2011 CRDA Economic Scorecard Full Report

2011 Regional

economic ScoRecaRd

TRacking economic pRogReSS in BeRkeley, chaRleSTon and doRcheSTeR counTieS

Produced for the community by:Charleston Regional Development Alliance

Research and analysis by:

University Center for Economic Development Clemson University

Center for Business Research Charleston Metro Chamber of Commerce

view online: www.cRda.oRg/economicScoRecaRd

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The 2011 Regional Economic Scorecard is the second annual assessment of our three-county region’s economic progress and is intended to guide discussions by local business, government, community and workforce leaders regarding strategies for building a globally competitive economy now and into the future.

This year we examine the foundational elements for economic development (the competitive inputs), as well as the supporting environment for economic development, which includes our industrial composition; physical infrastructure; and social, cultural and institutional environment. Progress in each of these areas can ultimately lead to economic prosperity.

While this Scorecard measures our economic indicators against data from comparative metros in the Southeast, the reality is the Charleston region must be globally competitive to succeed in an economy increasingly defined by innovation, knowledge and international competition.

All regional organizations have a role to play in moving our economy forward. Education and workforce development, for example, are essential building blocks of a successful economy. The number one issue for businesses looking to expand or select a new location is an educated, highly-skilled workforce. Private sector involvement in the classroom and creating a pipeline of skilled talent are critical components for supercharging our economy and boosting our region from good to great.

We encourage you to spend time with this Scorecard, get to know the strengths and challenges it identifies for our region, and share that information with your colleagues and contacts. If we all work together to align, strengthen and grow our region’s core competencies and assets, we will truly become a global destination for business and talent.

Brice SweattExecutive Vice President & CFOThe InterTech Group, Inc.Chairman, 2011 Regional Economic Scorecard Task Force

David T. GinnPresident & CEOCharleston Regional Development Alliance

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Building Regional pRoSpeRiTyThis Regional Economic Scorecard, published

annually, gauges our three-county region’s economic progress compared to six similar metro areas and two leading economies. Because of a time lag in data availability, this 2011 report highlights data captured during and just prior to the Great Recession.

New featured content includes data and examples from the middle section of the Model for Economic Prosperity pyramid, showing how our region’s “Environment for Development” impacts our economy now and into the future.

whaT defineS economic pRoSpeRiTy? A successful economic development effort

leads to strong job growth, improved wages and incomes, and an overall increase in a region’s economic output. These outcomes are linked to four key competitive inputs, plus a strong environment for development, which are all considered in this report.

whaT iS an index?This Scorecard examines numerous indicators

of regional economic competitiveness. Each indicator is shown relative to the U.S. average. For example, a value of 110 means the metro is performing 10% above the national average.

NOTE: The most recent values are compared to a 2005 baseline and do not imply year-to-year changes.

gReenville, Sc manufacturing base,

tech transfer and higher education

JackSonville, fl port, business

diversity, military presence and talent

attraction

knoxville, Tn federal research

lab, entrepreneurial environment and higher education

lexingTon, ky entrepreneurial

environment, R&D and strength in

medical technology

Richmond, va growing base of R&D, higher

education, logistics and biotech cluster

Savannah, ga port, military,

creative economy and tourism industry

auSTin, Tx thrives on a

healthy balance of technology, business services, education and government,

and is a magnet for young talent

Raleigh, nc consistently ranks among the best

places to live, and is renowned for strong job growth, R&D, and

higher education

ouR compaRaTive locaTionS A task force of business and community leaders selected six similar metro areas and two leading metro areas for this benchmark project.

EnvironmEnt for DEvElopmEnt• Industrial Composition• Physical Infrastructure• Social, Cultural &

Institutional Environment

CompEtitivEnEss inputs• Human Capital• Innovative Activity• Entrepreneurial Environment• Quality of Place

EConomiC DEvElopmEnt outComE• Economic Output• Employment• Earnings & Income

indicaToRu.S. value

x 100 index value=

compaRaTive leading

model foR economic pRoSpeRiTy

nEw ContEnt

Courtesy/visitraleigh.comRepoRT oveRview

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mEasuring EConomiC pErformanCESigns of our region’s economic well-being are all around us – people

gaining or losing jobs, crowds or empty tables at area restaurants, a growing or declining need for community-based services. To provide us with actual measures of our region’s economic performance, and to compare our situation to other metro areas, we considered four indicators of economic activity.

thE inDiCators:gross rEgional proDuCt

Defined as the market value of all final goods and services produced within the region, or more simply as “economic output.” A rising GRP means more money is flowing through the local economy. From 2005 to 2009, Charleston’s GRP grew 3.6%, a rate significantly higher than all peer metros, who almost universally declined, but well below overall growth in Austin and Raleigh.

rEgional EmploymEntMeasures the number of people actively employed in an area. Employment

growth generally correlates to job growth. For this Scorecard, employment changes were measured over two time periods to better understand the impact of the Great Recession on business cycle expansion and contraction. Employment in Charleston grew rapidly at 13.2% during the 2003-2008 expansion, exceeding the U.S. average and five comparative metros. From December 2007 to March 2011, employment in the Charleston region declined by 4.6%.

Earnings pEr workErDivides all wage and salary earnings by the number of people actively

employed. From 2005 to 2009, regional earnings per worker grew 13.4% to $44,076, a higher growth rate than the U.S. (10.8%) but still below the U.S. average of $50,695 and fifth among peer metros. While metro Charleston’s cost of living is very close to the U.S. average, a gap exists between what people earn and what it costs to live here.

pEr Capita inComE (pCi)Measures overall wealth within a community on a per capita basis. PCI

is determined by dividing the population’s total income from all sources by the number of people who reside in the community, including infants and children. As with earnings per worker, our PCI is growing rapidly at 14.6%, but it’s still below the national average, four of the six peer metros and the two leading metros.

Charleston 2009 per Capita income: $35,342

united states 2009 per Capita income: $39,635

Cost of living vs. per Capita incomeIn 2009, incomes in the Charleston metro area were 11% below

the national average while our cost of living was about 2% below.

U.S. 2009 Cost of Living Index = 100

Source: Bureau of Economic Analysis

average wage growth 2000-2009

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009$26,000

$28,000

$30,000

$32,000

$34,000

$36,000

$42,000

$38,000

$40,000

$44,000

$46,000

SouTh caRolina

uniTed STaTeS

chaRleSTon mSa

Source: Bureau of Labor Statistics

2000: Charleston wages 78% of u.s. avg.

2003: Charleston surpasses s.C.

average

2009: Charleston wages more than 85% of u.s. avg.

