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Economic developments in the Charleston metro area


Spartan

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^ The relocation of Polymer, believe it or not, is not a surprise. Polymer has had some financial problems dating back to 2000, and it was becoming obvious the company would have to make certain changes to offset them. This is unfortunate, but I don't think it's serious at all. The good news to this move is that the company did not leave Chas for "greener pastures". They didn't leave the area because of any negatives associated with it. The move was merely a consolidation of operations.

Well that's good to know.

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I posted this in the "South Carolina's Economic Engine" thread on the SC forum, but it bears repeating here as well.

Released on Feb. 22nd, the Milken Institute's 2005 Best Performing Cities list (out of the nation's 200 largest metros) ranks Charleston 22nd (up from 57th in last year's rankings), beating out some heavy hitters like Nashville, Raleigh, Atlanta, and Charlotte. In comparison, Columbia ranked 134th (up from 178th), Greenville ranked 178th (slipping four spots from 2004), and Spartanburg ranked 188th (up from 174th).

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Charleston is one candidate among other cities in six other states--Alabama, Arizona, Florida, Pennsylvania, Texas and one other unidentified state --for a $200 million manufacturing plant of military cargo planes.

The Army and the Air Force want a light-cargo aircraft for war-zone transport missions and other short-range flights. GMAS, a joint venture between Alenia North America and L-3 Communications Holdings, is pitching the C-27J Spartan Airlifter, a twin-engine turboprop. An overseas affiliate of Alenia North America helped develop that aircraft.

A decision is expected early next year.

What works in Charleston's favor is that this announcement comes as Alenia North America and Vought Aircraft Industries build a $560 million manufacturing center there that will make large fuselage components of Boeing Co.'s new 787 passenger jet beginning later this year, so Charleston definitely has momentum in its favor.

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Yeah, we've got to start from the ground back up.

Who is now the oldest member of Congress?

Lindsay Graham seem to have alot of pull. Maybe its just because he's on TV so much though...

The oldest is Robert C. Byrd (D-WV), 88, Senate

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Well, we got off topic on this subject, but this article link below should get things back on track.

THE PLANT IS COMPLETED!!!!! :yahoo:

Gov. Mark Sanford, company executives, and other guests will celebrate its opening at an invitation-only ceremony today. The state is hailing the completion of the 342,000-square-foot production facility near Charleston International Airport as a milestone in its fledgling efforts to make SC a major player in the aviation industry. The plant is part of a $565 million complex that will make large structural components for Vought's and Alenia Aeronautica's new 787 passenger jet.

Vought plant opening today

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Charleston provides the high-end luxury living environment that appeals to senior corporate executives and their spouses. Can't say that about most of the rest of South Carolina, or the South as a whole. Expect more corporate relocations in the future. The downside of this will be Charleston overrun by that most hated of all species: the rich, educated, and productive Yankee. Mythical Charleston lost forever, like a haughty old spinster gone in the teeth.

Awesome news, indeed. Charleston's local economy is certainly looking quite robust these days.
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Charleston provides the high-end luxury living environment that appeals to senior corporate executives and their spouses. Can't say that about most of the rest of South Carolina, or the South as a whole. Expect more corporate relocations in the future. The downside of this will be Charleston overrun by that most hated of all species: the rich, educated, and productive Yankee. Mythical Charleston lost forever, like a haughty old spinster gone in the teeth.

So would you rather like a stupid, poor, and unproductive person overunning your area.. that was an aimless complaint to say the least.

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Berkeley County approves incentives for Projects;

One of these projects will have an average $90k payroll. It will be the largest industrial announcement in Berkeley's history. Very impressive. Look forward to some annoucements soon. Hopefully one or both or both of these will be Daniel Island, so that the City of Chas. will get some $ too.

Stay tuned.

:yahoo:

Sanford will be smiling at this news. Also a great way for Rozier to go out.

Edited by vicupstate
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