CHARLESTON’S REGIONAL ECONOMIC STRATEGIES
Since 1995, the Charleston Regional Development Alliance has led six distinct regional strategies.
Recruit jobs; diversify the economy
Recruit higher wage jobs; add technology sector
Cluster-based strategy; increase competitiveness
Compete globally; connect economic community & workforce development
Strengthen global competitiveness; build thriving industry cluster ecosystems; attract high-skill talent
Align regional work to promote economic prosperity with opportunities for all; companion strategy focused on:
· Industry clusters
WHO IS CHARLESTON REGIONAL DEVELOPMENT ALLIANCE?
DRIVING REGIONAL PROSPERITY
Charleston Regional Development Alliance (CRDA) has served as a catalyst for sustainable economic prosperity in Berkeley, Charleston and Dorchester counties since 1995. CRDA continues to deliver impactful results through convening and collaborating with the most inﬂuential business, government and academic leaders in our community to attract the world’s best companies and talent.
Our current economic development strategy was ﬁnalized in early 2022 and is now serving as a framework for CRDA’s work plan. The recommendations speciﬁcally focus on our region’s economic cluster and innovation ecosystems. Innovation advancement, from process improvement to disruptive technology, will be embedded throughout CRDA’s regional economic development activities over the next ﬁve years.
“CRDA and leaders in the Charleston region have made a strategic investment for equitable prosperity through constant emphasis on innovation, talent and sustainability. It will be an exciting year as this new strategy is executed, and we continue to celebrate impactful economic development wins that provide meaningful employment opportunities for our residents.”MICHAEL FULLER, CRDA CHAIRMAN PRESIDENT & CEO, BERKELEY ELECTRIC COOPERATIVE
FY 2021-2022 RESULTS BY THE NUMBERS
| 2011- 2021
Source: SC Dept. of Revenue
Source: US Bureau of Labor Statistics
Source: US Bureau of Economic Analysis & JobsEQ
Charleston now has the deepest harbor on the United States’ east coast Charleston region’s labor force grew to 407,000 (+3% over 2021)
SC listed #3 among “Top States for Doing Business” by Area Development
SC’s workforce development program ranked in the top 3 by Area Development
SC named among the “Best States for Manufacturing” by Site Selection Group
CHS named among top 20 “Cities with the Fastest Growing High-Tech Sectors” by 24/7 Wall St.
One Region Roadmap is an economic recovery and resiliency plan for the 3-County Charleston region. It is guided by input from community leaders and local residents, and the Roadmap’s ultimate success will lie in its ability to provide positive and meaningful impacts on people’s lives.
This effort is made possible through a U.S. Economic Development Administration grant secured by the Berkeley-Charleston-Dorchester Council of Governments, with additional support from partner agencies. The plan was developed by CRDA, the BCD Council of Governments, and the Charleston Metro Chamber of Commerce, along with input and support from partner agencies.
ECONOMIC CLUSTER & INNOVATION STRATEGY
CRDA leveraged this more comprehensive effort to develop a sub-strategy speciﬁcally focused on our region’s economic cluster and innovative ecosystems. The plan is designed to lay the groundwork for the next evolution of Charleston’s economy by bolstering innovation throughout the region.
EXPAND our global marketing & business attraction efforts
INTENSIFY our talent attraction efforts
FOSTER innovation within and across our region’s industry clusters
INCREASE our focus on resiliency and sustainability, which are crucial to attracting global companies
Our region competes with much larger markets for competitive investments, and our marketing and business development must be world-class.
Did You Know?
CRDA intensiﬁed our global outreach in late 2023 to better understand current trends, meet with prospects, and promote our region on a larger stage. Traveling with the South Carolina Department of Commerce, we visited Japan, South Korea and India. Germany, France and the United Kingdom were on the European circuit.
Access to skilled talent is a top consideration for nearly every business deciding between investment locations.
Did You Know?
