median Age
$57,624.00 $54,577.00 $53,897.00 $52,884.00 $54,698.00 $50,831.00 $48,937.00 $48,790.00 $46,702.00 $46,639.00 $46,177.00 $45,725.00 $44,360.00 $47,699.00 $44,191.00 $44,087.00 $43,935.00 $43,931.00 $43,205.00 $42,511.00 $42,259.00 $42,043.00 $41,747.00 $41,223.00 $41,094.00 $40,655.00 $40,091.00 $39,836.00 $39,577.00 $39,518.00 $38,795.00 $38,293.00 $37,370.00 $37,288.00 $42,140.00 $36,388.00 $35,430.00 $35,442.00 $34,856.00 $34,120.00 $34,046.00 $33,098.00 $32,940.00 $31,578.00 $31,362.00 $31,348.00 $33,873.00 $28,527.00 $28,363.00 $24,621.00 $27,762.00 $45,374.00
$73,835.00 $64,347.00 $62,405.00 $56,445.00 $64,473.00 $60,865.00 $49,701.00 $55,701.00 $51,862.00 $58,334.00 $52,424.00 $56,757.00 $52,989.00 $56,391.00 $46,505.00 $48,463.00 $53,346.00 $47,393.00 $55,645.00 $48,361.00 $48,025.00 $46,442.00 $48,296.00 $45,247.00 $45,528.00 $48,160.00 $44,274.00 $48,235.00 $42,095.00 $41,306.00 $43,674.00 $42,312.00 $44,454.00 $42,920.00 $47,250.00 $42,740.00 $39,018.00 $41,983.00 $43,614.00 $40,590.00 $43,644.00 $42,206.00 $40,381.00 $38,431.00 $39,223.00 $38,297.00 $41,187.00 $35,670.00 $36,462.00 $33,857.00 $35,830.00 $53,345.00
$30,346.00 $25,013.00 $24,455.00 $20,130.00 $25,085.00 $23,932.00 $17,331.00 $22,512.00 $20,826.00 $24,633.00 $21,326.00 $22,337.00 $21,012.00 $22,467.00 $20,778.00 $19,776.00 $22,073.00 $18,952.00 $22,950.00 $17,489.00 $17,805.00 $19,071.00 $18,812.00 $17,521.00 $18,333.00 $18,385.00 $17,787.00 $20,353.00 $16,916.00 $16,991.00 $17,189.00 $18,790.00 $19,053.00 $15,549.00 $19,074.00 $16,426.00 $15,916.00 $16,091.00 $17,082.00 $14,430.00 $17,283.00 $15,345.00 $15,670.00 $14,208.00 $15,370.00 $15,698.00 $15,989.00 $14,751.00 $14,896.00 $12,677.00 $14,467.00 $21,204.00
37.40 36.70 37.90 36.20 37.10 37.50 34.00 34.10 38.80 36.10 38.70 37.70 38.60 36.70 39.50 33.80 40.90 38.40 40.70 37.80 36.80 38.10 36.70 38.30 36.90 35.30 38.30 41.00 38.60 38.80 44.10 41.10 35.20 38.10 37.90 38.60 38.20 37.80 35.40 36.30 37.10 36.40 37.90 34.50 36.70 37.50 36.80 37.40 37.50 35.50 37.10 37.10
Total Households 57,148 76,028 92,988 41,510 267,674 159,792 52,353 133,662 22,311 138,311 60,914 103,240 69,373 739,956 104,637 45,109 28,836 7,307 24,913 8,769 47,707 25,063 25,840 26,254 21,175 39,057 14,538 6,320 13,196 10,287 3,864 12,175 7,450 23,496 495,993 9,114 17,223 15,056 34,694 7,501 9,033 7,047 12,265 11,318 13,471 10,486 147,208 6,147 13,861 3,945 23,953 1,674,784
MARKET FACTS 2010 15
Racial Composition by County Kershaw White......................................... 72.5% Black......................................... 25.8% Asian........................................... 0.5% Other........................................... 0.3% Sumter White......................................... 49.6% Black......................................... 47.6% Asian........................................... 1.1% Other........................................... 0.4% Calhoun White......................................... 53.2% Black......................................... 45.7% Asian........................................... 0.2% Other........................................... 0.2% Saluda White......................................... 70.8% Black......................................... 28.1% Asian........................................... 0.1% Other........................................... 0.4% Richland White......................................... 49.7% Black......................................... 46.2% Asian........................................... 2.2% Other........................................... 0.5% Lexington White......................................... 82.3% Black......................................... 14.8% Asian........................................... 1.3% Other........................................... 0.5% Newberry White......................................... 67.7% Black......................................... 31.5% Asian........................................... 0.4% Other........................................... 0.4% Fairfield White......................................... 42.1% Black......................................... 56.8% Asian........................................... 0.3% Other........................................... 0.2% Note: Numbers do not equal 100% to account for people who selected more than one race. Source: U.S. Census Bureau
Largest S.C. Municipalities Rank City 1 2 3 4 5 6 7 8 9 10
Columbia Charleston North Charleston Rock Hill Mount Pleasant Greenville Summerville Sumter Spartanburg Hilton Head Island
Population 2009 119,961 107,845 87,482 61,620 59,113 57,428 41,575 39,159 38,561 33,838
Source: U.S. Census Bureau
Real Estate/ Construction
16 MARKET FACTS 2010
Education
Employment & Economic Development
Labor Force – Columbia Region Year 2009 2008 2007 2006 2005 2004 2003 2002 2001
Labor Force 182,168 180,604 178,825 175,448 170,517 167,156 163,261 159,320 157,978
Employed 164,652 169,483 169,502 165,346 160,303 157,105 154,065 151,753 151,389
Unemployed 17,516 11,121 9,323 10,102 10,214 10,051 9,196 7,567 6,589
