Business Profile
The strength of a regional economy is reflected not just in the businesses that exist within it, but in the resources, relationships, and infrastructure available to help them grow. This category examines the conditions that support entrepreneurs, attract investment, and build a more competitive business environment over time.
Access to capital is one of the clearest signals of a region’s economic maturity. It reflects investor confidence, entrepreneurial ambition, and the depth of an ecosystem that can turn ideas into scalable businesses.
Charleston ranked among the top 50 U.S. metros for venture capital deal count in the National Venture Capital Association (NVCA) 2025 Yearbook, with 27 deals recorded in 2024. Adjusted for population, the region rises to 32nd nationally in venture capital deals per 100,000 residents.
Venture capital by dollar volume remains an area where Charleston has room to grow. Attracting larger investment at scale is a priority for the region’s economic development and innovation leadership, and the trajectory of deal activity suggests the foundation for that growth is being built.
(Jacksonville did not rank in the top 50)
Photo Courtesy of Catalyst by Beemok
Human Capital and Knowledge Creation
WORKFORCE WITH FOUR YEARS OR MORE OF HIGHER EDUCATION
A region’s long-term innovative capacity rests on the strength of its people. This category examines the educational attainment, workforce skills, and knowledge-generating activity that fuel a more competitive, innovation-driven economy over time.
Innovation runs on talent. The ability to attract, develop, and retain a skilled workforce is among the most reliable indicators of a region’s long-term economic trajectory.
In 2024, nearly half of Charleston’s workers (46.9%) held a bachelor’s degree or higher, surpassing the national average of 41.7%. This represents a 10-point increase since 2001.
The numbers reflect a talent base that has been growing steadily for more than a decade.
Since 2017, local institutions including MUSC, College of Charleston, The Citadel, Charleston Southern University, Trident Technical College, and Clemson University have launched more than 40 new STEM degree programs. Together, these institutions enroll nearly 48,700 students, graduate approximately 9,000 students annually, and contribute to a growing research ecosystem. Regional university research and development expenditures reached $335 million in 2024, a 17% increase over the past three years.
16.2% of Charleston’s workforce holds a graduate or professional degree, above the national average of 15%.
Employment and Productivity
HIGH-TECH PRODUCTIVITY (OUTPUT PER WORKER), 2025
Economic growth means little if it does not translate into real opportunity. This category examines how the region’s workforce is growing, how productively it is performing, and what that output reveals about the maturity and direction of Charleston’s innovation economy.
Charleston’s workforce of 423,792 is the smallest among peer metros in this report, yet the region generates more tech output per worker than the majority. This level of productivity suggests that Charleston’s innovation economy is generating significant value through a combination of specialized talent, industry expertise, and high-performing firms operating across the region.
These outcomes reflect years of consistent, compounding growth that have strengthened the region’s innovation ecosystem and high-tech workforce over time.
Charleston’s growth is supported by a diverse mix of industries. Over the past five years, 57% of job growth has been concentrated across five key sectors:
and
Economic Well-being
CHANGE IN MEDIAN HOUSEHOLD INCOME, 2019-2024 (ADJUSTED FOR INFLATION)
INNOVATION IN PRACTICE
The data in this report reflects a regional economy that has been building steadily for more than a decade. Behind every indicator are companies and people who are choosing Charleston, investing here, and growing here.
Want to continue exploring innovation in the Charleston region? Discover additional insights, data, and resources from our regional innovation partners.
A thriving economy should improve the lives of the people within it. This category measures how regional growth is translating into real gains for Charleston residents, through rising incomes, declining poverty, and an improving standard of living.
The measure of a strong economy is whether it reaches people. Charleston’s poverty rate dropped a full percentage point to 9% in 2024, outpacing the national decline to 12.1%. Over the past five years, the region has recorded the largest real increase in median household income among its peer metros, surpassing the national growth rate of 1.5%.
These trends reflect a regional economy whose growth, built over more than a decade, is reaching the people who live and work here.
HOUSEHOLD INCOME
$112k – Seattle | $102k – Raleigh | $100k – Austin $90k – Charleston | $89k – Nashville | $82k – Jacksonville
