2016 Charleston Market Facts

MARKETFACTS August 2016 | www.CharlestonBusiness.com

FULL STEAM AHEAD The data and information to propel your business

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Counting cranes and not our blessings 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 Associate Publisher - Licia Jackson ljackson@scbiznews.com • 803.726.7546 Editor - Chuck Crumbo ccrumbo@scbiznews.com • 803.726.7542 Staff Writer - Melinda Waldrop mwaldrop@scbiznews.com • 803.726.7543 Research Specialist - Patrice Mack pmack@scbiznews.com • 803.726.7544 UPSTATE NEWSROOM Editor - Matthew Clark mclark@scbiznews.com • 864.235.5677, ext. 107 Staff Writer - Bill Poovey bpoovey@scbiznews.com • 864.235.5677, ext. 104 Staff Writer - Teresa Cutlip tcutlip@scbiznews.com • 864.235.5677, ext. 103 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

I always come out of the summer doldrums when it’s time to publish Market Facts. The summer is a challenging season because the vacations of our staff, and clients make us work a little harder to keep all the trains on the tracks. The summer also makes me glad I have a cushy desk job instead of being outside in this blazing heat working on one of the construction sites that seem to be everywhere you look. I’ve heard it said that you can gauge the health of the local economy by counting the number of construction cranes you see over the city.

Using that measure, we are in pretty good shape.

But it is impossible to engage anyone in a conversation about our local economy without it veering into a litany of the unwanted by-products of our region’s economic success. There seems to be a growing anger within our community that is out of step with the optimism and can-do attitudes of our economic developers and business leaders.

Let’s face it, no one likes change, but the vitriolic response to growth we see reflected in town council, architectural review meetings, and the like, is a major cause for concern. Our elected officials need to preside over our official public meetings with a heavier gavel and enforce a stricter level of civility to public discourse. Name callers, shouters and interrupters should be disciplined or ejected. That’s not freedom Grady Johnson of speech. It’s bad manners. In addition, the business community needs to double down on making sure everyone understands how to participate in the region’s success. Otherwise, a loud and angry not-in-myPresident and backyard faction may hijack years of regional planning and unintentionally make the problems worse.

Group Publisher And if you are curious about the growth we measure for the business community, here’s a big book full of trending facts to give you some indication of where we are heading. When we came up with the original idea of publishing 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 graphic artists are masters at presenting complex information in a way that is pleasing to the eye and easily understandable, and Market Facts is their tour de force. Each year, the team improves 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 the University of South Carolina’s Darla Moore School of Business with a master’s degree in economics, to do the research.

I would also be remiss if didn’t give kudos to the Charleston Regional Development Alliance and the Charleston Metro Chamber of Commerce for their foresight in publishing the region’s Economic Scorecards, some of which we have excerpted in this publication. It’s a brave move for organizations devoted to marketing and advocacy for the region’s business community to partner with independent journalists like us to lend credibility and to publish research on the region, showing the good, the bad and the ugly. Hanging the region’s shortcomings out there for all to see has effectively galvanized regional leadership, and the progress made over the past six years we have published the Economic Scorecards has been impressive.

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, the College of Charleston, HITT Contracting and Integral Solutions Group, 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!

Account Executive - Bennett Parks bparks@scbiznews.com • 843.849.3126

South Carolina’s Media Engine for Economic Growth

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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 (27 issues) for $49.95; two years (54 issues) for $84.95; three years (81 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.

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1

Contents 4

Real Estate

62

Import, Export and Distribution

22

Architecture, Engineering and Construction

70

Hospitality and Tourism

36

Financial Services

80

Medical and Health Care

42

Demographics and Economic Development

86

Business Resources and Government

54

Education

SECTION SPONSORS REAL ESTATE

2

ARCHITECTURE, ENGINEERING AND CONSTRUCTION

FINANCIAL SERVICES

EMPLOYMENT AND ECONOMIC DEVELOPMENT

EDUCATION

IMPORT, EXPORT AND DISTRIBUTION

MEDICAL AND HEALTH CARE

www.charlestonbusiness.com

Welcome from our sponsors

T

he College of Charleston is about educating people and preparing them for the jobs and industries of today and tomorrow.

We are a nationally recognized public liberal arts and sciences university located in the heart of downtown Charleston.

Although we were founded in 1770 (and are the oldest university in South Carolina), we’re cutting edge in our approach to educating today’s and tomorrow’s leaders. We pride ourselves on providing an intellectually stimulating environment where students – both traditional and nontraditional – are challenged by a committed and caring faculty of distinguished teacher-scholars.

When our students depart through our gates as graduates, they are prepared to think creatively, critically, and analytically in the workforce – all time-tested skills that will always be valuable in our rapidly changing global society.

We invite you to learn more about the College of Charleston and see how you might partner with us in 2016 and beyond.

As we know, the possibilities of this region, like the opportunities here at the College, are boundless.

A

t HITT, construction is much more than a job — it’s a passion. Over the last 19 years, we’ve used that drive to build a tradition of quality here in Charleston, striving to meet the highest standards for our Clients in the lowcountry.

With expertise in campus development, corporate interiors, health care, hospitality, education, industrial, aviation, law firms, defense and government projects, our team has successfully executed jobs across the region’s top industries. Whether the project is new construction or renovation, we have the knowledge and experience to deliver above expectation.

Looking ahead to our 20th year, we’re focused on continuing to build strong relationships here in Charleston and look forward to many more shared successes to come.

I

ntegral is a highly reliable technology provider that emphasizes stability and quality of service in addressing the business-critical needs of our customers.

As a full-service IT company, Integral Solutions Group is dedicated to meeting and exceeding customer expectations through on-time, cost effective services and solutions maximizing uptime, performance and security. Working as a close partner and advisor, Integral assists clients in working through the design, integration and management of IT systems. Paying particular attention to the growing requirements of regulatory issues, business continuity and network optimization, Integral Solutions Group ensures critical IT infrastructure consistently advances our client’s business objectives.

www.charlestonbusiness.com

3

Real Estate The Charleston region’s residential real estate market returned from the post-recession doldrums with a vengeance. Agents and brokers report homes in specific areas of the market are selling within days of being on the market with many homes going for near asking price. The trend shows no signs of letting up in 2016 with sellers in Berkeley County seeing nearly 97% of asking price reflected in closings. Berkeley County also serves as the top market for new home construction as a percentage of home sales, with more than 30% of closings coming from new homes.

FAST FACTS

62

13.7%

Average days on market for 2015 before

Percentage increase in Charleston-area

a home sale in the Charleston area.

closings in 2015 compared to 2014.

PAGE 8

PAGE 6

SECTION SPONSOR

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REAL ESTATE | www.charlestonbusiness.com

2015 Charleston area home sales at-a-glance Charleston Area Total Closed Sales

Berkeley County

16,202 (+13.7%)

Charleston County

8,591

Dorchester County

3,879

(+12.7%)

21.3%

30.9%

18.4%

22.0%

Days on Market

62

57

62

59

Percent of original price received

95.9%

96.9%

95.6%

96.6%

(Percent increase from 2014)

Percent new construction

(+19.2%)

2,989

(+13.7%)

Source: Charleston Trident Association of Realtors, 2015 Annual Report SPONSORED CONTENT

6

REAL ESTATE | www.charlestonbusiness.com

Charleston area median sales price Percent of original list price received Year end 2015 data for single-family homes

$219K

2011

2012

$229K

$244K

.2 7% 2 9 201

% 4 .

5 9 14 % 20 6 .

4 9 013 2

96.1% 2015

100%

11

90 .5 20 %

$198K

$206K

Year end 2015 data for Charleston for single-family homes

2013

2014

2015

85% Source: Charleston Trident Association of Realtors, 2015 Annual Report

www.charlestonbusiness.com | REAL ESTATE

7

Days on the market until sale 150 140

– Single-Family

Market speeds up

– Condos

Some brokers report homes being sold in just a few days, a trend that keeps prices rising and fuels faster sales as a fear of missing out keeps negotiations to a minimum.

130 120 110 100 90 80 70 60 50 Jan. 2011

Jan. 2012

Jan. 2013

Jan. 2014

Jan. 2015 Source: Charleston Trident Association of Realtors, 2015 Annual Report

Monthly number of showings

11.0

25,000

22,500

Median Number of Showings before Pending Sale

20,000

17,500

15,000

12,500

10,000

7,500 Dec. 2012

Dec. 2013

Dec. 2014

Dec. 2015 Source: Charleston Trident Association of Realtors, 2015 Annual Report

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REAL ESTATE | www.charlestonbusiness.com

2015 closed sales

10,638

13,102

Inventory of homes for sale Year end 2015 data

14,256

16,202

7,651 6,465

6,190

6,118 4,985

9,380

+13.4%

+23.2% from 2012

from 2013

from 2014

2012

2013

2014

2015

from 2011

2011

+8.8%

+13.7%

2011

-4.3%

-1.2%

-18.5%

from 2011

from 2012

from 2013

from 2014

2012

2013

2014

2015

Top 5 areas: Change in closed sales from 2014

Top 5 areas: Change in homes for sale from 2014

Johns Island................................................................................. + 52.7%

Dorchester Road Corridor............................................................+ 0.7%

Sullivan’s Island........................................................................... + 36.6%

Johns Island....................................................................................- 5.6%

Hanahan......................................................................................... + 31.1%

Seabrook Island.............................................................................. - 5.7%

Hollywood / Ravenel / Meggett Area..........................................+ 28.2%

Sullivan’s Island............................................................................... - 5.7%

Folly Beach....................................................................................+ 24.2%

Goose Creek / Moncks Corner.......................................................- 6.1%

Source: Charleston Trident Association of Realtors, 2015 Annual Report

10

-15.5%

REAL ESTATE | www.charlestonbusiness.com

Source: Charleston Trident Association of Realtors, 2015 Annual Report

Distressed homes, 2015

Charleston-area homeownership costs

Percentage of sales that were distressed in the Charleston area

Mount Pleasant has the highest median monthly costs for homeownership across the region.

$2,065

-40.0%

28.8% 25.8%

$1,736 $1,423 $1,415

One-year change in sales of distressed homes

18.0%

$1,359

12.5% 7.5%

Mount Pleasant

Charleston

Summerville

Goose Creek

North Charleston

Source: S.C. Community Loan Fund

2011

2012

2013

2014

2015

Source: Charleston Trident Association of Realtors, 2015 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 2016 $1025

– Berkeley

Two bedroom $/month

$1075 $1050

Total apartment units - March 2016 – Dorchester

– Charleston – Average Monthly Rent

37.0%

3,630

8,297

Monthly rental rates increased by $288 from Feb. 2011 to Feb. 2016

Goose Creek

Summerville $

$1000

963

966

$

$975 $950

5,503

$925

North Charleston

$900

$

$875

West Ashley

$825

$

$800

12

REAL ESTATE | www.charlestonbusiness.com

Mount Pleasant

8,894

$850

$775 Feb. 2011

5,453

845

1,010

1,988

James Island

1,382

$

Feb. 2016

1,479

1,434

$

Downtown

1,234

$

Source: Real Data Charleston March 2016 publication

Apartment units under construction

Number of units 5,000 4,500 4,000 3,500

Projects like the Bridgeside at Patriots Point are part of the apartment building boom currently underway in the Charleston region. (Photo/Provided)

3,000 2,500 2,000 1,500

634

1,634

1,525

2,415

2,525

3,497

3,140

3,700

4,533

Feb. 2011

Aug. 2011

Feb. 2012

Aug. 2012

Feb. 2013

Aug. 2013

Feb. 2014

Aug. 2014

Feb. 2015

Aug. 2015

500 0

3,587

0

1,000

Feb. 2016

Source: Real Data, Charleston Apartment Index

www.charlestonbusiness.com | REAL ESTATE

13

Office data trends

Retail data trends

Vacancy Rates

Vacancy Rates

10%

6%

Anchored Shopping Centers

Office buildings over 10,000 SF

9.8% 9.4%

9%

5.5%

Period

4.5% 2015 Q2

2015 Q3

Net absorption

2015 Q4

2016 Q1

Average rental rate (full service)

Period

2015 Q2

2015 Q3

Net absorption

2015 Q4

2016 Q1

Average rental rate (nnn)

2016 Q1 7,973

$23.30

2016 Q1 -49,830

$18.62

2015 Q4 185,987

$23.10

2015 Q4 29,141

$18.40

2015 Q3 280,159

$23.17

2015 Q3 123,771

$17.96

2015 Q2 75,829

$22.05

2015 Q2 105,832

$18.28

Source: Colliers International

14

5.0%

7.8%

7.8%

5.3%

5.2%

5%

8%

7%

5.6%

REAL ESTATE | www.charlestonbusiness.com

Source: Colliers International

Industrial data trends Industrial buildings over 10,000 SF

• The first building of the Charleston Trade Center along Interstate 26 in Summerville is expected to deliver by the end of 2016. It will be roughly 307,000 square feet.

