2018 Charleston Market Facts

MARKETFACTS August 2018 | www.CharlestonBusiness.com

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Taking the temp of our super-heated economy Coming roughly at the mid-point of the fiscal year, Market Facts is an annual reminder for me to stop focusing so intently on our business and take stock of the condition of business in the region.

The end of Q2 is usually a good place for a busy executive to stop and smell the roses. Or some other substance, depending on what kind of year you’re having. The region is undoubtedly an economic juggernaut. Boeing, Daimler, Volvo and their global supply chains continue to capture headlines and power a super-heated local economy. In juxtaposition to all of that good news, our traffic woes continue to tug quality of life and productivity downward. So mid-way through 2018, I think our roses smell a bit too much like car exhaust.

In May of this year, the broken cable on the Wando River bridge on westbound Interstate 526 was a sharp reminder of how fragile the commuting patterns are in our region. In a relatively short amount of time, local leadership and SCDOT did a fantastic job of getting traffic back to normal.

But, I must say, normal is pretty terrible. For me, this year’s Market Facts publication coincides with the point in time where our region’s leadership has to shift emphasis away from attracting major employers to implementing creative solutions like a Bus Rapid Transit system to alleviate the strains on the region’s infrastructure.

Grady Johnson When we came up with the idea of publishing Market Facts, we envisioned it as a tool for our President and readers to use for business plans. It was born of our need to gather facts and data to support our Group Publisher own expansion. When we discovered the difficulty of finding everything we needed, we had an epiphany: “Somebody ought to publish this stuff!” Of course, nobody hip and trendy writes out a business plan anymore. But you sure better do your research before you launch.

As this publication has grown, it has taken a place as the companion to our annual Book of Lists. The combination of the listings of the largest companies in 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 good grasp of 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 of important facts, and by adding footnotes and explanations to help make the data more user-friendly and contextually relevant. We’ve improved the ease of data interpretation this year by adding some explanatory charts within the main charts to help you get a better sense of trends. 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 also encourage you to use facts and data to get involved in finding solutions to the region’s infrastructure woes.

There isn’t much the average business person can do to improve, water, sewage and the electrical grid. However, you do have a direct effect on the number of cars sitting in traffic. A lot of us changed our commuting habits when the bridge was out and many of those habits can be implemented every day as common sense solutions. If you can do simple things like allowing employees to work from home and adjust your business hours so employees can stagger their arrival and departure times, it works wonders. Let’s fix this!

I hope Market Facts aids you in improving the performance of your business planning. Congratulations to our title sponsors, the College of Charleston and Samet Construction, 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 decision-makers. Enjoy!

About the Cover: An alligator surfaces at Magnolia Plantation in West Ashley. (Photo/Kim McManus)

South Carolina’s Media Engine for Economic Growth President and Group Publisher - Grady Johnson gjohnson@scbiznews.com • 843.849.3103 Vice President of Sales - Steve Fields sfields@scbiznews.com • 843.849.3110 Creative Director - Ryan Wilcox rwilcox@scbiznews.com • 843.849.3117 Events Director - Kathy Allen kallen@scbiznews.com • 864.720.1225 Audience Development & IT Manager Kim McManus kmcmanus@scbiznews.com • 843.849.3116 Accounting Manager - Vickie Deadmon vdeadmon@scbiznews.com • 803.726.7541 CUSTOM MEDIA DIVISION Director of Business Development - Mark Wright mwright@scbiznews.com • 843.849.3143 Business Development Executive Elizabeth Hodges lhodges@scbiznews.com • 843.849.3105

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

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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 $52.95; two years (54 issues) for $89.95; three years (81 issues) for $ 125.95.

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The entire contents of this newspaper are copyright by NWS Company 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

38

Financial Services

78

Medical and Health Care

44

Demographics and Economic Development

84

Business Resources and Government

54

Education

SECTION SPONSORS

2

REAL ESTATE

ARCHITECTURE, ENGINEERING AND CONSTRUCTION

DEMOGRAPHICS AND ECONOMIC DEVELOPMENT

EDUCATION

IMPORT, EXPORT AND DISTRIBUTION

HOSPITALITY AND TOURISM

MEDICAL AND HEALTH CARE

BUSINESS RESOURCES AND GOVERNMENT

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FINANCIAL SERVICES

Welcome from our sponsors

G

reetings, and welcome to another edition of the CRBJ Market Facts publication!

As you may know, the College of Charleston is a world-class, four-year public university deeply rooted in the liberal arts and sciences. Founded in 1770, we are the oldest university in South Carolina (13th oldest in the country) and located in the heart of downtown Charleston. We are the Lowcountry’s capital of intellectual inquiry and provide our students with the tools they’ll need to make a difference in the world. Our faculty of distinguished teacher-scholars empowers our students, both undergraduate and graduate and traditional and nontraditional, to be engaged, ethical citizens and leaders in our global society. When our students walk through our gates as graduates, they are ready to tackle the most pressing issues facing our world.

We invite you to learn more about the College of Charleston and see how you might partner with us in 2018 and beyond. Together, we can help develop the next CEO, teacher, artist, scientist and more.

Stephen C. Osborne Interim President College of Charleston

A

t Samet Corporation, our belief in building relationships goes hand-in-hand with building structures. This is why we team with the CRBJ, to support a publication that fosters relationships every day among the business community in the Lowcountry.

Relationships are what built Samet’s location here in Charleston, and what brought us the fully-staffed office we have today. We based this company and operations on principles that align closely with those of us who live and work here. All five of our core values — service, quality, innovation, trust, and safety — are top-of-mind with every job we build and every client we meet. Using these principles as guides, our Charleston team collaborates with clients on projects, large and small, in the corporate office, health care, education, hospitality, multi-family, industrial and manufacturing markets to support institutions in achieving their goals.

Carson Knizevski Regional Vice President Samet Corporation

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3

Real Estate The number of home listings in the Charleston metro area continues to rise from year to year, but at a slower pace compared to five years ago. As inventory growth slows, the cost of homeownership continues to rise, sparking a boom in residential real estate throughout the metro area. The Sea Islands and coastal areas continue to lead the number of residential real estate transactions and closings in the Charleston area.

FAST FACTS

$359,000

+19.6%

Expected average home price in the

Increase in the average home price in the

Charleston metro area for 2019.

Charleston region from 2014 to 2018.

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PAGE 6

SECTION SPONSOR

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REAL ESTATE | www.charlestonbusiness.com

A look ahead at residential home sales in the Charleston area – 2013

– 2014

– 2015

– 2016

– 2017

– 2018 forecast

Number of homes sold

Average sales price THE TREND:

THE TREND:

INCREASING HOME SALES

4.0%

PRICES CONTINUE TO RISE

5.6%

That’s the forecast growth in the number of homes sold from 2017 to 2019.

25,000

20,000

46%

16,221 15,000

That’s the forecast growth in the average sales price from 2017 to 2019.

$350K increase from 2013 to 2019

13,104

14,257

10,000

17,826

18,381

– 2019 forecast

18,746

19,121

$300K

$281K

$291K

$307K

$320K

$340K

$348K

$359K

$250K $200K $150K $100K

5,000

0

$50K 0 Sources: Charleston Trident Association of Realtors, 2017 Annual Report; Charleston Metro Chamber of Commerce, Economic Outlook Forecast, 2018-2019 SPONSORED CONTENT

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REAL ESTATE | www.charlestonbusiness.com

New home listings over 5 years

Change in new listings from 2016 to 2017

Charleston area housing market

27.3+72.7

Percentage change from previous year

27.3%

18,900

+10.8%

Goose Creek/Moncks Corner

increase from 2013-2017

20,231

Top five areas

21,993

23,008

24,054

+16.3%

Wando/Cainhoy Area

+37.4%

+23.3%

Johns Island

Seabrook Island

+15.3% Kiawah

– Dorchester County

Bottom five areas

– Berkeley County – Charleston County

-1.7%

Upper Mount Pleasant

-3.2%

-10.4%

+7.0% 2013

2014

+8.7% 2015

+4.6% 2016

+4.5% 2017

Lower Mount Pleasant

Hollywood/Ravenel/ Meggett Area

-8.7%

-16.5%

Sullivan’s Island

Folly Beach Source: Charleston Trident Association of Realtors, 2017 Annual Report

www.charlestonbusiness.com |

REAL ESTATE

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Charleston area home sales review Days on market until sale Top 5 areas

Change in days on market from 2016

Closed sales

Kiawah Daniel Island Folly Beach Upper Charleston Peninsula Upper Mount Pleasant

+35.8% +29.6% +14.6% +14.0% +9.7%

Change in closed sales from 2016

100 90

+37.8% +19.9% +18.4% +16.0% +14.0%

19K

86

80

18K

36%

80

Decrease from 2013 to 2017

17,826

40.2% Increase from 2013 to 2017

17K

70

18,381

16,221

16K

60

60

58

15K

55

50

14K

40

13K

30

Seabrook Island Edisto Area Isle of Palms Johns Island Kiawah

Top 5 areas

2013

2014

2015

2016

12K

2017

14,257 13,104 2013

2014

2015

2016

2017

Sources: Charleston Trident Association of Realtors, 2017 Annual Report

Charleston area showings review, 2017 Monthly showings per listing

THE TREND:

SEASONAL EBB AND FLOW

Jan Feb Mar April May June July Aug Sep Oct Nov Dec

Showings of real estate listings fluctuate throughout the year. Spring and summer are consistently the busiest times.

Monthly number of showings 35,000 32,500 30,000

6.8 6.5 6.9 6.5 6.4 5.8 5.7 5.7

Peak showing activity month

One-year change in total showings

4.7 5.5 5.1 4.7

Charleston County

25,000

Berkeley County

64,193

Goose Creek/Moncks Corner

43,074

Greater Summerville Area

20,000

41,857

West Ashley Area

17500

6-2015

12-2015

6-2016

12-2016

6-2017

12-2017

29,788

Lower Mount Pleasant

29,244

Dorchester Road Corridor

Sources: Charleston Trident Association of Realtors, 2017 Annual Report

REAL ESTATE | www.charlestonbusiness.com

34,704

Upper Mount Pleasant

Greater North Charleston

175,812

67,867

Dorchester County

22,500

8

+3.2%

Top 10 Areas: Number of showings

27,500

15,000 12-2014

March 2017

22,671 21,584

Top 5 Areas: Number of showings per listing West Ashley Dorchester Road Corridor James Island Dorchester County Greater Summerville Area

7.4 7.4 7.2 6.9 6.8

Single-family homes vs. condos in the Charleston area

23+77 24+76 Median sales price

23%

24%

Increase from 2013 to 2017

Increase from 2013 to 2017

$270K

$219K

$229K

$244K

$255K

$160K

$173K

$181K

$190K

$199K

– 2013

– 2014

– 2015

– 2016

– 2017

Percent of original list price received Single-family

Condos

100 99

THE TREND:

98

CONDOS GAINING VALUE FASTER

97

Both single-family homes and condos continue to rise in value.

96 95 94 93 92

2017 is the first year condos have a higher percent of original list price received than single family homes, by 0.1%.

The recent boom in construction continues to focus on apartments and hotels rather than condos.

The lack of new condo inventory has contributed to rising values.

91 Single-family

Condos

90 Sources: Charleston Trident Association of Realtors, 2017 Annual Report

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REAL ESTATE | www.charlestonbusiness.com

Charleston area apartment market All information obtained from Real Data Charleston as of March 2018

$1175

Average monthly rent in the Charleston area

Total apartment units – Dorchester County

$1125

$975 $950 $925 $900 $875 $850 $825 $800 $775 Feb. 2013

Goose Creek

Summerville

$1075

$1000

4,479

8,867

$1100

$1025

– Charleston County

– Average Monthly Rent

$1150

$1050

– Berkeley County

$

THE TREND:

1,042

1,081

$

RISING RENT From February 2013 to February 2018 the average rent rose from $842 to $1,170. The rate of the increase is beginning to slow as more apartments are built.

PERCENTAGE GROWTH IN RENT FROM FEB. 2013 - FEB. 2018

39+61

5,418

North Charleston $

Mount Pleasant

$

1,116

2,126

James Island

1,406

$

Feb. 2018

1,505

$

9,719

West Ashley

39%

7,433

928

1,876

Downtown

1,365

$

Source: Real Data Charleston March 2018 publication

www.charlestonbusiness.com |

REAL ESTATE

11

Apartment units under construction in the Charleston area

5,519

No. of units 5,500

5,150 4,587

5,000 4,500 4,000

3,641

3,497 3,140

3,700

Aug. 2014

Feb. 2015

3,500 3,000

5,439

5,259

2,415

2,525

2,500 2,000 1,500 Feb. 2013

Aug. 2013

Feb. 2014

Submarket comparison – Total units – Units under construction – Units proposed THE TREND:

BUILDING CONTINUES Downtown, Mount Pleasant, Summerville and West Ashley lead the way with apartment units under construction and proposed. Downtown is on pace to triple its inventory.

0

Downtown

1,000

2,000

3,000

1,876

Summerville West Ashley

4,000

1,959

2,126

5,000

Aug. 2016 6,000

Feb. 2017 7,000

8,000

Aug. 2017 9,000

Feb. 2018

10,000

11,000

1,795

569 7,433

Mount Pleasant North Charleston

Feb. 2016

4,479

Goose Creek James Island

Aug. 2015

1,274

5,418

1,289

280 480 8,867

700

1,214 9,719

712

852

Source: Real Data Charleston March 2018 publication

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REAL ESTATE | www.charlestonbusiness.com

Charleston area apartment vacancy rates

Vacancy rate 12%

11.3%

11% 10% 9%

8.3%

8.3%

8%

7.5%

6.7%

7%

5.2%

6%

5.6%

5.4%

5.3%

8.9%

8.8%

5% 4% Feb. 2013

Aug. 2013

Feb. 2014

Aug. 2014

Submarket comparison THE TREND:

0

3%

Aug. 2015 6%

Feb. 2016 9%

12%

Aug. 2016 15%

Feb. 2017 18%

21%

Aug. 2017 24%

Goose Creek

From August 2017 to February 2018 the vacancy rate rose by 2.4 percentage points, the fastest increase in the last five years.

