Smiling Faces, Beautiful Places! The Charleston area is a great location rich with historical charm, and a variety of resources. The Charleston metropolitan area is among one of the best places to live in the nation. Comprised of Berkeley, Charleston and Dorchester counties, the Charleston metropolitan area stretches along the central and southern South Carolina coast with 90 miles of Atlantic oceanfront and reaching inland to the I-26 and I-95 intersection. One can only describe our economy as robust and consistent.
Charleston will always remain an intriguing blend of old mixed with new. Our economic mix is well balanced and we have one of the largest containerized cargo ports on the South Atlantic and Gulf coasts. While the Charleston Metropolitan area continues to grow and flourish, its rich, historic charm and cultural sophistication are evident throughout the Lowcountry. The successful blend of tourism, transportation services, health care, military installations and industry has resulted in a 6.8% population growth since 1990. The U.S. Navy is once again the areas largest single employer with recent expansions and the new the Nuclear Power Training Center.
1. US Navy.........................................9,414
2. Medical University of SC................8,000
3. Charleston, Goose Creek and Summerville Air Force Base............5,292
4. Charleston, Goose Creek and Summerville County Schools...........4,865
5. Care Alliance Health Services.......4,500
6. Berkeley County Schools..............3,311
7. Charleston, Goose Creek and Summerville County........................2,243
8. Westvaco......................................2,200
9. Trident Health System..................1,882
10. Robert Bosch Corporation..........1,800
A few of the Large Employers include Bayer, Dupont, Amoco, ALCOA, State Ports Authority, US Coast Guard, Us Army, Bell South, Charleston, Goose Creek and Summerville Place Hotel, Coastal Council, City of Charleston, Goose Creek and Summerville, SCE&G, Santee Cooper, LINQ Industries, Kiawah Island Resort, Inter-Tech Group, Post & Courier, US Postal Service, Titan Systems Corp, SPAWAR, Piggy Wiggly Distribution and coming soon Sam's Club Food Distribution Center.
The region boasts a multi-billion-visitor industry bringing 3.9 million visitors with an annual economic impact of $3.99 billion. It has one of the Southeast's most impressive medical hubs employing more than 25,000 with an economic impact of over $1 billion annually. Twelve hospitals now serve the area. The Port of Charleston Battery handles more than $29 billion in cargo with volume expansion for the eighth consecutive year, attracts numerous new companies and supports 15,000 jobs locally. Charleston is a well-established base of national and international manufacturers, as well as a maintaining large military presence. Arts, recreational and cultural opportunities are abundant, including museums, music, dance and theater, as well as water sports, golf, hunting, fishing, horseback riding and more.
The diverse group of manufacturers located throughout the tri-country area maintains a stable economy and South Carolina's tax-incentive structure for business development, the location and the superior work force makes South Carolina the fifth most industrial state in the nation. The Charleston region ranked #4 in the United States for attracting capitol investments ($476,717,593) from European countries.
The new $631 million dollar Cooper River Bridge is approved with construction well underway. When completed, the eight-lane bridge with bicycle and pedestrian accommodations will be the largest cable stayed bridge in North America and rise 570 above the water. It will have a 1,546-foot center span and feature two diamond shaped towers.
South Carolina maintains the reputation as a business friendly state, which serves the Charleston region well. Tax incentives including a fee-in-lieu of taxes arrangement can save a business 40 percent on it's property tax bills over a 20 year period and a low five percent corporate tax rate, one of the lowest in the country continues to attract firms to the state. The entire region has been designated as a state Free Enterprise Zone and with numerous Foreign Trade Zones; the local governments of Charleston, Berkeley and Dorchester can combine with the state and wield considerable clout with incentive packages.
The Charleston region has also emerged as a high-tech magnet. We are experiencing such growth in the technology industry in the area that the City recently created the new Charleston Digital Corridor (CDD) designed to support and nurture additional high-tech business to the city consists of public private partnerships to create an environment where technology oriented companies will thrive. Some measures already adopted for qualified companies include reduced business license fees, five-year real estate and property tax abatement, no city fees for renovation of qualified buildings, preferred garage parking, streamlined permitting with a dedicated project manager and group health insurance for corridor members. New proposed components include deferred technology equipment loans, below rate commercial property identification and links to higher education and employment.
Charleston Area Information and Facts:
The metro area population is at 549,033
Labor Force 283,065
Total Employment 274,979
Unemployment Rate 2.8%
Between 1973 and 1994 the population of the metro area grew by 41%
Tourism Annual Impact $3.99 billion, annual visitors 3,900,000
The year of 2001 turned out to be one if the best ever for residential real estate in the Tri-county Low-country. A near record number of homes were sold and home values increased. Eager buyers and industry moving to the area coupled with the low interest rates withstood the national economy slowdown and economic impact of 9/11.
The median home price in the area for the third quarter was $150,600, a 7.9 percent increase over the same period in 2000, according to National Association of Realtors statistics. This was short of the double-digit appreciation of recent years but respectable in consideration of solid investment.
South Carolina Census Statistics: (2000 Census)
Area in Square Miles - 30,110
Population, 2000 - 4,012,012
Population, percent change, 1990 to 2000 - plus 15.1%
Persons under 5 years old, percent, 2000 - 6.6%
Persons under 18 years old, percent, 2000 - 25.2%
Persons 65 years old and over, percent, 2000 - 12.1%
White persons, percent, 2000 - 67.2%
Black or African American persons, percent, 2000 - 29.5%
American Indian and Alaska Native persons, percent, 2000 - 0.3%
Asian persons, percent, 2000 - 0.9%
Persons reporting some other race, percent, 2000 -1.0%
Persons reporting two or more races, percent, 2000 - 1.0%
Persons of Hispanic or Latino origin, percent, 2000 - 2.4%
Female persons, percent, 2000 - 51.4%
High school graduates, persons 25 years and over, 1990 - 1,480,330
College graduates, persons 25 years and over, 1990 - 360,833
Housing units, 2000 - 1,753,670
Homeownership rate, 2000 - 72.2%
Households, 2000 - 1,533,854
Persons per household, 2000 - 2.53
Median household money income, 1997 model-based estimate - $33,325
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