Vacancy Rates 8%

• Brookwood Capital Partners is developing two speculative buildings — 144,000 square feet and 154,000 square feet — and one 100,000 square-foot build-to-suit space in the new Airport Commerce Center in North Charleston.

7.8% 7%

7.2%

6.9%

6%

Period

• Construction of Building Two at Atlas Commerce Center in Ladson is underway with expected delivery in the third quarter of 2017. The speculative building will be 67,500 square feet.

Several industrial projects delivered in Q2: • The 351,000-square-foot Building 1 at the North Pointe Business Campus in Hanahan delivered this quarter.

5.8% 5%

Several Class A industrial projects are nearing completion in the Charleston market:

2015 Q2

2015 Q3

Net absorption

2015 Q4

2016 Q1

Average rental rate (nnn)

2016 Q1 958,759

$4.68

2015 Q4 1,027,512

$4.73

2015 Q3 272,179

$4.52

2015 Q2 113,133

$4.32

• A 142,000-square-foot speculative building, developed in Palmetto Commerce Park on Cross Point Drive in North Charleston, delivered at the end of the quarter. The building was leased to AHT Cooling Systems.

• Buildings A and B, located at 7593 Sandlapper Parkway in North Charleston, delivered in the second quarter. Both buildings are 10,000-square-foot warehouse spaces.

• A 50,000-square-foot flex building in the Banks Commerce Park on Industrial Center Drive in North Charleston delivered in Q2.

Source: Colliers International & CoStar

www.charlestonbusiness.com | REAL ESTATE

15

Office submarket comparison, August 2016 Daniel Island

Downtown

Mount Pleasant

Summerville/Goose Creek

Average rental rates per square foot

$25

$20

1,000,000

910,025

800,000

$24.30 $20.09

West of the Ashley

Total available square feet

$30.33

$30

North Charleston

$21.21 $19.69

600,000

$17.27 $15

400,000

226,008 $10

189,320

200,000

89,316 $0

151,694

193,172

0 Source: Lee & Associates

16

REAL ESTATE | www.charlestonbusiness.com

Retail submarket comparison, August 2016 Daniel Island

Downtown

Mount Pleasant

Summerville/Goose Creek

Average rental rates per square foot

West of the Ashley 553,818

Total available square feet

$40.25

$40

North Charleston

500,000

$35

399,814

400,000 $30

307,412 300,000

$25

$21.03 $20

$16.57

$15.96 $15

$13.08

$12.66

200,000

187,628

100,000

63,212

$10

13,155 $0

0 Source: Lee & Associates

www.charlestonbusiness.com | REAL ESTATE

17

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

1125 Newton Way Summerville, SC 29483

440,000

32'-41'

64

Metal

1999

CB Richard Ellis

843-577-0702 www.cbre.com

1023 Magi Road Hanahan, SC 29410

351,000

28'-30'

24

Reinforced Concrete

2016

Colliers International

843-723-1202 www.colliers.com

2310 Charleston Regional Parkway Charleston, SC 29492

279,000

30'0"

38

Reinforced Concrete

2015

Childress Klein Properties

704-342-9000 www.childressklein.com

1980 Technology Drive Charleston, SC 29492

253,500

30

92

Reinforced Concrete

2007

CBRE

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

9801 Highway 78 Ladson, SC 29456

250,000

100

4

Metal

1968

JLL

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

1 Belt Drive Moncks Corner, SC 29461

240,000

13'0"

4

Metal/ Concrete

1950

CB Richard Ellis

843-577-0702 www.cbre.com

1588 Bushy Park Rd Goose Creek, SC 29445

193,700

21'

9

Reinforced Concrete

1994

Cooper River Partners

-

4531 Piggly Wiggly North Charleston, SC 29405

183,535

26'

31

Concrete

1980

CB Richard Ellis

843-577-0702 www.cbre.com

4597 Appian Way North Charleston, SC 29420

157,320

21'

20

-

1999

CB Richard Ellis

843-577-0702 www.cbre.com

9801-2 Highway 78 Ladson, SC 29456

144,000

90

0

Metal

1968

JLL

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

211 Farmington Road Summerville, SC 29483

131,535

15.5-22

20

Structural Steel

1979

Colliers International

843-723-1202 www.colliers.com

2701 Azalea Drive North Charleston, SC 29405

130,000

22'

10

-

-

Jones Lang LaSalle

843-323-4201 www.jll.com

324 Deming Way Summerville, SC 29483

130,000

21’-8�

14

Metal

1998

Colliers International

843-723-1202 www.colliers.com

5801 North Rhett Hanahan, SC 29410

101,823

24' 6"

18

Reinforced Concrete

1988

Jones Lang LaSalle

843-323-4201 www.jll.com

1701 Charleston Regional Parkway Charleston, SC 29492

97,500

-

-

Tilt-Up

2016

CB Richard Ellis

843-577-0702 www.cbre.com

2440 Clements Ferry Road Charleston, SC 29492

90,000

28'- 30'

12

Reinforced Concrete

2000

Colliers International

843-723-1202 www.colliers.com

1028 LeGrand Blvd Charleston, SC 29492

87,000

-

-

-

1995

Rock Creek CRE

843-568-3427 www.rockcreekcre.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.

18

REAL ESTATE | www.charlestonbusiness.com

Researched by Business Journal staff

2015 South Carolina area home sales at-a-glance South Carolina

Charleston area

16,237

Greenville area

11,591

(+13.9%)

11,010

15.0%

16.0%

6.7%

7.8%

Days on Market

106

62

96

74

Percent of original price received

96.4%

97.7%

96.2%

97.0%

Total Closed Sales

51,946

(Percent increase from 2014)

Median sales price

Percent of original list price received

Year end 2015 data for South Carolina

Year end 2015 data for South Carolina

2011

+3.4%

$172K +6.2%

from 2014

12

from 2013

from 2012

from 2011

2012

100%

11

$145K

+4.3%

% 20 5 .

95 2013

2015

94.

2 20 %

$150K

+3.5%

% 8 .

5 9 14

96.4%

94 .

20 9%

$162K $156.5K

(+12.9%)

(+12.2%)

(+11.7%)

Percent condos

20

Columbia area

2013

REAL ESTATE | www.charlestonbusiness.com

2014

2015

90% Source: South Carolina Association of Realtors, 2015 Annual Report

Hate paying property taxes?

That’s why you’re in South Carolina American households pay an average of $2,089 a year in property taxes. But South Carolina beats that tax burden by more than 44%. That’s right: South Carolina’s property taxes are nearly half the U.S. average, giving the state one of the highest rankings for the lowest property taxes. Below you’ll see ten states where you’ll pay the lowest property taxes on average as of 2015, Hawaii being the lowest.

Colorado

$1,089

Wyoming

$1,069

Arkansas

$1,068 $1,015

West Virginia

$1,001

Wash. D.C.

$984

South Carolina

$917

Delaware Louisiana

$832

Alabama

$752

Hawaii

$482 = $100

Source: MarketWatch, WalletHub.com analysis *Even though it’s not a state, Washington, D.C., levies property taxes on residents who live there.

Closed sales in S.C. 60,579 45,023

50,990 +13.3%

64,417

71,946 +11.7%

+18.8%

+6.3%

from 2014

from 2013

2013

2014

2015

from 2012

from 2011

2011

2012

Top 5 areas: Change in closed sales from 2014 Greenwood.................................................................................... +17.9% Western Upstate.......................................................................... +14.6% Charleston Trident....................................................................... +13.9% Hilton Head....................................................................................+13.2% Greater Greenville.........................................................................+12.9% Source: South Carolina Association of Realtors, 2015 Annual Report

www.charlestonbusiness.com | REAL ESTATE

21

Architecture, Engineering and Construction Architecture, engineering and construction remain strong economic indicators as growth and development explodes across the Lowcountry. Architecture and engineering accounted for nearly $400 million in payroll last year across the region. Construction remains a growth area for jobs with increases in every county, including 7.9% more jobs in Berkeley County, 12.9% in Charleston County and 21.2% in Dorchester County.

FAST FACTS

21.2%

$949

Increase in construction jobs in Dorchester

Average weekly wage for construction

County compared to previous year.

workers in Charleston County.

PAGE 24

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SECTION SPONSOR

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

Construction jobs by county 12,000

Employment in construction continues to grow across the three-county area.

12.9%

increase

Architecture and engineering employment Charleston-North Charleston Area

10,000

8,000

2014

2015

6,000

7.9%

4,000

increase

21.2%

increase

Berkeley

Dorchester

11,052

9,789

1,724

1,423

2,885

0

2,673

2,000

Charleston

Source: S.C. Commerce Department Labor Market Analysis

24

ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

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:

Number of companies 69

Total mid-March employees 355

Annual payroll $25,017,000

15

44

$1,790,000

180

4,362

$341,206,000

9 12

* *

$1,275,000 $1,303,000

**

**

**

24

156

$6,951,000

15

400

$20,397,000

324

5,378

$397,939,000

* Not published this year. ** Stagnant or little growth in the past three years of total employment Source: U.S. Census Bureau, County Business Patterns, 2014

Career paths in construction and engineering Engineering and construction companies hire workers from three specific career paths.

$ = 2013 Hr/Wage % = Projected 2012-22 growth

Construction Jobs Statewide

Brick Mason/Tile Setter Helper $11.53 43% Electrician Helper $11.22 38% Cement Mason/Concrete Finisher $14.61 28% Construction Laborer $13.77 25% Paving/Surfacing/ Tamping EquipmentOperator $14.46 20%

Four or more years of education beyond high school

Carpenter $17.97 25% Reinforcing Iron Worker $23.89 24% HVAC Mechanic & Installer $18.86 22% Plumber $18.81 21% Construction Equipment Operator $17.65 19%

Cost Estimator $27.13 30% Civil Engineer $36.56 22% Construction Manager $41.44 16% Construction/ Building Inspector $21.90 14% Crane & Tower Operator $26.36 11%

Civil Engineer $36.56 22% Biomedical Engineer $36.62 20% Environmental Engineer $32.89 18% Landscape Architect $31.30 18% Nuclear Engineer $43.32 16%

Engineering Jobs Statewide Extensive on-the-job training, apprenticeship, or two to four years of education beyond high school High school diploma/GED

Drafter n/a 24% Environmental Engineering Technician $28.59 14% Industrial Engineering Technician $27.87 11% Civil Engineering Technician $21.48 7% Mechanical Engineering Technician $25.04 7%

Surveying/ Mapping Technician $20.20 15%

Source: S.C. Department of Employment & Workforce Business Intelligence Department

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New construction homes for sale 1,600

April ’11 Peak of New Construction Inventory

1,500

1,400

1,300

1,200

319

Drop in New Construction Inventory from Peak

1,100

1,000 2011

2012

2013

2014

Source: 2015 Annual Report on the Charleston Area Housing Market

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2015

Top areas: New construction market share in 2015 Johns Island 39.4% Wando / Cainhoy Area 37.0% Upper Mount Pleasant 35.7% Goose Creek / Moncks Corner 35.2% Daniel Island 27.7% Greater North Charleston 25.7% Greater Summerville Area 24.4% Hollywood / Ravenel / Meggett Area 24.2% Dorchester Road Corridor 18.6% Hanahan 17.3% West Ashley Area 12.5% James Island 12.4% Upper Charleston Peninsula 7.6% Lower Mount Pleasant 7.5% Folly Beach 6.1% Kiawah 5.9% Downtown Charleston 2.1% Sullivan’s Island 1.8% Isle of Palms 1.7% Seabrook Island 1.5% Edisto Area 0.7% Source: 2015 Annual Report on the Charleston Area Housing Market

Construction growth, 2016 over 2015

Growth in Housing Starts Charleston

7.4%

Columbia

11.1%

Greenville

-6.7% 0%

S.C. construction employment growth

8%

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

6.8%

Heavy and civil engineering construction

3%

Specialty trade contractors

4.1%

Source: Charleston Home Builders Association, Economic Impact Report

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Construction jobs

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

Charleston 11,052 jobs within 1,170 companies $949 avg. weekly wage

Berkeley

2,885 jobs within 325 companies $807 avg. weekly wage

Dorchester 1,724 jobs within 283 companies

$731 avg. weekly wage

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

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Months supply of inventory in the Charleston area

3.7

Year-end months supply New Construction 2011

2012

2013

2014

2015

Percent of original list price received in the Charleston area This chart uses a rolling 12-month average for each data point.

3.4

Year-end months supply Previously Owned

100.4% 94.7% Pct. of orig. price received New Construction

102%

10.9

100%

Pct. of orig. price received Previously Owned

New Construction Previously Owned

98%

7.9

96%

6.5 4.5

6.0

5.2 4.4

94%

5.1 3.7

3.4

92% 90% 88%

New Construction

Previously Owned

Source: Charleston Trident Association of Realtors 2015 Annual Report

86%

2011

2012

2013

2014

2015

Source: Charleston Trident Association of Realtors 2015 Annual Report

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Housing Starts for South Carolina, January 1988-April 2016

4,400

4,000

3,600

Great Recession Officially was from December 2007 to June 2009. Signs of the housing bubble began to appear in the first parts of 2006, as a rapid decrease in housing starts was underway.

