Fluorescent green balloons bounced in the breeze outside the Home2 Suites that's being built across from Mount Pleasant Towne Centre on Thursday, as managers worked to recruit workers to open the 122-room hotel in October. The extended-stay Hilton brand on James Nelson Boulevard, by OTO Development of Spartanburg, is one of six new lodgings that are under construction or have been approved in Mount Pleasant, with a seventh being built just outside the town limits and several more on the way. The half dozen properties going up in the town limits will add another 1,024 rooms, increasing the inventory by nearly 38 percent.
Three of the four Town Council members up for re-election this year have decided against seeking another term. The decisions by Elton Carrier, Paul Gawrych and Mark Smith throw the election wide open, along with control of what is now a narrowly divided council in South Carolina's fourth-largest city. The two-week filing period for the election ended Friday.
Berkeley County Supervisor Bill Peagler announced on Aug. 9 that he plans to seek re-election in 2018. Peagler was first elected as supervisor in 2014 after serving as Mayor of Moncks Corner for nine years. “It has been a true honor serving the great people and businesses of Berkeley County as Supervisor for the past three years,” stated Peagler in an announcement about his upcoming re-election campaign posted on his Facebook page. “From streamlining government agencies to speeding up the permitting process to making local government more responsive to its people, we have proven that taking a business approach to governing saves tax dollars and improves services.”
Sportsman Boats Manufacturing, a provider of premium boats, is expanding its existing Dorchester County operations. To grow its facility, the company is investing $3.5 million and creating 100 new jobs. Sportsman’s product offerings currently include 21 models of center consoles and bay boats. Ranging in size from 17 - 31 feet, the boats are designed for saltwater enthusiasts.
Hurricane Harvey will come with major economic consequences for an area critical to U.S. energy production that will be painful, costly and lasting, but it’s unlikely to cause big disruptions across the national economy.
Donald Trump’s threats to exit the North American Free Trade Agreement may well be within the bounds of a president’s power. But legal experts warn such a move could be tested by heavy congressional fire and lengthy court battles. There’s no legal consensus whether the U.S. president can act on his own to end the tariff-free benefits of Nafta without lawmakers’ approval. Trump seems to think he can, and warned as recently as Monday that he may terminate the trade accord he has assailed as a bad deal for American workers.
Negotiators from the United States, Canada and Mexico are trying to rewrite NAFTA by the end of the year. That won't be easy. Experts say the issues are complex. And President Trump insists he wants major changes to a trade pact he considers a raw deal for American workers -- he made reworking it a central promise of his campaign. The first round of talks to redo the three-nation trade pact concluded in Washington on Sunday.
Mexico sees a serious risk the United States will withdraw from NAFTA and is preparing a plan for that eventuality, Economy Minister Ildefonso Guajardo said on Tuesday, calling talks to renegotiate the deal a “roller coaster.” U.S. President Donald Trump has threatened three times in the past week to abandon the North American Free Trade Agreement, revisiting his view that the United States would probably have to start the process of exiting the accord to reach a fair deal for his country.
The Beach Co., which helped pioneer higher-end industrial parks in the region during the late 1990s, is getting back into the business of building speculative warehouse space. The Charleston-based real estate developer recently purchased 18 acres at Palmetto Commerce Park in North Charleston, where it plans to build a 200,000-square-foot warehouse in partnership with Greensboro, N.C.-based Samet Corp.
Consumer Trust Is Essential for Mass Adoption of Autonomous Vehicle Technology Gartner, Inc. expects to see multiple launches of autonomous vehicles around 2020. However, the full impact of autonomous vehicle technology on society and the economy will not begin to emerge until approximately 2025. Consumer and social acceptance is a key driver in autonomous vehicle adoption.
Our nation’s labor force participation rate, or the fraction of adults who are either employed or are searching for work, has fallen steadily since 1999. This is a trend that many economists find troubling, as the labor force participation rate is an indicator of household living standards and economic vitality. In 2016, over one-third (37.2 percent) of adults in the United States—including nearly one-fifth (18.7 percent) of prime working age adults (between 25 and 54 years old)—were not in the workforce. The large number of adults who are not in the labor force is a puzzle that cannot be fully accounted for by factors like baby boomers aging out of the workforce, women engaged in caregiving, or recent college graduates delaying the responsibilities of adulthood.
State economic development leaders have embraced the need to report program outcomes to demonstrate the impact of their efforts but seek better indicators to measure those outcomes. A new paper from the Center for Regional Economic Competitiveness, Redefining Economic Development Performance Indicators for a Field in Transition, identifies a set of metrics beyond jobs and investment tallies to capture the broader benefits of economic development initiatives.