Trident Technical College is collaborating with Bosch in re-skilling and up-skilling employees as part of the transition into electromobility. This will help the company’s local plant prepare its workforce for semiconductor chip-related manufacturing and other needs for the emerging electriﬁcation industry.
According to the U.S. Chamber, innovation fuels 50-60% of economic growth in high-performing regions.
Did You Know?
The Palmetto Tech Bridge (PTB) is partnering with the SC Council on Competitiveness to support innovation ecosystems that help develop critical capabilities. PTB is an initiative of the Naval Information Warfare Systems Command (NIWC) Atlantic with a focus on cybersecurity, data science and communications.
Resiliency & sustainability are now key investment considerations, especially for European & multinational corporations.
Did You Know?
Redwood Materials, a producer of battery components for electric vehicles, is establishing its Southeast operations in our region. The company will invest $3.5 billion into the region and create 1,500 new jobs. Redwood Materials will initially produce enough battery components from recycled materials for 1 million EVs each year.
FY 2022-2023 ANNUAL BUDGET
PUBLIC SECTOR 18% $698,000 SPECIAL GRANTS, PROGRAM REVENUE, OTHER
FY 2022-2023 REVENUE
Includes funds received through the Catalyst Foundation
CRDA’s organizational program of work includes Global Business Development / Marketing, Research & Business Intelligence, and Engaged Leadership. These charts provide a snapshot of how we are allocating resources to fulﬁll our regional economic development mission.
FY 2022-2023 RESOURCE ALLOCATION
GLOBAL MARKETING/HIGH-IMPACT CLUSTERS
· Prioritize high-impact clusters and associated supply chains in project activity
· Enhance efforts to attract HQs, ﬁnancial services, and other ofﬁce projects
· Strengthen regional supply chain databases, lead generation resources, and other business intelligence tools
· Align digital marketing strategies, such as website, with new strategy
· Increase local and global awareness of high-demand jobs, training, and continuing education
· Expand Charleston Intern Network initiative
· Intensify in-market strategies targeting HR experts, area colleges, and transitioning military
· Continue as champion for a Charleston Innovation District
· Strengthen the entrepreneurial ecosystem
· Increase market intelligence on local innovation assets
· Spark and align connections across sectors
· Increase market intelligence on local efforts
· Develop storylines for building awareness
· Continue collaboration with One Region partners
ECONOMIC LEADERSHIP COUNCI L*
COUNTY ECONOMIC DEVELOPMENT PARTNER S
The CRDA is a true alliance of business, government, and higher education working together to drive a sustainable, competitive economy for the Charleston region. Below is a recognition of entities who have stepped forward to help lead and fund this collaborative.
Elliott Davis, LLC
Jarrard, Nowell & Russell, LLC
ARCHITECTURE & ENGINEERING
Alliance Consulting Engineers, Inc.
Davis & Floyd, Inc.
Dolphin Architects & Builders
GEL Engineering, LLC
HRP Associates, Inc.
Hussey Gay Bell
Life Cycle Engineering
McMillan Pazdan Smith Architecture
Thomas & Hutton
Burr & Forman LLP
Haynsworth Sinkler Boyd, PA
K&L | Gates LLP
Moore & Van Allen
Nelson Mullins Riley & Scarborough LLP
Nexsen Pruet, LLC
Shumaker, Loop & Kendrick, LLP
Womble Bond Dickinson (US) LLP
BANKING & FINANCIAL SERVICES
Bank of America
Fifth Third Bank
First Capital Bank
First Citizens Bank
First National Bank
JPMorgan Chase & Co.
Pinnacle Financial Partners
REV Federal Credit Union
Southern First Bank
United Community Bank
BUSINESS & EMPLOYMENT SERVICES
Human Technologies, Inc. (HTI)
MAU Workforce Solutions
CHAMBERS OF COMMERCE
Charleston Metro Chamber of Commerce
Greater Summerville/Dorchester County Chamber
CONSTRUCTION & CONTRACTORS
Banks Construction Company
Evans General Contractors
Hill Construction Corp.
