2015 Charleston Market Facts

2015

MARKET FACTS Since January 2015

$1,050,760,000 invested and

5,867 jobs

announced in Berkeley, Charleston and Dorchester counties.

Sponsored by

LOWCOUNTRY NEWSROOM Managing Editor - Andy Owens aowens@scbiznews.com • 843.849.3142 Senior Copy Editor - Beverly Barfield bbarfield@scbiznews.com • 843.849.3115 Staff Writer - Liz Segrist lsegrist@scbiznews.com • 843.849.3119 Staff Writer - Ashley Heffernan aheffernan@scbiznews.com • 843.849.3144 Editorial Assistant - Steve McDaniel smcdaniel@scbiznews.com • 843.843.3123 Research Specialist - Melissa Verzaal mverzaal@scbiznews.com • 843.849.3104 Associate Editor, Special Projects - Jenny Peterson jpeterson@scbiznews.com • 843.849.3145 Senior Graphic Designer - Jane Mattingly jmattingly@scbiznews.com • 843.849.3118 Graphic Designer - Andrew Sprague asprague@scbiznews.com • 843.849.3128 Assistant Graphic Designer - Emily Matesi ematesi@scbiznews.com • 843.849.3124 MIDLANDS NEWSROOM Editor - Chuck Crumbo ccrumbo@scbiznews.com • 803.726.7542 Staff Writer - Chris Cox ccox@scbiznews.com • 803.726.7545 Special Projects Editor - Licia Jackson ljackson@scbiznews.com • 803.726.7546 UPSTATE NEWSROOM Editor - Matthew Clark mclark@scbiznews.com • 864.235.5677, ext. 107 News Editor - Don Fujiwara dfujiwara@scbiznews.com • 864.235.5677, ext. 106 Staff Writer - Bill Poovey bpoovey@scbiznews.com • 864.235.5677, ext. 104 Staff Writer - Teresa Hopkins thopkins@scbiznews.com • 864.235.5677, ext. 103 Graphic Designer - Kim Davenport kdavenport@scbiznews.com • 864.235.5677, ext. 115 LOWCOUNTRY ACCOUNT EXECUTIVES Senior Account Executive - Sue Gordon sgordon@scbiznews.com • 843.849.3111 Senior Account Executive - Robert Reilly rreilly@scbiznews.com • 843.849.3107 Account Executive - Sara Cox scox@scbiznews.com • 843.849.3109 Account Executive - Bennett Parks bparks@scbiznews.com • 843.849.3126

Welcome

An inflection point?

One of my traditional time-markers occurs when our editorial staff pesters me to write an introduction to Market Facts. Like most business owners, I have the bad habit of getting my head down in the weeds and not looking up until something or someone prods me to do so. Now that I’ve been prodded out of the weeds, I’m wondering if sometime in the future, we wouldn’t look back on 2015 and say that it was the year that the region officially changed. Not so much a change in strategic direction in economic development terms, but a change in the way we think about ourselves. Was this the moment in time when we stopped aspiring to be the next Austin, Raleigh, Everett, or Palo Alto? Was 2015 the year we stopped wishing we could be like somewhere else and realized that we could just be the best Charleston in the world — and that could be and would be more exciting than anything? Was it the moment in time when we realized that in the face of unspeakable acts of violence, some of the softest voices in the community could speak the loudest? Would this be the time when Charleston seized the momentum and moral high ground and took the lead in guiding the nation toward ending the enduring inequalities that have plagued this nation for hundreds of years? Was this the time when we took a long hard look around and decided we should become, well — us? Just wondering.

And if you are curious about the business community, here’s a big book full of trending facts to give Grady Johnson you some indication of where we are heading. When we came up with the original idea of publishing President and Group Publisher Market Facts, we envisioned it as a tool for our readers to use for new or updating existing business plans. It was actually born out of our need to gather facts and data to support our own expansion.

When we found out what a pain it was to find everything we needed, we had an epiphany: “Somebody ought to publish this stuff!” Of course, nobody hip and trendy actually writes out a business plan anymore. But you sure better do your research before you launch.

As this publication has grown, it has taken its place as the companion to our annual Book of Lists. The combination of the listings of the largest companies in most of the major business categories in the Book of Lists with the statistics and other data presented in Market Facts in chart, graph and table format gives you a pretty good grasp on what drives the region’s business community.

Our creative director, Ryan Wilcox, is a master at presenting complex information in a way that is pleasing to the eye and easily understandable, and Market Facts is his tour de force. Each year, Ryan and his team improve the layout by including more art, shading and highlighting important facts, and by adding footnotes and explanations to help make the data more user-friendly. Again this year, we engaged Veronica Watson, a graduate of USC’s Darla Moore School of Business with a master’s in economics, to do the research. Planning and editing this major project were Licia Jackson, special projects editor, and Andy Owens, managing editor.

I would also be remiss as I ponder the significance of 2015 if I didn’t point out that this is Mayor Joe Riley’s last year in office and to thank him for his leadership of this awesome place we call home. I also extend my best wishes to you in the year to come and hope Market Facts aids you in improving the performance of your business planning. Congratulations to our title sponsors, Trident Technical College, Kopis, LexView and Jameson Law, as well as all of our section sponsors and advertisers, for their leadership in enabling us to provide this valuable resource for the region’s business decision-makers.

Enjoy!

South Carolina’s Media Engine for Economic Growth President and Group Publisher - Grady Johnson gjohnson@scbiznews.com • 843.849.3103 Vice President of Sales - Steve Fields sfields@scbiznews.com • 843.849.3110 Creative Director - Ryan Wilcox rwilcox@scbiznews.com • 843.849.3117

SUBSCRIPTION INFORMATION

Director of Audience Development - Rick Jenkins rjenkins@scbiznews.com • 864.235.5677, ext. 112 Event Manager - Kathy Allen kallen@scbiznews.com • 843.849.3113 Audience Development & IT Manager - Kim McManus kmcmanus@scbiznews.com • 843.849.3116 Event Planner - Jacquelyn Fehler jfehler@scbiznews.com • 864.235.5677, ext. 113 Accounting Manager - Vickie Deadmon vdeadmon@scbiznews.com • 864.235.5677, ext. 100 CUSTOM MEDIA DIVISION Director of Business Development - Mark Wright mwright@scbiznews.com • 843.849.3143 Account Executive - Mariana Hall mhall@scbiznews.com • 843.849.3105

Charleston Regional Business Journal (USPS 0018-822) is published biweekly, 27 times per year, including one special issue in January, by SC Biz News.

P.O. Box 446, Charleston, SC 29402.

Periodicals postage paid at Charleston, SC. Mailing address: 1439 Stuart Engals Blvd., Suite 200 Mount Pleasant, SC 29464.

Postmaster: Send address changes to: Charleston Regional Business Journal, P.O. Box 446, Charleston, SC 29402

Annual subscribers receive 27 issues of the Business Journal including The Book of Lists and Newsmakers, plus four special supplements: Profiles in Business, Event Planning Guide, Market Facts, and Giving.

One year (26 issues) for $49.95; two years (52 issues) for $84.95; three years (78 issues) for $ 119.95.

Subscribe, renew, change your address or pay your invoice by credit card online at www.charlestonbusiness.com or call 843-849-3116.

SC Business Publications LLC A portfolio company of Virginia Capital Partners LLC Frederick L. Russell Jr., Chairman

The entire contents of this newspaper are copyright by SC Business Publications LLC with all rights reserved. Any reproduction or use of the content within this publication without permission is prohibited. SCBIZ and South Carolina’s Media Engine for Economic Growth are registered in the U.S. Patent and Trademark Office.

www.charlestonbusiness.com

1

Contents 20

4 Real Estate

34

46

40 Demographics

52

74 Regional Competitiveness

Import, Export and Distribution

86

80 Medical and Health Care

Education

Employment and Economic Development

68

60

Financial Services

Architecture, Engineering and Construction

Hospitality and Tourism

94 Business Resources

Source of the statistics on the front cover: S.C. Department of Commerce

2

www.charlestonbusiness.com

Government

Welcome from our sponsors

W

elcome to the Lowcountry.

This publication helps businesses like yours solve complicated challenges posed by business growth, market trends, and other factors. At Kopis, we do the same thing. We specialize in cutting through unique problems faced by advanced industries, through in-depth research, insight, and development of custom software solutions. If there’s a better way to do what you do, we’re the team to figure out how.

Our inspiration is Alexander the Great, who used a sword called a kopis to cut through the Gordian Knot, the great challenge of his time. He looked at challenges differently, just like we do for our clients. We hope this resource gives you a fresh perspective on your business, and we wish you luck in the future!

D

etermined to bring a client-focused philosophy and approach to legal assistance for businesses, Jameson Law was founded in Charleston to help build and protect corporations. Jameson Law is committed to establishing relationships with local companies and aims to reduce their potential or existing liabilities. Time after time, founding member Trey Jameson discovered most businesses needlessly expose themselves to costly liabilities by lacking a solid foundation in both the contracts forming the business and in poorly written contracts businesses rely on to serve their consumers.

Jameson created LexView to help companies realize and correct any potential costly liabilities that exist in their contracts.

LexView is a legal review resource providing awareness to companies regarding contract liabilities and a network of attorneys to review contracts for these issues. LexView looks forward to providing affordable legal solutions to the Charleston area.

Y

ou know us…you trust us…we’ve been your community partner in education for over 50 years.

We’re here for you when you’re ready to ENHANCE your career, EQUIP your workforce and EXPLORE new interests.

TTC’s Division of Continuing Education offers career training in health care, information technology, manufacturing and professional development. When you’re looking to learn a new hobby or take a class with a friend, we also have a variety of personal enrichment classes to engage your curiosity.

Wondering how to keep your children active and engaged in learning activities during the summer? Enroll them in TTC’s Kids’ College or Teen U where our educational camps offer a fun and safe learning environment and an opportunity to explore future career fields.

Does your company need to train employees in a cost-effective, time-efficient manner? Our Business Solutions team offers consultative and customized training designed with your business in mind.

Be sure to ask us about cost-saving tax incentives to help you save on training!

Andrew Kurtz President, Kopis Lawrence “Trey” G. Jameson III LexView LLC, Founder Jameson Law LLC, Founder & Attorney Bob Walker VP for Continuing Education and Economic Development, Trident Technical College www.charlestonbusiness.com

3

Real Estate The Charleston metro area continues to feel the economic bounce of residential and commercial real estate. While the numbers haven’t jumped double-digit percentage points in most areas like the previous year, nowhere is that bounce being felt more than in price.

Median closing prices for residential real estate in Charleston were $10,000 over the previous year. Apartment rentals, which fell below $750 a month in 2010, were 30.7% higher in 2014. Commercial real estate, particularly office space, continued an upward trend of $22.59 per square feet, up from $20.47 a year ago.

FAST FACTS

80

14,253

Average days on market for 2014 before a

Closings in 2014 in the Charleston area,

home sale in the Charleston area.

up 34% from 2012, and 8.8% from 2013.

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SECTION SPONSOR

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REAL ESTATE | www.charlestonbusiness.com

2014 Charleston area home sales at-a-glance Charleston Area Total Closed Sales

Berkeley County

14,253 (+8.8%)

Charleston County

7,608

Dorchester County

3,258

(+2.6%)

20.9%

29.7%

19.1%

20.8%

Days on Market

80

74

83

74

Percent of original price received

95.2%

95.9%

95.0%

95.8%

(Percent increase from 2013)

Percent new construction

(+17.3%)

2,638

(+10.8%)

Source: Charleston Trident Association of Realtors, 2014 Annual Report

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REAL ESTATE | www.charlestonbusiness.com

Charleston area median sales price Percent of original list price received Year end 2014 data

Year end 2014 data for Charleston

$215K

.1% 2 2 9 201

$205K +7.6%

- 3.1%

100%

11

$181K

from 2012

2

89 .9 20 %

$187K

$190K

% 2 .

5 9 14 % 20 4 .

4 9 013

+4.8%

from 2011

from 2010

2010

2011

2012

2013

2014

85% Source: Charleston Trident Association of Realtors 2014 Annual Report

www.charlestonbusiness.com | REAL ESTATE

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Days on the market until sale – Single-Family

– Condos

Market speeds up

140

Some sellers report homes being sold in just a few days, a trend that keeps prices stable or rising and fuels even faster sales in the residential market.

140 130 120 110 100 90 80 70 Jan. 2010

Jan. 2011

Jan. 2012

Jan. 2013

Jan. 2014 Source: Charleston Trident Association of Realtors 2014 Annual Report

Percentage of original asking price received – Previously Owned

– New Construction

102%

100.3%

100%

Percentage of original price received, new construction

98% 96%

93.9%

94%

Percentage of original price received, previously owned

92% 90% 88% 86% Jan. 2010

Jan. 2011

Jan. 2012

Jan. 2013

Jan. 2014 Source: Charleston Trident Association of Realtors 2014 Annual Report

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REAL ESTATE | www.charlestonbusiness.com

2014 sales by price range

2014 closed sales

$1,000,000 and over $400,000-$999,999 2,226 Sold

345 Sold

13,101

$0-$99,999 1,782 Sold

8,840

9,380 +6.1%

from 2010

2010

2011

10,637 +13.4%

14,253 +8.8%

+23.2%

from 2013

2013

2014

from 2012

from 2011

2012

Top 5 areas: Change in closed sales from 2013 Kiawah and Seabrook Islands..................................................... +31.8% Wando / Cainhoy Area.................................................................. +31.0% Goose Creek / Monck’s Corner Area...........................................+19.7%

$200,000-$399,999 5,172 Sold

$100,000-$199,999 4,737 Sold

Source: Charleston Association of Realtors 2014 Annual Report

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REAL ESTATE | www.charlestonbusiness.com

James Island.................................................................................. +17.2% Dorchester Road Corridor........................................................... +12.0% Source: Charleston Association of Realtors 2014 Annual Report

Distressed homes, 2014 Percentage of sales that were distressed in the Charleston area 28.8% 23.4%

Top Areas: Distressed market share

25.8% 18.0% 12.5%

2010

2011

2012

2013

2014

Median sales price As the percentage of toxic mortages and properties fall, foreclosures and short sales will have less of an impact on conventional sales.

Traditional: $228,000

Short sales: $145,000 Foreclosures: $126,900

-$83,000 -$101,100

St. George / Rural Dorchester County.................. 25.6% Folly Beach............................................................... 25.4% Rural Berkeley County.............................................23.7% Hollywood / Ravenel / Meggett Area..................... 23.3% Greater North Charleston......................................20.9% James Island............................................................18.2% Dorchester Road Corridor......................................14.5% Hanahan....................................................................14.4% Johns Island............................................................ 14.0% West Ashley Area.....................................................13.3% Goose Creek / Monck’s Corner Area..................... 12.4% Wando / Cainhoy Area............................................. 12.4% Greater Summerville Area...................................... 12.2% Edisto Area.................................................................11.4% Kiawah and Seabrook Islands............................... 10.3% Upper Charleston Peninsula..................................... 7.7% Sullivan’s Island..........................................................7.5% Downtown Charleston...............................................7.0% Isle of Palms............................................................... 6.6% Daniel Island..............................................................6.0% Lower Mount Pleasant.............................................. 5.6% Upper Mount Pleasant.............................................. 4.3% Source: Charleston Trident Association of Realtors 2014 Annual Report

www.charlestonbusiness.com | REAL ESTATE

11

Charleston area apartment market All information obtained from Real Data Charleston March 2015 publication

Average monthly rent in the Charleston area - March 2014 $975 $950

30.7%

Apartment units - March 2014 – Berkeley

Monthly rental rates increased by $229 from Feb. 2010 to Feb. 2015

– Charleston

8,585

$925

3,446

Summerville

$900

– Dorchester

Goose Creek

$875 $850 $825

5,293

$775

Mount Pleasant

8,281

1,389

West Ashley

$750 $725 Feb. 2009

4,888

North Charleston

$800

1,022

Feb. 2015

Downtown

James Island Source: Real Data, Charleston Apartment Index

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REAL ESTATE | www.charlestonbusiness.com

$1.42 – Average Sq. Ft.

– Average Rent/Sq. Ft.

1,200

– Average Rent

Charleston area average rental rates — March 2015 $1,300

$1.12

1,150

$1,250

$0.83

1,100 1,050

$1,200

$1.37

$0.91 $0.83

$1,150 $1,100

800

$900

750

$850

700 650

Downtown

Goose Creek

James /Johns Island

Mount Pleasant

North Charleston

988 $945

$950

983 $891

850

955 $794

$1,000

964 $1,372

900

1,065 $1,184

$1,050

1,047 $876

950

788 $1,076

Average Sq. Ft.

