2013 charleston market facts

MARKET FACTs

Sponsored by

MARKET FACTS

2013

WelcomeDear Reader,

Holy cow! Its our 10th edition of Market Facts. Time has certainly flown, and the region has changed in significant ways. It has been great to be able to chronicle the changes in our regular print issues and to also be able to serve up a nice big book full of facts to give you some indication of where we are heading.

Ten years ago, when we came up with the original idea of publishing Market Facts, we envisioned it as a tool for our readers to use when composing new or updating existing business plans. It was actually born out of our need to gather facts and data to support our own expansion. When we found out what a pain it was to find everything we needed, we had an epiphany: Somebody ought to publish this stuff!

As the publication has grown, it has taken its place as the companion to our annual Book of Lists. The combination of the listings of the largest companies in most of the major business categories in the Book of Lists with the statistics and other data presented in Market Facts in chart, graph and table format gives you a pretty good grasp on what drives the regions business community.

Our creative director, Ryan Wilcox, is a master at presenting complex information in a way that is pleasing to the eye and easily understandable, and Market Facts is his tour de force. Each year, Ryan improves the layout by

including more art, shading and highlighting important facts, and by adding footnotes and explanations to help make the data more user-friendly. And new for this year, we engaged a researcher, Veronica Watson, a graduate of the University of South Carolinas Darla Moore School of Business with a masters degree in economics.

I extend my best wishes to you in the year to come and hope Market Facts aids you in improving the performance of your business planning. I also want to recognize our title sponsors, Pratt Industries, Quality Touch Janitorial Service and Trident Technical College Continuing Education, as well as all of our section sponsors and advertisers, for enabling us to provide this valuable resource for the regions business decision-makers.

Enjoy!

Grady JohnsonCEO and

Group Publisher

lowcountry newsroomManaging Editor - Andy Owens [email protected] 843.849.3142

Senior Copy Editor - Beverly Barfield [email protected] 843.849.3115

Staff Writer - Matt Tomsic [email protected] 843.849.3144

Staff Writer - Liz Segrist [email protected] 843.849.3119

Senior Graphic Designer - Jane Mattingly [email protected] 843.849.3118

Graphic Designer - Andrew Sprague [email protected] 843.849.3128

midlands newsroom Editor - James T. Hammond [email protected] 803.726.7545

Staff Writer - Chuck Crumbo [email protected] 803.726.7542

Special Projects Editor - Licia Jackson [email protected] 803.726.7546

Data Researcher - Elizabeth Fonte [email protected] 803.726.7544

Data Research Assistant - Micah Witherspoon [email protected] 803.726.7547

upstate newsroomEditor - Scott Miller [email protected] 864.235.5677, ext. 102

Staff Writer - Bill Poovey [email protected] 864.235.5677, ext. 104

Graphic Designer - Jean Piot [email protected] 864.235.5677, ext. 105

Graphic Designer - Mallory Baxter [email protected] 864.235.5677, ext. 115

lowcountry account executivesSenior Account Executive - Sue Gordon [email protected] 843.849.3111

Senior Account Executive - Robert Reilly [email protected] 843.849.3107

Account Executive - Sara Cox [email protected] 843.849.3109

Account Executive - Bennett Parks [email protected] 843.849.3126

President and Group Publisher - Grady Johnson [email protected] 843.849.3103

Vice President of Sales - Steve Fields [email protected] 843.849.3110

Creative Director - Ryan Wilcox [email protected] 843.849.3117

Director of Audience Development - Rick Jenkins [email protected] 864.235.5677, ext. 112

Event Manager - Kathy Allen [email protected] 843.849.3113

Audience Development & IT Manager - Kim McManus [email protected] 843.849.3116

Audience Development Specialist - Jessica Smalley [email protected] 864.235.5677 ext. 116

Special Projects Assistant - Melissa Verzaal [email protected] 843.849.3104

Event Planner - Jacquelyn Fehler [email protected] 864.235.5677, ext. 113

Accounting Manager - Vickie Deadmon [email protected] 864.235.5677, ext. 100

custom media divisionDirector of Business Development - Mark Wright [email protected] 843.849.3143

Account Executive - Rene Piontek [email protected] 843.849.3105

South Carolinas Media Engine for Economic Growth

Charleston Regional Business Journal (USPS 0018-822) is published biweekly, 27 times per year, including one special

issue in January, by SC Biz News. P.O. Box 446, Charleston, SC 29402.

Periodicals postage paid at Charleston, SC. Mailing address:

1439 Stuart Engals Blvd., Suite 200 Mount Pleasant, SC 29464.

Postmaster: Send address changes to: Charleston Regional Business Journal, P.O. Box 446, Charleston, SC 29402

SUBSCRIPTION INFORMATIONAnnual subscribers receive 26 issues of the Business Journal, plus five special supplements: The Book of

Lists, Profiles in Business, Event Planning Guide, Market Facts, and Giving.

One year (26 issues) for $49.95; two years (52 issues) for $84.95;

three years (78 issues) for $ 119.95.Subscribe, renew, change your address or pay your

invoice by credit card online at www.charlestonbusiness.com or call 843-849-3116.

The entire contents of this newspaper are copyright by SC Business Publications LLC with all rights reserved. Any reproduction or use of the content within this publication without permission is prohibited. SCBIZ and South Caroli-nas Media Engine for Economic Growth are registered in

the U.S. Patent and Trademark Office.

sc Business publications llc A portfolio company of Virginia Capital Partners LLC

Frederick L. Russell Jr., Chairman

coNTeNTSReal eSTaTe

Section Sponsor

DemogRaphicSSection Sponsor

eDucaTioNSection Sponsor

hoSpiTaliTy & TouRiSmSection Sponsor

BuSiNeSS ReSouRceSSection Sponsor

FiNaNcial SeRviceSSection Sponsor

employmeNT & ecoNomic DevelopmeNTSection Sponsor

impoRT/expoRT & DiSTRiBuTioNSection Sponsor

meDical & healTh caReSection Sponsor

goveRNmeNTSection Sponsor

4

30

44

60

76

24

36

54

68

86

www.charlestonbusiness.com | 2013 Market Facts 3

DemographicseDucation

meDical & health careemployment & economic Dev.

hospitality & tourismimport/export & Distribution

business resourcesfinancial services

real estate & constructiongovernment

TiTle SPONSORS

Cover Photo by Leslie Burden

The smallest details make the biggest difference. Charleston native John H. Brown, CEO, Quality Touch Janitorial Service, Inc. has believed firmly in this concept for the past 25 years. Our unique concern for the environment and for customer service is always at the top of our pri-

ority list; coupled with our high regard for extraordinary standards at competitive prices, you will not go wrong with QTJ Service. Our commitment to excellence has carried our name throughout the U.S., and each of our many clients enjoy peace of mind knowing that their facility will receive the same care and quality control as we would devote to our own back yard.

Our extensive client list, business affiliations and certifications are proof that there is no need to look further. We are experts in construction cleaning and in all-inclusive facility care, from the board-room to the restroom and everything in between. We take pride in our work; you will take pride in our results.

Savvy consumers know the importance of value. They know that to achieve good value, a product or service must strike a balance between quality and price.At Trident Technical College, we deliver value through quality education and affordability. Many benefit from this value as it creates a symbiotic relationship among individuals, businesses and economies. Our students receive top-notch education and training that prepare them to enter the workforce or pursue additional education. In turn, businesses and industries gain a pool of competent candidates who possess skills necessary to be productive employees. This relationship, created through TTCs value, supports local, regional and global economies.

We look forward to finding more ways to create value in the region we serve. Thanks for your con-tinued support!

Are the shipping materials you are using SAVING THE WORLD? Our products ARE!Pratt Industries has multiple locations in South Carolina to serve your packaging and recy-cling needs, including packaging material, brown box industrial shippers and full-color point-of-purchase displays. With engineering, assembly and fulfillment services, we will design and manufac-ture a display or custom package to fit your product, and we will build it, stock it and ship it!

Pratt Industries is a large, privately held, 100% recycled paper and packaging company with more than 4,000 highly skilled green-collar employees dedicated to sustainability. Pratt was founded in the USA some 20 years ago and has grown dramatically with manufacturing in more than 20 states.

Every day, Pratt paper mills recycle more than 3,000 tons of recovered paper. Every day, these mills produce enough 100% recycled paper to stretch from New York City to Los Angeles. Every day, this saves the equivalent of 51,000 trees, 21 million gallons of water and 12 million kilowatt-hours of energy.

