A net of 48 people per day are moving to the Charleston metro region, and one in every four jobs in South Carolina was created in the Charleston metro region from 2010 to 2016, according to the Economic Outlook Forecast released by the Charleston Metro Chamber of Commerce.
The forecast was released at the Chamber's 26th annual Economic Outlook Conference March 8 at the Charleston Area Convention Center.
The conference revealed the detailed 12- to 18-month economic forecast for the region, as produced by the Chamber's Center for Business Research and the College of Charleston's School of Business.
Charleston Metro Chamber of Commerce Chief Advancement Officer Mary Graham and Center for Business Research Director Jacki Renegar worked with the Economic Outlook Board to create an economic forecast for the region. The creators used their combined expertise and knowledge to build a forecast with data unique to the area. The forecast tracks the economic indicators and provides local businesses with the information needed to make informed business decisions.
"Our region has secured a place on the global stage with numerous international companies based right here in the Charleston metro," Graham said. "These companies, including the three featured in our panel, are impacted and driven by global trends. It is essential that as our community grows, we think both locally and globally."
The conference included a panel moderated by Clemson University Restoration Institute Director of Business Development Elizabeth Colbert-Busch.
Among other findings, the forecast showed that a net 48 people per day are moving to the Charleston metro region, and 1 in every 4 jobs in South Carolina was created in the Charleston region from 2010-2016.
According to the forecast, more than 11,000 net new jobs were created in the region in 2016, and that growth is expected to increase. More than 10,000 net new jobs will be created in 2017 and another 11,000 in 2018, according to the report.
Average residential home sales are predicted to increase by 2.6 percent in 2017, and another 3.5 percent in 2018.
The Port of Charleston is expected to see an increase in container volumes, and the number of automobiles shipped through the Port will remain steady in 2017, before expanding in 2018 as the new Volvo plant becomes operational in Berkeley County.
The full economic forecast report can be found online here.
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