1.8%

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economic developmenT ouTcomeS

Employment growth

2%

-8%

4%

-6%

12%

6%

-4%

14%

8%

-2%

16%

10%

18%

20%

-5.2%

5.2%

16.4%

-7.3%

6.3%

-2.5% -2.3%

5.0%

7.2%

-4.7% -4.8%

19.4%

8.6%

-6.6%

18.8%

7.3%

-8.2%

13.2%

-4.6%

0


- Pre-Recesson Employment Growth (2003-2008) - Recession/Recovery Employment Growth (Dec. 2007 - March 2011)

Savannah Charleston Jacksonville Greenville Richmond Knoxville Lexington Raleigh Austin U.S.

1.2%

Cost of housing index, 2009

Earnings per worker, 2009 U.S. Average: $50,695


Source: ACCRA Cost of Living Index

$42,000$40,000 $44,000 $46,000 $48,000 $50,000 $52,000

u.s. average

70

75

80

85

90

95

100

105

102.9

92.3

88.6 88.584.9

83.7 81.879.8 72.7

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Aust

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The Cost of Living Index includes six components, one of which is the cost of housing compared to the U.S. average.

During the Recession, Charleston’s rate of employment decline was lower

than that of the U.S. and five of the comparative metros.

Austin fared better than all major U.S. metros during the

Great Recession.

Source: Brookings Institution

Richmond $52,147

Austin $48,834

Raleigh $48,113

Jacksonville $47,161

Lexington $45,243

Savannah $44,200

Charleston $44,076

Knoxville $42,828

Greenville $42,201

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moving Region foRwaRdWhile this Economic Scorecard measures

our economic indicators against data from sister metros in the Southeast, the reality is the Charleston region must be globally competitive to succeed in an economy defined by innovation, knowledge and international competition.

All regional organizations have a role to play in moving our economy forward. Find an element of the strategy you are passionate about and get involved in a big way.

Building a gloBally compeTiTive economy foR The chaRleSTon RegionThe Charleston region is committed

to an industry cluster-based economic development strategy that is grounded in research, reflects best practices and leverages the region’s key assets.

The Opportunity Next strategic plan aligns with the Model for Economic Prosperity pyramid, which serves as the framework for this Economic Scorecard.

dRiving economic gRowThIntroduced in April 2011, the new strategy

is the culmination of a nine-month process, informed by more than 1400 individuals, elected officials and organizations. It assesses our region’s strengths and challenges, identifies global growth opportunities aligned with our assets and creates a multi-year plan for driving long-term economic growth throughout the region.

aligning TaRgeTS & compeTencieSOpportunity Next is designed to

leverage limited resources by aligning our region’s community development, workforce development and economic development initiatives to foster the growth of four target industry clusters:

•Advanced Security & IT •Aerospace •Biomedical •Wind Energy

It also calls for further enhancing five core competencies with synergies critical to economic growth:

•Advanced Materials•Creative Design•Drivetrain & Power Systems•Logistics•Software

veRTical induSTRy TaRgeTS

www.opportunity-next.com

• Defense electronics• Network communications• Cybersecurity• Military command posts• Data centers & cloud computing• Web applications

advanced SecuRiTy & iT aeRoSpace Biomedical wind eneRgy

COMPETENCY TARGETS

advanced materials

drivetrain & power systems

software

creative design

logistics

win

d e

nerg

y

bio

med

ical

aero

spac

e

adva

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se

curi

ty &

it

• Boeing suppliers• Subassembly operations• Advanced materials manufacturers & fabricators

• Medical equipment• Devices & diagnostics• Health IT & telemedicine• Bioengineering• Clinical trials & drug/vaccine research

• Component manufacturers• Metalworking & machining• Advanced materials manufacturers & fabricators

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enviRonmenT foR developmenTenviRonmenT foR developmenT

The 2010 Regional Economic Scorecard introduced the Model for Economic Prosperity pyramid as a framework for gauging our region’s economic progress over time.

While last year’s report focused on the foundational elements for economic development (bottom section of the pyramid), this year we’re also looking at the supporting environment for economic development (middle section). Progress in each of these areas ultimately leads to economic development success (top section).

The supporting environment for economic development includes a community’s industrial composition; physical infrastructure; and social, cultural and institutional environment.

a Closer look into traded sectors Looking deeper into the subsectors of the Charleston region’s industry sectors shows

significant employment concentrations higher than the overall sectors.


induSTRial compoSiTionIndustrial composition can help determine if a community has the right environment

for bringing new money into the local economy and generating long-term economic growth. A diverse industrial structure provides resilience in reacting to economic downturns, while a concentration of businesses in clusters growing nationally and/or internationally is an indication of future growth potential. Communities can influence their industrial mix by making strategic long-term investments in areas such as infrastructure and workforce development.

thE inDiCators

traded sectorsTraded sectors are measured by location quotient (LQ), a ratio comparing the con-

centration of employment within a specified region, such as the Charleston MSA, to that of the U.S. An LQ greater than one indicates employment concentration. Concentrated industry sectors trade excess capacity thereby bringing “outside dollars” into the regional economy. Those outside dollars then multiply and are circulated locally.

Primary traded sectors in the Charleston region• Military & Government• Accommodation & Food Service

Export activityAlthough the word “exports” evokes images of shipping containers, it actually encom-

passes all purchases of U.S. goods and services by residents of foreign countries, including payments for patents and trademarks, contracts with U.S. consultants, and spending by foreign tourists and students.

1

2

3

4

While the overall manufacturing sector LQ is .90,

the significant employment

concentration is in the subsector, which

includes Boeing.

2.76

manufacturing sector

information sector

While the overall information

sector LQ is .90, the significant employment

concentration is in the subsector, which includes

Google.

1.66

While the overall professional &

technical services sector LQ is 1.12,

the significant employment

concentration is in the subsector, which

includes SPAWAR Atlantic.

2.91

professional & technical

services sector

The Support Activities for Transportation subsector includes

the Port of Charleston. The overall

transportation & warehousing sector’s LQ is

not disclosed for proprietary reasons.

3.14

0

2010 location Quotient – Subsector – Overall Sector

transportation Equipment

manufacturing Data processing & hosting

Engineering services support

activities for transportation

why is thE EnvironmEnt for DEvElopmEnt important?

In today’s highly competitive environment, companies and talent choose forward-thinking communities reflecting their values. To be successful, communities need to embrace government policies that don’t unnecessarily burden local businesses; develop modern infrastructure to seamlessly connect people, places and ideas; and support initiatives creating lasting opportunities for all residents.