3,200

2,800

2,400

2,000

1,600

1,200

800

Jan. 1988

April 2016 Source: Federal Reserve Bank of St . Louis

30

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Construction Costs in S.C. % below the U.S. average

Construction costs vary, so builders use area modification factors to estimate costs. Factors in specific S.C. cities are shown below.

U.S. Average -1% -2% -3% -4% -5% -6% -7% -8% -9% -10%

Charleston

Columbia

Greenville

Myrtle Beach

Rock Hill

Spartanburg

Beaufort

Source: 2015 National Building Cost Manual - Craftsman

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CHARLESTON UNDER CONSTRUCTION Pacific Box & Crate

1505 Monrovia St., Charleston Developer/owner: Dixie King Street Investors, Charleston Architects: LS3P Associates, Charleston; The Middleton Group, Charleston General contractor: Trident Construction, North Charleston Engineers: Seamon Whiteside & Associates, Mount Pleasant (civil); Remark Studio, North Charleston (landscape architecture); Johnson, Mirmiran & Thompson, Charleston (structural); DWG Consulting Engineers, Mount Pleasant (mechanical, electrical, plumbing and fire protection) Estimated completion date: February 2017 Estimated total cost of project: $18 million The 9.2 acre, mixed-use development off Upper King Street contains an existing, 80,000-square-foot warehouse that will be renovated for multitenant uses including a high-tech software company, general office and brewery with a charcuterie restaurant and tasting room. The development also includes a new, two-story, 13,000-square-foot core-and-shell office addition and two, 17,000-square-foot freestanding buildings. The new buildings will provide spaces for a yoga studio, cafe, restaurant and general offices.

Mount Pleasant Town Hall

100 Ann Edwards Lane, Mount Pleasant Developer/owner: Town of Mount Pleasant Architect: Stubbs Muldrow Herin Architects, Mount Pleasant General contractor: McKnight Construction, Augusta, Ga. Engineers: Seamon Whiteside & Associates, Mount Pleasant (civil and landscape architecture); Curry Engineers, Mount Pleasant, (structural); DWG Consulting Engineers, Mount Pleasant (mechanical, electrical, plumbing); Craig Gaulden Davis, Greenville, and Innovink, Mount Pleasant (interiors) Estimated completion date: 2017 Estimated total cost of project: $22 million This project is a replacement of the current building, requiring phasing and programming to cause minimal interruption in government services. The new town hall is a sustainable design that will replace the current building. Departments include executive offices, communication and administrative services, transportation, fire, legal, municipal, planning, public services, recreation, police and tourism.

College of Charleston Rita Hollings Science Center and Physicians Auditorium

58 Coming St., Charleston Developer/owner: College of Charleston Architects: Rosenblum Coe Architects, Charleston, in association with HDR Architecture, Atlanta General contractor: MB Kahn Construction Co., Charleston Engineers: MBP, Charleston (construction adviser); RMF Engineering, Charleston (mechanical, electrical, plumbing); Larry Lord, Atlanta (planning); ADC Engineering, Hanahan (structural, civil, landscape, building envelope); Aiken Cost Consultants, Greenville (cost consulting); Applied Building Sciences, North Charleston (building envelope) Estimated completion date: May 2017 Estimated total cost of project: $45 million This project includes renovation and expansion of the Rita Hollings Science Center Building. The total square footage of the renovated facility is 149,000 gross square feet, including a rebuilt Physicians Auditorium with two additional floors for faculty offices. The new, three-story structure will house a multifunctional auditorium with a maximum seating capacity of 500.

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CHARLESTON UNDER CONSTRUCTION

Clemson University Restoration Institute Graduate Education Center

1250 Supply St., North Charleston Developer/owner: Clemson University, Clemson Architect: LS3P Associates, Charleston General contractor: Choate Construction Co., Mount Pleasant Engineers: Seamon Whiteside & Associates, Mount Pleasant (civil); MMSA, Greenville (structural); RMF Engineering, Charleston (mechanical) The facility is nearly 65,000 square feet of space comprising structural steel beams and columns with glass curtain walls and a rain-screen, aluminum composite material metal-panel system. Sustainability features and environmental initiatives are implemented with goals of LEED Silver certification.

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Summerville Commissioners of Public Works office building

215 N. Cedar St., Summerville Developer/owner: Summerville Commissioners of Public Works Architect: Karpus Design LLC, Summerville General contractor: Hill Construction, Charleston Engineers: Cypress Engineering, Summerville (civil); Remark Landscape Architecture, Charleston (landscape); Stephen S. Caskie, Charleston, (structural); Live Oak Consultants, North Charleston (mechanical, electrical, plumbing) Estimated completion date: May 2017 Estimated total cost of project: $5.2 million The new project will include a two-story, 15,000-square-foot office building and drivethrough on a developed 2.63-acre site. The building will be situated on the property setback from Cedar Street to provide a brick- and stone-paved public courtyard, seat wall, benches and fountain.

Charleston Trade Center

180 Trade Center Parkway, Summerville Developer/owner: The Keith Corp., Charlotte Architect: Merriman Schmitt Architects Inc., Charlotte General contractor: Choate Construction Co., Mount Pleasant Engineer: Alliance Consulting Engineers, Charleston (civil) The project involves the construction of a 305,000-square-foot speculative warehouse with plans for a 750,000-square-foot expansion. The tilt-wall structure is topped with a 45-mil thermoplastic polyolefin roof and houses a tenant space suited for warehouse and industrial operations.

Southern First Bank

80 Calhoun St., Charleston Developer: Avison Young, Charleston Architect: Stubbs Muldrow Herin Architects, Mount Pleasant General contractor: SouthCon Building Group, Mount Pleasant Engineers: ADC Engineering Specialists, Hanahan (structural); Seamon Whiteside & Associates, Mount Pleasant (civil engineering, landscape architecture); MECA Inc., Columbia (mechanical, plumbing and fire protection); Charleston Engineering, Charleston (electrical) This 17,000-square-foot new building, currently under construction on the corner of Calhoun and Elizabeth streets in downtown Charleston, has a three-story design that consists of parking and a walk-in bank lobby at the ground level, with offices located on the second and third floors.

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35

Financial Services The Charleston financial market represents $11.3 billion in bank deposits, a 28.6% increase from the previous year. Wells Fargo remains the largest financial institution operating in the region, holding a market share of 24.5%. Among South Carolina-based banking operations, South State holds the most market share in the Charleston region with 13.3% and $1.5 billion in deposits. South Carolina Federal Credit Union holds $1.4 billion in deposits for more than 150,000 members, making it the largest credit union in the Charleston market with Heritage Trust Federal Credit Union a distant second with $520 million.

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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South Carolina banking performance All insured institutions

Net income in millions of dollars

% of unprofitable institutions

$300M

8.3% in 2015

$225M

46.9% in 2010

$150M

Total assets in billions of dollars

2010 - $111M

0

38

$263M

$170M

$148M

$2M

$75M

$149M

$40B

$35B

$30B

25.2% decrease since 2014

2011 2012 2013 2014 2015

FINANCIAL SERVICES | www.charlestonbusiness.com

$25B

2010

2011

2012

2013

2014

2015

Source: Federal Deposit Insurance Corp.

Deposit market share report

% market share

Total deposits

Berkeley, Charleston and Dorchester counties

3.0%

6.1%

5.5%

$698M 24.5%

14.2%

$2.8B

Wells Fargo Bank, National Association

33

$1.6B

Bank of America, National Association

Number of institutions in the market

13.3%

6.7%

$1.5B

South State Bank

$764M

First Synovus Citizens Bank Bank and Trust Company Inc.

204

Number of offices inside of market

$342M

$629M 5.7%

$656M

17.5%

$1.9B

3.21%

$366M

SunTrust Branch CresCom Bank Bank Banking SouthCoast and Trust Community Company Bank

Other 24 institutions in the market

$11.3 billion Total deposits inside of market

Source: FDIC Annual Deposit Market Share Report

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39

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

MEMBERS

$1,424,868,878 $1,200,000,000

150,086

$1,00,000,000

$800,000,000 $520,540,950 $600,000,000

44,364 $277,417,334

54,371

$400,000,000

$200,000,000

$50,691,433

$49,531,379

7,232

7,974

$10,744,674

2,588

$2,058,977

418

South Carolina Federal Credit Union

Heritage Trust Federal Credit Union

CPM Federal Credit Union

Latitude 32 Federal Credit Union

Santee Cooper Credit Union

Berkeley CommunityCredit Union

C O Federal Credit Union

Charleston County Teachers Federal Credit Union

$1,548,547

937

Source: National Credit Union Association 2015 Quarter 1 reports

Retirement income in S.C. To live comfortably in retirement, most experts say retirement income should equal at least 70% of income before retiring. South Carolina is one of just three state where median retirement income meets this standard, according to BankRate.com. The Palmetto State has a average annual wage of $40,580 for all age groups, behind the two other states, Alaska ($55,760) and Hawaii ($47,740). Among the reasons for S.C.’s rosy picture might be a legacy of pensions from once-prevalent manufacturing jobs, transplants from other states, a large number of military retirees and lower cost of living.

State

Median household income, ages 45-64

Median household income, 65 and older

Income replaced in retirement

Hawaii

$80,106

$58,150

72.59%

Alaska

$81,990

$58,311

71.12%

South Carolina

$52,289

$36,694

70.18%

Florida

$55,546

$38,425

69.18%

Tennessee

$51,784

$34,224

66.09%

North Carolina

$55,226

$36,252

65.64%

Alabama

$51,117

$33,375

65.29%

Georgia

$59,349

$36,859

62.11% Source: Bankrate.com

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Demographics and Economic Development The Charleston region leads the state of South Carolina in total dollar investment in the past year, with two large-scale automotive projects, Mercedes-Benz Vans and Volvo Cars, representing the bulk of that investment. Other companies also contribute year-over-year to the economic development and growth of the region. With 10.5% of the region’s jobs coming from advanced industries such as automotive and aerospace manufacturing and technical and scientific consulting, the Charleston area leads the state.

FAST FACTS

727,689

24.6

Total number of people living in the

Average commute time for the Charleston

Charleston metropolitan area.

region, the highest in South Carolina.

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SPONSORED CONTENT

Average wage comparison, 2014 U.S.

$51,364

84.5% of U.S.

81.1% of U.S.

81.4% of U.S.

79.4% of U.S.

Average wages throughout S.C. still lag behind the U.S. average

Charleston

$43,387

Columbia

$41,645

Greenville

$41,825

S.C.

$40,797

Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages

Where can you make the most money in South Carolina?

Considering the cost of living to be generally higher along coastal communities of the United States, data show the average weekly wages for counties in South Carolina’s mostpopulous areas.

County

Average weekly wage

Fairfield $1,091 Berkeley $888 Charleston $837 Greenville $835 Richland $835 Calhoun $741 Lexington $737 Laurens $726 Pickens $708 Anderson $705 Kershaw $687 Dorchester $666

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Source: U.S. Bureau of Labor Statistics

Charleston vs. Columbia Charleston is quickly catching up to South Carolina’s capital city in population. U.S. Census figures in 2013 have just under 2,000 people separating the two. Meanwhile, Charleston’s average wage surpassed Columbia’s in 2013.

Charleston

Average wage comparison

Columbia

Population growth

$44,000

133,000

132,067

$43,387 $43,250

129,750

$41,944 $41,273

$41,000

$39,500

$38,750

$38,000

$39,661

127,791 126,500

125,560

124,875

$39,852

123,250

$38,900

2010

130,113

In 2013, there was a 9,694 gap between the two cities populations. In 2014, that gap had fallen to just 1,954.

$41,645

$40,558

$40,250

130,371

128,125

$41,034

$40,685

131,912

131,214

$42,500

$41,750

131,869

131,375

Charleston passed Columbia in average wages in 2013.

123,144

122,625

2011

2012

2013

2014

Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages

120,000

120,677 2010

2011

2012

2013

2014

Source: U.S. Census Bureau

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2014 Charleston-area population

Median age: 35.6 Per capita personal income: $34,810

By county and major city NOTABLE NUMBERS

198,205

148,469

Berkeley County

Dorchester County

727,689 total regional population

52.4%

of the population in the Tricounty

Median age: 36.3 Per capita personal income: $33,199

is in Charleston County

381,015

Median age: 36.8 Per capita personal income: $47,843

Charleston County

Source: Bureau of Economic Analysis, U.S. Census: Annual Estimates of the Resident Population for Selected Age Groups by Sex for the United States, States, Counties and Puerto Rico Commonwealth and Municipios

Retirement moving

Active-duty personnel make military one of S.C.’s largest employers

The National Association of Realtors looked at the reasons and locations retirees move between to understand regional growth and migration patterns in 2014.

South Carolina has 37,647 active-duty military personnel working in the state, making the military one of the Palmetto State’s largest employers, according to the U.S. Office of Personnel Management. That number increases by more than 11,000 when civilian workers are included. Military installations, defense contractors and Veterans Affairs facilities provide a large base of employment, incomes and taxes, as well as a demand for business services across the Charleston region and South Carolina.