Contact us today and let us help you with your packaging andsustainabilityefforts.

GOve

RNme

NTDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

4 Real eSTaTe & cONSTRucTiON | www.charlestonbusiness.com

Real eSTaTe & coNSTRucTioN

Commercial and residential real estate sales and new construction

have been booming throughout the Charleston area during the past 12

months. Market data, including absorption rates, closings and median

price, are all trending in a positive direction. Commercial real estate sales fig-

ures are so robust that many brokers and agents are concerned about dwin-

dling inventory as companies snap up office, retail and warehouse space on a

rising tide of increasing price per square foot.

At more than $850 million, the Charleston area saw the highest amount of

construction spending for the primary markets in the state. The region also

had the highest number of building permits issued across South Carolina, with

more than 4,500. Homebuyers and residents didnt need the numbers to tell

them, however, as construction crews hammered away on new homes and

renovations throughout the area. The Charleston area boasts the second-

highest median home prices in the state, the fewest days on the market and

the highest number of closings.

Section Sponsor

Fast Facts

10,596Total home sales in 2012 in the Charleston area.Page 6

5,320Homes taken off the

market, down 51% from

2007.Page 10

20.2%Percentage change in

housing building permits

filed in the Charleston

area from 2011 to 2012.Page 14

Summary: Median home sales prices continued their gradual recovery

toward 2008 levels. As South Carolina registered its highest number of

closed sales since 08, the Charleston trident area led the way in 2012, with

the fewest days on the market and the largest number of closed sales.

Real eSTaTe & cONSTRucTiON | www.charlestonbusiness.com6

GOve

RNme

NTDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

www.tridentconstruction.com 572-7600

Median home sales prices by year, 2008-12Property types: single-family detached, single-family attached, manufactured/mobile homes

Charleston-area housing market

Note: Inventory calculation is active listings plus contingent listingsSource: Charleston Trident Association of Realtors

$160K

$100K

$180K

$120K

$200K

$140K

$220K

$240K

$260K

Berkeley Charleston Dorchester

2008

2008

200820

09

2009

200920

10

2010

2010

2011

2011

2011

2012

2012

2012

$0-$99,9991,825 sold

$100,000-$199,9993,749 sold

$200,000-$399,9993,439 sold

$400,000-$999,9991,349 sold

$1,000,000 and more

234 sold

2012 sales by price range

Charleston MLS

Source: Charleston Trident Association of Realtors 2012 Annual Report

REal EstatE & constRuction | www.charlestonbusiness.com8

Governme

ntDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

New construction in the Charleston area


3,000

2,500

2,000

1,500

1,000

500Jan. 2008 2008

16.615.0

13.3

10.4

6.8

9.98.9

7.26.5

4.2

2009 2010 2011 2012

New Construction Previously owned

Jan. 2009 Jan. 2010 Jan. 2011 Jan. 2012

1,853Drop in new construction

inventory from peak in Jan. 2008

Months supply of new construction vs. previously owned

www.charlestonbusiness.com | REal EstatE & constRuction 9

GovernmentDemOGRaPhicS

eDucaTiONmeDical & healTh caRe

emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm

imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS

fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON

Days on the market until sale


140

120

100

110

130

90

80

70Jan. 2008 Jan. 2009 Jan. 2010 Jan. 2011 Jan. 2012

Town House/Condo Single-Family

119Average days on

the market for a

town house or condo

96Average days on

the market for a

single-family home


Governme

ntDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

HHOMMEES FRROMM THHEE $$3880SSHHHOOMMMEEESS FFRRROOMMM TTHHHEEE $$$ 8803388800SS

NONOW W

SESELL

INNGG

NONONOOWOWW

SESESEELELLLLILININN

GGNGG

PHPHASAS

EEPHPHH

AHASAASSEESSEE

IIIIII

Percentage of original sales price received in the Charleston area

Source: Charleston Trident Association of Realtors 2012 Annual Report Source: Charleston Trident Association of Realtors 2012 Annual Report

2008 2009 2010 2011 2012

100% 100% 100% 100% 100%

98% 98% 98% 98% 98%

96% 96% 96% 96% 96%

94% 94% 94% 94% 94%

92% 92% 92% 92% 92%

90% 90% 90% 90% 90%

88% 88% 88% 88% 88%

86% 86% 86% 86% 86%

84% 84% 84% 84% 84%

Withdrawn from the marketNumber of homes withdrawn from the Charleston-area real

estate market. This often happens when the seller cannot find

a buyer near the price level that has been set.

Year Number

2007 10,861

2008 10,134

2009 8,349

2010 8,254

2011 6,316

2012 5,320







Source: Realtytrac.com

Source: Charleston Trident Association of Realtors

600

400

300

500

200

100

0

2008 - Q3

Foreclosed properties sold

2013 - Q1



Comparison of foreclosure sales, 2012

No. of sales 581 1,272 518

% of all sales 19.98% 18.46% 21.12%

Avg. sale price $138,395 $199,315 $129,569

Avg. discount 27.15% 37.45% 20.45%

Top 5 areas for distressed residential property, 2012

Greater North Charleston ........ 38.6%

Wando/Cainhoy Area ................37.6%

James Island ...................................36.1%

Hollywood/Ravenel/Meggett ..34.0%

Rural Berkeley County ............... 31.0%

Summary: South Carolinas housing market saw new energy in 2012, with

closed sales up 12.5% to 53,375, the highest number since 2007. Sales

prices are recovering overall.

South Carolinahousing market

Real eSTaTe & cONSTRucTiON | www.charlestonbusiness.com12

GOve

RNme

NTDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

Source: S.C. Association of Realtors, 2012 Annual Report

Number of closed sales in S.C. Comparison of S.C. housing market, 2008-2012

$211,389Average price

$194,933Average price

$159,860Median price

$150,000Median price

122Days on market until sale

135Days on market until sale

95.7%% of list price received

94.9%% of list price received

2008 2009 2010 2011 2012

52,639

47,708 47,984 47,437

53,375

2008 2012

www.charlestonbusiness.com | Real eSTaTe & cONSTRucTiON 13

GOveRNmeNTDemOGRaPhicS





Source: S.C. Association of Realtors, 2012 Annual Report

Area median prices Days on the market Total closed sales

2012 Area Overview

1. Hilton Head Area $226,055

2. Charleston Trident $190,000

3. Beaufort $175,348

4. Piedmont Regional $149,700

5. Greater Greenville $148,700

6. Aiken $148,250

7. North Augusta $144,900

8. Greater Columbia $140,000

9. Coastal Carolinas $139,000

10. Sumter/Clarendon County $129,058

11. Western Upstate $126,750

12. Greater Pee Dee $125,000

13. Spartanburg $120,000

14. Greenwood $114,900

15. Southern Midlands $94,500

1. Charleston Trident 100

2. Greater Greenville 101

3. Greater Columbia 116

4. Hilton Head Area 127

5. Greater Pee Dee 127

6. Spartanburg 155

7. Piedmont Regional 157

8. Western Upstate 164

9. Greenwood 167

10. Coastal Carolinas 174

11. North Augusta 175

12. Sumter/Clarendon County 175

13. Beaufort 198

14. Aiken 209

15. Southern Midlands 240

1. Charleston Trident 10,596

2. Coastal Carolinas 8,973

3. Greater Greenville 7,659

4. Greater Columbia 7,587

5. Hilton Head Area 3,305

6. Western Upstate 2,910

7. Spartanburg 2,883

8. Piedmont Regional 2,461

9. Greater Pee Dee 1,538

10. Aiken 1,311

11. Beaufort 1,103

12. Sumter/Clarendon County 1,039

13. North Augusta 961

14. Greenwood 610

15. Southern Midlands 268

REal EstatE & constRuction | www.charlestonbusiness.com

Summary: Construction activity was up in almost all parts of the state, with

the Upstate logging an increase of more than 35% in 2012 compared with

2011 numbers. In the Charleston area, building permits were up by 20%. The

number of construction jobs also saw an increase.

