MARKETFACTS August 2017 | www.CharlestonBusiness.com
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The publication cycle of Market Facts coincides each year with our staff’s support of the HALOS Back-to-School Drive. The pile of book bags in our office stuffed with school uniforms, composition books and No. 2 pencils reminds me of the excitement I felt as a kid when the new school year approached. It wasn’t that I was happy to be going back to schoolwork; rather, it was the optimistic anticipation of the unknown that the new school year brought. Can I and my fellow business leaders look optimistically toward the beginning of this school year and upon the status of our education system? We have a lot of work to do before we can say that we are adequately filling the talent pipeline with students who will be ready for the workforce when they graduate. However, shoots and leaves are sprouting. The Cradle to Career Collaborative’s plan is exceedingly well thought out. The organization’s various networks engaged in problem-solving are starting to notch some wins. Recently, a pilot program took federal student aid application rates in five high schools from a dismal 28% to a slightly above average 48%. There also are moves to evaluate Family Connects in Durham, N.C., as a possible solution to kindergarten readiness. Family Connects assesses a family’s needs and uses nurse visits to connect their infants to the specific resources they need to provide a healthy start. The Charleston County School District recently received a grant to hire career specialists who will work separately from guidance counselors to focus on helping students with their individual graduation plans Grady Johnson and work experiences and generally do a more thorough job of directing students toward the workforce. President and By and large, the business community has realized that it must engage much more proactively with Group Publisher students and school systems. This is a big step forward, and quite a number of local companies are taking a leadership role in educational engagement. If you want to see them in action, just drop in on our High School STEM Career Fair at the North Charleston Convention Center on Oct. 12. So call me an optimist. If you are deciding whether to be an optimist or a pessimist about our growth, here’s a big book full of trending facts to show where we are heading. When we came up with the idea of publishing Market Facts, we envisioned it as a tool for our readers to use for business plans. It was born of our need to gather facts and data to support our own expansion. When we discovered the difficulty of finding everything we needed, we had an epiphany: “Somebody ought to publish this stuff!” Of course, nobody hip and trendy writes out a business plan anymore. But you sure better do your research before you launch. As this publication has grown, it has taken its place as the companion to our annual Book of Lists. The combination of the listings of the largest companies in 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 good grasp of what drives the region’s business community. Our graphic artists are masters at presenting complex information in a way that is pleasing to the eye and easily understandable, and Market Facts is their tour de force. Each year, the team improves the layout by including more art, shading and highlighting of important facts, and by adding footnotes and explanations to help make the data more user-friendly. We’ve improved the ease of data interpretation this year by adding some explanatory charts within the main charts to help you get a better sense of trends. Again this year, we engaged Veronica Watson, a graduate of the University of South Carolina’s Darla Moore School of Business with a master’s degree in economics, to do the research. I would also be remiss if I didn’t give kudos to the Charleston Regional Development Alliance and the Charleston Metro Chamber of Commerce for their foresight in publishing the region’s Economic Scorecards, some of which we have excerpted here. It’s a brave move for organizations devoted to marketing and advocacy for the region’s business community to partner with independent journalists like us to lend credibility and to publish research on the region, showing the good, the bad and the ugly. The progress made over the past seven years we have published the Economic Scorecards has been impressive. I hope Market Facts aids you in improving the performance of your business planning. Congratulations to our title sponsors, the College of Charleston, HITT Contracting and Integral Solutions Group, as well as all of our section sponsors and advertisers, for their leadership in enabling us to provide this valuable resource for the region’s decision-makers. Enjoy! About the Cover: Sunset viewed from Sunrise Park on James Island. (Photo/Ryan Wilcox)
South Carolina’s Media Engine for Economic Growth President and Group Publisher - Grady Johnson gjohnson@scbiznews.com • 843.849.3103 Vice President of Sales - Steve Fields sfields@scbiznews.com • 843.849.3110 Creative Director - Ryan Wilcox rwilcox@scbiznews.com • 843.849.3117 Events Director - Kathy Allen kallen@scbiznews.com • 864.720.1225 Audience Development & IT Manager Kim McManus kmcmanus@scbiznews.com • 843.849.3116 Accounting Manager - Vickie Deadmon vdeadmon@scbiznews.com • 803.726.7541 CUSTOM MEDIA DIVISION Director of Business Development - Mark Wright mwright@scbiznews.com • 843.849.3143 Business Development Executive Elizabeth Hodges lhodges@scbiznews.com • 843.849.3105
SUBSCRIPTION INFORMATION Charleston Regional Business Journal (USPS 0018-822) is published biweekly, 27 times per year, including one special issue in January, by SC Biz News. P.O. Box 446, Charleston, SC 29402. Periodicals postage paid at Charleston, SC. Mailing address: 1439 Stuart Engals Blvd., Suite 200 Mount Pleasant, SC 29464. Postmaster: Send address changes to: Charleston Regional Business Journal, P.O. Box 446, Charleston, SC 29402
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1
Contents 4
Real Estate
60
Import, Export and Distribution
22
Architecture, Engineering and Construction
68
Hospitality and Tourism
34
Financial Services
76
Medical and Health Care
40
Demographics and Economic Development
82
Business Resources and Government
52
Education
SECTION SPONSORS REAL ESTATE
ARCHITECTURE, ENGINEERING AND CONSTRUCTION
EMPLOYMENT AND ECONOMIC DEVELOPMENT
EDUCATION
IMPORT, EXPORT AND DISTRIBUTION
MEDICAL AND HEALTH CARE
BUSINESS RESOURCES
HOSPITALITY AND TOURISM
2
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FINANCIAL SERVICES
Welcome from our sponsors
G
reetings, and welcome to another edition of the CRBJ Market Facts publication! For those of you unfamiliar with the College of Charleston, you should know that the College is a nationally preeminent, comprehensive, public university deeply rooted in the liberal arts and sciences tradition and dedicated to its public mission of advancing the region’s economy, culture and future. Founded in 1770, we are the oldest university in South Carolina (13th oldest in the country) and located in the heart of downtown Charleston. We are the Lowcountry’s capital of intellectual inquiry and a training ground for great thinkers and problem-solvers. Our faculty of distinguished teacher-scholars empower our students, both undergraduate and graduate, traditional and nontraditional, to be engaged, ethical citizens and leaders in our global society. When our students depart through our gates as graduates, they are ready for work, ready for advanced studies and, most important, ready to lead the life extraordinary. We invite you to learn more about the College of Charleston and see how you might partner with us in 2017 and beyond. As we know, the possibilities of this region, like the opportunities here at the College, are boundless.
T
his year is our 80th year in business — but that’s not the only thing we’re celebrating. 2017 also marks our 20th anniversary here in Charleston, a city where we’ve had the privilege to work on some remarkable projects over the years. For us, construction is more than a job, it’s a passion. That drive has helped us build a tradition of quality here in Charleston, striving to meet the highest standards for our Clients. With expertise in campus development, corporate interiors, health care, hospitality, education, aviation, defense and government, our team has successfully executed jobs across the region’s top industries. Whether the project calls for new construction, renovation, or historic preservation, we have the knowledge and skills to deliver above expectation every time. As we reflect on this milestone year, we’re grateful for all the relationships we’ve created and look forward to many more shared successes in the years to come.
W
hen making critical IT decisions, Integral Solutions is the perfect IT Services Partner to lead your company forward. In an increasingly techsavvy market, it’s necessary to have some type of monitoring and management system that can automatically detect, respond, and remediate threats, performance issues, and network and system problems in real time. At Integral, we have different levels of monitoring to support your company’s everchanging needs. Companies with no or limited IT resources can rely on our managed services program for total IT outsourcing. We help you manage your organization’s IT infrastructure and operations from servers and workstations to software, printers, support services, and performance monitoring.
www.charlestonbusiness.com
3
Real Estate Exploding demand for multifamily and single-family housing across the Charleston region continues to drive prices and construction. Analysts expect multifamily to slowly level off as more than 10,000 units begin to open for occupancy. Commercial real estate, including flexible office space, industrial and retail, provides a mix of prices, inventories and options across the entire region for companies looking for a place to expand or move.
FAST FACTS
58
$1,045
Average days on market before a sale
Demand continues to drive monthly rent
for single-family housing in 2016.
for multifamily housing in the region.
PAGE 7
PAGE 13
SECTION SPONSOR
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REAL ESTATE | www.charlestonbusiness.com
Median home prices over 5 years $320K
$260K
– Berkeley County
– Charleston County
THE TREND:
RISING HOME PRICES
$300K $280K
– Dorchester County
$310K
26%
$293K
$275K
Median home prices rose an average of 26% from 2012-2016 across the region. $250K
$240K $228K
$220K $210K $201K
$200K $185K
$180K $168K
$160K
$167K
2012
$170K
$175K
2013
$200K
$190K
$178K
2014
2015
2016
Source: Charleston Trident Association of Realtors, 2016 Annual Report SPONSORED CONTENT
6
REAL ESTATE | www.charlestonbusiness.com
Days on market until sale
– Single-family
– Condos
150 THE TREND:
HOMES SELLING FAST
140
The time it takes to sell a home continues to drop. This is due to high levels of interest in the area as well as a lower inventory of homes for sale.
130 120
INVENTORY OF HOMES FOR SALE
110 6,498
100
6,201 6,241
5,879 4,733
90 80 2012
70
2013
2014 2015 2016
60 50
2012
2013
2014
2015
2016
Source: Charleston Trident Association of Realtors, 2016 Annual Report
www.charlestonbusiness.com | REAL ESTATE
7
A look ahead at residential home sales – 2012
– 2013
– 2014
– 2015
– 2016
– 2017 forecast
Number of homes sold
Average sales price THE TREND:
THE TREND:
RAPIDLY INCREASING HOME SALES
23% 25,000
PRICES CONTINUE TO RISE
6%
Increase forecast for the number of homes to be sold from 2016 to 2018.
104%
21,774 19,616 17,720
13,103
$281K
$291K
$307K
$321K
$329K
$341K
$250K
14,257
$200K
10,638
10,000
$300K $264K
16,218
15,000
Increase in average sales price forecast from 2016 to 2018.
$350K
increase from 2012 to 2018
20,000
– 2018 forecast
$150K $100K
5,000
$50K
0
0 Sources: Charleston Trident Association of Realtors, 2016 Annual Report; Charleston Metro Chamber of Commerce, Economic Outlook Forecast, 2017-2018
Single-family homes vs. condos Median sales price
24%
$206K
$219K
$229K
$244K
– 2013
Single-family
98 97
$160K
$173K
$181K
$190K
96 95 94 93 92 91
8
REAL ESTATE | www.charlestonbusiness.com
– 2016
Condos
99
$255K
Single-family
– 2015
100
Increase from 2012 to 2016
$145K
– 2014
Percent of original list price received
31%
Increase from 2012 to 2016
– 2012
Condos
90
THE TREND:
CONDOS GAINING VALUE FASTER Both single-family homes and condos continue to rise in value. Condos have picked up the pace 7% faster than singlefamily homes since 2012. Condos also saw original list prices rise by 6.2% since 2012. Single-family homes have risen by 3.9%. The recent boom in construction has focused on apartments and hotels rather than condos. The lack of new condo inventory has contributed to rising values.
Source: Charleston Trident Association of Realtors, 2016 Annual Report
Distressed home review
– 2012
THE TREND:
RAPID REDUCTION IN DISTRESSED HOMES
c Per
2013
20 14
$142K
20 16 2014
2015
25 .8
18
20 15
$112K
$127K
$160K
6.2
7.5 % %
– 2015
– 2016
Top areas: Distressed market share in 2016
es
20 13
MEDIAN SALES PRICE OF FORECLOSURES
d ist re s s e d s a e nt of l
– 2014
20 12
As the percentage of distressed homes declines, prices have risen 43% from 2013 to 2016.
– 2013
%
12 .5
.0
%
%
Folly Beach
20.4%
Hollywood/Ravenel/Meggett Area
12.3%
James Island
10.0%
Hanahan 8.9% Greater North Charleston
8.3%
Greater Summerville Area
6.8%
West Ashley Area
6.3%
Goose Creek / Moncks Corner
6.1%
Johns Island
6.0%
Dorchester Road Corridor
5.2%
2016 Source: Charleston Trident Association of Realtors, 2016 Annual Report
10
REAL ESTATE | www.charlestonbusiness.com
Charleston area apartment market All information obtained from Real Data Charleston as of March 2017
Average monthly rent in the Charleston area - March 2017 $1075 $1050 $1025
– Dorchester County
THE TREND:
$1125 $1100
Total apartment units - March 2017
$925 $900
$
39+61 38.7%
998
1,019
$
5,134
North Charleston $
$875
West Ashley
$825
$
$800
6,391
897
9,159
$850
$775 Feb. 2012
Goose Creek
Summerville
PERCENTAGE GROWTH IN RENT FROM FEB. 2012 - FEB. 2017
$950
3,983
7,887
From February 2012 to February 2017 the average rent rose from $810 to $1,123.
$975
– Charleston County
– Average Monthly Rent
RISING RENT
$1000
– Berkeley County
1,070
Mount Pleasant
2,082
James Island
1,400
$
Feb. 2017
1,116
1,468
$
Downtown
1,361
$
Source: Real Data Charleston March 2017 publication
www.charlestonbusiness.com | REAL ESTATE
11
Apartment units under construction Number of units 5,000 4,500 4,000 3,500
THE TREND:
APARTMENT BOOM CONTINUES
5,465
5,291
4,533
Even with thousands of multifamily housing units under construction in the Charleston area, rents continue to increase, likely fueling the building boom.
3,700
3,587
3,497 3,140
3,000 2,415
2,500 2,0001,634
2,525
1,525
1,500 1,000 500 0 Feb. 2012
Aug. 2012
Feb. 2013
Aug. 2013
Feb. 2014
Aug. 2014
Feb. 2015
Aug. 2015
Feb. 2016
Aug. 2016
Feb. 2017
Source: Real Data Charleston March 2017 publication
12
REAL ESTATE | www.charlestonbusiness.com
Median monthly apartment rent, 2015
THE TREND:
LOWER WAGES, HIGHER RENT
Across S.C. and selected metro areas $1,045
$1,040
Charleston rents are higher than major cities in the Southeast, like Atlanta and Charlotte, while per capita personal income is lower.
$1,010
PER CAPITA PERSONAL INCOME, 2015
$980
$45,092
$44,935
Atlanta
Charlotte Charleston
$910
$43,393
$890 $855 $808
$768 $703
Charleston
Mt. Vernon, Wash.
Atlanta
Savannah
CharlotteRock Hill
Myrtle Beach
Columbia
AugustaAiken
GreenvilleAnderson
Florence
Source: Joint Center for Housing Studies of Harvard University
www.charlestonbusiness.com | REAL ESTATE
13
Charleston area annual apartment supply and demand - Supply
- Demand
4,000 THE TREND:
SUPPLY MATCHES DEMAND
3,500
The spike in apartment construction over the past few years has closely matched a rise in demand for multifamily.