1,000

$0.96

Summerville

West Ashley

$800 $750

Source: Real Data, Charleston Apartment Index

www.charlestonbusiness.com | REAL ESTATE

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Charleston area apartment submarket leaders and laggards Submarkets

Leaders Laggards

Occupancy

James/Johns Island

Mount Pleasant

Unit Size

James/Johns Island

Central

Monthly Rent

Mount Pleasant

North Charleston

Rent per Square Foot

Mount Pleasant

North Charleston

Demand (Absorption)

Summerville

North Charleston

Development Activity

Mount Pleasant

Industrial data trends

Period Vacancy rate Net absorption

Average rental rate (nnn)

2015 Q2

7.10%

200,179

$4.55

2015 Q1

7.70%

500,127

$4.42

2014 Q4

8.40%

397,408

$4.41

2014 Q3

8.50%

293,641

$4.41

*Industrial buildings over 10,000 SF

Source: Real Data, Charleston Apartment Index, March 2015

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REAL ESTATE | www.charlestonbusiness.com

Source: Colliers International & CoStar

Retail data trends Office data trends

Average rental Period Vacancy rate Net absorption rate (nnn)

Average

rental rate Period Vacancy rate Net absorption (full service) 2015 Q2

9.80%

51,960

$22.59

2015 Q1

10.20%

221,623

$22.10

2014 Q4

11.50%

141,337

$21.67

2014 Q3

11.60%

51,918

$20.47

2015 Q2

5.20%

44,896

$16.63

2015 Q1

5.40%

3,409

$16.69

2014 Q4

5.50%

45,473

$16.56

2014 Q3

5.80%

127,864

$16.27

*Anchored Shopping Centers

*Office buildings over 10,000 SF Source: Colliers International & CoStar

Source: Colliers International & CoStar

www.charlestonbusiness.com | REAL ESTATE

15

Industrial Buildings Ranked by Available Square Footage

Available Square Feet

Clear Height (in feet)

Dock-Height Truck Doors

Wall Type

Year Built

Brokerage Firm

Broker Phone / Website

4500 Leeds Ave. North Charleston, SC 29405

892,000

25

6

Concrete

2012

Charleston Industrial

843-377-8383 www.charlestonindustrial.com

1125 Newton Way Summerville, SC 29483

494,184

32

56

Concrete

2007

CBRE

843-577-1157 www.cbre.com/charleston

5801 N. Rhett Ave. Hanahan, SC 29410

313,823

26

24

Concrete

1980

JLL, Jones Lang LaSalle

843-323-4201, 843-323-4201 www.us.jll.com, www.jll.com

175 McQueen Blvd.

Summverville, SC 29483

281,000

28

8

Metal

2001

CB Richard Ellis

843-577-1157 www.cbre.com

4500 Goer Drive North Charleston, SC 29406

274,800

24

2

Concrete

1965

Colliers International

843-723-1202 www.colliers.com

4 Crosspoint Drive North Charleston, SC 29420

273,000

30

10

Concrete

2015

Charleston Industrial

843-377-8383 www.charlestonindustrial.com

9801 Highway 78 Ladson, SC 29456

250,000

100

4

Metal

1968

JLL

843-323-4201 www.us.jll.com

3191 Ashley Phosphate Road North Charleston, SC 29418

247,850

21

4

Metal

1978

Colliers International

843-723-1202 www.colliers.com

1 Belt Drive Moncks Corner, SC 29461

240,000

13.5

4

Metal / Concrete

1950

CB Richard Ellis, CBRE

843-577-1157, 843-577-1157 www.cbre.com, www.cbre.com/charleston

1310 N. Jefferies Hwy Walterboro, SC 29488

240,000

22

4

Concrete

1956

Colliers International

843-723-1202 www.colliers.com

7555 Palmetto Commerce Parkway North Charleston, SC 29420

212,016

24

13

Metal

1989

Maybank Properties LLC

843-740-9202 www.maybankproperties.com

2440 Clements Ferry Rd Charleston, SC 29492

203,223

28

12

Metal / Concrete

1999

Colliers International

843-723-1202 www.colliers.com

2550 U.S. Highway 52 Moncks Corner, SC 29461

201,585

26

3

Metal

1980

CB Richard Ellis

843-577-1157 www.cbre.com

4531 Piggly Wiggly Drive North Charleston, SC 29405

183,535

26

31

Concrete

1980

CB Richard Ellis

843-577-1157 www.cbre.com

315 Ravenell Drive St. Stephen, SC 29479

177,609

22

10

Concrete

1964

Cushman & Wakefield

843-724-0100 www.thalhimer.com

320 Deming Way Summerville, SC 29483

170,000

28

6

Metal

1998

Lee & Associates

843-747-1200 www.lee-charleston.com

1588 Bushy Park Rd. Goose Creek, SC 29445

156,000

21

0

Metal

1994

Keller Williams Realty Charleston

843-817-3226 www.kwcharleston.com

9801-2 Highway 78 Ladson, SC 29456

144,000

90

0

Metal

1968

JLL

843-323-4201 www.us.jll.com

169 Dorien Dr. Andrews, SC 29510

124,000

22

4

Metal

2009

Lee & Associates

843-747-1200 www.lee-charleston.com

Address

Source: Colliers International. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to lists@scbiznews.com, fax to 843-849-3122 or go to www.tinyurl.com/joinourlists.

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REAL ESTATE | www.charlestonbusiness.com

Researched by Business Journal staff

2014 South Carolina area home sales at-a-glance South Carolina Total Closed Sales

Charleston area

9,777

10,244

(+13.1%)

(+4.6%)

(+7.9%)

Percent condos

(+8.0%)

8.3%

16.8%

7.0%

7.6%

Days on Market

119

80

141

82

Percent of original price received

95.9%

97.3%

91.9%

96.2%

Median sales price

Percent of original list price received

Year end 2014 data for South Carolina

Year end 2014 data for South Carolina

$144K - 2.2%

+3.7%

$160K +3.3%

+4.0%

from 2013

2013

2014

2011

100%

12

from 2012

from 2011

011

from 2010

2010

% 20 5 .

95 2013

94.

1 2 %

$147K

$149K

% 9 .

5 9 14

94 .

20 9%

$155K

18

Greenville area

12,986

50,994

(Percent increase from 2013)

Columbia area

2012

REAL ESTATE | www.charlestonbusiness.com

90% Source: South Carolina Association of Realtors, 2014 Annual Report

Sales by price range in S.C. $300,001 and above 8,294 Sold

$200,001-$300,000

$100,000 and below

9,864 Sold

12,605 Sold

$150,001-$200,000

$100,001-$150,000

9,397 Sold

10,834 Sold

Closed sales in S.C. 35,840

35,871 +0.1%

from 2010

2010

2011

40,129 +11.9%

47,281

50,994 +7.9%

+17.8%

from 2013

2013

2014

from 2012

from 2011

2012

Top 5 areas: Change in closed sales from 2013 Cherokee........................................................................................ + 37.2% North Augusta................................................................................+13.4% Charleston Trident..........................................................................+13.1% Beaufort.......................................................................................... +11.9% Western Upstate.............................................................................+9.8% Source: South Carolina Association of Realtors, 2014 Annual Report

www.charlestonbusiness.com | REAL ESTATE

19

Architecture, Engineering and Construction As growth and development trends up across the Lowcountry of South Carolina, architecture, engineering and construction remain channel marker industries that directly and indirectly impact growth in other sectors, creating economic activity in areas such as retail, business services and commercial real estate. Construction saw the highest growth across all job sectors year-over-year, the S.C. Commerce Department reported in June 2015, with 7.31% growth.

FAST FACTS

$361,646,000

4,195

Annual payroll for engineering services

Charleston-area housing construction

jobs in the Charleston area.

permits in 2014, up nearly 9% from 2013.

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CONSTRUCTION | www.charlestonbusiness.com

Architecture, Engineering and Construction Related occupations and wages, Charleston MSA, 2014

Architecture and Engineering Occupations

Construction and Extraction Occupations 12,760

Installation, Maintenance, and Repair Occupations 12,940

7,360

2014 total employment

2014 total employment

2014 total employment

$35.00 $18.15

2014 average hourly wage

2014 average hourly wage

$21.20

2014 average hourly wage Source: U.S. Bureau of Labor Statistics, Wages & Employment

22

ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

Construction jobs in S.C. (In thousands) 85 84 83 82 81 80

Construction jobs have been on the rise in S.C.

79 78 77 76 75 Jan. 2013

July 2013

Seasonally Adjusted (in thousands)

Jan. 2014

July 2013

Not Seasonally Adjusted (in thousands)

Jan. 2015 Source: Bureau of Labor Statistics

www.charlestonbusiness.com | ARCHITECTURE, ENGINEERING AND CONSTRUCTION

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Architecture and engineering employment, Charleston-North Charleston area, 2013 Employment area Architectural services Landscape architectural services Engineering services Drafting services Building inspection services Geophysical surveying and mapping services Surveying and mapping (except geophysical) services Testing laboratories TOTAL: Architectural, engineering, and related services

Paid employees for pay period including March Number of establishments 12 (number) 72 324 13 32 163 4,640 8 28 11 * 3 * 23 110 15 383 308 5,586

Annual payroll $21,910,000 $1,167,000 $361,646,000 $1,315,000 $1,241,000 * $4,559,000 $18,701,000 $411,915,000 *Unavailable Source: U.S. Census

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

Construction growth, 2015 over 2014

Growth in Housing Starts

Charleston Columbia

7.1%

Greenville

6.4%

S.C. construction employment growth

S.C. employment growth in construction, by type Construction of buildings

23.7%

5%

13.0%

Heavy and civil 0.8% engineering construction

Specialty trade 6.8% contractors

Source: Charleston Home Builders Association, economic impact report

www.charlestonbusiness.com | ARCHITECTURE, ENGINEERING AND CONSTRUCTION

25

Housing building permits - Berkeley County

- Charleston County

Housing construction costs

- Dorchester County

2,133

- Berkeley County

- Charleston County

- Dorchester County

2,119 $512M $477M

1,664

1,270 1,299

$361M

$270M

881

806 653

$198M

$221M $187M

620

$169M

$149M

$116M

469

2012

2013

2014 Source: U.S. Census

26

$336M

1,105

876

2011

$541M

ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

2011

2012

2013

2014 Source: U.S. Census

New construction homes for sale February 2010

Percentage of housing market that is new construction

Peak of new construction inventory

1,800

1,600

716

Drop in new construction inventory from peak

1,400

1,200

1,000 Jan. 2010

29.7% Berkeley County

19.1% Charleston County

20.8% Dorchester County

Dec. 2014 Source: Charleston Trident Association of Realtors

Source: Charleston Trident Association of Realtors

www.charlestonbusiness.com | ARCHITECTURE, ENGINEERING AND CONSTRUCTION

27

Housing Starts for South Carolina, 1988-April 2015 4,500

4,000

Great Recession Officially was from December 2007 to June

3,500

2009. Signs of the housing bubble began to appear in the first parts of 2006, as a rapid

3,000

decrease in housing starts was underway.

2,500

2,000

1,500

1,000

500

0

Jan. 1988

April 2015 Source: Federal Reserve Bank of St . Louis

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

Construction’s high-growth The S.C. Commerce Department’s June 2015 report showed that construction work saw the most year-over-year and month-to-month gains compared to other job sectors.

Constructing Jobs Employment for the construction sector continues to be one of the top job creators in Berkeley, Charleston and Dorchester counties and across South Carolina.

County

Construction jobs

Number of companies

Charleston 9,789

1,065

Greenville 9,055

1,060

Richland 6,015

586

Spartanburg 5,473

519

Lexington 5,454

691

Horry 4,937

814

Berkeley 2,673

298

Dorchester 1,423

256

Totals 44,819

5,289

89,500

1,619

Total construction employment

Number of construction

in S.C. as of June 2015, up 7.31%

companies in the Charleston

from one year ago.

metro area, employing nearly 14,000 workers.

Source: S.C. Commerce Department County Labor Market Analysis

Industry sector Job growth 2014 to 2015 Construction Business services Hospitality +3.88% Education/health +3.08% Trade/transit +2.34% Government +1.92% Information +1.13% Manufacturing +0.91% Finance -1.74% Mining, resources -2.56%

+7.31% +6.39%

Source: S.C. Commerce Department

Cost of construction lower than national average An index of commercial office construction costs shows South Carolina to be one of the lowest in the U.S. with the entire Southeast ranking below the national average.

State Cost Index (1=U.S. average) Alabama 0.89 Florida 0.97 Georgia 0.89 Kentucky 0.97 Mississippi 0.88 North Carolina 0.90 South Carolina 0.89 Tennessee 0.91

Source: S.C. Commerce Department

www.charlestonbusiness.com | ARCHITECTURE, ENGINEERING AND CONSTRUCTION

29

CHARLESTON UNDER CONSTRUCTION Cigar Factory

701 East Bay St., Charleston Owner: Cigar Factory Development LLC, Charleston Architecture firm: Stevens & Wilkinson, Atlanta General contractor: Trident Construction, North Charleston Engineering firms: Stevens & Wilkinson, Atlanta (mechanical/fire protection); 4SE Inc., Charleston (structural); Forsberg Engineering and Surveying Inc., Charleston (civil) Estimated completion date: May (core and shell); Summer 2015 (interior upfits) Estimated total cost of project: $18 million The project includes the rehabilitation of the existing 230,000-square-foot historic building into a mixed-use development including retail, restaurant, event and office spaces. In addition to the core and shell rehabilitation, interior upfits are being done for Garden and Gun magazine, Lee & Associates, Pure Insurance, 86 LLC, Enviromix and the Cedar Room event space.

Charleston Harbor Resort and Marina

24 Patriots Point Blvd., Mount Pleasant Developer/owner: Brothers Property Management, Coral Gables, Fla. Architecture firms: Glick Boehm Architects, Charleston; Seamon Whiteside & Associates, Mount Pleasant (landscape) General contractor: Hogan Construction, Charleston Engineering firm: Seamon Whiteside & Associates, Mount Pleasant (civil) Estimated completion date: Fall 2015 The new, 92-room boutique hotel is an expansion of the existing Charleston Harbor Resort and Marina. The facility will include multiple swimming pools overlooking Charleston Harbor, a spa, a tiki bar, pool cabanas and food service for outdoor dining.

Roper St. Francis Office Park

Palmetto Commerce Parkway, North Charleston Owner: Roper St. Francis Architecture firm: LS3P, Charleston General contractor: Trident Construction, Charleston Engineering firms: Thomas & Hutton, Mount Pleasant (civil); ADC Engineering, Hanahan (landscape); CMC Cary Engineering, Taylors (structural); DWG Consulting Engineers, Mount Pleasant (mechanical and fire protection); Camacho, Charlotte (food service) Estimated completion date: January 2016 Estimated total cost of project: $25 million This five-story building is approximately 130,000 square feet and will accommodate support services staff for Roper St. Francis. Program elements include training and meeting rooms, a cafeteria, a lobby and staff areas for services such as human resources, information technology, contact center and billing services.

Tides IV

155 Wingo Way, Mount Pleasant Developer/owner: East West Partners, Charleston Architecture firm: LS3P, Charleston General contractor: Brasfield & Gorrie, Atlanta Engineering firms: Seamon Whiteside, Mount Pleasant (civil and landscape); BW&A, Atlanta; Postcard from Paris, Greenville (interior design) Estimated completion date: Summer 2016 Estimated total cost of project: $30 million The 54-residence, seven-story Tides IV will use reclaimed heart pine, grasscloth, shiplap and Savannah brick. Floor-to-ceiling windows will allow natural light throughout each unit.

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

CHARLESTON UNDER CONSTRUCTION

Blue Acorn Expansion

148 Williman St., Charleston Developer: Raven Cliff Co., Sullivan’s Island Architecture firm: The Middleton Group, Charleston General contractor: Lennon Construction, Charleston Engineering firms: Live Oak Consultants, North Charleston (mechanical) and Jason Broadway, Mount Pleasant (structural) Estimated completion date: Fall 2015 The renovation project is an expansion of the Blue Acorn eCommerce headquarters across the street at 146 Williman St. The project will have an open-office concept and flexible work pods.

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

Porter-Gaud Upper School

300 Albemarle Road, Charleston Developer/owner: Porter-Gaud School Architecture firm: McMillan Pazdan Smith Architecture, Charleston Engineering firms: Britt Peters & Associates Inc., Mount Pleasant (structural); ADC Consulting Engineers, Hanahan (civil); Mechanical Engineering Consulting Associates Inc., Wando (mechanical) The new building will be approximately 47,000 square feet and will consist of 24 classrooms, administrative space and a media center. Located adjacent to the existing senior parking lot, the Upper School will also define a new courtyard area between the Science and Technology Building, Wendell Center and carpool lane.

Bennett Hospitality Marion Square Hotel

404 King St., Charleston Developer/owner: Michael Bennett, Bennett Hospitality, Charleston Architecture firm: Winford Lindsay Architect, Glenview, Ill. Design consultant: Fairfax & Sammons Architecture, New York General contractor: Balfour Beatty Construction, Dallas Engineering firms: Winford Lindsay Architect, Glenview, Ill. (structural, mechanical); Seamon Whiteside, Mount Pleasant (civil, landscape) Estimated completion date: August 2017 Estimated total cost of project: $101 million The 200,000-square-foot, eight-story luxury hotel will feature 185 guest rooms and a grand lobby entrance. A bilevel restaurant overlooking Marion Square and a separate bar and lounge area will be among the hotel’s amenities. The project also includes a rooftop pool with cabanas and bar, full-service spa, meeting space and a ballroom.

Charleston International Airport renovation

5500 International Blvd., North Charleston Owner: Charleston County Aviation Authority, North Charleston Architecture firm: Fentress Architects, Denver General contractor: Joint venture of Austin Commercial, Dallas and Charleston; Hitt Contracting, Charleston Engineering firm: Mead & Hunt, Lexington Estimated completion date: January 2016 Total cost of project: $189 million When completed, the airport terminal will include 15 airline gates, a modernized baggage handling system, consolidated security screening checkpoint, efficient central energy plant, new airline check-in stations and all-new retail and dining.

www.charlestonbusiness.com | ARCHITECTURE, ENGINEERING AND CONSTRUCTION

33

Financial Services With nearly $2.4 billion in deposits in the Charleston metropolitan statistical area, Wells Fargo continues to be the largest financial institution in the region, holding a market share of nearly 23% of all deposits. Among South Carolina-based financial institutions, South State Bank holds the most market share in the Charleston region with 15.04% and is No. 2 behind Wells Fargo. Overall, the Charleston market represents $8.79 billion in deposits.

