2013 charleston market facts
DESCRIPTION
Your guide to critical data in the Charleston, SC area, celebrates 10 years! This is a supplement to the Charleston Regional Business Journal.TRANSCRIPT
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MARKET FACTs
Sponsored by
MARKET FACTS
2013
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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
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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
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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.
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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
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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
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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
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REal EstatE & constRuction | www.charlestonbusiness.com8
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New construction in the Charleston area
Source: Charleston Trident Association of Realtors 2012 Annual Report
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
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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
Source: Charleston Trident Association of Realtors 2012 Annual Report
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
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REal EstatE & constRuction | www.charlestonbusiness.com10
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HHOMMEES FRROMM THHEE $$3880SSHHHOOMMMEEESS FFRRROOMMM TTHHHEEE $$$ 8803388800SS
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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
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www.charlestonbusiness.com | REal EstatE & constRuction 11
GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
Source: Realtytrac.com
Source: Charleston Trident Association of Realtors
600
400
300
500
200
100
0
2008 - Q3
Foreclosed properties sold
2013 - Q1
Berkeley Charleston Dorchester
Berkeley Charleston Dorchester
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%
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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
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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
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www.charlestonbusiness.com | Real eSTaTe & cONSTRucTiON 13
GOveRNmeNTDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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 $94,500
1. Charleston Trident 100
2. Greater Greenville 101
3. Greater Columbia 116
4. Hilton Head Area 127
5. Greater Pee Dee 127
6. Spartanburg 155
7. Piedmont Regional 157
8. Western Upstate 164
9. Greenwood 167
10. Coastal Carolinas 174
11. North Augusta 175
12. Sumter/Clarendon County 175
13. Beaufort 198
14. Aiken 209
15. Southern Midlands 240
1. Charleston Trident 10,596
2. Coastal Carolinas 8,973
3. Greater Greenville 7,659
4. Greater Columbia 7,587
5. Hilton Head Area 3,305
6. Western Upstate 2,910
7. Spartanburg 2,883
8. Piedmont Regional 2,461
9. Greater Pee Dee 1,538
10. Aiken 1,311
11. Beaufort 1,103
12. Sumter/Clarendon County 1,039
13. North Augusta 961
14. Greenwood 610
15. Southern Midlands 268
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REal EstatE & constRuction | www.charlestonbusiness.com
Summary: Construction activity was up in almost all parts of the state, with
the Upstate logging an increase of more than 35% in 2012 compared with
2011 numbers. In the Charleston area, building permits were up by 20%. The
number of construction jobs also saw an increase.
South Carolinaconstruction trends
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AWARDED 5 TIMES
Contractor of the YearCharleston Chapter,
American Subcontractors Association of the Carolinas
&RZDUG+XQG&RQVWUXFWLRQ*URXS,QF:HVW0RQWDJXH$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%
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www.charlestonbusiness.com | REal EstatE & constRuction 15
GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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
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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
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Source: Real Data, Charleston Apartment Index
Total apartment units - March 2012Average monthly rent in the Charleston area
Berkeley Charleston Dorchester
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
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www.charlestonbusiness.com | REal EstatE & constRuction 17
GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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
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7
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$7
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$1,
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$7
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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.