James Island

Summerville West Ashley

26%

11.5% 11.8% 16.7%

Mount Pleasant North Charleston

Feb. 2018

26.0%

Downtown

VACANCY RISING SHARPLY

Downtown has the highest vacancy rate of 26%. They also have the most apartment units both under construction and proposed.

If all of those get built, it would triple the apartment supply.

Feb. 2015

6.7% 9.1% 8.7% Source: Real Data Charleston March 2018 publication

www.charlestonbusiness.com |

REAL ESTATE

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Office submarket comparison, Q1 2018 Daniel Island

Downtown

Upper North Charleston

Mount Pleasant

Lower North Charleston

Q1 2018

West Ashley

Average rental rates per square foot $35.00

$35

Top 10 office sales

Summerville/Goose Creek

Total inventory in square feet

1 4400 Leeds Ave. Size: 125,000 sq. ft. Cost: $36.4M Price/SF: $291.20

3,500,000

2 838 Morrison Drive Size: 8,439 Cost: $9.1M Price/SF: $1,078.33

3,259,901

3 222 W. Coleman Blvd.

Size: 19,661 Cost: $5.1M Price/SF: $259.40

3,000,000

$30

$27.71

2,734,110

$27.74 2,500,000

$25.56

$25

$22.42

$21.50

4 1200 Two Island Court Size: 16,006 Cost: $3.1M Price/SF: $412.75

2,479,095 962,446

2,000,000

6 410 Mill St. Size: 11,870 Cost: $2.1M Price/SF: $179.26

$20

$17.59

1,500,000

7 89 Old Trolley Road Size: 14,251 Cost: $2.1M Price/SF: $141.13

1,443,417 1,124,315

$15

8 126 Church St. Size: 4,321 Cost: $1.7M Price/SF: $399.21

1,000,000 719,761

$10

$0

9 12 State St. Size: 3,308 Cost: $1.6M Price/SF: $486.70

500,000

10 3294 Ashley Phosphate Road Size: 16,755 Cost: $1.6M Price/SF: $95.71

0 Source: Colliers International

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REAL ESTATE | www.charlestonbusiness.com

5 4016 Salt Pointe Parkway Size: 125,000 Cost: $36.4M Price/SF: $190.55

Source: Lee & Associates

Retail submarket comparison, Q1 2018 Downtown

East Islands/Mount Pleasant

North Charleston

West Islands

Q1 2018

West Ashley/Daniel Island

Average rental rates per square foot $50

Top 10 retail sales

James Island/Folly Beach

1 475 East Bay St. Size: 5,400 Price: $12.0M Price/SF: $2,216

Total inventory in square feet 10,000,000

$48.44

2 4952 Centre Pointe Drive Size: 48,000 Price: $8.7M Price/SF: $180.21

10,081,159

3 1683 N. U.S. Highway 17 Size: 3,688 Price: $5.4M Price/SF: $1,464

$40

8,000,000

4 610 N. U.S. Highway 52 Size: 2,816 Price: $4.3M Price/SF: $1,536

7,789,054

5 8155 Rivers Ave. Size: 94,257 Price: $4.1M Price/SF: $43.50

6,376,129 $30

$24.76 $19.67

$20

6,000,000

$27.08

4,000,000

$19.36

6 3774 Ladson Road Size: 5,443 Price: $3.8M Price/SF: $701.67 7 5742 Memorial Blvd.

Size: 11,185 Price: $3.6M Price/SF: $327.22

3,890,511

8 1255 St. James Ave. Size: 4,757 Price: $3.6M Price/SF: $750.68

$14.02 $10

2,000,000

9 3774 Ladson Road Size: 5,443 Price: $3.5M Price/SF: $642.84

1,813,576 596,448

$0

0

10 8945 University Blvd.

Size: 1,967 Price: $3.4M Price/SF: $1,718

Source: Lee & Associates

Industrial market summary statistics, Q2 2018 Berkeley County

Clements Ferry

Goose Creek/Moncks Corner

Average rental rates per square foot

Summerville

20,062,028

20,000,000

$6.61

$6

$5.70

$5

16,000,000

$4.79 12,000,000

$4

$3

$2

North Charleston

Total inventory in square feet

$7.18

$7

Hanahan/North Rhett

$2.68

8,000,000

11,278,683

337,056 5,693,864

$1.50

5,865,771 4,415,872

4,000,000

$1

$0

16

REAL ESTATE | www.charlestonbusiness.com

0

Source: Colliers International

Industrial Buildings Ranked by Available Square Footage

Available Square Feet

Clear Height (in feet)

Dock-Height Truck Doors

Wall Type

Year Built

Brokerage Firm

537 Omni Industrial Blvd.

Summerville, SC 29483

587,720

36'

79

Concrete Tilt Wall

2018

Bridge Commercial

1334 Drop Off Drive Summerville, SC 29456

562,544

36'

117

Concrete Tilt Wall

2018

CBRE

830 Drop Off Drive Summerville, SC 29456

343,150

32'

64

Concrete Tilt Wall

2018

Bridge Commercial

843-535-8600 www.bridge-commercial.com

1017 Northpointe Industrial Blvd.

Hanahan, SC 29406

247,000

32'

57

Concrete Tilt Wall

2018

Bridge Commercial

843-535-8600 www.bridge-commercial.com

7770 Palmetto Commerce Drive Ladson, SC 29456

196,540

26'

44

Insulated Precast Concrete

-

7054 Weber Drive Ladson, SC 29456

173,000

32'

35

Concrete Tilt Wall

2018

CBRE

6555 Fain St. North Charleston, SC 29418

170,000

17'-24'

10

Concrete

1975

Bridge Commercial

843-535-8600 www.bridge-commercial.com

4280 Pace St. North Charleston, SC 29405

158,000

26'-33'

2

Metal

1967

Bridge Commercial

843-535-8600 www.bridge-commercial.com

Palmetto Commerce Parkway B Ladson, SC 29456

142,700

32'

20

Concrete Tilt Wall

-

CBRE

843-577-0702 www.cbre.com/charleston

2453 King Street Extension Charleston, SC 29403

121,400

24'

15

Concrete

1975

CBRE

843-577-0702 www.cbre.com/charleston

0 Deming Way, Building 1 Summerville, SC 29486

120,000

26'

-C

Metal

2018

Bridge Commercial

843-535-8600 www.bridge-commercial.com

635 Omni Industrial Blvd.

Summerville, SC 29483

117,000

26'-29'

13

Insulated Precast Concrete

2017

Bridge Commercial

843-535-8600 www.bridge-commercial.com

2465 Air Park Road North Charleston, SC 29418

100,000

18 - 24'

14

Metal

1981

CBRE

843-577-0702 www.cbre.com/charleston

9801 U.S. Highway 78 Ladson, SC 29456

94,700

52'

0D

Metal

1970

CBRE

843-577-0702 www.cbre.com/charleston

7409 Magi Road Hanahan, SC 29406

91,720

25'

29

Metal

2004

JLL

1701 Charleston Regional Parkway Charleston, SC 29492

78,000

30'

23

Concrete Tilt Wall

2016

CBRE

4279 Crosspoint Drive, Building 6 Ladson, SC 29456

78,000

30'

-E

Concrete Tilt Wall

2016

Charleston Industrial

843-377-8383 www.charlestonindustrial.com

2310 Charleston Regional Parkway Charleston, SC 29492

61,200

30'

-F

Concrete Tilt Wall

2015

Charleston Industrial

843-377-8383 www.charlestonindustrial.com

4269 Crosspoint Drive, Building 5 Ladson, SC 29456

52,000

30'

-G

-

-

1 Deming Way, Building 2 Summerville, SC 29486

24,000

26'

-H

Metal

2018

Address

Source: Bridge Commercial. 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 scbiznews.com/update-list-information/ B currently under construction, address not yet known C more or less the 20, currently under construction D drive-in doors E could be more or less that 8, under construction F could be more or less than 8, currently under construction G could be more or less than 8, under construction H could be more or or less that 20, currently under construction

18

REAL ESTATE | www.charlestonbusiness.com

BH&G RE The Beach Co.

-

Bridge Commercial

Broker Phone / Website 843-535-8600 www.bridge-commercial.com

843-577-0702 www.cbre.com/charleston

843-270-5454 -

843-577-0702 www.cbre.com/charleston

843-805-5100 www.us.jll.com

843-577-0702 www.cbre.com/charleston

-

843-535-8600 www.bridge-commercial.com

Researched by Bridge Commerical

2017 South Carolina home sales at-a-glance Average days on market

Median sales price

88

104

Average days on market

+5.3%

Average days on market

Single-family homes

Change in price from 2016-2017

Condos

– 2013

150

– 2014

Condos

Single-family Homes

Change in price from 2016-2017

Single-family Homes

170 160

+5.0%

This chart uses a rolling 12-month average for each data point.

140

$160K

$181K

$169K

$190K

Condos

– 2015

– 2016

– 2017

$200K

130

$132K

$126K

$120K

$139K

$146K

120 110 100 90 80 1-2013

1-2014

1-2015

1-2016

Single-Family Homes

1-2017

Condos

Bedroom count review Closed sales 2016 2017

3 bedrooms

2 bedrooms or fewer 12,042 12,962

4 bedrooms or more

+7.6%

Market share in 2017

+47.8%

from 2016 to 2017

42,046

2016 2017

43,479 25,624

2016

26,808

2017

Percent of list price received 98%

Top areas: 4 bedrooms or more

This chart uses a rolling 12-month average for each data point.

North Augusta

+3.4%

+37.4%

+36.8%

Charleston Trident

Sumter

+36.4%

+36.4%

Aiken

Greater Greenville

from 2016 to 2017

3 bedrooms

Columbia

from 2016 to 2017

+4.6%

2 bedrooms or fewer

+39.8%

4 bedrooms or more

This chart uses a rolling 12-month average for each data point.

97% 96% 95% 94% 93% 92% 1-2013

20

1-2014

1-2015

1-2016

1-2017 Source: S.C. Association of Realtors, 2017 Annual Report

REAL ESTATE | www.charlestonbusiness.com

New listings in South Carolina

21+79

Percentage change from previous year

21%

increase from 2013-2017

103,978

106,741

109,307

114,266

94,395

+10.2%

+2.7%

+2.4%

+4.5%

2014

2015

2016

2017

2013

Pending sales in South Carolina

43+57

Percentage change from previous year

43%

79,927

increase from 2013-2017

83,753

75,306

65,872

58,586

+12.4% +14.3% 2013

2014

2015

+6.1%

+4.8%

2016

2017

Source: S.C. Association of Realtors, 2017 Annual Report

www.charlestonbusiness.com |

REAL ESTATE

21

Architecture, Engineering and Construction Labor shortages and low unemployment continue to put pressure on construction-related companies and developers throughout the Charleston metro region. The cost of construction continues to rise even as demand for commercial, residential and industrial projects increases as more businesses and their employees move into the market.

FAST FACTS

$1,600,000,000

$959

Total construction costs for the Charleston area

Average weekly wages in construction

in 2017, slightly lower than the Greenville area.

for the Charleston metro area.

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

New construction homes for sale, 2017

April 2016 Peak of New Construction Inventory

Top areas: New construction market share in 2017 1,700

46.7%

Johns Island

36.3%

Goose Creek/Moncks Corner 1,600

Hollywood/Ravenel/ Meggett Area

34.1% 30.0%

Upper Mount Pleasant

1,500

23.4%

Dorchester Road Corridor 1,400

1,300

1,200

1,100

1,000

2013

2014

2015

2016

2017

Source: Charleston Trident Association of Realtors, 2017 Annual Report

Percent of original list price received, Charleston area 2017 – New Construction

TOP AREAS: NEW CONSTRUCTION MARKET SHARE IN 2017

– Previously owned

102%

100.1% 100%

PREVIOUSLY OWNED HOMES CATCHING UP TO NEW CONSTRUCTION 98%

96%

As the months supply of previously owned homes decreases at a faster pace, the percentage of list price received continues to rise faster than new construction. Though new construction still gets 100.1% of the list price, that percentage has ticked down slightly over the last two years.

New construction 5.6 5.0 4.5 4.3

4.1

Hollywood / Ravenel / Meggett Area.............34.1% Dorchester Road Corridor...................................23.4%

Previously owned 6.0 5.2 3.8

Goose Creek / Moncks Corner......................... 36.3% Upper Mount Pleasant......................................... 30.0%

MONTHS SUPPLY OF INVENTORY

THE TREND:

Johns Island............................................................... 46.7%

3.5

Greater Summerville Area...................................19.5% Daniel Island.............................................................. 18.2% Greater North Charleston......................................17.3%

2.8

West Ashley Area..................................................... 15.0% Lower Mount Pleasant...........................................13.7%

2013 2014 2015 2016 2017

2013 2014 2015 2016 2017

Wando / Cainhoy Area.......................................... 12.3% James Island................................................................12.1%

95.3%

94%

Upper Charleston Peninsula.............................. 12.0% Folly Beach....................................................................7.0% Hanahan.........................................................................6.9% Sullivan’s Island........................................................... 5.1% Seabrook Island.......................................................... 5.1%

92%

Isle of Palms.................................................................4.4% Kiawah............................................................................. 3.1% Downtown Charleston............................................3.0%

90%

24

Edisto Area.....................................................................1.2%

2013

2014

2015

2016

2017 Source: Charleston Trident Association of Realtors, 2016 Annual Report

ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

New private housing units authorized by building permits in S.C. Recession

4,400

THE TREND:

PRIVATE HOUSING STILL RECOVERING

4,000

Though not at pre-recession levels, building permits continue to rise steadily across the state.

3,600 3,200 2,800 2,600 2,200 1,800 1,600 1,200 800

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Source: Charleston Trident Association of Realtors, 2016 Annual Report

Housing building permits for S.C. metro areas = 200 homes, 2016

39.3+60.7

18+82

1,921

5.7%

-6.1%

3.4%

4,627

5,753

5,403

6,974

7,373

4,785

2,268

Spartanburg

26

5.7+ 94.3 6.1+ 93.9 3.4+96.6

= 200 homes, 2017

= Percent change from 2015-2016

18.1%

Annual privately owned housing units

Columbia

ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

Greenville-Anderson-Mauldin

Charleston-North CharlestonSummerville Source: U.S. Census Bureau

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION

27

Total construction costs for S.C. metro areas

99+1

THE TREND:

CONSTRUCTION COSTS ON THE RISE ACROSS METRO AREAS

99%

$2B

The Greenville-Anderson-Mauldin area has seen its construction cost rise by 99% from 2014-2017.

