Economic Development in South Carolina

[gs3]

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.

This is "wind turbine" as in energy production, not "wind tunnel" as in cars. CU-ICAR is about transportation and cars.

[Spartan]

It also makes more sense because the coast will have more constant wind to produce energy

BTW, The State is reporting that Clemson is receiving $98 million for this grant. That's pretty awesome. $45 million came from the federal government while the state and private sources matched with $53 million for that grand total figure. This is exactly the type of progress where both Clemson and USC have been making tremendous strides, and that will ultimately lead to more white collar jobs in South Carolina.

[krazeeboi]

Amazon.com Inc. is looking at sites in York County and some other SC counties for development of a distribution center that would measure more than 500,000 square feet. The company is seeking an interstate-accessible site of at least 50 acres. The distribution center is expected to employ more than 500 workers, although the company isn’t citing employment figures for the new facility. The Amazon facility isn’t a definite for York County. Site-selection officials working for the company are asking SC developers about incentives early in conversations.

[Spartan]

Could be a good addition. South Carolina gets more than its share of distribution facilities.

[gman430]

Proterra will select Greenville, SC for a new manufacturing plant located at CU-ICAR to assemble and manufacturer electric buses. The company will invest no less than $68 million for the new plant and create 1,300 jobs within five years: http://www.greenvillecounty.org/County_Council/_Agenda/Council/Magic%20Carpet%20Inducement%20Agreement%20v2.pdf News video on this: http://www.wyff4.com/video/21742314/index.html

Also, a company is looking at expanding operations in Greenville that will include 200 new jobs: http://www.greenvillecounty.org/County_Council/_Agenda/Council/Project%20D%20-%20inducement_resolution.pdf along with this one that will include a new headquarters and manufacturing plant: http://www.greenvillecounty.org/County_Council/_Agenda/Council/Project%20ABC%20INDUCEMENT%20AGREEMENT.pdf

[krazeeboi]

The Proterra deal is great news, and 1,300 jobs is a significant number. ICAR is sure to attract more green manufacturing jobs in the future.

[krazeeboi]

Four Star Industries LLC will locate its new facility in Allendale County. The $2.75 million investment is expected to generate 50 new jobs. The company will open a conduit pipe manufacturing plant in the former Kodiak Plant in Allendale and will market its products to the telecommunications, electrical and cable television industries. The company hopes to begin production sometime in the first quarter of 2010.

The Truss Company Inc. will locate its new facility in Williamsburg County. The $1.25 million investment is expected to bring 50 new jobs. The Truss Company Inc. will manufacture engineered wood roof and floor trusses at the new facility in Salters. Construction of the plant is scheduled to begin this month and operations are expected to start in March or April.

Materials Innovation Technologies, a research and development company specializing in unique carbon fiber reclamation and molding processes, will locate its new facility in Florence County. The $5 million investment is expected to create 120 new jobs. The facility will house operations for its MIT-RCF division which will be utilizing revolutionary technology to manufacture advanced composite parts for commercial use in a variety of industries, as well as reclaiming carbon fiber to be utilized in the manufacturing process.

Timken has selected a 300,000 square-foot leased facility in the Spartanburg County community of Duncan as the location of a new distribution center. The company has committed to invest $3 million and bring 100 new jobs to the area, in addition to 50 associates already employed by the company at an existing distribution facility in Spartanburg, who will transfer to the new facility in the Spartan Green Business Park as the company begins to occupy the space in December.

[gman430]

Sage is planning to build a new corporate headquarters and expand or build a new manufacturing plant in Greenville. Milliken's Gayley plant will be the one that will be expanded if they decide to go that route. 200-250 new jobs are slated to be created. The projects are code named Project D and Project ABC.

This is big news here. AVX Corporation announced this morning that they are moving their corporate headquarters to Greenville: http://www.thesunnew...y/1197142.html? storylink=omni_popular

Crane Company will be bringing 1,000 new jobs to Barnwell County: http://www2.wjbf.com...l_county/42519/

Itron to bring 150 new jobs to Oconee County: http://www.upstateto...ew-jobs-oconee/

Edited December 3, 2009 by citylife

[krazeeboi]

Wow, 1,000 jobs coming to Barnwell County? That's HUGE for that part of the state and definitely much needed.

[krazeeboi]

It wouldn't be Forbes if they didn't have another list out, this one the "Best Bang-For-The-Buck Cities" rankings. To find the cities that offer the most bang for the buck, Forbes looked at the country's 100 largest MSAs across these measures: foreclosures as a percentage of home prices; vacancies; unemployment rates; a three-year job-growth forecast; a three-year home-price forecast; housing affordability; median real estate taxes; and median travel time to work. On this list, Columbia ranks 12th, Greenville 20th, and Charleston 27th. Augusta, which includes the Aiken-N. Augusta area, ranked 5th.

