Economic developments in the Charleston metro area

[Charleston native]

Any new developments on this? I haven't heard anything for the past 2 months.

[krazeeboi]

Wouldn't this be the Ross Perot Jr. project, the international trade center?

[Charleston native]

I don't think so. The Ross Perot, Jr. plan is along I-26 around the Summerville/Jedburg region while this development is part of a project in the city of Chas section of Cainhoy. Could it be the project I posted in the Greater Developments thread about additions to the Chas Regional Industry Park? We need some clarification.

[krazeeboi]

OK. I thought it was referring to the Perot project because it was said in the P&C that it would be the largest industrial park in the Charleston region and possibly the state, and I think that would also qualify as potential the largest industrial announcement in Berkeley's history. It's staggering that Berkeley could potentially land TWO mega-industrial developments back-to-back.

Edited November 11, 2006 by krazeeboi

[SimCity]

I'm surprised that this hasn't already been posted in the Charleston forum. A recent report by the Milken Institute, a publicly supported economic think tank, has ranked the Charleston metro area as having the 22nd best economy of any city in the country, this is up from a ranking of 57 previously. This puts the Charleston economy ahead of cities such as San Antonio, Richmond VA, Miami, San Diego, Tampa, Raleigh, Charlotte and Greenville,SC. Apparently the low cost of conducting business, low taxes, along with a high quality of life and the huge tourism and shipping industry are major draws for corporations. There is however the problem of inadequate schools and the lack of adventure capital which threatens to stunt the brisk expansion of the regional economy. The article and the comparsion of Charleston to other cities can be seen here.

[CorgiMatt]

I'm surprised that this hasn't already been posted in the Charleston forum. A recent report by the Milken Institute, a publicly supported economic think tank, has ranked the Charleston metro area as having the 22nd best economy of any city in the country, this is up from a ranking of 57 previously. This puts the Charleston economy ahead of cities such as San Antonio, Richmond VA, Miami, San Diego, Tampa, Raleigh, Charlotte and Greenville,SC. Apparently the low cost of conducting business, low taxes, along with a high quality of life and the huge tourism and shipping industry are major draws for corporations. There is however the problem of inadequate schools and the lack of adventure capital which threatens to stunt the brisk expansion of the regional economy. The article and the comparsion of Charleston to other cities can be seen here.

The thing is - those figures reflect what was going on only as of 2004. Columbia's employment gains have moved ahead of Charleston's in the past year, according to the S.C. Employment Security Commission's reports through August of this year, and Columbia was just ranked #13 nationally for the number of job openings per 100,000 residents.

[Charleston native]

^ Ahh yes, another instance where Chas' shiny spot is overshadowed by Cola's...from CorgiMatt, of course. Almost right on cue.

[GvilleSC]

^ Ahh yes, another instance where Chas' shiny spot is overshadowed by Cola's...from CorgiMatt, of course. Almost right on cue.

[CorgiMatt]

^ Ahh yes, another instance where Chas' shiny spot is overshadowed by Cola's...from CorgiMatt, of course. Almost right on cue.

[krazeeboi]

Even though the stats rely on 2004 information, they probably reflect current reality as every economic ranking I've seen lately puts Charleston at the head of the pack in SC. From 57 to 22 is no small feat, no matter what year(s) we're talking about. Lack of venture capital, however, isn't just a problem for Charleston, but for ALL of our state's cities. At any rate, keep plowing ahead, Chucktown!

[randy1]

Okay fellas, let us remember that any good news for any city in SC is good news for us all. Obviously CorgiMatt is just as proud of Columbia as Charleston Native is of Charleston. And also understand that Charleston gets good news all the time...Columbia gets left out alot.

[krazeeboi]

Check out the Columbia subforum sometime; Columbia gets more than its fair share of good news, but this subforum is for Charleston to shine; for all practical purposes here, what's going on or not going on in Columbia or any other SC city is irrelevant.

Edited November 14, 2006 by krazeeboi

[Charleston native]

^ Well said, krazee. While Cola does have a strong economy, Chas consistently shows that its economy is as strong if not stronger than the other big cities in the state. The ranking that Milken gave the metro area is impressive to achieve in such a shorter period of time. The notoriety that the ranking gives Chas also helps the economy as well; more employers and companies consider these rankings when deciding on a relocation of HQ or expansion.