Unemployment Rate 9.6 6.2 5.2 5.8 6.0 6.0 5.6 4.7 4.2
employment & economic development
Demographics
Financial Services
Unemployment Rates by County Richland Lexington Fairfield Kershaw Sumter Calhoun Saluda Newberry
March ’10 9.9 8.5 13.0 10.7 13.0 11.5 10.3 11.5
’09 9.6 8.4 13.4 11.0 13.0 12.6 9.9 11.8
’08 6.2 4.9 10.7 6.6 8.4 7.7 6.1 7.0
’07 5.2 4.1 8.5 5.3 7.0 6.3 5.3 5.6
’06 5.8 4.6 8.9 6.3 7.7 7.1 6.2 6.4
’05 6.0 4.9 7.9 6.6 8.5 7.4 6.7 7.0
’04 6.0 4.9 8.0 6.2 7.8 6.6 7.4 7.3
’03 5.6 4.5 10.5 6.3 7.5 6.8 6.3 7.4
’02 4.7 4.0 8.6 6.1 7.3 6.4 5.8 7.4
Source: Bureau of Labor Statistics
Unemployment Rates by State Alabama Florida Georgia North Carolina South Carolina Tennessee Virginia
’09 10.1 10.5 9.6 10.6 11.7 10.5 6.7
’08 5.2 6.3 6.2 6.2 6.9 6.7 3.9
Source: Bureau of Labor Statistics
’07 3.5 4.1 4.6 4.7 5.6 4.9 3.0
’06 3.5 3.4 4.7 4.7 6.4 5.2 3.0
’05 3.8 3.8 5.2 5.3 6.8 5.6 3.5
’04 5 4.7 4.7 5.5 6.8 5.4 3.7
’03 5.4 5.3 4.8 6.5 6.7 5.7 4.1
’02 5.4 5.7 4.8 6.6 6.0 5.3 4.2
’01 4.7 4.7 4.0 5.6 5.2 4.7 3.2
Source: Bureau of Labor Statistics
Industry Sectors by County, 2008 Employment % Employment # Calhoun Construction............................................7.2................... 431 Manufacturing.......................................21.1................ 1,273 Trade, Transportation, Utilities..................9.4................... 567 Information..............................................0.1....................... 8 Financial Activities...................................0.8..................... 46 Professional, Business Services..............4.9................... 293 Education, Health Services......................4.6................... 277 Leisure, Hospitality .................................1.9................... 115 Total Government..................................50.0................ 3,010 Total....................................................100.0................ 6,020 Fairfield Natural Resources, Mining.......................1.4..................... 76 Construction............................................4.3................... 240 Manufacturing.........................................7.5................... 412 Trade, Transportation, Utilities................35.4................ 1,955 Financial Activities...................................1.2..................... 65 Professional, Business Services..............5.4................... 296 Education, Health Services....................10.9................... 601 Leisure, Hospitality..................................4.3................... 238 Total Government..................................29.7................ 1,644 Total....................................................100.0................ 5,527 Kershaw Natural Resources, Mining.......................2.5................... 428 Construction............................................6.9................ 1,177 Manufacturing.......................................21.5................ 3,679 Trade, Transportation, Utilities................20.3................ 3,476 Information..............................................1.8................... 307 Financial Activities...................................2.8................... 485 Professional, Business Services..............5.5................... 945 Education, Health Services......................7.8................ 1,335 Leisure, Hospitality..................................8.3................ 1,415 Total Government..................................20.6................ 3,536 Total....................................................100.0.............. 16,783
Employment % Employment # Lexington Natural Resources, Mining.......................0.5................... 808 Construction............................................5.1................ 7,847 Manufacturing.........................................7.7.............. 11,917 Service-Providing..................................38.4.............. 59,360 Trade, Transportation, Utilities................15.4.............. 23,858 Information..............................................0.4................... 566 Financial Activities...................................3.0................ 4,705 Professional, Business Services..............5.5................ 8,489 Education, Health Services......................5.5................ 8,458 Leisure, Hospitality..................................6.6.............. 10,247 Total Government..................................11.8.............. 18,259 Total....................................................100.0............ 154,514 Newberry Construction............................................5.7................... 823 Manufacturing.......................................36.3................ 5,226 Service-Providing..................................36.7................ 5,286 Trade, Transportation, Utilities................13.6................ 1,953 Information..............................................0.6..................... 85 Financial Activities...................................1.6................... 