Economic developments in the Midlands

[krazeeboi]

Five cities that will rise in the New Economy

Columbia isn't listed as one of those five cities, but it got good press by ranking high on one of the lists as part of the article. It's no coincidence that half of those "recession-proof" cities are capital cities.

I think Columbia needs to start taking better advantage of the fact that it has a fairly stable economy, especially in times like this when it really starts to show. Start using the three economic pillars of the local economy (state gov't, USC, Ft. Jackson) to build a more diverse economy and attract more industry.

[CorgiMatt]

Campaigning with all of those points at the forefront is going on behind the scenes. ....from good to great.

[krazeeboi]

^I should hope so.

In the meantime, here's another favorable ranking: Columbia ranks 12th out of the nation's 100 largest metro areas in Forbes "Best Bang-For-The-Buck Cities" rankings.

[smithc5]

Verizon Wireless' 1500 employee caller center in Forest Acres is relocating to a new $40 millon dollar facility in Kershaw County. What can Richland County do to attract and maintain businesses within the county?

[krazeeboi]

Verizon Wireless' 1500 employee caller center in Forest Acres is relocating to a new $40 millon dollar facility in Kershaw County. What can Richland County do to attract and maintain businesses within the county?

Where did you get Kershaw County from? They're moving out to Elgin, but they will still be on the Richland County side.

Source

[CorgiMatt]

Columbia's tax base gets a boost from this at Forest Acres' expense, because they've requested to be annexed into Columbia, but it's more sprawl.

[krazeeboi]

This move really highlights the troubles at Richland Mall aka Midtown at Forest Acres. The initial plans fell through, but that site still has so much potential. Since this economic downturn has occurred, it will probably be a few years until anything else is proposed.

[CorgiMatt]

Trulite will build generators in Columbia and bring up to 1000 new jobs. They chose Columbia over California, Connecticut, etc. last year and are bringing their manufacturing arm here.

http://www.thestate.com/local/story/1076138.html

[krazeeboi]

Finally Columbia gets something of a big fish economically. Thought it was going to be left out of all the announcements for a minute there.

[Spartan]

Don't forget about the DOJ offices that are relocated to Columbia. That's a huge win for Columbia too.

This one, though, is huge. Not just the jobs, but the fact that it's high tech manufacturing AND its part of the hydrogen fuel cell industry that the area has been trying to attract... AND in this economy. This is great news.

[krazeeboi]

Don't forget about the DOJ offices that are relocated to Columbia. That's a huge win for Columbia too.

Oh yeah, I forgot about that one. Lots of high-paying, white-collar jobs.

This one, though, is huge. Not just the jobs, but the fact that it's high tech manufacturing AND its part of the hydrogen fuel cell industry that the area has been trying to attract... AND in this economy. This is great news.

Very true, but I suspect that Columbia would land even more of these companies if Innovista hadn't been sputtering. This company is going in the Midlands Tech business incubator.

[CorgiMatt]

Up to 250 jobs and over 100 new city residences are to be gained with a $50 million development.

http://www.thestate.com/local/story/1092708.html

[krazeeboi]

SCBT has acquired Community Bank & Trust of Cornelia, Ga. and as a result has grown by nearly 50 percent. SCBT's assets will grow from $2.7 billion to $3.9 billion.

[CorgiMatt]

Here's some perspective from one of The State's business writers on the state of Columbia's unemployment rate and employment losses compared to SC's other metros and to the state in general.

http://www.thestate.com/business/story/1147963.html

Edited February 9, 2010 by CorgiMatt

[krazeeboi]

Immedion, a Greenville-based data security, storage and recovery firm, will build a 5,000-square-foot data center in the S.C. Research Authority-USC Innovation Center, the downtown business incubator. The firm plans to hire 15 employees, doubling the size of its present staff. The Columbia facility has 8,000 square feet of office space and 65,000 square feet of warehouse space and could host 10 to 15 companies. The center will be larger than other incubators in the Midlands and will be the last step for high-tech startups before they move to their own facilities.

[CorgiMatt]

The Columbia SCRA building gets a second tenant. Direct Measurements is a 15-employee aerospace- and defense-related company that makes wireless surface-level strain sensors (whatever that is). The entrepreneur has wanted to find a place in Columbia for quite some time. The SCRA set-up is exactly what he has wanted, and his type of company is exactly what SCRA wants.

http://www.columbiabusinessreport.com/news/33119-scra-usc-innovation-center-gets-second-tenant?rss=0

Edited March 2, 2010 by CorgiMatt

[CorgiMatt]

Appalachian Underwriters is adding 50 jobs in the Midlands. They will be expanding their Irmo office with a $1 million investment.

http://www.wistv.com/Global/story.asp?S=9507708

[CorgiMatt]

Here's a report comparing SC and southern US MSAs' economic well-being and trends from 2007-08. Maybe with Columbia's upcoming new leadership (we hope) we can soon compare more favorably with the Raleighs and Austins. As it were, it could be a lot worse.

http://www.greenvilleonline.com/assets/pdf/BS15531949.PDF

[krazeeboi]

Acquisition of Community Bank & Trust of Cornelia, GA in February grew SCBT's coffers by about 50% and lifted the bank's first-quarter profit to a record high. SCBT reported that first-quarter net earnings rose to $49 million from $3.7 million a year earlier. The quarterly profit was more than double what the bank made in its best year ever - the $22 million earned in 2007. The bank's growth, along with anticipation of loan growth, has SCBT adding employees, chief executive Robert Hill said. A concerted push to increase deposits has added more than 25 bankers in branches across the Carolinas, and SCBT is adding about 100 additional support jobs in the Midlands in technology and loan operations, Hill said.

Maybe a new headquarters tower will be in order in the near future?

[CorgiMatt]

The attached article backs up what I have been saying for a couple of years or more: that the suburbs are becoming yesteryear's place to be. SC's metros might be slightly behind the curve on the new city vs. suburbia trends, but people who are still moving out to the state's burbs are themselves behind the curve and may be sorry.

http://www.msnbc.msn.com/id/37041770/ns/us_news-census_2010

[Spartan]

Similarly, this article from the Harvard Business Journal discusses the move away from suburbia that is happening nation wide. I encourage you all to read it, as it makes a lot of sound reasoning for improving our center cities across the nation.

Back to the City

[CorgiMatt]

Columbia is adding 70 medical IT jobs. A Maryland software company is bringing them here.

http://www.thestate.com/2010/05/18/1292131/health-care-software-firm-to-open.html

[waccamatt]

Columbia is adding 70 medical IT jobs. A Maryland software company is bringing them here.

http://www.thestate.com/2010/05/18/1292131/health-care-software-firm-to-open.html

Quality over quantity - those should be relatively high-paying jobs.

[gs3]

Columbia is adding 70 medical IT jobs. A Maryland software company is bringing them here.

http://www.thestate.com/2010/05/18/1292131/health-care-software-firm-to-open.html

Excellent news. 70 more people with disposable income to help the retail scene.

[krazeeboi]

Columbia is adding 70 medical IT jobs. A Maryland software company is bringing them here.

http://www.thestate.com/2010/05/18/1292131/health-care-software-firm-to-open.html

That pretty much fits in with the IT cluster in Columbia. This will be a great addition for the local economy and would be even better if they located downtown.