Charlotte/Rock Hill

5.6%

Greenville

Columbia

13.6%

12.0%

Augusta/Aiken

13.0%

Active-duty military in South Carolina

Charleston

Data show which branches the active-duty members of the military come from in South Carolina arranged by highest to lowest.

12.1%

*Percentages are retirees compared with overall population.

46

20.9%

6.9%

24.5%

Retirees moving to be close to family or for housing concerns, such as downsizing.

Retirees who cited retirement as reason for moving. Other reasons include wanting new health care, starting a new job or looking for a safer neighborhood, less expensive housing or nicer place to live.

Percentage of retirees in the nation who live in the Miami area. The largest share of movers who are retirees, 12.6%, also went to the Miami area.

Source: National Association of Realtors, 2014

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Branch

Active-duty members

Army

10,908

Marines

10,819

Air Force

8,537

Navy

6,732

Coast Guard

651

= 1,000 Active-duty members Source: Defense Manpower Data Center, U.S. Office of Personnel Management, Governing magazine

Commuting to work – 2014 American Community Survey

Berkeley

Charleston

Dorchester

South Carolina

Car, truck or van - drove alone

70,367

138,265

54,512

1,672,070

Car, truck or van - carpooled

7,499

15,038

6,257

188,542

Public transportation (excluding taxicab)

655

3,848

303

12,322

Bicycle

135

2,559

168

NA

Walked

2,703

5,812

691

42,556

Other means

891

1,844

531

33,523

2,429

9,102

2,550

73,006

Worked at home

Source: U.S. Census Bureau, 2010-2014 American Community Survey 5-Year Estimates.

Average travel time to work in minutes, 2014

23.6

25.7

Charlotte

Columbia

24.9

Raleigh

30.4

Atlanta

23.2

24.6

Richmond, Va.

Knoxville, Tenn.

23.4

Savannah

22.5

Greenville, SC

25.7

U.S. Average

24.6

Charleston

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47

Charleston leads state in economic development

The Charleston region accounted for the two largest economic development announcements in South Carolina in 2015, both in automotive manufacturing. The two projects account for an additional 3,800 jobs coming to the region.

Advanced jobs and economic development

The Charleston region has seen a surge in advanced manufacturing jobs and other industries that require a highly skilled workforce.

Metro Number of jobs % of all jobs in S.C. Greenville-Anderson 41,633 10.2% Charleston-N. Charleston 36,572 10.5%* Columbia 24,560 6.1% *Among jobs in the Charleston region 10.5% involve advanced industries and skills, which ranks in the top 20 among 100 metropolitan areas across the U.S. Photo/Liz Segrist

Top 10 economic development projects of 2015 Project

County

Investment

Jobs added

Volvo Car Group

Berkeley

$500M

2,500

Mercedes-Benz Vans

Charleston

$500M

1,300

Kronotex USA

Barnwell

$230M

105

Schaeffler Group USA

Chesterfield/York/Spartanburg

$166.8M

443

Orchids Paper Products

Barnwell

$110M

134

Dollar Tree

Cherokee/Spartanburg

$104.4M

400

Carolina Poly Inc.

Chester

$100M

300

Mitsubishi Polyester Film

Greenville

$100M

--

Red Ventures

Lancaster

$90M

1,500

Rite Aid

Spartanburg

$90M

600

What jobs are considered advanced industries in Charleston?

Industry sector Number workers Architecture, engineering 5,860 Computer systems design 5,583 Aerospace manufacturing 5,356 Motor vehicle manufacturing 2,949 Technical, scientific consulting 2,831

Economic impact of advanced industries

In the three largest metro areas of South Carolina, advanced industries have a nearly $14 billion economic impact.

Metro Value Greenville-Anderson Charleston-N. Charleston Columbia $2.2 billion

Source: Brookings Institution

Source: S.C. Commerce Department

Fastest growing job sectors The percentage increase in occupations in Charleston from 2014 to 2015.

$6.2 billion $5.3 billion

Charleston Digital Corridor companies

at a glance

80,500,000 Legal Occupations

10.2%

Computer and Mathematical

Farming, Fishing, and Forestry

9.3%

Capital Raised in 2015

by Corridor Member Companies

9.1%

$69,580

Management Occupations

8.0%

Building, Grounds Cleaning and Maintenance

7.7%

Personal Care and Service

7.4%

Source: U.S. Bureau of Labor Statistics

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Average salary for Digital Corridor members

637 Attended one or more CODECamp Classes

Source: Charleston Digital Corridor, 2015 Annual Report

– 2007 GDP

– Percentage change from 2007-2014

– 2014 GDP

38.5%

19.2%

60

Gross Domestic Product increase from 2007-2014

55 50 45

24.3%

31.7%

19.8%

35 30 25

23.5%

22.6%

20

$29.4B $36.5B

$30.3B $36.4B

$13.0B $15.9B

0

$59.2B $70.5B

5

$51.7B $71.6B

10

$26.1B $34.4B

15

$13.3B $16.4B

GDP in Billions of Dollars

40

Asheville, NC

Charleston

Raleigh, NC

Richmond, VA

Greenville

Columbia

Savannah

Source: U.S. Department of Commerce Bureau of Economic Analysis

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Unemployment Rates of South Carolina

How underemployed are South Carolinians?

In 2015, 11.4% of S.C. residents were underutilized or underemployed, according to the U.S. Bureau of Labor Statistics. Underutilized labor includes unemployed workers, employees

10% –

who work part time for economic reasons and those “marginally attached” to the labor force.

9% –

Marginally attached individuals want to work and have looked for a job during the past year.

8% –

Underutilized: 9.8% Unemployed: 4.5%

7% – 6% –

Underutilized: 10.7% Unemployed: 5.7%

5% – 4% – 3% –

VA NC

TN

2% – 1% – 2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Unemployment Rates as of January 2016 LOWEST IN THE STATE

4.5% Charleston County

5.1% Berkeley County

5.1% Dorchester County

Source: South Carolina Department of Employment and Workforce

Underutilized: 11.2% Unemployed: 5.3%

AL

Underutilized: 11.1% Unemployed: 5.8%

GA

SC

Underutilized: 11.3% Unemployed: 5.9%

Underutilized: 11.4% Unemployed: 5.9%

FL

Underutilized: 11.5% Unemployed: 5.4%

Numbers behind the percentages 134,500 residents

Number of unemployed S.C. residents in 2015

33,500 people

96,000 workers

Number who were “marginally Number employed part time attached” to the workforce, for economic reasons, known meaning they want a job but haven’t as involuntary part time found one in the past year. Data show 12,500 of these workers having given up looking for work altogether.

Source: U.S. Bureau of Labor Statistics

Social Security Benefits in South Carolina What do lawmakers and fast-food In South Carolina there are 1,040,971 Social Security beneficiaries, including:

683,006

Retired Workers

179,872

Disabled Workers

68,220

Widow(er)s

29,216 Spouses

80,657 Children

$15 Billion in Social Security benefits added to South Carolina’s economy each year

50

workers have in common?

They’re both among the lowest-paid occupations in South Carolina, and many probably have second jobs to help make ends meet. Data found from the U.S. Bureau of Labor Statistics based on a wage survey conducted in 2014 show the top-paying jobs starting with the highest.

Top-paying jobs in S.C. Under $250,000 Job Average annual pay 1. Anesthesiologist.......................$227,540 2. Surgeon.....................................$224,510 3. OB/Gyn..................................... $210,820 4. Internist...................................$205,970 5. Physician..................................$185,040

Under $100,000 Job Average annual pay 1. Distribution mgr........................ $96,660 2. HR manager...............................$95,450 3. Operations mgr.........................$94,940 4. Engineer.....................................$94,440 5. Purchasing mgr........................ $94,200

Under $50,000 Job Average annual pay

1. Legal support............................ $49,860 2. Electrical installer.....................$49,830 3. Rolling machine setter.............. $49,810 4. Aircraft mechanic..................... $49,740 Source: The National Committee to Preserve Social Security & Medicare 5. Postal clerk............................... $49,580

DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com

Under $25,000 Job Average annual pay 1. Barber.........................................$24,980 2. Ag equipment operator............ $24,870 3. Artists, illustrators....................$24,840 4. Assembler.................................$24,680 5. Production worker................. $24,640*

The 5 lowest-paying jobs in S.C. Job Average annual pay 1. Shampooer................................. $16,980 2. Fast-food cook............................ $17,400 3. Usher, ticket-taker......................$17,510 4. Food preparation....................... $17,690 5. Legislators..................................$17,880

Source: U.S. Bureau of Labor Statistics, May 2014 *Tied with foundry mold and coremaker workers

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 Metro Chamber of Commerce and the Charleston Regional Development Alliance.

Read the report online: charlestonchamber.net/economicscorecard or crda.org/economicscorecard Look for the 2016 Regional Economic Scorecard this November.

The Charleston region’s comparative communities reflect the profound economic evolution we have experienced.

Charleston’s position as a global competitor ranks alongside metros throughout the country with similar economic assets. Charleston MSA population is currently 727,700 and is projected to be 1 million by 2025.

AUSTIN

High tech, telecommunications, business services, tourism, biomedical research and education.

Produces the most science and engineering higher education degrees.

MSA population is 1.9 million.

GREENVILLE

Strong manufacturing sector, biotechnology and tech innovation, warehousing and distribution, healthcare, higher education, communication technology and entrepreneurism.

MSA population is 862,000.

INDEX RANKINGS

JACKSONVILLE

Transportation manufacturing and distribution hub. Major industries: international trade, construction equipment, paper mills, and military.

MSA population is 1.4 million.

INDEX RANKINGS

NASHVILLE

Economically diverse. Major industries: finance, music and entertainment, healthcare and biotechnology, plastics, publishing, technology, tourism, and transportation technology.

MSA population is 1.7 million.

INDEX RANKINGS

INDEX RANKINGS

Human Capital............................................................ 1st Innovative Activity...................................................... 1st Entrepreneurial Environment.................................. 3rd Quality of Place........................................................... 9th Advanced Industries ranking..............................11th

Human Capital............................................................ 9th Innovative Activity...................................................... 5th Entrepreneurial Environment.................................. 9th Quality of Place........................................................... 8th Advanced Industries ranking..............................29th

Human Capital............................................................ 8th Innovative Activity...................................................... 9th Entrepreneurial Environment.................................. 7th Quality of Place........................................................... 6th Advanced Industries ranking..............................77th

Human Capital............................................................ 7th Innovative Activity...................................................... 6th Entrepreneurial Environment.................................. 2nd Quality of Place........................................................... 7th Advanced Industries ranking..............................54th

RALEIGH

RICHMOND

SALT LAKE CITY

SEATTLE

High tech, healthcare, higher education, research & development, government agencies, engineering, transportation and distribution, specialized manufacturing, and pharmaceuticals.

MSA population is 1.2 million.

Manufacturing, IT, semiconductor manufacturing, biotechnology, research & development, finance & insurance, distribution, government agencies, and healthcare.

MSA population is 1.2 million.

Government, commercial and industrial center for Intermountain West region. Major industries: industrial banking, finance & insurance, government, tourism, technology innovation, and healthcare.

MSA population is 1.1 million.

Aerospace and transportation manufacturing, advanced technology including: biotechnology, health and life sciences, the Port and transportation logistics, international trade, tourism, and entrepreneurial ventures.

MSA population is 3.6 million.

INDEX RANKINGS

INDEX RANKINGS

INDEX RANKINGS

INDEX RANKINGS

Human Capital............................................................ 2nd Innovative Activity...................................................... 2nd Entrepreneurial Environment.................................. 1st Quality of Place........................................................... 4th Advanced Industries ranking..............................13th

Human Capital............................................................ 6th Innovative Activity...................................................... 8th Entrepreneurial Environment.................................. 8th Quality of Place........................................................... 1st Advanced Industries ranking..............................81st

Human Capital............................................................ 4th Innovative Activity...................................................... 4th Entrepreneurial Environment.................................. 6th Quality of Place........................................................... 2nd Advanced Industries ranking..............................15th

Human Capital............................................................ 2nd Innovative Activity...................................................... 2nd Entrepreneurial Environment.................................. 5th Quality of Place........................................................... 5th Advanced Industries ranking..............................2nd

HUMAN CAPITAL INDEX

INNOVATIVE ACTIVITY INDEX

Educated residents with specialized skills and knowledge fuel existing businesses’ growth and attract new employers in our target industries.

An innovative environment provides growth opportunities for existing businesses and talent, and attracts leading-edge entrepreneurs and investors from outside the region.

The Trend

The Trend

• Knowledge workers are up 36%, a higher growth rate than all other metros, and triple the U.S.