3,000 2,500 2,000 1,500 1,000 500 0
2010
3rd Quarter
2011
3rd Quarter
2012
3rd Quarter
2013
3rd Quarter
2014
3rd Quarter
2015
3rd Quarter
2016
3rd Quarter Source: MPF Research
14
REAL ESTATE | www.charlestonbusiness.com
Office submarket comparison, April 2017 Daniel Island
Downtown
Mount Pleasant
Summerville/Goose Creek
Average rental rates per square foot $35
North Charleston
West of the Ashley
Total available square feet 1,400,000
$33.77
1,347,078
$31.70 1,200,000
$30
1,000,000 $25
$23.16
$21.86 $20
$18.22
800,000
$18.43 600,000
$15 400,000
271,160 $10
$0
200,000
121,973
157,216
203,751 141,833
0 Source: Lee & Associates
www.charlestonbusiness.com | REAL ESTATE
15
Retail submarket comparison, April 2017 Daniel Island
Downtown
Mount Pleasant
Summerville/Goose Creek
North Charleston
Average rental rates per square foot
Total available square feet
$40
600,000
$36.79
West of the Ashley
533,009
$35
500,000
$30 400,000 $25
$20
$19.26
301,494
300,000
$21.14
261,325
$15.86
$16.48
$16.16
290,484
200,000
$15
$10
100,000
24,728 $0
59,157
0 Source: Lee & Associates
16
REAL ESTATE | www.charlestonbusiness.com
Industrial/Flex submarket comparison, April 2017 Daniel Island
Downtown
Mount Pleasant
Summerville/Goose Creek
Average rental rates per square foot
West of the Ashley
Total available square feet
$14.54
$14
North Charleston
4,564,221 4,500,000
$12.30
4,000,000
$12
3,856,553
3,500,000
$9.76
$10
$8
$6
3,000,000 2,500,000
$5.62
$5.93 $4.81
2,000,000 1,500,000
$4 1,000,000 $2
$0
500,000 0
543,943 66,727
9,650
43,593 Source: Lee & Associates
www.charlestonbusiness.com | REAL ESTATE
17
Industrial Buildings Ranked by Available Square Footage
Available Square Feet
Clear Height (in feet)
Dock-Height Truck Doors
Wall Type
Year Built
Brokerage Firm
Broker Phone / Website
537 Omni Industrial Blvd. Summerville, SC 29483
587,720
36'
79
Reinforced Concrete
2017
Colliers International
843-723-1202 www.colliers.com/en-us/southcarolina
1116 Newton Way Summerville, SC 29483
512,686
30
37
Reinforced Concrete
2008
CBRE
843-577-0702 www.cbre.com/charleston
830 Drop Off Drive Summerville, SC 29483
343,150
36
64
Reinforced Concrete
2017
Colliers International
843-723-1202 www.colliers.com/en-us/southcarolina
180 Trade Center Pkwy Summerville, SC 29483
307,353
32'
-
Reinforced Concrete
2017
JLL
843-805-5100 www.us.jll.com
1023 Magi Road Hanahan, SC 29410
205,856
28'-30'
24
Reinforced Concrete
2016
Colliers International
843-723-1202 www.colliers.com/en-us/southcarolina
1588 Bushy Park Rd. Goose Creek, SC 29445
193,700
21'
9
Metal
1994
Cooper Rivers Partners
843-820-6000 -
2310 Charleston Regional Parkway Charleston, SC 29492
185,120
30'0"
38
Reinforced Concrete
2015
Charleston Industrial
843-377-8383 www.charlestonindustrial.com
4531 Piggly Wiggly North Charleston, SC 29405
183,535
30'
38
Reinforced Concrete
2015
CBRE
843-577-0702 www.cbre.com/charleston
0 Weber Drive Ladson, SC 29456
173,000
32'
-
Reinforced Concrete
2017
CBRE
843-577-0702 www.cbre.com/charleston
6555 Fain Blvd. North Charleston, SC 29406
170,000
17'-24'
10
Concrete
1975
CBRE
843-577-0702 www.cbre.com/charleston
4280 Pace St. North Charleston, SC 29405
158,000
26'-33'
2
Metal
1967
Charleston Industrial
843-377-8383 www.charlestonindustrial.com
537 Omni Industrial Blvd. Summerville, SC 29483
100,000
28'
13
Reinforced Concrete
2017
Colliers International
843-723-1202 www.colliers.com/en-us/southcarolina
5802 North Rhett Ave. Hanahan, SC 29405
100,000
28'
13
Reinforced Concrete
-
Colliers International
843-723-1202 www.colliers.com/en-us/southcarolina
1701 Charleston Regional Parkway Charleston, SC 29492
78,000
30'
22
Reinforced Concrete
2016
CBRE
843-577-0702 www.cbre.com/charleston
211 Farmington Road Summerville, SC 29483
65,535
15.5'-22'0
20
Structural Steel
1979
Colliers International
843-723-1202 www.colliers.com/en-us/southcarolina
4269 Crosspoint Drive North Charleston, SC -
65,000
30'
6
Reinforced Concrete
2016
Charleston Industrial
843-377-8383 www.charlestonindustrial.com
4400 Arco Lane North Charleston, S.C. 29418
62,221
22'
5
Concrete
2000
Carolina Commercial LLC
843-805-6060 www.carolinacre.com
2325 Charleston Regional Parkway Charleston, SC 29492
50,400
18'
1
Reinforced Concrete
2006
Lee & Associates
843-747-1200 www.lee-charleston.com
7290 Investment Dr. North Charleston, SC 29418
42,500
20'
2
Metal
1992
Colliers International
843-723-1202 www.colliers.com/en-us/southcarolina
8351 Palmetto Commerce Parkway Ladson, SC 29456
42,500
33'
35
Reinforced Concrete
2016
Avison Young
843-725-7200 www.avisonyoung.com
Address
Source: Colliers International. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to lists@scbiznews.com, fax to 843-849-3122 or go to www.scbiznews.com/data
18
REAL ESTATE | www.charlestonbusiness.com
Researched by Business Journal staff
2016 regional home sales at-a-glance South Carolina Total closed sales
Charleston area
17,727
79,609
(Percent increase from 2015)
Columbia area
Greenville area
12,505
12,222
(+9.0%)
(+7.8%)
(+10.9%)
(+7.8%)
15+85 18+82 7+93 8+92
Percent condos
Days on Market
15.2%
17.9%
6.5%
7.4%
99
58
83
61
96.9%
98.0%
96.8%
97.5%
97+3 98+2 97+3 98+2
Percent of original price received
Top five areas in closed sales
Top five areas with fewest days on the market until sold
17,727 83
12,505
12,493
88
92
12,222 58
61
7,446
Charleston Trident
20
Greater Greenville
Coastal Carolinas
Greater Columbia
North Augusta
Charleston Trident
Greater Greenville
Greater Columbia
Western Upstate
Beaufort
Source: S.C. Association of Realtors, 2016 Annual Report
REAL ESTATE | www.charlestonbusiness.com
Top five areas for percent of list price received 98.0%
97.5% 97.3%
Charleston Trident
Greater Greenville
North Augusta
97.1%
Piedmont
96.9%
Spartanburg and Beaufort
Top five in median price $293K
$240K
$193K
Hilton Head
Charleston Trident
Beaufort
$180K
Greater Greenville
$168K
Coastal Carolinas
Source: S.C. Association of Realtors, 2016 Annual Report
www.charlestonbusiness.com | REAL ESTATE
21
Architecture, Engineering and Construction Expenditures for construction and related costs rose by more than 9% in 2016 compared to the previous year, making Charleston the top major market in the state for architecture, engineering and construction. The market continues to be one of the higher-cost places to build, though adjustments still put the region slightly below the national average.
FAST FACTS
$1,440,000,000
$948
Total construction expenditures for the
Average weekly wages in construction
Charleston area in 2016.
for the Charleston metro area.
PAGE 28
PAGE 30
SECTION SPONSOR
22
ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com
New construction homes for sale, Charleston area 1,700
1,600
1,500
1,400
THE TREND:
PRICES RISING AS SUPPLY FALLS After a steady rise in new construction from 2014 through March 2016, the number of homes under construction sharply decreased. Last year’s inventory reached a 5-year low at 3.4 months (see page 25). Sellers received 100.5% of original list price for new construction.
MONTHS SUPPLY OF INVENTORY FOR NEW CONSTRUCTION 5.4 4.5
4.4
March 2016 Peak of new construction inventory
5.0 3.4
458
2012
2013
Drop in new construction homes for sale from March to June 2016
2014 2015 2016
1,300
1,200
1,100
1,000
2012
2013
2014
2015
2016 Source: Charleston Trident Association of Realtors, 2016 Annual Report
24
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Percent of original list price received, Charleston area – New Construction
– Previously Owned
102%
100.5%
TOP AREAS: NEW CONSTRUCTION MARKET SHARE IN 2016 Johns Island......................................... 45.8% Goose Creek /Moncks Corner............ 38.8% Upper Mount Pleasant..........................36.4%
100%
Hollywood/Ravenel/Meggett Area......34.6% Greater Summerville Area...................22.0%
98%
Greater North Charleston................... 20.5% Daniel Island...........................................17.9% Dorchester Road Corridor.................... 17.4%
96%
West Ashley Area.................................. 16.8% Lower Mount Pleasant.......................... 14.6%
95.3%
94%
Hanahan...................................................9.8% Wando/Cainhoy Area..............................8.3% Upper Charleston Peninsula.................. 7.8%
92%
James Island...........................................6.8% Seabrook Island......................................4.9% Downtown Charleston............................3.9%
90%
Sullivan’s Island.......................................3.2% Isle of Palms.............................................2.8% Folly Beach...............................................2.6%
88%
Kiawah....................................................... 1.7%
86%
Edisto Area...............................................0.7%
2012
2013
2014
2015
2016 Source: Charleston Trident Association of Realtors, 2016 Annual Report
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New private housing units authorized by building permits in S.C. Recession
2,800 2,600
THE TREND:
PRIVATE HOUSING STILL RECOVERING Though not at pre-recession levels, building permits continue to rise steadily across the state.
2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
Source: Charleston Trident Association of Realtors, 2016 Annual Report
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Housing building permits for S.C. metro areas = 200 homes, 2015
39.3+60.7
12.3+ 87.7 99+ 1 99+1
= 200 homes, 2016
12.3%
= Percent change from 2015-2016
-1.1%
39.3+60.7 39.3%
1,379
-1.2%
4,683
5,814
5,753
6,211
6,974
4,627
1,921
Spartanburg
Columbia
Greenville-Anderson-Mauldin
Charleston-North CharlestonSummerville Source: U.S. Census Bureau
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27
9.3+ 90.7 7+93
Total construction costs for S.C. metro areas = 2015
= 2016
39.3+60.7
= Percent change from 2015-2016
4+96 4.0%
42+58 42.0%
$232M
$760M
7.0%
$1.08B
9.3%
$1.44B
$1.32B
$1.15B
$790M
$329M
Spartanburg
Columbia
Greenville-Anderson-Mauldin
Charleston-North CharlestonSummerville Source: U.S. Census Bureau
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S.C. construction costs less than U.S. average, 2016 To price jobs correctly, builders use area modification factors to estimate and adjust costs. Percentage factors in specific South Carolina cities are shown below. U.S. Average -1% -2% -3% -4% -5% -6% -7% -8%
Charleston
Greenville
Columbia
Spartanburg
Beaufort
Rock Hill
Myrtle Beach
Source: 2016 National Building Cost Manual - Craftsman
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Construction jobs by county, 2016 Number of jobs
Number of companies 1,400
14,000
– Dorchester County
1,333
– Berkeley County
– Charleston County
Average weekly wage $1,200
12,180
$1,073 1,200
12,000
10,000
$1,000
$936 $836
1,000 $800 800
8,000
$600 600
6,000
4,000
2,000
0
3,305 1,982
400
304
200
0
370
$400
$200
$0 Source: S.C. Commerce Department Labor Market Analysis
30
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What S.C. construction jobs pay
Supervisors $56,310
Floor Sanders, Finishers $37,920
Insulation Workers $33,520
Building Inspectors $49,030
Glaziers $37,020
Stonemasons $36,360
Construction Laborers $33,520
Electricians $43,710
Plumbers $43,330
Brickmasons $35,110
Paperhangers $34,670
Cement Masons $33,440
Drywall Installers $31,620
Carpenters $38,400
Plasterers $37,960
Tile and Marble Setters $33,890
Carpet Installers $33,640
Painters $31,010
Roofers $30,930 Source: U.S. Bureau of Labor Statistics
/2&$ 2&$/ / &200,77(' 3(5 ' (;3(5,(1&('
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CHARLESTON UNDER CONSTRUCTION
Skygarden
28 Woolfe St., Charleston Developer/owner: Seine-SCP Woolfe Street LLC, Atlanta Architect: LS3P, Charleston General contractor: Trident Construction, North Charleston Engineers: Thomas & Hutton, Mount Pleasant (civil); DesignWorks, Charleston (landscape); Ellinwood & Machado, Atlanta (structural); Jordan & Skala, Dallas (mechanical, electrical, plumbing) Estimated completion date: July Estimated total cost of project: $33 million This project is an eight-story student housing development with 94 apartments with balconies, private bedrooms and living spaces. Amenities include a ground-floor lobby, swimming pool, fitness rooms and two stories of parking. There will be a rooftop deck with views of the Arthur Ravenel Jr. Bridge and Charleston Harbor.
Stono Park Elementary School
1699 Garden St., Charleston Developer/owner: Charleston County School District Architect: SGA Architecture, Charleston Engineers: RMF Engineering, Charleston (mechanical, electrical, plumbing); Britt Peters and Associates Inc., Mount Pleasant (structural); Cypress Engineering, Summerville (civil) Estimated completion date: August 2019
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The Saint Hotel Charleston Historic District
194 East Bay St., Charleston Developer/owner: Seaside Hospitality Corp., Key West, Fla. Architect: Goff D’Antonio Associates, Charleston Engineers: Lehmann Engineering, San Antonio (structural); Saber Engineering, Charlotte (mechanical, electrical, plumbing) This 6,055-square-foot, five-story hotel with 47 guest rooms will include a new lobby, bar, food service and valet parking on the first floor. The second floor through the fourth floor will include hotel rooms and support spaces, and the fifth floor will be a rooftop penthouse.
Estimated total cost of project: $16.5 million This new, 70,000-square-foot elementary school will be built on the site of the existing school following demolition. The facility will have capacity for 500 students. Design is based on current Charleston County School District standards. Master planning has taken into consideration the site constraints of limited acreage and the existing flood plain, resulting in a two-story design to maximize the building program and on-site circulation.
IFA Manufacturing & Distribution Center
Charleston Trade Center – Speculative Building 3
544 Trade Center Parkway, Summerville Developer/owner: The Keith Corp., Charlotte Architect: Merriman-Schmitt Architects Inc., Charlotte Contractor: Choate Construction, Mount Pleasant Engineer: Alliance Consulting Engineers, Columbia (civil) Estimated completion date: Summer This 307,353-square-foot warehouse on 37.7 acres will offer industrial space to a variety of clients. Previously completed site work included a pond, underground drainage, asphalt paving, and a concrete loading dock and dolly pads. The warehouse and industrial operations include painted concrete tilt-up walls and a 60-mil thermoplastic polyolefin roof.
479 Trade Center Parkway, Summerville Developer/owner: The Keith Corp., Charlotte Architect: McMillan Pazdan Smith Architecture, Spartanburg Contractor: Frampton Construction, Charleston Engineers: Alliance Consulting Engineers, Columbia (civil); Citadel Contractors, Apex, N.C. (structural); SteelFab, Charleston (structural); Hill Plumbing, Sumter (plumbing); Carolina Fire Control, Concord, N.C. (fire protection) Design Build Mechanical, Charlotte (mechanical); Langford Electrical, Greer (electrical) Estimated completion date: Jan. 29, 2018 Estimated total cost of project: $17,227,219 This project includes new construction and site work for a manufacturing and distribution facility. The exterior finishes include a concrete tilt wall and curtain wall glass system with a thermoplastic polyolefin roof system, and the interior finishes include acoustical ceiling “clouds,” wood doors, plastic laminate casework, solid-surface countertops, storefront glazing, and a combination of vinyl composition tiles, luxury vinyl tile, carpet and ceramic tile flooring.
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Financial Services Three banks operating in the Charleston metropolitan area hold a $6.4 billion share of the market: Wells Fargo Bank, Bank of America and South State Bank. Combined, the three represent more than 52% of deposits in the regional banking sector. Net income fell 4.9% in 2016 compared to the previous year in banking and finance across the state, an unusual trend in the sector, which had seen income growth for five consecutive years.
FAST FACTS
274,917
$2,936
Number of members in Charleston’s
S.C. has one of the lowest per capita tax
eight-largest credit unions.
burdens in the Southeast and U.S.