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induSTRial compoSiTion

Blackbaud is an example of one local company globally exporting its business & professional services. It is the leading global provider of software and services designed specifically for nonprofits, enabling them to improve operational efficiency, build strong relationships, and raise more money to support their missions. Approximately 24,000 organizations in 83 countries use one or more Blackbaud products and services. Headquartered in Charleston, Blackbaud has operations in Australia, Canada, Hong Kong, the Netherlands, and the United Kingdom. www.blackbaud.com


Export activity per Job, 2009

Metro areas with the highest rates of innovation are also the most export-oriented. Strong

manufacturing and patent-producing

communities generate the

highest exports.

$1,000$0 $2,000 $3,000 $6,000$4,000 $8,000$5,000 $9,000$7,000 $10,000

1st Lexington $9,831

2nd Greenville $8,835

3rd Austin $7,971

4th Raleigh $7,968

5th Savannah $7,955

6th Richmond $6,719

7th Charleston $6,603

8th Knoxville $6,492

9th Jacksonville $4,970

Charleston’s regional economy experienced significant employment growth in health care & social services, finance & insurance, and information technologies from 2005-2009. Employment in manufacturing, construction and retail declined, reflecting national trends.

significant structural Changes in our Economy(% of Local Employment) Construction

Finance & Insurance

Accommodation & Food Service

Health Care & Social Services

Manufacturing

Information

Retail Trade

1% 7%2% 8%3% 9%4% 10%5% 11%6% 12%0%

- 2005 - 2009

Source: U.S. Dept. of Commerce

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enviRonmenT foR developmenTinduSTRial compoSiTion

thE BusinEss pErspECtivE workforce pipelineA sustainable economic development effort requires a

long-term view of the local workforce. As business grows and older workers retire, companies need a steady supply of job-ready workers. Investments in lifelong learning – from pre-K-12 education through existing worker training – are vital to sustained economic vitality and to Charleston becoming a global destination for business and talent.

personal pathways to success is a statewide initiative designed to empower K-12 students and adult job seekers by making education relevant to their individual aspirations and abilities. The program combines coursework and career planning, and teaches skills essential to gainful employment and satisfying careers.

Educators need business partners to help students better understand the practical realities of the workplace. Businesses also benefit from this direct connection to their future workforce.

Business partners can provide:• Job shadowing experiences• Internships• Apprenticeships • Industry tours

www.personalpathways.sc.gov/trident

Job-specific skills trainingTrident Technical College’s Dorchester County

QuickJobs Training Center offers academic and continuing education courses in the classroom, providing short-term training to rural workers who need job-specific skills for quick employment. More than 30 online courses with on-site computers are also available. www.tridenttech.edu/stgeorge.htm

www.citadel.edu/stemcenter

“Establishing a long-term pipeline of highly skilled workers is critical for Boeing to meet our production needs and meet our customer commitments. We have a dedicated, knowledgeable and well-trained South Carolina workforce, and we’re looking forward to continuing our partnership with the Lowcountry for many years to come.”

Jack JonesVice President and General Manager,Boeing South Carolina preparing a 21st Century workforce

The national shortage of science and technology workers is certainly reflected in the Charleston region, where demand greatly exceeds local supply.

In 2010, The Citadel launched its STEM* Center of Excellence to equip and prepare the next generation of scientists, technologists, engineers, mathematicians and STEM educators to help local businesses compete in the global marketplace.

*STEM = Science, Technology, Engineering and Mathematics

AvERAGE

1.00 2.00 3.00 4.00 5.000

phySical infRaSTRucTuRe

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thE BusinEss pErspECtivE“The capacity of our region’s transportation arteries is critical to Bosch’s ability to service our customers. As a significant ‘just-in-time’ manufacturer in South Carolina, Bosch fully supports environmentally and fiscally sustainable improvements of area transportation infrastructure to keep pace with increased traffic volumes.”

larry lautenschlager Senior Vice President, Manufacturing, Robert Bosch LLC

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For this report, physical infrastructure is defined as the structural framework for moving people, goods and information from one point to another. Companies today require strong and reliable transportation and information networks. Infrastructure investments are also important to young professionals, who often choose to locate in communities offering an array of transportation choices.

thE inDiCatorsmultimodal transportation

How individuals get to work – driving alone, carpooling, using public transportation, biking or walking – measures access to mass transit and other means of dealing with traffic congestion. Not surprisingly, all comparative metro areas had similar rates of driving alone, roughly 80-85% compared to the U.S. average of 76%. Of the leading economies, Austin had the lowest rate of solo driving at 75%.

“In 2009, congestion caused urban Americans to travel 4.8 billion hours more and to purchase an extra 3.9 billion gallons of fuel for a congestion cost of $115 billion.”

Source: Texas Transportation Institute’s 2010 Urban Mobility Report

Broadband accessAccess to a reliable, state-of-the-art broadband network is essential for business and is

increasingly a quality of life issue, supporting services ranging from telemedicine to the virtual classroom. While no unbiased data yet exist for measuring broadband access across metro areas, Federal sources provide metro-level comparisons of data uploading speeds for medium and large businesses. At 15.7 megabits per second, Charleston ranked number one for this indicator.

Domestic air travelThe average price for domestic air travel provides a measure of a region’s connectivity

to other markets. Ticket prices also have a direct impact on local household and business expenses. Among the peer metros, Charleston had the highest airfare costs overall with an average price of $450.55 in 2010.

Respondents rated performance

from 1 to 5.

CongEstion solutions

21 Minutes 22 Minutes 23 Minutes 24 Minutes 25 Minutes

1st lexington

2ndknoxville 4th

savannah

5th (tie)Charleston

6th (tie)richmond

5th (tie)raleigh

6th (tie)austin

7thJacksonville

3rdgreenville

enviRonmenT foR developmenT

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

i-26 Critical improvements“Traffic conditions on I-26 threaten the vitality of the region. Find funding to improve this critical corridor.” Source: Opportunity Next, Strategic Priorities

mean travel time to workU.S. Average: 25.1 Minutes

Source: Texas Transportation Institute’s 2010 Urban Mobility Report

Source: Opportunity Next Community Survey, 1,068 total responses

• Maximize existing service• Add capacity in critical corridors• Change usage patterns

• Provide greater number of choices• Diversify the development patterns

rating thE rEgion’s infrastruCturE

Telecommunications

Highway access

Commute time

Air service

Road capacity

Pedestrian/bike routes

Public transit

3.13

2.86

2.83

2.42

2.36

2.06

2.05

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our region, our plan Is a regional growth plan led by the BCD Council

of Governments for our three-county region. When completed in 2011, it will provide a “greenprint” for sustainable growth and development, lay the foundation to manage proposed large-scale and fast-paced growth, and develop a uniform platform integrating all planning initiatives in the region. www.ourregionourplan.org

Commuter Connection Trident Rideshare, a service of the BCD Council of Governments, connects commuting partners via a

secure website. It also offers the GreenRide program for companies to evaluate employees’ commute options and

assess what travel reduction programs will work best. www.tridentrideshare.com

“A 7% increase in broadband adoption would create 2.4 million jobs across the U.S., and would save $662 million in health care

costs and $6.4 billion in vehicle mileage costs.”