I am concerned with the potential problem that the report mentioned with the area's schools. While Dorchester and Berkeley Counties have fair to good school districts, the primary county of Chas (with the highest urban area concentration) still has poor schools in general. Hopefully the recent changes in the school board can change this.

I'm not as familiar with the other problem...what is adventure capital?

[krazeeboi]

I laughed when I read "adventure capital," as I think it should be "venture capital"--seed money available for start-ups.

[knightrider162]

^ Well said, krazee. While Cola does have a strong economy, Chas consistently shows that its economy is as strong if not stronger than the other big cities in the state. The ranking that Milken gave the metro area is impressive to achieve in such a shorter period of time. The notoriety that the ranking gives Chas also helps the economy as well; more employers and companies consider these rankings when deciding on a relocation of HQ or expansion.

I am concerned with the potential problem that the report mentioned with the area's schools. While Dorchester and Berkeley Counties have fair to good school districts, the primary county of Chas (with the highest urban area concentration) still has poor schools in general. Hopefully the recent changes in the school board can change this.

I'm not as familiar with the other problem...what is adventure capital?

The adventure capital confuses me.. here is the definition .. It seems we would be good in this regard due to our wealth of small businesses and wealthy individuals and business owners but I guess it would be that person's decision whether or not to offer their money up as that risky of an investment.

adventure capital is just a riskier form of venture capital...

Edited November 14, 2006 by knightrider162

[goodbye]

One of the very best companies to be employed by, Google, is looking at property in Goose Creek for an expansion. Very few details have been released yet, from what I can tell. If anyone has more info, please tell us.

[gs3]

One of the very best companies to be employed by, Google, is looking at property in Goose Creek for an expansion. Very few details have been released yet, from what I can tell. If anyone has more info, please tell us.

This is great!! To have such a company represented in South Carolina is a real plus. I haven't heard anything.

[vicupstate]

One of the very best companies to be employed by, Google, is looking at property in Goose Creek for an expansion. Very few details have been released yet, from what I can tell. If anyone has more info, please tell us.

What is your source ?

[MikesLogic]

Post & Courier reported it in todays newspaper, link to article in quote. This is project Y that Berkeley County has been talking about.

Some exciting news in the P&C about a tech company possibly locating to a business park in Goose Creek. I'll post a bit on it later when the article is on their website if no one else has.

---

Googling the Lowcountry

Google said Wednesday it is considering an expansion into Berkeley County.

The Mountain View, Calif.-based Internet company would not elaborate on its plans, but spokesman Barry Schnitt confirmed Google is looking at the Goose Creek area.

Last week, a newly formed entity named Maguro Enterprises paid nearly $17 million for about 520 acres in Mount Holly Commerce Park...

the deal could lead to a $1 billion investment in Mount Holly Commerce Park and could create up to 800 jobs earning an average of $90,000 a year.

'The rumor mill says it's Google,' Harmon said Wednesday.

Very intriguing I hope everything works out and they do set up shop there.

[SimCity]

This is definitely exciting news and I don't want it to seem like I am denigrating the possible Goose Creek site but it seems like the Digital Corridor that the city of Charleston is developing on Daniels Island would be a promising area for such a development. Plus, with the Daniel Island location, Berkeley County would still benefit from the possible tax income Google would generate.

[knightrider162]

This is definitely exciting news and I don't want it to seem like I am denigrating the possible Goose Creek site but it seems like the Digital Corridor that the city of Charleston is developing on Daniels Island would be a promising area for such a development. Plus, with the Daniel Island location, Berkeley County would still benefit from the possible tax income Google would generate.

Goose Creek also had an older development with the Mount Holly Business Park but other that that it might be because the land might be cheaper just outside of Goose Creek.. who knows why.. but wasnt there also some secret on Daniel Island??

[SimCity]

Knightrider, you have an excellent point with the cost of land near Goose Creek being much cheaper than a possible Daniel Island site. I guess this would be doubly so if Google is considering a campus-style development. I don't recall any "secret" Daniel Island plans but I have noticed a rather large structure going up between Daniel Island and Clements Ferry Rd. that resembles an office building. Hopefully someone has more information on these developments.

Edited December 24, 2006 by SimCity

[GvilleSC]

This sounds amazing! Best of luck to ya!!! I hope this happens.

[MikesLogic]

Proximity to large amounts of water and abundant power were one of the requirements for the project.

[krazeeboi]

The article in The State said that rumor has it that the company could have two operations in the state. That would be awesome.