FAST FACTS

$37,134,100

154

Amount of SBA loans approved for the

In-market banking offices in the metro

2014-2015 fiscal year in area counties.

area, with $8.8 billion in deposits.

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FINANCIAL SERVICES | www.charlestonbusiness.com

Charleston’s largest credit unions $1,400,000,000

Growth in S.C. credit unions MEMBERS

$1,372,376,093

149,292

Year No. Members

1990 1995 2000 2005 2010 2013 2014

$1,200,000,000

$1,00,000,000

99 87 77 69 62 58 69

593,491 748,771 933,124 1,060,951 1,275,895 1,339,249 1,425,274

Assets

$1.8 billion $2.7 billion $3.9 billion $5.8 billion $9.1 billion $10.5 billion $11.4 billion

Source: Credit Union National Association

$800,000,000 $274,879,341 $600,000,000

54,324 $274,879,341

54,324

$400,000,000

$50,056,561

7,982

$200,000,000

South Carolina Federal Credit Union

Heritage Trust Federal Credit Union

CPM Federal Credit Union

Santee Cooper Credit Union

C O Federal Credit Union

Charleston County Teachers Federal Credit Union

$1,947,606

384

$1,601,190

952

Source: National Credit Union Association 2015 Quarter 1 reports

36

FINANCIAL SERVICES | www.charlestonbusiness.com

Deposit market share report, Charleston MSA Institution

State HQ

State or Federal Charter

Wells Fargo Bank, National Association

SD

Federal

South State Bank

SC

State

Bank of America, National Association

NC

Federal

First Citizens Bank and Trust Company, Inc.

SC

CresCom Bank

No of Offices outside of market 6,285

Deposits outside No of Offices of market ($000) inside market

Deposits inside market Markets ($000) Share

$1,031,266,569.00

25

$2,353,431

22.74%

102

$5,027,816.00

35

$1,556,685

15.04%

5,078

$1,044,802,618.00

16

$1,409,382

13.62%

State

157

$6,513,710.00

20

$687,458

6.64%

SC

State

4

$154,928.00

8

$628,800

6.08%

Synovus Bank

GA

State

261

$20,594,898.00

9

$623,322

6.02%

Branch Banking and Trust Company

NC

State

1,830

$137,222,107.00

13

$596,691

5.76%

SouthCoast Community Bank

SC

State

0

$-

11

$337,110

3.26%

The Bank of South Carolina

SC

State

0

$-

4

$322,466

3.12%

SunTrust Bank

GA

State

1,501

$136,589,280.00

13

$279,863

2.70%

Source: FDIC Annual Deposit Market Share Report

Percent of unprofitable financial institutions in South Carolina 2010-2014 46.99%

2010

40.79%

2011

19.72%

2012 2013 2014

15.94% 12.31% Source: FDIC

www.charlestonbusiness.com | FINANCIAL SERVICES

37

South Carolina banking performance All insured institutions

2013

2014 Total assets

$36.7 billion

$36.9 billion

Total deposits

$30.9 billion

$31.1 billion

% of unprofitable institutions

15.9%

12.3%

% of institutions with earning gains

72.5%

64.6%

Core deposits to total liabilities

81.5%

82.5%

Charleston SBA loan approvals, fiscal year 2015 Lender Name............................... Orig $ Amt

BERKELEY COUNTY

Td Bank, National Association..........$540,000

Capital Bank Natl Assoc....................$250,000

Td Bank, National Association.......... $100,000

Capital Bank Natl Assoc................ $2,900,000

The Bancorp Bank...............................$191,400

Capital Bank Natl Assoc....................$350,000

United Community Bank................. $1,857,000

Td Bank, National Association..........$350,000

United Community Bank................ $1,096,000

Td Bank, National Association.........$1,125,000

United Midwest Savings Bank.......... $452,000

Wells Fargo Bank Natl Assoc............ $378,000

Wells Fargo Bank Natl Assoc...............$15,000

Wells Fargo Bank Natl Assoc................ $5,000

Wells Fargo Bank Natl Assoc................ $5,000

Wells Fargo Bank Natl Assoc.............. $25,000

Wells Fargo Bank Natl Assoc................ $5,000

Wells Fargo Bank Natl Assoc............. $289,100

Wells Fargo Bank Natl Assoc............. $100,700

Wells Fargo Bank Natl Assoc.............. $20,000

Wells Fargo Bank Natl Assoc............$645,000

CHARLESTON COUNTY

16.3%

15.5%

Source: Federal Deposit Insurance Corporation

38

FINANCIAL SERVICES | www.charlestonbusiness.com

Wells Fargo Bank Natl Assoc.............$370,400 Wells Fargo Bank Natl Assoc.............. $414,100

Ameris Bank.......................................$549,000

Wells Fargo Bank Natl Assoc............$980,800

Branch Bk. & Tr Co..............................$50,000

Wells Fargo Bank Natl Assoc.............. $20,000

Branch Bk. & Tr Co..............................$50,000

Wells Fargo Bank Natl Assoc...............$15,000

Business Devel Corp Of So. Car........ $150,000

Wells Fargo Bank Natl Assoc...............$15,000

Business Devel Corp Of So. Car........$250,000

Wells Fargo Bank Natl Assoc..............$50,000

Capital Bank Natl Assoc....................$350,000

Yadkin Bank...................................... $1,001,900

Capital Bank Natl Assoc................ $5,000,000 Celtic Bank Corporation......................$75,000

DORCHESTER COUNTY

Fidelity Bank....................................... $293,000

Branch Bk. & Tr Co..............................$427,700

Fifth Third Bank.............................. $2,856,200

Branch Bk. & Tr Co.............................. $45,600

Hsbc Bk Usa Natl Assoc................... $500,000

Business Devel Corp Of So. Car........ $240,000

JPMorgan Chase Bank Natl Assoc.$1,394,000

Business Devel Corp Of So. Car.......... $85,000

Newbridge Bank................................$350,000

Celtic Bank Corporation................... $100,000

Newtek Small Bus. Finance Inc........ $929,000

Celtic Bank Corporation...................... $51,000

Pnc Bank, National Association....... $203,500

Celtic Bank Corporation....................$130,000

Provident Bus. Finan Services.......... $352,000

Embassy National Bank.................... $300,000

Provident Bus. Finan Services..........$848,000

First Chatham Bank........................ $1,880,000

Provident Bus. Finan Services..........$648,000

Td Bank, National Association.......... $445,000

Regions Bank...................................... $278,700

Wells Fargo Bank Natl Assoc................ $5,000

Spirit Of Texas Bank, Ssb................... $215,500

Wells Fargo Bank Natl Assoc..............$50,000

Suntrust Bank.................................... $654,500

Wells Fargo Bank Natl Assoc.............$770,000

Suntrust Bank.................................. $1,021,000

Wells Fargo Bank Natl Assoc...............$10,000

Suntrust Bank.....................................$672,000 Suntrust Bank....................................$350,000

Total capital to risk-weighted assets

Td Bank, National Association..........$864,000 Td Bank, National Association...........$125,000

Total........................................... $37,134,100

Demographics The Charleston region’s cost of living extends above the national average for four out of six items indexed by the Council for Community and Economic Research, with utilities, groceries and health care all going more than 7 points above the national average. Part of this cost of living reflects the population increases in the metro area, which has more than 725,000 people across three counties with more than half living in Charleston County.

As business and industry continue to expand and look for nearby workers and suppliers, housing prices, commute times and cost of living are expected to increase with demand.

FAST FACTS

727,700

84.2%

Total number of people living

Percentage of national average that

in the Charleston metro area.

Charleston workers earn in wages.

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DEMOGRAPHICS | www.charlestonbusiness.com

HOW MUCH DO SOUTH CAROLINIANS MAKE? 2.6%

South Carolina household income

$200,000 or more

3.1%

$100,000 to $149,999

11.1%

$75,000 to $99,999

9.5%

Less than $10,000

6.3%

$150,000 to $199,999

10.2%

South Carolina median household income by household type

$68,314

$10,000 to $14,999

Married-couple famlies

12.6%

$44,163

$15,000 to $24,999

Median income in S.C.

$26,654

12.2%

$25,000 to $34,999

17.9%

14.5%

$50,000 to $74,999

$35,000 to $49,999

Nonfamily households

Source: U.S. Census, 2013 American Community Survey

If you made $50,000 a year in the Charleston MSA you would need to earn the following to live similarly in these cities:

$51,387

ASHEVILLE

$49,702

ATLANTA

$47,224

$47,224

$47,224

$46,085

COLUMBIA

CHARLOTTE

GREENVILLE

RALEIGH

Source: The Council for Community and Economic Research

42

DEMOGRAPHICS | www.charlestonbusiness.com

Average wage comparison, 2013

A score of 100 is equal to the national average. A score greater than 100 means it is more expensive, and a score less than 100 means it costs less.

$49,808

U.S.

$41,944 84.2% of U.S.

Cost of living index, Charleston MSA Time Period: First quarter of 2015

$40,558

$40,581

81.4%

81.5%

of U.S.

of U.S.

$39,792 79.9% of U.S.

101.0 Overall

107.6

94.2

93.6

107.2

Grocery Items

111.8 Utilities

Charleston MSA

Columbia MSA

Greenville MSA

S.C.

Transportation

Housing

Health Care

Source: The Council For Community and Economic Research

Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages

www.charlestonbusiness.com | DEMOGRAPHICS

43

2014 Charleston-area population By county and major city NOTABLE NUMBERS

198,210

148,470

Berkeley County

Dorchester County

727,700 total population

52.4%

46,970

40,370

106,750

77,800

Goose Creek

Summerville

of the population in the Tricounty is in Charleston county

North Charleston

Mount Pleasant

381,020

130,110

Charleston County

Charleston

Source: Charleston Regional Competitiveness Center

Comparing Lowcountry population density Military retirees don’t stand down The Charleston region’s postrecession growth spurt brought challenges along with opportunities. To many communities that are not struggling with issues surrounding high growth — ­ such as traffic congestion during peak hours ­­— the Charleston region’s problems migh seem like nice ones to have. Using ZIP codes from the Charleston area, data from mapping and analysis company Esri show how many people per square mile live in specific areas across the Charleston metro region.

A 2012 economic impact study from the S.C. Commerce Department shows South Carolina has the nation’s third-highest population of military retirees, most living near military installations. In addition to billions in pension payments, many retirees launch second careers and start companies in the state, the study said.

Economic impact

56,486

Highest population density per square mile ZIP Location 29409 Charleston 29417 Charleston 29401 Charleston 29403 Charleston 29407 Charleston 29406 Charleston 29456 Ladson 29419 North Charleston 29405 North Charleston 29410 Hanahan 29464 Mount Pleasant 29418 North Charleston 29404 North Charleston 29445 Goose Creek 29466 Mount Pleasant 29412 Charleston

44

People/squaremile 27,571 17,763 6,346 5,124 2,304 2,168 1,907 1,820 1,743 1,678 1,557 1,383 1,106 1,031 1,026 1,024

Median income $57,000 $19,000 $47,000 $25,000 $44,000 $31,000 $52,000 $51,000 $24,000 $44,000 $71,000 $42,000 $41,000 $54,000 $94,000 $57,000

Source: Esri, Esri’s Tapestry

DEMOGRAPHICS | www.charlestonbusiness.com

Military retirees living in South Carolina in 2011.

$1.3 billion

Annual pension payments to military retirees in S.C. in 2011.

Economic impact of retirees connected to installations

Installation

Economic impact

Joint Base Charleston

Shaw Air Force Base

Fort Jackson

$58M

Beaufort air station

$58M

Beaufort Naval hospital

Parris Island

$170M

$123M

$10M $2M

Source: The Economic Impact of the Military Community in South Carolina, 2012

Commuting to work – 2012 American Community Survey The American Community Survey estimated the 2011 statistics of commuter behavior based on the 2010 Census.

Berkeley

Charleston

Dorchester*

South Carolina

Workers 16 years and older

84,104

175,534

56,617

1,957,707

Car, truck or van - drove alone

70,356

140,720

47,071

1,612,082

Car, truck or van - carpooled

7,144

14,609

6,146

182,292

Public transportation (excluding taxicab)

444

2,870

146

12,877

Bicycle

85

2,629

NA

6,105

Walked

2,512

6,224

587

45,156

Other means

1,024

1,794

579

25,417

Worked at home

2,539

6,688

2,088

73,778

Note: Dorchester County’s figures had not been estimated by the American Community Survey, so the 2010 figures were used.

Source: U.S. Census Bureau, American Community Survey, 2010 Means of Transportation to Work

Mean travel time to work in minutes, 2013 25.8 U.S. Average 30.0 Atlanta

26.0

Charlotte, N.C.

25.1

Richmond, Va.

21.6

23.6

Greenville

Charleston

23.9 Columbia

22.9

Lexington, Ky.

21.2

Asheville, N.C.

20.9

Lexington, Ky.

Source: U.S. Census Bureau

www.charlestonbusiness.com | DEMOGRAPHICS

45

Employment and Economic Development While Charleston’s growing tech community continues to push more startups and entrepreneurial investment toward the region, the sector still represents a small segment of the area’s total employment. That’s not uncommon for communities where there’s an ongoing tech buzz, but a comparison of tech-related jobs to other employment sectors from the Charleston Digital Corridor shows the promise and trend of high-growth, high-wage jobs this sector represents. Seven Charleston-area startups posted three year growth above 500%, for example. Also, 89% of Corridor companies added staff in 2014 with 35% of them increasing their absorption of commercial space.

FAST FACTS

$1 BILLION

$1,476,817,000

Total investment by Mercedes-Benz Vans

Market value of poultry and eggs

and Volvo announced in 2015.

produced annually in South Carolina.

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47

ECONOMIC DRIVERS

As 2015 began, two major automotive economic development announcements came to the Charleston area.

VOLVO’S IMPACT

WAGES AND IMPACT Volvo has not disclosed wages for workers at the new plant.

Data gathered by the U.S. Bureau of Labor Statistics shows what various production workers made last year in South Carolina. Overall, production workers made $17.56 an hour on average for a $36,520 salary.

$500M 4,000 100,000 investment jobs cars produced annually

Helpers/production workers Source: Volvo

MERCEDES-BENZ VANS PLANT EXPANSION

1,300 $500M jobs initial investment

200 ACRES

All other production workers

$17.56

Engine and other machine assemblers

$17.48

Machinists First-line supervisors of production and operating workers

Photo/Volvo

$11.84

$18.46 $29.23 $51.87

Industrial production managers

of land for a new body shop, paint shop and assembly line

Source: U.S. Bureau of Labor Statistics 2014 data

VOLVO

For every job at the Volvo plant, three other jobs will be created.

Source: Mercedes-Benz Vans

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EMPLOYMENT AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com

Source: University of South Carolina analysis by Joseph Von Nessen

Boeing in South Carolina 7,792 employees as of June 25, the fourth largest Boeing site in the U.S. 332 suppliers and vendors throughout the state; Boeing has purchased about $279 million worth of parts from them.

Boeing’s North Charleston operations support an estimated 8,500 direct and indirect jobs in the state.

Photo/Kim McManus

The aerospace industry’s economic impact in S.C.

102,721

Total employment

$17.4 billion Total economic impact

$7.3 billion Total compensation

$532.1 million

State tax revenue generated annually from the aerospace cluster

Average salary comparisons for S.C. industry

Aerospace jobs $70,749

Manufacturing jobs $48,453

South Carolinians $41,206 Source: “Uncovering the Stealth Cluster: The Economic Impact of Civilian and Military Aerospace on South Carolina” by Joseph Von Nessen, economist with the University of South Carolina

Dreamliner deals thus far in 2015

24

net orders from customers

64

Dreamliners delivered (with a goal of delivering 120 this year)

Production goals for 2015 Boeing is preparing to increase to 12 787-8 and 787-9 Dreamliners built a month in Everett, Wash., and North Charleston; it will also introduce the 787-10 in North Charleston in 2017.

Average 787 prices in 2015 787-8 Dreamliner $224.6 million 787-9 Dreamliner $264.6 million 787-10 Dreamliner $306.1 million Boeing delivered the first 787-9 Dreamliner assembled at its North Charleston facility in March to United Airlines.

(Photo/Boeing)

www.charlestonbusiness.com | EMPLOYMENT AND ECONOMIC DEVELOPMENT

49

South Carolina union stats About 2.2% of the state’s workforce, or 41,000 workers, were members of unions in 2014. This is down from 69,000 workers, or 3.7%, who were members of unions in 2013.

About 61,000 workers, or 3.2% of the state’s workforce, were represented by a union, whether or not they were members, in 2014. This data includes both union members and those workers who do not report union affiliation but whose jobs are covered by a union contract since South Carolina is a right-to-work state.

States with the lowest union membership rates:

1. North Carolina........................... 1.9% 2. South Carolina.......................2.2% 3. Mississippi..................................3.7% 3. Utah............................................3.7% 5. Georgia...................................... 4.3%

States with the highest union membership rates:

SOUTH CAROLINA’S UNION MEMBERSHIP RATES OVER THE DECADE 5% – 4% – 3% – 2% –

1. New York................................. 24.6% 2. Alaska...................................... 22.8% 3. Hawaii.......................................21.8% 4. New Jersey..............................16.5% 5. California..................................16.3%

1% – 0% – 2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Source: U.S. Bureau of Labor Statistics

Growing entrepreneurs Dirt Works is an incubator farm that Lowcounty Local First began in 2012 on Johns Island.

