HAVING a world-class port in South Carolina generates a nearly US$87 billion statewide economic impact on South Carolina each year, according to a new study authored by Dr Joseph Von Nessen, a research economist and professor at the University of South Carolina Darla Moore School of Business.
"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," Dr Von Nessen said. "Our state's economic success is directly linked to SC Ports' continued growth."
In addition to being an economic engine for South Carolina, SC Ports supports 1 in 9 jobs in South Carolina, according to the 2023 SC Ports' Economic Impact Study.
This translates to 260,000 jobs in South Carolina that are tied - directly or indirectly - to port operations and port users. This accounts for jobs that are connected directly to the port, as well as for jobs at port-dependent business throughout the state - from the advanced manufacturers to the mega retailers, at small and big businesses alike.
"Having a top 10 US container port in South Carolina makes a big economic impact across the state," SC Ports president and CEO Barbara Melvin said. "SC Ports is proud to play a role in supporting South Carolina's economy and creating generational opportunities for South Carolinians."
By supporting thousands of port-dependent businesses throughout the state, SC Ports drives economic growth and supports high-wage jobs for South Carolinians.
Port operations and related activities generate $17.6 billion in labour income for South Carolinians that would not exist otherwise. This translates into an average annual income of nearly $68,000 for all jobs supported - either directly or indirectly - by SC Ports, which is approximately 23 per cent higher than the average labour income in South Carolina.
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