• Since 2005, we have continued to lose ground on this index, while Greenville and Raleigh have progressed

• Charleston’s growth in college and high school graduates is primarily due to educated workers in-migration; existing residents have lower education attainment levels

A

CH

162

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D

E, TTL SEA LEIGH RA TIN AUS

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125

DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com

0

ILLE

100 = United States Average

173

22

111

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100 = United States Average

RIC

116 115

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75

49

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10310 4 10 6

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94

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99

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

SALT LAKE

1 CHAR 05

• Access to VC funding has improved, but not as substantially as the U.S. and other metros • Patents have increased 50% since 2005, but still remain low in comparison

• Added new indicator measuring the growing population of young professionals; Charleston ranks 6th

52

CHARLESTON INDEX RANKINGS

Human Capital............................. 5th Entrepreneurial Environment..... 4th Innovative Activity........................7th Quality of Place............................ 3rd Brookings’ Advanced Industries ranking: 18th

200

QUALITY OF PLACE INDEX

ENTREPRENEURIAL ENVIRONMENT INDEX An unsupportive entrepreneurial climate can cause successful startups to seek more hospitable communities. Small business growth depends on the continued growth of advanced industries.

Highly skilled workers have more flexibility in where they choose to live and work.

Lifestyle matters most. Affordable housing options near job centers and multimodal transit solutions are critical to the region’s sustained economic prosperity.

The Trend

The Trend

• Charleston offers a solid entrepreneurial environment, but is not growing as many businesses as other metros

• 10 point improvement from 2005 to 2013

• Progress is primarily due to a strong increase in business services • Increase in proprietors’ income illustrates that locally-owned businesses are making more money

104

CHAR

• Primarily due to increase in cultural and recreational opportunities, healthcare access, and the continued decrease in the still relatively high crime rate • Challenge areas include travel congestion and housing affordability, the main reasons why Richmond scores off the chart on this index

LESTO

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86

121

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83

111

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112

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E ILL NV

GRE

75

SO

HM

108 109

91 87 E GRE

CK JA

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SALT LAKE CITY

88

N

102 SEATTLE

99

KE

T LA SAL

ILL

E

100 = United States Average

125 50

100 = United States Average

CIT

Y

150

www.charlestonbusiness.com | DEMOGRAPHICS AND ECONOMIC DEVELOPMENT

53

Education South Carolina’s technical college system contributes to the Charleston region’s development of a highly skilled workforce with several companies across the state depending on partnerships with schools like Trident Technical College. Education data show that technical schools also help four-year colleges like Charleston Southern University, The Citadel and the College of Charleston, with 58% of students attending college first having attended a technical school to jump start their educational career.

FAST FACTS

$242,594,000

25.5%

Money spent on R&D at Medical University

In Charleston County, 25.5% of residents

of S.C. in 2014, the highest in the state.

have at least a bachelor’s degree.

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EDUCATION | www.charlestonbusiness.com

Trident Technical College course length and success Students attending classes with a shorter course length had a higher success rate.

American Community Survey, Educational Attainment 25 years and older Charleston County has the highest percentages of residents with bachelor’s and graduate degrees.

Bachelor’s Degree

14-week course:

25.5%

64% 9-week course:

70%

Bachelor’s Degree

Graduate or Professional Degree

14%

14.5%

7-week course:

80% 4-week course:

82%

Associate’s Degree

9.5%

Graduate or Professional Degree

Associate’s Degree

7.6%

7.6%

Bachelor’s Degree

16.2%

Associate’s Degree

10.5%

Graduate or Professional Degree

8.7%

3-week course:

85% Source: Trident Technical College

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EDUCATION | www.charlestonbusiness.com

Berkeley

Charleston

Dorchester Source: U.S. Census Bureau

Total R&D expenditures at universities and colleges in S.C., 2014 Academic institution

Total R&D expenditures in all fields

Degrees awarded by public research institutions – University of South Carolina

Medical University of South Carolina

$242,594,000

– Clemson University

University of South Carolina

$207,306,000

– Medical University of South Carolina

Clemson University

$161,070,000

Winthrop University

$13,981,000

South Carolina State University

$13,147,000

College of Charleston

$10,034,000

Benedict College

$2,479,000

Coastal Carolina University

$2,166,000

Claflin University

$1,818,000

Furman University

$1,600,000

8,000 7,041

7,161

8,004 7,241

6,000 5,087 4,518

7,470

5,210

5,564

4,732

4,000

Source: National Center for Science and Engineering Statistics 2,000 797

793

877

929

937

0 2010 – 2011

2011 – 2012

2012 – 2013

2013 – 2014

2014 – 2015

Source: S.C. Commission on Higher Education

www.charlestonbusiness.com | EDUCATION

57

The amount of student loan debt compared to salary 10 years after attending Does a higher amount of student loan debt mean a higher salary ?

Below you’ll find the median federal debt of graduates and their salary 10 years after attending college. $75,000

– Median federal debt of graduates

MUSC has the lowest student debt with the highest salary after graduating.

– Salary 10 years after attending

ate . St y S.C ersit iv Un

n ity e flin el on cal sto itut Cla rsity hni rlest rle nivers itad nst on c a C I e h e a e t T C nU h iv Th Ar lest r ITT –N. C Un The Char the e u t o u f S o tit Ins

of sity lina r e o iv Un h Car t u o S

on ms Cle ersity iv Un

$3,000 $73,400

$22,091 $22,800

$22,341 $39,700

$22,389 $49,400

$22,500 $42,100

$24,211 $52,500

$25,834 $38,400

$28,000 $36,100

$29,771 $31,600

$30,000 $27,500

$37,000 $30,400

$25,000

$23,700

$10,500

$50,000

e f ty oun eo leg rsi alh e n leg Col ive lina C . n – h g Col rlesto U g n c sto aro cal bur olle e Te edi uth C Cha ott harle range ical C M M o C O echn th ler of S T Mil – Nor Source: U.S. Department of Education, College Scorecard

Cumulative distribution of net lottery proceeds through FY 2014-2015

BERKELEY

CHARLESTON

DORCHESTER

$21,856,045.90

$43,430,783.68

$20,051,387.01

57,223

103,490

50,032

$77,681,019

$158,924,896.50

$75,618,854.19

$498,531.52

$839,515.68

$407,701.50

K-12

Scholarship awards Scholarship amounts Library totals

K-12

Scholarship awards Scholarship amounts Library totals

K-12

Scholarship awards Scholarship amounts Library totals

Source: S.C. Education Lottery System

58

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 Chair, 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.bcsdschools.net Grades PK-12 Superintendent, Brenda Blackburn Board chair, Jim Hayes No. of Schools.........................................44 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 do.ddtwo.org Grades PK-12 Superintendent, Joseph Pye Board Chair, Lisa Tupper No. of Schools.........................................25 No. of Charter Schools...........................0 State Report Card Absolute Rating 2014.............................................. Excellent 2013.............................................. Excellent

60

School district map

EDUCATION | www.charlestonbusiness.com

75 Calhoun St. Charleston, SC 29401 www.ccsdschools.com Grades PK-12 Superintendent, Gerrita Postlewait Board Chair, Cindy Coats No. of Schools.........................................86 No. of Charter Schools........................... 9 State Report Card Absolute Rating 2014.............................................. Excellent 2013..................................................... Good

Student enrollment, 2014 50,000

Per-pupil expenditure, 2014 $12,500

46,916

$11,062

40,000 30,000

$12,697

$10,000 $8,587

32,569

$7,950

$7,500

25,117

20,000

$5,000

10,000

$2,500 2,243

Berkeley

Charleston

Dorchester 2

Dorchester 4

Average SAT scores, 2015 1,500

$48,000

1422 1,400

$46,000

1,350

$44,000

1,300

1255

Charleston

Dorchester 2

Dorchester 4

$50,000 1448

Berkeley

Charleston

Average teacher salary, 2014

1480

1,450

Berkeley

Dorchester 2

Dorchester 4

$47,217 $46,704

$46,862

Berkeley

Charleston

$46,451

$42,000

Dorchester 2

Dorchester 4

S.C. Department of Education

www.charlestonbusiness.com | EDUCATION

61

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 South Carolina. The impact begins with the Port of Charleston, which saw a mostly flat 0.2% increase in container volume from the previous fiscal year. The S.C. Inland Port in Greer saw a 57% increase in container moves. Germany, China, Britain, Mexico, Canada and Japan provide most of the import and export activity at the Port of Charleston. Germany remains the state’s largest trading partner with a combined $11.38 billion worth of imports and exports.

FAST FACTS

$1,076,200,000

1,097,000

Value of aircraft products and parts

Number of equivalent containers moved

exports from Charleston last year.

by the Port of Charleston last fiscal year.

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IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

South Carolina Ports by the numbers Historical pier container volumes though FY2016 The 1.134 million pier containers that came through in 2005 is the highest in the last 15 years.

Quarterly comparison – FY2015 to FY2016 – FY2015

The port handled 1.097 million pier containers in fiscal year 2016 — from July 2015 to June — up 0.2% from the year prior.

300,000

-6%

– FY2016

decrease

9%

increase

290,000

Pier Containers (in thousands)

1,000

-2%

decrease

280,000 800 270,000

1%

increase

600 260,000 400

250,000

200

240,000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

2011

2012

2013 2014 2015

2016

230,000 Source: South Carolina State Ports Authority

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IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

Ports Authority rooftop solar project

Changes from FY2015 to FY2016 – FY2015

– FY2016 871,914

901,974

-54.6%

Four buildings’ rooftops will

decrease

receive a combined 407,000

square feet of solar panels.

548,933

The panels will cover most or part of the roofs on the warehouses at the Columbus Street Terminal, which include: • 168,000-square-foot building • 108,000-square-foot building • 99,000-square-foot building

249,149

Charleston pier tons

Georgetown pier tons

57.0%

Panels also will cover a 247,000-square-foot building at the Wando Welch Terminal.

increase 91,698

58,407

“K” Line’s 8,500-TEU ship Hannover Bridge called on the Port of Charleston after traversing the newly expanded Panama Canal, before heading for Asia.

(Photo/S.C. State Ports Authority)

1,863

1,894

3.7

Combined megawatts of electricity generated.

S.C. Inland Port moves

Charleston ships docked

$1.5 million

Minimum revenue expected to be generated for the port over 25 years.

Source: S.C. State Ports Authority

www.charlestonbusiness.com | IMPORT, EXPORT AND DISTRIBUTION

65

Foreign investment in S.C.

Touting big names like BMW, Mercedes, Volvo Cars, Adidas, Fuji and many more, South Carolina has become noted for its links to foreign investments.

A recent report from Colliers International – South Carolina highlighted the state’s continued growth in foreign direct investment. Here’s a look at the yearly foreign investment from 2010 to 2015 in South Carolina.

FOREIGN INVESTMENT $4B

JOBS CREATED

$3.7B

10,000

$3.3B

$3B

$2.6B

$2.4B

$2.3B

$2B $1B $0B

9,269

8,000 6,000

6,393 5,889

3,864

4,000

$1.0B

5,892

4,679

2.000

2010

2011

2012

2013

2014

LEADING THE WAY

South Carolina has been ranked high in numerous categories by the Top States for Doing Business 2015 report:

South Carolina ranked

NUMBER 1 in both

cost of doing business and Incentive programs.

NUMBER 2

in incentive programs

NUMBER 3

in workforce development

2015

0

2010

2011

2012

2013

2014

2015

WHO INVESTS THE MOST?

Colliers reports 14 countries have 10 to 15 firms in South Carolina. The survey found more than 127,000 people in South Carolina employed by companies of foreign origin.

These countries sustain the most employees among South Carolina’s workforce:

Country No. of employees

Germany 24,100

France 18,100

Japan 15,100

United Kingdom 11,600 Sources: Colliers International and South Carolina State Ports Authority

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IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

Top 5 countries sending imports to S.C., 2015

Top 5 countries receiving exports from S.C., 2015

$7.47B

+4.4% from 2014

$5.86B

+5.8% from 2014

$4.4B

+4% from 2014

$3.44B

-5.2% from 2014

Germany

China

Mexico

+.9% from 2014

% Highest om change fr 2014

Canada

$3.7B

+1.2% from 2014

$2.80B

-2.5% from 2014

% Highest om change fr 14 20

$3.91B

$2.62B

$2.84B

+52.6% from 2014

Japan

$2.45B

+15.7% from 2014

+8.6% from 2014

China

Germany

Canada

United Kingdom

Mexico Source: U.S. Census

www.charlestonbusiness.com | IMPORT, EXPORT AND DISTRIBUTION

67

Export profile for Charleston MSA Industry

Value, 2014

1. Aircraft Products & Parts 2. Motor Vehicle Parts

$233.9M

3. Paper Products

$197.0M

4. Resins & Synthetic Rubbers

$193.4M

5. Nonferrous Metal Products

$129.7M

6. Basic Chemicals

$122.0M

7. Engine & Power Equipment

$116.4M

8. Freight & Port Services

$114.3M

9. Motor Vehicles

$112.5M

10. Motor Vehicle Body & Trailers

$109.8M

11. Misc. Electrical Equipment

$94.4M

12. Aluminum Products

$91.4M

13. Management & Consulting

$85.3M

$4.043 billion Total value of exports, 2014 Ranked 79Th of 381

12.8%

Exports as a share of metro GDP, 2014 Ranked 118Th of 381

24,119

Total export-supported jobs, 2014

14. Ground Transportation Services

$69.8M

15. Medical Equipment & Supplies

$61.4M

16. Misc. Transportation Equipment

$59.6M

17. Information Technology Royalties

$52.8M

18. Accommodation Services

$51.5M

of the total export value of the

19. Agri., Constr., Mining Machinery

$46.2M

Charleston MSA. From 2003 – 2014,

20. Equipment Installation Services

$45.9M

the value of the industry grew 53.1%

The export of aircraft

Ranked 77Th of 381

products & parts accounted for

26.6% +6.6%

Growth In Value Of Exports, 2008–2014 Ranked 25Th of 381 Source: Brookings Institute Export Monitor

Trucking industry keeps S.C. moving

S.C.’s interstate highway system

88,370

The nation’s interstate highway system turned 60 years old in 2016, representing a decades-long journey over multiple centuries. The 46,876 miles of interstate highway includes more than 850 miles through many of

Number of jobs supported by the trucking industry across South Carolina.

