2011 crda economic scorecard full report
DESCRIPTION
This 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.TRANSCRIPT
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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cTion
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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RepoRT oveRview
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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economic peRfoRmanceec
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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
Source: Bureau of Labor Statistics
- 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: Bureau of Economic Analysis
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
Rich
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Char
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on
Rale
igh
Lexi
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Aust
in
Sava
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Knox
ville
Jack
sonv
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Gree
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e
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
leve
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g aSS
eTS
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leveRaging aSSeTS
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
nced
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.
Source: Bureau of Labor Statistics
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
Source: Brookings Institution
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
10
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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enviRonmenT foR developmenT
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.
Source: Brookings Institution
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
gton
Jack
sonv
ille
Raleigh
Sava
nnah
Austi
n
Richmon
d
Greenv
ille
Knox
ville
Char
leston
$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
enviRonmenT foR developmenT
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enviRonmenT foR developmenT
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.
Social, culTuRal & inSTiTuTional enviRonmenTen
viRon
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foR d
evel
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14
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
Source: Bureau of Labor Statistics
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)
Source: Bureau of Labor Statistics
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.
Source: Bureau of Labor Statistics
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)
Source: U.S. Census Bureau
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
100uniTed STaTeS aveRage
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
The most recent values are compared to a 2005 baseline and do not imply year-to-year changes.
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
compeTiTiveneSS inpuTS
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
Source: Bureau of Labor Statistics
“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
100uniTed STaTeS aveRage
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
= Increase in index value = Decrease in index value
The most recent values are compared to a 2005 baseline and do not imply year-to-year changes.
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
compeTiTiveneSS inpuTS
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
Source: U.S. Census Bureau
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
Source: U.S. Census Bureau
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
Source: Bureau of Economic Analysis
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)
Source: U.S. Census Bureau
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
100uniTed STaTeS aveRage
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
= Increase in index value = Decrease in index value
The most recent values are compared to a 2005 baseline and do not imply year-to-year changes.
compeTiTiveneSS inpuTS
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
Source: Bureau of Labor Statistics
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)
Source: U.S. Census Bureau
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].