Through its 10-acre incubator farm, aspiring farmers have a helping hand in growing, producing and selling their bounty. Dirt Works provides affordable land access and a training site for farmers, just outside of Charleston. It’s the first of its kind in South Carolina.

By the numbers $2,000

Up to three years

Yearly fee for participants

Lease length

Approx.

1 acre

Acreage per farmer

Source: Lowcountry Local First

New farmers check the growth of greens at Dirt Works, an incubator farm. (Photos/Dirt Works)

Ranking by market value of agricultural products sold in S.C.

Poultry and eggs Rank: 1 2,210 Farms $1,476,817,000 in sales 48.6% of total sales

Grains, oilseeds, dry beans, and dry peas Rank: 2 3,323 Farms $499,618,000 in sales 16.4% of total sales

Cotton and cottonseed

Other crops and hay

Rank: 3 783 Farms $213,796,000 in sales 7.0% of total sales

Rank: 4 5,224 Farms $176,190,000 in sales 5.8% of total sales

Nursery, greenhouse, floriculture, and sod Rank: 5 658 Farms $165,740,000 in sales 5.5% of total sales

MILK Vegetables, melons, potatoes, and sweet potatoes Rank: 6 1,420 Farms $122,678,000 in sales 4.0% of total sales

50

Hogs and pigs

Cattle and calves

Rank: 7 571 Farms $93,527,000 in sales 3.1% of total sales

Rank: 8 5,778 Farms $92,352,000 in sales 3.0% of total sales

EMPLOYMENT AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com

Fruits, tree nuts, and berries Rank: 9 1,094 Farms $65,762,000 in sales 2.2% of total sales

Milk from cows Rank: 10 75 Farms $56,008,000 in sales 1.8% of total sales

Source: U.S. Department of Agriculture, 2012 Census of Agriculture

Charleston Digital Corridor’s 2014 wage survey Charleston-area companies on the INC 5000 Each year, the Charleston Digital Corridor publishes a wage survey, tracking the high-tech sector. Here are the results from 2014’s survey.

$70,084 $38,990

South Carolina

$42,130

Charleston area

Charleston Digital Corridor companies

89%

70%

35%

Percentage of Digital Corridor companies who reported hiring staff in 2014

Percentage of companies responding that had seen doubledigit employment growth

Percentage of companies responding that had increased office space in 2014

list of fastest growing companies (2014) Location

3-year growth

Revenue

141 PureCars

Charleston

2690%

$8.7M

387 Escapada

Mount Pleasant

1211%

$4.6M

491 JEAR Logistics

Mount Pleasant

969%

$15.1M

511 EventWorks

North Charleston

929%

$3.0M

700 SPARC

Charleston

646%

$20.4M

803 Blue Acorn

Charleston

566%

$3.5M

886 The Cassina Group

Mount Pleasant

505%

$4.1M

1,349 Omatic Software

North Charleston

319%

$4.2M

1,571 ISHPI

Mount Pleasant

271%

$22.8M

1,869 TE21

Charleston

219%

$7.5M

1,889 PhishLabs

Charleston

218%

$2.4M

Rank Company

2,201 CodeLynx

North Charleston

179%

$4.5M

2,258 Stasmyer

North Charleston

173%

$2.6M

2,806 Lodging Source

Mount Pleasant

132%

$9.5M

2,827 Cantey Technology

Mount Pleasant

130%

$2.6M

3,354 Novus Architects

Mount Pleasant

100%

$5.4M

3,644 Advantage Media Group

Charleston

88%

$3.0M

3,937 eGroup

Mount Pleasant

77%

$21.7M

Source: INC 5000

Source: Charleston Digital Corridor, 11th Annual Wage and Job Growth Survey 2014 and Annual Report 2013

www.charlestonbusiness.com | EMPLOYMENT AND ECONOMIC DEVELOPMENT

51

Education The S.C. Education Lottery has infused hundreds of millions of dollars into Charlestonarea public schools, libraries, and colleges and universities since the lottery began in 2002.

For the 2013-2014 fiscal year, the lottery provided $76.2 million to kindergarten through 12th-grade public schools alone in Berkeley, Charleston and Dorchester counties. As the recession pushed lawmakers to cut state funding to schools and universities, the lottery helped many students continue education and careers beyond high school.

FAST FACTS

$255,675,000

58%

Amount of National Science Foundation

Percentage of S.C. undergrads at 4-year

funds received regionally in 2013.

schools who attended a technical college.

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www.charlestonbusiness.com | EDUCATION

53

Degrees awarded

by S.C. institutions

Technical education on the rise

Includes public institutions

– 2001-2002

– 2013-2014

Research Institutions 3,693

Clemson

86%

Were placed in a job related to their education or they are continuing their studies and furthering their education.

96%

Of the system’s students are South Carolina residents.

5,210 5,528 7,470

USC Columbia

Medical University of SC

58%

Of all South Carolinians enrolled as undergraduates in South Carolina’s public higher education attend one of the S.C. Technical College System’s 16 colleges.

739 929

Comprehensive Teaching Institutions Charleston Southern Univ.

The Citadel

Coastal Carolina

404 592 606 821 722 1,785 1,961 2,487

College of Charleston Francis Marion

512 655

Lander

418 583

S.C. State USC Aiken

USC Beaufort

USC Upstate

Winthrop

Source: S.C. Technical College System

College tuition costs on the rise MUSC** Clemson USC Columbia*

College of Charleston The Citadel Charleston Southern University

$22K

821 738

$20K

549 536

$18K

72 244

$16K

691

$14K

1,181

$12K

1,004 1,297

$10K

Technical Colleges Trident Technical College

$8K 1,668

$6K

3,298

$4K

Sources: S.C. Commission on Higher Education, Charleston Southern University

$2K 2011-12

2012-13

2013-14

2014-15

*Excludes medicine, law and pharmacy **Excludes medicine, dentistry and pharmacy; includes nursing and health professions only

54

Sources: S.C. Commission on Higher Education, Charleston Southern University

EDUCATION | www.charlestonbusiness.com

www.charlestonbusiness.com | EDUCATION

55

Average student loan debt

National Science Foundation funding for S.C. colleges and universities

For selected S.C. colleges and universities

College Average student loan debt, four years

College of Charleston

$25,304

Charleston Southern University

$21,566

University of South Carolina, Columbia

$26,792

Clemson University

$47,232

S.C. State University

$28,764

Total R&D Expenditures in all fields, 2005 compared to 201364

U.S. avg. $35,000

College of Charleston

Medical University of S.C.

2005: $5,891,000 2013: $10,224,000

2005: $178,086,000

2013: $245,451,000

Note: MUSC was not available Source: College Factual (collegefactual.com)

Source: National Science Foundation

Cumulative distribution of net lottery proceeds through FY 2013-14 BERKELEY

CHARLESTON

DORCHESTER

$19,195,234.17

$39,142,183.39

$17,907,255.47

K-12

K-12

52,408

K-12

94,948

45,197

Scholarship Awards

Scholarship Awards

Scholarship Awards

$69,450,446.83

$142,706,082.35

$66,846,500.82

Scholarship Amounts

Scholarship Amounts

Scholarship Amounts

$483,937.53

$809,187.89

$396,987.09

Library Totals

Library Totals

Library Totals

Source: S.C. Education Lottery System

Ten-year comparison of state education recurring appropriations for colleges and universities, FY 2005-06 to FY 2014-15

$800M

$700M

$758M

$689M $652M

$577M

$600M

$527M $473M

$500M $424M

$400M

2005-06

2006-07

2007-08

2008-09

2009-10

2010-11

$434M

$452M

$411M

2011-12

2012-13

2013-14

2014-15

Source: S.C. Department of Education

56

EDUCATION | www.charlestonbusiness.com

CHARLESTON-AREA SCHOOL DISTRICTS Dorchester School District 4

500 Ridge St. St. George, SC 29477 www.dorchester4.k12.sc.us Grades PK-12 Superintendent, Morris Ravenell Board Chairman, Kenneth Jenkins No. of Schools............................................7 No. of Charter Schools...........................0

In Dorchester County, the districts divide along Eagle Drive, Indigo Road and Cummings Chapel Road.

Berkeley County School District

229 E. Main St. Moncks Corner, SC 29461 www.berkeley.k12.sc.us Grades PK-12 Superintendent, Dr. Michael Turner, interim Board chair, Jim Hayes No. of Schools.........................................43 No. of Charter Schools...........................0

State Report Card Absolute Rating 2014.............................................. Excellent 2013................................................Average

State Report Card Absolute Rating 2014.............................................. Excellent 2013..................................................... Good

Dorchester School District 2

Charleston County School District

102 Green Wave Blvd.

Summerville, SC 29483 www.dorchester2.k12.sc.us Grades PK-12 Superintendent Joseph R. Pye Board Chairwoman, C. Gail Hughes No. of Schools..........................................21 No. of Charter Schools...........................0 State Report Card Absolute Rating 2014.............................................. Excellent 2013.............................................. Excellent

58

School district map

EDUCATION | www.charlestonbusiness.com

75 Calhoun St. Charleston, SC 29401 www.ccsdschools.com Grades PK-12 Superintendent, Gerrita Postlewait Board Chairwoman, Cindy Coats No. of Schools.........................................84 No. of Charter Schools........................... 9 State Report Card Absolute Rating 2014.............................................. Excellent 2013..................................................... Good

Student enrollment, 2014

X

– Students per teacher

Per-pupil expenditure, 2014 $12,500

50,000 40,000

$10,000

20.8

30,000

$7,500

22.6 20,000

$5,000

22.3

10,000

$2,500

16.9 Berkeley

Charleston

Dorchester 2

Dorchester 4

Average SAT scores, 2014

Berkeley

$50,000

1,450

$48,000

1,400

$46,000

1,350

$44,000

1,300

$42,000

Charleston

Dorchester 2

Dorchester 2

Dorchester 4

Average teacher salary, 2014

1,500

Berkeley

Charleston

Dorchester 4

Berkeley

Charleston

Dorchester 2

Dorchester 4

S.C. Department of Education

www.charlestonbusiness.com | EDUCATION

59

Import, Export and Distribution Tens of thousands of jobs depend on the growth and vitality of the logistics, distribution and supply chain industry across the Charleston area and the state of South Carolina. The impact begins with the Port of Charleston, multiple rail lines and the many trucking and overland transporation companies that work together to support businesses and industries by delivering goods and supplying material. The ripple effect extends across the state with billions of dollars in economic activity, touching a number of public and private companies in many direct and indirect ways along the Interstate 26 corridor and beyond.

FAST FACTS

16.9%

$1,076,200,000

Increase in operating revenue for

Value of aircraft exports from Charleston

S.C. Ports Authority from 2013 to 2014.

area, the region’s top export sector.

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Automotive drives S.C.exports in 2014 South Carolina posted its fifth straight year of record export sales in 2014 at $29.7 billion. The Palmetto State led the nation in exports of completed passenger vehicles, shipping more than a quarter million vehicles through the Port of Charleston last year. With more than $4 billion in export sales, China remained South Carolina’s top export partner, ahead of Germany, Canada, Mexico and the United Kingdom.

Top five commodities 1. Cars, 1.5- to 3.0-liter gasoline engines..........................$4.32B 2. Cars, 2.5-liter and larger diesel engines......................$2.66B 3. Cars, 1.5- to 2.5-liter diesel engines..............................$1.88B

South Carolina’s

Photo/SCSPA

top 25 export commodities in 2014 accounted for

4. Civilian aircraft, engines, and parts..............................$1.39B

57.7% of the state’s

5. Gas turbines exceeding 5,000 kilowatts.....................$1.11B

output, a $17.13 billion value, up 21.3% from $14.13 billion in 2013.

Source: U.S. Census Bureau

62

IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

Ports operating revenue

S.C. Inland Port at Greer

from the FY 2014 financial report

2011

$124,649,000

2012 2013 Total Operating Revenues $130,948,000

$140,388,000

2014 $164,143,000

The Inland Port more than doubled its monthly count of container lifts by the end of its first full year of operating.

Month, 2014

No. of container lifts

January 1,711 February 2,201

March 2,515

April 3,498

May

Total TEUs (equivalent number of 20’ container units)

June 3,471

1,685,000

July 3,577

1,384,000

1,432,000

1,560,000

Facts about the inland port

Date opened........ .......... Nov-13 Cost.................... ..... $47 million Number of customers..........

More than 10 Number of empl oyees..........25 Miles to Port of Charlest on.............. 212

3,732

August 4,770 September 4,689 October 4,678 November 3,972 December 3,741

Total 42,555

Breakbulk pier tonnage 1,412,000 992,000

1,618,000 1,316,000

*Port Royal was sold and closed Jun 30, 2014 Source: SCSPA FY 2014 financial report

Source: S.C. State Ports Authority

www.charlestonbusiness.com | IMPORT, EXPORT AND DISTRIBUTION

63

A global presence: Charleston exports on the rise Charleston-North Charleston MSA exports, 2014

$4.043 billion

Largest industries by value of exports

Total value of exports

Aircraft products and parts................................................... $1,076.2M

79th of 381 markets 12.8%

Motor vehicles parts................................................................. $233.9M

Exports as a share of metro area GDP

24,119

Total export-supported jobs

+6.6%

Paper products.......................................................................... $197.0M Resins and synthetic rubbers....................................................$193.4M Nonferrous metal products....................................................... $129.7M Basic chemicals..........................................................................$122.0M Engine and power equipment..................................................... $116.4M Freight and port services........................................................... $114.3M Motor vehicles........................................................................... $112.5M Motor vehicle body and trailers................................................ $109.8M

Growth in value of exports, 2008-2014

Source: Brookings Institution, Export Monitor

64

IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

Top 5 countries sending imports to S.C., 2014

Top 5 countries receiving exports from S.C., 2014

Country

Country

Value % Change from 2013

Value

% Change from 2013

Germany $7.15B 3.3%

China

$4.23B -13.2%

China

Germany

$3.87B 21.7%

Mexico $3.63B 63.2%

Canada

$3.60B -3.6%

Canada $2.85B 15.0%

Mexico

$2.12B 15.1%

Japan

United Kingdom $1.86B

$5.53B 10.6%

$2.41B 25.0%

36.7%

Source: U.S. Census

www.charlestonbusiness.com | IMPORT, EXPORT AND DISTRIBUTION

65

S.C. ROADS PROBLEM IN NUMBERS Here are some numbers that show the challenges to South Carolina’s transportation infrastructure:

84%

goods shipped from South Carolina go by truck

$156 billion

in goods are shipped from sites in S.C.

10% Another

carried by courier or multi-mode delivery (including trucking)

$168 billion

in goods are shipped to sites in S.C. (mostly by truck)

$1,100,000,000

cost of SERIOUS traffic crashes in South Carolina in which roadway features were likely a contributing factor

66

IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

South Carolina DRIVER’S LICENSE

DL

49 billion

3.46 out of 4.7 million

number of vehicle miles traveled per year in South Carolina

million

are licensed drivers in South Carolina

=

1,967,792

trips around the planet

Additional vehicle operating costs (per year)

Charleston Columbia Greenville- AndersonSpartanburg

$294 $362

$1

Every spent on highway, road and bridge improvements

$405

% of major urban roads in poor or mediocre condition

Charleston

37%

Columbia

36%

Greenville- AndersonSpartanburg

48%

=

$5.20 in

savings such as

• Reduced vehicle maintenance costs • Reduced delays and fuel consumption • Improved safety • Lower road maintenance costs • Reduced emissions due to better traffic flow

Sources: Federal Highway Administration , S.C. Transportation by the Numbers, a study by TRIP, a national transportation research group Infographic: Emily Matesi

www.charlestonbusiness.com | IMPORT, EXPORT AND DISTRIBUTION

67

Regional Competitiveness The Charleston Regional Business Journal partnered with several organizations over the past year for an analysis of data and information that drives several areas of the Charleston economy and compares it to similar regions across the Southeast and other parts of the U.S. The following pages highlight segments of these reports, including data on innovation, entrepreneurship, housing, education, transportation, talent and quality of life. For complete scorecards and reports, contact the Charleston Regional Development Alliance, the Charleston Metro Chamber of Commerce, Tri-County Cradle to Career Collaborative, the S.C. Community Loan Fund and the Charleston Trident Association of Realtors.

FAST FACTS

111

33%

Charleston has one of the highest quality

Percentage of residents in the Charleston

of place index scores behind only Raleigh.

area with at least a bachelor’s degree.

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REGIONAL COMPETITIVENESS | www.charlestonbusiness.com

Regional Economic Scorecard The Regional Economic Scorecard provides business, governmental, community and academic leaders with unbiased data to collectively address the metro area’s top development opportunities and challenges. It is brought to the community annually by the Charleston Regional Development Alliance and the Charleston Metro Chamber of Commerce.

Read the report online: crda.org/economicscorecard or charlestonchamber.net/economicscorecard

The Scorecard identifies four critical issues for economic success:

1

2

3

4

TRANSPORTATION

EDUCATION

INNOVATION

Transform the region’s infrastructure into a world-class multimodal system

Invest in education at all levels to transform outcomes and grow an aligned workforce pipeline

Develop and build the systems necessary to promote and support innovation

TALENT Develop a strategy to graduate, attract and retain the talent needed to sustain economic growth

The Scorecard ranks the Charleston area against other communities in four categories HUMAN CAPITAL INDEX

INNOVATIVE ACTIVITY INDEX

The Trend

• Almost all metros decreased; however Charleston has maintained slight growth since 2005 • Percentage of knowledge workers has grown at a faster rate than Raleigh and most of our peers

102

CHARLESTON

98 99

• Access to VC funding has improved

61ESTON

105

24

13

JACK SONV ILLE SAVANNA H

IGH RALE AUSTIN

100

UNITED STATES AVERAGE

190

REGIONAL COMPETITIVENESS | www.charlestonbusiness.com

125 0

RIC HM ON D

Note: After 2011, the Federal Government stopped reporting IT-Sector Share of Jobs (the percentage of employment in IT-related businesses), so that indicator has been removed from this index calculation.