In 2017, they surpassed the Charleston area in total construction costs.

$1.8B $1.6B $1.4B

$1.5B

$1.3B

Charleston-North CharlestonSummerville

$1.2B

$904M

$1.25B

$1.1B

$1.2B $840M

Greenville-Anderson-Mauldin

$672M

$1.75B

$760M

$1.0B

$790M $750M

Columbia

$329M $171M

$387M

$232M

$500M

$250 M

Spartanburg

2014

28

2015

ARCHITECTURE, ENGINEERING AND CONSTRUCTION | www.charlestonbusiness.com

2016

2017

0 Source: U.S. Census Bureau

S.C. construction costs mostly below U.S. average, 2017 To price jobs correctly, builders use area modification factors to estimate and adjust costs. Percentage factors in specific South Carolina cities are shown below.

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

Beaufort

Myrtle Beach

Charleston

Columbia

Spartanburg

Rock Hill Source: 2017 National Building Cost Manual - Craftsman

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION

29

Number of construction jobs by county – Dorchester County

2015

– Berkeley County

2016

14,000

2017

14,000

14,000

12,958

12,180 12,000

12,000

12,000

10,000

10,000

10,000

8,000

8,000

8,000

6,000

6,000

6,000

4,000

4,000

2,000

0

11,052

2,885 1,724

2,000

3,305 1,982

0

– Charleston County

3,729

4,000

2,000

2,015

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

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Average weekly wage for construction jobs by county – Dorchester County

2015

– Berkeley County

2016

2017 $1,200

$1,200

$1,200

– Charleston County

$1,091

$1,073 $1,000

$949 $807

$1,000

$936

$1,000

$843

$836 $800

$800

$600

$600

$600

$400

$400

$400

$200

$200

$200

$0

$0

$0

$800

$731

$943

Source: S.C. Commerce Department Labor Market Analysis

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION

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Architecture, engineering and construction related occupation and wages, Charleston MSA – 2015

Architecture and engineering occupations Employment

Average hourly wage $35.48 $35.29 $36.36

7,730

7,060

– 2016

– 2017

Construction and extraction occupations Employment 14,410 15,860

Average hourly wage

Employment 13,690

12,780

7,020

Installation and repair occupations

$18.74 $18.97 $19.35

Average hourly wage

14,660 14,620

$21.34 $21.31 $21.60

Source: S.C. Commerce Department Labor Market Analysis

32

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Office construction pipeline, Q1 2018 – Proposed (sq. ft.)

– Under construction (sq. ft.)

– Delivered (sq. ft.) in 2017

492,227

304,708

206,871 190,000 168,000

167,082

146,420

180,667

177,373

122,928 76,652

65,902 11,025

Downtown

44,000 -

-

Lower North Charleston

Upper North Charleston

27,832

-

-

Daniel Island

Mount Pleasant

-

West Ashley

10,000

Summerville/ Goose Creek Source: Colliers International

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION

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CHARLESTON UNDER CONSTRUCTION

The Saint Hotel Charleston Historic District 194 East Bay St., Charleston Developer/owner: Seaside Hospitality Corp., Dallas Architect: Goff D’Antonio Associates, Charleston Contractor: Bay Street Contractors Inc., Charleston Engineers: Lehmann Engineering, San Antonio, Texas (structural); Saber Engineering, Charlotte (mechanical, electrical, plumbing) Estimated completion date: 2019 The project is a five-story hotel with 45 guest rooms with a site area of approximately 6,055 square feet. The existing building was demolished. The first floor of the new building will be a lobby and bar with automated valet parking in the rear. The second floor through the fourth floor will contain hotel rooms and support spaces. The fifth floor will be penthouse suites with a rooftop terrace.

Bentons Lodge Executive Center 108 Bentons Lodge Road, Summerville Developer/owner: Benton Lodge Properties LLC Architect: CEMS Engineering Inc., Ladson Contractor: J. Musselman Construction Inc., Charleston Estimated completion date: March 2019 This two-story, 20,000-square-foot building will be the CEMS Engineering & Architecture headquarters. The building includes structural steel elements, exposed building systems and architectural features throughout the space. Sustainable efforts include the use of permeable paving, native landscape buffers, continuous air barriers, high efficiency mechanical systems and LED lighting.

34

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Lucy Garrett Beckham High School 1560 Mathis Ferry Road, Mount Pleasant Developer/owner: Charleston County School District Architect: McMillan Pazdan Smith Architecture, Charleston Engineers: RMF Engineering, Charleston (mechanical, electrical, plumbing, fire protection); ADC Engineering, Hanahan (civil, structural, landscape) Estimated completion date: August 2020 Estimated total cost of project: $56 million The new high school will serve the Mount Pleasant / East Cooper community. The school will accommodate 1,500 students and will be approximately 245,000 square feet. The site for the school is located where the previous Wando High School stood. Spaces in the new school include a gymnasium and auxiliary gymnasium, an auditorium, a cafeteria, classrooms, science laboratory space and specialty laboratory spaces. The facility also will house a ninthgrade academy.

Stono Park Elementary School 1699 Garden St., Charleston Developer/owner: Charleston County School District, Charleston Architect: SGA Architecture, Charleston Contractor: JE Dunn Construction, Savannah Engineers: RMF, Charleston (mechanical, electrical, plumbing); Cypress Engineering, Summerville (civil); Britt Peters & Associates, Charleston (structural) Estimated completion date: August 2019 Estimated total cost of project: $16.5 million The new, $16.5 million, 500-student school is under construction on the old facility site. Design of the approximately 70,000-square-foot facility is based on the current CCSD Education Facility standards. Master planning has taken the site constraints of limited site acreage and the existing flood plain into consideration, resulting in a two-story design for the school in order to maximize the building program and on-site circulation.

Dee Norton Child Advocacy Center – King Street 1061 King St., Charleston Developer/owner: Dee Norton Child Advocacy Center, Charleston Architect: Rush Dixon Architects LLC, Mount Pleasant Contractor: Hill Construction, Charleston Engineers: Earthsource Engineering, Mount Pleasant (civil, landscape); Tobias & West Structural Engineers, Mount Pleasant (structural); Charleston Engineering, Charleston (mechanical, electrical, plumbing) Estimated completion date: 2019 This project consists of a renovation with improvements to the existing building and construction of a 1,200-square-foot addition.

36

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Market at Mill Creek 2110 S.C. Highway 41, Mount Pleasant Developer/owner: Market at Mill Creek Partners LLC, LOCATION Architect: Novus Architects, Mount Pleasant Contractor: Armada Hoffler Construction, Virginia Beach, Va. Engineering: ADC Engineering, Hanahan (civil) Estimated completion date: February 2019 The Market at Mill Creek is a new, 75,000-square-foot Lowes Foods-anchored neighborhood shopping center, located amid the Mount Pleasant communities of Dunes West, Park West, Rivertowne and Planters Pointe. Limited retail space is available for pre-lease, with suites from 1,200 square feet to 3,200 square feet. Available space includes inline shops and outparcel pads with drive-thru access.

Cougar Point Clubhouse 12 Kiawah Beach Drive, Kiawah Island Developer/owner: Kiawah Island Golf Resort, Kiawah Island Architect: Robert A.M. Stern Architects, New York Contractor: Choate Construction, Mount Pleasant Engineers: Thomas & Hutton, Mount Pleasant (civil); DWG Consulting Engineers, Mount Pleasant (structural, mechanical, electrical) This is the first of several projects planned to accommodate Kiawah Island Golf Resort’s hosting of the 2021 PGA tour. This 28,000-square-foot structure consists of steel and concrete and is clad with a variety of brick and fiber cement siding. High-end trim, soffits and fascia adorn the exterior. A cedar shake roof is on the exterior.

Newmarket Residences 287 Huger St., Charleston Developer/owner: Mission Properties, Charlotte; White Point Partners, Charlotte Architect: Goff D’Antonio Associates, Charleston Contractor: Harold K. Jordan & Co., Wilmington, N.C. Engineers: Ellinwood Machado, Atlanta (structural); Charlotte Mechanical, Charlotte (mechanical, electrical, plumbing, fire protection); Thomas & Hutton, Mount Pleasant (civil) The project is a 194-unit multifamily apartment project over podium parking. There will be a sales office and amenities including a pool. The site is approximately 2.5 acres, and it faces Huger Street and is next to Palmetto Brewery.

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ARCHITECTURE, ENGINEERING AND CONSTRUCTION

37

Financial Services With more than 85% of the market share, 10 financial institutions in the Charleston region hold nearly $11.5 billion in deposits, including the top three that topped the billiondollar mark: Wells Fargo Bank, Bank of America and South State Bank. S.C. Federal Credit Union remains the largest credit union based on deposits of more than $1.6 billion.

FAST FACTS

$13,200,000,000 $36,100,000,000 Value of deposits at banking institutions in

Value of deposits at banking institutions

the Charleston metro area.

across the entire state of South Carolina.

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FINANCIAL SERVICES | www.charlestonbusiness.com

Projected impact of federal tax reform for tax year 2018, S.C. residents

42% Unchanged tax liability

31+27+42

Changes in tax rate for married joint-filers

31% Decreased

Percent of total returns in S.C.

tax liability

2017

2018

Up to $19,050

Up to $19,050

10%

10%

15%

12%

Over $19,050 to $77,400

27% Increased

Over $19,050 to $77,400

25%

22%

Over $77,400 to $156,150

Over $77,400 to $165,000

28%

24%

Over $156,150 to $237,950

tax liability

Over $165,000 to $315,000

33%

32%

Over $237,950 to $424,950

43% of S.C. residents have zero tax liability

Over $315,000 to $400,000

35%

35%

Over $424,950 to $480,050

Over $400,000 to $600,000

39.6%

37%

Over $480,050

Over $600,000 Source: S.C. Dept of Revenue and Fiscal Affairs

Deposit market share report, 2017 Charleston metro statistical area

33

Number of institutions in the market Other Market Share: 13.5% 10. The Bank of South Carolina Deposits: $387 million Market Share: 2.92% 9. SunTrust Bank Deposits: $474 million Market Share: 3.58% 8. CresCom Bank Deposits: $600 million Market Share: 4.53% 7. Pinnacle Bank Deposits: $609million Market Share: 4.59% 6. Synovus Bank Deposits: $740 million Market Share: 5.59%

40

FINANCIAL SERVICES

195

24.4+15.6+12.86.65.95.64.64.53.62.911.4 Number of offices inside market

The top 10 banks have

86.5% of the market share

5. Branch Banking and Trust Co. Deposits: $784 million Market Share: 5.92% | www.charlestonbusiness.com

4. First Citizens Bank & Trust Co. Deposits: $871 million Market Share: 6.58%

$13.2 billion Total deposits inside market

1. Wells Fargo Bank, National Association Deposits: $3.2 billion Market Share: 24.41%

2. Bank of America, National Association Deposits: $2.1 billion Market Share: 15.57%

3. South State Bank Deposits: $1.7 billion Market Share: 12.81% Source: FDIC Annual Deposit Market Share Report

Mobilized for finance

What do mobile bankers do?

The Federal Reserve reported data on mobile banking activities for the U.S. in March that shows a rising trend toward adoption among adults with a bank account over five years.

20%

2011

26%

2012

30%

2013

35%

2014

7% Send money to

38%

21% - Deposit check

2015

The Fed asked general users to offer their opinions about how safe they felt using mobile apps and mobile banking services in 2015.

3% - Very Unsafe 19% - Somewhat unsafe

16+55+1937 SAFETY LEVEL

24% - Receive alert

a person

What about security?

6% - Unsure

The Federal Reserve report showed that most mobile banking users check on their balance, move money between accounts and receive alerts on their mobile device.

40% - Check balance

15%

16% - Very safe

55% - Somewhat safe

20% - Pay bill Locate branch/ ATM

Transfer between 25% - accounts Source: Federal Reserve

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FINANCIAL SERVICES

41

South Carolina banking performance All insured institutions

31+69

Total assets

THE TREND:

30.8% increase in total assets

$40B

$30B

Number of institutions reporting

$27.6B

CONSOLIDATION IN BANKING Mergers and aquisitions in the industry have led to a decrease in the number of banking institutions in the last three years.

$36.1B

60

$28.1B

56

53

2016

2017

$20B 2015

Percentage of unprofitable institutions

8.3+91.7 12.5+87.3 16+84

$10B

0

2015

2016

2017

8.3%

12.5%

15.9%

2015

2016

2017

Source: Federal Deposit Insurance Corp., Division of Insurance and Research

Charleston’s largest credit unions $1,600,000,000

MEMBERS

$1,647,750,843

155,252

$1,400,000,000

$1,200,000,000

$1,00,000,000

$800,000,000

$594,716,535

48,551 $600,000,000

$400,000,000

$323,495,342

54,440 $53,584,686

$52,874,362

7,839

7,063

$200,000,000

42

$11,154,715

2,479

$2,500,684

577

S.C. Federal Credit Union

Heritage Trust Federal Credit Union

CPM Federal Credit Union

Santee Cooper Credit Union

Latitude 32 Federal Credit Union

Berkeley Community Credit Union

C O Federal Credit Union

Charleston County Teachers Federal Credit Union

$1,506,448

880

Source: National Credit Union Association 2017 Quarter 4 reports

FINANCIAL SERVICES | www.charlestonbusiness.com

Demographics and Economic Development Thirty-eight people move to the Charleston region each day, data from the Charleston Regional Development Alliance show, making it one of the fastest-growing places in the U.S. and adding additional pressure to provide affordable housing, jobs that keep up with the cost of living and educational opportunities in one of the most desirable regions in the state.

FAST FACTS

20,220

108,976

Automotive-related jobs added to

Number of daily commuters into

South Carolina’s economy since 2011.

Charleston County, the highest in the region.