South Carolinaconstruction trends

14

GOve

RNme

NTDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

AWARDED 5 TIMES

Contractor of the YearCharleston Chapter,

American Subcontractors Association of the Carolinas

&RZDUG+XQG&RQVWUXFWLRQ*URXS,QF:HVW0RQWDJXH$YH6XLWH1RUWK&KDUOHVWRQ6&ZZZFRZDUGKXQGFRP

*Rounding of dollar amounts affects some percentage calculations

Source: S.C. Association of Realtors

Housing building permits for S.C. citiesAnnual new privately owned housing units

Ranked by percentage change in total permits issued from 2011-2012

Ranked by percentage change* in total construction costs from 2011-2012

Cities Total 2011 Total 2012 % Change

Anderson 280 420 50.0%

Greenville-Mauldin-Easley 1,749 2,398 37.1%

Spartanburg 532 727 36.7%

Columbia 2,897 3,729 28.7%

Charleston-North Charleston-Summerville 3,822 4,593 20.2%

Sumter 345 299 -13.3%

Florence 389 313 -19.5%

Cities Total 2011 Total 2012 % Change

Anderson $49.8M $78.8M 58.3%

Spartanburg $61.3M $88.2M 43.9%

Greenville-Mauldin-Easley $431.9M $571.0M 32.2%

Charleston-North Charleston-Summerville $663.9M $867.4M 30.7%

Columbia $416.4M $500.3M 20.2%

Florence $47.9M $48.0M 0.2%

Sumter $36.5M $35.1M -3.9%







80.0

80.5

79.0

78.5

79.5

78.0

77.5

77.0

76.5

Construction jobs in S.C., seasonally adjusted (in thousands)

May 12 Nov. 12June 12 Dec. 12July 12 Jan. 13Aug. 12 Feb 13Sept. 12 Mar. 13Oct. 12 Apr. 13

77.1 77.2 77.0 76.976.7

78.6 78.5

78.8

79.5

80.5

79.6

80.3

Sources: Bureau of Labor Statistics

REal EstatE & constRuction | www.charlestonbusiness.com

Summary: Renters in the Charleston area have watched the average

monthly rent climb sharply since 2007. Paying the highest rent per square

foot are those in Mount Pleasant and James Island.

Charleston-area apartment market

16

GOve

RNme

NTDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

Source: Real Data, Charleston Apartment Index

Total apartment units - March 2012Average monthly rent in the Charleston area


7,420West Ashley 1,081

Central

3,368Goose Creek

1,022James Island

3,751Mount Pleasant

4,873North Charleston

7,067Summerville

$850

$800

$825

$775

$750

Aug. 2007 Feb. 2013$725







700 $700

750 $750

800 $800

850 $850

900 $900

950 $950

1,000 $1,000

1,050 $1,050

1,100 $1,100

Source: Real Data, Charleston Apartment Index

$1.06

$0.78$0.94

$1.12

$0.75$0.83

$0.83

73

5

1,0

48

1,0

69

98

6

96

7

99

2

96

7

$7

78

$8

14

$1,

013

$1,

106

$7

23

$8

23

$8

06

Central Goose Creek

James Island

Mount Pleasant

North Charleston

Summerville West Ashley650 $650

Charleston-area average rent rates

Average Sq. Ft. Average Rent Average Rent/Sq. Ft.

Avera

ge S

q. F

t.


Governme

ntDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

Homes selling faster, at higher pricesWere halfway through the year and it seems our col-

lective attention has shifted from monitoring price and

sales gains to eagerly anticipating more new listing ac-

tivity on the part of sellers.

S.C. Realtors

Source: S.C. Realtors, figures are year-to-date through May

Year-over-year gain in closed sales for the first five months of

2013

Year-over-year gain in median sales price of

$152,000

Decline in sales inventory

123Average number of days on the market, 17 fewer days than a year ago.

18.8% 4.0%

8.5%

S.C. foreclosures dropping but still highFigures for January through June 2013

In S.C.16,922 foreclosures during first six months

12.7% decline from a year ago

1 of 125 homes in foreclosure

7th highest foreclosure rate

In the U.S.801,538 foreclosures

23.4% decline

1 of 164 homes in foreclosure







Quarter Vacancy Net Average Rental Rate Absorption Rate (NNN)

2013 1Q 6.50% 53,468 sq. ft. $13.73

2012 4Q 6.90% 107,137 sq. ft. $13.56

2012 3Q 7.10% 78,173 sq. ft. $13.32

2012 2Q 7.20% 30,691 sq. ft. $13.56

Source: Lee and AssociatesNote: Data includes buildings larger than 10,000 sq. ft.

Historical office data trends Charleston market

Historical retail data trends Charleston market

Historical industrial data trends Charleston market

Vacancy Net Average Rental Quarter Rate Absorption Rate (Full-service)

2013 1Q 9.20% -85,314 sq. ft. $16.87

2012 4Q 8.20% 302,961 sq. ft. $17.76

2012 3Q 9.10% 153,317 sq. ft. $18.15

2012 2Q 9.90% -11,794 sq. ft. $18.05

Quarter Vacancy Net Average Rental Rate Absorption Rate (NNN)

2013 1Q 7.70% -51,422 sq. ft. $4.10

2012 4Q 7.60% 477,470 sq. ft. $4.03

2012 3Q 8.40% 252,728 sq. ft. $4.00

2012 2Q 8.80% -3,024,567 sq. ft. $4.03


Governme

ntDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON Industrial Buildings

Ranked by Available Square Footage

Address AvailableSquare Feet Clear Height(in feet) Dock-HeightTruck Doors WallType YearBuilt BrokerageFirm Broker Phone /Website1116 Newton WaySummerville, SC 29483 512,686 30 17 Tilt-Up 2008 CBRE Carmody LLC

843-577-0702www.cbrecharleston.com

300 Eagle RoadGoose Creek, SC 29445 284,750 20-30 23 Block 1973 CBRE Carmody LLC


1980 Technology DriveCharleston, SC 29492 253,500 30 69 Tilt-up 2007 CBRE Carmody LLC


1 Belt DriveMoncks Corner, SC 29461 240,000 13.5 4 Insulated Metal/Block 1950 CBRE Carmody LLC


0 Truxton Ave.North Charleston, SC 29405 220,000 45 1 Concrete 1935 Carolina Commercial LLC

843-805-6060www.carolinacre.com

5801 N. Rhett Ave.Hanahan, SC 29410 211,680 24-28 36 Pre-cast Concrete 1980 Colliers International

843-723-1202www.colliers.com/charleston

1301 Charleston Regional ParkwayCharleston, SC 29492 200,000 30 38 Concrete 2001 Colliers International


2725 W. Fifth North St.Summerville, SC 29483 200,000 20 16 Metal 1978 Lincoln Harris LLC

843-952-2060www.lincolnharris.com

320 Deming WaySummerville, SC 29483 170,000 28 12 Metal 1998 Lee & Associates Charleston

843-747-1200www.lee-charleston.com

324 Deming WaySummerville, SC 29483 170,000 28 6 Metal 1998 Lee & Associates Charleston


Source: Colliers International. INP=Information not provided. Because of space constraints, only the top-ranked companies are printed. For a full list ofparticipating companies, visit www.scbiznews.com/data. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions orcorrections to [email protected], fax to 803-726-7404 or go to www.tinyurl.com/joinourlists.

Researched by Elizabeth Fonte


Governme

ntDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON Industrial Buildings

Ranked by Available Square Footage

Address AvailableSquare Feet Clear Height(in feet) Dock-HeightTruck Doors WallType YearBuilt BrokerageFirm Broker Phone /Website3191 Ashley Phosphate RoadNorth Charleston, SC 29418 157,000 21 10 Metal 1978 Colliers International


3290 Benchmark DriveLadson, SC 29456 157,000 22 16 Insulated Metal 2000 Holcombe, Fair & Lane

843-722-2642www.hflcharleston.com

1124 Newton WaySummerville, SC 29483 146,610 32 56 Tilt-up 2007 Johnson Development Associates Inc.

843-853-0105www.johnsondevelopment.net

2550 W. Fifth North St.Summerville, SC 29483 136,680 20 17 Metal 1977 Colliers International


211 Farmington RoadSummerville, SC 29483 131,535 15.5-22 14 Metal/Block 1990 CBRE Carmody LLC


2650 Carner Ave.North Charleston, SC 29405 127,000 15 4 Block 1965 Coldwell Banker Commercial Atlantic International Inc.