234 Professional, Business Services..............5.0................... 726 Education, Health Services......................8.9................ 1,281 Leisure, Hospitality .................................5.2................... 752 Total Government..................................17.5................ 2,526 Total....................................................100.0.............. 18,892 Richland Natural Resources, Mining.......................0.1................... 495 Construction............................................2.3................ 8,245 Manufacturing.........................................3.1.............. 11,241 Service-Providing..................................39.9............ 143,296 Trade, Transportation, Utilities..................9.7.............. 34,708 Information..............................................1.3................ 4,804 Financial Activities...................................6.3.............. 22,683 Professional, Business Services..............7.8.............. 27,956
Employment % Employment #
Education, Health Services......................7.7.............. 27,803 Leisure, Hospitality..................................5.3.............. 18,991 Other Services.........................................1.8................ 6,350 Total Government..................................14.7.............. 52,898 Total....................................................100.0............ 359,470 Saluda Agriculture, Forestry, Fishing, Hunting...14.5................... 512 Construction............................................4.5................... 158 Service-Providing..................................29.0................ 1,023 Trade, Transportation, Utilities................12.8................... 453 Financial Activities...................................4.4................... 155 Professional, Business Services..............2.8..................... 99 Education, Health Services......................4.8................... 171 Leisure, Hospitality..................................2.7..................... 94 Total Government..................................24.4................... 862 Total....................................................100.0................ 3,527 Sumter Natural Resources, Mining.......................0.7................... 371 Agriculture, Forestry, Fishing, Hunting.....0.7................... 370 Construction............................................4.9................ 2,692 Manufacturing.......................................12.8................ 7,066 Service-Providing..................................35.4.............. 19,622 Trade, Transportation, Utilities................11.5................ 6,380 Information..............................................5.8................... 321 Financial Activities...................................2.0................ 1,109 Professional, Business Services..............4.4................ 2,439 Education, Health Services......................8.7................ 4,828 Leisure, Hospitality..................................6.1................ 3,396 Total Government..................................12.2................ 6,781 Total....................................................100.0.............. 55,375 Source: Central S.C. Alliance
Financial Services
employment & economic development
Demographics
Real Estate/ Construction
Education
MARKET FACTS 2010 17
Industrial Employers by County, 2008 Newberry Employment Product Description
Kraft Foods Global Inc. ................................................... 1,478........................................................Processed Turkey Georgia-Pacific Corp. ........................................................ 390............................................... Southern Pine Plywood Georgia-Pacific Corp. ........................................................ 360..........................................................Lumber & Chips Shakespeare Composites.................................................. 200.....................................................Lighting Equipment Trucast Inc. ....................................................................... 140.................................... Investment Casting – Foundry ISE America Inc. ............................................................... 130.................................. Egg Processing & Egg Products Komatsu America Corp., Newberry Manufacturing............. 100........................................................ Backhoe Loaders PCA................................................................................... 100..................................Corrugated Shipping Containers Kiswire Inc. ......................................................................... 90................................................................... Bead Wire International Paper – Newberry Lumber Mill........................ 85......................................Extrusion Coated Paperboard
WHEN IT COMES TO RENOVATIONS...