180

UNITED STATES AVERAGE

66

ILLE GREENV

70

100

110

84

LE XVIL KNO

115

NAH SAVAN

JACKSONVILLE KNOXVILLE

VILLE,

GREEN

RL A H C

TIN, AUS EIGH RAL

75

• Challenge areas include a lack of STEM higher education programs, number of students with advanced technical degrees, and patent awards

• Since 2005, we’ve lost ground on this index, while Greenville and Lexington have improved on most indicators

RICH LEXIN MOND, GTON

96

The Trend

50

• Charleston continues to lag in percentage of adults with high school diplomas

Note: Because the Census Bureau’s American Community Survey is an annual survey based on random population sampling, the margin of error in the data is greater. Therefore, fluctuations from year-to-year can be the result of sampling and not necessarily a data trend.

The ability to generate new ideas, products and processes is an important measure of a region’s competitive advantage. An environment of innovation encourages the launch of new businesses, provides growth opportunities for existing businesses and attracts leading-edge businesses from outside the area. The result: new, higher-wage jobs for area residents.

The more our region graduates, attracts and retains talent with needed workforce skills, particularly knowledge and STEM workers, the more we will see positive changes in our Innovative Activity Index.

LEXINGT ON

The ability to produce, attract and retain talent is critical to the region’s longterm success and global competitiveness. Educated residents with specialized skills and knowledge fuel the performance of existing firms and serve to attract new employers in our target industries.

The better educated our workforce, the more quickly our economy can take advantage of new opportunities and recover from negative shocks, such as the recent economic recession. Positive changes in the Human Capital Index directly correlate with positive changes in the Innovation Index.

200

QUALITY OF PLACE INDEX

ENTREPRENEURIAL ENVIRONMENT INDEX A supportive environment for entrepreneurs is key for new business creation and growth. Just as a favorable climate encourages new companies to put down roots, an unfavorable climate can cause successful startups to seek more hospitable communities. Innovative activity in the economy results in new business and entrepreneurial activity.

The continued growth of small businesses, in particular the Business Services sector, is dependent on the continued growth of the region’s GRP and economic engines of growth, particularly high-value target industry clusters: Aerospace, Advanced Security, IT, Biomedical, Energy Systems and related competencies.

• Primarily due to increase in cultural and recreational opportunities, healthcare access, and the continued decrease in the still relatively high crime rate

• Progress is primarily due to 10 point increase in business services and growing concentration of small to mid-sized businesses

• Challenge areas include travel congestion and housing affordability

CHAR

that locally-owned businesses are making more money

3 92 9

106 RALEI GH

78

80

H EIG RAL

GREE NVILL E

SAVANNAH SAVANNAH

100

UNITED STATES AVERAGE

CHA 11 1 109 RLEST ON

103 104

114

TIN AUS

99 SAVANNAH

113

D, ON LE HM VIL RIC CKSON JA

N AUSTI LE XVIL KNO

VILLE KNOXINGTON LEX

90

94

LEX INGT ON

9LE8STON• Increase in proprietors’ income illustrates

RIC JACKSHOMOND NVILLE

• Charleston has improved its entrepreneurial environment but not as fast as others, causing a dip below the U.S. average

75

The Trend • 13 point improvement from 2005 to 2012, the largest growth of any of the metros

The Trend

87

In an increasingly competitive global economy, attracting and retaining a talented workforce has become a critical economic development issue. With a strong demand for specialized knowledge and skills, highly educated workers have more flexibility in where they choose to live and work.

Quality of Place matters most to highly-skilled, highly-mobile young professionals. Affordable housing options and multimodal transit solutions are critical to the region’s sustained economic health and well-being.

125

75

GREENV ILLE

100

125

UNITED STATES AVERAGE

www.charlestonbusiness.com | REGIONAL COMPETITIVENESS

71

Regional Education Report In January 2015, the Tri-County Cradle to Career Collaborative published the first Regional Education Report, a comprehensive overview of key educational outcomes for public school students in Charleston, Berkeley and Dorchester counties. The report provides a glimpse of how public school students are performing at eight assessment points ranging across the continuum from kindergarten readiness to postsecondary completion:

Kindergarten Readiness

3rd Grade Reading

3rd Grade Math

Postsecondary Enrollment

24% Proficient in Vocabulary

82% Proficient

73% Proficient

6,630 First-time

40% Proficient in Social &

Average Score of 656

Average Score of 640

Freshmen at Local IHEs (2013)

High School Graduation

8th Grade Reading

8th Grade Math

Postsecondary Completion

81% On-Time Graduation Rate

72% Proficient

74% Proficient

6,420 Degrees and 1,950 Certificates Awarded

Average Score of 632

Average Score of 637

by Local IHEs in 2013

Emotional Development

Read the report online: www.TriCountyCradleToCareer.org

Children that start behind tend to stay behind.

SC ranks 43rd in the country in the percentage of children not attending pre-school. (Children’s Trust) Third grade reading proficiency correlates to high school graduation rates.

Third grade math provides the building blocks for multiplication, division and fractions and sets the stage for more advanced math.

•

• •

•

One in five 3rd graders are not proficient in reading and one in five students don’t graduate from high school on time.

The percentage of students who do not meet reading standards increases from 18% in 3rd grade to 28% in 8th grade.

One in four 3rd graders do not meet math proficiency standards.

One in four 8th graders do not meet math proficiency standards.

Our population’s educational attainment levels are not aligned with future workforce needs that require some level of postsecondary credentialing.

By 2018, about 25,000 new jobs will be created in our region.

Skill gaps in high wage and key growth industries are unlikely to be filled by local high schools and IHEs.

Science & Engineering Sales & Marketing

25%

20%

Industrial Production Computer & Software

58% of tri-county residents 25 and over do not hold a postsecondary degree.

16% 14% 13%

23%

10% No High School Diploma

10%

Medical

33% 9%

High School Diploma Only

Some College

Associates

Bachelors or Higher

Disparities Across the Continuum Not Reading at 3rd Grade Level

Not Reading at 8th Grade Level

Did Not Pass HSAP ELA on First Attempt

Did Not Graduate On Time

All Tri-County

18%

28%

8%

19%

White

8%

17%

4%

14%

Hispanic

30%

31%

16%

24%

Black

29%

45%

13%

24%

Higher Income

7%

15%

4%

12%

Lower Income

27%

41%

13%

26%

Student Group

72

REGIONAL COMPETITIVENESS | www.charlestonbusiness.com

This section looks at reading score achievement among student groups across the K-12 continuum; similar patterns are evident in math scores.

Housing Blueprint The Housing Blueprint was brought to the community by the Charleston Trident Association of Realtors and the South Carolina Community Loan Fund. Following the model of the Regional Economic Scorecard, this report takes a comparative look at housing and its affect on the Charleston Tri-County region. It focused on housing density, cost, transportation and construction.

Read the report online: www.charlestonrealtors.com/housingblueprint

The Blueprint identifies four action items: Allow higher density development in urban core

Update regulations that stifle housing affordability including minimum lot sizes and minimum parking requirements.

Say yes to new development for changing demographic

Develop a 50-year transit and transportation plan

Approve non-traditional development proposals that attract talent to meet our job market demand.

Rezone land immediately for transitoriented development to allow the private sector time to provide density needed to support a multi-modal transit system.

Replicate innovative development solutions

Pass an accessory dwelling unit ordinance modeled after the award-winning Town of Mount Pleasant law.

HOUSING + DENSITY Why does this matter?

Our region’s population is projected to reach one million by 2027.

Are we ready to HOUSE 302,561 new, primarily single-person households?

High home prices

Housing density

Population density

The region’s high home prices do not correlate Housing density or residential density refers to with housing and population density compared the number of homes per unit of land. to its peer cities. Why?

Population density refers to the number of people per unit of land.

= 300 housing units per square mile

Austin: $231,300

Richmond

= 500 people per square mile

1,644.4

Richmond

3,414.7

CHARLESTON: $224,100 Richmond: $214,925

Raleigh

Austin

Greenville

Knoxville

1,232,5

Raleigh

2,826.3

Austin

2,653.2

Raleigh: $198,800 Jacksonville: $166,500 Greenville: $159,600 Knoxville: $152,600 Lexington: $148,000

1,189.13 1,026.1 893.3

Savannah

1,504.9 1,331.8 1,321.2

Savannah

Lexington

476.5

Charleston

Source: U.S. Census Bureau

2,404.7

Jacksonville

490.3

188.6

Knoxville

Jacksonville

Charleston

Source: National Association of REALTORS

599.9

Lexington

Greenville

1,101.9 896.5

Source: U.S. Census Bureau

www.charlestonbusiness.com | REGIONAL COMPETITIVENESS

73

Hospitality and Tourism When it comes to the battle for tourism dollars at national park sites across South Carolina, the Charleston region wins. Fort Sumter National Monument recently reported vistitor spending of nearly $44 million in a single year, which is down nearly one percentage point from the previous year. The next closest site for spending was Cowpens National Battlefield in Gaffney with $13.13 million in spending.

FAST FACTS

3,131,072

$160,000,000

Total arrivals, departures in 2014 at

Charleston wedding revenue, ahead of No.

Charleston International Airport.

2 Columbia at $123 million.

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www.charlestonbusiness.com | HOSPITALITY AND TOURISM

75

2014 tourism statistics $3.34 billion

4.9 million

Total economic impact

Total visitors

AVERAGE EXPENDITURES IN CHARLESTON, PER TRIP

Accommodations

$406

Dining/Food

$151

Local Transportation

$58

Tours/Attractions

Shopping

$61

$81

Other Expenses

$32

Source: College of Charleston Office of Tourism Analysis

HOTELS

CHARLESTON INTERNATIONAL AIRPORT PASSENGER ACTIVITY

Total passengers

3,131,072

Rooms

17,262

Occupancy rate

74%

Average Room rate

$136

Source: College of Charleston Office of Tourism Analysis

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HOSPITALITY AND TOURISM | www.charlestonbusiness.com

Enplaned

1,569,064

Deplaned

1,562,008

Total passengers has grown 93.7% from 1,616,255 in 2003.

Source: Charleston County Aviation Authority

Charleston’s wedding economy

Craft beer 5-year outlook in S.C.

Charleston’s reputation as a wedding destination is much-deserved. The city’s history, beauty and overall reputation for ambience pulls in brides, grooms and dollars from around the world. But how much of our economy can be directly related to the wedding industry?

We checked in with industry research company The Wedding Report Inc. to get some hard data on places where people get hitched in South Carolina and in the Southeast.

With $160 million in annual wedding revenue, the Charleston metro region accounts for more than 19% of all income coming to South Carolina by way of I do’s.

The S.C. Brewers Guild conducted an economic impact survey along with the national Brewers Association on the success of the Pint Law. The 2013 legislation allowed S.C. breweries to sell up to 48 ounces of beer to a patron for on-site consumption at a brewery. Previously, consumers were only allowed to buy four 4-ounce tasters from a brewery to consume on-site in conjunction with an educational tour.

REGION

REVENUE

# OF WEDDINGS

Charleston

$160 million

6,511

Columbia

$123 million

5,818

Greenville

$107 million

5,116

Myrtle Beach

$86 million

4,013

Spartanburg

$45 million

2,101

Hilton Head Island

$44 million

1,935

Florence

$29 million

1,472 Source: The Wedding Report Inc. for 2013

PROJECTED ECONOMIC IMPACT $59.8M $50.2M $35.8M $ 21.6M $13.7M

2014

2015

Year One Year Two Year Three

$380,291 $272,282

Source: Williams Institute, UCLA School of Law

$1,159,559

2017

2018 542.4

2019 641.7

456.6

328.3

- State

2016

PROJECTED JOBS ADDED

ESTIMATED TAX REVENUE FROM SAME-SEX MARRIAGES IN S.C. - Local

$70.9M

202.6 138.6

$1.8M

in total re ve for S.C. in nue fir three yea st rs

2014

2015

2016

2017

2018 2019 Source: S.C. Brewers Guild

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Charleston-area events by the numbers Charleston Fashion Week Attendees: 7,500 Year the event started: 2007 One more thing: The event has 1,400 working credentials (meaning tech people, hair, makeup, volunteers, staff). Saturday night’s event was streamed live this year.

Cooper River Bridge Run Attendees/participants: 40,000 runners Year the event started: 1978 One more thing: The race had 700 runners in its first year.

Family Circle Cup Attendees: 88,000

Golfing in S.C.

The numbers tell the story of the annual events that help drive the Charleston economy.

The Business Journal editorial staff examined some of the largest generators event by event.

Year the event started: 1973 in Hilton Head Island; 2001 in Charleston One more thing: 7,200 tennis balls are used throughout the tournament; 12,000 feet (about 2 1/4 miles) of string will be used on more than 400 tennis rackets

Lowcountry Oyster Festival Attendees: 10,000 Year the event started: 1983 One more thing: About 72,000 pounds of oysters are cooked during the oyster roast at Boone Hall Plantation.

Spoleto Festival USA Attendees: Around 60,000 Year the event started: 1977 One more thing: Ticket buyers from all 50 states come to see 147 performances over 17 days in 12 venues.

Holiday Festival of Lights Attendees: 236,000 over 52 nights Year the event started: 1990 One more thing: The festival features an estimated 2 million lightbulbs and 700 individual light displays. Within the first few weeks of the 2014 event, gatekeepers were able to count license plates from all 50 states on vehicles entering the park.

Southeastern Wildlife Exposition Attendees/participants: More than 40,000 attendees, 300 exhibitors and 105 artists Year the event started: 1983 One more thing: The farthest place an artist has traveled from for SEWE is South Africa. The Dock Dogs’ 40-by-20-foot tanks are filled with 27,000 gallons of water.

Moja Arts Festival Attendees: 60,000 Year the event started: 1983 One more thing: MOJA has been repeatedly recognized as one of the top destination events in the Southeast region and attracts visitors from around the world.

The golf marketplace in South Carolina continues to gain momentum, according to data from PGA PerformanceTrak, a golf data collection and benchmarking service from the PGA of America. PGA data show increases from 2013 to 2014.

34.7% Rounds of golf played

21.3%

30.3%

47.1% Food and beverage revenue

Golf fee revenue

Golf rounds played per day

28.8% Merchandise revenue

2014 PERCENTAGE INCREASE OVER 2013

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HOSPITALITY AND TOURISM | www.charlestonbusiness.com

Source: PGA PerformanceTrak

NOT A WALK IN THE PARK VISITOR SPENDING DOWN IN S.C. AT NATIONAL PARK SITES

A

recent report found that 1.52 million people visited South Carolina’s six national parks in 2013.

The study — 2013 National Park Visitor Spending Effects: Economic Contributions to Local Communities, States, and the Nation — calculated those visitors spent $79.7 million in communities within 60 miles of

MENT NAL MONU O I T A N R E T FORT SUMnd (Lowcountry) la Sullivan’s Is

FORT SUMTER

T MEN NATIONA L MONU

: r spending Total visito .86% year 0 n w o d , n io $44.92 mill over year : 815,007 ation visits Total recre visitor ution from Job contrib 38 spending: 6

CONGAREE N ATIONAL H opkins (Midla nds)

CONGAR NATIONAL PAEE RK

a park and contributed 1,136 jobs to the S.C. economy.

Nationwide, visitation fell 3.2% year over year, largely owing to the government shutdown in October 2013 and closures related to the effects of Hurricane Sandy.

Here is a breakdown on visitation, spending and job contribution from the Palmetto State’s national parks.

COWPENS NATIONAL BATTLEFIELD Gaffney (Upstate)

COWPENS NATIONAL

BATTLEFIELD

Total visitor spending: $13.13 million, down 4.51% year over year Total recreation visits: 216,240 Job contribution from visitor spending: 190

NINETY SIX NATIONAL HISTORIC SITE PARK

Total visitor spending: $5.82 million, up 13.23% ye ar over year Total recreati on

visits: 120,341 Job contribu tion from visi tor spending: 74

Ninety Six (Upstate)

NINETY SIX NATIONAL

HISTORIC SITE

Total visitor spending: $3.84 million, down 2.29% year over year Total recreation visits: 69,624 Job contribution from visitor spending: 57

KINGS MILITA MOUNTAIN N RY PARK AT , BlacksburIONAL

g (Upsta te) Total vis it or spen RY PARK ding: $9.35 m illio over yea n down 4.59% year r Total re creation visits: 2 47,632 Job con tributio n from v spendin isitor g: 131

KINGS MO UNTAIN MILITA

NATIONAL

NEY NATIONAL ntry) CHARLES PINCKMo t Pleasant (Lowcou HISTORIC SITE un CHARLES PINCKNEY E NATIONAL HISTORIC SIT WE THE PEOPLE

g: Total visitor spendin year 4% 9.2 up n, llio mi $2.60 over year its: 47,309 Total recreation vis m visitor Job contribution fro spending: 37

Source: 2013 National Park Visitor Spending Effects: Economic Contributions to Local Communities, States, and the Nation

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Medical and Health Care The Charleston-area has six hospitals and a number of medical centers, doctors practices, specialists and urgent health care centers across three counties. Over five years, the hospital systems have netted nearly $1 billion in net profit, but not every hospital system posted a gain during that time. The revenue includes items not just associated with health care and patient outcomes, including money from parking fees, investments and other sources.