843-744-9877www.cbcatlantic.com

4249 Crosspoint DriveNorth Charleston, SC INP 104,000 30 24 Concrete 2013 CBRE Carmody LLC


7391 Pepperdam Ave.Charleston, SC 29418 101,500 20 6 Metal 1977 Carolina Commercial LLC


7555 Palmetto Commerce ParkwayNorth Charleston, SC 29420 100,000 24 25 Metal 1989 Maybank Properties LLC

843-740-9200www.maybankproperties.com

1023 Legrand BoulevardCharleston, SC 29483 90,000 24 10 Concrete 1975 Lincoln Harris LLC

843-952-2060www.lincolnharris.com









Industrial BuildingsRanked by Available Square Footage

Address AvailableSquare Feet Clear Height(in feet) Dock-HeightTruck Doors WallType YearBuilt BrokerageFirm Broker Phone /Website4400 Arco LaneNorth Charleston, SC 29418 85,000 20 21 Metal/Brick 1975 Carolina Commercial LLC


9016 Palmetto Commerce ParkwayNorth Charleston, SC 29405 78,000 30 36 Concrete/Metal 2005 Cushman & Wakefield Thalhimer

843-724-0100www.thalhimer.com

1930 Hanahan RoadNorth Charleston, SC 29406 67,991 14 1 Metal 1975 Avison Young

843-725-7200www.avisonyoung.com

412 Industrial RoadSummerville, SC 29483 64,500 24 6 Metal 2000 CBRE Carmody LLC


1445 Greenleaf St.Charleston, SC 29405 60,705 25 1 Metal 1952 Clement, Crawford & Thornhill Inc.

843-577-6722www.cctre.com

219 Varnfield DriveSummerville, SC 29483 50,765 24 4 Metal 2008 Re/Max Pro Realty

843-767-7777www.remaxprorealty.net

4567 Piggly Wiggly DriveNorth Charleston, SC 29405 46,732 22 6 Metal 1960 Lee & Associates Charleston


4760 Goer DriveNorth Charleston, SC 29406 44,310 26 6 Concrete 2003 Simmons Realty

843-577-9600INP

212 Industrial RoadSummerville, SC 29483 44,000 18 2 Metal 1980 CBRE Carmody LLC


2509 Clements Ferry RoadCharleston, SC 29492 40,950 26 4 Metal 2000 Avison Young

843-725-7200www.avisonyoung.com



FiNaNcial SeRviceS

Section Sponsor

Fast Facts

$8 billionDeposits in Charleston-

area financial institutions.Page 26

$27 millionLoans guaranteed by

the U.S. Small Business

Administration in 2012 for

Charleston businesses.Page 27

$2.6 billionTotal mergers and

acquisitions deal value

in S.C. for 2012.Page 28

Small business loans in the Charleston area guaranteed through the

Small Business Administration were down slightly in 2012 compared

with 2011, but the amount of the money flowing into business develop-

ment was roughly the same, at $27 million.

With more than 21% of market share of deposits, Wells Fargo continued to

be the largest banking operation in the region as of June 30, 2012.

Charleston-based First Federal Bank, which has since merged with SCBT, held

the second-most deposits, at more than 14%, according to the FDIC. Bank of

America was close behind in third, with more than 13% of deposits.

Mergers and acquisitions across South Carolina accounted for $2.6 billion

in activity for 2012, including several large deals by Charleston development

company Greystar Real Estate Partners. The real estate manager and developer

was the No. 1 manager of apartment housing units in the U.S. for the second

year running.

24 fiNaNcial SeRviceS | www.charlestonbusiness.com

Tim Grow, CPAOffice Managing Shareholder

Weve helped businesses succeed through the Great Depression, the recent recession and every market in between.

For 88 years, Elliott Davis has advised businesses on how to run efficiently, grow wisely, be more profitable. Led by Office Managing Shareholder Tim Grow, our team provides everything from audit and tax solutions to highly specialized advisory services across the spectrum of industries.

fully engaged for you

)((;Yd`gmfKlj]]lKmal]+((;`Yjd]klgf$K;*1,()0,+&-//&/(,(ooo&]ddagll\Ynak&[ge

GOve

RNme

NTDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

26 fiNaNcial SeRviceS | www.charlestonbusiness.com

South Carolina banking trendsData as of March 31, the latest available, with year-over-year changes for insured banks in parentheses

Source: Federal Deposit Insurance Corp. Deposit Market Share report. Note: SCBT and First Federal have merged since this market report was issued.

% of S.C. banks that are unprofitablePercentages for the second quarter of each year

Boosting profitsCumulative second-quarter totals for insured banks in S.C.

71 Banks (-5)

9,430 Employees (+350)

$23.2B Loans (-0.4%)

$31.6B Deposits (+0.6%)

2010

2010

2011

2011

2012

2012

2013

2013

35% 31%

18% 14%

$50M

$20M

$0-$172M

Institution State HQ Charter No of Local

OfficesMarket Deposits

($000) Market Share

Wells Fargo Bank, National Association SD Federal 25 2,050,687 21.14%

First Federal Bank SC State 30 1,393,525 14.37%

Bank of America, National Association NC Federal 17 1,275,900 13.16%

Synovus Bank GA State 9 787,765 8.12%

First Citizens Bank and Trust Company Inc. SC State 21 634,587 6.54%

Branch Banking and Trust Company (BB&T) NC State 13 543,341 5.60%

CresCom Bank SC State 7 489,784 5.05%

SouthCoast Community Bank SC State 11 341,060 3.52%

The Bank of South Carolina SC State 4 277,943 2.87%

SCBT National Association SC Federal 7 251,469 2.59%

Deposit market share, Charleston-North Charleston-Summerville MSA, 2012

www.charlestonbusiness.com | Financial ServiceS 27






SBA lending on pace for another record in 2013Figures represent statewide data through June of the agencys

current fiscal year, which ends Sept. 30. Loans for both the 7(a)

and 504 programs are included.

FIRST 9 MONTHS OF FY2013

$188 millionALL OF FY2012

$223 millionAn 11.6% increase from FY 2011 and an annual record.

SBA Lending in the LowcountryFigures for the SBAs flagship 7(a) loan program in Berkeley,

Charleston and Dorchester counties

$5M

$10M

$15M

$20M

$25M

$30M

96loans

68loans

61loans

65loans

58loans

2008 2009 2010 2011 2012

Source: U.S. Small Business Administration, S.C. District OfficeSource: U.S. Small Business Administration, S.C. District Office

Financial services | www.charlestonbusiness.com28

Governme

ntDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

143 M&A deals

$2.6B reported transaction value

2013 begins with a big oneM&A activity began strong in 2013 with the $302 million

merger of Columbia-based SCBT Financial Corp. and First

Financial Holdings Inc. of Charleston. The deal created the

states fifth-largest bank with more than $5 billion in deposits

and 115 branches in South Carolina. Analysts have expected

more consolidation like this in the banking industry in South

Carolina.

M&A REPORT

A recap of 2012 mergers and acquisitions involving

companies or assets in South Carolina, based on data

from S&P Capital IQ.

MoSt aCtIvE BUyErS In S.C.Based on number of deals closed in 2012

3D Systems (Rock Hill) 6

SC Launch (Columbia) 6

Greystar Real Estate Partners (Charleston) 4

D&W Fine Pack (Fountain Inn) 2

www.charlestonbusiness.com | Financial ServiceS 29






top 5 aCqUISItIonSBy South Carolina-based companies in 2012

$642M Bi-Lo Inc. of Mauldin buys Winn-Dixie Stores on March 9, later relocates headquarters to Florida.

$169M Greystar Real Estate Partners of Charleston buys multiple California properties on Jan. 12.

$137M 3D Systems Corp. of Rock Hill buys Z Corp. and Vidar Systems Corp. on Jan. 3.

$75M Kemet Corp. of Simpsonville buys Niotan Inc. of Nevada on Feb. 21.

$71M Greystar Real Estate Partners acquires a Seattle apartment complex on Jan. 17.

MorE DEaLS For GrEyStarCharlestons Greystar Real Estate Partners was the largest apartment manager in the U.S. for 2012 with more than 192,000 units said a report from the National Multi Housing Council. In 2013, the company has increase its managed units by 5,800.

DemogRaphicS

Section Sponsor

Fast Facts

303,000Size of the labor force

in the three-county area.Page 32

Four of 10In the Charleston region,

four cities are among the

largest areas in the state.Page 33

48.7%Growth in Dorchester

County, the states fastest-

growing, from 2000-2013.Page 34

With nearly 700,000 residents, the Charleston region is one of

the most-populous areas of South Carolina. The region includes

Dorchester County, which was one of the fastest-growing counties

in the United States in the latest census and continues to post the highest

growth rate in the state.