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South Carolina banking performance All insured institutions
76+24
Total assets
Number of institutions reporting THE TREND:
-23.8% decrease in
$40B
Mergers and aquisitions in the industry have led to a decrease in the number of banking institutions in the last three years.
total assets
$36.9B
$30B
CONSOLIDATION IN BANKING
$27.7B
65
$28.1B
60
56
2015
2016
$20B 2014
Percentage of unprofitable institutions
$10B
0
2014
2015
2016
12.3+87.7 8.3+91.7 12.5+87.3 12.3%
8.3%
12.5%
2014
2015
2016
Source: Federal Deposit Insurance Corp., Division of Insurance and Research
Net income of South Carolina insured institutions
$263M
$250M $200M $150M
$250M
$170M
$149M
$148M
2012
2013
$100M $50M
$2M
0 -$50M -$100M -$150M
-$111M 2010
2011
2014
2015
2016
Source: Federal Deposit Insurance Corp., Division of Insurance and Research
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FINANCIAL SERVICES | www.charlestonbusiness.com
Deposit market share report, 2016 Charleston metro statistical area
31
Number of institutions in the market Other Market Share: 12.6% 10. The Bank of South Carolina Deposits: $383 million Market Share: 3.10% 9. SunTrust Bank Deposits: $393 million Market Share: 3.18%
196
$12.4 billion
25.7+14.6+12.46.65.95.64.83.23.111.2 Number of offices inside market
Total deposits inside market
1. Wells Fargo Bank, National Association Deposits: $3.1 billion Market Share: 25.27%
The top 10 banks have
87.4%
8. Bank of North Carolina Deposits: $597 million Market Share: 4.83%
2. Bank of America, National Association Deposits: $1.8 billion Market Share: 14.63%
of the market share
7. CresCom Bank Deposits: $685 million Market Share: 5.55% 6. Branch Banking and Trust Co. Deposits: $725 million Market Share: 5.87%
5. Synovus Bank Deposits: $729 million Market Share: 5.90%
3. South State Bank Deposits: $1.5 billion Market Share: 12.44%
4. First-Citizens Bank & Trust Co. Deposits: $817 million Market Share: 6.61%
Source: FDIC Annual Deposit Market Share Report
Charleston’s largest credit unions $1,600,000,000
$1,400,000,000
MEMBERS
$1,634,944,403
155,806
$1,200,000,000
$1,00,000,000
$800,000,000
$583,306,546
46,842 $600,000,000
$400,000,000
$324,287,795
53,392 $52,176,651
$51,901,423
6,957
7,911
$200,000,000
$11,098,929
2,531
$2,572,960
572
S.C. Federal Credit Union
Heritage Trust Federal Credit Union
CPM Federal Credit Union
Latitude 32 Federal Credit Union
Santee Cooper Credit Union
Berkeley Community Credit Union
C O Federal Credit Union
Charleston County Teachers Federal Credit Union
$1,580,043
906
Source: National Credit Union Association 2017 Quarter 1 reports
www.charlestonbusiness.com | FINANCIAL SERVICES
37
S.C. venture capital funding 2013 was the first year that S.C. offered the Angel Investor Tax Credit
NO. OF VENTURE CAPITAL DEALS
As South Carolina continues to attract entrepreneurs interested in technology, high-end manufacturing and business services, the amount of venture capital flowing into the state also has increased, with more deals and larger investments over the past five years.
FUNDING TOTAL
20
$100M $80M
15
$60M 10 $40M 5 0
$20M 2008
2009
2010
2011
2012
2013
2014
2015
$0
THE TREND:
VENTURE CAPITAL ON THE RISE The increase in venture capital deals indicates a surge in entrepreneurship across S.C. AVERAGE NUMBER OF DEALS
4
7
2001-2009
2010-2015
AVERAGE WORTH OF DEALS
$20.7M 2001-2009
$52.2M 2010-2015
Sources: S.C. Department of Commerce, The South Carolina Innovation Plan; PwC/NVCA MoneyTree Report; Thomson Reuters
South Carolina Angel Investor Tax Credit To qualify for the credit, an angel investor must make an investment in a company pre-qualified by the S.C. Secretary of State. Companies that qualify • Less than five years old • Headquartered in South Carolina • 25 or fewer employees • Gross income under $2 million in any previous fiscal year • Engaged in manufacturing, processing, warehousing, wholesaling, software development, IT services, R&D, and certain service-related facilities • Complete an application with the Secretary of State and receive approval prior to receiving a qualifying investment Angel investor requirements • Accredited per SEC rules • Make the investment after the company has been qualified by the S.C. Secretary of State • Apply for the credit prior to Dec. 31 of the year in which the investment is made • File a tax credit form with your tax return
Qualifying tax credits for investors • Equal to 35% of the investment amount (e.g. a $10,000 investment would be eligible for up to a $3,500 credit) • Can be taken up 50% in the year of the investment, with the remainder available in subsequent years (up to 10 years from the year of investment) • Maximum of $100,000 for a single taxpayer in a single tax year — so an individual investor can claim a tax credit for up to $285,714 of qualified investments in a single year ($285,714 times 35% = $100,000). Married taxpayers can take $100,000 each. • Eligible to be carried forward for up to 10 years if not used • Can be sold, exchanged or transferred, but only once. Non-South Carolina investors (with no state income tax liability) or in-state investors that cannot use the credit can sell their credit to a South Carolina taxpayer. Source: S.C. Angel Network
State and local tax burdens State and local tax burdens per capita South Carolina Alabama
U.S. Average
$2,936
Tennessee
8.4%
$3,426
North Carolina
9.8%
7.3%
$3,738
Georgia
Mississippi
9.3%
$4,420
$3,067
Florida
State and local tax burdens as % of state income
8.6%
8.7%
9.1%
9.9%
$3,659 $2,742
U.S. Average
8.9% $3,318
Virginia
$4,623 Source: Tax Foundation Report, FY 2012
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Demographics and Economic Development Advanced industries, including high-end manufacturing and engineering, drive opportunities and create obstacles for individuals and businesses in the Charleston area. Commute times and housing continue to be challenging issues that hinder businesses hoping to expand, locate or recruit talent to the Charleston metro area, and for municipal and county governments hoping to ride a rising tide of regional economic development.
FAST FACTS
24.8
5,860
Average commute time in minutes in
Architecture, engineering and related
the Charleston area, slightly below
services account for 16% of STEM jobs.
the U.S. average.
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If you make $44,000 a year in the Charleston MSA, here's what you would need to earn to live similarly in these cities: $44,000 $43,348 $42,175 $41,437
$41,307
$41,002 $39,656
Atlanta
Asheville
Charlotte
Columbia
Greenville
Raleigh
Source: The Council for Community and Economic Research
Average wage, 2015
39.3+60.7
= Percent change 2010-2016
$52,942 U.S. Average THE TREND:
INCREASING WAGES STILL LAG U.S. $44,813, the average wage in the Charleston metro area, falls $8,129 behind the national average but is higher than the state average.
11+ 89 8.2+ 91.8 11.8+88.2 11.8%
11.0%
8.2%
$42,875
$42,912
Greenville
Columbia
15.2+84.8 15.2%
$44,813
$42,002
South Carolina
42
Charleston
Source: 2015 Five Year American Community Survey
DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com
Advanced industries in the Charleston MSA The Regional Economic Scorecard produced by the Charleston Metro Chamber of Commerce and the Charleston Regional Development Alliance has focused on advanced industries. This sector employs 20%+ of its workforce in STEM-intensive occupations and spends $450 or more per worker per year on research and development. According to the Brookings Institute, advanced industries are the country’s best opportunity to support innovative, inclusive and sustainable growth.
Advanced industries share of all jobs, 2015
Annual average percent change in advanced industries jobs, 2015
Rank 20 out of 100
Rank 24 out of 100
10.5%
4.2%
Advanced industries output, 2015
Advanced industries share of total output, 2015
Rank 72 out of 100
Rank 32 out of 100
$5.25B
17.8%
The five largest, advanced industries by number of jobs, 2015 Computer Systems Design and Related Services
Aerospace Product and Parts Manufacturing
5,356 jobs
5,583 jobs
14.6% share of advanced industries jobs
15.3% share of advanced industries jobs
Motor Vehicle Parts Manufacturing
2,949 jobs 8.1% share of advanced industries jobs
Architectural, Engineering, and Related Services
Management, Scientific and Technical Consulting Services
5,860 jobs
2,831 jobs
16% share of advanced industries jobs 1,000
2,000
3,000
4,000
2,000
0 NUMBER OF JOBS
1,000
5,000
7.7% share of advanced industries jobs Sources: Brookings Institute; 2016 Regional Economic Scorecard
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South Carolina annual patents granted 1,000
978
THE TREND:
PATENTS ON THE RISE
971
999
1,058
The dramatic rise of patents granted in South Carolina from 2010 - 2015 was the fastest percentage growth in the nation.
900
TOP STATES BY % GROWTH OF PATENTS GRANTED 2010 - 2015 62.3%
800
South Carolina
700
56.1%
45.0%
793
44.6%
South California Michigan Dakota
652
579
600
524 500
2008
2009
2010
2011
2012
2013
2014
2015
Source: S.C. Department of Commerce, The South Carolina Innovation Plan
South Carolina military impact study Total Economic Impact
Other facts
$24.1 181,847 8.4% Billion
of SC economy
Jobs
Regional Impact
62,520
Rock Hill $526.4 Million 4,690 Jobs
Upstate $2.42 Billion 21,668 Jobs
Number of military veterans in S.C. Midlands $4 Billion 36,343 Jobs
Pee Dee $501.9 Million 4,471 Jobs Sumter $2.39 Billion 16,397 Jobs
Beaufort $2.2 Billion 27,285 Jobs
417,515 Grand Strand $682.2 Million 6,092 Jobs
Aiken $802.1 Million 5,839 Jobs
44
Number of Department of Defense personnel in S.C.
Charleston $10.6 Billion 67,108 Jobs
DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com
Number of defense contractors in S.C.
752 Source: S.C. Military Base Task Force Economic Impact Study, April 2017
Lowcountry a draw for state in-migration Migration between South Carolina metro areas and Charleston Came from Charleston
Came to Charleston 2,400 2,200
2,288
A lot of people move from other areas of South Carolina to live in Berkeley, Charleston and Dorchester counties, but how many people does this metro send to other parts of the Palmetto State?
2,246
2,000 1,800 1,600 1,400 1,200 1,000
825
800 600
525
400
767 537
495 285
200 Columbia
Greenville
Florence
471 279
220
191
285
145
Hilton Head Island
Myrtle Beach
Spartanburg
Only Sumter sends fewer people to the Charleston area than the Charleston area sends to that region of the state. If you add up the nearly 10,000 moves between South Carolina’s population centers and Charleston, more than 77% came toward the Lowcountry counties.
Sumter
Source: U.S. Census Bureau, Migration/Geographic Mobility Survey 2010-2014
Comings and goings in South Carolina
Top 10 areas sending people to the Charleston region
Atlas Van Lines issues a report each year on the ingress and egress of residents of each state. By tracking yearly moves, Atlas gets a snapshot of nationwide migration patterns. In 2016, South Carolina was deemed a “balanced” state, meaning about the same number of people left as came in. The Atlas numbers show the trend over five years.
Five years of S.C. migration trends
Coming
The data experts at the U.S. Census Bureau have dug up the places people come and go, by metro area and country of origin. Here’s a look at where most people came from in the Charleston-North Charleston region from 2010-2014.
Going
2016
Metro area
1,838 2,104
1. Columbia
2015 2,018
2,450
2014 2,130
2,564
2013 1,824
2,187
2012 1,676 1,932 Source: Atlas Van Lines annual migration study
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No. of people 2,288
2. Greenville
2,246
3. New York/New Jersey
1,892
4. Charlotte
1,392
5. Atlanta
1,088
6. Florence
825
7. Europe
798
8. Hilton Head Island
767
9. Washington, D.C.
745
10. Seattle
738
Where does Ohio land on this list? The Cleveland area ranks at
31 253 out of the
regions and metro areas that people move from to Charleston.
Over five years,
37,601 people moved to the Charleston region from the 253 areas tracked by the U.S. Census.
Source: U.S. Census Bureau, Migration/Geographic Mobility Survey 2010-2014
Average daily population growth, 2014-2015 Mean travel time to work (in minutes), 2015
48 +
Metro statistical areas
TOTAL POPULATION GROWTH PER DAY
13 BIRTHS MINUS DEATHS
Austin
Raleigh
MEAN TRAVEL TIME BY COUNTY 27.3
28.1
24.0
NET DAILY IN-MIGRATION
Seattle
Nashville
As more people move farther from the city centers, to find more affordable housing, the traffic they experience gets worse.
30.7
35
THE TREND:
URBAN SPRAWL LEADING TO LONGER COMMUTES
166
Charleston
26.2
157
25.9
100
Dorchester
26.0 25.1
U.S. Average
84
Berkeley
24.8
Jacksonville 78 Charleston
48
Salt Lake City
43
Greenville
34
Richmond
32
= 10 People
Sources: 2016 Regional Economic Scorecard; U.S. Census Bureau
Atlanta
Austin
Charlotte
Raleigh
Charleston
Source: 2015 Five Year American Community Survey
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S.C. infrastructure issues carry costs The S.C. General Assembly passed a roads bill that provides $600 million a year for roads and bridges from an incremental increase in the state’s gas tax and other fees. The S.C. Department of Transportation awarded $26.5 million in roads projects in July soon after the law went into effect.
Charleston area drivers now lose
41 hours per year
from traffic congestion. That’s up from 30 hours in 2015.
South Carolina has the highest rate of fatal traffic crashes in the nation with 1.89 fatalities per 100 million vehicle miles of travel in 2015. The national average is 1.13.
Rural roads have a traffic fatality rate nearly four times higher than all other roads in the state.
$5.4 billion The estimated cost an inadequate transportation system costs South Carolina motorists every year in the form of additional vehicle operating costs, congestion-related delays and traffic crashes.
Additonal cost per driver in the Charleston area
$452
Vehicle operating costs
$1,047 Congestion
$351 Safety
$1,850 total Source: TRIP, S.C. Transportation By The Numbers: Meeting the State’s Need for Safe, Smooth and Efficient Mobility
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SCDOT spending SCDOT currently spends $415 million annually on road and highway pavement repairs and reconstruction. This represents 46% of the $900 million needed annually to significantly improve the state’s major highways.
46+54 46% of needed funding
The Federal Highway Administration estimates that each dollar spent on road, highway and bridge improvements results in an average benefit of $5.20 in the form of reduced vehicle maintenance costs, reduced delays, reduced fuel consumption, improved safety and reduced emissions.
=
Biking in S.C. More people than ever before in the Charleston area are choosing bicycles as a means of transportation, despite concerns over safety and bike-friendly infrastructure such as designated lanes and biking paths.
73+27
Charleston ranked first in the increase in percentage of workers who commuted to work on a bike from 2009 to 2013. = 500 commuters who bike
2009
2,753
The amount of money per person the SCDOT spends on biking and walking projects. That ranks 45th in the country.
0.6+99.4
$0.83
23.7 fatalities per 10,000 commuters
13%
1,588
2013
SCDOT spending
73% increase
South Carolina ranks 46th in the country in bike fatalities
of all traffic fatalities involved non-drivers in S.C.
11% 2%
Gotcha Bike to launch bike share on Charleston peninsula
.06%
The percentage of the SCDOT budget allocated to biking and walking projects.
Charleston City Council recently voted to allow the bike company to operate the service on the peninsula. The bike share program enables residents and tourists to rent bikes from stations around the city of Charleston for a fee and return the bicycle when they have finished riding.
Gotcha Bike plans to build 250 bicycles in Charleston and place them at up to 20 stations throughout the peninsula for its new bike share program. (Photo/Provided)
Sources: Palmetto Cycling Coalition; Alliance for Biking and Walking, 2016 Benchmarking Report; U.S. Census Bureau
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Regional Economic Scorecard The Regional Economic Scorecard provides business, governmental, community and academic leaders with unbiased data to collectively address the metro area’s top development opportunities and challenges. It is brought to the community annually by the Charleston Metro Chamber of Commerce and the Charleston Regional Development Alliance.
Read the report online: charlestonchamber.net/economicscorecard or crda.org/economicscorecard Look for the 2017 Regional Economic Scorecard this December. The Charleston region’s comparative communities reflect the profound economic evolution we have experienced. Charleston’s position as a global competitor ranks alongside metros throughout the country with similar economic assets. Charleston MSA population is currently 745,000 and is projected to be 1 million by 2025.
AUSTIN
High tech, telecommunications, business services, tourism, biomedical research, and education. Produces the most science and engineering higher education degrees. MSA population is 2 million.
GREENVILLE
JACKSONVILLE
Transportation manufacturing and distribution hub. Major industries: international trade, construction equipment, paper mills, and military. MSA population is 1.5 million.
Strong manufacturing sector, biotechnology and tech innovation, warehousing and distribution, health care, higher education, communication technology, and entrepreneurism. MSA population is 875,000.
