Economic Development in South Carolina

[Spartan]

This is exactly why its even more important to invest in education in addition to strategies that will being in high-paying and high-tech industry to South Carolina.

[gman430]

The US Bureau of Labor Statistics has released the September unemployment for South Carolina and it's not pretty: http://www.thestate.com/breaking/story/992592.html The unemployment rate increased to 11.6%.

[GvilleSC]

TOP S.C. MANUFACTURING CITIES

1. Greenville - 25,509 manufacturing jobs (-0.2% change over past two years)

2. Spartanburg - 15,594 jobs (-12.4%)

3. Columbia - 9,728 (-14.3%)

4. Greer - 9,403 (-0.6%)

5. Anderson - 9,012 (6.1%)

6. Charleston - 7,904 (-9%)

Are these just the jobs in each city's actual limits? I'm struggling to think of enough companies in Greenville's boundary that would add up to 25,000+ jobs. GE is close, but I'm not sure it's within the city limits. And, to the best of my knowledge, BMW is not in the Greer city limits... If it's simply the general area of each city, then where do you draw the line? I'm not sure how important or relevant these numbers are in relation to each defined area, but this is where the ambiguous nature of City/County/UA/MSA/CSA all create confusion (at least to me).

[goodbye]

The US Bureau of Labor Statistics has released the September unemployment for South Carolina and it's not pretty: http://www.thestate.com/breaking/story/992592.html The unemployment rate increased to 11.6%.

The official BLS summarized report can be read here. We all know how difficult it has been here in SC, but when you look at the staggering numbers in other states it is no wonder so many people are considering a relocation.

For example, the state of New York lost 81,700 jobs within a month, between August 2009 and September 2009. NY has lost a total of 256,100 jobs within a year, from September 2008 to September 2009. In comparison, within a year, South Carolina lost 68,500 jobs between September 2008 and September 2009. I realize the workforce size is much larger in NY, but the actual number of job losses in most states is staggering. California lost 732,700 jobs between September 2008 and September 2009. Florida lost 360,400 jobs within the same year. Michigan lost 308,800 jobs. Illinois lost 306,900 jobs. Texas lost 303,700 jobs. etc... It is absolutely frightening.

[CorgiMatt]

The US Bureau of Labor Statistics has released the September unemployment for South Carolina and it's not pretty: http://www.thestate.com/breaking/story/992592.html The unemployment rate increased to 11.6%.

It puts us back in 5th place instead of 6th. Bummer.

[CorgiMatt]

It's a real month-to-month struggle just for SC's counties and MSAs to ry to keep their unemployment rates below the nation's.

[breed]

Are these just the jobs in each city's actual limits? I'm struggling to think of enough companies in Greenville's boundary that would add up to 25,000+ jobs. GE is close, but I'm not sure it's within the city limits. And, to the best of my knowledge, BMW is not in the Greer city limits... If it's simply the general area of each city, then where do you draw the line? I'm not sure how important or relevant these numbers are in relation to each defined area, but this is where the ambiguous nature of City/County/UA/MSA/CSA all create confusion (at least to me).

I'm about 95% sure it is based upon zip code and not city limits. Which makes the earlier comparison of metropolitan GDP and these numbers much less meaningful, as metropolitan GDP is based upon MSAs.

A quick breakdown...

Citys... city limits as defined by the city through annexation (the Census gets the information annually from each jurisdiction) Beyond that, the coordination to keep it accurate and up-to-date is too problematic. Most other times when you see city, it is actually zip code. Which is even more confusing because there are parts of the Greenville zip codes that are in other cities, and vice-versa.

County... pretty straightforward. Rarely ever changes and why it is used as the basis for MSAs and CSAs.

UA (urban areas)... area determined by an algorithm based upon population density and priximity to other densities. It is rarely used by anyone other than the Census. It is used to help determine eligibility for some federal funding programs. I've never seen it used in any other meaningful way.

MSA (Metropolitan Statistical Areas)... determined annually by the Office of Budget and Management. An algorithm-determined agglomeration of counties that make up a region. They can be changed annually. Because producing statistics is time-consuming, when there is a change in MSA delineation, organizations that produce statistics can end up using different regions for the same MSA.