Those numbers fuel a vibrant small business community, manufacturing

sector, and hospitality and tourism jobs across the region. The majority of that

population comes from residents age 19 and younger (25.9%) and residents in

the range of 34 to 54 (26.9%), according to Census Bureau reports.

That kind of growth comes with the highest cost of living in the state,

including the tourist-intensive Myrtle Beach, with groceries, utilities, health

care, and goods and services costing more than the national average. Wage

growth remains 15 percentage points below the national average in the

Charleston region, but in 2003 the area passed the state average for income.

30 DemOGRaPhicS | www.charlestonbusiness.com

GOve

RNme

NTDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

32 DemOGRaPhicS | www.charlestonbusiness.com

Mean travel time to work, in minutes

20 Minutes21 Minutes22 Minutes23 Minutes24 Minutes25 Minutes26 Minutes

How people get to work in the Charleston area

Source: U.S. Census Bureau

21.0LexiNgToN

21.8gReeNViLLe

22.5KNoxViLLe, TeNN.

24.4RiCHMoND, VA.

24.8CHARLeSToN

24.8JACKSoNViLLe, FLA.

24.9RALeigH

25.8AuSTiN, TexAS

25.5u.S. AVeRAge

23.8SAVANNAH


Workers 16 and older 80,314 166,280 56,617

Car, truck or van - drove alone 67,694 126,127 47,071

Car, truck or van - carpooled 5,677 15,969 6,146

Public transportation (excluding taxis) 790 4,083 146

Bicycle 258 1,880

Walked 2,699 5,126 587

Other means 1,268 781 579

Worked at home 1,658 12,314 2,088

www.charlestonbusiness.com | demographics 33

GovernmentDemographics

eDucationmeDical & health care

employment & economic Dev.hospitality & tourism

import/export & Distributionbusiness resources

financial servicesreal estate & construction

Average wage growth 2000-2011

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

$48,000

SOUTH CAROLINA

UNITED STATES

CHARLESTON MSA

2000: Charleston wages 78% of U.S. average

2003: Charleston surpasses S.C.

average

2010 2011

2011: Charleston wages 85% of U.S. average

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

City 2012 Estimates

Columbia 131,686

Charleston 125,583

North Charleston 101,989

Mount Pleasant 71,875

Rock Hill 68,094

Greenville 60,709

Summerville 44,719

Sumter 40,836

Goose Creek 38,579

Hilton Head Island 38,366

Florence 37,498

Spartanburg 37,401

Aiken 29,884

Myrtle Beach 28,292

Anderson 26,708

Greer 26,645

Mauldin 23,808

Greenwood 23,324

North Augusta 21,873

Easley 20,098

Hanahan 19,157

Lexington 19,141

Simpsonville 19,056

Conway 18,688

West Columbia 15,631

Largest S.C. cities, towns and census-designated places, by population

DemOGRaPhicS | www.charlestonbusiness.com34

GOve

RNme

NTDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

2012 Charleston-area populationBy county and major city

notaBLE nUMBErS


697,439 total population

48.7%more people in Dorchester

County the state's fastest-

growing county 2000-2013

Source: U.S. Census Bureaus 2012 Population Estimates, 2011 American Community Survey, 2000 Census

Charleston MSA population percentage by race 2011

Charleston MSA population percentage by age

19 & YouNgeR 20 - 24 25 - 34 35 - 54 55 - 64 65+

25.9%

7.9%

15.2%

26.9%

12.2%

11.7%

365,162Charleston

County

189,781BerkeleyCounty

142,496Dorchester

County

69,357Mount Pleasant

37,035Goose Creek

122,689Charleston

44,783Summerville

99,727North Charleston

White

67.2%

Asian

1.6%

Other

3.5%

Black or African-American

27.6%


www.charlestonbusiness.com | demographics 35






Overall Grocery Items Housing Utilities Transportation Health CareMisc. Goods and Services

Charleston 99 106 85 113 96 105 102

Columbia 95 103 76 118 106 100 96

Anderson 89 103 74 99 92 92 92

Greenville 93 102 74 98 97 102 102

Myrtle Beach 95 106 75 117 94 103 99

Spartanburg 94 103 79 90 98 100 102

Savannah 92 96 74 108 99 92 97

Charlotte 95 102 82 101 97 98 99

Atlanta 97 105 85 93 104 102 101

Richmond, Va. 102 103 91 106 101 114 109

Raleigh 91 102 71 105 96 96 96

Cost of living index

Source: The Council For Community and Economic Research

Time Period: 2012 Q1 - 2013 Q1

A score of 100 is equal to the national average. A score greater than 100 means it is more expensive, and a score less than 100 means it costs less.

Section Sponsor

Fast Facts

113%Job growth in computer

science and math fields

from 2000-2012.Page 38

$29 billionCharlestons gross

domestic product, second-

highest in the state.Page 40

62Patents filed in the

Charleston market in

2011, highest in S.C.Page 42

The Charleston regions burgeoning technology sector has resulted in

several spin-off companies that are considered some of the leaders in

the rise of Southeastern entrepreneurism. Companies and defense con-

tractors such as Space and Naval Warfare Systems Center Atlantic, Blackbaud

and Benefitfocus have led to many small software, service and engineering

companies entering the market. Industries that depend on computer science,

math and engineering continue to be the fastest-growing in the area.

The job growth and talent magnets surrounding these companies have

allowed three Charleston incubators to be built, along with another in North

Charleston and one in Mount Pleasant. The Boeing Co.s entry into the region

changed the character of manufacturing in South Carolina. The company plans

to hire thousands more line workers, engineers and information technology

employees as its commercial airlines division continues to expand.

The Charleston area has some of the lowest unemployment figures in

the state, though workers in rural areas continue to struggle through

the post-recession era.

employmeNT & ecoNomic DevelopmeNT

36 emPlOymeNT & ecONOmic DevelOPmeNT | www.charlestonbusiness.com

GOve

RNme

NTDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

38 emPlOymeNT & ecONOmic DevelOPmeNT | www.charlestonbusiness.com

Employment by sector in S.C.*Statewide employment, with year-over-year percentage gains in parentheses

10 fastest-growing job sectors in Charleston MSA,from 2000-2012

CONSTRUCTION MANUFACTURING FINANCIAL SERVICES

PROFESSIONAL SERVICES EDUCATION AND HEALTH HOSPITALITY GOVERNMENT

TRADE, TRANSPORTATION AND UTILITIES

Source: S.C. Department of Employment and Workforce, May report, latest available

Source: U.S. Bureau of Labor Statistics

200,000

100,000

300,000

400,000

(+5.39%)

(0)

(+0.71%)

(-0.88%)(+0.62%)

(+4.10%)

(+1.23%)

(+2.45%)

0% 20% 40% 60% 80% 100%

Computer and Mathematical Occupations 112.7%

Health Care Practitioners and Technical Occupations 77.6%

Architecture and Engineering Occupations 75.2%

Business and Financial Operations Occupations 69.0%

Personal Care and Service Occupations 66.7%

Arts, Design, Entertainment, Sports, Media Occupations 62.0%

Health Care Support Occupations 47.2%

Sales and Related Occupations 41.2%

Office and Administrative Support Occupations 33.3%

Food Preparation and Serving-related Occupations 32.0%

1

2

3

4

5

6

7

8

9

10

www.charlestonbusiness.com | EmploymEnt & Economic DEvElopmEnt 39






Why do more businesses choose Charleston Steel over the others?

Our experience and know how designs and completes every job eciently no

matter how big or small.

Our trucks transport metals of all kinds and sizes in containers or atbeds,

low-sides, hi-sides and dumps.Mobile Crews and Equipment.

Competitive Pricing...Prompt Payment

e LowCountrys Leader in Metal Recycling

www.charlestonsteelandmetal.com

We love challenges!

2700 Spruill Avenue N. Charleston, SC 29405

(843) 722-72783038 Highway 52 North

Mt. Holly, SC 29461

(843) 722-1340

Source: U.S. Bureau of Labor Statistics

South Carolinas annual unemploymentRates as of June 2013

12%

2%

4%

6%

8%

10%

0%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

June 2013 jobless rates

S.C. U.S.

7.6%U.S.

8.1%S.C.