Job quality indicators are important because policy makers increasingly recognize that many places need better jobs, not more jobs. In our work we see economic development leaders responding to this reality and striving to assess their efforts to help create more quality jobs. Here are some job quality indicator ideas that I think are especially intriguing or promising.
The Southeast makes headlines for its booming economy, but the region's fastest-growing states have a problem. Florida, Georgia, North Carolina, South Carolina and Tennessee rank high in job growth, according to U.S. News & World Report's Best States for employment rankings. But these five states also rank among the U.S.'s lowest in labor force participation, the percentage of state residents age 16 or older who held part-time or full-time jobs. High job growth should lead to high labor force participation, but that isn't true in these southeastern states. Richard Shearer pinpoints 2007 as the start of the trend.
Six of the nine largest ports break monthly records for traffic in the past year. Containers stocked with merchandise have been flowing through US ports at a quickening pace despite protectionist threats from President Donald Trump. Six of the nine largest US ports, including Long Beach, California and Savannah, Georgia, have broken monthly records for traffic in the past year. The port of New York and New Jersey on Monday reported volume in July was up 8.4 per cent from a year before to 577,000 20-foot equivalent units (TEUs), the fourth highest in its history.
On Sunday mornings about a decade ago, shortly after he moved here, Stephen J. Zoukis used to ride his bike around a ramshackle neighborhood a couple of miles north of the city’s celebrated historic district and wonder why no one had built anything of note there. The neighborhood, known in the 1850s as Cool Blow Village and now as the Upper Peninsula, was dotted with small houses, warehouses and metal sheds; had only a few sidewalks; and was infused with an air of neglect. Even with easy access from an interstate ramp, the neighborhood “lacked an economic pulse,” he said.
Global Carolina Connections hosted its fifth annual global business conference on August 9 at the College of Charleston in Charleston, South Carolina. The formation of the Global Carolina Connections Conference is a direct result of feedback that my co-founders and I heard from international business executives in the region seeking to learn more about the resources available to global companies who have already located in the Carolinas and want to continue to expand here. Global Carolina Connections is a chance to gather with hundreds of business and economic development leaders to engage in valuable discussions regarding the unique needs facing U.S. subsidiaries of internationally owned companies. C-level executives share their companies’ challenges and how they’re overcoming them, and economic development leaders and international business service providers detail relevant trends in foreign direct investment (FDI).
Facing an impending trial with tens of millions of taxpayer dollars at risk, Tuesday night was decision time for Charleston County Council on the failed Navy hospital redevelopment. The big question was, which option facing the county was the least-worst? Would the county go to trial and fight a tough battle in U.S. Bankruptcy Court, or instead seek to settle very costly claims made by developers suing the county?
While Toyota and Mazda search for a U.S. site to build their joint $1.6 billion auto manufacturing plant, S.C. Gov. Henry McMaster confirmed the Palmetto State is in the running. “We know that, like a lot of other companies, they’re considering South Carolina, among other states,” McMaster said Thursday in Summerville, after attending Sportsman Boats’ expansion announcement.
On September 5 residents in parts of Dorchester and Charleston counties will get the chance to vote on their preferred candidate for South Carolina House District 113. State Rep. Seth Whipper, D-North Charleston, vacated the seat to take on a county magistrate role. Next month's primary election will whittle down the current five candidates, two Republican and three Democrat. Voters will again head to the polls for a final vote on Nov. 7, unless a runoff is necessary after the primary. A runoff would be Sept. 19.
The scaffolding wasn't there when welders arrived. So they stood around. Construction orders for dozens of ironworkers weren't handed out until mid-afternoon. So they pushed brooms. Workers couldn't tighten bolts to steel beams because of questionable engineering. So they spent hour after costly hour doing workarounds.
2020? 2024? Whenever United Nations Ambassador Nikki Haley ends up running for president — and many Republican strategists expect she eventually will — Democrats plan to come prepared. The former South Carolina governor has continued to build her national profile and burnish her foreign policy credentials since taking on the prominent diplomatic role in January, asserting a combative stance against Russia and North Korea while emphasizing human rights on trips abroad.
Robots are taking over many of the tasks humans used to perform in industries such as aircraft and vehicle manufacturing, with South Carolina one of the most notable examples of the nationwide growth in automation. The Palmetto State ranks No. 7 nationally with 21 percent annual growth in the number of workplace robots between 2010 and 2015, according to The Brookings Institution. As of 2015, the latest statistics available, there were 3.2 robots for every 1,000 workers in South Carolina's industrial settings.
The ongoing Statehouse corruption probe will certainly be a huge topic in January when the Legislature reconvenes and the S.C. governor’s race heats up. But what could become a bigger political football is the meltdown of the $9 billion nuclear plant expansion in Fairfield County.