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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
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www.charlestonbusiness.com | REal EstatE & constRuction 19
GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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
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REal EstatE & constRuction | www.charlestonbusiness.com20
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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
843-577-0702www.cbrecharleston.com
1980 Technology DriveCharleston, SC 29492 253,500 30 69 Tilt-up 2007 CBRE Carmody LLC
843-577-0702www.cbrecharleston.com
1 Belt DriveMoncks Corner, SC 29461 240,000 13.5 4 Insulated Metal/Block 1950 CBRE Carmody LLC
843-577-0702www.cbrecharleston.com
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
843-723-1202www.colliers.com/charleston
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
843-747-1200www.lee-charleston.com
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
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REal EstatE & constRuction | www.charlestonbusiness.com22
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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
843-723-1202www.colliers.com/charleston
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
843-723-1202www.colliers.com/charleston
211 Farmington RoadSummerville, SC 29483 131,535 15.5-22 14 Metal/Block 1990 CBRE Carmody LLC
843-577-0702www.cbrecharleston.com
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
843-577-0702www.cbrecharleston.com
7391 Pepperdam Ave.Charleston, SC 29418 101,500 20 6 Metal 1977 Carolina Commercial LLC
843-805-6060www.carolinacre.com
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
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
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www.charlestonbusiness.com | REal EstatE & constRuction 23
GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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
843-805-6060www.carolinacre.com
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
843-577-0702www.cbrecharleston.com
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
843-747-1200www.lee-charleston.com
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
843-577-0702www.cbrecharleston.com
2509 Clements Ferry RoadCharleston, SC 29492 40,950 26 4 Metal 2000 Avison Young
843-725-7200www.avisonyoung.com
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
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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 $2.6 billion
in activity for 2012, including several large deals by Charleston development
company Greystar Real Estate Partners. The real estate manager and developer
was the No. 1 manager of apartment housing units in the U.S. for the second
year running.
24 fiNaNcial SeRviceS | www.charlestonbusiness.com
-
Tim Grow, CPAOffice Managing Shareholder
Weve helped businesses succeed through the Great Depression, the recent recession and every market in between.
For 88 years, Elliott Davis has advised businesses on how to run efficiently, grow wisely, be more profitable. Led by Office Managing Shareholder Tim Grow, our team provides everything from audit and tax solutions to highly specialized advisory services across the spectrum of industries.
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)((;Yd`gmfKlj]]lKmal]+((;`Yjd]klgf$K;*1,()0,+&-//&/(,(ooo&]ddagll\Ynak&[ge
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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
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www.charlestonbusiness.com | Financial ServiceS 27
GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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
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Financial services | www.charlestonbusiness.com28
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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
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GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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.
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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
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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
Berkeley Charleston Dorchester
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
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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
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2012 Charleston-area populationBy county and major city
notaBLE nUMBErS
Source: U.S. Census Bureau
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%
Source: U.S. Census Bureau
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www.charlestonbusiness.com | demographics 35
GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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
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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
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www.charlestonbusiness.com | EmploymEnt & Economic DEvElopmEnt 39
GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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
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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
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www.charlestonbusiness.com | emPlOymeNT & ecONOmic DevelOPmeNT 41
GOveRNmeNTDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
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
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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
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www.charlestonbusiness.com | EmploymEnt & Economic DEvElopmEnt 43
GovernmentDemOGRaPhicS
eDucaTiONmeDical & healTh caRe
emPlOymeNT & ecONOmic Dev.hOSPiTaliTy & TOuRiSm
imPORT/exPORT & DiSTRibuTiONbuSiNeSS ReSOuRceS
fiNaNcial SeRviceSReal eSTaTe & cONSTRucTiON
Largest public sector employers, Charleston MSA
Source: Center for Business Research, Charleston Metro Chamber of Commerce
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
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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
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Charleston-area school districts
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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
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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.
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$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
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www.charlestonbusiness.com | Education 51
GovernmentDemoGraphics
eDucationmeDical & health care
employment & economic Dev.hospitality & tourism
import/export & Distributionbusiness resources
financial servicesreal estate & construction
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
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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
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GovernmentDemoGraphics
eDucationmeDical & health care
employment & economic Dev.hospitality & tourism
import/export & Distributionbusiness resources
financial servicesreal estate & construction
S.C. Education Lottery by county
Source: S.C. Education Lottery
Berkeley Charleston Dorchester
$16,911,440K-12
42,648Scholarship awards
$53,293,951Scholarship amounts
$424,083Library totals
$35,744,966K-12
77,685Scholarship awards
$11,388,593Scholarship amounts
$691,322Library totals
$15,848,845K-12
36,218Scholarship awards
$51,209,083.97Scholarship amounts
$351,028Library totals
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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
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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
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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
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www.charlestonbusiness.com | Import/Export & dIstrIbutIon 59
GovernmentDemoGraphics
eDucationmeDical & health care
employment & economic Dev.hospitality & tourism
import/export & Distributionbusiness resources
financial servicesreal estate & construction
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
Source: Center for Business Research, Charleston Metro Chamber of Commerce
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
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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