8,230

Number of trucking

Average wage provided by the trucking industry in

South Carolina, many

South Carolina in 2013,

of them small, locally

which is $3,454 more than the average wage of all jobs. Drivers averaged $35,550 a year.

Percentage of commercial transportation in S.C. Most finished goods and manufacturing supply chains depend on truck traffic for deliveries.

Here’s a breakdown of how manufacturing tonnage gets delivered in the Palmetto State.

Intermodal 1%

Truck

84%

South Carolina’s 46 counties.

$44,034

companies operating in

owned companies.

68

$1,076.2M

Water 2% Rail 13% Source: S.C. Trucking Association, U.S. Bureau of Labor Statistics

IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

Southeastern states connect through interstate highways

State Miles of interstate

Tennessee 1,940.34 Florida 1,497.58 North Carolina

Georgia

Virginia

Alabama

1,263.13 1,243.98 1,117.23 998.77

Louisiana 933.84 South Carolina

Mississippi

Arkansas

850.8 805.54 700.33 Sources: Federal Highway Administration, Interstate Guide

Hospitality and Tourism The multimillion-dollar tourism industry in the Charleston area serves as a crossroads between several economic sectors and businesses. Weddings, for example, fuel sales of room nights at hotels, tickets for attractions, food and beverage, air travel and car rentals, among others. In 2015 alone, the wedding industry brought $180 million to the Charleston area with the region hosting more than 6,200 weddings. Around 135 guests came to the area for each of those events. Visitors coming to the region spent an average of $869 per trip with a majority of that amount going to accommodations and dining.

FAST FACTS

70

$3,680,000,000

3,420,000

Total economic impact of tourism on the

Number of passengers traveling through

Charleston region in 2015.

Charleston International Airport in 2015.

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HOSPITALITY AND TOURISM | www.charlestonbusiness.com

2015 tourism statistics $3.68 billion

5.15 million

Total economic impact

Total visitors

AVERAGE EXPENDITURES IN CHARLESTON, PER TRIP

Accommodations

$412

Dining/Food

$161

Local Transportation

$53

HOTELS

Tours/Attractions

$72

18,366

74%

$65

56%

$557 Occupancy rate in Charleston County

$124

Other Expenses

AVERAGE TOTAL EXPENDITURE PER ADULT PER TRIP

The amount an adult spends has increased in five years

Total rooms in the Tri-county

Shopping

$661

$735

$790

$869

Average Room rate in Charleston County

$144

2011

2012

2013

2014

2015

Source: College of Charleston Office of Tourism Analysis

72

HOSPITALITY AND TOURISM | www.charlestonbusiness.com

Charleston International Airport growth Passenger Growth

Since 2010, the number of passengers flying in and out of Charleston International Airport has jumped 69% to more than 3.42 million.

3.5M

3.42M

3.13M

3M

2.92M

2.5M

2.52M

2.33M 2.28M

2.59M

2.19M

2.14M

2M

2.02M 1.83M

1.5M

Charleston International Airport is nearing completion of a $200 million expansion and makeover. The project added about 100,000 square feet to the airport.

Here are some other project highlights: • Paving and upgrading 543,000 square feet of space for aircraft parking • Building a 6,200-square-foot rental car pavilion • Creating a 19,300-square-foot consolidated security checkpoint • Renovating gates and adding five new ones for an airport total of 15 gates

1.88M

Airport rental car activity, 2015:

$59,540,797.79

1.61M 2003 2004 2005 2006

2007

2008 2009

2010

2011

2012

2013

2014

2015

Combined total on-airport and off-airport receipts of rental car companies Source: Charleston County Airport Authority

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73

Golf’s ripple effect

South Carolina’s solid reputation as a golf destination typically overflows into other sectors, including the following things visitors do when they come for a stroll on the greens:

54% 41%

19%

18%

16%

15%

13%

12%

Golf by the numbers

74

27% Percentage of golf visitors who bring along children.

HOSPITALITY AND TOURISM | www.charlestonbusiness.com

Condos, rental homes

Private home/ second home

Hotel/B&B

# of trips: 1.4 million

# of trips: 1.3 million

# of trips: 628,000

10%

Beach visits Fine dining Shopping Visit family Visit friends Biking Sightseeing Historic sites Museums Old mansions

Average amount spent per party, per trip, with 90% of those trips including overnight stays.

When visiting South Carolina for golfing trips, only 69,000 visitors stayed in tents and recreational vehicles, but most accommodations for golfing parties fell into three categories.

Accommodations:

35%

$1,560

Where do golfers stay?

$402

4.9

Average spending during golf visits that are day trips without overnight stays.

10% of golfing visits to South Carolina are such trips.

Average number of nights a golfing party stays when visiting South Carolina.

Source: S.C. Department of Parks, Recreation and Tourism

Charleston’s wedding economy 2015 weddings in the Charleston metro area

$28,793 Average wedding cost

$154

6,247

Number of weddings

The Charleston metro area is ranked No. 130 out of 977 areas in popularity for weddings, according to The Wedding Report Inc.

$180 million Amount spent

131-141

Average number of guests

$209

$1,263

Average spent on bride’s dress

$3,637

Average spent on bridal bouquet

Average spent on tuxedo rental

Average spent on event location

$4,783

$423

$1,640

Average spent on event food service

Average spent on wedding cake

Average spent on wedding photographer Source: The Wedding Report Inc., 2016

www.charlestonbusiness.com | HOSPITALITY AND TOURISM

75

2015 South Carolina craft beer statistics

36

Number of breweries per year 40

No. of craft breweries in S.C. = 1 Brewery per 100,000 21+ adults (ranks 41st)

35

$443 million

30 25

Economic impact, 2014 (ranked 29th)

20

80,155 barrels

15 10

Craft beer produced per year (ranks 49th)

0.7 Gallons per 21+ adult (ranks 41st)

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5 0

2011

2012

2013

2014

2015

Source: Brewers Association

Charleston Wine + Food Festival Cruise ships at Charleston S.C. Ports Authority served 189,050 2015 statistics

$9.3 million 105 events

cruise passengers in FY 2015 200

overall economic impact on Charleston area

23,500 $964

guests over the 5 days

average total spending per out-of-town guest

31%

percentage of guests living more than 50 miles away

49

average attendee age

Source: Charlestonwineandfood.com

195 Total annual cruise passengers (in 100,000)

including 105 Culinary Village chef demos; 240 chefs; 80 beverage professionals

FY 2015

190 185 180 175 170 165 160 155 150 FY 2011

FY 2012

FY 2013

FY 2014

FY 2015

Source: S.C. Ports Authority, 2015 Annual Report

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The accolades of the Holy City The Charleston area keeps racking up recognition in many areas. Here are a few examples:

No. 1

No. 1

World’s Best City

Small U.S. City

–Travel & Leisure, 2016

– Conde Nast Traveler, Readers’ Choice Awards, 2015

No. 1

Best City in North America

No. 19

Best Place to Live – U.S. News & World Report

– Travel & Leisure, 2015

Photo/Ashley Heffernan

Open for Business, and a wedding or two. /RFDWHG LQ KLVWRULF 0RXQW 3OHDVDQW $OKDPEUD +DOO LV WKH SHUIHFW VHWWLQJ IRU \RXU QH[W EXVLQHVV PHHWLQJ RU FRQIHUHQFH 'LVFXVV \RXU VWUDWHJLF SODQ RQ WKH ZUDSDURXQG SRUFK SUHVHQW \RXU ODWHVW 3RZHU3RLQW LQ WKH IDPRXV EDOOURRP DQG VLS DIWHU ZRUN GULQNV ZKLOH ZDWFKLQJ WKH VXQVHW RYHU WKH &KDUOHVWRQ +DUERU 0DNH \RXU QH[W FRUSRUDWH HYHQW H[WUDRUGLQDU\ %RRN $OKDPEUD +DOO WRGD\ 0 (SOHTIYH/HSS'[VTWZJ JVT

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No. 2

Best Business Climate – Site Selection Magazine, 2016

NATIONAL PARK VISITORS IN S.C., 2015

1.5 million

people visited S.C.’s six national parks

1,300

jobs are supported by the national park visitors

$82.9 million money spent

Charles Pinckney National Historic Site Total visits: 46,995 Total jobs supported: 43 Visitor spending: $2,691,000 Total economic output: $3,374,700

Fort Sumter National Monument Total visits: 840,712 Total jobs supported: 734 Visitor spending: $48,140,000 Total economic output: $60,506,000

Congaree National Park Total visits: 87,513 Total jobs supported: 61 Visitor spending: $4,370,000 Total economic output: $5,081,200

Kings Mountain National Military Park Total visits: 257,078 Total jobs supported: 162 Visitor spending: $10,070,000 Total economic output: $13,413,000

Cowpens National Battlefield Total visits: 206,741 Total jobs supported: 209 Visitor spending: $13,037,000 Total economic output: $17,680,400

Ninety Six National Historic Site Total visits: 80,223 Total jobs supported: 73 Visitor spending: $4,593,000 Total economic output: $5,854,200

$105.9 million

economic output of the national parks

Source: National Park Service

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Medical and Health Care Businesses in South Carolina pay the 11th-highest employee premiums for individual health care plans in the U.S. at an average of $1,332 and 40th highest for family plans at $4,110. Employers in South Carolina also pay below the annual national average for both individuals and families. The Charleston region has several large hospital systems, including the Medical University of South Carolina, Trident Health, Roper St. Francis, East Cooper Medical Center and the Ralph H. Johnson VA Medical Center. Many private practices and specialists surround and partner with these health care systems.

FAST FACTS

$5,560,000,000

85.1%

Total Medicaid spending in South Carolina

Percentage of black residents with health

last year, down slightly from 2014.

insurance in the Charleston area.

PAGE 84

PAGE 84

SECTION SPONSOR

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South Carolina’s health care rankings Select national ranking of South Carolina’s health in 2015 – No. 1 is best; 50 is worst.

No. 42

South Carolina’s overall health ranking

No. 38

203.2 cancer deaths per 100,000 residents

No. 20

49.8 preventable hospitalizations per 100,000 Medicare hospitalizations

No. 37

271.8 cardiovascular deaths per 100,000 residents

No. 11

15.5% of adults binge drink

No. 41

32.7% of adults are obese

No. 30

$62.10 in public money spent per person on health care

No. 43

12% of adults have diabetes

No. 47

42.6% of adults have high cholesterol

No. 42

7.2 infant deaths per 1,000 live births

IMPROVEMENT

In 2014, South Carolina was ranked No. 47 in the country because of having a higher percentage of adults with diabetes.

Source: americashealthrankings.org

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Who got the flu?

Influenza can shut down a business if employees and customers contract the virus. With December-February being the peak of flu season, the U.S. Centers for Disease Control reported only sporadic infections across South Carolina in 2015-2016.

Flu infection in South Carolina 50%

Midlands

43% 33%

Lowcountry

Upstate

Pee Dee

28% 9% 15% 8% 14% 10%

2014-2015

20%

30%

40%

50%

2015-2016

Source: S.C. Department of Health and Environmental Control

Site shows health care costs A new S.C. Hospital Association website lets consumers and businesses compare costs for many medical procedures and figure what you can expect for an average stay.

Association Chairman Bill Manson, who is also the CEO of Anderson-based AnMed Health, said hospitals participated in the SC Price Point website voluntarily, and it includes most hospitals statewide. However, Trident Medical Center and Summerville Medical Center do not appear in the database, and not every hospital performs every procedure or treatment available.

The hospital association noted that hospital charges often differ from what most patients and insurers pay and are comparable to a “suggested retail price� of an item.

Procedure costs among Charleston-area hospitals

Using the SC Price Point site, we compared the average costs for some of the most common reasons for hospitalization in S.C. for all categories of payers, though more categories of data are available online.