INDEX RANKINGS
CHARLESTON INDEX RANKINGS
Human Capital............................. 5th Entrepreneurial Environment... 6th Innovative Activity........................7th Quality of Place............................ 4th Brookings’ Advanced Industries ranking: 20th
INDEX RANKINGS
NASHVILLE
Economically diverse. Major industries: finance, music and entertainment, health care and biotechnology, plastics, publishing, technology, tourism, and transportation technology. MSA population is 1.8 million.
INDEX RANKINGS
INDEX RANKINGS
Human Capital............................................................ 1st Innovative Activity...................................................... 2nd Entrepreneurial Environment.................................. 2nd Quality of Place........................................................... 9th Advanced Industries ranking..............................9th
Human Capital............................................................ 9th Innovative Activity...................................................... 6th Entrepreneurial Environment.................................. 9th Quality of Place........................................................... 7th Advanced Industries ranking..............................25th
Human Capital............................................................ 8th Innovative Activity...................................................... 9th Entrepreneurial Environment.................................. 7th Quality of Place........................................................... 5th Advanced Industries ranking..............................76th
Human Capital............................................................ 7th Innovative Activity...................................................... 5th Entrepreneurial Environment.................................. 1st Quality of Place........................................................... 8th Advanced Industries ranking..............................44th
RALEIGH
RICHMOND
SALT LAKE CITY
SEATTLE
High tech, health care, higher education, research and development, government agencies, engineering, transportation and distribution, specialized manufacturing, and pharmaceuticals. MSA population is 1.3 million.
Manufacturing, IT, semiconductor manufacturing, biotechnology, research and development, finance and insurance, distribution, government agencies, and health care. MSA population is 1.3 million.
INDEX RANKINGS
Government, commercial and industrial center for Intermountain West region. Major industries: industrial banking, finance and insurance, government, tourism, technology innovation, and health care. MSA population is 1.2 million.
INDEX RANKINGS
Human Capital............................................................ 2nd Innovative Activity...................................................... 3rd Entrepreneurial Environment.................................. 4th Quality of Place........................................................... 3rd Advanced Industries ranking..............................10th
Human Capital............................................................ 4th Innovative Activity...................................................... 8th Entrepreneurial Environment.................................. 8th Quality of Place........................................................... 1st Advanced Industries ranking..............................83rd
Aerospace and transportation manufacturing, advanced technology including: biotechnology, health and life sciences, the Port and transportation logistics, international trade, tourism, and entrepreneurial ventures. MSA population is 3.7 million.
INDEX RANKINGS
INDEX RANKINGS
Human Capital............................................................ 5th Innovative Activity...................................................... 4th Entrepreneurial Environment.................................. 3rd Quality of Place........................................................... 2nd Advanced Industries ranking..............................17th
Human Capital............................................................ 3rd Innovative Activity...................................................... 1st Entrepreneurial Environment.................................. 5th Quality of Place........................................................... 6th Advanced Industries ranking..............................2nd
HUMAN CAPITAL INDEX
INNOVATIVE ACTIVITY INDEX
Educated residents with specialized skills and knowledge fuel existing businesses’ growth and attract new employers in our target industries.
An innovative environment provides growth opportunities for existing businesses and talent, and attracts leading-edge entrepreneurs and investors from outside the region.
The Trend
The Trend
• Index is relatively unchanged with all indicators remaining steady, continuing the positive trend since 2005
• For the first time, Charleston’s Innovation Index is trending positive, mostly because of a surge in federal funding for local research projects
114
166
M CH RI ON
N STI AU
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145
RA
NASHVILLLEE IL GREENV
48
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50
75
100 = United States Average
125 0
DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com
100 = United States Average
189
TLE AT SE EIGH RAL TIN AUS
8890
LEI GH
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103 105
116 115 114
ILLE ENV
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94
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NASH VILLE RICH MON D
98
74LESTON
LEST ON EC
LT LA K
CITY
& SA
• Access to venture capital has improved but not as substantially as the U.S. and other metros; patent activity continues to lag
SALT LA KE
104
CHAR
28
• Young professional in-migration performs the strongest, with Charleston outranking Nashville for the first time
• Charleston’s employment in technical positions is strong, as evidenced by the region’s growing advanced manufacturing and knowledge economy
200
ENTREPRENEURIAL ENVIRONMENT INDEX
QUALITY OF PLACE INDEX
An unsupportive entrepreneurial climate can cause successful startups to seek more hospitable communities. Small business growth depends on the continued growth of advanced industries.
Highly skilled workers have more flexibility in where they choose to live and work. Lifestyle matters most. Affordable housing options near job centers and multimodal transit solutions are critical to the region’s sustained economic prosperity.
The Trend
The Trend
• Charleston offers a solid entrepreneurial environment; however the rate of business growth is not as strong as other metros
• Trend remains positive; however, Raleigh’s index has surpassed Charleston’s • Positive performance is primarily from easy access to health care professionals and a reduction in violent crime since 2005
• Proprietors’ income continues to increase, but the rate of increase slowed, causing the region’s rank among peer metros to drop
• Travel congestion and affordable housing options remain major regional challenges
• While the index is trending positive, Charleston’s index slipped beneath the U.S. average for the first time
CHAR
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AU ST IN
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95 97 91 93
T AUS
SEATTLE
88
102 SALT LAKE CI & RALEIGH TY
99
ENV
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117
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119 12 1 SA RA LT LEI LA GH KE CI TY
9L7ESTON
OFF THE CHARTS
230
RICHMOND
75
100 = United States Average
125 50
100 = United States Average
150
www.charlestonbusiness.com | DEMOGRAPHICS AND ECONOMIC DEVELOPMENT
51
Education South Carolina’s technical college system contributes to the Charleston region’s development of a highly skilled workforce with several companies across the state depending on partnerships with schools like Trident Technical College. Education data show that technical schools also help four-year colleges like Charleston Southern University, The Citadel and the College of Charleston, with a large percentage of college students first having attended a technical school to jump start their educational careers.
FAST FACTS
$256,675,134
$10,322
Scholarships from lottery money awarded
Average per-pupil expenditures across all
in the Charleston area last year.
four school districts in the region.
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EDUCATION | www.charlestonbusiness.com
Charleston-area school districts Berkeley County School District
Charleston County School District
Dorchester School District 2
Dorchester School District 4
State Report Card Absolute Rating 2014.............................................. Excellent 2013..................................................... Good
State Report Card Absolute Rating 2014.............................................. Excellent 2013..................................................... Good
State Report Card Absolute Rating 2014.............................................. Excellent 2013.............................................. Excellent
State Report Card Absolute Rating 2014.............................................. Excellent 2013................................................Average
229 E. Main St. Moncks Corner, SC 29461 www.bcsdschools.net Grades PK-12 Superintendent to be named Board Chair: Sally Wofford No. of Schools.........................................40 No. of Charter Schools...........................0
75 Calhoun St. Charleston, SC 29401 www.ccsdschools.com Grades PK-12 Superintendent: Gerrita Postlewait Board Chair: Kate Darby No. of Schools..........................................81 No. of Charter Schools......................... 10
102 Green Wave Blvd. Summerville, SC 29483 do.ddtwo.org Grades PK-12 Superintendent: Joseph Pye Board Chair: Gail Hughes No. of Schools..........................................21 No. of Charter Schools...........................0
500 Ridge St. St. George, SC 29477 www.dorchester4.k12.sc.us Grades PK-12 Superintendent: Morris Ravenell Board Chair: Kenneth Jenkins No. of Schools........................................... 6 No. of Charter Schools...........................0
Four-year graduation rate – Berkeley
– Charleston
– Dorchester District 2
– Dorchester District 4 87.8% 85.9%
85%
83.1%
80%
85.8%
84.6%
80.7% 77.3%
76.9%
83.8% 83.8% 81.6%
80.3% 80.3%
81.7%
82.9%
78.0%
75%
70%
54
EDUCATION | www.charlestonbusiness.com
2013
2014
2015
2016 Source: S.C. Department of Education
Per-pupil expenditure, 2015-2016
Student enrollment, 2015-2016 48,147
50,000 40,000
$13,238
$13,500
$11,404
$11,000
33,287
$8,815
30,000
$8,500
25,589
20,000
$6,000
10,000
$3,500
$7,830
2,237 Berkeley
Charleston
Dorchester 2
Dorchester 4
Average SAT scores, 2016 1,550
1,450
$48,000
1421
$44,000
1,350
$42,000
Charleston
Dorchester 2
Dorchester 4
$47,581 $46,213
$46,000
1,400
Berkeley
Dorchester 2
Dorchester 4
$50,000
1469
1450
Charleston
Average teacher salary, 2015-2016
1520
1,500
Berkeley
Berkeley
Charleston
$47,519
$47,196
Dorchester 2
Dorchester 4
Source: S.C. Department of Education
www.charlestonbusiness.com | EDUCATION
55
Regional Education Report: Chapter 3
As a community-wide movement, Tri-County Cradle to Career Collaborative spent the last five years analyzing the state of education. Annually, TCCC’s Regional Education Report benchmarks how well students are progressing by using data to understand where we are now, where we are going and what needs to be done to ensure every child is prepared for college or career. Below are excerpts for the 2017 Regional Education Report: Chapter 3 - Status Report on Public Education in the Tri-County Region.
To view the entire report go to www.tricountycradletocareer.org
84+16
43%
84%
on-time graduation rate
35% are ready for college-level work
of adults 25 and over hold an associate degree or higher
For every 100 students that entered the class of 2010
67+33 67%
are work-ready
On-time high school graduation has increased 10 percentage points since 2012, yet 7-in-10 graduates are not ready for college and 3-in-10 are not ready for work.
56
EDUCATION | www.charlestonbusiness.com
68
graduated high school
44
enrolled in a college or university
= 2 students
35%
of high school graduates complete a 2-year or 4-year degree in six years.
24
graduated on time with a 2-year (4 students) or 4-year (20 students) degree
S.C. high school graduation rates - All Public School Students
- Low Income Students
- Children with Disabilities
100% THE TREND:
GRADUATION RATES CLIMBING
90%
80% 74.0%
70%67.0%
77.6% 75.0% 68.0%
70.5%
80.1% 72.5%
80.3% 73.5%
Income level and heath have a negative impact on the likelihood a child will graduate high school in South Carolina. Children with disabilities have seen the largest increase in graduation rates. PERCENTAGE INCREASE OF GRADUATION RATE FROM 2010-11 TO 2014-15 10.0%
60% 49.0%
50% 39.0%
40%
30%
2010-11
40.0%
2011-12
43.2%
2012-13
6.3%
6.5%
43.2%
2013-14
2014-15 Sources: Governing.com, U.S. Department of Education
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57
ACT results for S.C. students in 2016 Number of students tested
% of total students
% who met benchmarks in all disciplines*
All students
51,098
100%
14%
18.5
Black/African-American
14,786
29%
2%
15.4
247
<1%
6%
16.3
White
26,458
52%
21%
20.3
Hispanic/Latino
3,551
7%
9%
17.6
Asian
755
1%
33%
22.0
Native Hawaiian/Other Pacific Islander
75
<1%
8%
17.2
Two or more races
2,095
4%
14%
18.8
Prefer not to respond/No response
3,131
6%
12%
17.6
Race/ethnicity
American Indian/Alaska Native
Average ACT scores**
Top 5 college majors that interest S.C. high school students
1. Health science and technologies (19%)
3. Engineering (8%)
2. Business (8%)
5. Social sciences and law (6%)
4. Arts: Visual and performing (7%)
*Disciplines are English, mathematics, reading and science. **Maximum score is 36.
Cumulative distribution of net lottery proceeds through FY 2015-2016 BERKELEY
CHARLESTON
DORCHESTER
$22,894,660.44
$44,915,708.63
$21,002,489.73
60,903
110,074
53,866
$84,826,809.37
$173,281,176.58
$83,393,957.16
$560,083.34
$960,725.29
$454,963.46
K-12
Scholarship awards Scholarship amounts Library totals
K-12
Scholarship awards Scholarship amounts Library totals
K-12
Scholarship awards Scholarship amounts Library totals
Source: S.C. Education Lottery System
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EDUCATION | www.charlestonbusiness.com
Degrees awarded by South Carolina Technical College System, by the numbers public research institutions
117,485
111,563
Annualized Enrollment in Credit Programs
8,004 7,161
96% 87%
were placed in a job related to their education or they are continuing their studies and furthering their education.
39% Male
Source: South Carolina Commission on Higher Education
7,241
6,000 4,732
of our students are South Carolina residents.
39+61
– Medical University of South Carolina 8,000
of all South Carolinians enrolled as undergraduates in South Carolina’s public higher education attend one of our 16 colleges.
Female
– Clemson University
Annualized Enrollment in Non-Credit Programs
57%
61%
– University of South Carolina
5,087
8,059
7,470
5,210
5,564
5,702
4,000
2,000 793
877
929
937
2011 – 2012
2012 – 2013
2013 – 2014
2014 – 2015
1,002
0 2015 – 2016
Source: S.C. Commission on Higher Education
www.charlestonbusiness.com | EDUCATION
59
Import, Export and Distribution The Port of Charleston reached several milestones this year, demonstrating the vital role the waterfront plays in fueling the regional and state economy. The port set a record for highest container volume, and the largest containership to ever visit the port came through the shipping channel on the Cooper River. Today, port activity accounts for tens of thousands of jobs and billions in economic activity in several sectors of the economy.
FAST FACTS
$10,200,000,000
39.5%
Estimated value of wages from labor
Increase in Charlestonâ&#x20AC;&#x2122;s gross
related to activities at the port.
domestic product from 2007 to 2015.
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S.C. State Ports Authority Fiscal Year 2017 Major Accomplishments Record container volume for port’s entire history
Wando Wharf refurbishment 50% completed
First 13,000 TEU ship
Historical pier container volumes through FY2017 1,400
Pier containers (in thousands)
140,000
1,208
1,200
1,095
741
1,097
100,000
890
822
803
121,761 120,000
957
1,000 800
Greer volume FY 2014-2017
80,000
600
60,000
400
40,000
200
20,000
0
FY2010
FY2011
FY2012
FY2013
FY2014
Refrigerated cargo growth 100,136
Among regional ports, Charleston has the biggest increase at 17%
FY2015
105,587
FY2016
FY2017
0
19,512
FY2014
FY2015
FY2016
FY2017
A 2015 study by the University of South Carolina’s Darla Moore School of Business concluded that the ports’ statewide impact includes:
63,417
54,947
58,407
Ports’ impact 187,600 jobs
62,831 47,116
91,698
$53 billion in annual economic activity
10% of total annual gross state product
Charleston
Norfolk Jul ‘15 - Apr ‘16
62
Savannah Jul ‘16 - Apr ‘17
IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com
$912 million in tax revenue
$10.2 billio n in labor income
Source: S.C. State Ports Authority
Automotive at the Port of Charleston
T
he automotive sector relies heavily on the Port of Charleston to bring in parts and export products. Michelin imports natural rubber from Southeast Asia to its facilities in the Upstate and Midlands and exports S.C.-made tires to global markets. BMW Manufacturing Co. in Greer imports supplies and exports finished vehicles. BMWs arrive at the Columbus Street Terminal in downtown Charleston daily via rail cars from the Upstate. The German automaker hit a record one year ago when it exported its 2 millionth S.C.made car at the port. Mercedes-Benz Vans has a complex supply chain designed to avoid U.S. import tariffs. The manufacturer fully assembles vans in Europe,
breaks them down, ships the pieces in containers and then reassembles the vans at its North Charleston plant. The automaker will soon manufacture vans from start to finish at its expanding Lowcountry campus, which is currently under construction with a $500 million investment. Volvo Cars is also joining the stateâ&#x20AC;&#x2122;s automotive landscape, investing $600 million in building out a car manufacturing campus in Berkeley County. The automaker expects to produce 65,000 cars in the first year, and about 35,000 of those will be exported through the port. Volvo and port officials are working out the logistics to get cars from the site to the Columbus terminal, which involves the state lengthening an existing rail line.