Calhoun
Eastman Chemical............................................................. 650............................................Plastic Naturals & Resins Devro Inc. ......................................................................... 373............................. Edible Casings for Meat Packaging Zeus Industrial Products Inc. ............................................. 130.................................. Fluoropolymer Tubing Extrusion Starbucks Roasting Plant................................................... 100.................................... Coffee Roasting & Distribution Morton Custom Plastics....................................................... 88............................................. Plastic Injection Molding Golden Kernel Pecan Co. Inc. .............................................. 78........................................................... Shelled Pecans Cameron Lumber Co. .......................................................... 58....................................................... Specialty Timbers Cameron Bedding & Manufacturing Co. Inc. ........................ 48...........................................Mattresses & Box Springs Alaglass Pools..................................................................... 45..................................... Industrial Fiberglass Products Environmental Fabrics Thermafab Inc. ................................ 37............ Floating Baffle System – Water & Wastewater
fairfield
Ben Arnold Beverage Co. .................................................. 430.......................................... Wine & Spirits Distribution VC Summer Nuclear Station............................................... 330...........................................Electric Power Generation Invista................................................................................ 225.................................... Tire Cord – Rayon & Polyester Prime Metal Coatings........................................................ 200....................................................Powder & E-Coating Lang-Mekra North America LLC......................................... 173.....................Mirror Systems for Commercial Vehicles Isola Laminate Systems..................................................... 122............. Copper-Clad Laminate Printed Circuit Boards Guardian Fiberglass........................................................... 100................................................... Fiberglass Insulation Elite Electronic Systems....................................................... 55................................................ Electrical Components
kershaw
Invista................................................................................ 800............................................. Synthetic Organic Fibers Target Distribution Center.................................................. 621......................................................Distribution Center S.C. Yutaka Technologies................................................... 280............................................................... ATV Steering Haier America Refrigerators Co. ........................................ 250...............................................................Refrigerators Elgin Fine Chemicals......................................................... 200...........................................Agricultural Intermediates New South Lumber Co. Inc. .............................................. 200......................................................... Dressed Lumber Kendall Co. – Wateree Plant............................................... 196............................................................Surgical Gauze Ahlstrom Nonwovens......................................................... 195...................................................... Nonwoven Fabrics DeRoyal Textiles Inc. ......................................................... 185............................................................ Medical Gauze Mancor S.C. Inc. ............................................................... 175................. Production Machine Shop (General & CNC)
lexington
Michelin North America Inc. ........................................... 1,750............................. Radial Automobile Passenger Tires Calltech Communications.................................................. 500..................Customer & Technical Support Call Center Shaw Industries................................................................. 500............................................................... Staple Nylon Cooper Tools...................................................................... 415............................................ Power-Driven Hand Tools Flextronics......................................................................... 400............... Assembly of Computer Systems & Switches CMC Steel – South Carolina............................................... 400................................................ Steel Reinforcing Bars Commercial Metal Co. – Lexington.................................... 370........................................................... Shredded Steel Union Switch & Signal Inc. ................................................ 300................................. Assembly of Electronic Products Walter P. Rawl & Sons Inc. ................................................ 250..................................................................Vegetables Nucor Building Systems..................................................... 240..................................... Prefabricated Metal Buildings
richland