Source: Connected Nation

Carta Provides local, express and

neighborhood bus service within the urban and suburban areas of the three-county region to more than 4 million passengers.

Charleston’s public transportation system ranked 55th in the nation and is South Carolina’s most efficient public transportation to work.


Broadband accessmedium mbps * speed for medium-large businesses, 2011

*megabits per secondSource: National Broadband Map

Charleston Austin Lexington Raleigh Richmond Jacksonville Knoxville Greenville Savannah

15.7 14.9 12.5 11.2 10.8 9.4 7.4 5.7 5.3

Charleston movesPromotes non-motorized

and public transportation for a healthy community and a healthy lifestyle. Provides updates on local bike events, legislation and advocacy. www.charlestonmoves.org

“Nationally, less than one percent of Americans ride their bikes to work. However, metros where more people bike to work are more affluent and diverse, and have higher average wages, higher levels of education or human capital, and more knowledge-based economies.”

Source: American Community Survey; Richard Florida, The Atlantic

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$320

$340

$360

$380

$400

$440

$460

$420

$339.71naTional aveRage

With the Panama Canal’s completed expansion in 2014, larger ships with their economies of scale are the major trend in international shipping. More than 80% of the world’s on-order ship capacity is post-Panamax vessels, which require deep water ports.

The Port of Charleston is currently and efficiently handling post-Panamax vessels up to 8,000 TEUs*, and has a major competitive advantage with the deepest water in the Southeast and a harbor deepening project underway. Deep water is essential to handling the region’s export commodities, which tend to be heavier.

chaRleSTon’S deepwaTeR poRT

maJor invEstmEntsTo support expected demand, the Ports Authority plans nearly $1.3 billion in capital investments during the next 10 years:• A new terminal operating system• Improvements to existing facilities• A new container terminal on the former Navy Base (at build-out, will increase container capacity by 50%)• New cruise terminal at Union Pier• More than $12 million in statewide environmental and community projects (aligned with its Pledge for Growth program)

Source: S.C. State Ports Authority

*TEU = twenty-foot equivalent unit, the standard measure of one shipping container.

Sources: U.S. Department of Transportation, Maritime Administration, Braemar Seascope's Containership Fleet Statistics

17%incReaSe in chaRleSTon

conTaineR volume in

2010

Lexin

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Jack

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Raleigh

Sava

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Austi

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Richmon

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Greenv

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Knox

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Char

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$300

Since Southwest initiated service in March 2011, ticket prices have fallen and passenger volume is up more than 30% at CHS.

Charleston International Airport’s (CHS) planned 2012 terminal expansion will:• DoublethesizeofConcourseA• SignificantlyexpandConcourseB• Addathirdcarouselinbaggageclaim• Addmoreseating,shops,restaurantsand restrooms

phySical infRaSTRucTuReaverage Cost per flight, 2010

Source: Bureau of Transportation Statistics, 3rd Quarter, 2010


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Social, culTuRal & inSTiTuTional enviRonmenTLeading companies embrace their responsibility to the communities in which they

operate. This also holds true for educated, young professionals, who often choose where they want to live before deciding where they will work. As such, a community’s social, cultural and institutional environment is an important ingredient to its overall business climate.

thE inDiCators

voter participation Defined as the percentage of the voting age population participating in a general

election. It provides a measure of civic engagement – a key element of social capital. Our region’s 56.4% participation rate in the 2008 general election placed us fifth among all comparative metros. Participation rates in Jacksonville, Richmond and Raleigh all topped 67%.

poverty rate Provides an indicator of social well-being and standard of living in a community. Living

in poverty can limit an individual’s ability to remain healthy and to develop the skills necessary to contribute talents, ideas and even labor to the economy. Poverty also strains a community’s economic resources. The Charleston region’s poverty rate of 14% ties with Savannah for fifth among comparative cities.

health insurance CoverageLack of health insurance coverage has been associated with delayed access to health care,

increased risk of chronic disease and mortality, absenteeism and unemployment. Overall, the Charleston region ranked next to last in the percentage of residents with some form of health insurance coverage. We also have the third highest uninsured population at 17%.

youth vote neededThe youngest voters are traditionally the least

likely to vote and the Charleston region echoes that trend with 18-21 year olds comprising only 5.3% of total voters in the 2008 general election. However, participation does grow in areas with youth-focused voter recruitment efforts.

Source: S.C. Election Commission

richmond, va has a strong voter registration program, which includes

pre-registering 16-and 17-year-olds. Once they turn 18, they are

automatically entered into the system.

mind those millenialsYoung professionals dubbed “Millenials,” born

1980 through 1998, generally share a commitment to civic mindedness. They volunteer. They vote.

Just over 50% of metro Charleston’s population is 34 or younger.

Sources: Century Foundation, U.S. Census

nEXt CitiEs™ rankings 2009-2010Next Generation

Consulting, a national market research firm

specializing in young professionals, researched the top areas with the assets and amenities that attract and keep a young, educated workforce.

ranking indicators:• vitality • Earning• Learning • social Capital

• Cost of Living • After Hours • Around Town

programs Cultivating our next generation leaders:

• Charleston Young Professionals and Leadership Charleston Charleston Metro Chamber of Commerce

• Emerging Leaders Network and Leadership Berkeley Berkeley County Chamber of Commerce

• Young Professionals Council and Leadership Dorchester Greater Summerville/Dorchester County Chamber of Commerce

• Young Professionals Network – Trident Urban League

the Charleston area league of women voters (lwv)Promotes citizen participation by providing non-partisan, objective information on

governmental issues and elections.

In Berkeley County, a 2010 LWV initiative registered more than 400 students in seven high schools. Students signed up during lunch periods and were eligible to vote in November (as long as they turned 18 on or before Nov. 2). www.lwvcharleston.org

Sources: League of Women Voters, Berkeley Independent

mighty micros: next Cities™ with population of 100,000-200,000. Charleston ranked #2.

