SC Ports makes $87 billion annual economic impact

SC Ports makes annual economic impact of $87 billion

According to a recent report, South Carolina Ports (SC Ports) has generated almost $87 billion in statewide economic effect on South Carolina each year.

This report was conducted by Dr. Joseph Von Nessen, a Research Economist and Professor at the University of South Carolina Darla Moore School of Business.

Von Nessen stated: “Port operations attract port-dependent businesses to locate or expand throughout the state, generating billions in economic impact and supporting thousands of jobs for South Carolinians. Our state’s economic success is directly linked to SC Ports’ continued growth.”

According to the 2023 SC Ports’ Economic Impact Study, SC Ports supports one in every nine jobs in the state.

This amounts to 260,000 employment in South Carolina related to port operations and port consumers, either directly or indirectly.

This includes employment directly related to the port as well as positions at port-dependent businesses around the state, ranging from advanced industries to big retailers, as well as small and large organisations.

READ: SC Ports handles 2.6 million TEU FY23

SC Ports President and CEO, Barbara Melvin, commented: “Having a top 10 US container port in South Carolina makes a big economic impact across the state. SC Ports is proud to play a role in supporting South Carolina’s economy and creating generational opportunities for South Carolinians.”

According to SC Ports, its operations and related activities generate $17.6 billion in labour income for South Carolinians that would not exist otherwise.

This amounts to an average yearly salary of roughly $68,000 for all employment supported – directly or indirectly – by SC Ports, which is approximately 23 per cent more than the South Carolina average labour income.

Melvin added: “When new jobs are created, this economic impact can be felt in our communities as people buy homes, spend at local stores and build strong foundations for their families. When we invest in port infrastructure, we invest in South Carolina.”

In August, SC Ports released data indicating a 12 per cent increase in imports in July.

That same month, SC Ports rail-served inland ports witnessed strong volumes, achieving an all-time record month.

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