Cars coming, going at the port
245,579
Finished vehicles exported
22,050
Finished vehicles imported
267,629
Total finished vehicles moving through the port in 2016
Containerized auto parts Imported
117,538 TEUs* Exported
65,138 TEUs* Total containerized auto parts moving through the port in 2016
182,676 TEUs* Automakers and suppliers often say proximity to the Port of Charleston played a large role in their decision to locate operations in the state. BMW exports cars through the Columbus Street Terminal in Charleston. (Photo/Ryan Wilcox)
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*Note: TEUs are a common industry measurement representing a 20-foot equivalent of a shipping container Source: S.C. State Ports Authority, calendar year 2016
Gross Domestic Product by metropolitan area, 2007 - 2015
2007 GDP
46.6%
2015 GDP
25.2%
$80B $70B $60B $50B
26.7%
30.3%
39.5% $40B $30B
30.8%
27.3%
$59.2B $74.1B
$30.3B $38.4B
Raleigh, N.C.
Greenville
Richmond, Va.
Columbia
$17.0B
$29.4B $38.3B
Charleston
$13.0B
$51.7B $75.8B
Asheville, N.C.
$26.1B $36.4B
$10B
$16.8B
$20B
$13.2B
Measured in Billions of US Dollars
Percentage change from 2007-2015
Savannah
Source: U.S. Department of Commerce Bureau of Economic Analysis
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65
South Carolina importing and exporting IMPORTS EXPORTS TOTAL VALUE OF SOUTH CAROLINA IMPORTS
TOTAL VALUE OF SOUTH CAROLINA EXPORTS
$39.0B
$40B
PERCENTAGE GROWTH FROM 2013-2016
$40B
20+80
$37.8B $36.1B
$35B
19.5%
$35B
$32.9B
$30B
$31.3B
$31.0B
$29.8B
$30B $26.3B
$25B
$25B
$20B
$20B
2013
2014
2015
2016
TOP 5 COUNTRIES SENDING IMPORTS TO S.C., 2016
$6.59B
2013
2014
2015
2016
TOP 5 COUNTRIES RECEIVING EXPORTS FROM S.C., 2016
$6.4B
-11.7% from 2015
+45.0% from 2015
$5.92B
+0.8% from 2015
$3.75B
$3.40B
-1.5% from 2015
-4.2% from 2015
$2.95B
+5.8% from 2014
$3.45B
+1.2% from 2015
$2.84B
+0% from 2015
-15.3% from 2015
$1.52B
-42.2% from 2014
Germany
China
Mexico
Canada
Japan
TOP 5 COMMODITIES IMPORTED TO S.C., 2016
China
Germany
Canada
United Kingdom
Mexico
TOP 5 COMMODITIES EXPORTED FROM S.C., 2016
1. Uranium enriched in U235, plutonium................................................................ $1.18 billion
1. Civilian aircraft, engines and parts................................................................... $5.69 billion
2. Parts of airplanes or helicopters...................................................................... $902 million
2. Vehicles with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc......................$4.52 billion
3. Rubber and new pneumatic tires used on motor vehicles (including station wagons and racing cars)........................................................ $858 million 4. Gear boxes for motor vehicles.......................................................................... $852 million 5. Engines: reciprocating piston engines used for the propulsion of motor vehicles................................................................................ $829 million Source: U.S. Census Bureau
66
$2.12B
IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com
3. Vehicles with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 2500cc......................................$2.44 billion 4. Vehicles with only compression-ignition internal combustion piston engine (diesel or semi-diesel), cylinder capacity over 1500 but not over 2500cc...... $2.19 million 5. Vehicle parts, gear boxes and related parts...................................................$686 million
Hospitality and Tourism A $200 million renovation and expansion at Charleston International Airport continues to draw more airlines and more visitors, making the entire region more accessible to a global audience for tourism and business. In 2016, Charleston International Airport set a record for travelers with 3.7 million visitors, a number expected to surpass 4 million in 2017. In the first four months of the year, the number of air travelers to the region increased 6.3%.
FAST FACTS
5,440,000
$18,000,000
Annual visitors to the Charleston area in
Money spent on Airbnb rentals in the
2016, up 21% from five years ago.
region in 2016, mostly in Charleston.
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Tourism economic impacts in the Charleston area, 2016 TOTAL ECONOMIC IMPACT $5B
ESTIMATED ANNUAL NUMBER OF VISITORS 6M
PERCENTAGE GROWTH FROM 2012-2016
46+54
5.15M
46%
$4B
5.44M
$4.22B
$3.68B
5M
$3.34B
4.76M
4.90M
4.50M
PERCENTAGE GROWTH FROM 2012-2016
$3.14B
$3B
4M
$2B
2012
2013
2014
2015
2016
3M
21+79 21%
$2.89B
2012
2013
2014
2015
2016
AVERAGE DAILY EXPENDITURES PER DAY, PER ADULT
Accommodations
$111
Dining/Food
$51
Local Transportation
$16
Tours/Attractions
$33
Shopping
$50
Other Expenses
$25
Source: College of Charleston Office of Tourism Analysis
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HOSPITALITY AND TOURISM | www.charlestonbusiness.com
Airport renovation by the numbers $200 million Overall project costs: $169 million in bonds and $31 million in cash from the airport budget.
100,000
square feet
Space added to the airport â&#x20AC;&#x201D; it now stands at 440,000 square feet.
1,500
2,000
People who worked on the renovation project: 300 companies were awarded 236 contracts. Main construction partners included Charleston County Aviation Authority; Mead & Hunt, program manager; Fentress Architects, architect and engineers; and Austin HITT, construction manager-at-risk.
Electrical outlets and USB ports now available throughout CHS to charge mobile devices.
at CHS, 9 Restaurants up from six before the
8
renovation.
Lanes available at the Transportation Security Administration security checkpoint at CHS (depending on wait times), up from two before the renovation. Photo/Liz Segrist
shops at CHS, up 7 Retail from five before the
80,000 square feet
Glass added to create the new airport design, or enough to cover 1 and 1/2 football fields.
114 miles Length of cable installed for data, voice and security â&#x20AC;&#x201D; that's enough to stretch from Charleston to Columbia.
renovation.
21
Nonstop flights at CHS, going to 16 cities.
Source: Charleston County Aviation Authority
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71
National Park Service visitor data, 2016 South Carolina’s six national park sites had a combined economic output of nearly $120 million last year, according to a report from the National Park Service. About 1.7 million people visited the parks and spent about $93.5 million in the state. That spending supported more than 1,400 jobs.
Fort Sumter
National Parks, Ranked by Recreation Visits Fort Sumter National Monument, Charleston Harbor
888,331
$51,939,500
786
$65,506,600
tallied the most visits in the state with more than 888,000 and the most visitor spending at nearly $52 million.
Kings Mountain National Military Park, Blacksburg
263,357
$10,527,900
166
$14,073,900
Cowpens National Battlefield, Chesnee
213,299
$13,734,200
216
$18,682,200
Congaree National Park, Hopkins
143,843
$7,307,300
101
$8,529,800
Ninety Six National Historic Site, Ninety Six
118,002
$6,899,500
109
$8,820,900
Charles Pinckney National Historic Site, Mount Pleasant
53,184
$3,109,600
48
$3,913,100
National Monument
Recreation Visits Visitor Spending Jobs Supported Economic Output
Source: National Park Service
Connected in the great outdoors Charleston County Parks opens newest facility, SK8 Charleston An initial community grant from Google started the Charleston Free Wi-Fi initiative, bringing free internet access to Marion Square. Since that time, a number of public and private entities have financially supported its expansion. If you find yourself in one of the parks listed below, connect to the wireless network named “CharlestonFreeWifi.”
Public parks with free Wi-Fi Listed by the date Wi-Fi became available
1.
Marion Square
Downtown Charleston | Feb. 29, 2012
7. White Point Garden
Downtown Charleston | July 14, 2015
2. Governor’s Park
8. Riverfront Park
3. Waterfront Park
9. Harmon Field
4. Mitchell Playground
10. Moncks Corner Regional Recreation Complex
Daniel Island | July 31, 2012 Downtown Charleston | May 10, 2013 Mitchell Elementary School | June 3, 2014
5. Corrine Jones Park
Wagener Terrace | June 4, 2014
6. Magnolia Park and Community Garden
West Ashley | July 31, 2014
Mark Otis Smith performs a backside ollie on the tombstone. (Photo/Steve Aycock)
North Charleston | Oct. 21, 2015 Downtown Charleston | Feb. 16, 2016
11. Hampton Park
• 32,500 square feet designed and built by Team Pain Skate Parks.
12. Colonial Lake
• 200+ foot long snake run funnels down into a 9-foot deep pocket.
Moncks Corner | April 1, 2016 Downtown Charleston | Oct. 16, 2014
Downtown Charleston | Oct. 20, 2016
• Pro Bowl with a 11.5-foot deep end (18 inches of vert), an 8-foot deep side pocket (6 inches of vert) and a 6-foot deep shallow end. • Intermediate Bowl with a 7-foot deep end and a 5-foot shallow end.
Photo/Tucker Mas on
• Street course over 315 feet long. Source: Charleston Digital Cooridor Foundation, www.chsfreewifi.com
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HOSPITALITY AND TOURISM | www.charlestonbusiness.com
Source: Charleston County Parks
Charlestonâ&#x20AC;&#x2122;s wedding economy 2016 weddings in the Charleston metro area
$28,603 Average wedding cost
$158
6,847
Number of weddings
$197 million Amount spent
$487
Average limousine rental
$215
$1,264
Average spent on brideâ&#x20AC;&#x2122;s dress
$3,637
Average spent on bridal bouquet
Average spent on tuxedo rental
Average spent on event location
$4,709
$422
$1,615
Average spent on event food service
Average spent on wedding cake
Average spent on wedding photographer Source: The Wedding Report Inc., 2017
www.charlestonbusiness.com | HOSPITALITY AND TOURISM
73
Total Tri-county lodging sales Hotel rooms added on the – Charleston County
– Berkeley County
Peninsula of Charleston
– Dorchester County
- Hotel rooms added
- Estimated number of hotel rooms to be added
THE TREND:
MORE ROOMS, MORE DEMAND
$874M
$614M
$679M
$740M
Even as the number of hotel rooms continues to increase, the occupancy rate continues to rise.
$787M
2015
2014
85.9%
2015
2016
0
0
2011
2012
2013
180
2014
Source: College of Charleston Office of Tourism Analysis
Comparison of hotel market trends in the Charleston area 176,858
Room nights sold, 2016
109,810 55,624
42,206
Peninsula
West Ashley
North Charleston
East Cooper
Average daily rate, 2016 $226.37
Peninsula
74
352 350
83.6%
139
2013
400
AVERAGE OCCUPANY RATE ON THE PENINSULA
2016
2012
451
150
2015
2018
2019
S.C. Airbnb hosts earnings, 2016
City
2016 Guest Total 2016 Arrivals Host Income
Charleston
77,900 $14.1 Million
Myrtle Beach
21,700
$3.1 Million
Hilton Head Island
15,500
$3 Million
Mount Pleasant
14,000
$2.1 Million
Greenville
10,200
$1.2 Million
Folly Beach
9,200
$1.9 Million
North Myrtle Beach
9,100
$1.3 Million
North Charleston
6,000
$631,000
Columbia
5,800 $722,000
Isle of Palms
3,700
Beaufort
3,300 $437,000
Bluffton
2,000 $336,000
Summerville
1,800 $243,000
Pawleys Island
1,600
$250,000
Kiawah Island
1,500
$460,000
Murrells Inlet
1,400
$220,000
Rock Hill
1,400
$154,000 $251,000
$902,000
$119.83
$126.68
Seabrook Island
1,200
Hanahan
1,200 $90,000
West Ashley
North Charleston
East Cooper
Anderson
1,100 $131,000
HOSPITALITY AND TOURISM | www.charlestonbusiness.com
2017
Source: City of Charleston, 2016 Peninsula Hotel Study
$126.27
Source: City of Charleston, 2016 Peninsula Hotel Study
2016
Totals
189,600 $31.5 million
BEHIND THE NUMBERS:
AIRBNB IS CURRENTLY ILLEGAL IN THE CITY OF CHARLESTON Despite leading South Carolina in number of visitors and host income, Charleston does not allow Airbnb in the city. An 18-member task force comprised of six members appointed by Mayor John Tecklenburg and 12 picked by Charleston City Council is studying the impact short-term rentals might have on the city. MAXIMUM PENALITIES FOR VIOLATING THE ORDINANCE ON SHORT-TERM RENTALS
$1,092 IN FINES OR
30 DAYS IN JAIL
Source: Airbnb.com
Medical and Health Care South Carolina and the Charleston metro area continue to struggle with health care issues and persistent medical challenges such as heart disease, cancer, diabetes and access to prenatal care. Even with improvement in several areas, the state consistently ranks low in health, which pushes medical professionals and insurance providers along with business and industry to support efforts to move trends in a positive direction.
FAST FACTS
42
22.3%
South Carolina ranks low among 50 states
Percentage of adults in Charleston region
in national health outcomes.
reporting no leisure physical activity.
PAGE 79
PAGE 78
SECTION SPONSOR
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MEDICAL AND HEALTH CARE | www.charlestonbusiness.com
CHARLESTON AREA
HEALTH FACTORS RANKINGS Health factors ranking: Clinical Care
Health factors ranking: Health Behaviors
Ranking out of 46 counties, higher number equals poorer health outcomes
Ranking out of 46 counties, higher number equals poorer health outcomes
1
Charleston
7
Dorchester
10
Berkeley
Number of hospital stays for ambulatory-care sensitive conditions per 1,000 Medicare enrollees
52 46 32
Dorchester Berkeley Charleston
5
Berkeley
Charleston
9
Dorchester
Percentage of adults age 20 and over reporting no leisure-time physical activity
24%
Berkeley
23% Dorchester
20% Charleston
Health factors ranking: Social & Economic
Health factors ranking: Physical Environment
Ranking out of 46 counties, higher number equals poorer health outcomes
Ranking out of 46 counties, higher number equals poorer health outcomes
3
Dorchester
4
Berkeley
6
Charleston
Number of reported violent crime offenses per 100,000 population
411
Charleston
407
Dorchester
MEDICAL AND HEALTH CARE | www.charlestonbusiness.com
7
Charleston
10
Berkeley
12
Dorchester
Among workers who commute in their car alone, the percentage that commute more than 30 minutes
335
78
6
Berkeley
47%
41%
Dorchester
Berkeley
30% Charleston
Source: County Health Rankings & Roadmaps
SOUTH CAROLINA’S
42
Overall Health Ranking
Numbers show S.C.’s rankings among 50 states; No. 1 is best, 50 is worst. Obesity has improved, and infant mortality has decreased.
2014
2015
2016
50 40 30 20 10 0 r
ce
n Ca
s ath de C
ova i d ar
hs eat
rd
la scu
ult
Ad
h wit
s ete b ia
0
d
0 1,0 r e s p rths h t i a de live b t n
a Inf
lts
es Ob
du ea
h k n hig h rin t l rso 6 i d o c e s i r w l e p e s ub per n 201 le ation ing p ult olest b b a d i z n t t li i o A ch 03 spen care wh venspita . e s 5 t r P ho ul $6 oney ealth Source: County Health Ad m on h Rankings & Roadmaps
www.charlestonbusiness.com | MEDICAL AND HEALTH CARE
79
Tri-County Health Landscape â&#x20AC;&#x201C; 2016 Community Health Needs Assessment The Tri-County Health Landscape is the official community report of the data and analysis from the 2016 Community Health Needs Assessment. The CHNA was conducted as a collaborative effort of Roper St. Francis Healthcare, MUSC Health and Trident United Way for Berkeley, Charleston and Dorchester counties in coastal South Carolina.
To view the full report go to http://www.tuw.org/2016-community-health-needs-assessment-now-available
Health Accessibility Factors in the Tri-County, 2016 BERKELEY COUNTY
CHARLESTON DORCHESTER COUNTY COUNTY
SOUTH CAROLINA
NATIONAL
% Uninsured
18%
19%
17%
19%
17%
% Uninsured Adults
23%
23%
21%
23%
20%
8%
7%
7%
7%
8%
2,900:1
780:1
2,460:1
1,500:1
1,410:1
% Uninsured Children Primary Care Physicians Ratio
Mental Health
In 2015, The Kaiser Family Foundation estimated the impact of not expanding Medicaid in South Carolina resulted in an additional 123,000 uninsured people.
Obesity/Nutrition/Physical Activity
10-13%
According to outpatient forecasters, by 2021, psychoses and other mental health disorder visits are expected to increase 10% to 13% in Berkeley and Dorchester counties, while increasing by 4% to 5% in Charleston County.
