Business Black Box Magazine Q2 2013

Page 70

According to data from the U.S. Census

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South Carolina has long been known for manufacturing, and the counterpart of making materials that will be used around the world is that they must also be shipped around the world. Enter the Port of Charleston. While it’s physically based in the Lowcountry, the largest exports through the port actually come from the Upstate. “Manufacturing is a big thing we have in common,” says Bingham. “They are making BMWs in the Upstate, and they are shipping them through our port in Charleston. That’s one of the most direct correlations we have.” Add in the acquisition of Boeing, and the port of Charleston quickly becomes one of the biggest factors in the community that both regions share. In fact, 70 percent of the planes made at Boeing will go to other countries, Bingham adds, and at 10 planes a month and a couple hundred million dollars each, South Carolina’s export status takes another huge leap. “You can just do the math to see how it would increase exports, even if we did nothing else,” Bingham says. Because of this, Charleston is one of only eight cities in the nation to currently be working on a Metropolitan Export Strategy—a result of President Obama’s spoken desire to double U.S. exports. “We’re learning that 70 percent of the economic development is happening outside of the U.S.,” Bingham says. “We are recognizing in our region, that to be competitive, and to grow, we have to look outside of our area. And that’s not just outside of Charleston, or outside of the state or the Southeast…it’s outside of our country.” Interestingly enough, while most people thinking exports associate it with large manufacturers, the strategy the Bingham mentions actually focuses on smaller businesses with little export experience. “Traditionally, Americans sell to each other; the market is big enough,” says Bingham. “It was only the more sophisticated…the larger companies—the multinationals—that knew how to do it. Small companies said ‘Well, let me branch out from Charleston to North Charleston, then to North Carolina.’ We’re saying, ‘No, look at all these places at the same time.’” Eventually, Bingham notes, the Upstate Alliance will take the Charleston strategy as a model to build one of their own for the 10-county region at the top of the state. And with the newest addition of the inland port in Greer—a sprawling area near Greenville Spartanburg International airport that will allow local manufacturers to speed up and simplify their exports through the Charleston port—it will be much needed.


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