Westinghouse Electric Corp. ........................................... 1200.............................................Nuclear Fuel Assemblies CSC Corp. ...................................................................... 1,100................................................. Computer Technology Bose Corp. ........................................................................ 960........................................................................ Radios International Paper............................................................ 699.................................................................. Fine Paper The State Newspaper........................................................ 556................................................................Newspapers Schneider Electric/Square D Co. ....................................... 530........................................Industrial Electrical Controls Sysco Corp. ...................................................................... 430............................................ Food Service Distribution Trane................................................................................. 416.............................................. Coils for HVAC Systems Intertape Polymer Group.................................................... 400............................................Pressure-Sensitive Tapes FN Manufacturing Inc. ...................................................... 400................................... .40-Caliber & 9 Mm Handguns
saluda
Amick Farms Inc. ........................................................... 1,400....................................................... Processed Poultry Milliken & Co. – Saluda Plant............................................. 200..............................................................Textured Yarn Gentry’s Poultry Co. Inc. .................................................... 120.........Integrated Poultry Operations – Grow & Process Carolina By Products......................................................... 115................................................................Animal Feed International Paper Co. ....................................................... 60.............................. Finished SYP Dimension & Boards Bartley Logging Service......................................................... 8...................................................................... Logging Meherrin................................................................................ 6......................................................................Fertilizer Saluda Standard-Sentinel Inc. ............................................... 4................................................................Newspapers Webbs Farm Service.............................................................. 2................................................................Animal Feed
sumter
Gold Kist Inc. ................................................................. 2,210............................................Poultry-Chicken Products Becton Dickinson Vacutainer Systems............................... 804...........................Disposable Blood Collection Devices Santee Print Works............................................................ 725...................Printing, Dyeing & Finishing Cotton Fabric Eaton Electrical.................................................................. 665................................ Electrical Distribution Equipment Cooper Hand Tools............................................................. 495...............................................Solid & Slip Joint Pliers V-B/Williams Furniture Co Inc. .......................................... 380.......................................... Master Bedroom Furniture Bosch Braking Systems..................................................... 350..............................................Drum Brake Assemblies Federal-Mogul Corp. ......................................................... 320............................................................. Diesel Pistons Color-Fi Inc. ...................................................................... 230........................................................................... Fiber
Source: Central S.C. Alliance
Before
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Real Estate/ Construction
18 MARKET FACTS 2010
Education
Highest-Paying Jobs in the Midlands Chief Executives Physicians and Surgeons, All Other Pediatricians, General Computer and Information Scientists, Research Pharmacists Engineering Managers Top Executives Veterinarians Lawyers Lawyers, Judges and Related Workers General and Operations Managers Atmospheric and Space Scientists Sales Managers Natural Sciences Managers Podiatrists Transportation Inspectors Computer Software Engineers, Systems Software Physician Assistants Financial Managers Industrial Production Managers Electrical Engineers Education Administrators, Postsecondary Financial Examiners Securities, Commodities and Financial Services Sales Agents Judges, Magistrate Judges and Magistrates
employment & economic development
Demographics
Financial Services
Lowest-Paying Jobs in the Midlands $161,419 $147,817 $133,782 $119,975 $101,139 $100,965 $95,267 $94,105 $93,447 $92,098 $89,461 $88,260 $88,223 $87,533 $87,402 $87,016 $86,794 $85,481 $84,760 $83,945 $82,758 $81,409 $80,005 $79,505 $79,209