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Source: Center for American Progress

Source: U.S. Census Bureau, American Community Survey2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 26%0%

Overall 14%

Children 20%

African American 25.6%

Caucasian 8.8%

Economic impact of Childhood poverty• Lower productivity and economic output• Costs of crime• Higher health expenditures

thE BusinEss pErspECtivE

“Volunteerism and community support are integral parts of Alcoa’s values. It’s incredibly important to give back the community in which we work and live. We have a vested interest in making it a better place – economically, environmentally and socially.”

mike rousseau Plant Manager, Alcoa Mt. Holly

alcoa’s Community involvementEmployees annually donate 7,000 hours

by volunteering as mentors, firefighters & coaches.

Employee-led group volunteer projects with Charleston Green Fair, Roscoe Reading Program, FIRST Robotics, Rural Mission, Earth Force, Trident United Way, Meals on Wheels, Susan G. Komen and more.

Since 2007, the Alcoa Foundation has granted more than $850,000 to area nonprofits.

CPN stretches 5.6 miles, encompassing Charleston's East Side, Neck area and parts of North Charleston.

a world of Extremes Modeled after the highly successful Harlem Children’s Zone project, the

Charleston Promise Neighborhood aims to break the cycle of poverty in a significant swath of Charleston’s urban core. The 20-year goal: 100% high school graduation rate with all students enrolled in college.

the need• 17,000+ residents with 4,300 children under age 18• Poverty rate above 40%; 90% of children qualify for free lunch• Unemployment rate double the national average• Over 40% rely on Medicaid, twice the overall rate in Charleston County

the partners• Governmental Partners: Charleston County, Charleston County School District, North Charleston and Charleston• Educational Institution Partners: College of Charleston, MUSC, and The Citadel• Nonprofit Partners: Metanoia, WINGS for Kids, Trident United Way, and Coastal Community Foundation• Business Partner: Blackbaud, Inc.

the visionThe Neighborhood will be socially and economically indistinguishable

from the rest of Charleston County within a generation. In fall 2011, CPN will offer pediatric health clinics and performance bonuses for teachers in four neighborhood schools to boost student performance.

www.charlestonpromise.org

Sources: U.S. Census Bureau, S.C. Department of Education

poverty rate Charleston region, 2009Charleston’s poverty rates for all demographics trend with the U.S.

S.C.

U.S.

Social, culTuRal & inSTiTuTional enviRonmenTenviRonmenT foR developmenT

15

the Cost of the uninsured More than 10 working-age South

Carolinians die each week from a lack of health insurance. In 2007, South Carolina’s hospitals provided $1.3 billion in services for which they were not paid. Those losses were passed on to businesses and individuals with insurance in the form of higher medical costs and premiums.

Source: AccessHealthSC

Employment in nonprofits is one reliable indicator of a community’s level of social engagement. Of the comparison metros, Charleston has the lowest percentage of total employment in nonprofit organizations.

80% 11%

81% 12%

82% 13%

83% 14%

84% 15%

85% 16%

86% 17%

87% 18%

88% 19%

89% 20%

Richmon

d

Richmon

d

Greenv

ille

Greenv

ille

Sava

nnah

Sava

nnah

Char

leston

Char

leston

Austi

n

Austi

n

Knox

ville

Knox

ville

Jack

sonv

ille

Jack

sonv

ille

Raleigh

Raleigh

Lexin

gton

Lexin

gton

79% 10%

with health Care insurance Coverage, 2009 no health Care insurance Coverage, 2009

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Knox

ville

Richmon

dAu

stin

Sava

nnah

Char

leston

Lexin

gton

Raleigh

Jack

sonv

ille

Greenv

ille 0%

percent Employment in nonprofit organizations, 2009

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

tri- county

Cultural

2.72%

Human Services

12.09%

Education/ Research

23.45%

Conservation

0.72%

Health Care

42.20%

Miscellaneous

16.80%

Public-SocietyBenefit

2.02%

Revenue received from donors, foundations, grants and other forms of gifts; other types of income not included.

Compiled by Coastal Community FoundationSources: Giving USA, GuideStar

nonprofit revenue by sector Charleston region, 2009

Where a community invests its nonprofit dollars can show which issues are most important to area residents.

Role of nonpRofiTSSource: U.S. Census Bureau, American Community Survey

U.S.

S.C.

16

comp

eTiTi

vene

SS in

puTS

human capiTal indexwhy is this important?Workforce preparedness is critical to the region’s long-term economic health. Educated residents with specialized skills and knowledge fuel the performance of existing firms and serve to attract new employers. The better educated our workforce, the more quickly our economy can take advantage of new opportunities and recover from negative shocks, such as the recent economic recession.

thE inDiCators

knowlEDgE workErsPercentage of population (ages 25-64) employed in occupations requiring specialized knowledge and creativity, such as manage-ment, finance, IT, science & engineering, healthcare, design, the arts, etc.

high sChool graDuatEsPercentage of adult population (25+) with a high school diploma.

CollEgE graDuatEsPercentage of adult population (25+) with a bachelor’s degree or higher.

EmploymEnt ratEPercentage of an area’s workforce that is actively employed.

Richmond

112

knox

ville

107

75 125

Raleigh

121auSTin

119

115

lexingTon

105chaRleSTon

Sava

nnah

& Jac

kSon

ville

102 103

gReen

ville

100uniTed STaTeS aveRage

key reasons for increase:• Steady growth in knowledge workers• Higher education levels attained

=

2005 – 2009

= Increase in index value = Decrease in index value = No change in index value

The most recent values are compared to a 2005 baseline and do not imply year-to-year changes.

fastest growing occupationsCharleston regionEstimated % growth over next 5 years

60 80 100

120

140

40

Architect Support/Drafting 136%

Website Developer 124%

Network Administrator (IT) 122%

General Mechanic 110%

Production Engineer 99%

Mechanical Engineer 88%

Information Technology Support 86%

Quality Control Technician 82%

Computer Programmer 78%

Process/Production Operator 75%

Registered Nurse 68%

Operations Manager/Supervisor 67%

Commercial Driver 67%

Customer Service Representative 61%

Engineering Technician 61%

educaTion payS• On average, over a lifetime, individuals with bachelor’s degrees earn $1.2 million more than individuals who completed high school

• Higher educational attainment has the potential to decrease significantly S.C.’s unemployment rate, to reduce the share of the population in prison and to relate positively to per-capita income and better access to affordable healthcare

Source: S.C. Higher Education Study Committee Report

u.s. unemployment rate in 2010

average: 8.2% median: $782

u.s. median weekly earnings in 2010


Doctoral degree

Professional degree

Master’s degree

Bachelor’s degree

Associate degree

Some college (no degree)

