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krazeeboi

Economic developments in the Midlands

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If I read that correctly, the Columbia MSA has added 67,000 jobs in the last 9 years. I wonder if the data is consistent in terms of which counties are considered part of the MSA?

Edited by waccamatt

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Out of the nation's 75 largest metropolitan areas, Columbia placed 47th for small business growth and vitality according to a new study by Bizjournals. The study's objective was to identify those metros that are most conducive to the creation and development of small businesses. The highest scores went to areas that have prosperous economies, are expanding rapidly, and are densely packed with small businesses. (Bizjournals defines a small business as any private-sector employer with 99 or fewer employees.) The study used statistics from 2005, the most recent available.

Columbia's got some work to do here. Florida's metro areas scored pretty well.

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Hey, guys, check out this new website. I just heard about it this morning on NPR, on Mike Switzer's "South Carolina Business Review" program. It's about businesses and business announcements in the Midlands. There's also demographic info on the site.

http://www.midlandsbiz.com/

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Thats a great website. Those local stats on growth really show how much is concentrated in northeast richland. Lexington has its share too, but its more spread out. Good photos too. Great find Corgi!

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Great find indeed.

In other news, apparently income growth in metro Columbia lags the national average. After inflation, average income per person rose 2% in the Columbia area last year, compared with an average of 2.6% among the nation's 363 metropolitan areas. In the six-county Columbia MSA, personal income averaged $32,308 in 2006, according to the U.S. Bureau of Economic Analysis. The state

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Interesting. If Columbia is being dragged down, then it needs to work more at the regional level to bring the outlying areas up.

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Although it didn't rank high (63 of 72), Columbia was the only SC metro to land a spot on Expansion Management's recent "5-Star Business Opportunity Metros" list. This is a “Best of the Best” ranking of metro areas that have achieved solid ratings across the board in the company's numerous studies during the past 12 months.

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Saber Corp., a Portland, Ore.-based company that specializes in software products and services for government, has an $89.2 million contract with the state Department of Social Services to develop the S.C. Child Support Enforcement System and the Family Court Management System, which will create about 180 jobs. Saber will occupy 39,000 square feet in the Browning Business Center, the former Wachovia operations center, on Browning Road in St. Andrews.

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SCBT announced yesterday that it is buying Charlotte-based The Scottish Bank in a $43.4 million cash and stock deal. The Scottish Bank will keep its name and operate as a subsidiary of SCBT.

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Southeast Frozen Foods, the largest exclusive distributor of frozen food products in the southeastern U.S., recently announced that it will expand its distribution center in Calhoun County. The company plans to invest approximately $3.5 million and create 30 new positions as a result of the expansion.

Calhoun County has been the target of significant investment as of late. That's good, because it spreads the wealth throughout metro Columbia.

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The Columbia Office of Economic Development received the Technology-Based Economic Development award from the International Economic Development Council. The city was cited for its collaboration with the USC Columbia Technology Incubator. That's a pretty notable achievement there.

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I was scanning this report about the role metropolitan areas play in the nation's economy and saw a positive mention of Columbia. Here's the excerpt:

...metros such as New York, Columbia, Des Moines, and Salt Lake City retain at least one-third of their jobs within 3 miles of downtown; others including Atlanta, Detroit, Los Angeles, and Miami count fewer than 10 percent of their metropolitan jobs there.

I couldn't find a table or graph or anything, but I would assume that the four cities mentioned are the top four in terms of having the highest amount of jobs in close proximity to downtown (especially since NYC was mentioned). The job base in Columbia is pretty centralized, which is a good thing. It's also interesting to note that aside from NYC, the cities listed are capital cities.

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