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DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com

2017 Charleston-area population By county and major city

S.C. largest cities by population City Population

217,937

156,456

Berkeley County

Dorchester County

42,619

50,388

Goose Creek

Summerville

110,861

North Charleston

86,668

401,438

Charleston County

Mount Pleasant

134,875 Charleston

1. Charleston

134,875

2. Columbia

133,114

3. North Charleston

110,861

4. Mount Pleasant

86,668

5. Rock Hill

73,068

6. Greenville

68,219

7. Summerville

50,388

8. Goose Creek

42,619

9. Hilton Head Island

40,055

10. Sumter

39,982 THE TREND:

HALF OF THE TOP 10 LARGEST CITIES IN S.C. ARE IN THE CHARLESTON MSA In 2017, Charleston overtook Columbia as the most populated city in the state. For many Charlestonians, this has not been a moment to brag about. As the population continues to grow, so does the pressure on local infrastructure, housing, wages and residents’ patience for long-term solutions.

Source: U.S. Census Bureau

46

DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com

Average daily population growth in the Charleston MSA, 2017 NET DAILY IN-MIGRATION

28

+

BIRTHS MINUS DEATHS

10

Inclusive growth, 2010 - 2015 According to Brookings Metro Monitor 2017, the Charleston MSA was one of only four of the 100 largest metros in the U.S. that achieved growth, prosperity and inclusion that benefited a majority of workers of all races and ethnicities.

Charleston’s overall rank on inclusion: 8th

7.3%

5.9%

Employment rate growth

TOTAL POPULATION GROWTH PER DAY

Change in relative poverty*

Percent change in the employment rate by race 6.3%

White Black Hispanic Asian Other

-16.9%

38

-7.9%

Median wage growth

-8.0%

11.9% 12.9%

Percent change in median wage by race White Black Hispanic Asian Other

3.0% 11.9% 24.4% 78.8% 27.7%

Percent change in relative poverty by race*

-9.6% -3.3% -6.2%

-18.0% -28.4% Source: Charleston Regional Development Alliance

White Black Hispanic Asian Other

* A negative number means reduction in poverty Source: Brookings Metro Monitor 2017

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DEMOGRAPHICS AND ECONOMIC DEVELOPMENT

47

2016 per capita personal income THE TREND:

CHARLESTON COUNTY LEADS THE WAY Not only does Charleston County have the highest per capita income in the tri-county area, it also is growing at the fastest rate.

Percentage growth 2014 - 2016

7.8% 6.1%

Charleston

If you make $45,000 a year in the Charleston MSA, here's what you would need to earn to live similarly in these cities:

$50K

Charleston MSA $45,000

$45K

THE TREND:

U.S. Average

CHARLESTON IS EXPENSIVE

$44K

Your money would go further in other major metropolitan areas throughout the Southeast. This shows salaries are not keeping up with the price of living.

$45K $43K

$42,791

$42,575

7.2% 5.0% 6.9%

South Carolina Dorchester Berkeley

2014

2015

2016

$40K

$35K

$30K

Source: Bureau of Economic Analysis

48

$41,968

$42K

DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com

$41K

$40K

$41,665

$41,578

Raleigh

Charlotte

$40,929

Columbia Greenville

Asheville

Atlanta

Source: CNN Money

Arts in South Carolina The arts contribute millions of dollars directly into our economy, and millions more in indirect spending. That other reason for having a rich arts culture — the pure enjoyment of it — also plays a role in our business community, attracting and retaining a deeper pool of talent from a generation of workers that expects more out of life.

$269 million It is estimated that the cluster of economic activities around the arts yields state tax revenue that amounts to ...

$9.7 billion S.C. arts-related sector adds $9.7 billion to the state’s economy through jobs, tax revenue and spending.

3.9%

of the state’s revenue base.

Cultural Districts of S.C. Rock Hill Lancaster

Spartanburg Congaree Vista

Beaufort Bluffton

Florence Greenwood

A cultural district is a geographic area that has a concentration of cultural facilities, activities and assets. It is a walkable area that is easily identifiable to visitors and residents and serves as a center of cultural, artistic and economic activity.

114,987 jobs are supported by the arts and represent ...

5.2%

... of the state’s employment base Source: S.C. Arts Commission

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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 or crda.org/economicscorecard

CHARLESTON

INDEX RANKINGS Human Capital.............................. 4th Innovative Activity.........................7th Entrepreneurial Environment.... 6th Quality of Place............................. 6th

MSA population: 761,155

20th

Advanced Industries ranking

JACKSONVILLE

INDEX RANKINGS Human Capital.............................. 8th Innovative Activity........................ 9th Entrepreneurial Environment.... 8th Quality of Place............................. 5th

MSA population: 1.5 million

76th

Advanced Industries ranking

RICHMOND

INDEX RANKINGS Human Capital.............................. 5th Innovative Activity........................ 8th Entrepreneurial Environment.....7th Quality of Place.............................. 1st

MSA population: 1.3 million

83rd

Advanced Industries ranking

AUSTIN

INDEX RANKINGS

MSA population: 2 million

9th

Advanced Industries ranking

NASHVILLE

Human Capital............................... 1st Innovative Activity........................ 2nd Entrepreneurial Environment..... 1st Quality of Place............................. 9th

INDEX RANKINGS

MSA population: 1.9 million

44th

Advanced Industries ranking

SALT LAKE CITY MSA population: 1.2 million

17th

Advanced Industries ranking

Human Capital...............................7th Innovative Activity........................ 5th Entrepreneurial Environment....2nd Quality of Place............................. 8th

INDEX RANKINGS Human Capital.............................. 6th Innovative Activity........................ 4th Entrepreneurial Environment.... 3rd Quality of Place............................. 4th

GREENVILLE

INDEX RANKINGS Human Capital.............................. 9th Innovative Activity........................ 6th Entrepreneurial Environment.... 9th Quality of Place............................. 3rd

MSA population: 885,000

25th

Advanced Industries ranking

RALEIGH

INDEX RANKINGS Human Capital..............................2nd Innovative Activity........................ 3rd Entrepreneurial Environment.... 5th Quality of Place.............................. 2n

MSA population: 1.3 million

10th

Advanced Industries ranking

SEATTLE

INDEX RANKINGS Human Capital.............................. 3rd Innovative Activity......................... 1st Entrepreneurial Environment.... 4th Quality of Place..............................7th

MSA population: 3.8 million

2nd

Advanced Industries ranking

IMPORTANT TO NOTE: Because of the time lag in data availability, this report highlights data captured from 2005 to 2016, unless otherwise noted. The most recent values are compared to a 2005 baseline and do not imply year-to-year changes.

CH

U.S. Avg.

|

75 |

|

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125

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DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com

0

175

|

125

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

|

| | |

50

120

25

N

Why is this important?

|

75

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

|

80

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Why is this important?

AUST I

|

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NV JACKSO

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105

A & R RLE ICH ST MO ON N

100

|

INNOVATIVE ACTIVITY INDEX

NASHVILLE

HUMAN CAPITAL INDEX

200

QUALITY OF PLACE INDEX

ENTREPRENEURIAL ENVIRONMENT INDEX

9L8ESTON

100

|

|

|

105 |

75 |

|

|

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50

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Highly skilled workers have more flexibility in where they choose to live and work. Affordable housing options near job centers and multimodal transit solutions are critical to the region’s sustained economic prosperity.

CH

|

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175

RI

125

|

|

Why is this important? |

|

| | |

A supportive entrepreneurial climate can attract successful startups seeking a hospitable location. Small business growth depends on the continued growth of advanced industries.

120

25

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95|

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NASHVILLE SEATTLE

U.S. Avg.

120 E

CH

100

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CHAR

200

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DEMOGRAPHICS AND ECONOMIC DEVELOPMENT

51

Charleston’s commuting patterns Berkeley County

Charleston County

THE TREND:

LONG DISTANCE COMMUTES BRING TRAFFIC

Dorchester County

28,889

Commute into Berkeley County

17,265

Commute into Dorchester County

The daily traffic woes many endure on I-26 and I-526 stem from the 108,976 commuting into Charleston County from another county.

The high cost of living forces many people to live far from where they work.

57,655 Commute out of Berkeley County

48,972

28,889

Commute out of Dorchester County

81+19

28,889

81% of all workers in the Charleston region drive alone to work.

108,976 Commute into Charleston County

43,847

Commute out of Charleston County Sources: 2017 Regional Economic Scorecard, U.S. Census Bureau

52

DEMOGRAPHICS AND ECONOMIC DEVELOPMENT | www.charlestonbusiness.com

Automotive industry in S.C. Tens of thousands of jobs and millions of dollars in economic activity depend on the automotive industry in South Carolina. The sector’s statewide ripple effect includes companies such as Mercedes-Benz Vans, Volvo Cars, BMW, Michelin and Bridgestone, along with other smaller companies that supply and serve the industry with products, services, raw material and talent.

Driving the economy

Automotive and aerospace manufacturing represents hundreds of thousands of jobs across the Southeast. The National Association of Manufacturers follows each state’s workforce in manufacturing.

#1 in the export sales of both tires and completed passenger vehicles

Jobs in manufacturing

Manufacturing accounts for more than 230,000 jobs in South Carolina, which is 11.7% of the state’s workforce.

$8.7 billion

20,220

in capital investment from 2011 to 2017

State Manufacturing jobs

North Carolina

jobs added in automotive from 2011 to 2017

460,200

Georgia

385,700

Florida

354,200

Tennessee

Alabama

341,500 261,700

South Carolina

239,500

Virginia

229,800

Mississippi

143,100

Average annual wages in manufacturing

158,000

people in the automotive industry workforce

Manufacturing wages in South Carolina are the highest among Southeastern states. At less than $40,000 a year, nonmanufacturing wages in S.C. lag the U.S. average by more than 38%.

More than 400 automotive-

State

Average pay % to overall

S. Carolina

related companies call S.C. home.

$71,123

+78.4%

Tennessee $69,260 +61.8%

4x – Over the past two

decades, the size of South Carolina’s automotive industry has quadrupled

N. Carolina

$68,975

+58%

Virginia

$68,907 +38.3%

Georgia

$68,183 +49.5%

Florida

$67,089 +64.2%

Alabama

$65,216 +64.3%

Mississippi $59,553 +74.4% Source: S.C. Department of Commerce

www.charlestonbusiness.com |

Source: National Association of Manufacturers

DEMOGRAPHICS AND ECONOMIC DEVELOPMENT

53

Education Disparities among wage-earners with college degrees in the Charleston region show a gap between earning and spending power that’s different among the three counties. More education equates to higher wages in Charleston County compared to Dorchester and Berkeley counties, even though data show workers with less education make more in Berkeley and Dorchester counties than less-educated workers in Charleston County.

FAST FACTS

$479,681,169

$10,186

Total state lottery expenditures for education

Average per-pupil spending among the

in the Charleston metro region last year.

region’s four school districts, a 1.3% decrease.

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EDUCATION | www.charlestonbusiness.com

Charleston-area school districts Berkeley County School District

229 E. Main St. Moncks Corner, SC 29461 www.bcsdschools.net Grades PK-12 Superintendent: Eddie Ingram Board Chair: Sally Wofford No. of Schools.......................................... 43 No. of Teachers....................................2,125

Charleston County School District

Dorchester School District 2

75 Calhoun St. Charleston, SC 29401 www.ccsdschools.com Grades PK-12 Superintendent: Gerrita Postlewait Board Chair: Kate Darby No. of Schools...........................................82 No. of Teachers.................................. 3,384

Dorchester School District 4

115 Devon Road Summerville, SC 29483 do.ddtwo.org Grades PK-12 Superintendent: Joseph Pye Board Chair: Tanya Robinson No. of Schools...........................................24 No. of Teachers...................................1,580

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............................................. 6 No. of Teachers.......................................173

Four-year graduation rate – Berkeley

– Charleston

– Dorchester District 2

– Dorchester District 4 87.8%

85.9%

85%

86.0%

85.8%

84.6%

84.2% 83.1%

80%

87.4%

83.8% 83.8%

82.9% 81.6%

80.3% 80.3%

83.5%

81.7%

75%

70%

56

EDUCATION | www.charlestonbusiness.com

2014

2015

2016

2017 Source: S.C. Department of Education

Per-pupil expenditure, 2016-2017

Student enrollment, 2016-2017 48,582

50,000 40,000

$11,000

34,317

30,000

$12,840

$13,500

$10,546 $9,073 $8,284

$8,500

26,045

20,000

$6,000

10,000

$3,500

3.0% increase

-7.5% decrease

5.8% increase

-3.0% decrease

Berkeley

Charleston

Dorchester 2

Dorchester 4

from 2015-2016

from 2015-2016

from 2015-2016

from 2015-2016

2,288 Berkeley

Charleston

Dorchester 2

Dorchester 4

Average SAT scores, 2017

Average teacher salary, 2016-2017

1,200 1,100

$50,000

1067

1089

1069

$44,000

800

$42,000

Charleston

Dorchester 2

2.9% increase

Berkeley

$48,561

$48,415

6.6% increase

2.2% increase

2.6% increase

Charleston

Dorchester 2

Dorchester 4

$46,000

900

Berkeley

$49,249

$48,000

973

1,000

$48,942

Dorchester 4

from 2015-2016

from 2015-2016

from 2015-2016

from 2015-2016

Source: S.C. Department of Education

www.charlestonbusiness.com |

EDUCATION

57

Regional Education Report: Chapter 4 Community basics and disparity gaps

As a community-wide movement, Tri-County Cradle to Career Collaborative spent the last five years analyzing the state of education. Annually, the Tri-County Cradle to Career Collaborative’s Regional Education Report benchmarks how well students are progressing by using data to understand where we are now, where we are going and what needs to be done to ensure every child is prepared for college or career. Below are excerpts from the 2018 Regional Education Report: Chapter 4 - Constructive Disruption

Population with a high school diploma or higher

To view the entire report go to www.tricountycradletocareer.org

All tri-county 89%

85%

on-time graduation rate

All tri-county

Black

Hispanic

White

Population

761,155

196,498

41,107

488,329

Number of public school students

112,141

38,328

10,453

55,987

Number of children under the age of 5

47,274

12,704

4,358

28,772

Number of children (0 to 18) in poverty

30,886

15,200

3,236

8,023

Black

Hispanic White

81%

67%

93%

On-time high school graduation rate Black

Hispanic

White

40% of students ready for college-level work

81%

All tri-county

75%

88%

65% of students ready for a career Sources: S.C. Department of Education, District Report Cards; ACT composite scores; and ACT WorkKeys test results

58

EDUCATION | www.charlestonbusiness.com

Population with a bachelor’s degree or higher

Black

35%

16%

Hispanic White

17% 42%

Sources: S.C. Department of Education; U.S. Census Bureau, SAIPE State and County Estimates for 2016; U.S. Census Bureau, 2016 American Community Survey 1-Year Estimates and 2012-2016 American Community Survey 5-Year Estimates

Annual college tuition costs

For selected S.C. public colleges and universities.