High School diploma

Less than a high school diploma

1.9% $1,550

$1,610

$1,272

$1,038

$767

$712

$626

$444

2.4%

4.0%

5.4%

7.0%

9.2%

10.3%

14.9%

Source: Opportunity Next Regional Workforce Survey

17

compeTiTiveneSS inpuTS

high school graduates index, 2009U.S. Average - 100

1st 104.8

2nd103.5

3rd103.4

4th102.5

5th102.1

6th (tie)101.5

6th (tie)101.5

8th100.1

9th98.0

Raleigh Savannah Jacksonville Knoxville Charleston Lexington Austin Richmond Greenville

Percentage of workforce with a high school diploma or greater (population 25 years or older)

Source: U.S. Census Bureau

Employment rate index, 2009U.S. Average - 100

1st 102.6

2nd102.0

3rd101.2

4th101.0

5th100.7

6th100.6

7th99.6

8th99.2

9th98.9

Austin Richmond Savannah Lexington Knoxville Raleigh Charleston Jacksonville Greenville

Percentage of workforce actively employed (population 25 years or older)


knowledge workers index, 2009U.S. Average - 100

1st 135.1

2nd132.4

3rd131.7

4th124.7

5th121.2

6th114.9

7th109.0

8th106.6

9th105.0

Lexington Richmond Austin Raleigh Knoxville Greenville Jacksonville Savannah Charleston

Percentage of population (ages 25-64) employed in occupations requiring specialized knowledge and creativity, such as management, finance, IT, science & engineering, healthcare, design, the arts etc.


College graduates index, 2009U.S. Average - 100

1st 152.0

2nd138.7

3rd123.7

4th112.9

5th111.5

6th104.7

7th100.0

8th97.8

9th95.0

Raleigh Austin Lexington Richmond Charleston Knoxville Greenville Jacksonville Savannah

Percentage of workforce with a bachelor’s degree or greater (population 25 years or older)


A handful of local technology startups are on the cusp of major growth, and many identify a common challenge: finding talented workers to keep up the pace of their expansion.

This regional nonprofit brings together employers and educators to align public education with the region’s current and future workforce needs. http://edfound.net

Programs include:• Career Academies• Workplace InStitute for Educators (WISE)

Business and community volunteers teach K-12 students about workforce readiness, entrepreneurship and financial literacy in both classroom and after-school settings. http://coastalsouthcarolina.ja.org/

The College’s School of Business has been selected to deliver a global logistics and transportation professional development program for Greenville-based tire manufacturer, Michelin North America. http://sb.cofc.edu/

thE BusinEss pErspECtivE

“PeopleMatter is creating a Silicon Valley culture in Charleston, in the types of benefits offered and in the workplace atmosphere, because we’re competing with that region for talent. Charleston is really developing a vibrant third economy, around the tech community. We are competitively hiring talent from our own backyard and across the country.”

– Nate DaPore, President & CEO, PeopleMatter

partnering Business & Education

Richmond

79

gRee

nvill

e

102

200

lexingTon

168

Raleigh

183

119

knox

ville48

chaRleSTon

JackSonville

35

Savannah

21


key reasons for Decrease:• Numbers of patents lag• Decline in numbers of science-related

graduate students

off The chaRTS: auSTin 270Note: All comparative metros declined during this time period.

18

comp

eTiTi

vene

SS in

puTS

patEnts*Number of patents issued in an area, presented per 10,000 workers. *note: Multiple sources contend patents are an increasingly inaccurate measure of innovation. We will work to identify alternatives for the 2012 Scorecard.

EmploymEnt in tEChniCal profEssionsPercentage of employment in computer, science and engineering professions provides a measure of industry R&D.

sCiEnCE-rElatED graDuatE stuDEntsNumber of graduate students in science, engineering and health sciences, presented per 100,000 population, provides a measure of academic R&D.

0

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

thE inDiCators

2005 – 2009

= Increase in index value = Decrease in index value


Teaming up foR innovaTion: foRce pRoTecTion & muScreal-world Challenge:

Force Protection’s Mine-Resistant, Ambush-Protected (MRAP) vehicles provide proven blast protection for our troops, but shockwaves from roadside blasts can still cause debilitating traumatic brain injuries (TBIs).

innovative approach:Force Protection and the Medical University of

South Carolina (MUSC) have partnered to develop new technologies for preventing and treating TBI. The research conducted at The Force Protection Center for Brain Research at MUSC will benefit the U.S. military as well as others who may suffer brain trauma.

www.ThinkTBI.com

Connecting research with Business formationFour of the five startups headquartered in the

18-month-old SCRA MUSC Innovation Center are commercializing technologies conceived at MUSC.

thE BusinEss pErspECtivE“Before the SCRA MUSC Innovation Center, there wasn’t really anywhere where a small biotech startup could move without having to spend hundreds of thousands of dollars to build a facility. SCRA allowed us to move in, purchase equipment and almost immediately start producing product.”

– Ryan Fiorini, Co-Founder & Chief Operating Officer, Immunologix

innovaTive acTiviTy index


19

patents index, 2008U.S. Average - 100

1st 464.4

2nd175.4

3rd139.6

4th68.7

5th67.6

6th38.4

7th24.4

8th22.8

9th16.5

Austin Raleigh Lexington Greenville Knoxville Richmond Jacksonville Charleston Savannah

Patents per 10,000 workers

Source: Cluster Mapping Project, Institute for Strategy and Competitiveness, Harvard Business School

Employment in technical positions index, 2009U.S. Average - 100

1st 173.2

2nd148.5

3rd106.9

4th100.7

5th90.6

6th84.8

7th81.9

8th77.6

9th47.3

Austin Raleigh Richmond Lexington Greenville Charleston Jacksonville Knoxville Savannah

Percent of employment in computer, science, and engineering occupations


“we can’t graduate them fast enough, and we can’t hire them

fast enough. the next 10 years should be about basically building

a robust level of talent.” Ernest Andrade, director of the Charleston Digital Corridor, a public-private partnership that supports the growth of knowledge-based companies.

