Economic developments in the Charleston metro area

[goodbye]

This P&C article talks about the potential for a "Southern branch of Wall Street", which some financial executives hope will be located in Charleston, SC. Edited October 3, 2010 by Skyliner

[Spartan]

Someone will need to talk to Charlotte about that title, but it's good to see Charleston getting some more FIRE sector love. Hopefully they can get a nice downtown location on Broad St (or wherever) to set up shop... but my bet would be that they locate their offices in Mount Pleasant.

[krazeeboi]

Tryon Street in Charlotte is the "Southern branch of Wall Street." Charleston would be better suited simply trying to beef up its financial sector instead of trying to be something that another regional city already is.

[Spartan]

I disagree. I am glad to see this type of industry grow in South Carolina. I don't expect any city will ever have a "wall street" title, unless it's only a state-wide designation (ie: the Wall Street of South Carolina), but I like the attitude that is being shown. How would this fare in the SC economic clusters plan? I don't recall if a 'banking' city/region was designated or not.

[Spartan]

The IMO Group, a German company that makes rings used in wind turbines, construction machinery, and ship building, will be opening its first American plant at an industrial park in Dorchester County. The plant will eventually employ 190 workers and represents a $47 million investment. IMO is the first business whose arrival can be credited at least in part to the recent announcement that Clemson University Restoration Institute will build a $98 million state-of-the-art wind turbine drivetrain testing facility on the former Navy base in North Charleston.

Clemson University's wind turbine facility is breaking ground today. Very exciting!

Post & Courier

[krazeeboi]

I disagree. I am glad to see this type of industry grow in South Carolina. I don't expect any city will ever have a "wall street" title, unless it's only a state-wide designation (ie: the Wall Street of South Carolina), but I like the attitude that is being shown. How would this fare in the SC economic clusters plan? I don't recall if a 'banking' city/region was designated or not.

Even the writer of the article conceded that Charlotte already has the designation that Charleston is somewhat seeking:

Moreover, the established hub of the Southeast's financial industry is some 200 miles away, in Charlotte.

There's no need for Charleston to try and duplicate what a nearby city has already done; that wouldn't be too smart IMO. Like I said, instead it should just seek to shore up its banking/finance sector however it can. Maybe that's what IS being done here, but the whole "Southern branch of Wall Street" thing is a really cheesy way to put it.

In other news, Robert Bosch LLC, a leading automotive supplier in North America, plans to expand its Dorchester County operations. Over the next five years, Bosch will invest approximately $125 million in the company’s manufacturing facility in Dorchester County and create approximately 300 new jobs.

[krazeeboi]

Regal Logistics, a third party logistics company, will establish its new distribution center in Berkeley County. The multi-million dollar investment is expected to generate 30 new full-time jobs, and 50 to 100 seasonal jobs. Regal Logistics’ new distribution center in Berkeley County at 1980 Technology Road in a 351,000-square-foot existing building is designed for high-volume, quick-turnaround, retail-compliant shipping. It is centrally located three miles from I-526, four miles from Port of Charleston’s main Wando Welch Terminal, and offers foreign trade zone and drayage zone status for less expensive container transportation to ports.

[krazeeboi]

Geocent LLC, a New Orleans-based defense and information technology company, will open its new facility in the Lowcountry Innovation Center in North Charleston in January. The $2 million investment is expected to generate 100 new jobs. The company will provide support to the Space and Naval Warfare Systems Center Atlantic.

[jmmiller]

Economic Developments Under Way to Make Charleston a Worldwide Fashion Destination

• Top designers are setting up have set up shop on King Street, recently named one of the Top 10 shopping streets in America.
  
• Rosanna Krekel, a Lowcountry transplant from New York City, has launched a drive to put Charleston on the map as a fashion destination on par with New York, Paris and Milan.
  
• She's the regional director of Fashion Group International Charleston, a local nonprofit aiming to lure major designers to the city, establish an education component and possibly attract fashion- related business ventures to the Lowcountry.
  
• There are only 36 regions around the world with the Fashion Group International designation. Charleston is one of them.
  
• By joining the group, the Holy City is listed in the worldwide directory and members begin to exchange information.
  
• The city will attract well-versed speakers who can talk on big-picture issues such as retail, beauty and design, further punctuating the city as a place to do business in the fashion world.
  
  
  With the infrastructure in place, Krekel believes in five years Charleston will be as well known for fashion as it is for food, culture and tourism today.
  "What Spoleto has done for the arts here, Charleston could do it with fashion," she said. "I see us one day hosting international conferences. We love, love, love the city. We think it's the closest thing to Europe in America with its beauty and Old World charm."
  

http://www.postandco...on-fashion-map/

Edited January 31, 2012 by jmmiller

[vicupstate]

http://www.postandcourier.com/news/2012/mar/15/new-company-moving-old-north-charleston-city-hall/

330 new jobs going into the old N. Charleston City Hall

[krazeeboi]

Economic Developments Under Way to Make Charleston a Worldwide Fashion Destination

• Top designers are setting up have set up shop on King Street, recently named one of the Top 10 shopping streets in America.
  