- 2008—2009

CLEMSON UNIVERSITY

- 2017—2018

$10,608

$14,712

$11,731

MUSC**

USC COLUMBIA*

$8,838 $8,428

THE CITADEL

COLLEGE OF CHARLESTON

$8,400

COASTAL CAROLINA

$8,650 $7,806

SC STATE TRIDENT TECHNICAL COLLEGE

$3,330 $0

$2,000

$4,280 $4,000

$6,000

- percentage change

$13,917

$12,262

39%

$12,626

50%

$11,998 $11,200 $10,740

39% 19%

Through FY 2016-2017

BERKELEY $24,150,419

65,860

$597,040

$95,867,439

K-12

Library totals

43%

118,349

$997,682

$194,453,419

K-12

30%

Library totals

38%

$12,000 $14,000

Scholarship amounts

$46,434,434

Scholarship awards Scholarship amounts

DORCHESTER $21,962,944

58,693

$491,920

$94,482,970

K-12 $10,000

Scholarship awards

CHARLESTON

29% $8,000

Cumulative distribution of net lottery proceeds

$16,000

Source: SC Commission on Higher Education for public universities *Excludes medicine, law and pharmacy **Excludes medicine, dentistry and pharmacy; includes nursing and health professions only

Library totals

Scholarship awards Scholarship amounts Source: S.C. Education Lottery

www.charlestonbusiness.com |

EDUCATION

59

Educational attainment The highest wage-earners in the Charleston region hold a college degree or higher, but the disparity between a bachelor’s degree among the three-county region shows 49% more Charleston County workers have undergraduate college degrees than the average of Dorchester and Berkeley counties. High school dropout rates tend to hover around 10% for all three counties.

3+7+221982714 3+8+312511157 3+7+282511179

3.1%

Less than 9th grade

14.6%

Graduate or professional degree

CHARLESTON COUNTY

26.5%

266,019

8.1%

19.3%

Associate’s degree

7.8%

3.5%

Less than 9th grade

Graduate or professional degree

Some college, no degree

2.8%

9.5%

Less than 9th grade

Graduate or professional degree

8.3%

15.2%

Bachelor’s degree

9th to 12th grade, no diploma

BERKELEY COUNTY

10.2%

Associate’s degree

DORCHESTER COUNTY

16.9%

Bachelor’s degree

Population 25 years and over:

Population 25 years and over:

30.5%

130,343

High school graduate (includes equivalency)

21.7%

High school graduate (includes equivalency)

Population 25 years and over:

Bachelor’s degree

6.7%

9th to 12th grade, no diploma

97,867

10.7%

Associate’s degree

7.3%

9th to 12th grade, no diploma

28%

High school graduate (includes equivalency)

24.8%

24.5%

Some college, no degree

Some college, no degree

Source: U.S. Census Bureau American Community Survey five-year estimates, 2016

Median Earnings in the past 12 months in 2016 inflation-adjusted dollars

Berkeley

Population 25 years and over with earnings

$70K

BERKELEY COUNTY $35,861

$60K $50K $40K $30K

$46.1K $47.7K $49.2K

$59.6K $60.8K $53.7K

$10K

$34.3K $31.1K $33.6K

$20K

$30.1K $26.0K $30.8K

DORCHESTER COUNTY $36,161

Dorchester

$21.5K $18.1K $21.2K

CHARLESTON COUNTY $36,709

Charleston

Less than high school graduate

High school graduate (includes equivalency)

Some college or associate’s degree

Bachelor’s degree

Graduate or professional degree

Source: American Community Survey Five Year estimates for 2016 (US Census)

60

EDUCATION | www.charlestonbusiness.com

Total R&D expenditures

Enrollment analysis

At universities and colleges in S.C. (dollar amounts are in thousands)

Top 3 R&D universities in South Carolina

$300,000

100,000 90,000

98,318

97,584

-3.6%

95,744

% change of 2017 over 2008 86,315

84,270

82,770

81,227

60,491

62,103

80,000

$200,000

70,000 $243,534

$260,098

$207,306

2015

2016

2014

$210,716

$242,594 2014

$210,782

$183,965

2015

$171,215

2016

MUSC

Clemson University

2016

$161,070 2014

$100,000

2015

$150,000

60,000 50,000

48,333

Benedict College

Claflin University

Coastal Carolina Univ.

Furman University

College of Charleston

$13,147 $12,607 $13,076 2016

2015

SC State University

Source: National Center for Science and Engineering Statistics

53,313

54,787

56,042

59,414

28.5%

% change of 2017 over 2008

ENROLLMENT DROPPING IN TECHNICAL COLLEGES When the recession took hold in 2008, students started to enroll in technical colleges at an increasing rate. Tech schools experienced a 16.7% growth from 2008 to peak enrollment in 2011.

20,000 10,000 0

2014

2016

2016

2015

$1,600 $1,928 $1,869 2014

2016

$2,166 $1,862 $1,779 2014

2015

2016

2015

$1,818 $1,255 $1,772 2014

2016

$2,479 $1,373 $1,653 2015

2014

$6,000

2014

$8,000

2015

$10,034 $10,607 $10,189

$10,000

51,608

57,726

THE TREND:

30,000

$12,000

50,106

40,000

USC

$14,000

$2,000

97,420

91,726

$250,000

$4,000

94,434

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

- Technical Colleges: Totals from Aiken Technical College, Central Carolina Technical College, Denmark Technical College, Florence-Darlington Technical College, Greenville Technical College, Horry-Georgetown Technical College, Midlands Technical College, Northeastern Technical College, Orangeburg-Calhoun Technical College, Piedmont Technical College, Spartanburg Community College, Technical College of The Lowcountry, Tri-County Technical College, Trident Technical College, Williamsburg Technical College, and York Technical College – Research Institutions: Totals from U.S.C.-Columbia, Clemson University, and MUSC Source: S.C. Commission on Higher Education

www.charlestonbusiness.com |

EDUCATION

61

Import, Export and Distribution The Port of Charleston broke its fiscal-year record for the number of containers the Charleston waterfront handled during 2017-2018. While the 2.2 million 20-foot-equivalent containers represented an all-time record for the port, the year-to-year increase was nearly 3%. The Port of Charleston also saw a 4% increase in total pier container moves.

FAST FACTS

232,075

$38.7 BILLION

Number of autos moved through the port during the

The Charleston metro region’s annual

last fiscal year, a 10.3% decrease from 2016-2017.

gross domestic product for 2016.

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IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

S.C. State Ports Authority, FY2018 Historical pier container volumes 1,400

1,208

Pier Containers (in thousands)

1,200

1,134

1,000

958

800

1,130

1,076

1,095

987

1,251

1,097

957 973 782

867

803

822

890

741

600

THE TREND:

RECORDBREAKING YEAR

400

The port continued its growth since the recession and broke an all-time record in FY2018.

200 11%

3%

15%

0%

-5%

-10%

-20%

-5%

8%

2%

8%

8%

14%

0%

10%

4%

FY2011

FY2012

FY2013

FY2014

FY2015

FY2016

FY2017

FY2018

0 FY2002 FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010

Vehicles moving through the port

Greer Inland Port moves

= 10,000 vehicles

FY2017

258,804

140,000

232,075 -10.3% FY2018

from FY2017

THE TREND:

121,761 117,812

120,000

91,698

100,000 80,000

58,407

60,000 40,000 20,000 0

19,512

FY2014

199%

57%

33%

-3%

FY2015

FY2016

FY2017

FY2018

VEHICLE SHIPMENTS DOWN BMW has been reconfiguring its line to prepare for production of a new vehicle. That has caused a slow-down in the current rate of production. This has also caused a drop in moves at the Greer inland port.

Wando Terminal Refurbishment Project

• Total $370 million project completed at end of 2019 • Adding about 700,000 TEU (twenty-foot-equivalent units) of capacity to existing site Following features once completed: • 13 STS cranes (nine with 155 feet of lift height) • 3,800 feet of wharf that can handle three new Panamax ships • 40 Gates (27 inbound and 13 outbound) • New 35-acre chassis yard • Enhanced traffic flow pattern

64

IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

Source: S.C. State Ports Authority

Distribution and logistics in South Carolina

$1.2 billion

Announced capital investments by transportation, distribution and logistics (TDL) firms in S.C., 2011-2017

113,000 South Carolinians employed in the TDL business

$3 million In cargo handled every hour 208 million People within two days’ drive

by the Port of Charleston

of South Carolina

41,000 Miles of

state-maintained highways

66

IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

2,300 Miles of rail

Source: S.C. Department of Commerce

Gross domestic product by metropolitan area, 2007 - 2016

2007 GDP

Percentage change from 2007-2016

2016 GDP

36.3%

54.4%

$70B $60B $50B

32.3%

38.4%

48.3%

$40B $30B

35.4%

37.9%

$51.7B $79.8B

$29.4B $40.7B

$59.2B $80.7B

$30.3B $40.1B

$13.0B $17.6B

Asheville, N.C.

$26.1B $38.7B

$10B

$18.2B

$20B

$13.2B

Measured in Billions of US Dollars

$80B

Charleston

Raleigh, N.C.

Greenville

Richmond, Va.

Columbia

Savannah

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

www.charlestonbusiness.com |

IMPORT, EXPORT AND DISTRIBUTION

67

South Carolina importing and exporting TOP 5 COUNTRIES SENDING IMPORTS TO S.C., 2017 Germany

4.2%

from 2016

China

11.6%

from 2016

$8B $7B

Mexico

7.1%

from 2016

$6.92B

$2B

-14.4%

Canada

-2.8%

from 2016

9.2%

from 2016

from 2016

Germany

-2.4%

from 2016

Mexico

23.1%

from 2016

$6.41B $6.87B

UK

-19.4%

from 2016

$6.23B

$6B

$6.62B $5.53B

$5.86B

$5B $4.87B

$5.93B

$4.23B

$5.0B

$2.22B $2.47B

$4B $3.73B $3.63B $2.85B $2.41B

$3.44B $2.80B $2.62B

$3.40B $2.94B

$3.64B

$2.82B

$1.53B

2013

2014

2015

2016

$1.31B

2017

IMPORT, EXPORT AND DISTRIBUTION | www.charlestonbusiness.com

$3.87B $3.6B

$3B $3.18B $2B $1.84B

$1.91B

Source: U.S. Census Bureau

68

China

$7B

$7.15B

$1B 0

-4.1%

from 2016

$6.59B

$4B $3B

Japan

$7.47B

$6B $5B

Canada

TOP 5 COUNTRIES RECEIVING EXPORTS FROM S.C., 2017

$1B 0

$4.4B $3.91B $3.7B $2.84B

$2.12B

$3.74B $3.47B $2.84B

$2.45B

$2.12B

2015

2016

$3.79B $3.65B $2.61B $2.29B

$1.86B

$1.36B

2013

2014

2017

Source: U.S. Chamber of Commerce

How tariffs could impact South Carolina’s economy $3.01 billion 579,300 An analysis by the U.S. Chamber of Commerce found that new tariffs imposed by the United States on China, the European Union, Mexico and Canada could threaten $3 billion in S.C. exports, including passenger vehicles, steel products and iron products.

South Carolina would be among the hardest hit states, according to the analysis, though Washington stands to lose the most, with $6.2 billion of state exports threatened.

South Carolina jobs supported by trade

Total state exports threatened by new tariffs

Total exports to Canada threatened by new tariffs:

Total exports to EU threatened by new tariffs:

$287.2 million

Combined refrigerator -freezers with separate doors:

$49.7M

Handkerchiefs, tissues & towels of paper pulp, etc:

$31.5M

Mowers for lawns, parks, etc:

Articles of iron or steel:

$15.1M

$30.6M

Others bars and rods stainless steel:

$7.7M

Motorboats, other than outboard motorboats:

$3.9M

Total exports to China threatened by new tariffs:

Total exports to Mexico threatened by new tariffs:

Passenger vehicle, 1500 to 3000 cc:

Flat-rolled alloy steel, plated:

$2.57 billion

r-made vehicles any of its Gree BMW exports m of Charleston. (Photo/Ryan rt through the Po Wilcox)

$37.3 million

$1.89B

Passenger vehicle, over 3000 cc:

$459M

Gear boxes for motor vehicles:

$109.2M

$117.1 million

$25.2M

Flat-hot-rolled iron, non-alloy steel, coil:

$18.6M

Iron, non-alloy steel, coil 3mm to 4.75Mm:

$12.5M

Source: U.S. Chamber of Commerce

www.charlestonbusiness.com |

IMPORT, EXPORT AND DISTRIBUTION

69

Hospitality and Tourism Charleston’s tourism economy represents $4.2 billion of South Carolina’s $21 billion tourism industry, data from the College of Charleston’s School of Business show. The region’s robust hospitality market and national exposure by major travel publications and positive reviews continue to drive one of the highest-visibility sectors in the state.

FAST FACTS

$54,000,000

1

Money represented by the ripple effect from

The tourism industry supports one out

visits to federal historic sites in the region.

of every 10 jobs in South Carolina.

