Aug
11

Economists: S.C.’s Economy to Outpace Nation Through 2017

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up trend tiesBookended by thriving development in Charleston and the Upstate, South Carolina’s economic growth is expected to outpace the nation’s through 2017 and add 110,000 jobs by the end of next year.

The Palmetto State, with its growing industrial might and diversified base, should see economic growth of 3.6 percent this year and 3.8 percent in 2017, Wells Fargo Securities economists Mark Vitner and Misa Batcheller said in a recent report.

For comparison, the U.S. economy is expected to expand 1.4 percent this year and 2.1 percent next year.

“South Carolina’s economy continues to be more firmly anchored in industrial development,” the report said.

The economists pointed to the widening of the Panama Canal and the opening of an inland port at Greer in the Upstate as setting off a development boom for warehouse and industrial space.

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