• Rosanna Krekel, a Lowcountry transplant from New York City, has launched a drive to put Charleston on the map as a fashion destination on par with New York, Paris and Milan.
  
• She's the regional director of Fashion Group International Charleston, a local nonprofit aiming to lure major designers to the city, establish an education component and possibly attract fashion- related business ventures to the Lowcountry.
  
• There are only 36 regions around the world with the Fashion Group International designation. Charleston is one of them.
  
• By joining the group, the Holy City is listed in the worldwide directory and members begin to exchange information.
  
• The city will attract well-versed speakers who can talk on big-picture issues such as retail, beauty and design, further punctuating the city as a place to do business in the fashion world.
  
  
  With the infrastructure in place, Krekel believes in five years Charleston will be as well known for fashion as it is for food, culture and tourism today.
  "What Spoleto has done for the arts here, Charleston could do it with fashion," she said. "I see us one day hosting international conferences. We love, love, love the city. We think it's the closest thing to Europe in America with its beauty and Old World charm."
  

http://www.postandco...on-fashion-map/

Interesting. While I wish Charleston well in this effort, it's hard to tell how much progress will be made in this area with its "sister city" as a competitor down the coast a piece which has a solid art and design school in place.

[jmmiller]

Charleston metro area is eighth fastest growing in nation

• From April 2010 to July 2011, the Charleston-North Charleston-Summerville community grew by some 17,000 people, the Census Bureau reported.
  
• Fueling the growth has been the region’s good climate, relatively affordable housing costs and job opportunities, such as at Boeing.
  

http://www.postandcourier.com/article/20120406/UNKNOWN/120409459&slId=1

[ZUMAN]

CreateSpace, a company owned by Amazon, will be leasing the former North Charleston City Hall. Initially 200 employees will be moving into the building with the possibility of increasing to 350 employees. The city of North Charleston will be spending $2.5M to upfit the building to meet CreateSpace's needs.

http://www.charlestonbusiness.com/news/43592-amazon-company-leases-old-north-charleston-city-hall?rss=0

[jmmiller]

South Carolina is ambitious for more Boeing work

As they celebrate the rollout of South Carolina's first 787, local officials hope to quickly grow an aerospace cluster with vacant land, new roads and if necessary, financial incentives.

"...The new Boeing interiors facility opened in December is on Palmetto Commerce Parkway, a four-lane road finished just a year ago. Along the parkway's six-mile length, there are multiple turnouts that lead only to wooded land primed for commercial development.

Beside the Boeing interiors facility, a cluster of businesses has already developed. Next door, Daimler is assembling commercial vans. Across the street, Venture Aerobearings makes bearings for jet engines.

Adjacent to Venture, ground has been broken for a 110,000-square-foot airplane-structures plant for TIGHitco, a supplier to Boeing and other aerospace companies, that will bring 350 new jobs...."

http://seattletimes.nwsource.com/html/businesstechnology/2018081740_boeingscfuture28.html

[jmmiller]

Economic Developments Under Way to Make Charleston a Worldwide Fashion Destination

• Top designers are setting up have set up shop on King Street, recently named one of the Top 10 shopping streets in America.
  
• Rosanna Krekel, a Lowcountry transplant from New York City, has launched a drive to put Charleston on the map as a fashion destination on par with New York, Paris and Milan.
  
• She's the regional director of Fashion Group International Charleston, a local nonprofit aiming to lure major designers to the city, establish an education component and possibly attract fashion- related business ventures to the Lowcountry.
  
• There are only 36 regions around the world with the Fashion Group International designation. Charleston is one of them.
  
• By joining the group, the Holy City is listed in the worldwide directory and members begin to exchange information.
  
• The city will attract well-versed speakers who can talk on big-picture issues such as retail, beauty and design, further punctuating the city as a place to do business in the fashion world.
  
  
  With the infrastructure in place, Krekel believes in five years Charleston will be as well known for fashion as it is for food, culture and tourism today.
  "What Spoleto has done for the arts here, Charleston could do it with fashion," she said. "I see us one day hosting international conferences. We love, love, love the city. We think it's the closest thing to Europe in America with its beauty and Old World charm."
  

http://www.postandco...on-fashion-map/

Charleston Garment Manufactory set to open doors

"The dream is to create a resource for fashion designers and individuals to use in developing and producing their clothing", said owner Heather Konnse. She hopes that the Manufactory will be an aid for drafting, consultations, garment construction, and education — aiming to streamline the Charleston designer experience.

http://charleston.thedigitel.com/arts-culture/charleston-garment-manufactory-gets-funded-39101-0427

[jmmiller]

Charleston Metro Area Ranked #1 in U.S. for Growth of Manufacturing Jobs

• The Charleston-North Charleston-Summerville metro area ranked first nationally in manufacturing jobs growth from 2010 through 2011, according to a report by the Brookings Institution.
  