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HOSPITALITY AND TOURISM | www.charlestonbusiness.com

Tourism economic impacts in the Charleston area, 2016-17 TOTAL ECONOMIC IMPACT $5B

ESTIMATED ANNUAL NUMBER OF VISITORS 6M

PERCENTAGE GROWTH FROM 2012-2016

46+54

5.15M

46%

$4B

5.44M

$4.22B

$3.68B

5M

$3.34B

4.76M

4.90M

4.50M

PERCENTAGE GROWTH FROM 2012-2016

$3.14B

4M

$3B

$2B

2012

2013

2014

2015

2016

3M

21+79 21%

$2.89B

2012

2013

2014

2015

2016

AVERAGE DAILY EXPENDITURES PER DAY, PER ADULT

Accommodations

$111

Dining/Food

$51

Local Transportation

$16

Tours/Attractions

$33

Shopping

$50

Other Expenses

$25

Source: College of Charleston Office of Tourism Analysis

72

HOSPITALITY AND TOURISM | www.charlestonbusiness.com

South Carolina tourism report

$ $ $ $ $ $21.2 $$ $ $ $

Local efforts boosting tourism

Palmetto State tourism in 2016

billion industry

Even greater growth expected for 2017, making it fifth consecutive year of tourism expansion in the state

Hotel revenue in 2017

6.2% over 2016

$

Supports one in every 10 jobs in the state

The August 2017 total solar eclipse

Generates $1.6 billion in state and local taxes

The UCI BMX World Championships in Rock Hill

Business in 2016 grew 4.7% over 2015

Postseason NCAA tournaments in Greenville and Columbia

Since 2012, RevPAR has increased by more than 41%

Golf Tourism Solutions showed a 4.1% increase in number of rounds played at member courses on the Grand Strand

(Revenue per available room, considered to be the most reliable measurement of tourism’s impact on S.C.)

(outpacing growth average in U.S. and South Atlantic region)

Film production such as the DirectTV series “Mr. Mercedes” and the new “Halloween” movie Source: S.C. Department of Parks, Recreation and Tourism

www.charlestonbusiness.com |

HOSPITALITY AND TOURISM

73

National Park Service visitor data, 2017

Visitors to federal historic sites brought in more than $54 million in 2017 to surrounding communities in the Charleston area. The economic study found Fort Sumter National Monument off the coast of Charleston’s peninsula and the Charles Pinckney National Historic Site in Mount Pleasant brought in nearly 1 million visitors. The spending from the two sites helped support 768 jobs in the Charleston area and represented a cumulative $67.7 million influx of cash to the local economy, the park service found.

3.0%

Camping

3.4%

Transportation

5.4%

Groceries

8.9%

Recreation

12.0% Retail

31+23+13129543

HOW VISITORS SPENT MONEY IN 2017

Hotels

22.7%

13.3%

Gasoline

Source: National Park Service

74

31.3%

HOSPITALITY AND TOURISM | www.charlestonbusiness.com

Restaurants

The Charle s Pinckney house is lo on Long Po cated int Road in M ount Pleas (Photo/An ant. dy Owens)

The economic impact of weddings in the Charleston MSA, 2017

5,805

$159,474,960

Number of weddings

Amount spent

$27,472 Average wedding cost

$68

Hair service

$55

Makeup service

$415

Wedding Cake/dessert

$1,244

Wedding dress

$348 $479

Bouquets

$213

Tuxedo rental

$152

$1,586

Wedding photographer

Boutonnieres, corsages

$449

Wedding ring for him

$3,359

Engagement ring

Limo rental

$772

Wedding ring for her

www.charlestonbusiness.com |

Source: The Wedding Report Inc., 2017

HOSPITALITY AND TOURISM

75

South Carolina craft breweries

$650 Million Economic Impact, 2017

108,211

Barrels of craft beer produced per year Ranks 34 in U.S.

Ranks 28 in U.S.

Number of craft breweries operating per year

The Pint Law

increased the amount of beer a person could consume at a brewery per day from 4 tasting glasses to 48 ounces.

16

16

2011

2012

20 2013

Ranks 41st in U.S.

Two more bills signed

The first allows craft breweries to donate their product to charities and provides that brewers can participate in nonprofit events by pouring their beverages and providing equipment. The second bill allows breweries to sell liquor, which helps brewpubs planning to distribute their product.

The Stone Law

allowed breweries to sell more than 3 pints of beer per customer if the brewery has a food service permit from the S.C. Department of Health and Environmental Control.

Gallons per 21+ Adult

th

th

One of the drivers of the expansion of the craft beer industry in S.C. has been the passage of bills by the state legislature that favor the industry.

0.9

50

36

31

2014

61

2015

2016

2017 Source: Brewers Association

2017 Solar Eclipse — by the numbers $16.6 million

Economic impact on Charleston.

27,400

Additional people stayed at Charleston hotels the night before the eclipse.

3,400

$269 million

bringing in about $830,750 for hosts.

across South Carolina.

people used Airbnb during the eclipse,

lar ton to witness the so in downtown Charles re ua Sq n rio Ma on r People gathe se) 17. (Photo/Ashley Sprou eclipse on Aug. 21, 20

Sources: Office of Tourism Analysis at the College of Charleston S.C. Department of Parks, Recreation and Tourism

76

HOSPITALITY AND TOURISM | www.charlestonbusiness.com

total economic impact

Medical and Health Care South Carolina and the Charleston metro area continue to struggle with access to health care and other related issues, including persistent medical challenges such as heart disease, cancer, diabetes and prenatal care. However, in 2017, the state saw positive gains in the number of obese adults, preventable hospitalizations and infant mortality.

FAST FACTS

616

-51%

Number of deaths from opioid abuse in South

Decrease in South Carolina for children

Carolina in 2016, mostly in larger counties.

without health insurance, compared to 2010.

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Opioid crisis in South Carolina Most deaths from abuse of opioids in South Carolina occur among white men and women between the ages of 35 and 54. The governor’s office has instituted rules about prescribing drugs for patients by doctors to try and curb the abuse of painkillers across the Palmetto State.

Drug overdose deaths by intent, 2007-2016 Suicide by drug overdose

900

Unintentional by drug overdose deaths

Total S.C. drug overdose deaths

789

800 700 544

500

445

569 485

718

679

617

600

577

547

587

573

489

478

528

52.3%

that’s the percentage increase in drug overdose deaths from 2012-2016.

This rapid increase is being fueled by unintentional drug overdoses.

200 79

74

64

2007

2008

2009

91

85

80

74

74

66

76

2010

2011

2012

2013

2014

2015

2016

Opioid deaths by race/sex, 2016 3% 4%

black and other female

35%

Opioid deaths by age, 2016 153

black and other male

101

50

58% white male

152

136

white female

19 5 0-17

80

THE TREND:

DEATH BY DRUG OVERDOSE IS RISING

300

0

785

713

629

613

400

100

876

18-24 25-34 35-44 45-54 55-64

65+

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

MEDICAL AND HEALTH CARE | www.charlestonbusiness.com

Deaths from opioid overdose by county, 2016 South Carolina data show that, contrary to popular belief, the opioid abuse problem results in more deaths in larger, more-populated counties than in rural areas.

Horry, Charleston and Greenville counties, respectively, accounted for the highest number of deaths from opioid drug abuse in 2016. Twelve counties, all of them smaller and mostly rural, had one or no deaths from opioid drug abuse, the data show.

Number of deaths 0-5 6 - 10 11 - 25 26-50 51-101

Cherokee

Greenville

53 Spartanburg 10 36

Pickens Oconee

25

York

42

Union

10

Chester

2

Anderson

Laurens

20

10

Abbeville

2

7

McCormick

0

0

42

Lexington

33

Edgefield

Florence

15

6

3

3

Orangeburg Barnwell

1

Bamberg

0

Allendale

0

Hampton

0

Jasper

3

Marion

4

Horry

101

Clarendon Williamsburg

0

23

2

Sumter

Dillon

3

Darlington Lee

Calhoun

Aiken

1

0

Richland

Saluda

Marlboro

6

Kershaw

0

2

2

0

5

Fairfield

Newberry

Greenwood

Lancaster Chesterfield

1

Georgetown

27

4

Dorchester

4

Colleton

8

Berkeley

26

Charleston

65

Beaufort

8

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

www.charlestonbusiness.com |

MEDICAL AND HEALTH CARE

81

S.C. ranks 38th in national survey of child well-being A decrease in the number of children without health insurance helped South Carolina achieve its highestever ranking in an annual nationwide survey of child well-being, though data shows the state continues to struggle with education issues. South Carolina ranked 38th in the nation in the Annie E. Casey Foundation’s 2018 Kids Count Data Book report. The state ranked 36th in children’s health, with 4%, or 44,000 of its 1 million children, without health insurance. This represents a 51% decrease in that number since 2010. Those numbers were in line with nationwide figures. Four percent of children, or 3.3 million, across the country lacked health insurance in 2016 — 2.6 million fewer than in 2010.

– Berkeley

– Charleston

– Dorchester

ECONOMIC WELL-BEING

Children 0-17 in households with incomes below the poverty level, 2015

EDUCATION

18.7%

Rank

3

22.9%

Owner-occupied housing where household spends at least 30 percent of their income on housing, 2011 - 2015

11

25.2%

24.4%

26.2%

4

6.9%

7.6%

7.4%

8.3%

8

6

12

23.1%

9.2%

59.0% 58.9%

8.9%

34 42 38

Third graders testing below state standards in reading, 2015 63.8%

4.7%

66.7%

Eighth graders testing below state standards in math, 2015 71.6% 63.3% 61.8%

7.1%

9.1%

8.5%

19 10 22

67.9%

Dropouts as a percentage of the total enrollment for grades 9-12, 2014-2015

4.7%

2.8%

Rank in U.S. South Carolina............................41

Teens age 16-19 not enrolled in school and not working, 2011 - 2015

18.8%

Cumulative percent of children failing grades 1, 2, or 3, 2015

Rank in S.C. Berkeley County........................14 Charleston County..................... 7 Dorchester County.....................3

2.3%

2.7%

2.3% 1.2%

Rank

HEALTH

Own children living in families where no parent is in labor force, 2011-2015

29.3%

Rank in S.C. Berkeley County......................... 11 Charleston County...................18 Dorchester County...................15 Rank in U.S. South Carolina...........................34

– South Carolina

29

9

7

17

Low-birthweight babies, 2015

3

19

2

Infant mortality rate per 1,000

9

Child deaths, ages 1-14, rate per 100,000, 2015

6

Teen deaths, ages 15-19 per 100,000, 2015 102.5

20.4

7.0

Rank in S.C. Berkeley County......................... 11 Charleston County...................21 Dorchester County.....................6

22 31

8

17.9 9.2% 9.7%

8.5%

9.5%

5.1

5.0

5.0

68.1

63.6

10.4

10.0

48.4

11

21 10

26 35 20

Rank in U.S. South Carolina...........................36 Rank

FAMILY AND COMMUNITY

82

13

12

Children living in single parent families, 2011-2015

36.8%

Rank

7

42.2%

14

36.7%

41.5%

6

11

11

Families where householder lacks a Children living in concentrated areas high school diploma, 2011-2015 of poverty, 2011-2015 9.6%

Rank in S.C. Berkeley County..........................5 Charleston County.....................9 Dorchester County......................1 Rank in U.S. South Carolina............................37

16 18

11.8%

8.9%

5

2

26.1

16.5%

7.3%

7

Births to teens 15 to 19 years of age per 1,000, 2015

14.1%

1.2%

9

27

0.0%

1

22.5

16.6

9

2

21.4

6

Source: Children’s Trust of South Carolina

MEDICAL AND HEALTH CARE | www.charlestonbusiness.com

S.C. health care rankings Affordable Care Act Numbers show S.C.’s ranking among 50 states. No. 1 is best, No. 50 is worst.

Adults with diabetes

2017 2016 2015 2014

Adults who binge drink

2017 2016 2015 2014

Obese Adults

2017 2016 2015 2014

Adults with high cholesterol

2017 2016 2015 2014

Infant deaths per 1,000 live births

2017 2016 2015 2014

Preventable hospitalizations

2017 2016 2015 2014

0

45th 38th 41st 41st

44

25th 11th

15th

th

S.C. overa rank in U ll .S.

14th

39th 42nd 47th 47th

42nd 20th 20th 20th 36th 43rd 43rd 47th 18th

36th 42nd 44th

10

20

30

40

50

Source: America’s Health Rankings, United Health Foundation

S.C. figures for the November 2017-December 2017 enrollment period.

215,983

29+71

TOTAL MARKETPLACE USERS

71%

RE-ENROLLEES

29%

NEW CUSTOMERS

202,261

INDIVIDUALS DETERMINED ELIGIBLE TO ENROLL WITH FINANCIAL ASSISTANCE* *ALL OF THESE MAY NOT HAVE ENROLLED

Source: Center for Medicare and Medicaid Services

www.charlestonbusiness.com |

MEDICAL AND HEALTH CARE

83

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

775,831

+55.6%

Number of residents living in the

Over 15 years, Dorchester County saw the

Charleston region at the end of 2017.

largest percentage of population growth.

CHARLESTON REGIONAL COMPETITIVENESS CENTER

CHARLESTON REGIONAL COMPETITIVENESS CENTER

SECTION SPONSOR

84

BUSINESS RESOURCES | www.charlestonbusiness.com

BUSINESS SERVICES AND TRADE ASSOCIATIONS NATIONAL U.S. Patent and Trademark Office Madison Building, 600 Dulany St. Alexandria, VA 22314 Customer Service: 571-272-1000 www.uspto.gov U.S. Copyright Office 101 Independence Ave. S.E. Washington, DC 20559-6000 877-476-0778 www.copyright.gov Bar-coding & Universal Product Code (UPC) GS1 US Princeton Pike Corporate Center 1009 Lenox Drive, Suite 202 Lawrenceville, NJ 08648 609-620-0200 www.gs1us.org

86

STATE, REGIONAL Associated Builders and Contractors Inc. Carolinas Chapter 610 Minuet Lane Charlotte, NC 28217 704-367-1331 www.abccarolinas.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 Apartment Association P.O. Box 13268 Charleston, SC 29422 843-722-7585 www.charlestonapartmentassociation.com

BUSINESS RESOURCES AND GOVERNMENT | www.charlestonbusiness.com

Charleston Business Leads Association 434 King St. Charleston SC 29403 thecbla.org

Charleston Women in International Trade P.O. Box 20145 Charleston, SC 29413 www.cwitsc.org

Charleston Defense Contractors Association P.O. Box 61089 Charleston, SC 29419 843-900-7386 www.charlestondca.org

Coastal Community Foundation 635 Rutledge Ave., Suite 201 Charleston, SC 29403 843-723-3635 www.coastalcommunityfoundation.org

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

Customs Brokers & Freight Forwarders Association of Charleston 200 East Bay St. Charleston, SC 29401 843-579-6500 www.cbffac.com

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

Greater Charleston Restaurant Association 423 King St. Charleston, SC 29403 843-853-8000 www.charlestonrestaurantassociation.com

Lowcountry Local First 1630 Meeting Street Road, Building 2 Charleston, SC 29405 843-801-3390 www.lowcountrylocalfirst.org

S.C. Bar Association 950 Taylor St. Columbia, SC 29201 803-799-6653 www.scbar.org

S.C. Hospital Association 1000 Center Point Road Columbia, SC 29210 803-796-3080 www.scha.org

Maritime Association of S.C. 899 Morrison Drive Charleston, SC 29403 843-577-7678 www.maritimesc.org

S.C. Broadcasters Association 2711 Middleburg Drive, Suite 201 Columbia, SC 29204 803-732-1186 www.scba.net

S.C. Manufacturers Alliance 1340 Bull St. Columbia, SC 29201 803-799-9695 www.myscma.com

Mechanical Contractors Association of S.C. 1504 Morninghill Drive Columbia, SC 29210 803-772-7834 www.mcasc.com

S.C. Department of Health and S.C. Press Association Environmental Control 106 Outlet Pointe Blvd.