7.3%Charleston

7.4%Greenville

7.9%Columbia

EmploymEnt & Economic DEvElopmEnt | www.charlestonbusiness.com40

Governme

ntDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON

Economic development by countyAnnouncements from the S.C. Department of Commerce

Gross domestic product by MSA in the Southeast, 2011

Berkeley County Charleston County Dorchester County

2011

2011

2011

2011

2011

2011

1,000 1,000 1,000

$125M $125M $125K

$250M $250M $250M

500 500 500

$0 $0 $00 0 0

2012

2012

2012

2012

2012

2012

Source: S.C. Department of Commerce

Job Recruitment Job Recruitment Job RecruitmentCapital Investment Capital Investment Capital Investment

Municipality GDP Ranking

Atlanta MSA $283B 10

Charlotte MSA $118B 23

Orlando, Fla., MSA $102B 30

Richmond, Va., MSA $67B 44

Jacksonville, Fla., MSA $61B 47

Raleigh MSA $59B 49

Birmingham, Ala., MSA $54B 50

Knoxville, Tenn., MSA $32B 69

Columbia MSA $32B 71

Charleston MSA $29B 75

Greenville MSA $27B 84

Asheville, N.C., MSA $14B 143

Savannah MSA $13B 144

Spartanburg MSA $11B 172

Anderson MSA $5B 290

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

www.charlestonbusiness.com | emPlOymeNT & ecONOmic DevelOPmeNT 41

GOveRNmeNTDemOGRaPhicS





Source: Center for Business Research, Charleston Metro Chamber of Commerce

Top 5 countries with presence in Charleston MSA

Company County investment Jobs

BMW Manufacturing Co. Spartanburg $900M 1,000

Michelin North America Inc. Lexington, Anderson $750M 500

JTEKT Automotive South Carolina Inc. Richland $130M 175

JTEKT Automotive South Carolina Inc. Greenville $102M 100

Nexans Berkeley $85M 200

Uniscite Inc. Laurens $70M 100

Albemarle Corp. Orangeburg $65M 20

Amazon.com Inc. Spartanburg $50M 0

Drive Automotive Industries of America Greenville $50M 60

Gonvarri Steel Services Union $50M 65

Millard Refrigerated Services inc. Charleston $42M 87

Schaeffler Group USA Inc. Chesterfield $40M 190

Tognum America Inc. Aiken $40M 20

Agru America Inc. Georgetown, Williamsburg $39M 126

Crescent Dairy & Beverages LLC Colleton $30M 60

Domtar Paper Co. LLC Marlboro $30M 0

Jones-Hamilton Co. Chester $29M 15

Honda of South Carolina Mfg. Inc. Florence $27M 65

Britax Child Safety Inc. York $26M 243

Top capital investment announcements in S.C. for 2012

Source: S.C. Department of Commerce

Germany ...............................................................3,417Robert Bosch LLC ...................................................... 2,200Behr Heat Transfer Systems Inc.................................375Getrag Precision Gear ...................................................235IFA Rotorion North America LLC .............................. 210Daimler Vans Manufacturing LLC ............................. 120Linde Material Handling NA ..........................................115Berchtold Corp. ..................................................................95Syn Strand Inc. .................................................................. 90Lanxess Corp. .....................................................................85

Britain ...................................................................1,995Cummins Turbo Technologies ...................................680BAE Systems EI&S .........................................................450Charleston Place ..............................................................325VT Milcom ..........................................................................275BP ..........................................................................................225

Japan ...................................................................... 720Showa Denko Carbon Inc............................................300Asahi Kasei Spandex America Inc. ........................... 170Sun Chemical .................................................................... 150TBC Corp. East Coast Distribution Center ............100

Switzerland ............................................................400Mediterranean Shipping Co. (USA) .........................290ADT Security Services .................................................... 110

Canada ................................................................... 330Gildan Activewear .......................................................... 230Streit USA Armoring ........................................................50Welded Tube - Berkeley .................................................50

EmploymEnt & Economic DEvElopmEnt | www.charlestonbusiness.com42

Governme

ntDe

mOGR

aPhic

SeD

ucaT

iONme

Dical

& he

alTh

caRe

emPl

Oyme

NT &

ecON

Omic

Dev.

hOSP

iTaliT

y & TO

uRiSm

imPO

RT/e

xPOR

T & Di

STRib

uTiON

buSiN

eSS R

eSOu

RceS

fiNaN

cial S

eRvic

eSRe

al eS

TaTe

& cON

STRu

cTiON Patents by MSA, 2011

70

60

50

40

30

20

10

6253

2516 3

Charleston Columbia Anderson Greenville Spartanburg

Source: U.S. Patent Office

0

Source: Institute for Strategy and Competitiveness at Harvard Business SchoolSource: Institute for Strategy and Competitiveness at Harvard Business School

Patents by organization Patents issued to organizations in the Charleston-North Charleston Metropolitan Area, 2006-10.

ORGANIzATION NO.

Hill-Rom Services Inc. 21

Force Protection Industries Inc. 7

Applied Medical Resources Corp. 6

Medical University of South Carolina 6

ArborGen LLC 5

MeadWestvaco Corp. 5

Force Protection Technologies Inc. 4

Voith Paper Patent GmbH 4

Sun Chemical Corp. 4

Rhodia Inc. 4

Quoizel Inc. 4

Netalog Inc. 4

ITT Manufacturing Enterprises Inc. 4

Albany International Corp. 3

U.S. Navy 3

Sunovion Pharmaceuticals Inc. 3

Sawgrass Technologies Inc. 3

Robert Bosch GmbH 3

Organ Recovery Systems Inc. 3

Nucor Corp. 3

Boston Scientific Scimed Inc. 2

Z-Man Fishing Products Inc. 2

The InterTech Group Inc. 2

Polymer Group Inc. 2

Penn State Research Foundation Inc. 2

MVP Textiles & Apparel Inc. 2

Microsoft Corp. 2

JW Aluminum Co. 2

Environmental Monitoring Systems Inc. 2

Alcoa Inc. 1

9.1U.S. Average

6.6Greenville MSA

2.4Columbia MSA

Patents per 10,000 Employees, 2010The number of patents issued in an

area per 10,000 employees.

2.3Charleston MSA

www.charlestonbusiness.com | EmploymEnt & Economic DEvElopmEnt 43






Largest public sector employers, Charleston MSA


Largest private-sector employers, Charleston MSA

Company product or Service Employees

Joint Base Charleston Area U.S. military commands 22,000

Medical University Of South Carolina (MUSC)

Hospital, postsecondary education, research

13,000

Charleston County School District

Education 5,300

Berkeley County School District

Education 3,700

Dorchester County School District 2

Education 3,100

Charleston County Local government 2,100

College of Charleston Postsecondary education 2,000

City of Charleston Local government 1,600

Santee Cooper Electric and water utility 1,200

U.S. Postal Service Postal service 1,100

Berkeley County Local government 1,000

City of North Charleston Local government 1,000

Company product or Service Employees

Boeing South Carolina Aircraft manufacturing 6,000

Roper St. Francis Healthcare

Hospital system 5,100

JEM Restaurant Group Inc.

Taco Bell and Pizza Hut franchises in the Charleston MSA

3,000

Trident Health System Hospital system 2,500

Wal-Mart Stores Inc. Retail merchandise 2,300

Robert Bosch LLC Antilock braking systems, fuel injectors, common rail & unit injectors

2,200

Piggly Wiggly Carolina Co. Inc.

Grocery wholesaler/retailer headquarters, distribution center

1,800

SAIC System engineering and integration services

1,800

Nucor Steel Steel roll & steel beam manufacturing

1,500

Kiawah Island Golf Resort/The Sanctuary at Kiawah

Resort 1,500

Blackbaud Inc. Specialty computer software development & design

1,300

Publix Supermarkets Retail grocery stores 1,200

Verizon Wireless Inbound/outbound call center for communications company

1,200

Photo/U.S. Air Force, Senior Airman George Goslin

eDucaTioN

Section Sponsor

Fast Facts

$12,000Dorchester District 4

spends more per pupil

than any area district.Page 46

$45,000Charleston County teach-

ers earn less on average

than others in the region.Page 46

13.4%Charleston County has the

highest rate of graduate

and professional degrees.Page 48

As manufacturing and other sectors grow in the Charleston region, hous-

ing and education will remain in high demand. Families with children

often look at education as an indicator of where they might choose to

live, which drives up prices and demand for specific locations.