HITT Contracting Inc.
Hood Construction Company, Inc.
JE Dunn Construction Company
O.L. Thompson Construction Company
Thompson Turner Construction
Whiting-Turner Contracting Company
South Carolina Research Authority (SCRA)
EDUCATION & TRAINING
Charleston Southern University
College of Charletson
Lowcountry Graduate Center
Trident Technical College
University of South Carolina
The Darla Moore Foundation
GOVERNMENT & AGENCIES
City of Charleston
City of Goose Creek
City of North Charleston
Town of Mount Pleasant
Town of Summerville
Holy City Med Urgent & Primary Care
Medical University of South Carolina (MUSC)
Roper St. Francis Healthcare
HOSPITALITY & ENTERTAINMENT
Daniel Island Golf Club
Francis Marion Hotel
Booz Allen Hamilton
BlueCross BlueShield of SC
State Farm Insurance - Tony Pope
Charles Towne Holdings, LLC
Excelloran Holdings, LLC
Fennell Holdings, Inc.
The InterTech Group
Charles River Laboratories
Boeing South Carolina
Charleston Steel and Metal
KION North America
Resonic Graphite America Inc.
Robert Bosch LLC
Volvo Car USA
Charleston Branch Pilots Association
MEDIA & COMMUNICATIONS
Blue Ion, LLC
REAL ESTATE & DEVELOPMENT
The Beach Company
Carolina One Real Estate
CB Richard Ellis
Charleston Trident Association of Realtors®
Coldwell Banker Commercial Atlantic
Cushman & Wakeﬁeld
Highland Resources, Inc.
Lee & Associates - Charleston
Mainline Development Partners
Navy Yard Charleston
Pratt & Co. at RE/MAX Pro Realty
Raven Cliff Company, LLC
South Street Partners
SunCap Property Group
UTILITIES & ENERGY
Berkeley Electric Cooperative
Carolina Gas Transmission
Charleston Water System
South Carolina Power Team
CHARLESTON OPEN SOURCE
Booz Allen Hamilton
Lowcountry Graduate Center
2022-2023 LEVELS OF ENGAGEMEN T
2022-2023 LEVELS OF ENGAGEMENT
Minimum of 1 “one-on-one” visit with a member of key CRDA sta annually
Opportunity to participate in 1 or 2 business or talent attraction events, mission trips or tradeshows annually at the invitation of CRDA.*
Inclusion in special invitation-only events
Opportunities to serve as co-host for international visits and/or site selectors*
Minimum 1 visit with CRDA President & CEO per year
Top local executive invited to attend an Economic Leadership Council annual update Executive Dinner
Eligibility to serve on a CRDA Taskforce and/or Special Initiatives Committee
Eligibility for Talent Attraction Council
Opportunity to serve on CRDA Board of Directors (CEO or most senior executive)
Eligibility for election to CRDA Executive Committee
Eligibility to serve on Business Development Advisory Council~
Opportunity to serve on Economic Leadership Council BRAND
Opportunity for recognition at CRDA events and sponsorship of special CRDA initiatives
Recognition as investor on CRDA website, social media, and in marketing materials
Special recognition at CRDA Leadership Luncheon
Co-branding in special digital marketing pieces
EVENTS & NETWORKING
Invitation(s) to Quarterly Investor Brie ngs
Invitation(s) to exclusive Investor-only events
Invitation to present as subject matter expert at CRDA events*
Twelve @ 12
Digital subscriptions to monthly News Updates
Invitations to sector-speci c updates
Opportunity to participate in an Investor Roundtable with CRDA sta
Access to customized market research services*
“The steps we collectively take today will impact our region’s economic prosperity for generations to come. By bringing together the top business, government, and academic leaders, the Charleston Regional Development Alliance is truly shaping the future of this region.”MARY THORNLEY, Ed.D. PRESIDENT, TRIDENT TECHNICAL COLLEGE
email@example.com | crda.org