Source: Charleston Regional Business Journal, May 2011

Technical TalenT needed

inspiring future EngineersTheFIRSTRoboticsandFIRSTTechChallengeputtheFUN

inscienceandmath.Theyattractkidsofallagestoworktogetherinteamroboticscompetitions,buildingrobotsandhoningtheirmath,scienceandproblem-solvingskillsalongtheway.www.usfirst.org

Team342isourregion’soldestrecognizedFIRST*competitiveteam.Founded10yearsago,Team342nowhas40membersfromacrosstheregion.Thankstoitseffortstofosterinterestinmath,science&engineering,SPAWARrecentlyfundedfivenewareateams,becameaTeam342sponsoranddispatchednearly30mentorstoareateams.EmployeesfromBosch,BAESystemsandotherlocalbusinessesalsoserveasmentors. www.firstroboticsteam342.org

*FIRST = For Inspiration and Recognition of Science and Technology

Sources: Charleston Regional Business Journal, Team 342

science-related graduate students index, 2008U.S. Average - 100

1st 263.8

2nd226.4

3rd212.4

4th173.7

5th145.7

6th90.4

7th36.5

8th0.0

9th0.0

Lexington Raleigh Knoxville Austin Greenville Richmond Charleston Jacksonville Savannah

Graduate students in health science, science, and engineering per 10,000 residents

Source: NSF-NIH Survey of Graduate Students & Post-Doctorates in S&E

63memBeR companieS in chaRleSTon digiTal coRRidoR

comp

eTiTi

vene

SS in

puTS

20

enTRepReneuRial enviRonmenT index

75 125

auSTin

117

Ralei

gh

104

Savannah

82

gReenville

83

Richmond

87 lexingTon

92 93

JackSonville

97chaRleSTon

& knoxville


key reasons for increase:• Strong small business growth• Strong employment growth in

professional and technical services

why is this important? A supportive environment for entrepreneurs is key for new business creation and growth. Just as a favorable environment encourages new companies to put down roots, an unfavorable climate can cause successful startups to seek more hospitable communities.

thE inDiCatorsConCEntration of small

to miD-sizE BusinEssEsNumber of area businesses per 1,000 employees. A growing number of small to mid-size businesses over time correlates to a strong environment for new business creation.

BusinEss ChurningThe total number of establishment births and deaths as a percentage

of all area firms. The “churn” of innovative and efficient companies continuously replacing struggling establishments provides a measure of entrepreneurial activity.

propriEtors’ inComE sharEPercentage of an area’s income generated by self-employed business owners. A strong small business sector provides an

important seedbed for future entrepreneurs.

BusinEss sErviCEsShare of regional employment in the professional and technical services industries (NAICS 54). Entrepreneurs and small businesses are more successful in areas with well developed support systems.

2005 – 2009



incuBaTing STaRTupS spark CharlestonA low-cost

collaborative working space for entrepreneurs in any industry sector looking to find inspiration and knowledge from others. www.sparkchs.com

growing new farmers incubator projectInitiative fueled by Lowcountry Local

First; apprentices are matched with mentor farmers to learn the art and skill of farming. The Result: new farmers and food system leaders in the Lowcountry. Since the program’s inception in spring 2010, 40 full and part-time apprentices have completed the program.www.lowcountrylocalfirst.org

Charleston Digital Corridor’s flagship The City of Charleston recently opened

its second incubator for startup technology businesses, Flagship 2. With short-term leases and low rates, businesses start here, eventually grow into larger spaces, and ultimately add more jobs to the community.

THE

flagship success story:

• 25% growth in first 5 months of 2011

• Expects to grow from 45 employees to 100 by end of 2011, and then to double again in 2012

• Announced $7.2 million in new funding in May 2011, adding to $7 million previously raised

the Center for women Develops and inspires women

entrepreneurs with counseling, educational programs, mentoring matches, networking opportunities and microloans. Each year, the C4W helps over 500 women entrepreneurs build businesses. www.c4women.org


21

Concentration of small to mid-size Businesses index, 2008U.S. Average - 100

1st 110.4

2nd105.8

3rd104.1

4th100.6

5th97.3

6th96.1

7th89.6

8th88.6

9th86.5

Charleston Raleigh Jacksonville Savannah Austin Richmond Greenville Lexington Knoxville

Establishments per 1,000 Employees


Business Churning index, 2007U.S. Average - 100

1st 122.7

2nd117.6

3rd111.2

4th106.7

5th105.3

6th96.3

7th95.9

8th91.9

9th90.2

Jacksonville Austin Raleigh Savannah Charleston Greenville Richmond Knoxville Lexington

Business births + deaths divided by number of establishments


proprietors’ income share index, 2009U.S. Average - 100

1st 108.1

2nd104.9

3rd88.8

4th76.5

5th68.9

6th66.0

7th63.4

8th59.8

9th57.7

Austin Knoxville Lexington Charleston Richmond Greenville Raleigh Jacksonville Savannah

Proprietors’ Income as a share of total Income


Business services index, 2008U.S. Average - 100

1st 108.1

2nd104.9

3rd88.8

4th76.5

5th68.9

6th66.0

7th63.4

8th59.8

9th57.7

Austin Raleigh Knoxville Lexington Charleston Richmond Jacksonville Greenville Savannah

Percent of employment in professional, scientific, and technical services industries (NAICS 54)


Joining the ranks of renowned business celebs such as founders of Facebook, Mint.com and Living Social, Adam Witty of Charleston-based Advantage Media Group was named on Inc. Magazine’s 2011 list of America’s Coolest Young Entrepreneurs.

A 447% growth rate over 3 years earned local digital media company, Levelwing a spot on Inc. Magazine’s 2010 Inc. 500/5000 List, the magazine’s 29th annual list of fastest-growing private companies in America.

Forbes recognized SC Launch, an SCRA collaboration, as one of the 2010 Top Five Entrepreneurial Support Programs in the U.S.

SC Launch offers qualifying companies commercialization support, guidance and seed funding. SC Launch has assisted, helped form and/or land more than 178 companies since 2006.

2005 – 2009Re

poRT

oveR

view

22

QualiTy of place index

Raleig

h

110

75

Richmond

118

lexing

Ton

105109

Savan

nah

JackSonville

94 gReenville & knoxville

97

125

102chaRleSTon

96

auSTin


why is this important?In an increasingly competitive global economy, attracting and retaining a talented

workforce has become a critical economic development issue. With a strong demand for specialized knowledge and skills, highly educated workers have more flexibility in where they choose to live and work. As such, an area’s lifestyle attributes are more and more important to its long-term economic success.

thE inDiCatorsClimatE

Percentage of days with high temperatures between 50° and 80° F.

air QualityPercentage of days with air quality measured as “good” or “moderate” by the EPA.

CrimE ratEviolent crimes per 100,000 population.

travEl CongEstionPercentage of daily travel in congested conditions.

hEalthCarE aCCEssNumber of healthcare practitioner and technical occupations per

100,000 population provides a measure of access to healthcare professionals.