Agricultural Workers Janitors and Cleaners, Except Maids and Housekeeping Cleaners Cleaners of Vehicles and Equipment Legislators Counter Attendants, Cafeteria, Food Concession and Coffee Shop Retail Sales Workers Food Servers, Nonrestaurant Combined Food Preparation and Serving Workers, Including Fast Food Other Food Preparation and Serving-Related Workers Food and Beverage Serving Workers Child Care Workers Cooks, Short Order Cooks and Food Preparation Workers Hosts and Hostesses, Restaurant, Lounge, and Coffee Shop Food Preparation Workers Personal Appearance Workers Weighers, Measurers, Checkers and Samplers, Record-Keeping Waiters and Waitresses Hairdressers, Hairstylists and Cosmetologists Cooks, Fast Food Cashiers Photographic Processing Machine Operators Bus Drivers, School Baggage Porters and Bellhops Sales and Related Workers, All Other
$14,283 $14,282 $14,230 $14,218 $14,208 $14,201 $14,183 $14,180 $14,103 $14,064 $14,063 $14,038 $14,022 $14,011 $14,008 $14,007 $13,996 $13,994 $13,981 $13,980 $13,974 $13,967 $13,899 $13,831 $13,710
Source: U.S. Department of Labor, Bureau of Labor Statistics
Employment and Openings Projections in Midlands for All Occupations for a Base Year of 2006 and a Projected Year of 2016 2006 Estimated Employment 338,195
2016 Projected Employment 357,653
Total 2006-2016 Employment Change 19,458
Annual Average % Change 0.6
Total % Change 6
Annual Average Openings As a Result of Growth 2,512
Annual Average Openings As a Result of Replacement 7,530
Total Annual Average Openings 10,042
Source: S.C. Department of Commerce
Financial Services
employment & economic development
Demographics
Education
Real Estate/ Construction
MARKET FACTS 2010 19
Financial Services Deposit Market Share Report: Offices and Deposits of all FDIC-insured Institutions (Deposits as of June 30, 2009, sorted by market share)
Institution Name Wachovia Bank N.A. Bank of America N.A. National Bank of S.C. First Citizens Bank & Trust Co. Inc. Branch Banking & Trust Co. Carolina First Bank S.C. Bank & Trust N.A. Bank Meridian N.A. First National Bank of the South S.C. Community Bank RBC Bank USA Regions Bank First Community Bank N.A. Ameris Bank First Palmetto Savings Bank FSB First South Bank Arthur State Bank VistaBank Southern First Bank N.A. Plantation Federal Bank Security Federal Bank Woodforest Bank
Certificate No. 33,869 3,510 2,111 15,504 9,846 26,849 13,425 58,222 35,383 35,241 33,184 12,368 34,047 20,504 28,396 34,222 15,085 58,650 35,295 32,503 31,100 31,123
State (HQ) NC NC SC SC NC SC SC SC SC SC NC AL SC GA SC SC SC SC SC SC SC TX
Bank Class N N N NM NM NM N N N NM SM SM N NM SA NM NM NM N SA SA SA
Outside State/Federal Market Charter No. of Offices Federal 3319 Federal 6158 Federal 37 State 163 State 1496 State 169 Federal 46 Federal 2 Federal 9 State 1 State 440 State 1879 Federal 9 State 50 Federal 18 State 4 State 19 State 1 Federal 5 Federal 9 Federal 12 Federal 108
Deposits $000 391,547,621 815,710,250 2,046,223 47,868,47 92,930,559 9,032,454 1,937,119 71,347 601,526 16,626 18,445,923 93,638,302 379,811 1,978,179 555,133 340,065 488,002 56,601 485,586 517,700 660,802 50,826
Inside Market No. of Offices 19 15 9 17 9 7 4 1 4 4 1 3 2 1 3 1 4 1 1 1 1 2
Deposits $000 2,641,383 2,279,071 2,002,804 898,341 822,844 432,170 272,628 142,670 123,293 70,215 69,201 63,447 54,604 47,109 47,818 44,240 42,609 24,926 19,103 10,951 9,281 1,098
Market Share 26.10 22.52 19.79 8.88 8.13 4.27 2.69 1.41 1.22 0.69 0.68 0.63 0.54 0.47 0.47 0.44 0.42 0.25 0.19 0.11 0.09 0.01
Bank Charter Classes: N - National Bank SM - Federal Reserve Member NM - Federal Reserve Nonmember SA - Savings Association Source: fdic.gov
Loans Guaranteed by the U.S. Small Business Administration – South Carolina 2007 Loans Amount January................62............ $17,555,900 February...............46............ $10,518,600 March...................61............ $14,588,000 April.....................58............ $11,723,500 May .....................65............ $12,007,310 June ....................65............ $15,192,300 July......................58............ $15,975,000 August..................63............ $11,883,600 September............77............ $21,159,800 October................68............ $13,325,400 November.............62............ $14,938,200 December.............60............ $18,008,200 Total................ 745........ $176,875,810
2008 Loans Amount January................54............ $16,427,100 February...............58............ $13,530,200 March...................69............ $18,417,000 April.....................70............ $19,586,700 May .....................32.............. $7,661,300 June ....................31............ $11,607,300 July......................29............ $10,495,700 August..................32............ $11,997,900 September............32............ $16,768,000 October................27............ $11,128,086 November.............29............ $11,665,600 December.............28.............. $6,579,500 Total................ 491 ....... $155,864,386
2009 Loans Amount January................15.............. $3,572,300 February...............27.............. $8,875,000 March...................25.............. $5,409,000 April.....................24.............. $7,814,100 May .....................27.............. $6,395,500 June ....................29.............. $7,795,100 July......................47............ $15,922,000 August..................46.............. $7,205,600 September............45............ $11,570,500 October................36............ $10,157,300 November.............33............ $12,279,300 December.............29.............. $5,743,000 Total................ 383........ $102,738,700
2010 Loans Amount January................32.............. $5,978,100 February...............43............ $16,519,300
Source: U.S. Small Business Administration, S.C. District Office
20
www.columbiabusinessreport.com
May 31 - June 11, 2010
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