In more than two decades as mayor, Keith Summey has used his office to dole out high-paying government jobs to friends, steer tax dollars to affluent developers and cement his hold on power while transforming North Charleston from a struggling city into a prosperous powerhouse. A Post and Courier investigation of the mayor's dealings over his lengthy public career reveals a pattern of behavior that exists in a gray zone created by North Charleston’s strong-mayor government and South Carolina's anemic ethics laws. His way of doing business would likely be forbidden in states such as Maryland or Connecticut, which have tighter regulations on their public officials’ conduct.
The business lobby has turned up the heat on U.S. Sens. Lindsey Graham and Tim Scott of South Carolina to reject President Donald J. Trump’s nominee to run the U.S. Export-Import Bank.
At 9:01am this morning, the City of North Charleston posted an interview with Mayor Keith Summey where he defends his record as mayor in an attempt to get ahead of a potential "negative article" from the Post and Courier. Summey, who has led the city since 1994, spends much of the 13-minute edited interview, released only on the official North Charleston Government Facebook page, discussing his administration's work bringing large economic development projects to the area and the deals that led to them.
Looking for a job in Richland County? If so, the last year has been unusually hopeful. On Aug. 10, Trane, which manufactures heating and air conditioning units, announced an expansion of its Killian Road plant that will create 700 jobs. The company said it will invest $96 million in the project and more than double its workforce there. That announcement boosted Richland County’s investment total in the last 10 months to $445 million and 2,275 jobs – by far the largest industrial bounce since Union Camp built a $600 paper mill in Eastover in 1981.
The massive Volvo facility in Ridgeville is beginning to take shape. On Thursday the company invited media and elected officials for a visit to the plant to highlight what may seem like a small part of the process. But it makes a big statement when it comes to the company’s philosophy, while lawmakers continued on with their credo—economic development.
After decades of blood, sweat and tears, a CEO has called it quits. Santee Cooper President and CEO Lonnie Carter announced today his retirement from Santee Cooper after a 35-year career that saw Santee Cooper triple in generating capacity and number of customers served, according to a press release. Carter will leave Santee Cooper with rates lower than the state and national averages, customer satisfaction ratings well above the national average, and reliability and safety records that are the envy of power utilities across the country.
US sales of big-ticket manufactured goods sank to their lowest level in three years in July as orders for civilian aircraft dropped sharply, government data showed Friday. Analysts had been expecting July to see a steep downturn following June's spike in sales at aircraft giant Boeing. But the overall decrease was more than enough to reverse the gains recorded in June. Durable goods orders have now been down for three of the last four months, possibly weighing on economic growth.
Move over, FANG stocks — the listings powered by Facebook, Apple, Netflix and Google. Here’s a one-word explanation for why the Dow Jones industrial average and Standard & Poor’s 500-stock index hit a new high on Monday despite geopolitical tensions, turmoil in the White House and the threat of higher interest rates: Boeing. - While investors have been piling into high-tech growth stocks, the giant commercial aircraft manufacturer and defense contractor has quietly emerged as the best-performing stock in the Dow. This week its shares rose above $240, and even after falling back with the broader market on Thursday, they’ve gained 50 percent this year.
Boosted by continuing sales growth, August is expected to be the busiest month on record for imports at the nation’s major retail container ports, and 2017 is on track to set a new annual high, according to the monthly Global Port Tracker report released Wednesday by the National Retail Federation and Hackett Associates. “Retailers are selling more and that means they need to import more,” said Jonathan Gold, vice president for supply chain and customs policy at NRF. “With sales showing year-over-year increases almost every month for a long time now, retail supply chains are working hard to keep up. These latest numbers are a good sign of what retailers expect in terms of consumer demand over the next few months.”
The new headquarters in Rock Hill, SC is down the road from Desoutter's prior, smaller location. It houses the North American headquartered management team, customer service, product repair, field service...
The Post and Courier’s John McDermott reported on more than 12,000 acres of forestland being acquired by a “solid conservationist” (Land deal by South Carolina video chain pioneer provides ‘happy ending,’ Aug. 6). That surely was a happy ending, but the article coincidentally reported on a trend that does not have such a happy ending.
MOUNT PLEASANT — Town Council is upset by limited bus service that inconveniences residents, workers and their employers.
The federal Economic Development Administration is giving $1.8 million to Dorchester County to build an elevated water tank for the manufacturer of aluminum parts for the automotive industry.
South Carolina is reportedly among 11 states in the running for the $1.6 billion manufacturing campus that automakers Toyota and Mazda plan to jointly build by 2021.
When TEDxCharleston returns this fall for its fifth year, the speaker conference will have far outgrown its humble beginnings.
Medical University Hospital in Charleston was again named the best hospital in South Carolina, according to U.S. News & World Report.