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Charleston
Basics
Business Climate |
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Charleston
is a tourist haven that is known for its preserved 17th century
architecture, scenic protected wetlands, and beaches. Yet Charleston
is also a rapidly growing and vibrant metropolitan area of just
over 500,000 people. With a national unemployment rate between
5 and 6 percent in recent years, the Charleston area's consistent
unemployment rate of less than 4 percent is quite an achievement.
So what is fueling Charleston's economic boom? |
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| The Port |
The Port of Charleston is the No. 1 containerized
port on the South Atlantic and Gulf coasts, ranking
second on the East coast only to the combined ports
of New York and New Jersey. As such, it is the largest
single private sector engine to the Charleston area
economy.
Spin-off economic development related to the port
includes manufacturing, trucking, railroads, logistics
management, import/export brokers, warehouse management
and distribution software, warehousing, express
couriers, and the like. Charleston is an ideal port
for South Carolina's robust international trade
because of its strategic location in the center
of the Eastern Seaboard. The Port of Charleston
operates under the State Ports Authority and contributes
significantly to Charleston's economy. |
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| The Tourism
Industry |
| Tourism is still one of Charleston's
largest businesses with nearly 3 million visitors
per year. Tourism provides an estimated 40,000 jobs
and brings in more than $2 billion annually. |
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| The Military |
| Charleston still has a strong
military presence. It has waned in recent years,
but is now home to the U.S. Navy's Goose Creek Naval
Weapons Station, Charleston Air Force Base and the
United States Coast Guard. SPAWARS and the U.S.
Navy Southeast Engineering Command have major facilities
in the area. There is also a border patrol training
station. |
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Manufacturing |
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Charleston is experiencing
a manufacturing boom. The Charleston
Regional Development Alliance was formed and is dedicated
to marketing Charleston to big businesses and major corporations
all over the world. In 1996, Nucor Steel opened a $500
million plant in Berkeley County. Nucor joined the ranks
of other key Charleston manufacturers such as Bosch Corporation,
Westvaco, Boeing, Dodge, and American Lafrance. |
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Technology |
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Technology is a targeted development
area, and those efforts have borne fruit over the past
several years with the emergence of a vigorous local technology
climate. Twenty-seven companies now reside in one of four
areas that comprise the Charleston
Digital Corridor, including Suncom,
Pilot
Therapeutics, and Quovadx.
In addition, several software companies are headquartered
locally, including Blackbaud,
Advanced
Trading Desk, Benefitfocus.com,
Ulanji,
Google and Cambar
Software. |
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