Economic Development in South Carolina

[krazeeboi]

You're absolutely right about that! I'll try to express my thoughts about it a little later.

[Spartan]

Cherokee County is getting a nice boost to its economy soon. They just landed a manufacturing company that will employ 215 people within 5 years, to locate at the Upstate Corporate Industrial Park. That's a decent number of jobs anywhere, but to give you an idea of how big this is for Cherokee County... this project, combined with the other company locating at this site is going to have a larger contribution to the economy (in relative terms) than the EchoStar facility (1,500 employees) will have on Spartanburg.

The Herald-Journal

[krazeeboi]

Jafza International bought the land controlled by Carolinks, the Charleston development company that had attempted to develop an inland port at the US 301/I-95 interchange, using barges.

I found this quote particular exciting:

"Orangeburg has the potential to become a major logistical hub in the United States," said Chuck Heath, Jafza's managing director.

[Captain Worley]

It's about time, krazee. I've always been surprised that huge logistics centers haven't been springing up in that area. Glad to hear that the area is finally getting some attention.

[krazeeboi]

Yeah, eastern Orangeburg County, with immediate connections to I-95 and I-26, has always been a sleeping giant. I truly hope this venture is successful.

[krazeeboi]

Here are some key quotes from this article in the Charleston Business Journal concerning the proposed $600 million logistics development in Orangeburg County:

“What we want to do is facilitate the increase of foreign investments and opportunities in the state, and Orangeburg specifically,” [Chuck Heath, Jafza International’s managing director] said. “Developing and creating a new economy, that’s what we are about.”

When questioned about the 8,000 to 10,000 jobs that the company had previously suggested would be created in Orangeburg, Heath stood firm on those assertions

“I’ve done my numbers, and these are the numbers we anticipate being created in Orangeburg and the surrounding area,” he said, explaining that the figures include estimates for direct employment at the site, indirect employment inspired by Jafza International’s activities in Orangeburg and employment by others that is created by the logistics center’s presence.

This article, also from the CBJ, talks a bit about how this development has the potential to really benefit, not just Orangeburg, but surrounding counties as well. Orangeburg more than likely holds the state record for bordering the most amount of other counties (nine: Calhoun, Lexington, Aiken, Barnwell, Bamberg, Colleton, Dorchester, Berkeley, and Clarendon), and I can already see Dorchester, Berkeley, and Clarendon benefitting from this development. This would definitely tie Orangeburg County in a bit closer to metro Charleston. And being that less workers would have to travel outside of the county for employment, this could very well mean that Orangeburg is on its way to becoming a single-county MSA.

[CorgiMatt]

It will also mean a much shorter distance for trucks hauling goods from Columbia for shipment through Charleston, thus making the southern Columba MSA more attractive to companies wanting quicker access to shipping. After all, one of the main reasons the development is going to happen is for distribution to both the Charleston and Savannah ports, and I had already thought that Columbia should market itself as having convenient interstate access to both of those ports; and maybe soon we can add a Jasper County port to the list of conveniences. The Orangeburg site via I-26 and interstate-like 301 will make it exponentially quicker for access to all three coastal ports.

Edited October 14, 2007 by CorgiMatt

[flotownscot]

Roche Carolina in Florence recently announced a $60 million expansion.

http://www.scnow.com/midatlantic/scp/news....10-12-0004.html

$60 million is an awful lot to spend to only add 20 to 25 jobs.

[breed]

Roche Carolina in Florence recently announced a $60 million expansion.

<a href="http://www.scnow.com/midatlantic/scp/news.apx.-content-articles-FMN-2007-10-12-0004.html" target="_blank">http://www.scnow.com/midatlantic/scp/news....10-12-0004.html</a>

$60 million is an awful lot to spend to only add 20 to 25 jobs.

Unfortunately, or fortunately (depending on your viewpoint) I think this a trend that has been increasing as companies focus more on automation and effiiciency.

[krazeeboi]

It will also mean a much shorter distance for trucks hauling goods from Columbia for shipment through Charleston, thus making the southern Columba MSA more attractive to companies wanting quicker access to shipping.

Good point. I think that this would bode well for Calhoun County, which has already been getting some good investment lately.

[krazeeboi]

National Choice Bakery recently announced that it will locate a manufacturing facility in Chesterfield County. The company will create 75 new jobs initially with expected growth to generate a total of 140 jobs within three years.

