Nov
19

Study: S.C. Ports Authority Pumps $13.6B into Midlands Economy

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port craneThe S.C. Ports Authority drives $13.6 billion worth of annual economic activity in the Midlands, according to a new study released today at the agency’s monthly board meeting at the Michelin tire plant in Lexington.

The study by the University of South Carolina’s Darla Moore School of Business also found business at the state’s ports account for nearly 48,000 jobs in the region and $2.6 billion in annual labor income.

Additionally, the manufacturing economy, which represents the primary user base of Port facilities, represents 8.2% the economy in the Midlands regions, said Joey Von Nessen, research economist at USC.
“Although the Ports statewide $53 billion impact is substantial, these economic benefits are felt strongly in the Midlands region, where the Ports impact translates into over 48,000 high-wage jobs,” Von Nessen said during a presentation at Michelin’s tire manufacturing facility.

Although the ports are about 100 miles from Columbia, their proximity helps support “ongoing development of export-oriented industry clusters, particularly in advanced manufacturing,” Von Nessen said. “This is helping to expand the local manufacturing base … into a sizable industry footprint.”

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