32% of adults
4-5%
in South Carolina are considered obese.
Ratio of Mental Health Providers by County, 2016
37%
31%
25%
Charleston (25%) and Dorchester (31%) counties fared slightly better, but Berkeley County, at 37%, exceeded the state rate of 32%.
1,261:1
Berkeley
Diabetes Prevalence
320:1
Charleston
798:1
Dorchester
650:1
South Carolina
SPOTLIGH T
Access to m ental health services is se verely limited in Ber keley and Dorchester counties.
Berkeley
10%
Charleston Dorchester
Food Insecurity
National
Dorchester
10% 12% 10%
490:1
National
14%
Charleston
11%
South Carolina
Berkeley
16% 14%
South Carolina National
17% 15%
Birth Weight and Prenatal Care Outcomes by County, 2014 Berkeley County
Charleston County
Dorchester County
South Carolina
National
** Rate per 1,000 births
Rates per 100 births
90.0
67.5
45.0
22.5
0
80
Low Birth Weight
Preterm Births
MEDICAL AND HEALTH CARE | www.charlestonbusiness.com
Adequate prenatal care
Infant Mortality Rate** Source: Tri-County Health Landscape - 2016 Community Health Needs Assessment
BUYING THE AFFORDABLE CARE ACT
32+68
South Carolina figures for the November 2016 - January 2017 enrollment period
230,211
TOTAL MARKETPLACE USERS
88%
RECEIVING ADVANCE PREMIUM TAX CREDITS
68%
RE-ENROLLEES
32%
NEW CUSTOMERS
70%
RECEIVING COST SHARING REDUCTIONS Source: Kaiser Family Foundation State Marketplace Statistics
www.charlestonbusiness.com | MEDICAL AND HEALTH CARE
81
Business Resources and Government A variety of organizations, government agencies and educational institutions provide information for industrial growth, entrepreneurship and doing business among specific sectors and in different counties and communities. A lot of information found in Market Facts comes from these agencies after being distilled to the most comparative data for the Charleston metro region. Direct help can be found by contacting these organizations, which are dedicated to providing avenues for businesses to locate and expand throughout the region and state by offering reliable information and advice.
FAST FACTS
45
$56,000
Number of residents added to the region
Median household income in 2015 in the
each day, with a median age of 36.
region, up from $44,000 a decade ago.
CHARLESTON REGIONAL DEVELOPMENT ALLIANCE
CHARLESTON REGIONAL COMPETITIVENESS CENTER
SECTION SPONSOR
82
BUSINESS RESOURCES | www.charlestonbusiness.com
CHAMBERS OF COMMERCE Berkeley Chamber of Commerce
1004 U.S. Highway 52 Moncks Corner, SC 29461 843-761-8238 www.berkeleysc.org Oversees the needs of more than 500 members in Berkeley County and surrounding communities, serving as the county’s leading resource for information while providing community and business leaders opportunities to become involved in shaping the future of the region.
Charleston Metro Chamber of Commerce
4500 Leeds Ave., Suite 100 North Charleston, SC 29405 843-577-2510 www.charlestonchamber.net Serves to strengthen the region as the world’s best location to live, learn, work and play; while advancing the region’s economy, improving quality of life and enhancing the members’ success.
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Edisto Chamber of Commerce
430 Highway 174 PO Box 206 Edisto Island, SC 29438 843-869-3867 www.edistochamber.com Supports our membership by promoting member businesses in our community and to the tourism industry. We represent our member’s voice in our local government while helping our members grow by providing and sharing resources, leads, referrals, and networking opportunities.
Greater Summerville Dorchester County Chamber of Commerce
402 N. Main St. Summerville, SC 29483 843-873-2931 www.greatersummerville.org Protects and promotes the quality of life in the community, with specific emphasis on improving economic vitality and providing a favorable business climate.
BUSINESS RESOURCES AND GOVERNMENT | www.charlestonbusiness.com
Mount Pleasant Chamber of Commerce
P.O. Box 1635 Mount Pleasant, SC 29465 mountpleasantbusiness.com Encouraging business and community success East of the Cooper.
North Charleston Chamber of Commerce
7679 Dorchester Road, Suite 400 North Charleston, SC 29418 www.northcharlestonchamber.org The Chamber is a catalyst for the economic growth of our members and the community through education; exchanging ideas and information; sharing experiences and solutions; networking and recognition.
S.C. African American Chamber of Commerce
3400 Forest Drive Columbia, SC 29204 803-661-2977 www.scachamber.com An advocate for prosperity, progress and the permeation of success throughout the state as it relates to African American businesses.
S.C. Chamber of Commerce
1301 Gervais St., Suite 1100 Columbia, SC 29201 803-799-4601 www.scchamber.net The chamber creates prosperity for all citizens through an economy of increased productivity and global competitiveness.
S.C. Hispanic Chamber of Commerce
714 Pettigru St., Suite C Greenville SC 29601 864-643-7261 www.schcc.org Promotes and supports the advancement of the economic growth of Hispanic businesses in South Carolina and is committed to the development of programs and the facilitation of the resources needed to help Hispanic Businesses to reach their full potential.
S.C. Small Business Chamber of Commerce
1717 Gervais St. Columbia, SC 29201 803-252-5733 www.scsbc.org A statewide advocacy organization
working to make state government more small business friendly.
Sea Islands Chamber of Commerce
2817 Maybank Highway, Unit 1 Johns Island, SC 29455 843-793-1234 www.seaislandschamber.org Promote the economic growth and quality of life in the Sea Islands area; striving to provide a clear, persuasive voice for the business community in governmental affairs on federal, state, county and local levels. Provides services designed to enable the public and private sectors to improve productivity and promotes the Sea Islands area as an economic, educational and recreation center while providing membership services and networking opportunities for its members.
Tri-County Regional Chamber of Commerce
225 Parler Ave. St. George, SC 29477 843-563-8187 www.tri-crcc.com Dedicated to serving its members and communities by taking a proactive role in improving the general welfare, prosperity, and quality of life for all citizens of the Tri-County Regional Chamber of Commerce area; will seek to accomplish its mission by focusing particular attention and emphasis on advancing and stimulating economic, commercial, agricultural, and industrial growth and development, promoting tourism, providing quality education and advancing civic and cultural interests.
ECONOMIC DEVELOPMENT Berkeley County Economic Development Department
1003 Highway 52 Moncks Corner, SC 29461 843-719-4096 www.berkeleycountysc.gov The Berkeley County Economic Department strives to attain a comprehensive economic development program directed toward economically sustainable and environmentally responsible opportunities.
Business Development Corporation of S.C.
111 Executive Center Drive Enoree Building, Suite 225 Columbia, South Carolina 29210 803-798-4064 www.businessdevelopment.org Established in 1958 by the state Legislature to promote business and industry within South Carolina, the BDC is a non-bank commercial lending company specializing in the SBA 7(a) loan guaranty program. Certified Development Corp. of S.C., an affiliated corporation, provides financial assistance to businesses.
Charleston Digital Corridor
475-A East Bay St. Charleston, SC 29403 843-724-3773 www.charlestondigitalcorridor.com Utilizes a creative effort to attract, nurture and promote Charleston’s tech economy through a combination of technology-enabled initiatives and business incentives, private business support and member-driven programming.
Charleston Regional Development Alliance
4401 Belle Oaks Drive, Suite 420 North Charleston, SC 29405 843-767-9300 www.crda.org A full-service professional economic development organization representing Berkeley, Charleston and Dorchester counties, serving as a confidential resource to help streamline the site selection process, assisting companies with issues such as buildings and sites, financing and workforce training.
The Citadel Small Business Development Center
171 Moultrie St. Charleston, SC 29406 843-953-2155 www.citadel.edu The Small Business Development Center, a counseling partner of the U.S. Small Business Administration, helps people with small business start-up ventures and assists in the continued growth of small businesses with funding from federal, state and private funds. Counseling services are free, confidential and open to any present or prospective small business owner.
Clemson Institute for Economic and Community Development
900 Clemson Road Columbia, SC 29229 803-788-5700 www.clemson.edu Connects the resources of Clemson University and other agencies to the needs of SC communities for community outreach, institute initiatives and research. The goal of CIECD is to develop and support leadership development programs for communities that enable and empower wealth creation, foster result-oriented collaboration for building the capacity for community and economic development, provide cutting edge research-based information for community decision-making. Provides critical conceptualization and visioning facilitation to communities, support environmental sustainability through training and information sharing with partners and communities, establish a methodology for involving undergraduate and graduate students in CIECD and Sandhill programs as well as county extension offices and provide primary and applied research to communities address issues related to growth.
College of Charleston Office of Economic Analysis
66 George St. Charleston, SC 29424 843-953-8111 sb.coc.edu Part of the School of Business Partnership Program which links academic programs with key segments of the Lowcountry economy. Provides objective analysis and interpretation of economic data and trends in the international, nation, regional and local economy.
Dorchester County Economic Development
402 N. Main St. Summerville, SC 29483 843-875-9109 www.dorchesterforbusiness.com Dorchester County Economic Development is responsible for growing and retaining business in Dorchester County. Its mission is to work to create and support an environment that welcomes business and helps companies to grow and succeed over the long-term.
Lowcountry Housing & Economic Development Foundation
2106 Mount Pleasant St. Charleston, SC 29403 843-722-0596 www.lowcountryhousingfoundation.org Founded in 1997 and organized as a 501(c)3 tax exempt organization, it’s mission is to provide housing and economic development opportunities for the low to moderate-income families of Coastal South Carolina through economic development, home ownership, housing rehabilitation, job preparation and financial management training services.
South Carolina Council on Competitiveness
1411 Gervais St., Suite 450 Columbia, SC 29201 803-760-1400 sccompetes.org A business-led, non-profit organization, advancing the long-term economic competitiveness of our state, industries and citizens. Our work is accomplished through actionable economic research, support of industry clusters and education and workforce initiatives. We execute our work through partnerships recognizing that our state’s economic success is secured through sustained collaboration among the private, public, academic and non-profit sectors
North Charleston Department of Economic Development
2500 City Hall Lane North Charleston, SC 29406 843-554-5700 www.northcharleston.org North Charleston is dedicated to providing resources necessary to help business get from where they are to where they want to be. Drawing on the strength of increasing numbers of public/private partnerships, North Charleston provides infrastructure, a well-trained workforce, support services and financial resources to help businesses succeed.
www.charlestonbusiness.com | BUSINESS RESOURCES AND GOVERNMENT
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Our Region Our Plan/ BCD Council of Governments
1362 McMillan Ave., Suite 100 Charleston, SC 29405 843-529-0400 Promotes thinking and decision-making on a regional scale to address shared concerns and realize common goals and raises public awareness of issues and opportunities important to the economic health and quality of life in the region.
The Palmetto Institute
1411 Gervais St., Suite 450 Columbia, SC 29201 803-806-8106 www.palmettoinstitute.org An independent, nonprofit, nonpartisan research and educational organization that addresses state and regional public policy issues, conducts research on topics that will affect future development, promotes positive economic change within South Carolina and disseminates research findings and conclusions both to scholarly and lay audiences.
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S.C. Association for Community Economic Development
P.O. Box 20577 Charleston, SC 29413 843-579-9855 www.communitydevelopmentsc.org A statewide trade association of nonprofit, community-based development corporations within the state’s economically distressed communities. The association’s primary focus is to build the capacity of local community development corporations through grass-roots leadership development, access to capital, advocacy and technical assistance.
S.C. Centers for Economic Excellence
smartstatesc.org Spearheads the SmartState Program which serves the public interest by creating incentives for the state’s research universities, in cooperation with other institutions of higher education, to raise capital from nonstate sources to fund endowments for specialized research professorships which, in turn, cultivates critical, publicprivate industrial partnerships, expands
BUSINESS RESOURCES AND GOVERNMENT | www.charlestonbusiness.com
the state’s knowledge base, create wellpaying jobs and enhances economic opportunities and improves the quality of life for the people of South Carolina.
S.C. Economic Developers’ Association
P.O. Box 1763 Columbia, SC 29202 803-929-0305 www.sceda.org A statewide association of more than 600 member organization whose primary objective is to increase the effectiveness of those involved in economic development in South Carolina.
S.C. Jobs - Economic Development Authority
1201 Main St., Suite 1600 Columbia, SC 29201 803-737-0268 www.scjeda.com Develops the business and economic welfare of South Carolina through loans, investments and the financial promotion of the export of goods and services produced within the state.
SC Launch
315 Sigma Drive Summerville, SC 29486 843-760-5893 www.scra.org SC Launch is the flagship program of SCRA Technology Ventures sector that enables research commercialization and promotes the development of high tech industries, enhancing South Carolina’s technology-based economy. SC Launch investments in and offers support services to South Carolina’s early stage, start-up technology companies.
Sewee to Santee Economic Foundation Inc.
405 Pinckney St. McClellanville, SC 29458-0026 843-887-4453 Serves to promote economic growth while preserving rural heritage.
Trident Technical College Division of Continuing Education and Economic Development 7000 Rivers Ave. North Charleston, SC 29406 843-574-6152 www.tridenttech.edu Serves as a catalyst for personal, community and economic development by empowering individuals through education and training.
University of South Carolina Division of Research
Darla Moore School of Business University of South Carolina 1014 Greene St. Columbia, SC 29208 803-777-3176 www.moore.sc.edu The division reaches beyond the academic environment into public and private sectors of the state of South Carolina by conducting applied practical research on timely business and economic topics and serves as a center of expertise on issues associated with the state’s economy.
Charleston County Economic Development
4000 Faber Place Drive, Suite 200 North Charleston, SC 29405 843-958-4511 www.charlestoncountydevelopment.com Dedicated to recruiting new businesses, growing existing industry and improving the Charleston business climate.
FINANCIAL ASSISTANCE Business Development Corp. of S.C. 111 Executive Center Drive Enoree Building, Suite 225 Columbia, SC 29210 803-798-4064 www.businessdevelopment.org A non-bank commercial lending company established in 1958 by the state Legislature to promote business and industry within the state. It specializes in the SBA 7(a) loan guaranty program. Certified Development Corp. of S.C., an affiliated corporation, has participated in providing financial assistance to businesses since 1994. Certified Development specializes in SBA 504 debenture financing, limited to the state of South Carolina.
88
Charleston Angel Partners
5 Liberty St. Charleston, SC 29401 843-478-7483 www.chapsc.com Founded in 2004, Charleston Angel Partners is the area’s longest-tenured, most established angel investment group. The top priority of Charleston Angel Partners is to make investing simple and profitable, both for investors and for entrepreneurs. Charleston Angel Partners believes that meaningful economic impact happens when great people support great ideas. Investing in innovation will accelerate Charleston and the Southeast into the future, creating an environment of aspiration and excitement.
Charleston Local Development Corp.
2 George St., Suite 3600 Charleston, SC 29401 843-973-7298 www.charlestonldc.com Provides small business loans and counseling (technical assistance) for small businesses that are unable to secure traditional bank financing in the greater Charleston region, including Berkeley, Charleston, Colleton and Dorchester Counties.
Mortgage Bankers Association of the Carolinas Inc.
P.O. Box 2588 Mount Pleasant, SC 29465 704-557-0204 www.mbac.org Represents companies that participate in the mortgage lending industry within North and South Carolina. Members include residential and commercial mortgage bankers, mortgage brokers, wholesale lenders, savings and loan associations, commercial banks, credit unions, government agencies, nonprofit organizations and companies that provide affiliated services to mortgage bankers. Members can receive legislative representation, education and training, networking, information resources and other benefits. Consumers can learn about the process of obtaining a mortgage loan, receive answers to mortgage-related questions, verify whether a lender is a member or receive assistance in resolving disputes with lenders and affiliates.
BUSINESS RESOURCES AND GOVERNMENT | www.charlestonbusiness.com
HUMAN RESOURCES City of Charleston Department of Human Resources and Organizational Development
75 Calhoun St., Suite 3600 Charleston, SC 29401 843-724-7388 www.charleston-sc.gov Responsible for the implementation of the personnel system for city employees and the position classification plan of the city, class specifications of the City, allocation lists and the personnel policies and procedures including fringe benefits, conditions of employment, salaries and employee grievances.
Employers Association of South Carolina Inc.