FAST FACTS

54.1

$963,786,437

Preventable hospitalizations in

Net profit for Charleston-area

South Carolina per 1,000 people.

hospitals over five years.

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SECTION SPONSOR

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Financial performance of Charleston area hospitals, 2013 Profit/loss includes earnings from patient services as well as investments, parking and other revenue sources.

NUMBER OF BEDS

OCCUPANCY RATE

Roper St. Francis Mount Pleasant

East Cooper Medical Center

Medical University Hospital

Roper Hospital

Roper Bon Secours St. Francis Hospital

Trident Medical Center

85

120

718

368

189

390

16.2%

41.6%

81.4%

53.3%

53.3%

64.8%

$1,092,577,451 TOTAL REVENUE

$51,128,076

$368,326,364

$130,012,112

$265,663,353

FIVE-YEAR PROFIT/LOSS

$72,705,585

$126,566,920

$199,875,399

$372,037,276

$312,967,860 $193,236,383

-$7,353,664 Source: S.C. Department of Health and Human Services

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MEDICAL AND HEALTH CARE | www.charlestonbusiness.com

Employment and earnings for health care professionals in the Charleston region, 2013 EMPLOYED Dentists, general

310

Physicians and surgeons, all other

380

Pharmacists Optometrists

950 60

Physician assistants

240

Physical therapists

510

Registered Nurses Occupational therapists

300

Dental Hygienists

390

Respiratory therapists

390

Occupational therapy assistants

9,720

70

Licensed practical and licensed vocational nurses

1,360

AVERAGE SALARY Dentists, general

Physicians and surgeons, all other

Pharmacists

Optometrists Physician assistants

$197,890 $108,930

$51,310

$79,820

Physical therapists

Registered Nurses

$76,760 $66,890

Occupational therapists

$73,190

Dental Hygienists

$56,120

Respiratory therapists

$60,490

Occupational therapy assistants

Licensed practical and licensed vocational nurses

$183,370

$51,410

$41,960

Source: U.S. Bureau of Labor Statistics, May 2014 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates for Charleston-North Charleston-Summerville

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Affordable Health Care Act South Carolina figures , 2015 open enrollment period

210,331

< 18

42%

18-25

55-64

RE-ENROLLEES

TOTAL MARKETPLACE USERS

26-34

58%

257,282 were eligible to enroll 280,564 completed applications

BY AGE

NEW CUSTOMERS

45-54

35-44

Source: U.S. Department of Health and Human Services

TOTAL MEDICAID SPENDING

WHAT DOES INSURANCE COST?

Figures show the average annual health premiums for a family plan.

United States 2013

Employee contribution

2014

Employer contribution

$438 BILLION $476 BILLION

Total $15,506 $11,608

$11,832

South Carolina 2013

2014

$4.90 BILLION $5.56 BILLION

$4,482

$4,421

South Carolina

United States

Source: Kaiser Family Foundation

PERCENT COVERED BY HEALTH INSURANCE 82.8%

85.5%

South Carolina

85.8%

Total $16,029

81.9%

82.5%

85.6%

Charleston

86.5%

80.5%

Source: Kaiser Family Foundation

Male 84.6%

87.3%

Columbia

Female 88.7%

Caucasian 83.3%

85.5%

Black 84.2%

85.6%

83.5%

Greenville

Source: American Community Survey

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MEDICAL AND HEALTH CARE | www.charlestonbusiness.com

South Carolinas’ health care rankings No. 43

No. 38

No. 1 is best, No. 50 is worst

No. 37

South Carolina’s overall health ranking

203 cancer deaths per 100,000 residents

4.9 % of adults have cardiac heart disease

Same as in 2014

Same as in 2014

Up from no. 38 in 2014

No. 47

No. 20

No. 14

42.6% of adults have high cholesterol Down from no. 44 in 2014

54.1 preventable hospitalizations per 1,000 Medicare hospitalizations

14.9% of adults binge drink Up from no. 16 in 2014

No. 41

31.7% of adults are obese Up from no. 44 in 2014

No. 47

12.5% of adult population have diabetes Down from no. 44 in 2014

No. 29

No.44

$67.71 in public money spent per person on health care

7.5 infant deaths per 1,000 live births

Up from no. 31 in 2014

Up from no. 38 in 2014

Up from no. 20 in 2014 Source: americashealthrankings.org

The breakdown on obesity South Carolina has given itself five years to get fit.

That’s the goal of the state’s first obesity action plan, SCaledown.org, released by the S.C. Department of Health and Environmental Control and the S.C. Obesity Council.

The initiative — which has the backing of multiple state agencies, businesses, health insurance companies, community organizations, health care providers and others — outlines steps and goals to reduce obesity in South Carolina and the costs associated with it.

“SCaledown.org will direct parents, ministers, nurses, teachers, and managers to the actual proven sources that can help each of us on a daily basis in our homes, schools, worksites, and communities. Today, we move from talk to coordinated action,” according to DHEC.

2 out of every 3 S.C. adults are overweight or obese.

The economic cost of obesity in South Carolina is estimated to be $8.5 billion per year and growing.

More than 30% of S.C. high school students are overweight or obese.

1 in 3 low-income children ages 2 to 5 years old are overweight or obese in South Carolina.

Source: SCaledown.org

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Business Resources A variety organizations, government agencies and educational institutions provide information for industrial growth, entrepreneurship and how to do business among specific sectors and in different counties and communities. A lot of information found in Market Facts comes from these agencies after being distilled to the most comparative data for the Charleston metro region. Direct help can be found by contacting these organizations, which are dedicated to providing avenues for businesses to locate and expand throughout the region and state by offering reliable information and advice.

FAST FACTS

660,000

$6,300,000

Square feet of vacant industrial space in

Amount Charleston businesses received

Berkeley and Dorchester counties.

in Revolving Loan Fund money since 1990.

CHARLESTON REGIONAL DEVELOPMENT ALLIANCE

BCD COUNCIL OF GOVERNMENTS

SECTION SPONSOR

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BUSINESS RESOURCES | www.charlestonbusiness.com

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CHAMBERS OF COMMERCE

Supports our membership by promoting member businesses in our community and to the tourism industry.

We represent our members’ voices in our local government while helping our members grow by providing and sharing resources, leads, referrals, and networking opportunities.

Berkeley Chamber of Commerce 1004 Old U.S. Highway 52 Moncks Corner, SC 29461 800-882-0337 www.berkeleysc.org Oversees the needs of more than 500 members in Berkeley County and surrounding communities, serving as the county’s leading resource for information while providing community and business leaders opportunities to become involved in shaping the future of the region.

Charleston Metro Chamber of Commerce 4500 Leeds Ave., Suite 100 Charleston, SC 29402 843-577-2510 www.charlestonchamber.net Serves to strengthen the region as the world’s best location to live, learn, work and play; while advancing the region’s economy, improving quality of life and enhancing the members’ success.

Edisto Chamber of Commerce 430 S.C. Highway 174 Edisto Island, SC 29438 843-869-3867 www.edistochamber.com

Greater Summerville Dorchester County Chamber of Commerce 402 N. Main St. Summerville, SC 29483 843-873-2931 www.greatersummerville.org Protects and promotes the quality of life in the community, with specific emphasis on improving economic vitality and providing a favorable business climate.

S.C. African American Chamber of Commerce 3400 Forest Drive Columbia, SC 29204 803-661-2977 www.scachamber.com An advocate for prosperity, progress and the permeation of success throughout the state as it relates to African American businesses.

Why do more businesses choose Charleston Steel over the others?

We love challenges!

Our experience and know how designs and completes every job efficiently no matter how big or small.

Our trucks transport metals of all kinds and sizes in containers or flatbeds, low-sides, hi-sides and dumps.

Mobile Crews and Equipment.

Competitive Pricing...Prompt Payment 2700 Spruill Avenue N. Charleston, SC 29405

(843) 722-7278 3038 Highway 52 North Mt. Holly, SC 29461

(843) 722-1340

www.charlestonsteelandmetal.com

“The LowCountry’s Leader in Metal Recycling”

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BUSINESS RESOURCES | www.charlestonbusiness.com

S.C. Chamber of Commerce 1301 Gervais St., Suite 1100 Columbia, SC 29201 803-799-4601 www.scchamber.net The chamber creates prosperity for all citizens through an economy of increased productivity and global competitiveness.

S.C. Hispanic Chamber of Commerce 714 Pettigru St., Suite C Greenville SC 29601 864-643-7261 www.schcc.org Promotes and supports the advancement of the economic growth of Hispanic businesses in South Carolina and is committed to the development of programs and the facilitation of the resources needed to help Hispanic businesses to reach their full potential.

S.C. Small Business Chamber of Commerce 1717 Gervais St. Columbia, SC 29201 803-252-5733 www.scsbc.org A statewide advocacy organization working to make state government more small business friendly.

Sea Islands Chamber of Commerce 2817 Maybank Highway Unit #1 Johns Island, SC 29455 843-793-1234 www.seaislandschamber.org Promote the economic growth and quality of life in the Sea Islands area; striving to provide a clear, persuasive voice for the business community in governmental affairs on federal, state, county and local levels. Provide services designed to enable the public and private sectors to improve productivity and promotes the Sea Islands area as an economic, educational and recreation center while providing membership services and networking opportunities for its members.

Tri-County Regional Chamber of Commerce 225 Parler Ave. St. George, SC 29477 843-563-8187 www.tri-crcc.com Dedicated to serving its members and communities by taking a proactive role in improving the general welfare, prosperity, and quality of life for all citizens of the Tri-County Regional Chamber of Commerce area; will seek to accomplish its mission by focusing particular attention and emphasis on advancing

and stimulating economic, commercial, agricultural and industrial growth and development, promoting tourism, providing quality education and advancing civic and cultural interests.

ECONOMIC DEVELOPMENT Berkeley County Economic Development Department 1003 Highway 52 Moncks Corner, SC 29461 843-719-4096 berkeleycountysc.gov/drupal/econdev The Berkeley County Economic Department strives to attain a comprehensive economic development program directed toward economically sustainable and environmentally responsible opportunities.

Business Development Corp. of S.C. 111 Executive Center Drive Enoree Building, Suite 225 Columbia, South Carolina 29210 803-798-4064 www.businessdevelopment.org Established in 1958 by the state Legislature to promote business and industry within South Carolina, the BDC is a non-bank commercial lending company specializing in the SBA 7(a) loan guaranty program. Certified Development Corp. of S.C., an affiliated corporation, provides financial assistance to businesses.

Charleston Digital Corridor 475-A East Bay St. Charleston, SC 29403 843-724-3773 www.charlestondigitalcorridor.com Uses a creative effort to attract, nurture and promote Charleston’s tech economy through a combination of technology-enabled initiatives and business incentives, private business support and member-driven programming.

Charleston Regional Development Alliance 4401 Belle Oaks Drive, Suite 420 North Charleston, SC 29405 843-767-9300 www.crda.org A full-service professional economic development organization representing Berkeley, Charleston and Dorchester counties, serving as a confidential resource to help streamline the site selection process, assisting companies with issues such as buildings and sites, financing and workforce training.

The Citadel Small Business Development Center 171 Moultrie St. Charleston, SC 29406 843-953-6007 The Small Business Development Center, a counseling partner of the U.S. Small Business Administration, helps people with small business startup ventures and assists in the continued growth of small businesses with funding from federal, state and private sources. Counseling services are free, confidential and open to any present or prospective small business owner.

Clemson Institute for Economic and Community Development 900 Clemson Road Columbia, SC 29229 803-788-5700 www.clemson.edu/public/ciecd/index.html Connects the resources of Clemson University and other agencies to the needs of S.C. communities for community outreach, institute initiatives and research. The goal of CIECD is to develop and support leadership development programs for communities that enable and empower wealth creation, foster result-oriented collaboration for building the capacity for community and economic development, provide cutting edge research-based information for community decision-making.

Provides critical conceptualization and visioning facilitation to communities; support environmental sustainability through training and information sharing with partners and communities; establish a methodology for involving undergraduate and graduate students in CIECD and Sandhill programs as well as county extension offices; and primary and applied research to communities address issues related to growth.

College of Charleston Office of Economic Analysis 66 George St. Charleston, SC 29424 843-953-8111 http://sb.cofc.edu/centers/ economicanalysis/ Part of the School of Business Partnership Program which links academic programs with key segments of the Lowcountry economy. Provides objective analysis and interpretation of economic data and trends in the international, national, regional and local economy.

Dorchester County Economic Development 402 N. Main St. Summerville, SC 29483 843-875-9109 www.dorchesterforbusiness.com Dorchester County Economic Development is responsible for growing and retaining business in Dorchester County. Its mission is to work to create and support an environment that welcomes business and helps companies to grow and succeed over the long term.

Lowcountry Housing & Economic Development Foundation 2106 Mount Pleasant St. Charleston, SC 29403 843-722-0596 www.lowcountryhousingfoundation.org Founded in 1997 and organized as a 501(c)3 tax exempt organization, it’s mission is to provide housing and economic development opportunities for the low to moderate-income families of Coastal South Carolina through economic development, home ownership, housing rehabilitation, job preparation and financial management training services.

South Carolina Council on Competitiveness 1411 Gervais St., Suite 450 Columbia, SC 29201 803-760-1400 www.sccompetes.org A business-led, nonprofit organization advancing the long-term economic competitiveness of our state, industries and citizens. Our work is accomplished through actionable economic research, support of industry clusters and education and workforce initiatives. We execute our work through partnerships recognizing that our state’s economic success is secured through sustained collaboration among the private, public, academic and nonprofit sectors North Charleston Department of Economic Development 2500 City Hall Lane North Charleston, SC 29406 843-554-5700 www.northcharleston.org/Business/ Business-in-North-Charleston.aspx North Charleston is dedicated to providing resources necessary to help business get from where they are to where they want to be. Drawing on the strength of increasing numbers of public/private partnerships, North Charleston provides infrastructure, a well-trained work force, support services and financial resources to help businesses succeed.

Our Region Our Plan 1362 McMillan Ave., Suite 100 Charleston, SC 29405 843-529-0400 www.ourregionourplan.com Promotes thinking and decision-making on a regional scale to address shared concerns and realize common goals and raises public awareness of issues and opportunities important to the economic health and quality of life in the region.

The Palmetto Institute 1221 Main St., 18th Floor Columbia, SC 29201 803-806-8106 www.palmettoinstitute.org An independent, nonprofit, nonpartisan research and educational organization that addresses state and regional public policy issues, conducts research on topics that will affect future development, promotes positive economic change within South Carolina and disseminates research findings and conclusions both to scholarly and lay audiences.

S.C. Association for Community Economic Development P.O. Box 20577 Charleston, SC 29413 843-579-9855 www.communitydevelopmentsc.org A statewide trade association of nonprofit, community-based development corporations within the state’s economically distressed communities.

The association’s primary focus is to build the capacity of local community development corporations through grass-roots leadership development, access to capital, advocacy and technical assistance.

S.C. Centers for Economic Excellence http://smartstatesc.org/ Spearheads the SmartState Program, which serves the public interest by creating incentives for the state’s research universities, in cooperation with other institutions of higher education, to raise capital from non-state sources to fund endowments for specialized research professorships which, in turn, cultivates critical, public-private industrial partnerships, expands the state’s knowledge base, create well-paying jobs and enhances economic opportunities and improves the quality of life for the people of South Carolina.

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S.C. Economic Developers’ Association P.O. Box 1763 Columbia, SC 29202 803-929-0305 www.sceda.org A statewide association of more than 600 member organizations whose primary objective is to increase the effectiveness of those involved in economic development in South Carolina.

S.C. Jobs - Economic Development Authority 1201 Main St., Suite 1600 Columbia, SC 29201 803-737-0268 www.scjeda.com Develops the business and economic welfare of South Carolina through loans, investments and the financial promotion of the export of goods and services produced within the state.

SC Launch 315 Sigma Drive Summerville, SC 29486 843-760-5893 www.scra.org SC Launch is the flagship program of SCRA Technology Ventures sector that enables research commercialization and promotes the development of high tech industries, enhancing South Car-

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olina’s technology-based economy. SC Launch invests in and offers support services to South Carolina’s early-stage startup technology companies.

Sewee to Santee Economic Foundation 405 Pinckney St. McClellanville, SC 29458-0026 843-887-4453 Serves to promote economic growth while preserving rural heritage.

Trident Technical College Division of Continuing Education and Economic Development 7000 Rivers Ave. North Charleston, SC 29406 843-574-6152 www.tridenttech.edu/ce/ Serves as a catalyst for personal, community and economic development by empowering individuals through education and training.

University of South Carolina Division of Research Darla Moore School of Business University of South Carolina 1014 Greene St. Columbia, SC 29208 803-777-3176 www.moore.sc.edu/facultyresearch/ researchcenters/divisionofresearch.aspx

BUSINESS RESOURCES | www.charlestonbusiness.com

The division reaches beyond the academic environment into public and private sectors of the state of South Carolina by conducting applied practical research on timely business and economic topics and serves as a center of expertise on issues associated with the state’s economy.

FINANCIAL ASSISTANCE Business Development Corp. of S.C. P.O. Box 21823 Columbia, SC 29221 803-798-4064 www.businessdevelopment.org A non-bank commercial lending company established in 1958 by the state Legislature to promote business and industry within the state. It specializes in the SBA 7(a) loan guaranty program.

Certified Development Corp. of S.C., an affiliated corporation, has participated in providing financial assistance to businesses since 1994. Certified Development specializes in SBA 504 debenture financing, limited to the state of South Carolina.