Procedure Newborn admission

Bon Secours St. Francis

East Cooper Medical Center

MUSC Medical Center

$3,226

$4,962

$3,428

Blood infection

$40,817

$62,483

$61,672

Heart failure

$29,375

$29,678

$27,878

Pneumonia

$30,781

$34,767

$22,947

Pulmonary disease

$21,485

$31,026

$21,757

Irregular heartbeat

$23,537

$23,185

$16,838

Renal failure

$25,367

$36,836

$31,767

Source: SC Price Point website, scpricepoint.org

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BUYING THE AFFORDABLE CARE ACT South Carolina figures 2016 Enrollment Period

231,849

54%

TOTAL MARKETPLACE USERS

82%

46%

RE-ENROLLEES

NEW CUSTOMERS

OF THE ELIGIBLE PEOPLE ENROLLED 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 2014

Employee contribution

2015

Employer contribution

$476 BILLION $476 BILLION

Total $16,655

Total $16,044 $12,137

$11,934

South Carolina 2014

2015

$4,110

$5.56 BILLION $5.55 BILLION

$4,518

South Carolina

United States

Source: Henry J. Kaiser Family Foundation

Source: Kaiser Family Foundation

PERCENT COVERED BY HEALTH INSURANCE

Male

90%

86%

80%

85.3%

87.5%

South Carolina

87.9%

84.6%

86.2%

88.5%

Charleston

89%

85.1%

Columbia

Female 89%

89.1%

Caucasian 87.1%

86%

Black 87.5%

87.4%

84.8%

Greenville

Source: American Community Survey

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Health insurance costs for workers, employers S.C. workers pay the 11th-highest employee premiums for individual health care plans in the U.S. at an average of $1,332 and 40th highest for family plans at $4,110. Employers in South Carolina pay below the annual national average of $4,598 for individual and $12,137 for family plans.

Business costs for health insurance

Individual Plan

Average employer contributions to annual health care premiums in selected states. $15,500

Family Plan

Health care exchange enrollment

$15,484 $11,934

The Affordable Care Act made health care available through a marketplace for certain individuals and families that did not have access to employer plans or who did not make enough money.

$11,761

$11,563

$10,746

$10,700 $10,500

State

Eligible

% enrolled

Alabama

208,280

83.88%

1.75 million

89.15%

590,009

86.75%

110,141

85.34%

North Carolina

616,533

89.81%

South Carolina

227,417

85.74%

Tennessee

281,775

82.56%

Virginia

428,139

89.72%

Florida Georgia

$5,813 $5,500

$4,442

$4,442

$4,373

Mississippi

$4,367 $3,901

Alaska

South Carolina

North Carolina

Florida

Georgia

Tennessee

Source: Kaiser Family Foundation *Alaska employers contribute the most in the U.S. for both individual and family plans.

Source: Kaiser Family Foundation data from November-December 2015

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Business Resources and Government A variety of organizations, government agencies and educational institutions provide information for industrial growth, entrepreneurship and doing 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

86

$74,299

41.3%

Average household income for families

Job growth in Berkeley County from

living in the Charleston metro area.

2000-2015, the highest in the area.

CHARLESTON REGIONAL DEVELOPMENT ALLIANCE

CHARLESTON REGIONAL COMPETITIVENESS CENTER

BUSINESS RESOURCES | www.charlestonbusiness.com

CHAMBERS OF COMMERCE Berkeley Chamber of Commerce 1004 U.S. Highway 52 Moncks Corner, SC 29461 843-761-8238 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 North Charleston, SC 29405 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 42 Station Court PO Box 206 Edisto Island, SC 29438 843-869-3867

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www.edistochamber.com Supports our membership by promoting member businesses in our community and to the tourism industry. We represent our member’s voice in our local government while helping our members grow by providing and sharing resources, leads, referrals, and networking opportunities.

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.

BUSINESS RESOURCES AND GOVERNMENT | 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. Provides 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.Â

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 www.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 Corporation 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 Utilizes 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 start-up ventures and assists in the continued growth of small businesses with funding from federal, state and private funds. Counseling services are free, confidential and open to any present or prospective small business owner.Â

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 SC 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 researchbased 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 under-graduate and graduate students in CIECD and Sandhill programs as well as county extension offices and provide 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, nation, 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, its 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

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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-inNorth-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.

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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 1411 Gervais St., Suite 450 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.

BUSINESS RESOURCES AND GOVERNMENT | www.charlestonbusiness.com

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 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.

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 organization 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 Carolina’s

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

Sewee to Santee Economic Foundation Inc. 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 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.

Charleston County Economic Development 4000 Faber Place Drive, Suite 200 North Charleston, SC 29405 843-958-4511 www.charlestoncountydevelopment.com Dedicated to recruiting new businesses, growing existing industry and improving the Charleston business climate.

FINANCIAL ASSISTANCE Business Development Corp. of S.C. 111 Executive Center Drive Enoree Building, Suite 225 Columbia, SC 29210 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.

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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 5 Liberty St. Charleston, SC 29401 843-478-7483 www.chapsc.com Founded in 2004, Charleston Angel Partners is the area’s longest-tenured, most established angel investment group. The top priority of Charleston Angel Partners is to make investing simple and profitable, both for investors and for entrepreneurs. Charleston Angel Partners believes that meaningful economic impact happens when great people support great ideas. Investing in innovation will accelerate Charleston and the Southeast into the future, creating an environment of aspiration and excitement.

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.

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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, Inc. 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 over 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 29201 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.

BUSINESS RESOURCES AND GOVERNMENT | www.charlestonbusiness.com

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 state’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 – Tri-county Chapter P.O. Box 62722 North Charleston, SC 29419 843-819-5129 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.

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 Dulany St. Alexandria, VA 22314 Customer Service: 571-272-1000 www.uspto.gov State Assistance: S.C. Secretary of State 1205 Pendleton St., Suite 525 Columbia, SC 29201 803-734-2170 www.scsos.com

Bar-coding & Universal Product Code (UPC)

Charleston Trident Association of Realtors

Lowcountry Local First

GS1 US Princeton Pike Corporate Center 1009 Lenox Drive, Suite 202 Lawrenceville, NJ 08648 609-620-0200 www.gs1us.org

5006 Wetland Crossing Drive North Charleston, SC 29418 843-760-9400 www.charlestonrealtors.com

1630 Meeting Street Road, Bldg. 2 Charleston, SC 29405 843-801-3390 www.lowcountrylocalfirst.org

Charleston Home Builders Association (CHBA)

Mount Pleasant Business Association

3251 Landmark Drive, Suite 141 Charleston, SC 29418 843-572-1414 www.hbacharleston.com

P.O. Box 1635 Mount Pleasant, SC 29465-1635 www.mountpleasantbusiness.com

Charleston Women in International Trade

1300 12th St., Suite D Cayce, SC 29033 803-791-4181 www.scacpa.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.org

Charleston Defense Contractors Association (CDCA) P.O. Box 61089 Charleston, SC 29419 www.charlestondca.org

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

S.C. Association of CPAs

S.C. Association of Nonprofit Organizations (SCANPO) 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

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S.C. Broadcasters Association 1 Harbison Way, Suite 112 Columbia, SC 29212 803-732-1186 www.scba.net

S.C. Department of Health and Environmental Control 2600 Bull St. Columbia, SC 29201 803-898-3432 www.scdhec.gov

S.C. Department of 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, policies legislative and regulatory issues and supports public and private educational institutions offering curriculums in information and telecommunications technology.

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 (SCATP) 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 (SCAET) 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 (DSIT) 4430 Broad River Road Columbia, SC 29210 803-896-0001 www.admin.sc.gov/technology 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.

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

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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

Carolina’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.

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.

SCRA

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.

315 Sigma Drive Summerville, SC 29486 843-760-3200 www.scra.org Dedicated to stimulating economic growth through science and technology, as well as provides leadership to create innovative solutions through advanced technology that enhances customers’ performance. SCRA was started by the SC Legislature under a public charter to help develop technology-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.

S.C. Technology Alliance

SPAWAR P.O. Box 190022 North Charleston, SC 29419-9022 843-218-4000 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 Navy’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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Legislative Representatives S.C. Governor Nikki R. Haley 1205 Pendelton St. Columbia, SC 29201 803-734-2100 www.governor.sc.gov

STATE SENATE

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

Raymond E. Cleary, III (R)* District 34 - Charleston, Georgetown & Horry Counties 404 Gressette Bldg., Columbia, 29201 Bus. (803) 212-6350

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) * 167 Russell 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 Congressional District – Portions of Beaufort, Berkely, Charleston, Colleton, and Dorchester 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 843-852-7572 James E. “Jim” Clyburn (D)* House Majority Whip 6th District – Portions or all of 15 regional counties 242 Cannon House Office Building Washington, DC 20515 202-225-3315 www.clyburnhouse.gov

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Ronnie A. Stabb (D)* District 32 - Berkeley, Florence, Georgetown, Horry & Williamsburg Co. 504 Gressette Bldg.

Columbia, SC 29201

Lawrence K. “Larry” Grooms (R)* District 37 - Berkeley & Charleston Counties 203 Gressette Bldg., Columbia, 29201 (803) 212-6400 Sean Bennett (R)* District 38 - Berkeley, Charleston & Dorchester Counties 601 Gressette Building Columbia, 29201 803-212-6116 sean@bennettscsenate.com John W. Matthews, Jr. (D) * District 39 - Berkeley, Calhoun, Colleton, Dorchester & Orangeburg Counties 613 Gressette Bldg., Columbia, 29201 803-212-6056 Paul Thurmond (R)* District 41 - Charleston & Dorchester Counties 513 Gressette Bldg., Columbia, 29201 803-212-6172 Marlon E. Kimpson (D)* District 42 - Charleston & Dorchester Counties 506 Gressette Bldg., Columbia, 29201 803- 212-6124 George E. “Chip” Campsen III (R)* District No. 43 – Berkeley, Charleston, & Colleton Counties 305 Gressette Building Columbia, SC 29201 803-212-6016 Campsen@scsenate.org Paul G. Campbell Jr. (R)* District No. 44 – Berkeley, Charleston, & Dorchester Counties 604 Gressette Building Columbia, SC 29201 803-212-6016 PaulCampbell@scsenate.org

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Margie Bright Matthews (D)* District No. 45 – Allendale, Beaufort, Charleston, Colleton, Hampton and Jasper counties 613 Gressette Building Columbia, SC 29201 803-212-6056 CCP@scsenate.org

STATE HOUSE OF REPRESENTATIVES Samuel Rivers, Jr. [R]* District 15 - Berkeley & Charleston Counties 323D Blatt Bldg., Columbia, 29201 803-212-6890 Joseph S. Daning (R)* District No. 92 – Berkeley County 310B Blatt Building Columbia, SC 29201 803-734-2951 JoeDaning@schouse.org Jenny Anderson Horne (R)* District No. 94 – Charleston and Dorchester counties 308D Blatt Building Columbia, SC 29201 803-212-6871 JennyHorne@schouse.org Patsy G. Knight (D)* District No. 97 – Colleton & Dorchester County 306B Blatt Building Columbia, SC 29201 803-734-2960 KnightP@schouse.org Christopher J. “Chris” Murphy (R)* District No. 98 – Dorchester County 310A Blatt Building Columbia, SC 29201 803-212-6925 chrismurphy@schouse.org James H. “Jim” Merrill (R)* District No. 99 – Berkeley and Charleston counties 308D Blatt Building Columbia, SC 29201 803-734-3972 JM1@schouse.org Sylleste Davis (R)* District 100 - Berkeley County 530D Blatt Office Bldg., Columbia, 29201 803-212-6930

Joseph H. Jefferson Jr. (D)* District No. 102 – Berkeley County 304D Blatt Building 803-734-2936 JeffersonJ@schouse.org Steven Goldfinch Jr. (R)* District No. 108 – Charleston and Georgetown counties 306 D Blatt Building Columbia, SC 29201 803-212-6880 StephenGoldfinch@schouse.com David J. Mack, III [D]* District 109 - Charleston & Dorchester Counties 328D Blatt Bldg., Columbia, 29201 (803) 734-3192 Harry B. “Chip” Limehouse III (R)* District No. 110 – Berkeley and Charleston counties 326C Blatt Building Columbia, SC 29201 803-734-2977 HBL@schouse.org Wendell G. Gilliard (D)* District No. 111 – Charleston County 328A Blatt Building Columbia, SC 29201 803-212-6793 WendellGilliard@schouse.org F. Michael “Mike” Sottile (R)* District No. 112 – Charleston County 306D Blatt Building Columbia, SC 29201 803-212-6880 MikeSottile@schouse.org J. Seth Whipper (D)* District No. 113 – Charleston County 328C Blatt Building Columbia, SC 29201 803-734-3191 JSW@schouse.org Mary E. Tinker (R) District No. 114 – Charleston and Dorchester counties 333D Blatt Building Columbia, SC 29201 803-212-6948

Peter M. McCoy, Jr. (R)* District No. 115 – Charleston County 420D Blatt Building Columbia, SC 29201 803-212-6872 petermccoy@schouse.org Robert L. Brown (D)* District No. 116 – Charleston and Colleton counties 330D Blatt Building Columbia, SC 29201 803-734-3170 RLB@schouse.org William E. “Bill” Crosby (R)* District No. 117 – Berkeley and Charleston counties 310D Blatt Building Columbia, SC 29201 803-212-6879 billcrosby@schouse.org Leonidas E. “Leon” Stavrinakis (D)* District No. 119 – Charleston County 420C Blatt Building Columbia, SC 29201 803-734-3039 StavL@schouse.org