Every school district in the tri-county area received an absolute rating of

average, good or excellent from the S.C. Department of Education.

The region includes a selection of higher education options, including several

MBA programs and certification programs for those seeking continuing educa-

tion for professional services or trade sectors.

With more than 5,200 degrees awarded in the 2011-2012 school year,

Charleston-area postsecondary education institutions rank behind only Clem-

son and the University of South Carolina in degrees awarded. The Citadel and

the College of Charleston have some of the highest graduation rates among

public higher education institutions in South Carolina.

44 eDucaTiON | www.charlestonbusiness.com

Charleston-area school districts

Gove

rnme

ntDe

moGr

aphic

seD

ucat

ionme

Dical

& he

alth

care

empl

oyme

nt &

econ

omic

Dev.

hosp

italit

y & to

urism

impo

rt/e

xpor

t & Di

strib

ution

busin

ess r

esou

rces

finan

cial s

ervic

esre

al es

tate

& con

stru

ction

46 eDucation | www.charlestonbusiness.com

Berkeley County School District229 E. Main St.Moncks Corner, SCwww.berkeley.k12.sc.usGrades PK-12Superintendent, Rodney ThompsonBoard Chairman, Doug CooperNo. of Schools ................................39No. of Magnet Schools ...................3

State Report Card Absolute Rating 2012 ..............................................Good2011 ......................................... Average

Charleston County School District 75 Calhoun St.Charleston, SC 29401www.ccsdschools.comGrades PK-12Superintendent, Nancy J. McGinleyBoard Chairwoman, Cindy Bohn CoatsNo. of Schools ................................84No. of Charter Schools ...................8No. of Magnet Schools ................26

State Report Card Absolute Rating 2012 ..............................................Good2011 ...............................................Good

Dorchester School District 2 102 Green Wave Blvd.Summerville, SC 29483www.dorchester2.k12.sc.usGrades PK-12Superintendent Joseph R. Pye Board Chairwoman, Gail HughesNo. of Schools ................................. 21No. of Magnet Schools .................. 0

State Report Card Absolute Rating 2012 .......................................Excellent2011 ...............................................Good

Dorchester School District 4500 Ridge St.St. George, SC 29477www.dorchester4.k12.sc.usGrades PK-12Superintendent, Jerry G. Montjoy Board Chairman, Kenneth JenkinsNo. of Schools .................................. 6No. of Magnet Schools .................. 0

State Report Card Absolute Rating 2012 ........................................ Average2011 ......................................... Average

School district mapIn Dorchester County, the districts divide along Eagle

Drive, Indigo Road and Cummings Chapel Road.

S.C. Department of Education

Student enrollment

Average SAT scores, 2012

Per-pupil expenditure

Average teacher salary

Berkeley

Berkeley

Berkeley

Berkeley

Charleston

Charleston

Charleston

Charleston

Dorchester 2

Dorchester 2

Dorchester 2

Dorchester 2

Dorchester 4

Dorchester 4

Dorchester 4

Dorchester 4

10,000

1,300

$2,500

$42,000

20,000

1,350

$5,000

$44,000

30,000

1,400

$7,500

$46,000

40,000

1,450

$10,000

$48,000

50,000

1,500

$12,500

$50,000

Students per teacherX

23.7

21.3

23.3

18.9

eDucation | www.charlestonbusiness.com48

Gove

rnme

ntDe

moGr

aphic

seD

ucat

ionme

Dical

& he

alth

care

empl

oyme

nt &

econ

omic

Dev.

hosp

italit

y & to

urism

impo

rt/e

xpor

t & Di

strib

ution

busin

ess r

esou

rces

finan

cial s

ervic

esre

al es

tate

& con

stru

ction Educational attainment

Population 25 and older

S.C. Department of Education

Did not graduate high school

High school graduate (includes equivalency)

Some college, no degree

Associate degree

Bachelors degree

Graduate or professional degree

BerkeleyCounty

14.8% 11.7% 12.2%

31.6%

23.2%

31.4%

24.7% 20.5% 22.0%

8.6% 23.4%

7.8%

10.5%

13.3%16.4%

7.7% 13.4% 7.4%

CharlestonCounty

DorchesterCounty

Contributing factors:

Strong population growth two times faster than the U.S.

People want to live here No. 24 for in-migration among

U.S. metros.

More students enrolled at area colleges and universities.

Source: Charleston Regional Development Alliance 2012 Economic Scorecard

Charleston recognized as top U.S. metro for brain gainLeads U.S. in growth over the past 10 years in

percentage of adults with college degrees.

Education | www.charlestonbusiness.com50

Governme

ntDe

moGr

aphic

seD

ucat

ionme

Dical

& he

alth

care

empl

oyme

nt &

econ

omic

Dev.

hosp

italit

y & to

urism

impo

rt/e

xpor

t & Di

strib

ution

busin

ess r

esou

rces

finan

cial s

ervic

esre

al es

tate

& con

stru

ction

$12,000

$10,000

$14,000

$8,000

$6,000

$4,000

$2,000

College tuition & fees

Degrees awarded by public institutions, 2011-2012

7,161

The Citadel

**Medic

al Unive

rsity

of S.C.

793

S.C. StateCharleston SouthernUniversity

S.C. Sta

te

742578

USC - Columbia

Source: S.C. Commission on Higher Education for public universities* Excludes medicine, law and pharmacy

** Excludes medicine, dentistry and pharmacy; includes nursing and health professions only

10,000

8,000

6,000

4,000

2,000

0

0

College of Charleston

College

of Cha

rleston

2,351

Trident Technical College

Trident

Techni

cal

College

2,645

Clemson

Clemson

4,732

Medical University of S.C.

790

S.C. general funds allocated to higher-ed institutionsDuring the past decade, state

support for public colleges and

universities has steadily

decreased, leaving them more

dependent on tuition. In a recent

year, state support per full-time

student in South Carolina was

18% below the national average.

The Cita

del

*USC -

Columb

ia

2008-2009 2012-2013

School FY 09 FY 14 % Change

The Citadel $15,745,501 $8,940,908 -43.2%

College of $33,252,307 $19,449,861 -41.5% Charleston

Medical $94,622,513 $58,244,151 -38.4% University of S.C.

Trident Technical $16,031,159 $13,900,000 -13.3% College

Sources: S.C. General Assembly and Trident Technical College

www.charlestonbusiness.com | Education 51

GovernmentDemoGraphics





Graduation ratesThe most recent graduation rates for selected S.C. higher

education institutions. First-time freshmen are given six

years to complete their undergraduate degrees.

Clemson . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76.2%

The Citadel . . . . . . . . . . . . . . . . . . . . . . . . . . .71.8%

USC - Columbia . . . . . . . . . . . . . . . . . . . . . . 67.6%

College of Charleston . . . . . . . . . . . . . . . . . 66.1%

Winthrop . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54.5%

Coastal Carolina . . . . . . . . . . . . . . . . . . . . . . 43.0%

Lander . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42.2%

Francis Marion . . . . . . . . . . . . . . . . . . . . . . .40.0%

S.C. State . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39.3%

USC - Upstate . . . . . . . . . . . . . . . . . . . . . . . . 38.6%

USC - Aiken . . . . . . . . . . . . . . . . . . . . . . . . . . 38.0%

Charleston Southern University . . . . . . . . 38.0%

USC - Beaufort . . . . . . . . . . . . . . . . . . . . . . . .19.7%

Source: S.C. Higher Education Statistical Abstract 2011

S.C. tech collegesThe state has 16 technical colleges, including

Trident Technical College in the Charleston area.

98,318 students are enrolled statewide.

52% of all undergraduates in public higher education during the fall 2011 semester were enrolled at one of the colleges within the S.C. Technical College System.

16,338 students graduated from a technical college after the 2010-11 school year.

32% of the graduates received health sciences degrees.