• Manufacturing jobs grew by 14.4% in the Lowcountry; nationally, manufacturing jobs grew by 2.7% for the same period. The metro area also outpaced the national average for the number of employees per plant. Local plants employ about 80.5 people per plant versus the national average of 39.9, according to 2009 figures.
  
• Lowcountry manufacturing jobs also pay higher wages than national averages for those jobs, according to the study. “Very high-tech” manufacturing jobs average $100,360 here; while “moderately high-tech” manufacturing jobs pay $68,216, and all manufacturing jobs pay an average of $65,779.
  
• The top three industries in the Charleston area are motor vehicles and parts, primary metals and machinery.
  
• In the study, the Brookings Institution ranked the top 100 metro areas in manufacturing categories. It compiled the study from Moody’s Analytics data.
  

“Charleston is growing manufacturing jobs at a faster rate than any other metro in the country because this region offers the expertise and strategic global connections needed to compete in America's renewed manufacturing age," said David Ginn, CEO for the Charleston Regional Development Alliance, in a news release.

http://charlestonbusiness.com/news/43986-lowcountry-ranks-no-1-for-growth-of-manufacturing-jobs

[krazeeboi]

The Boeing effect has been pretty strong in the Lowcountry.

[Amapper]

One additional piece of good news connected with Boeing's new plant here is that a large number of it's employees are local folks, putting to rest the assertion that most of the jobs would go to outside workers.

[krazeeboi]

One additional piece of good news connected with Boeing's new plant here is that a large number of it's employees are local folks, putting to rest the assertion that most of the jobs would go to outside workers.

It's good to hear that, but I'd like to get my hands on a source that breaks down the percentage of jobs that went to outside workers.

[jmmiller]

Introducing ‘Silicon Harbor’: Charleston, SC, Home Of TwitPic And Amazon's CreateSpace

Despite being the 75th largest metro area in the U.S., Charleston is ranked in the top 10 fastest growing cities for software and Internet technology. Here's why.

http://www.fastcompany.com/1839445/charleston-silicon-harbor

[jmmiller]

Economic development in Charleston is showing signs of picking up

"As reported in recent weeks, Charleston County has two decent-size fish on the line with hopes of landing them soon. While they haven't been identified publicly yet because of confidentiality agreements, Project Aries and Project Quality are looking to invest a combined $76 million and create more than 180 jobs.

Dorchester County Council last month approved an incentive package for a previously announced $200 million expansion of the Showa Denko Carbon plant in Ridgeville that's expected to create about 90 jobs. In Berkeley County, officials this week are holding a recognition event to welcome several new employers, led by the high-voltage cablemaker Nexans. The French company is shelling out $85 million to build a 200-worker plant in the Bushy Park Industrial Complex.

More may be coming based on activity at the development alliance, which markets the three counties to new and expanding businesses."

Edited June 10, 2012 by krazeeboi
Do not post entire articles, only relevant excerpts

[ZUMAN]

A major new commerical/retail development in North Charleston is scheduled to be announced tomorrow at 1:00PM. The project will involve 450 acres in the area of Interstate 26 and Ashley Phosphate Rd and will be developed by The Weiser Companies, the developer of Centre Pointe which includes Tanger Outlets.

http://www.charlestonbusiness.com/news/13011-major-commercial-and-retail-project-coming-to-north-charleston

[Infinite1]

A major new commerical/retail development in North Charleston is scheduled to be announced tomorrow at 1:00PM. The project will involve 450 acres in the area of Interstate 26 and Ashley Phosphate Rd and will be developed by The Weiser Companies, the developer of Centre Pointe which includes Tanger Outlets.

http://www.charlesto...orth-charleston

That would be the next phase of Ingleside....http://www.urbanplanet.org/forums/index.php/topic/48196-ingleside-tract-project/

[jmmiller]

Does anyone have further details regarding the announcement that was made on Tuesday about the Ingleside development? Can't find any news articles about the announcement.

[ZUMAN]

Does anyone have further details regarding the announcement that was made on Tuesday about the Ingleside development? Can't find any news articles about the announcement.

Was there announcement on Tuesday? The only announcement I saw was from Monday that I posted above but I haven't seen any updates since Monday. I got thrown-off with the Monday announcement stating that the development was in the area of I-26 and Ashley Phosphate. I think of Inglewood as being more in the area of I-26 and Hwy 78 but I realize these intersections are close to each other.

I just returned from a 3-day visit to Charleston and didn't hear a word about the Inglewood project. Maybe someone jumped the gun on Monday's announcement.