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South Carolina's Economic Engine


The_sandlapper

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The stats for job increases between 2001-2004 demonstrated this fact, as Myrtle Beach and Charleston led the way in SC for job growth during this period. The Columbia metro statistics weren't impressive, but not dismal either. At this point, both Columbia and Greenville are investing in future economic generators; I just hope the local economies can remain relatively stable until these developments get up on their feet; this holds for Greenville more so than Columbia, since state government, USC, Ft. Jackson, or Palmetto Health isn't going anywhere.

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What I understand from this report and others I've heard, read, and seen covering it, Greenville is learning to focus on the details which will make the city a stronger economic force. I like the critical analysis because it helps to give the naysayers and "nimbys" (Not In My Back Yard) a guide to certain areas and issues where Greenville lacks in defined effectiveness. The fact that Greenville is experiencing tremendous growth cannot be denied. The vision to see Greenville as a prosperous international powerhouse in the future is becoming sharper as a result of such studies. :)

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As there has been much ragging over Greenville for it in other threads, I thought it was worth addressing.

Apparently Greenville's Economy is not AS strong as we thought it was. But you can hardly say it's weak IMO.

Governor Sanford has recognized it on record (if I find the quote then I'll post a link for the skeptical people) that the Upstate IS the economic engine in the state.

Such things that are going for Greenville are CU-ICAR, Millinium Campus, growth, out-of-town investment, and 10 of SC's top 25 FASTEST growing companies- that's in Greenville alone.

-As posted before:

YEAR BUILDING PERMITS

2001 2032

2002 2032

2003 2099

2004 2326

2005 2896

Source: Lee Polowczuk, Greenville County spokesperson & Greenville News

A lot more business people are coming to Greenville. Hotels have seen a spike in business during the first couple of months of 2006.

I hardly think it's disputable that Greenville and the Upstate are the Economic Engine in the state, especially when "the you may be surprised" county has still yet to be listed.

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I agree that every part of the state is vital. There's no doubt about that. We are too interdependent to do without any one region. That doesn't mean there's not an economic engine in the state, after all, that's why this was started.

I just wanted the Columbia forumers to be happy. They were worried about not getting a response to their attack.

Recent GSA Business article quote:

“It seems to me, of all the different regions, when it comes to economic development, Greenville is the most progressive,” Sanford says.

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Relax, no one is disputing Greenville's economic importance to the state. But the claim that it's the "economic engine" is just not true. I don't dispute that it's the states manufactoring mecca I thik anyone can see that. But not everyone in the state of SC works in that field (We are a tourist state afterall, "that's a hint by the way"). But I digress so instead of continually chasing the tail Charleston it's Charleston. Like I said those who live there I'm sure already knew that. Charleston lead in the most categories of economic impact from what I came up with using stats from the census.

Oh, and I hardly take a politicians quote to heart esp. if elections are right around the corner. That would be like me believeing that there are weapons of mass destruction in Iraq or something?

Woohoaw!

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^Now like they say in school, "Show your work!" :)

And to make them truly persuasive it needs the current FACTS to be included.

I would not say one region is the clear economic engine of the whole state, even though you can certainly find unique strengths in each. Yes, if tourism were the only industry in the state, Charleston would lead hands down. However this is by no means the case in SC. I don't want to continue to debate/argue over each region's strengths and weaknesses, because it accomplishes nothing good in my opinion. Observing the strengths of each region as strengths for the entire state greatly benefits us all as a whole, because corporations looking at us will see the positives as an invitation. :thumbsup:

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g-man430, thank you for the link, but we ALL must follow the rule that when supplying a link, the poster needs to include a summary of it for those not interested in reading or unable to link to the article or site. It better contributes to the thread. If people are unable to link to the site, they'll be scratching their heads wondering what you meant them to see/read. This goes for EVERYONE on UrbanPlanet.org. I was not in charge of making this rule, but I totally agree with it. :thumbsup:

BTW g-man430, I am also very excited about this development, as you know from our discussion in the New Greenville Developments thread. ;)

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Well ladies and gents it seems I have to eat Crow. My initial research turned up Charleston as the leader. Then I went back and threw in Horry, Spartanburg, York, Lexington, & Dorchester counties for fun. I found out that the states true "econimic engine" is Horry County. It seems as if monsoon was on to something all along here. Horry county pretty much dominated the occupational and industry categories. So my hats off to "the Republic of Horry" the states job generator county!

Okay here we go it shakes down like this. I have taken the total number of people who make up the work force, 16 years of age and older, for each represented county and I have considered the % of people who work in that occupational and industrial area in that county ( ie there are 500,000 people who represent the workforce of Javier County, well of that 500,000 people that work in that county 10% work in manufacturing, 40% in transportation, and 50% in education). So with that said those are my economic indicators as far as what type of jobs are out there, and where in the state these jobs are located.