Source: S.C. Technical College System

eDucation | www.charlestonbusiness.com52

Gove

rnme

ntDe

moGr

aphic

seD

ucat

ionme

Dical

& he

alth

care

empl

oyme

nt &

econ

omic

Dev.

hosp

italit

y & to

urism

impo

rt/e

xpor

t & Di

strib

ution

busin

ess r

esou

rces

finan

cial s

ervic

esre

al es

tate

& con

stru

ction

S.C. Education Lottery distribution

Source: S.C. Education Lottery

Higher educationTuition Assistance Technical and Two-year Colleges............... $49,100,000

Life Scholarship ................................................ $107,236,237

S.C. Hope .................................................................. $7,779,856

Palmetto Fellows ............................................... $30,777,240

Need-based grants ............................................. $15,631,566

National Guard ..................................................... $1,700,000

Higher Education Excellence Enhancement Program .......................................... $50,000

Technology for S.C. Public Four- and Two-year Institutions ...................... $9,801,816

Tuition grants ........................................................ $9,266,604

S.C. State E&G .................................................. $2,500,000

K-12K-5 Reading, Math, Science & Social Studies Program ..................................... $26,291,798

6-8 Reading, Math, Science & Social Studies Program .................................... $2,000,000

School Buses .......................................................... $6,267,000

State Library Aid to County Libraries .......... $733,000

Deferred Maintenance, Technical Colleges ............................................... $5,234,685

Deferred Maintenance, Four- and Two-year Institutions ..................... $14,765,315

S.C. School for the Deaf and Blind Technology Replacement ................................... $200,000

Gambling Disorders ................................................. $50,000

Budget & Control Board & DAODAS

www.charlestonbusiness.com | eDucation 53






S.C. Education Lottery by county

Source: S.C. Education Lottery


$16,911,440K-12

42,648Scholarship awards

$53,293,951Scholarship amounts

$424,083Library totals

$35,744,966K-12


$11,388,593Scholarship amounts


$15,848,845K-12


$51,209,083.97Scholarship amounts


Section Sponsor

Fast Facts

$7.1 billionThe value of goods

imported to South Carolina

from Germany, the states

top importing country.Page 56

-12%Cargo totals for 2012,

compared with 2008.

Totals are up since 2009.Page 56

75,234Container units of auto

parts imported through the

port the top commodity.Page 58

As the economic driver for small, medium and large businesses in

the Charleston area and South Carolina, the Port of Charleston

has stayed on an upward trend that keeps pace with the grow-

ing local and regional economies.

The S.C. State Ports Authority will open the S.C. Inland Port in Greer

this year, which will connect Charlestons waterfront to millions of peo-

ple and businesses in proximity to the Upstate of South Carolina.

With the number of ships calling on the Port of Charleston up 3%,

the port saw a significant increase in pier tonnage from 2011 to 2012

but saw only a slight increase in the number of 20-foot equivalent

units, a standard measure of cargo for container ports.

The port continues to grow revenue as the eighth largest port in the

United States. Operating revenues for the Port of Charleston last year

were the highest theyve been since 2009. South Carolina imports more

from Germany than any other country. Canada receives the most ex-

ports from the state.

Import/Export & DIstrIbutIon

import/export & Distribution | www.charlestonbusiness.com54

Gove

rnme

ntDe

moGr

aphic

seD

ucat

ionme

Dical

& he

alth

care

empl

oyme

nt &

econ

omic

Dev.

hosp

italit

y & to

urism

impo

rt/e

xpor

t & Di

strib

ution

busin

ess r

esou

rces

finan

cial s

ervic

esre

al es

tate

& con

stru

ction

import/export & Distribution | www.charlestonbusiness.com56

Port statsThe S.C. State Ports Authority continues rebuildling

its business since the Great Recession.

Annual TEUs

Cargo and ships

200,0001,840

Charleston Georgetown Port Royal

1,793

1,528

1,695

1,745$129.1M

$11,000$1.1M

200,000

400,000

600,000

800,000

1,000,000

Pier containers

IMPORTS EXPORTS

08 09 10 11 12

YEAR

20-foot equivalent units

Pier tons Ships docked

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1,600,000

1,800,000

0809

10 1112

Operating revenues

Operating revenues by port, 2012

Top 5 countries exporting to S.C., 2012

Top 5 countries importing from S.C., 2012

08

09

10

1112

$165.1M

$136.2M

$111.7M

$124.6M$130.9M

$50M

$100M

$150M

$0

Source: S.C. State Ports Authority

Source: U.S. Census Source: U.S. Dept. of Transportation Maritime Division

Germany $7.099B

China $5.450B

Mexico $2.784B

Canada $2.618B

Japan $1.426B

Canada $3.958B

Germany $3.746B

China $3.250B

Mexico $1.978B

United $1.352BKingdom

U.S. waterborne total by U.S. Customs port, 2011

Los Angeles $381.8B Houston-Galveston, Texas $242.7B New York City $207.9B New Orleans $153.2B Seattle $87.9B Savannah $85.7B San Francisco $69.3B Charleston $59.0B Norfolk, Va. $55.0B Philadelphia $54.3B Baltimore $51.4B Miami $50.1B

1

2

3

4

5

6

7

8

9

10

11

12

1

7

2

35

4

12

8

9

1110

6

import/export & distribution | www.charlestonbusiness.com58

Governme

ntDe

moGr

aphic

seD

ucat

ionme

Dical

& he

alth

care

empl

oyme

nt &

econ

omic

Dev.

hosp

italit

y & to

urism

impo

rt/e

xpor

t & Di

strib

ution

busin

ess r

esou

rces

finan

cial s

ervic

esre

al es

tate

& con

stru

ction

Source: PIERS Trade Intelligence, www.piers.com.Volume is measured in TEUs, which stands for 20-foot equivalent units, the measure of a standard container.

Top Commodities Imported Through Port of Charleston, 2012

2. Furniture37,212 TEUs

1. Auto parts75,234 TEUs

3. Auto and truck tires and tubes

33,393 TEUs

5. Fabrics, including raw cotton19,932 TEUs

4. Construction and building equipment

19,977 TEUs

Top Commodities Exported Through Port of Charleston, 2012

3. Logs and lumber

28,314 TEUs

1. Paper and paperboard, including waste

95,209 TEUs

2. Wood pulp46,798 TEUs

4. Auto parts23,379 TEUs

5. Fabrics, including raw cotton15,546 TEUs

www.charlestonbusiness.com | Import/Export & dIstrIbutIon 59






Company Product Employees

Gildan Activewear Import and distribution of apparel 250 to retailers; retail division administration operations

DiMare Johns Island Inc Wholesale agricultural 250 products distribution

Quoizel Inc. Distribution of decorative 225 lighting products

Southern Eagle Distributing Beer distributor 215

Piggly Wiggly Distribution Center Grocery products distribution 200

Berchtold Corp. Manufacture & distribute surgical 180 equipment; corporate headquarters

Fruit of the Loom Undergarments 160 Palmetto Distribution Center

Hagemeyer North America Electrical/industrial equipment 150 & tools distribution

Kinder Morgan Distribution terminals for bulk 145 materials including chemicals and petroleum products; Southeast Regional Office

Moulton Logistics Management Direct-response order fulfillment 125

Linde Material Handling N.A. Distribution of industrial 115 & commercial machinery

TBC Corp. East Coast Tire distribution 100Distribution Center

Charleston MSAs largest employers in distribution industry


30,000

40,000

50,000

60,000Ja

n. 2

009

-

April

200

9 -

July

200

9 -

Oct.

2009

-

Jan.

201

0 -

April

201

0 -

July

201

0 -

Oct.

2010

-

Jan.

201

1 -

April

201

1 -

July

201

1 -

Oct.

2011

-

Jan.

201

2 -

April

201

2 -

July

201

2 -

Oct.

2012

-

30,000

40,000

50,000

60,000

Jan.

200

9 -

April

200

9 -

July

200

9 -

Oct.

2009

-

Jan.

201

0 -

April

201

0 -

July

201

0 -

Oct.

2010

-

Jan.

201

1 -

April

201

1 -

July

201

1 -

Oct.

2011

-

Jan.

201

2 -

April

201

2 -

July

201

2 -

Oct.

2012

-

Top commodities imported volume in TEUs

Top commodities exported volume in TEUs

Section Sponsor

Fast Facts

4.9 millionCharleston visitors in 2012,

nearly 8% more than 2011.Page 62

$22Increase in daily tourism

spending in 2012,

compared with 2010. Page 63

210,283Number of visitors to area

attractions in April 2012,

the years biggest month.Page 65

The hospitality and tourism sector, including culinary arts, hotel

stays, music, theater and retail, pumps millions of dollars into

the Charleston economy each year and is a major driver of

2013 charleston market facts

Documents

hope market facts

edition of market facts

important facts

business planning

regions business community

major business categories

existing business plans

staff writer chuck crumbo