Economic Development in South Carolina

[goodbye]

I was thinking Greenville was on a major tourism building campaign because of all the wonderful things it has to offer, as stated a while back on one of these forums. I guess it hasn't translated into jobs yet.

I think the local leaders are wisely taking care of the more important local needs before tackling the tourism sector. Greenville already does well attracting tourists (fourth in the state), but does not really rely on that industry for its economic strength. It is a nice perk which helps bring more business into the Upstate, but not something that will ever rise to the level of places like Charleston and Myrtle Beach, thankfully. I would say that The Upstate enjoys a very healthy mixture of natural beauty, business, free recreation, and affordable tourism. That combination is one of the main reasons for the region's continued steady growth while many other places are currently struggling to maintain a healthy economic status. Edited April 13, 2008 by Skyliner

[CorgiMatt]

For the past two Friday-to-Saturday-night periods the Vista has been considerably more active than I've ever seen it when nothing special was going on, as though it is being discovered and/or patronized for the first time by a lot of people. Could it be that Columbians who have been too quick to take advantage of the Capital City's central location are saving their gas money and pumping it into the Vista instead of into Myrtle Beach, the mountains and Atlanta? Could it be that economically some of South Carolina's cities and metros are going to be relying more on their local yokos for revenue while Columbia gets a bigger chunk of change from its local yokos than it has been getting?

[Spartan]

It could be the fantastic weather that we've been having...

[CorgiMatt]

With the unemployment rate dropping sharply in S.C. as of February, 2008, we may expect our metros to continue to rank well in job growth. For instance, Greenville and Columbia's unemployment rates dropped from 5.4 to 5.0 and from 5.5 to 4.9 respectively. With Greenville's labor force of 312,584 and Columbia's labor force of 366,247, the drop in the percentage of unemployed should translate into even more positive figures the next time they compile that list.

http://www.sces.org/lmi/news/February_2008.pdf

[Spartan]

Wow thanks for posting that corgi. Thats almost an across the board drop in unemployment!

[goodbye]

For the past two Friday-to-Saturday-night periods the Vista has been considerably more active than I've ever seen it when nothing special was going on, as though it is being discovered and/or patronized for the first time by a lot of people. Could it be that Columbians who have been too quick to take advantage of the Capital City's central location are saving their gas money and pumping it into the Vista instead of into Myrtle Beach, the mountains and Atlanta? Could it be that economically some of South Carolina's cities and metros are going to be relying more on their local yokos for revenue while Columbia gets a bigger chunk of change from its local yokos than it has been getting?

This should really be no surprise and should continue to increase as more local residents and students become "aware" of the Vista's existence as a destination. This same thing happened (and is still happening) in Greenville's West End district (from the Reedy River all the way out to Pendleton Street), where throughout the winter months I didn't see any empty parking spaces available on any evening/night of the week. The occasional warmer evenings brought many of these people out onto the sidewalks and into the parks. With the weather as it is now, people are literally everywhere all the time, and new shops, restaurants, hotels, spas, and more continue to open with hopes that each will capitalize on the large number of pedestrians outside enjoying the great downtown atmosphere. Obviously the investment by our cities to revitalize these districts is beginning to pay off - yet again.

[krazeeboi]

With gas prices on the rise, I think that cities should launch something of a mini-campaign to introduce residents to new and already-existing amenities and destinations available in their own backyards.

[Spartan]

Thats a good idea. It may not be as appealing to people who grow up in X city, but for newcomers it would be a good option to learn to explore the city... There are many people who don't get out of the 'burbs at all except to go to Disney World or Myrtle Beach.

[GvilleSC]

Unemployment in the state has risen to 5.7 percent.

From the Herald-Journal (Spartanburg):

In Union County, unemployment dropped .7 percent to 9.2 percent in March, the eighth highest rate of any county in South Carolina.

Cherokee County

[CorgiMatt]

It's interesting how downtown Columbia has been successful with its business office market and is now on a campaign to draw in retail to match, while downtown Greenville has been successful with its retail market and is now looking for ways to bring its business office market back. They should both succeed at what they're trying to do at about the same time and will then have model downtowns.

http://www.scbizmag.com/content/view/71376/1/

[krazeeboi]

It's interesting how downtown Columbia has been successful with its business office market and is now on a campaign to draw in retail to match, while downtown Greenville has been successful with its retail market and is now looking for ways to bring its business office market back.