CSA (Combined Statistical Areas)... determined annually by the Office of Budget and Management. Another algorithm-determined agglomeration of counties that make up a larger region. CSAs are usually larger than MSAs. For example, the Greenville CSA includes the Anderson, Spartanburg MSAs as well as a few other counties. However, in some cases, the CSA is identical to the MSA, most often found out west, where the counties take up a very large amount of area.

*********

The most confusing aspects that I've found when speaking to people...

...many people do not understand the difference between zip codes and city boundaries

...the changing definitions of MSAs

[krazeeboi]

Are these just the jobs in each city's actual limits? I'm struggling to think of enough companies in Greenville's boundary that would add up to 25,000+ jobs. GE is close, but I'm not sure it's within the city limits. And, to the best of my knowledge, BMW is not in the Greer city limits... If it's simply the general area of each city, then where do you draw the line? I'm not sure how important or relevant these numbers are in relation to each defined area, but this is where the ambiguous nature of City/County/UA/MSA/CSA all create confusion (at least to me).

I'm really not sure if those are jobs within actual city limits or if they're going by zip code or something. That's a good question.

[krazeeboi]

Well, it's official: Boeing is coming to Charleston. Today, the House and Senate gave final approval to an incentive package that requires for qualification that a company invest at least $750 million and create 3,800 full-time positions over seven years.

This is pretty darn big. It has a good chance of surpassing what BMW has economically meant for the Upstate.

[GvilleSC]

Great news for Charleston!

I wonder what sorts of impacts this will mean for the rest of the state? I would think that other aerospace companies would stand to gain, and Greenville has a fairly significant cluster of companies in this field...

[gman430]

Well, it's official: Boeing is coming to Charleston. Today, the House and Senate gave final approval to an incentive package that requires for qualification that a company invest at least $750 million and create 3,800 full-time positions over seven years.

This is pretty darn big. It has a good chance of surpassing what BMW has economically meant for the Upstate.

HUGE news and definitely the biggest economic announcement in this state since BMW. I doubt it will surpass BMW though. This will create 12,000 jobs while BMW has created over 15,000. In other news, Greenville is in a competition with Columbus, Ohio to land Proterra. The company will create 800 new jobs paying an average of $60,000 per year wherever they decide to locate. I'm hearing Greenville is the front-runner and South Carolina is offering a very large incentives package for them to build a plant at ICAR. News article here: Electric Vehicle Makers May Come To Upstate - Greenville News Story - WYFF Greenville Oh and Kemet has announced an expansion in Greenville too where they'll create over 100 new jobs: The Associated Press: Kemet to expand SC operations, add 113 jobs

It is great to see jobs finally starting to come back to this state. We need for this to continue. I think our state legislatures and lame duck governor are finally starting to wake up.

[vicupstate]

There seems to be some discrepanies on the jobs numbers (there always is with these things). Boeing already employs 2,500 people in North Charleston. Is the requirement to ADD 3,800 jobs or achieve a TOTAL employment level of 3,800?

Regardless, it is very positive.

As for the comparison to BWM. BMW itself employs 4-5,000. The remaining jobs are for suppliers. Will the suppliers in WA simply ship the parts to Charleston, or will they open new locations?

It may be a mix of both.

Also, when BMW first announced, they promised $400mm and 400 jobs. Obviously, that was a VERY lowball figure, which may have been intentional or not. Will Boeing be the same way or not ?? Time will tell.

[gman430]

I believe it's to add 3,800 if I recall correctly. At least I hope so. Nobody can truly say how many jobs Boeing will create due to uncertainty with future economic conditions. They will no doubt number in the thousands though. HUGE news either way.

Great news for Charleston!

I wonder what sorts of impacts this will mean for the rest of the state? I would think that other aerospace companies would stand to gain, and Greenville has a fairly significant cluster of companies in this field...