104 Corporate Blvd., Suite 408 West Columbia, SC 29169 803-783-0368 www.eascinc.com Provides statewide human resource, supervisory and management development training including guidance and information on compensation packages, human resource policies and practices, labor relations, development of employee handbooks, consulting and training and affinity programs. It also offers an online learning center with over 6,000 courses available.
S.C. Department of Employment and Workforce
1550 Gadsden St. P.O. Box 995 Columbia, SC 29202 803-737-2400 www.dew.sc.gov Maintains a statewide network of employment service offices which offer testing, counseling and job referrals and assist employers in filling jobs quickly with qualified personnel. Also administers unemployment benefits. All employment services are free to the public. The Labor Market Information department provides a database on industries, employers, population, income, occupations and other information.
S.C. Human Resources Division
8301 Parklane Road, Suite A220 Columbia, SC 29223 803-896-5300 www.admin.sc.gov A statewide government entity specializing in employee and employer services, career opportunities, training and development and workforce planning for government jobs in the state of South Carolina.
S.C. Occupational Information System
1550 Gadsden St. P.O. Box 995 Columbia, SC 29202 800-264-9038 www.scois.net A collaboration among 11 state agencies to coordinate the state’s computer-based career information delivery system. It provides essential data on careers, salaries, scholarships, education and job opportunities, such as military, apprenticeships and post-secondary, trade and vocational programs.
S.C. Society for Human Resource Management – Tri-county Chapter P.O. Box 62722 North Charleston, SC 29419 843-819-5129 tchrma.shrm.org Promotes the educational and professional development resources and services of the society; adopts programs to promote the progress, visibility and welfare of the group and its members in the human resources profession, including leadership training and succession planning; and provides programs and services to chapter members.
S.C. Workers’ Compensation Commission
1333 Main St., Suite 500 P.O. Box 1715 Columbia, SC 29202-1715 803-737-5700 www.wcc.sc.gov The mission of this agency is to provide an equitable and timely system of benefits to injured workers and employers in the most responsive, accurate and reliable manner possible.
MISCELLANEOUS BUSINESS DIRECTORY Business Trademarks & Patents U.S. Patent & Trademark Office Madison Building, 600 Dulany St. Alexandria, VA 22314 Customer Service: 571-272-1000 www.uspto.gov State Assistance: S.C. Secretary of State 1205 Pendleton St., Suite 525 Columbia, SC 29201 803-734-2170 www.scsos.com
Bar-coding & Universal Product Code (UPC)
GS1 US Princeton Pike Corporate Center 1009 Lenox Drive, Suite 202 Lawrenceville, NJ 08648 609-620-0200 www.gs1us.org
Carolinas-Virginia Minority Supplier Development Council
9115 Harris Corners Parkway, Suite 440 Charlotte, NC 28269 704-549-1000 www.cvmsdc.org
Charleston American Marketing Association
Coastal Community Foundation
Charleston Defense Contractors Association (CDCA)
U.S. Copyright Office
Charleston Trident Association of Realtors
Lowcountry Local First
P.O. Box 20885 Charleston, SC 29403 www.charlestonama.org
P.O. Box 61089 Charleston, SC 29419 www.charlestondca.org
5006 Wetland Crossing Drive North Charleston, SC 29418 843-760-9400 www.charlestonrealtors.com
Charleston Home Builders Association (CHBA) 3251 Landmark Drive, Suite 141 Charleston, SC 29418 843-572-1414 www.hbacharleston.com
Charleston Women in International Trade P.O. Box 20145 Charleston, SC 29413 www.cwitsc.org
635 Rutledge Ave., Suite 201 Charleston, SC 29403 843-723-3635 www.coastalcommunityfoundation.org
101 Independence Ave. S.E. Washington, DC 20559-6000 877-476-0778 www.copyright.gov
1630 Meeting Street Road, Bldg. 2 Charleston, SC 29405 843-801-3390 www.lowcountrylocalfirst.org
Mount Pleasant Business Association
P.O. Box 1635 Mount Pleasant, SC 29465-1635 www.mountpleasantbusiness.com
S.C. Association of CPAs
S.C. Association of Nonprofit Organizations (SCANPO)
400 Arbor Lake Drive, Suite B-500 Columbia, SC 29223 803-929-0399 www.scanpo.org
S.C. Bar Association 950 Taylor St. Columbia, SC 29201 803-799-6653 www.scbar.org
S.C. Broadcasters Association 1 Harbison Way, Suite 112 Columbia, SC 29212 803-732-1186 www.scba.net
S.C. Department of Health and Environmental Control
2600 Bull St. Columbia, SC 29201 803-898-3432 www.scdhec.gov
1300 12th St., Suite D Cayce, SC 29033 803-791-4181 www.scacpa.org
www.charlestonbusiness.com | BUSINESS RESOURCES AND GOVERNMENT
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S.C. Department of Labor, Licensing and Regulation
Synergy Business Park, Kingstree Building 110 Centerview Drive Columbia, SC 29210 803-896-4300 www.llr.state.sc.us
S.C. Hospital Association 1000 Center Point Road Columbia, SC 29210 803-796-3080 www.scha.org
S.C. Restaurant and Lodging Association 1122 Lady St. Suite, 1210 Columbia, SC 29201 803-765-9000 www.scrla.org
S.C. Society of Professional Engineers P.O. Box 11937 Columbia, SC 29211-1937 803-771-4271 www.scspe.org
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Trident United Way
6296 Rivers Ave. North Charleston, SC 29406 843-740-9000 www.tuw.org
TECHNOLOGY Association of Information Technology Professionals â&#x20AC;&#x201C; Charleston
AITP-Charleston P.O. Box 61225 Charleston, SC 29419-1225 www.aitp.org/members/group_content_ view.asp?group=73580&id=136410 Serves members by delivering relevant technology and leadership education, research and information on current business and technology issues and presents forums for networking and collaboration.
Charleston Digital Corridor
475-A East Bay St. Charleston, SC 29403 843-724-3773 www.charlestondigitalcorridor.com A creative effort by the city of Charleston to attract, nurture and grow knowledge-
BUSINESS RESOURCES AND GOVERNMENT | www.charlestonbusiness.com
based enterprises. In partnership with regional economic development agencies, communication infrastructure providers and the private sector, the corridorâ&#x20AC;&#x2122;s commitment is to facilitate an environment where technology companies thrive.
Information Technology Professionals of South Carolina
P.O. Box 1124 Columbia, SC 29202 www.itpsc.org Provides a forum for members to exchange information and concepts to the mutual benefit of member companies and individuals. Encourages and assists in the education of member company representatives and individuals through seminars, conferences, newsletters and special reports or presentations. Presents a unified position on information and telecommunication technology matters, policies legislative and regulatory issues and supports public and private educational institutions offering curriculums in information and telecommunications technology.
Municipal Technology Association of S.C.
1411 Gervais St. P.O. Box 12109 Columbia, SC 29211 803-799-9574 www.masc.sc/programs/knowledge/ affiliates/Pages/Technology.aspx Promotes the effective use of information technology by municipalities throughout South Carolina and offers members access to list serves and training on how to provide better services and achieve greater efficiencies using the latest technological innovations for municipal government.
S.C. Assistive Technology Program
Midlands Center 8301 Farrow Road Columbia, SC 29203 803-935-5263 www.sc.edu/scatp/ A federally funded program concerned with getting technology into the hands of people with disabilities. A part of the national network of technology-related assistance programs, its goal is to enhance independence, productivity and
quality of life for all South Carolinians through access to assistive technology devices and services.
delivers cost effective services for citizens, businesses and government organizations.
S.C. Association for Educational Technology (SCAET)
S.C. Information Technology Directors Association
P.O. Box 7907 Columbia, SC 29202 www.scaet.org A nonprofit association serving to promote the innovative, intelligent and responsible use of technology in the enhancement of education. Organizes and produces the South Carolina Educational Technology Conference and established and supports other statewide forums for sharing ideas, information and resources in the use of educational technology.
S.C. Division of State Information Technology
4430 Broad River Road Columbia, SC 29210 803-896-0001 www.admin.sc.gov/technology A statewide government agency that facilitates government services in South Carolina by coordinating enterprise technology investment and providing information technology solutions. Also
P. O. Box 12366 Columbia, SC 29211-2366 803-734-9059 www.scitda.org A collaboration of technology to benefit South Carolinaâ&#x20AC;&#x2122;s agencies and the citizens of the state. Provides a medium for the exchange of information pertinent to the management of State information technology facilities, provides a consolidation of experience, knowledge and interest in improving information technology, administration and management and serves as an instrument for the dissemination of information relating to information technology in the state.
SCRA
315 Sigma Drive Summerville, SC 29486 843-760-3200 www.scra.org Dedicated to stimulating economic growth through science and technology,
as well as provides leadership to create innovative solutions through advanced technology that enhances customersâ&#x20AC;&#x2122; performance. SCRA was started by the SC Legislature under a public charter to help develop technology-based industries in the state. It is a nonstock, tax-exempt applied research corporation. Technology ventures help early-stage, South Carolina-based technology companies grow their business and commercial their products. Applied research and development creates and leads teams from many industries, organizations and disciplines to develop and apply technology solutions to complex challenges for federal and corporate clients. Research and development facilities build, manage and lease state-of-the-art laboratories, advanced manufacturing facilities and secure spaces for sensitive work.
S.C. Technology Alliance
1201 Main St., Suite 2010 Columbia, SC 29201 803-748-1323 www.sctech.org Established to help prepare a technology-capable workforce, create a business environment friendly to
technology-intensive companies, invest to expand the base of rapidly growing companies and startup businesses, and invest in world-class university research programs that are directly linked to South Carolina industry.
SPAWAR
P.O. Box 190022 North Charleston, SC 29419-9022 843-218-4000 www.public.navy.mil/spawar/Pages/ default.aspx A division of the Department of Navy, SPAWAR delivers higher-end Navy information technology products and services to fleet and other Defense Department stakeholders. As the Navyâ&#x20AC;&#x2122;s Information Dominance Systems Command, Space and Naval Warfare Systems command designs, develops and deploys advanced communications and information capabilities. Supports the full lifecycle of product and service delivery from the initial research and development, to acquisition and deployment and operations and logistics support.
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Legislative representatives S.C. Governor Henry D. McMaster 1100 Gervais St. Columbia, SC 29201 803-734-2100 www.governor.sc.gov S.C. Lieutenant Governor Kevin L. Bryant State House, First Floor P.O. Box 142 Columbia, SC 29202 803-734-2080 www.ltgov.sc.gov
U.S. SENATE Lindsey Graham (R) 290 Russell Senate Office Building Washington, DC 20510 202-224-5972 www.lgraham.senate.gov Local office: 530 Johnnie Dodds Blvd., Suite 202 Mount Pleasant, SC 29464 843-849-3887 Tim Scott (R) 717 Hart Senate Office Building Washington, DC 20510 202-224-6121 www.scott.senate.gov Local office: 2500 City Hall Lane, 3rd Floor Suite North Charleston, SC 29406 843-727-4525
U.S. HOUSE OF REPRESENTATIVES Mark Sanford (R) 1st Congressional District – Portions of Beaufort, Berkeley, Charleston, Colleton, and Dorchester counties. 2201 Rayburn House Office Building Washington, DC 20515-4001 202-225-3176 sanford.house.gov Local office : 530 Johnnie Dodds Blvd., Suite 201 Mount Pleasant, SC 29464 843-352-7572
STATE SENATE
Ronnie A. Stabb (D) District 32 - Berkeley, Florence, Georgetown, Horry & Williamsburg Co. 504 Gressette Bldg. Columbia, SC 29201
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Stephen L. Goldfinch (R) District 34 - Charleston, Georgetown & Horry Counties 601 Gressette Bldg., Columbia, 29201 803-212-6116 Lawrence K. “Larry” Grooms (R) District 37 - Berkeley & Charleston Counties 203 Gressette Bldg., Columbia, 29201 (803) 212-6400 Sean Bennett (R) District 38 - Berkeley, Charleston & Dorchester Counties 601 Gressette Building Columbia, 29201 803-212-6116 sean@bennettscsenate.com John W. Matthews, Jr. (D) District 39 - Berkeley, Calhoun, Colleton, Dorchester & Orangeburg Counties 613 Gressette Bldg., Columbia, 29201 803-212-6056
STATE HOUSE OF REPRESENTATIVES Samuel Rivers, Jr. (R) District 15 - Berkeley & Charleston Counties 330C Blatt Bldg., Columbia, 29201 803-212-6890 Joseph S. Daning (R) District No. 92 – Berkeley County 310B Blatt Building Columbia, SC 29201 803-734-2951 JoeDaning@schouse.org Katherine E. “Katie” Arrington (R) District No. 94 – Charleston and Dorchester counties 308A Blatt Building Columbia, SC 29201 803-212-6871
Patsy G. Knight (D) District No. 97 – Colleton & Dorchester County Sandy Senn (R) 306B Blatt Building District 41 - Charleston & Dorchester Columbia, SC 29201 Counties 803-734-2960 513 Gressette Bldg., Columbia, 29201 KnightP@schouse.org 803-212-6172 Marlon E. Kimpson (D) District 42 - Charleston & Dorchester Counties 508 Gressette Bldg., Columbia, 29201 803- 212-6132
Christopher J. “Chris” Murphy (R) District No. 98 – Dorchester County 3O8D Blatt Building Columbia, SC 29201 803-212-6925 chrismurphy@schouse.org
George E. “Chip” Campsen III (R) District No. 43 – Berkeley, Charleston, & Colleton Counties 305 Gressette Building Columbia, SC 29201 803-212-6016 Campsen@scsenate.org
James H. “Jim” Merrill (R) District No. 99 – Berkeley and Charleston counties 308C Blatt Building Columbia, SC 29201 803-734-3972 JM1@schouse.org
Paul G. Campbell Jr. (R) District No. 44 – Berkeley, Charleston, & Dorchester Counties 205 Gressette Building Columbia, SC 29201 803-212-6410 PaulCampbell@scsenate.org
Sylleste H. Davis (R) District 100 - Berkeley County 414A Blatt Bldg., Columbia, 29201 803-212-6930
Margie Bright Matthews (D) District No. 45 – Allendale, Beaufort, Charleston, Colleton, Hampton and Jasper counties 613 Gressette Building Columbia, SC 29201 803-212-6056 CCP@scsenate.org
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Joseph H. Jefferson Jr. (D) District No. 102 – Berkeley and Dorchester Counties 304D Blatt Building 803-734-2936 JeffersonJ@schouse.org
Lee Hewett (R) District No. 108 – Charleston and Georgetown counties 327D Blatt Building Columbia, SC 29201 803-212-69270 David J. Mack, III (D) District 109 - Charleston & Dorchester Counties 328D Blatt Bldg., Columbia, 29201 803-734-3192 William Scott Cogswell, Jr. (R) District No. 110 – Berkeley and Charleston counties 330A Blatt Building Columbia, SC 29201 803-212-6950 Wendell G. Gilliard (D) District No. 111 – Charleston County 328A Blatt Building Columbia, SC 29201 803-212-6793 WendellGilliard@schouse.org F. Michael “Mike” Sottile (R) District No. 112 – Charleston County 310A Blatt Building Columbia, SC 29201 803-212-6880 MikeSottile@schouse.org District No. 113 – Charleston and Dorchester Counties VACANT Linda “Lin” Bennett (R) District No. 114 – Charleston and Dorchester counties 414D Blatt Building Columbia, SC 29201 803-212-6948 Peter M. McCoy, Jr. (R) District No. 115 – Charleston County 420D Blatt Building Columbia, SC 29201 803-212-6872 petermccoy@schouse.org Robert L. Brown (D) District No. 116 – Charleston and Colleton counties 330D Blatt Building Columbia, SC 29201 803-734-3170 RLB@schouse.org
William E. “Bill” Crosby (R) District No. 117 – Berkeley and Charleston counties 310D Blatt Building Columbia, SC 29201 803-212-6879 billcrosby@schouse.org Leonidas E. “Leon” Stavrinakis (D) District No. 119 – Charleston County 420C Blatt Building Columbia, SC 29201 803-734-3039 StavL@schouse.org
Constitutional offices Office of the Governor Henry D. McMaster 1100 Gervais St. Columbia, SC 29201 803-734-2100 www.governor.sc.gov Office of the Lieutenant Governor Kevin L. Bryant , Lieutenant Governor State House, First Floor P.O. Box 142 Columbia, SC 29202 803-734-2080 LtGovernor@scstatehouse.gov Attorney General’s Office Alan Wilson, Attorney General Rembert Dennis Building 1000 Assembly St., Room 519 Columbia, SC 29201 803-734-3970 info@scattorneygeneral.com sc.gov
State Treasurer’s Office Curtis M. Loftis, Jr., State Treasurer Wade Hampton Office Building 1200 Senate St. Columbia, SC 29211 803-734-2016 treasurer@sto.sc.gov
S.C. Department of Agriculture Hugh E. Weathers, Commissioner 1200 Senate St. P.O. Box 11280 Columbia, SC 29211 803-734-2190 hweathe@scda.sc.gov
S.C. Comptroller General Richard Eckstrom, Comptroller General 305 Wade Hampton Office Building 1200 Senate St. Columbia, SC 29201 803-734-2121 cgoffice@cg.state.sc.us www.cg.sc.us
Office of the Adjutant General Maj. Gen. Robert E. Livingston, Jr., Adjutant General 1 National Guard Road Columbia, SC 29201-4766 803-806-4217 Robert.livingston@sc.ngb.army.mil www.scguard.com
Secretary of State’s Office Mark Hammond, Secretary of State Edgar Brown Building 1205 Pendleton St., Suite 525 Columbia, SC 29211 803-734-2170 rdaggerhart@sos.sc.gov www.scsos.com
S.C. Department of Commerce Robert M. Hitt, III, Secretary 1201 Main St., Suite 1600 Columbia, SC 29201-3200 803-737-0400 info@sccommerce.com www.sccommerce.com