Charleston Angel Partners LLC 5 Liberty St. Charleston, SC 29424 843-881-5623 www.charlestonangelpartners.com A member-driven organization composed of a group of Charleston-area business professionals who work to help support high-growth economic development in the region and screen and evaluate qualified startups looking for seed capital. Membership is open to area men and women who are qualified individual investors and who work collectively to gain the benefits of a group experience which can be employed in the group’s research.

Charleston Local Development Corp.

2 George St., Suite 3600 Charleston, SC 29401 843-973-7298 www.charlestonldc.com Provides small business loans and counseling (technical assistance) for small businesses that are unable to secure traditional bank financing in the greater Charleston region, including Berkeley, Charleston, Colleton and Dorchester Counties.

Mortgage Bankers Association of the Carolinas Inc. P.O. Box 2588 Mount Pleasant, SC 29465 704-557-0204 www.mbac.org Represents companies that participate in the mortgage lending industry within North and South Carolina. Members include residential and commercial mortgage bankers, mortgage brokers, wholesale lenders, savings and loan associations, commercial banks, credit unions, government agencies, nonprofit organizations and companies that provide affiliated services to mortgage bankers. Members can receive legislative representation, education and training, networking, information resources and other benefits. Consumers can learn about the process of obtaining a mortgage loan, receive answers to mortgage-related questions, verify whether a lender is a member or receive assistance in resolving disputes with lenders and affiliates.

HUMAN RESOURCES City of Charleston Department of Human Resources and Organizational Development 174 East Bay St., Suite 302 Charleston, SC 29401 843-724-7388 www.charleston-sc.gov/ index.aspx?nid=246 Responsible for the implementation of the personnel system for city employees and the position classification plan of the city, class specifications of the city, allocation lists and the personnel policies and procedures including fringe benefits, conditions of employment, salaries and employee grievances.

Employers Association of South Carolina 104 Corporate Blvd., Suite 408 West Columbia, SC 29169 803-783-0368 www.eascinc.com Provides statewide human resource, supervisory and management development training including guidance and information on compensation packages, human resource policies and practices, labor relations, development of employee handbooks, consulting and training and affinity programs. It also offers an online learning center with more than 6,000 courses available.

S.C. Department of Employment and Workforce 1550 Gadsden St. P.O. Box 995 Columbia, SC 29202 803-737-2400 www.dew.sc.gov Maintains a statewide network of employment service offices which offer testing, counseling and job referrals and assist employers in filling jobs quickly with qualified personnel. Also administers unemployment benefits.

All employment services are free to the public. The Labor Market Information department provides a database on industries, employers, population, income, occupations and other information.

S.C. Human Resources Division 8301 Parklane Road, Suite A220 Columbia, SC 29223 803-896-5300 www.ohr.sc.gov A statewide government entity specializing in employee and employer services, career opportunities, training and development and workforce planning for government jobs in the state of South Carolina.

S.C. Occupational Information System 1550 Gadsden St. P.O. Box 995 Columbia, SC 29202 800-264-9038 www.scois.net A collaboration among 11 state agencies to coordinate the stateâ&#x20AC;&#x2122;s computer-based career information delivery system. It provides essential data on careers, salaries, scholarships, education and job opportunities, such as military, apprenticeships and post-secondary, trade and vocational programs.

S.C. Society for Human Resource Management â&#x20AC;&#x201C; Tri-county Chapter P.O. Box 6272 North Charleston, SC 29419 843-819-5129 http://tchrma.shrm.org Promotes the educational and professional development resources and services of the society; adopts programs to promote the progress, visibility and welfare of the group and its members in the human resources profession, including leadership training and succession planning; and provides programs and services to chapter members.

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S.C. Workers’ Compensation Commission 1333 Main St., Suite 500 P.O. Box 1715 Columbia, SC 29202-1715 803-737-5700 www.wcc.sc.gov The mission of this agency is to provide an equitable and timely system of benefits to injured workers and employers in the most responsive, accurate and reliable manner possible.

MISCELLANEOUS BUSINESS DIRECTORY Business Trademarks & Patents U.S. Patent & Trademark Office Madison Building, 600 Dunly St. Alexandria, VA 22315 Customer Service: 571-272-1000 www.uspto.gov State Assistance: S.C. Secretary of State 1205 Pendelton St., Suite 525 Columbia, SC 29201 803-734-2170 www.scsos.com Bar-coding & Universal Product Code GS1 US 7887 Washington Village Drive, Suite 300 Dayton, OH 45459 937-435-3870 www.gs1us.org Carolinas-Virginia Minority Supplier Development Council 9115 Harris Corners Parkway, Suite 440 Charlotte, NC 28269 704-549-1000 www.cvmsdc.org Charleston American Marketing Association P.O. Box 20885 Charleston, SC 29403 www.charlestonama.com Charleston Defense Contractors Association P.O. Box 61089 Charleston, SC 29419 www.charlestondca.org Charleston Trident Association of Realtors 5006 Wetland Crossing Drive North Charleston, SC 29418 843-760-9400 www.charlestonrealtors.com

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Charleston Home Builders Association 3251 Landmark Drive, Suite 141 Charleston, SC 29418 843-572-1414 www.hbacharleston.com Charleston Women in International Trade P.O. Box 20145 Charleston, SC 29413 www.cwitsc.org Coastal Community Foundation 635 Rutledge Ave., Suite 201 Charleston, SC 29403 843-723-3635 www.coastalcommunityfoundation.org U.S. Copyright Office 101 Independence Ave. S.E. Washington, DC 20559-6000 877-476-0778 www.copyright.gov Lowcountry Local First 1630 Meeting Street Road, bldg. 2 Charleston, SC 29405 843-740-5444 www.lowcountrylocalfirst.org Mount Pleasant Business Association P.O. Box 1635 Mount Pleasant, SC 29465-1635 www.mountpleasantbusiness.com S.C. Association of CPAs 1300 12th St., Suite D Cayce, SC 29033 803-791-4181 www.scacpa.org S.C. Association of Nonprofit Organizations 400 Arbor Lake Drive, Suite B-500 Columbia, SC 29223 803-929-0399 www.scanpo.org S.C. Bar Association 950 Taylor St. Columbia, SC 29201 803-799-6653 www.scbar.org S.C. Broadcasters Association 1 Harbison Way, Suite 112 Columbia, SC 29212 803-732-1186 www.scba.net S.C. Press Association 106 Outlet Pointe Blvd.

Columbia, SC 29210 803-750-9561 www.scpress.org

BUSINESS RESOURCES | www.charlestonbusiness.com

S.C. Department of Health & Environmental Control 2600 Bull St. Columbia, SC 29201 803-898-3432 www.scdhec.net S.C. Labor, Licensing and Regulation Synergy Business Park, Kingstree Building 110 Centerview Drive Columbia, SC 29210 803-896-4300 www.llr.state.sc.us S.C. Hospital Association 1000 Center Point Road Columbia, SC 29210 803-796-3080 www.scha.org S.C. Restaurant and Lodging Association 1122 Lady St., Suite 1210 Columbia, SC 29201 803-765-9000 www.scrla.org S.C. Society of Professional Engineers P.O. Box 11937 Columbia, SC 29211-1937 803-771-4271 www.scspe.org Trident United Way 6296 Rivers Ave. North Charleston, SC 29406 843-740-9000 www.tuw.org

TECHNOLOGY Association of Information Technology Professionals – Charleston AITP-Charleston P.O. Box 61225 Charleston, SC 29419-1225 www.aitp.org/members/group_content_ view.asp?group=73580&id=136410 Serves members by delivering relevant technology and leadership education, research and information on current business and technology issues, and presents forums for networking and collaboration.

Charleston Digital Corridor 475-A East Bay St. Charleston, SC 29403 843-724-3773 www.charlestondigitalcorridor.com A creative effort by the city of Charleston to attract, nurture and grow knowledge-based enterprises. In partnership with regional economic development agencies, communication infrastructure providers and the private sector, the corridor’s commitment is to facilitate an environment where technology companies thrive.

Information Technology Professionals of South Carolina P.O. Box 1124 Columbia, SC 29202 www.itpsc.org Provides a forum for members to exchange information and concepts to the mutual benefit of member companies and individuals. Encourages and assists in the education of member company representatives and individuals through seminars, conferences, newsletters and special reports or presentations. Presents a unified position on information and telecommunication technology matters and policies, legislative and regulatory issues, and supports public and private educational institutions offering curriculums in information and telecommunications technology.

Municipal Technology Association of S.C. 1411 Gervais St. P.O. Box 12109 Columbia, SC 29211 803-799-9574 www.masc.sc/programs/knowledge/affiliates/Pages/Technology.aspx Promotes the effective use of information technology by municipalities throughout South Carolina and offers members access to listserves and training on how to provide better services and achieve greater efficiencies using the latest technological innovations for municipal government.

S.C. Assistive Technology Program Midlands Center 8301 Farrow Road Columbia, SC 29203 803-935-5263 www.sc.edu/scatp/ A federally funded program concerned with getting technology into the hands of people with disabilities. A part of the national network of technology-related assistance programs, its goal is to enhance independence, productivity and quality of life for all South Carolinians through access to assistive technology devices and services.

S.C. Association for Educational Technology P.O. Box 7907 Columbia, SC 29202 www.scaet.org A nonprofit association serving to promote the innovative, intelligent and responsible use of technology in the enhancement of education. Organizes and produces the South Carolina Educational Technology Conference and established and supports other statewide forums for sharing ideas, information and resources in the use of educational technology.

S.C. Division of State Information Technology 4430 Broad River Road Columbia, SC 29210 803-896-0001 www.cio.sc.gov A statewide government agency that facilitates government services in South Carolina by coordinating enterprise technology investment and providing information technology solutions. Also delivers cost effective services for citizens, businesses and government organizations.

S.C. Information Technology Directors Association P. O. Box 12366 Columbia, SC 29211-2366 803-734-9059 www.scitda.org A collaboration of technology to benefit South Carolinaâ&#x20AC;&#x2122;s agencies and the citizens of the state. Provides a medium for the exchange of information pertinent to the management of state information technology facilities, provides a consolidation of experience, knowledge and interest in improving information technology, administration and management and serves as an instrument for the dissemination of information relating to information technology in the state.

SCRA 315 Sigma Drive Summerville, SC 29483 843-760-3200 www.scra.org Dedicated to stimulating economic growth through science and technology, as well as providing leadership to create innovative solutions through advanced technology that enhances customersâ&#x20AC;&#x2122; performance. SCRA was started by the S.C. Legislature under a public charter to help develop technol-

ogy-based industries in the state. It is a non-stock, tax-exempt applied research corporation. Technology ventures help early-stage, South Carolina-based technology companies grow their business and commercialize their products. Applied research and development creates and leads teams from many industries, organizations and disciplines to develop and apply technology solutions to complex challenges for federal and corporate clients. Research and development facilities build, manage and lease state-of-the-art laboratories, advanced manufacturing facilities and secure spaces for sensitive work.

S.C. Technology Alliance 1201 Main St., Suite 2010 Columbia, SC 29201 803-748-1323 www.sctech.org Established to help prepare a technology-capable workforce, create a business environment friendly to technology-intensive companies, invest to expand the base of rapidly growing companies and startup businesses, and invest in world-class university research programs that are directly linked to South Carolina industry.

SPAWAR P.O. Box 190022 North Charleston, SC 29419-9022 843-218-4000 http://www.public.navy.mil/spawar/Pages/ default.aspx A division of the Department of Navy, SPAWAR delivers higher-end Navy information technology products and services to fleet and other Defense Department stakeholders. As the Navyâ&#x20AC;&#x2122;s Information Dominance Systems Command, Space and Naval Warfare Systems command designs, develops and deploys advanced communications and information capabilities. Supports the full lifecycle of product and service delivery from the initial research and development to acquisition and deployment and operations and logistics support.

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Government Gov. Nikki Haley signed legislation in June that clarifies and strengthens requirements for agendas and public meetings for governing bodies in South Carolina. The law requires governments and other public entities to have agendas for all regularly scheduled meetings and to make that meeting schedule public for the entire year. The law also says that governing bodies cannot add items to an agenda without 24-hours notice or a two-thirds vote of the council after a meeting starts. If a governing body wants to vote on the final reading of an item placed on an agenda at the last minute, the law requires the body to determine the action is an emergency, and that also must pass by a two-thirds vote.

FAST FACTS

$162,816

3

The salary for the mayor of Charleston is

Council members in three S.C. cities make

the highest in the state, followed by North

at least $15K a year: Charleston, North

Charleston at $148,905.

Charleston, Myrtle Beach.

SECTION SPONSOR

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Legislative Representatives S.C. Governor Nikki R. Haley 1205 Pendleton St. Columbia, SC 29201 803-734-2100 www.governor.sc.gov

S.C. Lieutenant Governor Henry McMaster State House, 1st Floor P.O. Box 142 Columbia, SC 29202 803-734-2080 ltgov.sc.gov

U.S. SENATE

Lindsey Graham (R) 290 Russell Senate Office Building Washington, DC 20510 202-224-5972 www.lgraham.senate.gov Local office: 530 Johnnie Dodds Blvd., Suite 202 Mount Pleasant, SC 29464 843-849-3887 Tim Scott (R) 520 Hart Senate Office Building Washington, DC 20510 202-224-6121 www.scott.senate.gov Local office: 2500 City Hall Lane, 3rd Floor Suite North Charleston, SC 29406 843-727-4525

U.S. HOUSE OF REPRESENTATIVES

Mark Sanford (R) 1st District – Horry, Berkeley, Charleston, Dorchester and Georgetown counties 2201 Rayburn House Office Building Washington, DC 20515-4001 202-225-3176 sanford.house.gov Local Office 530 Johnnie Dodds Blvd., Suite 201 Mount Pleasant, SC 29464-3083 843-352-7572 James E. “Jim” Clyburn (D) 6th District – Portions or all of 15 regional counties 242 Cannon House Office Building Washington, DC 20515 202-225-3315 www.house.gov/clyburn Local office: 1225 Lady St., Suite 200 Columbia, SC 29201 803-799-1100

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STATE SENATE

Ronnie A. Sabb (D) District 32 - Berkeley, Florence, Georgetown, Horry and Williamsburg counties 504 Gressette Building Columbia, SC 29201 803-212-6032 Raymond E. Cleary, III (R) District 34 - Charleston, Georgetown and Horry counties 610 Gressette Building Columbia, SC 29201 803-212-6040 Lawrence K. “Larry” Grooms (R) District 37 - Berkeley and Charleston counties 203 Gressette Building Columbia, SC 29201 803-212-6400 Sean Bennett (R) District 38 - Berkeley, Charleston and Dorchester counties 601 Gressette Building Columbia, SC 29201 803-212-6116 John W. Matthews Jr. (D) District 39 - Berkeley, Calhoun, Colleton, Dorchester and Orangeburg counties 613 Gressette Building Columbia, SC 29201 803-212-6056 Paul Thurmond (R) District 41 - Charleston and Dorchester counties 513 Gressette Building Columbia, SC 29201 803-212-6172 Marlon E. Kimpson (D) District 42 - Charleston and Dorchester counties 613 Gressette Building Columbia, SC 29201 803-212-6056 George E. “Chip” Campsen III (R) District No. 43 - Berkeley and Charleston counties 305 Gressette Building Columbia, SC 29201 803-212-6016 Paul G. Campbell Jr. (R) District No. 44 - Berkeley, Charleston and Dorchester counties 604 Gressette Building Columbia, SC 29201 803-212-6016

GOVERNMENT | www.charlestonbusiness.com

District No. 45 An election to fill the late Sen. Clementa Pinckney’s seat is set for Oct. 20.