CulturE anD rECrEationEmployment in the arts, entertainment and recreation (NAICS 71) provides a measure of an area’s cultural and recreational opportunities.

key reasons for increase:• Reductions in still relatively

high violent crime rate• Growth within the creative

industries, arts and healthcare occupations

air Quality index, 2009U.S. Average - 100

1st (tie)100.2

1st (tie)100.2

1st (tie)100.2

1st (tie)100.2

1st (tie)100.2

1st (tie)100.2

2nd99.9

3rd99.6

4th99.4

Charleston Raleigh Greenville Lexington Richmond Savannah Jacksonville Austin Knoxville

Percentage of days with good or moderate air quality

Source: Environmental Protection Agency

Climate index, 2010U.S. Average - 100

1st 121.5

2nd105.6

3rd105.0

4th101.7

5th (tie)98.4

5th (tie)98.4

6th91.8

7th89.1

8th88.5

Charleston Savannah Jacksonville Austin Greenville Raleigh Richmond Knoxville Lexington

Percentage of days with high temperatures between 50 and 80 degrees

Source: Data collected from local airport weather stations. Data available through Weather Underground

City of north Charleston’s “reduce violence and gain trust program”2006 to 2009:• 61% decrease in homicides• 30% decrease in robberies• 34% decrease in aggravated assaults• 41% decrease in firearm aggravated assaults• 33% decrease in violent Crime index

problem: officers were assigned to a different area each day, reducing accountability, knowledge and relationship building.

solution: officers are now assigned to one geographic location throughout the year, which increases awareness of criminals and builds relationships with local residents and business owners.

Source: North Charleston Police Department




23

$646cost per commuter

24 gallons

excess fuel per commuter

27 hoursyearly delay per

commuter

what Congestion CostsCharleston region 2009

healthcare access index, 2009U.S. Average - 100

1st 155.4

2nd142.5

3rd122.1

4th119.7

5th103.6

6th102.8

7th101.1

8th88.3

9th76.3

Lexington Knoxville Charleston Richmond Savannah Jacksonville Greenville Raleigh Austin

Healthcare practitioners and technical occupations (29-0000) per 100,000 population


Culture and recreation index, 2008U.S. Average - 100

1st 123.9

2nd107.0

3rd101.9

4th101.8

5th99.3

6th93.8

7th87.9

8th72.3

9th65.5

Raleigh Charleston Jacksonville Lexington Richmond Savannah Austin Greenville Knoxville

Employment in arts, entertainment and recreation industries as percent of population (NAICS 71)


travel Congestion index, 2009U.S. Average - 100

1st 151.9

2nd149.6

3rd112.6

4th98.3

5th96.9

6th93.2

7th92.1

8th91.1

9th87.2

Richmond Savannah Greenville Knoxville Raleigh Charleston Austin Jacksonville Lexington

Percent of daily travel in congested conditions

Source: Texas Transportation Institute

Crime rate index, 2009U.S. Average - 100

1st 154.3

2nd146.5

3rd120.6

4th100.2

5th97.5

6th86.9

7th69.7

8th61.7

9thn/a

Raleigh Richmond Austin Savannah Lexington Knoxville Charleston Jacksonville Greenville

Violent crime rate per 100,000 population.

Source: Federal Bureau of Investigation

Creative Economy The creative industry accounts for 6.7% of the Charleston

region’s total workforce, is one of the top employers and has an annual economic impact of more than $1.4 billion in gross sales with a 7% higher hourly wage than the regional average.

Source: Texas Transportation Institute

violent crime is composed of four offenses: murder and non-negligent manslaughter, forcible rape, robbery

and aggrevated assault.

parliament Charleston Launched in 2008, Parliament

represents hundreds of individuals committed to helping the Charleston region realize its full potential as a creative community.

pecha kucha night is a mix of show-and-tell and open-mic that has become a forum for ideas on design, architecture and other forms of creativity. www.charlestonparliament.com/pecha-kucha

Creative industries

27,315JoBs (2008)

$1.4 Billionin rEvEnuE

(2009)

Source: Regional Technology Strategies, May 2010

2011 scorecard task forceChairmanBrice Sweatt, The InterTech Group

membersDeb Campeau ........... Trident Health Systems/The Education Foundation BoardMichele Canon ......... Berkeley Charleston Dorchester Council of GovernmentsDr. Mike Drews ........ Clemson University Restoration InstituteSally Ehrenfried ....... Blackbaud/The Education Foundation BoardShandon Fowler ....... Benefitfocus/ThinkTEC Advisory Board Greg Isley .................. Elliott DavisStuart Knight ............ MUSC Foundation for Research DevelopmentKellee McGahey ....... First FederalMadelyn Robinson ... Town of SummervilleMatt Sloan ................ Daniel Island Company/Lowcountry Housing Trust BoardDerek Willis ............. South Carolina Research Authority/SC Launch!Erica Wright ............. The Citadel/Charleston Young Professionals Board

produced for the community by the Charleston regional Development allianceThe Charleston Regional Development Alliance (CRDA) is a nonprofit economic development partnership representing Berkeley, Charleston and Dorchester counties. Supported and led by the region’s most influential business leaders, three county governments, largest municipalities and top academic institutions, the CRDA serves as a catalyst for long-term, sustainable economic growth in our three-county region by driving a global marketing effort to attract and retain the world’s best companies, entrepreneurs and professional talent. The CRDA invests in competitive research & analysis, serves as a regional resource and convener, and collaborates closely with other entities to ensure a globally competitive, sustainable regional economy.

to learn more about the CrDa, visit: www.charlestoneconomicdevelopment.com

research & analysisuniversity Center for Economic Development, Clemson university

Dr. David W. HughesProfessor and Program LeaderDepartment of Applied Economics and StatisticsClemson Institute for Economic and Community Development Dr. David L. BarkleyEmeritus ProfessorDepartment of Applied Economics and StatisticsClemson University Devin SwindallResearch AssociateClemson Institute for Economic and Community Development

Center for Business research, Charleston metro Chamber of CommerceThe Center for Business Research, a department of the Charleston Metro Chamber of Commerce, serves as the center for the compilation, interpretation and distribution of business and economic data for the three-county Charleston-North Charleston-Summerville metropolitan statistical area (MSA).

Designed & published bySC Biz News, publisher of the Charleston Regional Business Journal

view online at: www.crda.org/economicscorecard

We encourage you to spend time with this Scorecard, get to know the strengths and challenges identified for our region, and share with your colleagues and contacts. If you would like a Scorecard Task Force member to address your organization, please email [email protected].

Documents

2011 CRDA Economic Scorecard Full Report