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Commerce Department Small Business Services Maceo Nance, Director 1201 Main St., Suite 1600 Columbia, SC 29201 803-737-0440 scbiznetwork@sccommerce.com www.sccommerce.com S.C. Department of Employment and Workforce Cheryl Stanton, Executive Director 1550 Gadsden St. P.O. Box 995 Columbia, SC 29202 803-737-2400 www.dew.sc.gov State Superintendent of Education Molly Spearman, Superintendent Rutledge Building 1429 Senate St., Suite 1006 Columbia, SC 29201 803-734-8500 SCSuptED@ed.sc.gov
COUNTY ADMINISTRATION Charleston County Administrator Keith Bustraan Lonnie Hamilton III Public Services Building 4045 Bridge View Drive Charleston, SC 29405 843-958-4000 www.charlestoncounty.org Charleston County Council Herbert Ravenel Sass, III (District 1) 843-766-7500 hsass@charlestoncounty.org Dickie Schweers (District 2) 843-513-9229 dickieschweers@tds.net J. Elliott Summey (District 3) 843-958-4031 esummey@charlestoncounty.org Henry Darby (District 4) 843-297-9014 henrydarby@msn.com Teddie E. Pryor Sr., chairman (District 5) 843-958-4030 tpryor@charlestoncounty.org A. Victor “Vic” Rawl (District 6) 843-766-7334 vrawl@charlestoncounty.org Colleen T. Condon (District 7) 843-225-7288 colleen@colleencondon.com
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Anna B. Johnson (District 8) 843-795-3970 ajohnson@charlestoncounty.org
George Bailey (District 3) 843-563-2314 gbailey@dorchestercounty.net
Joseph K. Qualey (District 9) 843-693-3434 jqualey@charlestoncounty.org
Larry Hargett (District 4) 843-514-7135 lhargett@dorchestercounty.net
Berkeley County Government Phone: 843-719-4234 (Moncks Corner) 843-723-3800 (Charleston) 843-567-3136 (St. Stephen)
Con Chellis (District 5) 843-832-0196 conchellis@allstate.com
Berkeley County Council William W. Peagler, III Chairman and County Supervisor 1003 U.S. Highway 52 Moncks Corner, SC 29461 843-719-4094 bill.peagler@berkeleycountysc.gov www.berkeleycountysc.gov C. Kevin Cox (District 1) 843-998-0443 Joshua Whitley (District 2) 843- 696-9094 Kenneth E. Gunn, Jr., (District 3) 843-499-2244 Tommy Newell (District 4) 843-442-2109 Dennis Fish (District 5) 843-871-9028 Jack H. Schurlknight (District 6) 843-830-1804 Caldwell Pinckney Jr. (District 7) 803-492-3150 Steve C. Davis (District 8) 843-761-7727 Dorchester County Administrator Jason L. Ward, Administrator 201 Johnston St. Kenneth F. Waggoner Building St. George, SC 29477 843-563-0100 www.dorchestercounty.net Dorchester County Council Willie R. Davis (District 1) 843-832-2739 wdavis@dorchestercounty.net David Chinnis (District 2) 843-408-1504 dchinnis@dorchestercounty.net
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William R. “Bill” Hearn, Jr. (District 6) 843-851-8383 bill.wrhearn@gmail.com Jay Byars (District 7) 843-563-0196 byarsj@dorchestercounty.net
COUNTY ECONOMIC DIRECTORS Berkeley County Economic Development Barry Jurs, Director 1003 U.S. Highway 52 P.O. Box 6122 Moncks Corner, SC 29461 843-719-4096 www.berkeleymeansbusiness.com Charleston County Economic Development J. Steven Dykes, Executive Director 4000 Faber Place Drive Ste 140 Charleston, SC 29405 843-958-4513 sdykes@charlestoncounty.org www.charlestoncounty.org Dorchester County Economic Development John M. Truluck, SCCED P.O. Box 340 402 N. Main St. Summerville, SC 29484 843-875-9109 jtruluck@dorchestercounty.net www.dorchesterforbusiness.com
COUNTY AUDITORS Berkeley County Janet Brown Jurosko P.O. Box 6122 1003 U.S. Highway 52 Moncks Corner, SC 29461-6120 843-719-4309 jjurosko@co.berkeley.sc.us Charleston County Peter Tecklenburg P.O. Box 614 101 Meeting St. Charleston, SC 29402 843-958-4200 ptecklenburg@charlestoncounty.org
Dorchester County James “JJ” Messervy, Jr. Main Office: 201 Johnston St. St. George, SC 29477 843-563-0118 Summerville Office: 500 N. Main St. Summerville, SC 29483 843-832-0169 auditoradmin@dorchestercounty.net
COUNTY TREASURERS Berkeley County Carolyn Umphlett P.O. Box 6122 1003 U.S. Highway 52 Moncks Corner, SC 29461 843-719-4040 Charleston County Mary Tinkler Main Office: O.T. Wallace County Office Building 101 Meeting St. Suite 240 Charleston, SC 29401 843-958-4360 mtinkler@charlestoncounty.org East Cooper Service Center: 1189 Sweetgrass Basket Pkwy Mount Pleasant, SC 29464 843-856-1203 North Charleston Service Center: Lonnie Hamilton III Public Services Building 4045 Bridge View Drive Charleston, SC 29405 843-202-6691 St. Paul’s Service Center: 5962 S.C. Highway 165, Suite 300 Ravenel, SC 29470 843-889-8351 Dorchester County Main Office: Cindy Chitty 201 Johnston St. St. George, SC 29477 843-563-0118 Summerville Branch: 500 N. Main St. Summerville, SC 29483 843-832-0118 AuditorAdmin@dorchestercounty.net cchitty@dorchestercounty.net
TRI-COUNTY MUNICIPALITIES Awendaw Mayor: Miriam C. Green 6971 Doar Road Awendaw, SC 29429 843-928-3100 www.awendawsc.org Bonneau Mayor: Rembert E. Wrenn 420 Municipal Lane P.O. Box 70 Bonneau, SC 29431 843-312-1654 Charleston Mayor: John Tecklenburg 80 Broad St. Charleston, SC 29401 843-577-6970 tecklenburgj@charleston-sc.gov Building Permits: 843-724-7320 Building Licenses: 843-724-3711 Construction Permits: 843-724-3782 Economic Development: 843-958-4506 Zoning: 843-724-3755 Folly Beach Mayor: Tim Goodwin 21 Center St. P.O. Box 48 Folly Beach, SC 29439 www.cityoffollybeach.com Building Official/Zoning Administrator: 843-588-2447 Goose Creek Mayor: Michael J. Heitzler 519 N. Goose Creek Blvd. P.O. Drawer 1768 Goose Creek, SC 29445 843-797-6220 www.cityofgoosecreek.com Planning Department: 843-797-6220, ext. 118
Hollywood Mayor: Jacquelyn S. Heyward 6316 S.C. Highway 162 P.O. Box 519 Hollywood, SC 29449 843-889-3222 Isle of Palms Mayor: Richard F. Cronin P.O. Box 508 Isle of Palms, SC 29451 843-886-9361 www.isle-of-palms.sc.us Building Permits & Business Licenses: 843-886-9912 James Island Mayor: Bill Woolsey 1238 Camp Road P.O. Box 12240 James Island, SC 29412 843-762-7744 www.townofjamesislandsc.org Jamestown Mayor: Roy P. Pipkin 7604 S.C. Highway 41 P.O. Box 145 Jamestown, SC 29453 843-257-2233 www.bcdcog.com/pdf/Regional_Directory/ jamestown.pdf Kiawah Island Mayor: Charles R. Lipuma 21 Beachwalker Drive Kiawah Island, SC 29455 843-768-9166 www.kiawahisland.org Lincolnville Mayor: Charles B. Duberry P.O. Box 536 Lincolnville, SC 29485 843-873-3261 www.lincolnvillesc.com
Hanahan Mayor: Minnie Newman 1255 Yeamans Hall Road Hanahan, SC 29406 843-518-0409 www.cityofhanahan.com
McClellanville Mayor: Rutledge B. Leland III 405 Pinckney St. McClellanville, SC 29458 843-887-3712 www.townofmcclellanville-sc.net
Harleyville Mayor: Charles Ackerman 119 S. Railroad Ave. Harleyville, SC 29448 843-462-7676
Meggett Mayor: Harry V. “Buster” Herrington III 4776 S.C. Highway 165 Meggett, SC 29449 843-889-3622 www.meggettsc.com busterherrington@comcast.net.
Moncks Corner Mayor: Michael A. Lockliear 118 Carolina Ave. P.O. Box 700 Moncks Corner, SC 29461 843-719-7910 www.townofmonckscorner.sc.gov Michael@twn-mc.com Mount Pleasant Mayor: Linda Page 100 Ann Edwards lane P.O. Box 745 Mount Pleasant, SC 29464 843-884-8517 www.townofmountpleasant.com Building Inspection & Zoning: 843-884-1229 Business Licenses: 843-849-2786 Economic Development: 843-856-2504 North Charleston Mayor: R. Keith Summey 2500 City Hall Lane P.O. Box 190016 North Charleston, SC 29406 843-740-2504 www.northcharleston.org Building Inspection & Permits: 843-740-2530 Economic Development: 843-740-2530 Zoning: 843-740-2578 Ravenel Mayor: Opal N. Baldwin 5962 Highway 165, Suite 100 Ravenel, SC 29470 843-889-8732
St. George Mayor: Anne Johnston 305 County Road S-18-61 St. George, SC 29477 843-563-3032 843-563-3032 St. Stephen Mayor: John Rivers 124 Hood St. St. Stephen, SC 29479 843-567-3597 riverstownofststephen@gmail.com Seabrook Island Mayor: Ronald Ciancio 2001 Seabrook Island Road Seabrook Island, SC 29455 843-768-9121 www.townofseabrookisland.org r.ciancio@townofseabrookisland.org Sullivan’s Island Mayor: Pat O’Neil 2050-B Middle St. P.O. Box 427 Sullivan’s Island, SC 29482 843-883-3198 www.sullivansisland-sc.com Summerville Mayor: Wiley Johnson 200 S. Main St. Summerville, SC 29483 843-851-4239 www.summervillesc.gov MayorJohnson@SummervilleSC.gov
Reevesville Mayor: Paul Wimberly P.O. Box 126 Reevesville, SC 29471 843-563-2058 Ridgeville Mayor: James Williams 105 School St. Ridgeville, SC 29472 843-871-7960 Rockville Mayor: Libby A. Holst P.O. Box 9 Rockville, SC 29487 843-559-0938 www.townofrockville.com
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Index
Real Estate............................................................................................. 4
Education..............................................................................................52
Median home prices over 5 years.............................................................................................6
Charleston-area school districts........................................................................................... 54
Days on market until sale........................................................................................................... 7
Regional Education Report: Chapter 3................................................................................... 56
A look ahead at residential home sales.....................................................................................8
S.C. High school graduation rates...........................................................................................57
Single-family homes vs. condos.................................................................................................8
ACT results for S.C. students in 2016 .................................................................................... 58
Distressed home review...........................................................................................................10
Top 5 college majors that interest S.C. high school students.............................................. 58
Charleston area apartment market.........................................................................................11
Cumulative distribution of net lottery proceeds through FY 2015-2016............................ 58
Apartment units under construction..................................................................................... 12
South Carolina Technical College System, by the numbers................................................. 59
Median monthly apartment rent, 2015 .................................................................................. 13
Degrees awarded by public research institutions................................................................ 59
Charleston area annual apartment supply and demand...................................................... 14 Office submarket comparison, April 2017.............................................................................. 15
Import, Export and Distribution.......................................................... 60
Retail submarket comparison, April 2017............................................................................... 16
S.C. State Ports Authority........................................................................................................62
Industrial/Flex submarket comparison, April 2017................................................................17
Automotive at the Port of Charleston.................................................................................... 64
Industrial Buildings................................................................................................................... 18
Gross Domestic Product by metropolitan area, 2007 - 2015.............................................. 65
2016 regional home sales at-a-glance................................................................................... 20
South Carolina importing and exporting............................................................................... 66
Architecture, Engineering and Construction.......................................22
Hospitality and Tourism....................................................................... 68
New construction homes for sale, Charleston area..............................................................24
Tourism economic impacts in the Charleston area, 2016.....................................................70
Percent of original list price received, Charleston area.......................................................25
Airport renovation by the numbers.........................................................................................71
New private housing units authorized by building permits in S.C........................................26
National Park Service visitor data, 2016.................................................................................72
Housing building permits for S.C. metro areas......................................................................27
Connected in the great outdoors............................................................................................72
Total construction costs for S.C. metro areas.......................................................................28
Charleston County Parks opens newest facility, SK8 Charleston........................................72
S.C. construction costs less than U.S. average, 2016............................................................29
Charleston’s wedding economy...............................................................................................73
Construction jobs by county, 2016......................................................................................... 30
Total tri-county lodging sales................................................................................................... 74
What S.C. construction jobs pay.............................................................................................. 31
Hotel rooms added on the Peninsula of Charleston.............................................................. 74
Charleston under construction...............................................................................................32
Comparison of hotel market trends in the Charleston area................................................ 74 S.C. Airbnb hosts earnings, 2016............................................................................................. 74
Financial Services............................................................................... 34 South Carolina banking performance................................................................................... 36
Medical and Health Care.......................................................................76
Deposit market share report, 2016.........................................................................................37
Charleston area health factors rankings...............................................................................78
Charleston’s largest credit unions..........................................................................................37
South Carolina’s overall health ranking..................................................................................79
S.C. venture capital funding.................................................................................................... 38
Tri-County Health Landscape – 2016 Community Health Needs Assessment................... 80
State and local tax burdens.................................................................................................... 38
Buying the Affordable Care Act............................................................................................... 81
Demographics and Economic Development......................................... 40
Business Resources and Government................................................. 82
If you make $44,000 a year in the Charleston MSA,
Chambers of Commerce......................................................................................................... 84
here’s what you would need to earn to live similarly in these cities.....................................42
Economic Development........................................................................................................... 85
Average wage, 2015..................................................................................................................42
Financial Assistance................................................................................................................ 88
Advanced industries in the Charleston MSA..........................................................................43
Human Resources.................................................................................................................... 88
South Carolina annual patents granted................................................................................. 44
Miscellaneous Business Directory......................................................................................... 89
South Carolina military impact............................................................................................... 44
Technology................................................................................................................................ 90
Lowcountry a draw for state in-migration............................................................................ 46
Legislative representatives......................................................................................................92
Average daily population growth, 2014-2015.........................................................................47
Constitutional offices............................................................................................................... 93
Mean travel time to work (in minutes), 2015..........................................................................47 S.C. infrastructure issues carry costs................................................................................... 48 Biking in S.C.............................................................................................................................. 49 Regional Economic Scorecard............................................................................................... 50
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