Posted on January 17, 2024
South Carolina (SC) Ports has revealed an annual economic impact of $22.3 billion in the Midlands region each year by moving cargo for port-dependent businesses.
This is a quarter of SC Ports’ $87 billion annual economic impact across the state, according to a recent study by research economist and University of South Carolina Professor, Joseph Von Nessen.
New data show a 43 per cent increase in economic impact in the Midlands since the previous study was performed in 2019.
“These numbers show that SC Ports’ value to South Carolina extends well beyond the Port of Charleston,” SC Ports President and CEO, Barbara Melvin, said.
“In the Midlands, we’re supporting advanced manufacturers, healthcare companies, retailers, and paper producers, moving goods for large companies and small businesses alike. These relationships with our customers provide a proven economic benefit to Midlands residents.”
By keeping freight moving for SC companies, SC Ports has reported that it directly and indirectly supports more than 67,000 jobs in the Midlands, with labour income totalling $4.5 billion.
“SC Ports is a tremendous asset to South Carolina,” SC Ports Board Chairman, Bill Stern, said.
“A well-run port system brings world-class businesses to the state, which in turn means good-paying jobs and opportunities right here in the Midlands. SC Ports is proud to be a true economic engine for our state’s residents.”
Looking at South Carolina overall, port operations support 260,000 jobs, meaning 1 in 9 jobs in South Carolina are tied directly or indirectly to SC Ports.
“Port operations attract port-dependent businesses to locate or expand throughout the state, generating billions in economic impact and supporting thousands of jobs for South Carolinians,” Nessen said.
“Our state’s economic success is directly linked to SC Ports’ continued growth.”