Carolina Fabrication, a steel fabrication company concentrating on conveyor and air-scrubbing systems for coal fired power plants throughout North America, recently announced that it will locate its headquarters and new manufacturing facility in Abbeville County. The company has purchased and will occupy the former Great Dane (Strick) Plant in the Lakeland’s Industrial Park. The firm will invest more than $5 million and intends to hire 120 people in its first year of operation. The company anticipates that it will hire 180 employees by the end of its third year of operation. The jobs created will be high-wage manufacturing positions that will require special skills. Welders and fitters will be in strong demand as will CNC operators.

Eastman Chemical Co. recently announced that it will invest approximately $100 million to further invest in and transform its facility in Calhoun County. Also included will be projects aimed at increasing the capacity of the site's IntegRex technology polymer production by at least 50 percent. The projects are currently underway and expected to be completed in 2008.

[GvilleSC]

Greenville County Council is in the process of approving tax incentives for 3M to expand in the county. This would involved $15million and 50 new full time jobs. They currently empoy about 500 people in Southern Greenville County. link

Also, in Pickens County, Techtronic Industries Ltd. plans to add more than 140 jobs. They chose Pickens over China and another site in the United States. link

And, it's official: Easley will continue to host the Big League World Series in 2008. link

[Spartan]

I'm glad that Pickens was able to score something over China. That is particularly exciting. The other news is good too though

[CorgiMatt]

Here is an article from Sperry Van Ness, a real estate investment firm from Southern California, on the top 10 markets to watch for commercial and office real estate investment. Charlotte, Columbia and Greenville (in alphabetical order) each have a write-up. I find the similarities between Columbia and Greenville interesting, especially in terms of projections for future construction. Columbia has less empty space, but neither is expected to boom with new development.

http://ois.svn.com/ctcfaw.aspx?Token=sjJ51...mtNL6Awzg%3d%3d

Crap. The link doesn't work.

Edited November 22, 2007 by CorgiMatt

[CorgiMatt]

Try this one. If it doesn't work, google "sperry van ness top office investment markets to watch." The article starts out with a paragraph on the national picture. They say that while some MSA's are suffering from the subprime mortage fallout, others are thriving because of personality, vibrancy and dedication to the big picture. Then they do a write-up on each top ten market. For Charlotte, Columbia and Greenville, they cite climate, culture, charm and a low cost of living, as well as the advantages of being in coastal states.

http://ois.svn.com/ctcfaw.aspx?Token=sjJ51...%2frrAwiw%3d%3d

Nope, it doesn't work either.

Edited November 22, 2007 by CorgiMatt

[Spartan]

Here's the link. Just paste it into your address bar.

docs.svn.com/2008%20Office%20Top%2010%20Report

[goodbye]

Here is a list of the 2007 top 25 fastest-growing companies in South Carolina.

[krazeeboi]

Here is an article from Sperry Van Ness, a real estate investment firm from Southern California, on the top 10 markets to watch for commercial and office real estate investment. Charlotte, Columbia and Greenville (in alphabetical order) each have a write-up. I find the similarities between Columbia and Greenville interesting, especially in terms of projections for future construction. Columbia has less empty space, but neither is expected to boom with new development.

Good info. This bodes well for SC as a state.

[CorgiMatt]

Six hundred new jobs are coming to Newberry County.

http://www.wltx.com/news/story.aspx?storyid=56359

[GvilleSC]

Six hundred new jobs are coming to Newberry County.

http://www.wltx.com/news/story.aspx?storyid=56359

That's a large boost to the local economy. We'll take 'em!

[CorgiMatt]

Newberry isn't in an MSA, but it's only 40 miles from Columbia. It's good for the local Newberry economy, for the Midlands and for the state. Lot's of Newberry area people commute to Columbia to work, and some Columbia people drive there as well. Good for Newberry to be able to have more jobs in their community, though. They can work hard, pad their pockets, and on the weekends cruise 30 minutes down the highway to Harbison in northwest Columbia to shop.

Edited December 7, 2007 by CorgiMatt

[krazeeboi]

Yeah, Newberry has definitely been getting its fair share of job announcements in the past few months.

[Spartan]

Newberry is proof that investing in downtown and making it a destination will make your city thrive. There aren't many towns that small that have a hotel downtown and as nice of a set up as they do.

[krazeeboi]

I didn't know that Newberry had a hotel downtown. That's cool.

One thing is for sure, their residents are definitely proud of their downtown.

[Spartan]

Yep. Its a Hampton Inn.