2600 Bull St. Columbia, SC 29210 Columbia, SC 29201 803-750-9561 803-898-3432 www.scpress.org www.scdhec.gov S.C. Retail Association S.C. Department of Labor, Licensing P.O. Box 5813 and Regulation Columbia, SC 29250 Synergy Business Park, Kingstree Building 800-662-7211 110 Centerview Drive scretail.org Columbia, SC 29210 803-896-4300 www.llr.state.sc.us

S.C. Association of CPAs 1300 12th St., Suite D Cayce, SC 29033 803-791-4181 www.scacpa.org

www.charlestonbusiness.com |

S.C. Restaurant and Lodging Association 1122 Lady St. Suite, 1210 Columbia, SC 29201 803-765-9000 www.scrla.org S.C. Secretary of State 1205 Pendelton St., Suite 525 Columbia, SC 29201 803-734-2170 www.scsos.com S.C. Society of Professional Engineers P.O. Box 11937 Columbia, SC 29211-1937 803-771-4271 www.scspe.org SCORE Charleston 4045 Bridge View Drive, Suite B151 North Charleston, SC 29405 843-727-4778 charlestonsc.score.org

BUSINESS RESOURCES AND GOVERNMENT

87

Together SC 400 Arbor Lake Drive, Suite B-500 Columbia, SC 29223 803-929-0399 www.togethersc.org Trident United Way 6296 Rivers Ave. North Charleston, SC 29406 843-740-9000 www.tuw.org World Trade Center Charleston 4500 Leeds Ave., Suite 100 North Charleston, SC 29402 843-577-2510 www.wtca.org/world-trade-centercharleston

CHAMBERS OF COMMERCE Berkeley Chamber of Commerce 1004 U.S. Highway 52 Moncks Corner, SC 29461 843-761-8238 www.berkeleysc.org Berkeley Chamber of Commerce promotes member businesses by providing leadership and services that create a strong business environment and high quality of life.

Charleston Metro Chamber of Commerce 4500 Leeds Ave., Suite 100 North Charleston, SC 29405 843-577-2510 www.charlestonchamber.org Serves to strengthen the region as a place to live, learn, work and play, while advancing the region’s economy, improving quality of life and supporting the success of members.

Edisto Chamber of Commerce 430 S.C. Highway 174 P.O. Box 206 Edisto Island, SC 29438 843-869-3867 www.edistochamber.com Supports membership by promoting area businesses and to the tourism industry.

The chamber represents members in our local government and provides shared resources, leads, referrals and networking opportunities.

88

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.

Mount Pleasant Chamber of Commerce P.O. Box 1635 Mount Pleasant, SC 29465 Mountpleasantchamber.org Encouraging business and community success East of the Cooper.

North Charleston Chamber of Commerce 7679 Dorchester Road, Suite 400 North Charleston, SC 29418 843-410-0321 www.northcharlestonchamber.org The chamber is a catalyst for the economic growth of members and the community through education; exchanging ideas and information, sharing experiences and solutions, networking and recognition.

S.C. African American Chamber of Commerce 2001 Assembly St. Columbia, SC 29201 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.

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.

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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 The chamber provides a voice for the economic success of South Carolina small business through services, knowledge and government advocacy.

Sea Islands Chamber of Commerce 2817 Maybank Highway, Unit 1 Johns Island, SC 29455 843-793-1234 www.seaislandschamber.org Promotes the economic growth and quality of life in the Sea Islands area by providing a clear, persuasive voice for the business community in governmental affairs on federal, state, county and local levels. The chamber promotes the Sea Islands area as an economic, educational and recreation center while providing services and networking opportunities for its members.

Tri-County Regional Chamber of Commerce 225 Parler Ave. St. George, SC 29477 843-563-8187 www.tri-crcc.com The Tri-County Regional Chamber of Commerce area focuses on advancing and stimulating economic, commercial, agricultural and industrial growth and development, promoting tourism, providing quality education and advancing civic and cultural interests.

Walterboro-Colleton Chamber of Commerce 403 E. Washington St. Walterboro, SC 29488 843-549-9595 walterboro.org The Walterboro-Colleton Chamber of Commerce provides networking events, educational programs and committees to help members grow and enhance their businesses. The chamber also provides access to pertinent information about the county to individuals, businesses and other organizations.

ECONOMIC DEVELOPMENT Berkeley County Economic Development Department 1003 U.S. 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 Corp. of S.C. 111 Executive Center Drive Enoree Building, Suite 225 Columbia, South Carolina 29210 803-798-4064 certifieddevelopment.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 technologyenabled 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 professional economic development organization representing Berkeley, Charleston and Dorchester counties, the CRDA serves 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 256A Bond Hall 71 Moultrie St. Charleston, SC 29406 843-953-7220 www.scsbdc.com The Small Business Development Center, a counseling partner of the U.S. Small Business Administration, helps people with small business startup ventures and assists in the continued growth of small businesses with funding from federal, state and private funds. Counseling

90

services are free, confidential and open to any present or prospective small business owner.Â

helps companies to grow and succeed over the long-term.

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

Lowcountry Housing and Economic Development Foundation 2106 Mount Pleasant St. Charleston, SC 29405 843-722-0596 www.lowcountryhousingfoundation.org Founded in 1997 as a 501(c)3 tax exempt organization, the foundation’s mission is to provide housing and economic development opportunities for the low to moderate-income families of Coastal South Carolina through economic development, home ownership, housing rehabilitation, job preparation and financial management training services.

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

S.C. Council on Competitiveness 1411 Gervais St., Suite 450 Columbia, SC 29201 803-760-1400 www.sccompetes.org A business-led, nonprofit organization, advancing the long-term economic competitiveness of our state, industries and citizens, the council provides economic research, support of industry

BUSINESS RESOURCES AND GOVERNMENT | www.charlestonbusiness.com

clusters and education and workforce initiatives. The council forges partnerships and recognizes that the state’s economic success requires 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 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.

S.C. Association for Community Economic Development P.O. Box 20577 Charleston, SC 29413 843-579-9855 www.scaced.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 grassroots 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 technologybased economy. SC Launch investments in and offers support services to South Carolina’s early stage, startup technology companies.

Sewee to Santee Economic Foundation Inc. 405 Pinckney St. McClellanville, SC 29458 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.

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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 North Charleston, SC 29405 843-958-4511 www.charlestoncountydevelopment.org Dedicated to recruiting new businesses, growing existing industry and improving the Charleston business climate.

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FINANCIAL ASSISTANCE Business Development Corp. of S.C. 111 Executive Center Drive Enoree Building, Suite 225 Columbia, SC 29210 803-798-4064 certifieddevelopment.org A non-bank commercial lending company established in 1958 by the state Legislature to promote business and industry within the state, the Business Development Corp. specializes in SBA 7(a) loans. Certified Development Corp. of S.C., an affiliated corporation, 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 angel investment group. The top priority of Charleston Angel Partners is to make investing simple and profitable, both

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for investors and for entrepreneurs.

Charleston Angel Partners invests in innovation to accelerate Charleston and the Southeast into the future, creating an environment of aspiration and excitement.

Charleston Local Development Corp.

2 Race St. Charleston, SC 29403 843-973-7298 www.charlestonldc.com The LDC provides small business loans, counseling and 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 in North Carolina and South Carolina. Members include residential and commercial

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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.

Alerion Ventures 105 Broad St. Charleston, SC 29401 843-637-3634 Alerion Ventures is an evergreen venture capital firm focused on early stage investments in scalable startups. Based in Charleston, SC, Alerion prefers to partner with entrepreneurs in the Southeast.

Spectrum Venture Capital 460 King St., 2nd Floor Charleston, SC 29403 843-310-8866 www.spectrumvc.com Spectrum Venture Capital was founded as the venture capital off-shoot of a single family office. Helps entrepreneurs turn their own ideas and visions into successful companies with fundraising and operational guidance.

HUMAN RESOURCES

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 more than 6,000 courses available.

S.C. Department of Employment and Workforce 1550 Gadsden St. P.O. Box 995 Columbia, SC 29201 803-737-2400 www.dew.sc.gov Maintains a statewide network of employment service offices that offer testing, counseling and job referrals and assist employers in filling jobs. The agency 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. 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, the organization provides data on careers, salaries, scholarships, education and

job opportunities, including 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

corridor’s commitment is to facilitate an environment where technology companies thrive.

to injured workers and employers in the most responsive, accurate and reliable manner possible.

TECHNOLOGY Association of Information Technology Professionals – Charleston P.O. Box 61225 Charleston, SC 29419 www.aitp.org 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 knowledgebased enterprises. In partnership with regional economic development agencies, communication infrastructure providers and the private sector, the

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Charleston Women in Tech www.charlestonwomenintech.com Charleston Women in Tech is a collaborative between Charleston’s women leaders, educators and tech professionals to connect, support and prepare women of all ages in the technology industry in Charleston.

Charleston Women in Tech seeks to achieve increased participation and achievement by women in technology through a focus on three main objectives: Education, mentorship, and creating a community for women in the Charleston area.

DIG South 637 King St. Charleston, SC 29403 charleston.digsouth.com DIG South is an annual technologyfocused, innovation-driven conference focused on entrepreneurialism and startups. The conference has a pitch session and a variety of national speakers

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who provide information, advice and mentorship to early stage companies, including how to secure capital and advance ideas, products and innovations.

The Harbor Entrepreneur Center 1505 King St. Extension, Suite 200 Charleston, SC 29405 843-972-4070 www.harborec.com The Harbor Entrepreneur Center provides mentorship for startups and early stage companies in a collaborative setting, along with co-working space in several centers across the region. The Harbor Entrepreneur Center also offers networking opportunities and provides information sessions and question and answer discussions with successful entrepreneurs.

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

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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.

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

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One Million Cups Charleston This free program encourages individuals, businesses and entrepreneurs to interact over coffee to discuss ways to create, start and grow businesses throughout the Charleston region. The weekly event is held in 180 communities across the U.S. www.1millioncups.com/charleston S.C. Assistive Technology Program (SCATP) Midlands Center 8301 Farrow Road Columbia, SC 29203 803-935-5263 scatp.med.sc.edu This federally funded program focuses on getting technology into the hands of people with disabilities. A part of the national network of technology-related assistance programs, its goal is to enhance independence, productivity and quality of life for all South Carolinians through access to assistive technology devices and services.

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

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

S.C. Information Technology Directors Association P.O. Box 12366 Columbia, SC 29211-2366 803-734-9059 scitda40.wildapricot.org A collaboration of technology to benefit South Carolina’s agencies and the citizens of the state, the association 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.

performance, SCRA was started by the S.C. 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 Carolinabased technology companies grow their business and commercial their products.

Applied research and development creates and leads teams from many industries, organizations and disciplines to develop and apply technology solutions to complex challenges for federal and corporate clients. Research and development facilities build, manage and lease state-of-the-art laboratories, advanced manufacturing facilities and secure spaces for sensitive work.

SCRA 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’

S.C. Technology Alliance 1201 Main St., Suite 2010 Columbia, SC 29201 803-748-1323 www.sctech.org A nonprofit/private public nonpartisan technology orientated Think Tank, the S.C. Technology Alliance works to develop and advance visionary economic development policies by providing opportunities for

collaboration among a diverse crosssection our state’s business, academic and legislative leaders and our states economic and community development sectors. The alliance also works to assist in identifying and developing technology workforce skills and work to create investment capital for our entrepreneurial knowledge base technology companies.

SPAWAR Systems Center Atlantic P.O. Box 190022 North Charleston, SC 29419-9022 843-218-4000 www.public.navy.mil/spawar/Atlantic A division of the Department of Navy, SPAWAR delivers high-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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Startup Grind Charleston www.startupgrind.com/charleston Startup Grind is an independent networking and informational group operating in 400 cities across the U.S. The organization holds monthly events with local entrepreneurs across the Charleston region. Many of the topics focus on entrepreneurism, startups, access to capital and how to overcome challenges faced by new business owners.

Tech After Five 1028 Johnnie Dodds Blvd.

Mount Pleasant, SC 29464 www.techafterfive.com/charleston Held at several venues across the Carolinas, Tech After Five provides monthly networking opportunities for individuals, businesses and talent looking for likeminded business, industry and colleagues in the Charleston region.

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Legislative Representatives S.C. Governor Henry D. McMaster (R) 1100 Gervais St. Columbia, SC 29201 803-734-2100 www.governor.sc.gov S.C. Lieutenant Governor Kevin L. Bryant (R) State House, 1st Floor P.O. Box 142 Columbia, SC 29202 803-734-2080 ltgov.sc.gov

U.S. SENATE Lindsey Graham (R) 290 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 Bldg.