Occupation winners break down like this:

Management, professional, and related occupations: Richland 38.9%

Service occupations: Horry 20.1%

Sales and office occupations: Horry 29.8%

Farming, fishing, and forestry occupations: 3 way tie Charleston, Horry, & Dorchester 0.5%

Construction, extraction, and maintenance occupations: Horry 13.2%

Production, transportation, and material moving occupations: Spartanburg 24.5%

Horry lead in 4 categories.

Industry breaks down like this:

Agriculture, forestry, fishing and hunting, and mining: Horry 1.1%

Construction: Horry 11.4%

Manufacturing: Spartanburg 27.7%

Wholesale trade: York 5.3%

Retail trade: Horry 15.7

Transportation and warehousing, and utilities: 2 way tie Lexington & York 6.2%

Information: Greenville 3.3%

Finance, insurance, real estate, and rental and leasing: Richland 9.1%

Professional, scientific, management, administrative, and waste management services: Charleston 10%

Educational, health and social services: Richland 24.1%

Arts, entertainment, recreation, accommodation and food services: Horry 20.1%

Other services (except public administration): 3 way tie Greenville, Charleston, & Lexington 5.0%

Public administration: Richland 9.7%

Source per US census of course 2000 "fact sheet".: US Census

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Come on, kraZ, you have to admit it is extremely promissing, though. I daresay it would make your heart beat faster had it been reported for Columbia. Corporate headquarters are the kind of companies we want most and are poised to nab for the Upstate. This is huge for any of the state's big cities. :D

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My problem wasn't that something "major" is rumored to come to Greenville over Columbia; at this point, I don't care if a company wants to be based in Bamberg so as long as it invests in this state. It's just that it's too speculatory in nature to even get hyped up about. All of the "what ifs" sound really good, but it's just too early, IMO. But I do wonder what other cities are in the running. That would be telling.

Sandlapper, we appreciate you doing your research, but I would think that for any of our counties to have "economic generator" status, trends would have to be documented over a period of time. This in no way disputes Horry's economic strengths, but the economic histories of these counties play a part as well.

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More rankings, guys. Charleston is pouncing all over Columbia and Greenville.

Released on Feb. 22nd, the Milken Institute's 2005 Best Performing Cities list (out of the nation's 200 largest metros) ranks Charleston 22nd (up from 57th in last year's rankings), beating out some heavy hitters like Nashville, Raleigh, Atlanta, and Charlotte. In comparison, Columbia ranked 134th (up from 178th), Greenville ranked 178th (slipping four spots from 2004), and Spartanburg ranked 188th (up from 174th).

On the 179 smallest metros list, Myrtle Beach ranks 35th (down from 31st in 2004), Sumter 143rd (108th last year), Anderson 159th (up from 174th last year), and Florence 163rd (down from 69th in 2004--ouch!).

The index ranks U.S. metros based on their ability to create and sustain jobs. It includes both long-term (five years) and short-term (one year) measurements of employment and salary growth. There are also four measurements of technology output growth, which are included because of technology

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kraZ, I think you ought to consider a little enthusiasm today. :thumbsup: Also, there is only one other location being considered. It is somewhere in Florida.

The article in The Greenville News today has a little more detail about "Project POGO." Sounds very exciting indeed!

Reported keys include:

  • Corporate Headquarters

  • $100 million investment in first five years

  • $200 million possible investment over ten years

  • 600 employees

  • the first of a multiphase development

  • "one-of-a-kind" for the state

A few eye-catching/ear-opening quotes:

"...the development would be the first phase of a multiphase project..."

"The jobs would pay an average of $54,000..."

"...the company would generate $11 million a year..."

The project is compared to "the scope of Hitachi or BMW Manufacturing in terms of the amount of property it would require..."

"...the development plans she (Judy Gilstrap) has seen are 'absolutely phenomenal.'"

"...the company could kick off the first big cycle of post-manufacturing economic development in the state, with Greenville in the lead."

:yahoo:

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Doesn't Greenville also lead the state in retail spending/sales? I'm not sure of the specific category, but I found it interesting since you always hear so much about Charleston being THE shopping mecca in SC.

Nope, that would be N. Chas (uhh...the north city in Charleston! :lol: ). That, combined with sales from DT and areas such as West Ashley and East Cooper, the Chas area does lead the state in retail spending. This trend will probably continue with another Best Buy locating West Ashley and the Tanger Outlet Center currently being built near the coliseum.

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