I never looked at it that way, but you're right. I also expect both to achieve a measure of success in their efforts, and hopefully that will lead to bigger and better opportunities in the future.

[monsoon]

Unemployment in the state has risen to 5.7 percent. .....

What is often misunderstood by many is this number is simply the number of people that have applied and are eligible for unemployment benefits. These benefits run out in 15 - 26 weeks and then the person is no longer counted. It is not a measure of the unemployed. The actual number of unemployed is often significantly higher, especially in areas that have been highly dependent upon manufacturing jobs.

[GvilleSC]

What is often misunderstood by many is this number is simply the number of people that have applied and are eligible for unemployment benefits. These benefits run out in 15 - 26 weeks and then the person is no longer counted. It is not a measure of the unemployed. The actual number of unemployed is often significantly higher, especially in areas that have been highly dependent upon manufacturing jobs.

Sure, it's not the number of people who are unemployed, but it does paint a picture that's worthy of being seen and compared, IMO. A picture, that is, of how many people are unemployed and can't afford to continue living without assistance from the government.

[monsoon]

Unemployment isn't a handout from the government. It is an insurance program that you have to work and pay into before you are eligible for any benefits. While you are getting it you have to demonstrate that you are looking for another job.

It really doesn't tell a good story of the economic situation in an area because in places such as Myrtle Beach, a large number of people will go onto unemployment during the change in seasons, and subsequent change in the kinds of jobs available, and then get off of it when the new season starts.

[GvilleSC]

No one said it's a handout. It's a government program. And it provides assistance to those without work. I'd say the picture it paints of Myrtle beach is an accurate one. Not accurate of the number of people without work in the winter, but a clear picture of how cyclical the economy is.

Edited April 23, 2008 by GvilleSC

[Spartan]

According to this article in the Herald-Journal, SCANA is not gaining in revenues at the same rate as other Fortune 500 companies. It has slipped to #500... if this trend continues, South Carolina will be without any Fortune 500 companies. We had 5 in 1990 (Springs, Sonoco, Bowater, JPS Textile Group and Delta Woodside).

Fortune 500 List [401-500]

[goodbye]

Further proof that we have some strength during this national economic downturn: five SC cities have been selected as "Top 100 Best Places to Live" according to Relocate-America. The great news for the Upstate is that Greenville was given the #4 position, actually out-ranking Asheville, NC, this year. Asheville held the #1 position last year, but Charlotte, NC, has taken over the top title this year.

The other SC cities in the Top 100 are Aiken, Charleston, Columbia, and Rock Hill.

[krazeeboi]

^That's definitely some good press for the state, and congrats to Greenville in particular for ranking in the top 5. And it's pretty cool that they used my pictures in the Charleston and Columbia profiles and even gave me credit.

[CorgiMatt]

Oh, so it's based on nominations and the number of write-ups that are consistent. I see. Hmmm.

[Spartan]

I hope everyone will submit their SC city on that list for next year. I would love it if all of out cities were on there every year

[CorgiMatt]

An Urbanplaneteer craftier than I may want to move this posting to another forum. Median prices in South Carolina's housing market seem to be holding up in the face of the national housing crisis.

http://articles.moneycentral.msn.com/Banki...icesByCity.aspx

Edited May 23, 2008 by CorgiMatt

[CorgiMatt]

This is a report from the South Carolina Association of Realtors on the state's MSA's number of houses sold and median prices in April '08 and year-to-date '08.

http://www.screaltors.com/mls/SC_MLS_April08.pdf

[GvilleSC]

Thanks for the link, Corgi.

"Greenville-Mouldin-Easley, SC" Seriously? Mouldin, SC? MSN needs to check their spelling.

I'll be glad when that MSA name is changed.

Anderson caught me by surprise on this list, coming in at number 7!

RANK - MSA

7 --- Anderson

18 -- Greenville-Mauldin-Easley

24 -- Columbia

48 -- Spartanburg

101 - Myrtle Beach-North Myrtle Beach-Conway

145 - Charleston-North Charleston-Summerville

[CorgiMatt]

South Carolina's economic growth rate last year mirrored that of the nation, moving from 39th from 2000 through 2006 to 24th in 2007, according to this article from thestate.com.

http://www.thestate.com/breaking/story/425506.html

[krazeeboi]

Heinz is planning to build a $105 million, 229,000-square-foot plant on 49 acres in the Pee Dee industrial park near Florence and I-95 that will employ 350 people. The jobs will pay above the county