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 – Beaufort, Berkeley, 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 843-352-7572

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STATE SENATE Sean Bennett (R) District 38 — Berkeley, Charleston and Dorchester counties 601 Gressette Building Columbia, 29201 803-212-6116 sean@bennettscsenate.com Sandy Senn (R) District 41 — Charleston and Dorchester counties 513 Gressette Building Columbia, 29201 803-212-6172 George E. “Chip” Campsen III (R) District No. 43 — Berkeley, Charleston and Colleton counties 305 Gressette Building Columbia, SC 29201 803-212-6016 campsen@scsenate.org Paul G. Campbell Jr. (R) District No. 44 —Berkeley, Charleston and Dorchester counties 205 Gressette Building Columbia, SC 29201 803-212-6410 paulcampbell@scsenate.org

STATE HOUSE OF REPRESENTATIVES Samuel Rivers Jr. (R) District 15 — Berkeley and Charleston counties 530C Blatt Building, 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 Katherine E. “Katie” Arrington (R) District No. 94 – Charleston and Dorchester counties 308A Blatt Building Columbia, SC 29201 803-212-6871

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Patsy G. Knight (D) District No. 97 – Colleton and Dorchester counties 306B Blatt Building Columbia, SC 29201 803-734-2960 knightp@schouse.org Christopher J. “Chris” Murphy (R) District No. 98 – Dorchester County 3O8D Blatt Building Columbia, SC 29201 803-212-6925 chrismurphy@schouse.org Nancy Mace (R) District No. 99 — Berkeley and Charleston counties 308A Blatt Building Columbia 29201 Sylleste H. Davis (R) District 100 — Berkeley County 414A Blatt Building, Columbia, 29201 803-212-6930 Joseph H. Jefferson Jr. (D) District No. 102 — Berkeley and Dorchester counties 304D Blatt Building 803-734-2936 jeffersonj@schouse.org Lee Hewett (R) District No. 108 – Charleston and Georgetown counties 327D Blatt Building Columbia, SC 29201 803-212-69270 David J. Mack III (D) District 109 — Charleston and Dorchester counties 328D Blatt Building Columbia, 29201 803-734-3192 William Scott Cogswell Jr. (R) District No. 110 – Berkeley and Charleston counties 330A Blatt Building Columbia, SC 29201 803-212-6950

Wendell G. Gilliard (D) District No. 111 – Charleston County 328B Blatt Building Columbia, SC 29201 803-212-6793 F. Michael “Mike” Sottile (R) District No. 112 – Charleston County Columbia, SC 29201 803-212-6925 Marvin R. Pendarvis (D) District No. 113 — Charleston and Dorchester counties 328A Blatt Building Columbia 29201 803-212-6716 Linda “Lin” Bennett (R) District No. 114 — Charleston and Dorchester counties 414D 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

Other Constitutional Offices Attorney General Alan Wilson Rembert Dennis Building 1000 Assembly St., Room 519 Columbia, SC 29201 803-734-3970 info@scattorneygeneral.com sc.gov

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

State Treasurer Curtis M. Loftis Jr. Wade Hampton Office Building 1200 Senate St., Suite 214 Columbia, SC 29201 803-734-3170 rbl@schouse.org

S.C. Department of Agriculture Hugh E. Weathers, commissioner 1200 Senate St. P.O. Box 11280 Columbia, SC 29211 803-734-2190 agriculture.sc.gov

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

Adjutant General Maj. Gen. Robert E. Livingston, Jr. 1 National Guard Road Columbia, SC 29201-4766 803-806-4217 www.scguard.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

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

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

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County Governments CHARLESTON COUNTY GOVERNMENT Charleston County Administrator Jennifer Miller 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, vice chairman 843-766-7500 hsass@charlestoncounty.org Dickie Schweers, District 2 843-513-9229 dickieschweers@tds.net J. Elliott Summey, District 3 843-958-4031 esummey@charlestoncounty.org Henry Darby, District 4 843-901-6793 henrydarby@msn.com Teddie E. Pryor, District 5 843-958-4030 tpryor@charlestoncounty.org Victor “Vic” Rawl, District 6, chairman 843-766-7334 vrawl@charlestoncounty.org

Jay Byars, District 7, chairman 843-324-6732 byarsj@gmail.com

Joshua Whitley, District 2 843-696-9094

COUNTY ECONOMIC DIRECTORS

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 GOVERNMENT Dorchester County Administrator Jason L. Ward 201 Johnston St. Kenneth F. Waggoner Building St. George, SC 29477 843-563-0100 www.dorchestercountysc.gov

Brantley Moody, District 7 843-270-2483 bmoody@charlestoncounty.org

Dorchester County Council Willie R. Davis, District 1 843-563-2739 wdavis@dorchestercountsc.gov

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

David Chinnis, District 2 843-801-2326 dchinnis@dorchestercountysc.gov

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

George Bailey, District 3, vice chairman 843-563-2314 gbailey@dorchestercountysc.gov

BERKELEY COUNTY GOVERNMENT

Larry Hargett, District 4 843-514-7135 lhargett1940@gmail.com

Berkeley County Supervisor William W. Peagler III 1003 U.S. Highway 52 Moncks Corner, SC 29461 843-719-4094 bill.peagler@berkeleycountysc.gov www.berkeleycountysc.gov

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Berkeley County Council C. Kevin Cox, District 1 843-998-0443

Con Chellis, District 5 843-832-0196 conchellis4@gmail.com William R. “Bill” Hearn Jr., District 6 843-442-5787 bill.wrhearn@gmail.com

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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, Suite 140 Charleston, SC 29405 843-958-4513 sdykes@charlestoncounty.org www.charlestoncountydevelopment.org Dorchester County Economic Development John M. Truluck, SCCED P.O. Box 340 402 N. Main St. Summerville, SC 29484 843-875-9109 jtruluck@dorchestercountysc.gov www.dorchesterforbusiness.com

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 www.dorchestercountysc.gov

COUNTY TREASURERS BERKELEY COUNTY Carolyn Umphlett P.O. Box 6122 1003 U.S. Highway 52 Moncks Corner, SC 29461 843-719-4040 webtrs@berkeleycountysc.gov CHARLESTON COUNTY Mary Tinkler Main Office: O.T. Wallace County Office Building 101 Meeting St., Suite 240 Charleston, SC 29401 843-958-4360 mtinkler@charlestoncounty.org East Cooper Service Center: 1189 Sweetgrass Basket Parkway Mount Pleasant, SC 29464 843-856-1203 North Charleston Service Center: Lonnie Hamilton III Public Services Building 4045 Bridge View Drive 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 Cindy L. Chitty 201 Johnston St. St. George, SC 29477 843-563-0165 Summerville Branch: 500 N. Main St. Summerville, SC 29483 843-832-0118 auditoradmin@dorchestercounty.net cchitty@dorchestercounty.net

Regional Municipalities Awendaw Mayor Miriam C. Green 6971 Doar Road Awendaw, SC 29429 843-928-3100 www.awendawsc.org

Hollywood Mayor Jacquelyn S. Heyward 6316 S.C. Highway 162 P.O. Box 519 Hollywood, SC 29449 843-889-3222

Bonneau Mayor Rembert E. Wrenn 420 Municipal Lane P.O. Box 70 Bonneau, SC 29431 843-312-1654

Isle of Palms Mayor Jimmy Carroll P.O. Box 508 Isle of Palms, SC 29451 843-886-6428 www.isle-of-palms.sc.us Building Permits and Business Licenses: 843-886-9912

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: 843-588-2447 Goose Creek Mayor Greg S. Habib 519 N. Goose Creek Blvd.

P.O. Drawer 1768 Goose Creek, SC 29445 843-797-6220 www.cityofgoosecreek.com Planning Department: 843-797-6220, ext. 118 Hanahan Mayor Minnie Newman 1255 Yeamans Hall Road Hanahan, SC 29406 843-518-0409 www.cityofhanahan.com Harleyville Mayor Charles Ackerman 119 S. Railroad Ave. Harleyville, SC 29448 843-462-7676

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 Kiawah Island Mayor Craig E. Weaver 4475 Betsy Kerrison Parkway Kiawah Island, SC 29455 843-768-9166 www.kiawahisland.org cweaver@kiawahisland.org Lincolnville Mayor Charles B. Duberry P.O. Box 536 Lincolnville, SC 29485 843-873-3261 www.lincolnvillesc.com McClellanville Mayor Rutledge B. Leland III 405 Pinckney St. McClellanville, SC 29458 843-887-3712 www.townofmcclellanville-sc.net

Meggett Mayor Harry V. “Buster” Herrington III 4776 S.C. Highway 165 Meggett, SC 29449 843-889-3622 www.townofmeggettsc.org busterherrington@comcast.net Moncks Corner Mayor Michael A. Lockliear 118 Carolina Ave. P.O. Box 700 Moncks Corner, SC 29461 843-719-7910 www.monckscornersc.gov michael@monckscornersc.gov Mount Pleasant Mayor Will Haynie 100 Ann Edwards lane P.O. Box 745 Mount Pleasant, SC 29464 843-884-8517 www.townofmountpleasant.com councilclk@tompsc.com Building Inspection and 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 and Permits: 843-740-2530 Economic Development: 843-740-2530 Zoning: 843-740-2578

Rockville Mayor Riley A. Bradham II P.O. Box 9 Wadmalaw Island, SC 29487 843-559-0938 www.townofrockville.com St. George Mayor Anne Johnston 305 County Road S-18-61 St. George, SC 29477 843-563-3032 St. Stephen Mayor John Rivers 124 Hood St. St. Stephen, SC 29479 843-567-3597 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 Dr. Patrick M. O’Neil 2056 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 mayorjohnson@summervillesc.gov

Ravenel Mayor Opal N. Baldwin 5962 S.C. Highway 165, Suite 100 Ravenel, SC 29470 843-889-8732 Reevesville Mayor Paul Wimberly P.O. Box 126 Reevesville, SC 29471 843-563-2058 Ridgeville Mayor Clarence Hughes Jr. 105 School St. Ridgeville, SC 29472 843-871-7960 www.charlestonbusiness.com |

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Index Real Estate.........................................................................................................4

Education.........................................................................................................54

A look ahead at residential home sales in the Charleston area......................................................................... 6

Charleston-area school districts.......................................................................................................................................56

New home listings over 5 years...........................................................................................................................................7

Regional Education Report: Chapter 4..........................................................................................................................58

Change in new listings from 2016 to 2017........................................................................................................................7

Annual college tuition costs................................................................................................................................................59

Charleston area home sales review.................................................................................................................................. 8

Cumulative distribution of net lottery proceeds.......................................................................................................59

Charleston area showings review, 2017.......................................................................................................................... 8

Educational attainment..........................................................................................................................................................60

Single-family homes vs. condos in the Charleston area.......................................................................................10

Total R&D expenditures...........................................................................................................................................................61

Charleston area apartment market...................................................................................................................................11

Enrollment analysis..................................................................................................................................................................61

Apartment units under construction in the Charleston area.............................................................................12 Charleston area apartment vacancy rates...................................................................................................................13

Import, Export and Distribution....................................................................62

Office submarket comparison, Q1 2018...........................................................................................................................14

S.C. State Ports Authority, FY2018.....................................................................................................................................64

Retail submarket comparison, Q1 2018...........................................................................................................................16

Distribution and logistics in South Carolina...............................................................................................................66

Industrial market summary statistics, Q2 2018..........................................................................................................16

Gross domestic product by metropolitan area, 2007 - 2016...............................................................................67

Industrial Buildings...................................................................................................................................................................18

South Carolina importing and exporting......................................................................................................................68

2017 South Carolina home sales at-a-glance.............................................................................................................20

How tariffs could impact South Carolina’s economy.............................................................................................69

Architecture, Engineering and Construction..............................................22

Hospitality and Tourism.................................................................................70

New construction homes for sale, 2017.........................................................................................................................24

Tourism economic impacts in the Charleston area, 2016-17............................................................................... 72

Percent of original list price received, Charleston area 2017.............................................................................24

South Carolina tourism report............................................................................................................................................ 73

New private housing units authorized by building permits in S.C..................................................................26

National Park Service visitor data, 2017..........................................................................................................................74

Housing building permits for S.C. metro areas..........................................................................................................26

The economic impact of weddings in the Charleston MSA, 2017....................................................................75

Total construction costs for S.C. metro areas.............................................................................................................28

South Carolina craft breweries..........................................................................................................................................76

S.C. construction costs mostly below U.S. average, 2017.....................................................................................29

2017 Solar Eclipse — by the numbers.............................................................................................................................76

Number of construction jobs by county.......................................................................................................................30 Average weekly wage for construction jobs by county.........................................................................................31

Medical and Health Care................................................................................78

Architecture, engineering and construction related occupation and wages, Charleston MSA......32

Opioid crisis in South Carolina...........................................................................................................................................80

Office construction pipeline, Q1 2018..............................................................................................................................33

S.C. ranks 38th in national survey of child well-being..........................................................................................82

Charleston under construction..........................................................................................................................................34

S.C. health care rankings.......................................................................................................................................................83 Affordable Care Act...................................................................................................................................................................83

Financial Services..........................................................................................38 Projected impact of federal tax reform for tax year 2018, S.C. residents......................................................40

Business Resources and Government..........................................................84

Deposit market share report, 2017...................................................................................................................................40

Business Services And Trade Associations.................................................................................................................86

Mobilized for finance................................................................................................................................................................41

Chambers of Commerce........................................................................................................................................................88

South Carolina banking performance............................................................................................................................42

Economic Development.........................................................................................................................................................88

Charleston’s largest credit unions...................................................................................................................................42

Financial Assistance................................................................................................................................................................92 Human Resources.....................................................................................................................................................................92

Demographics and Economic Development...............................................44

Technology....................................................................................................................................................................................93

2017 Charleston-area population......................................................................................................................................46

Legislative Representatives................................................................................................................................................96

Average daily population growth in the Charleston MSA, 2017........................................................................47

Other Constitutional Offices................................................................................................................................................97

Inclusive growth, 2010 - 2015 .............................................................................................................................................47

County Governments...............................................................................................................................................................98

2016 per capita personal income......................................................................................................................................48

Regional Municipalities.........................................................................................................................................................99

If you make $45,000 a year in the Charleston MSA, here’s what you would need to earn to live similarly in these cities.............................................................48 Arts in South Carolina.............................................................................................................................................................49 Regional Economic Scorecard...........................................................................................................................................50 Charleston’s commuting patterns....................................................................................................................................52 Automotive industry in S.C...................................................................................................................................................53 Driving the economy...............................................................................................................................................................53

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