[gs3]

Another good Forbes list. "Cities Where Americans Are Getting Richer" Incomes for educated workers are growing fastest in these metros. The growth in median income from 2006 to 2009. All three major SC metros made the list, with Charleston and Greenville in the top 50.

#38 Charleston / 2006 median: 45,900 to 2009 median: 50,600

#42 Greenville / 2006 median: 50,600 to 2009 median: 55,500

#85 Columbia / 2006 median: 45,500 to 2009 median: 47,700

http://www.forbes.com/2009/12/15/income-cities-rich-lifestyle-real-estate-salary-unemployment_chart.html

[Spartan]

I question that list. Not to say that it isn't an accurate measure but because it doesn't provide an analysis as to why. We still have record high unemployment in South Carolina. The only explanation for incomes rising during the recession with record high unemployment is that low paying jobs are being eliminated. To some extent we've had higher income jobs created, but not enough to raise the median income by over $5000 (which is a significant change).

[CorgiMatt]

With the big hit in the manufacturing and tourism industries that would make sense.

[GvilleSC]

With the big hit in the manufacturing and tourism industries that would make sense.

Big hit?

[CorgiMatt]

Big hit?

South Carolina has lost tons of manufacturing jobs, so the areas most dependent on manufacturing jobs have been hit hardest. Some companies have done well, of course.

Edited December 24, 2009 by CorgiMatt

[GvilleSC]

South Carolina has lost tons of manufacturing jobs, so the areas most dependent on manufacturing jobs have been hit hardest. Some companies have done well, of course.

Yes, but I'm not sure you can discuss big hits in manufacturing when you're looking at data on the big 3. Those kinds of large, concentrated hits have mostly been taking place in rural counties. I have no data to back that up, but I think it's pretty logical and based on news stories we've all witnessed over the past several months and year. No metro area, except Columbia's, has a large number of rural counties. I honestly don't think the number of jobs lost in the MANUFACTURING sector of Greenville, Pickens, and Laurens Counties could really add up to a $5,000 increase in income. But, who knows...

[CorgiMatt]

According to the attached jobs outlook interactive map, Spartanburg, Columbia and Sumter should see a slight uptick in jobs in 2010. Charleston and Greenville should maintain. (It's hard to find the right place to click for Greenville.) Anderson is projected to lose some.

http://www.usatoday.com/money/economy/2009-02-06-new-jobs-growth-graphic_N.htm

Edited December 30, 2009 by CorgiMatt

[CorgiMatt]

Here's a short article about some preliminary research that has been done to figure out how the I-95 corridor of SC can lead itself out of poverty.

http://www.columbiabusinessreport.com/news/32214-study-i-95-corridor-must-be-its-own-salvation?rss=0

[CorgiMatt]

Here's an interactive map from MarketWatch of the top 101 US metros for business. When you click on the metros you have to just take a stab at it and keep clicking in the general area of the metro you're looking for. SC's big three are all on the list.

http://www.marketwatch.com/Graphic-Features/Best-Cities-for-Biz?siteid=e2eyahoo

[CorgiMatt]

Can ya stand it? Here's another list. This one is Moody's list of metros that have begun to recover from the recession. Five out of ten in SC started recovering as of October.

http://www.usatoday.com/money/economy/employment/2009-12-29-laid-off-executives_N.htm

[Spartan]

According to the attached jobs outlook interactive map, Spartanburg, Columbia and Sumter should see a slight uptick in jobs in 2010. Charleston and Greenville should maintain. (It's hard to find the right place to click for Greenville.) Anderson is projected to lose some.

http://www.usatoday.com/money/economy/2009-02-06-new-jobs-growth-graphic_N.htm

I realize these are just projections, but I don't buy the notion that Greenville and Charleston won't see any growth in jobs.

[CorgiMatt]

A net gain would be nice.

[gs3]

The Hughes Brothers of Greenville are getting invloved in a large scale development in Columbia. This article calls the economic impact of this development, Columbia's "BMW". Not sure how houses equals BMW, but sounds good. Great to see Hughes branching out!

http://www.thestate.com/local/story/1093494.html

[Spartan]

That quote was from Mayor Coble, and he was referencing the DPZ plan, which the Hughes Bros are probably going to abandon (according to that article). He calls it a "potential" BWM for Columbia, because the original plan by DPZ called for "1,257 residential units - from single-family homes to condos and apartments - as well as 179,000 square feet of retail space and 638,000 square feet of office space." That amount of office space is considerably large- it would be like adding two more large office towers. If all of that happened as planned, it would have generated a lot of momentum for urban development in Columbia.

If the DPZ plan doesn't happen in some form, then not only did the City and State waste $400,000, they are wasting a golden opportunity to do something good for the city. I hope the Hughes Brothers will honor the intent of the plan, even if it can't be completed 100%.

[krazeeboi]

Even if the DPZ plan isn't totally adhered to, it's obvious that Bob Hughes knows how to do mixed-use developments right. RiverPlace speaks for itself in that regard.