What it will mean for the rest of the state? GSA Technology Council � GE Aviation Announces Expansion in Greenville The plant makes turbine blades for the 787 Dreamliner.

Edited October 29, 2009 by citylife

[Spartan]

This is huge news. Definitely great news for Charleston. BMW has been a great corporate citizen in the Greenville-Spartanburg area. The jobs and sheer economic impact it has had has been amazing over the past decade. Boeing will certainly do the same to transform Charleston. IMO, the best thing that this can do is nock tourism down to the #2 economic generator in Charleston. If Charleston can become a business and industrial center first, and tourism destination second it will diversify and hopefully stabilize its economy.

[gs3]

Great news for Charleston!

I wonder what sorts of impacts this will mean for the rest of the state? I would think that other aerospace companies would stand to gain, and Greenville has a fairly significant cluster of companies in this field...

Absolutely fantastic news for Charleston and the state!

On my flight today I was chatting with a guy who had heard the news. He wasn't from SC but thought the news would impact Upstate positively as well, with the 787 being the first plane totally from composites/carbon fiber/advanced materials and we have numerous suppliers/strength in that area of expertise in the Upstate.

Very, very good news!

One thing I like, apparently in addition to the 787 line, airlines will be able to take delivery in Charleston. I've always loved photographing the delivery line in Seattle and seeing all the world's airline liveries. About to see that here in SC! Very cool.

[CorgiMatt]

Charleston's got it and gone in SC. My partner was laid off a few weeks ago and is looking for a job in Charleston, and my agency has told me that contingent upon the sale of my house to let them know when I want to transfer to our Charleston office in the same position I'm in now. My earliest SC ancestors lived in Charleston. I guess it's time to go back to my roots.

[CorgiMatt]

Hmmm. On second thought, maybe we'll stay put. The Chinese are in town with an eye on investing in Columbia while cashing in on the opportunities offered by the Columbia-USC incubator system of growing businesses, and the Capital City's halfway-to-Boeing and halfway-to-BMW location has caught their eye. Many supplier companies make parts for more than one type of vehicle or plane, WIS says, so it looks like I-26 might be getting a lot busier.

http://www.wistv.com/Global/story.asp?S=11410061

Edited October 29, 2009 by CorgiMatt

[CorgiMatt]

Zeus just south of Columbia hopes to cash in on the state's aeronautics boost.

http://www.columbiabusinessreport.com/news/31478-certification-increases-zeus-rsquo-presence-in-aerospace-industry?rss=0

[krazeeboi]

N.C.-based Materials Innovation Technologies will bring a new facility to Florence County, creating 120 new jobs. The company specializes in processes for reclaiming and molding carbon fibers for the automotive, aeronautics, and defense industries.

[krazeeboi]

Forbes has another list out (they wouldn't be Forbes if they didn't): America's Fastest-Recovering Cities. Columbia ranks 35th, Greenville 66th, and Charleston 75th.

To come up with the list, Forbes ranked the 100 largest MSA's in five categories: unemployment rate, GMP, foreclosures, home prices, and sales rates.

[CorgiMatt]

A major shipping company will hire 400 to 700 in South Carolina.

http://www.thestate.com/local/story/1039249.html

[Amapper]

It's amazing that the Columbia area has kept the lowest unemployment rate and sold the most homes during the last two years, what with the numbers on manufacturing losses.

Good question. The answer is simple: state capital. Government is about the only sector of the economy that has been growing and capitals, state and national, are often insulated from the worst of economic downturns.

[goodbye]

According to an article in the Greenville News, Clemson has been selected to receive a $45 Million federal grant to build a wind turbine testing facility at its Restoration Institute campus in Charleston. Clemson is planning a high tech research center for a vacant warehouse at the former Naval base. This news comes with tremendous implications for the future of alternative energy research in the state. A huge gain in every aspect.

[GvilleSC]

This is definitely huge news for the state of South Carolina and Clemson University!

[distortedlogic]

Boy Chas has been getting a lot of good news lately! I saw the article too, but I have to ask; why is this not being done at ICAR? I thought this was exactly the type of thing ICAR was envisioned for.