STATE HOUSE OF REPRESENTATIVES Samuel Rivers Jr. (R) District No. 15 - Berkeley and Charleston counties 323-D Blatt Building Columbia, SC 29201 803-212-6890

David J. Mack III (D) District 109 - Charleston and Dorchester counties 328-D Blatt Building Columbia, SC 29201 803-734-3192 Harry B. “Chip” Limehouse III (R) District No. 110 – Charleston County 326-C Blatt Building Columbia, SC 29201 803-734-2977

Joseph S. Daning (R) District No. 92 – Berkeley County 310-B Blatt Building Columbia, SC 29201 803-734-2951

Wendell G. Gilliard (D) District No. 111 – Charleston County 328-A Blatt Building Columbia, SC 29201 803-212-6793

Jenny Anderson Horne (R) District No. 94 – Charleston and Dorchester counties 308-D Blatt Building Columbia, SC 29201 803-212-6871

F. Michael “Mike” Sottile (R) District No. 112 – Charleston County 310-A Blatt Building Columbia, SC 29201 803-212-6880

Patsy G. Knight (D) District No. 97 – Colleton and Dorchester counties 306-B Blatt Building Columbia, SC 29201 803-734-2960 Christopher J. “Chris” Murphy (R) District No. 98 –Dorchester County 308-A Blatt Building Columbia, SC 29201 803-212-6925 James H. Merrill (R) District No. 99 – Berkeley and Charleston counties 308-C Blatt Building Columbia, SC 29201 803-734-3972

J. Seth Whipper (D) District No. 113 – Charleston and Dorchester counties 328-C Blatt Building Columbia, SC 29201 803-734-3191 Mary E. Tinkler (D) District No. 114 – Charleston and Dorchester counties 333-D Blatt Building Columbia, SC 29201 803-212-6948 Peter M. McCoy Jr. (R) District No. 115 – Charleston County 420-D Blatt Building Columbia, SC 29201 803-212-6872

Edward L. Southard [R] District 100 - Berkeley County 530-D Blatt Office Building Columbia, SC 29201 803-212-6930

Robert L. Brown (D) District No. 116 – Charleston and Colleton counties 330-D Blatt Building Columbia, SC 29201 803-734-3170

Joseph H. Jefferson Jr. (D) District No. 102 – Berkeley and Dorchester counties 304-D Blatt Building Columbia, SC 29201 803-734-2936

William E. “Bill” Crosby (R) District No. 117 – Berkeley and Charleston counties 310-D Blatt Building Columbia, SC 29201 803-212-6879

Steven Goldfinch Jr. (R) District No. 108 – Charleston and Georgetown counties 306-A Blatt Building Columbia, SC 29201 803-212-6927

Leonidas E. “Leon” Stavrinakis (D) District No. 119 – Charleston County 420-C Blatt Building Columbia, SC 29201 803-734-3039

Constitutional Offices

Office of the Adjutant General Maj. Gen. Robert E. Livingston Jr. 1 National Guard Road Columbia, SC 29201-4766 803-299-2965 www.scguard.com/leadership/ major-general-robert-e-livingston-jr

Commerce Department Small Business Services Maceo Nance, director 1201 Main St., Suite 1600 Columbia, SC 29201-3200 803-737-0440 www.sccommerce.com

Office of the Lieutenant Governor Henry McMaster, lieutenant governor State House, 1st Floor P.O. Box 142 Columbia, SC 29202 803-734-2080 www.gov.sc.gov/Pages/default.aspx

S.C. Department of Agriculture Hugh E. Weathers, commissioner 1200 Senate St. P.O. Box 11280 Columbia, SC 29211 803-734-2210 www.agriculture.sc.gov

S.C. Comptroller General Richard Eckstrom, comptroller general 305 Wade Hampton Office Building 1200 Senate St. Columbia, SC 29201 803-734-2121 www.cg.sc.gov

Secretary of State’s Office Mark Hammond, secretary of state Edgar Brown Building 1205 Pendleton St., Suite 525 Columbia, SC 29201 803-734-2170 www.scsos.com

Attorney General’s Office Alan Wilson, attorney general Rembert Dennis Building 1000 Assembly St., Room 519 Columbia, SC 29201 803-734-3970 www.scag.gov

S.C. Department of Employment and Workforce Cheryl Stanton, executive director 1550 Gadsden St. P.O. Box 995 Columbia, SC 29202 803-737-2400 www.dew.sc.gov

State Treasurer’s Office Curtis M. Loftis Jr., state treasurer Wade Hampton Office Building 1200 Senate St. Columbia, SC 29201 803-734-2101 www.treasurer.sc.gov

S.C. Department of Commerce Robert M. Hitt III, secretary 1201 Main St., Suite 1600 Columbia, SC 29201-3200 803-737-0400 www.sccommerce.com

Office of the Governor Nikki R. Haley, governor 1205 Pendleton St. Columbia, SC 29201 803-734-2100 www.governor.sc.gov

COUNTY ADMINISTRATION Charleston County Administrator Keith Bustraan Public Services Building 4045 Bridge View Drive North Charleston, SC 29405 843-958-4000 www.charlestoncounty.org Charleston County Council Herbert Ravenel Sass III (District 1) 843-766-7500 Dickie Schweers (District 2) 843-513-9229 J. Elliott Summey (District 3) 843-958-4031 Henry Darby (District 4) 843-901-6793 Teddie E. Pryor Sr., chairman (District 5) 843-958-4030

State Superintendent of Education Molly Spearman, superintendent 1429 Senate St. Columbia, SC 29201 803-734-8500 www.ed.sc.gov/agency/superintendent

A. Victor “Vic” Rawl (District 6) 843-766-7334 Colleen T. Condon (District 7) 843-225-7288

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CLOSEST BEACH TO HISTORIC CHARLESTON, SOUTH CAROLINA www.follybeachsouthcarolina.org www.charlestonbusiness.com | GOVERNMENT

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Anna B. Johnson (District 8) 843-795-3970

Carroll S. Duncan (District 5) 843-494-1881

Joseph K. Qualey (District 9) 843-693-3434

William R. “Bill” Hearn Jr. (District 6) 843-851-8383

Berkeley County Government Phone numbers: 843-719-4234 (Moncks Corner) 843-723-3800, ext. 4234 (Charleston) 843-567-3136, ext. 4234 (St. Stephen)

Jay Byars (District 7) 843-563-0196

Berkeley County Council William W. Peagler III, chairman and county supervisor 843-719-4094 1003 U.S. Highway 52 Moncks Corner, SC 29461 www.berkeleycountysc.gov Phillip Farley (District 1) 843-747-2486 Joshua Whitley (District 2) 843-696-9094 Kenneth E. Gunn Jr. (District 3) 843-499-2244 Tommy Newell (District 4) 843-442-2109 Dennis Fish (District 5) 843-871-9028 Jack H. Schurlknight (District 6) 843-830-1804 Caldwell Pinckney Jr. (District 7) 843-753-7377 Steve C. Davis (District 8) 843-761-7727 Dorchester County Administrator Jason L. Ward, administrator 201 Johnston St. Kenneth F. Waggoner Building St. George, SC 29477 843-563-0100 www.dorchestercounty.net Dorchester County Council Willie R. Davis (District 1) 843-832-0196 David Chinnis (District 2) 843-801-2326

COUNTY ECONOMIC DIRECTORS

Berkeley County Economic Development Barry Jurs, director 1003 U.S. Highway 52 P.O. Box 6122 Moncks Corner, SC 29461 843-719-4096 www.berkeleycountysc.gov/drupal/econdev Charleston County Economic Development Steven Dykes, director 4000 Faber Place Drive, Suite 200 Charleston, SC 29405 843-958-4511 www.charlestoncountydevelopment.com Dorchester County Economic Development John M. Truluck, director 402 N. Main St. Summerville, SC 29483 843-875-9109 www.dorchesterforbusiness.com

COUNTY AUDITORS Berkeley County Janet Brown Jurosko P.O. Box 6122 1003 U.S. Highway 52 Moncks Corner, SC 29461 843-719-4234

Charleston County Peter Tecklenburg P.O. Box 614 101 Meeting St. Charleston, SC 29402-0614 843-958-4200 Dorchester County James Messervy Main Office: 201 Johnston St. St. George, SC 29477 843-563-0118 Summerville Office: 500 N. Main St. Summerville, SC 29483 843-832-0118

George Bailey (District 3) 843-563-2314 Larry Hargett (District 4) 843-514-7135

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COUNTY TREASURERS Berkeley County Carolyn Umphlett P.O. Box 6122 1003 U.S. Highway 52 Moncks Corner, SC 29461 843-719-4040

Charleston County Andrew C. Smith Main Office: O.T. Wallace County Office Building 101 Meeting St., Suite 240 Charleston, SC 29401 843-958-4360 East Cooper Service Center: 1189 Sweetgrass Basket Parkway Mount Pleasant, SC 29464 843-856-1203 North Charleston Service Center: Lonnie Hamilton III Public Services Building 4045 Bridge View Drive North Charleston, SC 29405 843-202-6691 St. Paul’s Service Center: 5962 S.C. Highway 165, Suite 300 Ravenel, SC 29470 843-889-8351 Dorchester County Main Office: Mary L. Pearson 201 Johnston St. St. George, SC 29477 843-563-0165 Summerville Branch: 500 N. Main St. Summerville, SC 29483 843-832-0165

TRI-COUNTY MUNICIPALITIES Awendaw Mayor: Miriam C. Green 6971 Doar Road Awendaw, SC 29429 843-928-3100 www.awendawsc.org

Bonneau Mayor: Rembert E. Wrenn 420 Municipal Lane P.O. Box 70 Bonneau, SC 29431 Charleston Mayor: Joseph P. Riley Jr. 80 Broad St. Charleston, SC 29401 843-577-6970 www.charleston-sc.gov Building Permits: 843-724-7320

Building Licenses: 843-724-3711 Construction Permits: 843-724-3782 Economic Development: 843-958-4506 Zoning: 843-724-3755 Folly Beach Mayor: Tim Goodwin 21 Center St. P.O. Box 48 Folly Beach, SC 29439 www.cityoffollybeach.com Building Official/Zoning Administrator: 843-588-2447 Goose Creek Mayor: Michael J. Heitzler 519 N. Goose Creek Blvd.

P.O. Drawer 1768 Goose Creek, SC 29445 843-797-6220 www.cityofgoosecreek.com Planning Department: 843-797-6220, ext. 118 Hanahan Mayor: Minnie Newman-Caldwell 1255 Yeamans Hall Road Hanahan, SC 29406 843-554-4221 www.cityofhanahan.com Harleyville Mayor: Charles Ackerman 119 S. Railroad Ave. Harleyville, SC 29448 843-462-7676 www.harleyvillesc.com Hollywood Mayor: Jacquelyn S. Heyward 6316 S.C. Highway 162 P.O. Box 519 Hollywood, SC 29449 843-889-3222 www.townofhollywood.org Isle of Palms Mayor: Richard F. Cronin 1207 Palm Blvd.

P.O. Box 508 Isle of Palms, SC 29451 843-886-9361 www.isle-of-palms.sc.us Building Permits and Business Licenses: 843-886-9912 James Island Mayor: Bill Woolsey 1238 Camp Road P.O. Box 12240 James Island, SC 29412 843-795-4141 www.jamesislandsc.us Jamestown Mayor: Roy P. Pipkin 7604 S.C. Highway 41 P.O. Box 145

Jamestown, SC 29453 843-257-2233 www.bcdcog.com/pdf/Regional_Directory/ jamestown.pdf Kiawah Island Mayor: Charles R. Lipuma 21 Beachwalker Drive Kiawah Island, SC 29455 843-768-9166 www.kiawahisland.org Lincolnville Mayor: Charles B. Duberry P.O. Box 536 Lincolnville, SC 29485 843-873-3261 www.lincolnvillesc.com McClellanville Mayor: Rutledge B. Leland III 405 Pinckney St. McClellanville, SC 29458 843-887-3713 www.townofmcclellanville-sc.net Meggett Mayor: Harry V. “Buster” Herrington III 4776 S.C. Highway 165 Meggett, SC 29449 843-889-3622 www.meggettsc.org

Moncks Corner Mayor: Michael A. Locklier 118 Carolina Ave. P.O. Box 700 Moncks Corner, SC 29461 843-719-7900 www.townofmonckscorner.sc.gov Mount Pleasant Mayor: Linda Page 100 Ann Edwards Lane P.O. Box 745 Mount Pleasant, SC 29464 843-884-8517 www.townofmountpleasant.com Building Inspection and Zoning: 843-8841229 Business Licenses: 843-849-2786 Economic Development: 843-856-2504 North Charleston Mayor: R. Keith Summey 2500 City Hall Lane P.O. Box 190016 North Charleston, SC 29406 843-740-2504 www.northcharleston.org Building Inspection and Permits: 843-7402530 Economic Development: 843-740-2530 Zoning: 843-740-2578

Ravenel Mayor: Opal N. Baldwin 5962 Highway 165, Suite 100 Ravenel, SC 29470 843-889-8732 www.townofravenel.com Reevesville Mayor: Paul Wimberly 6800 Johnston Ave. P.O. Box 126 Reevesville, SC 29471 843-563-9122

St. Stephen Mayor: John Rivers P.O. Box 1146 St. Stephen, SC 29479 843-567-3597 Seabrook Island Mayor: Terrence J. Ahern 2001 Seabrook Island Road Seabrook Island, SC 29455 843-768-9121 www.townofseabrookisland.org

Ridgeville Mayor: James Williams 105 School St. P.O. Box 238 Ridgeville, SC 29472 843-871-7960

Sullivan’s Island Mayor: Pat O’Neil 2050-B Middle St. P.O. Box 427 Sullivan’s Island, SC 29482 843-883-3198 www.sullivansisland-sc.com

Rockville Mayor: Riley Bradham P.O. Box 9 Wadmalaw Island, SC 29487 843-559-0938 www.townofrockville.com

Summerville Mayor: William C. “Bill” Collins 200 S. Main St. Summerville, SC 29483 843-871-6000 www.summerville.sc.us

St. George Mayor: Anne Johnston 305 Ridge St., P.O. Box 904 St. George, SC 29477 843-563-3032

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THE INDEX Real Estate............................................................................................. 4 2014 Charleston area home sales at-a-glance.........................................................................6 Charleston area median sales price......................................................................................... 7 Percent of original list price received....................................................................................... 7 Days on the market until sale.....................................................................................................8 Percentage of original asking price received..........................................................................8 2014 sales by price range.........................................................................................................10 2014 closed sales.......................................................................................................................10 Distressed homes, 2014............................................................................................................11 Charleston area apartment market........................................................................................ 12 Charleston area average rental rates — March 2015........................................................... 13 Charleston area apartment submarket leaders and laggards............................................ 14 Industrial data trends............................................................................................................... 14 Office data trends..................................................................................................................... 15 Retail data trends...................................................................................................................... 15 Industrial buildings................................................................................................................... 16 2014 South Carolina area home sales at-a-glance................................................................ 18 Sales by price range in S.C....................................................................................................... 19 Closed sales in S.C..................................................................................................................... 19

Architecture, Engineering and Construction...................................... 20 Architecture, Engineering and Construction Related occupations and wages, Charleston MSA, 2014......................................................22 Construction jobs in S.C...........................................................................................................23 Architecture and engineering employment, Charleston-North Charleston area, 2013...24 Construction growth, 2015 over 2014....................................................................................25 Housing building permits.........................................................................................................26 Housing construction costs.....................................................................................................26 New construction homes for sale...........................................................................................27 Percentage of housing market that is new construction.....................................................27 Housing Starts for South Carolina, 1988-April 2015.............................................................28 Constructing Jobs....................................................................................................................29 Construction’s high-growth.....................................................................................................29 Cost of construction lower than national average................................................................29 Charleston under construction.............................................................................................. 30

Financial Services............................................................................... 34 Charleston’s largest credit unions......................................................................................... 36 Deposit market share report, Charleston MSA.....................................................................37 Percent of unprofitable financial institutions in South Carolina 2010-2014.......................37 South Carolina banking performance................................................................................... 38 Charleston SBA loan approvals, fiscal year 2015.................................................................. 38

Demographics..................................................................................... 40 How much do South Carolinians make?.................................................................................42 Average wage comparison, 2013............................................................................................43 Cost of living index, Charleston MSA.......................................................................................43 2014 Charleston-area population........................................................................................... 44 Comparing Lowcountry population density.......................................................................... 44 Military retirees don’t stand down......................................................................................... 44 Commuting to work – 2012 American Community Survey.................................................. 45 Mean travel time to work in minutes, 2013............................................................................ 45

Employment and Economic Development............................................ 46 Economic Drivers..................................................................................................................... 48 VOLVO’s impact......................................................................................................................... 48 Mercedes-Benz Vans plant expansion................................................................................... 48 The aerospace industry’s economic impact in S.C............................................................... 49

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Boeing in South Carolina......................................................................................................... 49 South Carolina union stats...................................................................................................... 50 Growing entrepreneurs.......................................................................................................... 50 Ranking by market value of agricultural products sold in S.C............................................. 50 Charleston Digital Corridor’s 2014 wage survey................................................................... 51 Charleston-area companies on the INC 5000 list of fastest growing companies (2014)......... 51

Education..............................................................................................52 Degrees awarded by S.C. institutions.................................................................................... 54 Technical education on the rise.............................................................................................. 54 College tuition costs on the rise............................................................................................. 54 Average student loan debt...................................................................................................... 56 National Science Foundation funding for S.C. colleges and universities............................ 56 Cumulative distribution of net lottery proceeds through FY 2013-14................................. 56 Ten-year comparison of state education recurring appropriations for colleges and universities, FY 2005-06 to FY 2014-15...................................................... 56 Charleston-area school districts........................................................................................... 58

Import, Export and Distribution.......................................................... 60 Automotive drives S.C.exports in 2014...................................................................................62 Ports operating revenue......................................................................................................... 63 S.C. Inland Port at Greer......................................................................................................... 63 A global presence: Charleston exports on the rise.............................................................. 64 Top 5 countries sending imports to S.C., 2014...................................................................... 65 Top 5 countries receiving exports from S.C., 2014............................................................... 65 S.C. roads problem in numbers............................................................................................. 6 6

Regional Competitiveness................................................................... 68 Regional Economic Scorecard................................................................................................70 Regional Education Report......................................................................................................72 Housing Blueprint.....................................................................................................................73

Hospitality and Tourism........................................................................74 2014 tourism statistics.............................................................................................................76 Charleston’s wedding economy............................................................................................... 77 Craft beer 5-year outlook in S.C.............................................................................................. 77 Charleston-area events by the numbers................................................................................78 Golfing in S.C..............................................................................................................................78

Medical and Health Care...................................................................... 80

Financial performance of Charleston area hospitals, 2013..................................................82 Employment and earnings for health care professionals in the Charleston region, 2013.83 Affordable Health Care Act .................................................................................................... 84 South Carolinas’ health care rankings................................................................................... 85 The breakdown on obesity...................................................................................................... 85

Business Resources............................................................................. 86 Chambers of Commerce......................................................................................................... 88 Economic Development........................................................................................................... 89 Financial Assistance................................................................................................................ 90 Human Resources.................................................................................................................... 90 Miscellaneous Business Directory..........................................................................................92 Technology.................................................................................................................................92

Government........................................................................................ 94 Legislative Representatives.................................................................................................... 96 Constitutional Offices...............................................................................................................97