Economic Development in South Carolina

[goodbye]

According to an article in the current issue of Greenville Journal, Greenville is home to eleven of South Carolina's top 25 fastest-growing businesses. This research information has been released by Elliott Davis, LLC, and the South Carolina Chamber of Commerce, and includes data submitted from the two most recent fiscal years. Columbia had the second-largest number of companies on the list, with three. The fastest growing company in the state was Force Protection Industries, based in Ladson (near Charleston).

Here is a list of the companies in Greenville that were among the fastest-growing in the state, and their position. The words are written exactly as they appear in Greenville Journal:

Greenville Explosion

Companies based out of Greenville took 11 of the top 25 spots for fstest-growing companies in the state.

2. JH Global Services, Inc. - Provider of outsourcing and consulting services for manufacturing companies looking to market their products and services to the United States and China.

3. North American Rescue Products - Manufacturer of emergency rescue and medical equipment for military healthcare professionals.

5. Yardiac.com - Internet retailer of outdoor and garden products and hard-to-find specialty goods.

7. Condustrial Inc. - Provider of supplemental skilled craftsmen to construction and manufacturing industries. First-place winner in the South Carolina's Fastest-Growing Companies 2006 program.

8. SDI Networks, Inc. - Professional services firm that helps businesses mitigate risk and secure their digital assets by planning, deploying, and maintaining the information technology communications and security infrustructure.

9. TIC Properties, LLC - Company that locates and underwrites institutional grade commercial real estate assets across the United States.

13. Level One, Inc. - Real estate management company offering programs and services for companies looking to outsource the leasing of multi-family communities.

14. Pro Source, LLC - Wholesale supplier of specialty consumer and institutional products for the kitchen and bath.

17. FGP International - Staffing firm serving Fortune 500 companies, as well as small and mid-sized companiesworldwide in the healthcare, accounting/finance, manufacturing/engineering/retail industry, and information technology fields.

18. National Service Center - Service-only company providing equipment lifecycle management for various types of equipment including bar code, data capture, point-of-sale (POS), laser, computer, RFID, network and wireless network.

25. Yeargin Potter Shackleford Construction, Inc. - Major emphasis on the design/build approach to construction, effectively complete numerous design/build projects each year utilizing technical expertise and teamwork skills.

[GvilleSC]

Wow! Greenville did well last year too. This is great news. I have a feeling this will remain the case in the future thanks to Innoventure, CU-ICAR, and the rapid growth fueling construction.

[CorgiMatt]

Columbia is small business oriented. Small businesses are the backbone of the American economy and create more jobs overall.

[GvilleSC]

Columbia is small business oriented. Small businesses are the backbone of the American economy and create more jobs overall.

I'm not sure the requirements for you to classify something as small business, but most of the companies on the list are rapidly growing small businesses. Creating those jobs that you're referring to.

[goodbye]

I would say that the state's major metros are all good markets for small business. I would expect that businesses are only just beginning to experience the growth we have desired for quite awhile now. Check out the level of growth within the past year as opposed to last year's growth. Click here for an official report.

Edited November 14, 2006 by Skyliner

[krazeeboi]

I really wonder how growth in our companies compares to growth in the fastest-growing companies in neighboring states. Something tells me it wouldn't be as impressive.

[goodbye]

I really wonder how growth in our companies compares to growth in the fastest-growing companies in neighboring states. Something tells me it wouldn't be as impressive.

That may indeed be true, but I am glad to see some of our own beginning to really take off. Considering how much we have lost over the past decade, this is quite encouraging.

[krazeeboi]

Very true. I hope the trend continues and accelerates even.

[CorgiMatt]

do you have a link? I wonder how Spartanburg and Anderson are doing.

I'm getting back to you on this, finally. Spartanburg's total nonagricultural employment figures went from 123,200 in 8/05 to 120,700 in 8/06. In 7/06 it was 117,800. Anderson's numbers were 62,400 in 8/05 and 60,500 in 8/05. The 7/06 number was 60,400.

I attended a symposium last night given by Dr. Donald Schunk (sp) from USC's Moore School of Business who said the Upstate metros have relied relatively heavily on manufacturing, and he expects the trend of manufacturing job losses to continue.

He showed figures that show Columbia's employment grew by 11,700 from September 05 to September 06, a 3.3 percent one-year gain. And he said the figures, which are the same figures SC Workforce Trends uses, are actual payroll figures, not announcements.

[GvilleSC]

I'm getting back to you on this, finally. Spartanburg's total nonagricultural employment figures went from 123,200 in 8/05 to 120,700 in 8/06. In 7/06 it was 117,800. Anderson's numbers were 62,400 in 8/05 and 60,500 in 8/05. The 7/06 number was 60,400.

Thanks. Maybe it shouldn't be, but Spartanburg was kind of surprising to me.

[goodbye]

...

I attended a symposium last night given by Dr. Donald Schunk (sp) from USC's Moore School of Business who said the Upstate metros have relied relatively heavily on manufacturing, and he expects the trend of manufacturing job losses to continue.

...

What your professor failed to mention, it seems, is that the unemployment in level in the largest Upstate metro (Greenville) is very near the lowest in the state. The Upstate has been challenged by the loss of textile manufacturing jobs to outsourcing in the past decade, but if you've been doing your homework, you also know that we are doing our fair share of recruiting major business to the region with available positions to be filled. One look at the explosion of growth in the Upstate is enough to realize how well we've come through the transition period so far. Based on valid public information and my own observation, I would say the outlook is every bit as rosey here in the Upstate as it is in Midlands and Lowcountry. Some would argue it is even brighter.