Constitutional Offices Office of the Governor Nikki R. Haley, governor P.O. Box 12267 Columbia, SC 29211 803-734-2100 www.governor.sc.gov Office of the Lieutenant Governor Henry McMaster, lieutenant governor State House, First Floor P.O. Box 142 Columbia, SC 29202 803-734-2080 ltgovernor@scstatehouse.gov www.ltgov.sc.gov

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

State Treasurer’s Office Curtis M. Loftis, Jr., state treasurer Wade Hampton Office Building 1200 Senate St. Columbia, SC 29211 803-734-2016 treasurer@sto.state.sc.us www.treasurer.sc.gov

S.C. Department of Agriculture Hugh E. Weathers, commissioner 1200 Senate St. P.O. Box 11280 Columbia, SC 29211 803-734-2190 hweathe@scda.sc.gov www.scda.state.sc.us

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

Office of the Adjutant General Maj. Gen. Robert E. Livingston, Jr., adjutant general 1 National Guard Road Columbia, SC 29201-4766 803-806-4217 Robert.livingston@sc.ngb.army.mil www.scguard.com

Secretary of State’s Office Mark Hammond, secretary of state Edgar Brown Building 1205 Pendleton St., Suite 525 Columbia, SC 29211 803-734-2170 rdaggerhart@sos.sc.gov www.scsos.com

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

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Commerce Department Small Business Services Maceo Nance, director 1201 Main St., Suite 1600 Columbia, SC 29201 803-737-0440 scbiznetwork@sccommerce.com www.sccommerce.com 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 Superintendent of Education Molly Spearman, superintendent Rutledge Building 1429 Senate St., Suite 1006 Columbia, SC 29201 803-734-8492 info@ed.sc.gov www.ed.sc.gov/agency/superintendent

COUNTY ADMINISTRATION Charleston County Administrator Keith Bustraan Lonnie Hamilton III Public Services Building 4045 Bridge View Drive Charleston, SC 29405 843-958-4000 www.charlestoncounty.org Charleston County Council Herbert Ravenel Sass, III (District 1) 843-766-7500 hsass@charlestoncounty.org Dickie Schweers (District 2) 843-513-9229 dickieschweers@tds.net J. Elliott Summey (District 3) 843-200-4244 esummey@charlestoncounty.org Henry Darby (District 4) 843-297-9014 henrydarby@msn.com Teddie E. Pryor Sr., chairman (District 5) 843-744-5308 tpryor@charlestoncounty.org A. Victor “Vic” Rawl (District 6) 843-766-7334 vrawl@charlestoncounty.org

Anna B. Johnson (District 8) 843-795-3970 ajohnson@charlestoncounty.org

George Bailey (District 3) 843-563-2314 gbailey@dorchestercounty.net

Joseph K. Qualey (District 9) 843-693-3434 jqualey@charlestoncounty.org

Larry Hargett (District 4) 843-514-7135 lhargett@dorchestercounty.net

Berkeley County Government Phone: 843-719-4092 (Moncks Corner) 843-723-3800 (Charleston) 843-567-3136 (St. Stephen)

Carroll S. Duncan (District 5) 843-494-1881 cduncan@dorchestercounty.net

Berkeley County Council William W. Peagler, III chairman and county supervisor 1003 U.S. Highway 52 Moncks Corner, SC 29461 843-719-4094 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) 803-492-3150 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) 843-832-2739 wdavis@dorchestercounty.net David Chinnis (District 2) 843-408-1504 dchinnis@dorchestercounty.net

Colleen T. Condon (District 7) 843-225-7288 colleen@colleencondon.com

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William R. “Bill” Hearn, Jr. (District 6) 843-851-8383 bill.wrhearn@gmail.com Jay Byars (District 7) 843-563-0196 byarsj@dorchestercounty.net

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.berkeleymeansbusiness.com Charleston County Economic Development J. Steven Dykes, executive director 4000 Faber Place Drive Ste 140 Charleston, SC 29405 843-958-4513 sdykes@charlestoncounty.org www.charlestoncounty.org Dorchester County Economic Development John M. Truluck, SCCED P.O. Box 340 402 N. Main St. Summerville, SC 29484 843-875-9109 john@DorchesterForBusiness.com www.dorchestercountysc.net

COUNTY AUDITORS

Berkeley County Janet Brown Jurosko P.O. Box 6122 1003 U.S. Highway 52 Moncks Corner, SC 29461-6120 843-719-4309 jjurosko@co.berkeley.sc.us Charleston County Peter Tecklenburg P.O. Box 614 101 Meeting St. Charleston, SC 29402 843-958-4200 ptecklenburg@charlestoncounty.org

Dorchester County James “JJ” Messervy, Jr. Main Office: 201 Johnston St. St. George, SC 29477 843-563-0118 Summerville Office: 500 N. Main St. Summerville, SC 29483 843-832-0169 auditoradmin@dorchestercounty.net

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 29402 843-958-4360 asmith@charlestoncounty.org East Cooper Service Center: 1189 Sweetgrass Basket Pkwy Mount Pleasant, SC 29464 843-856-1230 North Charleston Service Center: Lonnie Hamilton III Public Services Building 4045 Bridge View Drive 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 AuditorAdmin@dorchestercounty.net mpearson@dorchestercounty.net

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 843-312-1654 Charleston Mayor: John Tecklenburg 80 Broad St. Charleston, SC 29401 843-577-6970 tecklenburgj@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: 843588-2447 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.

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Hollywood Mayor: Jacquelyn S. Heyward 6316 S.C. Highway 162 P.O. Box 519 Hollywood, SC 29449 843-889-3222 Isle of Palms Mayor: Richard F. Cronin P.O. Box 508 Isle of Palms, SC 29451 843-886-9361 www.isle-of-palms.sc.us Building Permits & Business Licenses: 843886-9912 James Island Mayor: Bill Woolsey 1238 Camp Road P.O. Box 12240 James Island, SC 29412 843-762-7744 www.townofjamesislandsc.org 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

Hanahan Mayor: Minnie Newman-Caldwell 1255 Yeamans Hall Road Hanahan, SC 29406 843-554-4221 www.cityofhanahan.com

McClellanville Mayor: Rutledge B. Leland III 405 Pinckney St. McClellanville, SC 29458 843-887-3712 www.townofmcclellanville-sc.net

Harleyville Mayor: Charles Ackerman 119 S. Railroad Ave. Harleyville, SC 29448 843-462-7676

Meggett Mayor: Harry V. “Buster” Herrington III 4776 S.C. Highway 165 Meggett, SC 29449 843-889-3622 www.meggettsc.com busterherrington@comcast.net.

Moncks Corner Mayor: Michael A. Lockliear 118 Carolina Ave. P.O. Box 700 Moncks Corner, SC 29461 843-719-7910 www.townofmonckscorner.sc.gov Michael@twn-mc.com 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 & Zoning: 843-884-1229 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 & 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 Reevesville Mayor: Paul Wimberly P.O. Box 126 Reevesville, SC 29471 843-563-2058

St. George Mayor: Anne Johnston 305 County Road S-18-61 St. George, SC 29477 843-563-3032 843-563-3032 St. Stephen Mayor: John W. Rivers 124 Hood St. St. Stephen, SC 29479 843-567-3597 riverstownofststephen@gmail.com Seabrook Island Mayor: Ronald Ciancio 2001 Seabrook Island Road Seabrook Island, SC 29455 843-768-9121 www.townofseabrookisland.org r.ciancio@townofseabrookisland.org 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 Summerville Mayor: Wiley Johnson 200 S. Main St. Summerville, SC 29483 843-851-4239 www.summervillesc.gov * This could change depending on the results of the November, 2016 General Election.

Ridgeville Mayor: James Williams 105 School St. Ridgeville, SC 29472 843-871-7960 Rockville Mayor: Riley Bradham P.O. Box 9 Rockville, SC 29487 843-559-0938 www.townofrockville.com

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Index Real Estate............................................................................................. 4 2015 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 Monthly number of showings....................................................................................................8 2015 closed sales.......................................................................................................................10 Inventory of homes for sale.....................................................................................................10 Charleston-area homeownership costs..................................................................................11 Distressed homes, 2015............................................................................................................11 Charleston area apartment market........................................................................................ 12 Apartment units under construction..................................................................................... 13 Office data trends..................................................................................................................... 14 Retail data trends...................................................................................................................... 14 Industrial data trends............................................................................................................... 15 Office submarket comparison, August 2016.......................................................................... 16 Retail submarket comparison, August 2016...........................................................................17 Industrial Buildings................................................................................................................... 18 2015 South Carolina area home sales at-a-glance............................................................... 20 Median sales price................................................................................................................... 20 Percent of original list price received.................................................................................... 20 Hate paying property taxes? That’s why you’re in South Carolina....................................... 21 Closed sales in S.C..................................................................................................................... 21

Architecture, Engineering and Construction.......................................22 Construction jobs by county....................................................................................................24 Architecture and engineering employment...........................................................................24 Career paths in construction and engineering.....................................................................25 New construction homes for sale...........................................................................................26 Construction growth, 2016 over 2015....................................................................................27 Construction jobs......................................................................................................................28 Months supply of inventory in the Charleston area...............................................................29 Percent of original list price received in the Charleston area..............................................29 Housing Starts for South Carolina, January 1988-April 2016............................................. 30 Construction Costs in S.C......................................................................................................... 31 Charleston Under Construction..............................................................................................32

Financial Services............................................................................... 36 South Carolina banking performance................................................................................... 38 Deposit market share report.................................................................................................. 39 Charleston’s largest credit unions......................................................................................... 40 Retirement income in S.C........................................................................................................ 40

Demographics and Economic Development......................................... 42 Average wage comparison, 2014.........................................................................................................44 Where can you make the most money in South Carolina?.................................................. 44 Charleston vs. Columbia.......................................................................................................... 45 2014 Charleston-area population........................................................................................... 46 Commuting to work – 2014 American Community Survey...................................................47 Average travel time to work in minutes, 2014........................................................................47 Charleston leads state in economic development................................................................ 48 Fastest growing job sectors.................................................................................................... 48 Charleston Digital Corridor companies at a glance............................................................. 48 Gross Domestic Product increase from 2007-2014............................................................. 49 Unemployment Rates of South Carolina................................................................................ 50

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How underemployed are South Carolinians?....................................................................... 50 Social Security Benefits in South Carolina............................................................................ 50 What do lawmakers and fast-food workers have in common?........................................... 50 Regional Economic Scorecard................................................................................................52

Education............................................................................................. 54 Trident Technical College course length and success......................................................... 56 American Community Survey, Educational Attainment 25 years and older...................... 56 Total R&D expenditures at universities and colleges in S.C., 2014.......................................57 Degrees awarded by public research institutions.................................................................57 The amount of student loan debt compared to salary 10 years after attending................ 58 Cumulative distribution of net lottery proceeds through FY 2014-2015............................. 58 Charleston-area school districts........................................................................................... 60

Import, Export and Distribution.......................................................... 62 South Carolina Ports by the numbers.................................................................................... 64 Foreign investment in S.C........................................................................................................ 66 Top 5 countries sending imports to S.C., 2015.......................................................................67 Top 5 countries receiving exports from S.C., 2015................................................................67 Export profile for Charleston MSA......................................................................................... 68 Trucking industry keeps S.C. moving..................................................................................... 68 S.C.’s interstate highway system............................................................................................ 68

Hospitality and Tourism........................................................................70 2015 tourism statistics.............................................................................................................72 Charleston International Airport growth..............................................................................73 Golf’s ripple effect..................................................................................................................... 74 Charleston’s wedding economy...............................................................................................75 2015 South Carolina craft beer statistics...............................................................................76 Charleston Wine + Food Festival 2015 statistics.................................................................... 77 Cruise ships at Charleston FY 2015........................................................................................ 77 The accolades of the Holy City.................................................................................................78 National park visitors in S.C., 2015..........................................................................................79

Medical and Health Care...................................................................... 80 South Carolina’s health care rankings....................................................................................82 Who got the flu?....................................................................................................................... 83 Site shows health care costs.................................................................................................. 83 Buying the Affordable Care Act ............................................................................................. 84 Total medicaid spending.......................................................................................................... 84 What does insurance cost?..................................................................................................... 84 Percent covered by health insurance.................................................................................... 84 Health insurance costs for workers, employers.................................................................. 85 Health care exchange enrollment.......................................................................................... 85

Business Resources and Government................................................. 86 Chambers of Commerce......................................................................................................... 88 Economic Development........................................................................................................... 89 Financial Assistance................................................................................................................. 91 Human Resources.....................................................................................................................92 Miscellaneous Business Directory..........................................................................................92 Technology................................................................................................................................ 94 Legislative Representatives.................................................................................................... 96 Constitutional Offices...............................................................................................................97