[Spartan]

Thanks. Maybe it shouldn't be, but Spartanburg was kind of surprising to me.

I agree. However, there have been a few expansions and new companies that have said they will move into the area, but haven't done it yet. The loss was only about 2,500 jobs from 05 to 06. While that is not a good thing, its important to recognize that this wil balance itself out. EchoStar is hiring 1300 people, which is more than half of the loss from last year. I'd say its pretty well known that manufacturing is on a downward trend. Its also important to recognize that places like Greenville are perhaps a bit more diversified in thier economic base. There are more non-manufacturing jobs vs manufacturing jobs there than there are in Spartanburg, and most definitely Anderson.

[CorgiMatt]

What your professor failed to mention, it seems, is that the unemployment in level in the largest Upstate metro (Greenville) is very near the lowest in the state. The Upstate has been challenged by the loss of textile manufacturing jobs to outsourcing in the past decade, but if you've been doing your homework, you also know that we are doing our fair share of recruiting major business to the region with available positions to be filled. One look at the explosion of growth in the Upstate is enough to realize how well we've come through the transition period so far. Based on valid public information and my own observation, I would say the outlook is every bit as rosey here in the Upstate as it is in Midlands and Lowcountry. Some would argue it is even brighter.

He's not my professor. He's the professor that SCETV on NPR uses for updates on the state's economy. He was the featured speaker at a meeting I went to last night. Actually, he did talk about the unemployment rate in South Carolina and in the major metro areas. He said a slightly higher unemployment rate at this stage in the game (after the state's recession) reflects a higher number of people re-entering the workforce after having given up at one time, and that the unemployment rate measures the whole workforce, including both employed and unemployed people. According to MSN, the Columbia area is a good place to be looking for a job now.

Edited November 16, 2006 by CorgiMatt

[TheSuperPope]

That is what everyone in college says... "I'm moving to Charleston after I graduate to get a job"

Then you see them a year later in Cola or G'vegas working for a bank

[krazeeboi]

^LOL.

I know people who have graduated and have found gainful employment in all of the Big Three.

[Spartan]

^LOL.

I know people who have graduated and have found gainful employment in all of the Big Three.

Me too, but I know that most of them wanted to go to Charleston, myself included. I guess I got lost on the way

[krazeeboi]

According to The State, Aiken County will gain 40 new jobs with an expansion of Honda supplier Newman Technology South Carolina Inc. Newman began construction Tuesday of a $4 million, 47,000-square-foot addition to its factory at the Ventures Industrial Park. The plant, a subsidiary of Sankei Giken Kogyo Co. of Japan, opened in 2001. It now employs about 300 people making exhaust systems, door sashes, luggage racks and swing arms used in all-terrain vehicles assembled at Honda

[CorgiMatt]

According to The State, Aiken County will gain 40 new jobs with an expansion of Honda supplier Newman Technology South Carolina Inc. Newman began construction Tuesday of a $4 million, 47,000-square-foot addition to its factory at the Ventures Industrial Park. The plant, a subsidiary of Sankei Giken Kogyo Co. of Japan, opened in 2001. It now employs about 300 people making exhaust systems, door sashes, luggage racks and swing arms used in all-terrain vehicles assembled at Honda

[GvilleSC]

You have to hunt and click, but the figures show that from 8/2006 to 9/2006, the MSA job figures were as follows: Columbia - +2,300; Florence - + 1,300; Spartanburg - +1,200; Greenville - + 900; Anderson - +700; Myrtle Beach - down 6,300; Charleston - down 1,100.

OUCH. The coast is hurting.

[gs3]

You have to hunt and click, but the figures show that from 8/2006 to 9/2006, the MSA job figures were as follows: Columbia - +2,300; Florence - + 1,300; Spartanburg - +1,200; Greenville - + 900; Anderson - +700; Myrtle Beach - down 6,300; Charleston - down 1,100.

Good numbers! And since the GSA area is for all purposes one metro, that's 2,800 in the Upstate around Greenville's core.

[CorgiMatt]

Good numbers! And since the GSA area is for all purposes one metro, that's 2,800 in the Upstate around Greenville's core.

And all together the combined Upstate MSA's gained 100 jobs from 9/2005 to 9/2006, off-setting the manufacturing job losses.

[gs3]

And all together the combined Upstate MSA's gained 100 jobs from 9/2005 to 9/2006, off-setting the manufacturing job losses.

And what was the net for the other regions?

[knightrider162]

OUCH. The coast is hurting.

I think that is an annual trend with hospitality areas around this time of year but I could be wrong...

[CorgiMatt]

And what was the net for the other regions?

7,500 for Charleston-N. Charleston; 3,500 for Florence; 11,800 for Columbia; 1,700 for Sumter; 2,800 for Myrtle Beach

[gs3]

7,500 for Charleston-N. Charleston; 3,500 for Florence; 11,800 for Columbia; 1,700 for Sumter; 2,800 for Myrtle Beach

Something is not right here with these numbers. You're saying that GSA only netted 100 jobs (because losses washed out gains) from 9/2005 to 9/2006, yet Columbia netted 11,800 and Charleston 7,500. This isn't correct. By area....1. What was the new job creation 2. What was the job loss 3. What was the net result

Whoa....wait a minute. I see. You first talk about 08/06 to 09/06 which puts GSA at 2,800. Then you change to 05 to 06. Instead of a month, a year.

Apples to apples, please spell it out for Charleston, Columbia, GSA. Thanks.

Edited November 17, 2006 by gsupstate