Manufacturers in South Carolina are the main reason for economic recovery in this southeastern state. According to the newest Economic Impact Study from SC Future Makers, manufacturing is the driving force behind South Carolina’s economy.
The main takeaway is that the state’s 5,290 manufacturers deliver up to $206 billion a year in economic impact. With 30% of jobs tied to manufacturing and 38% of South Carolina’s general fund coming from manufacturing – the promise of growth seems inevitable.
Some of the top manufacturing industries in South Carolina are experiencing growth due to new technologies and new employees. Aerospace and aviation, automotive, and advanced manufacturing are flourishing and providing much needed pandemic recovery to the state.
Aerospace and Aviation
One of the main industries for manufacturing in South Carolina is aerospace and aviation. The annual economic impact of this industry is roughly $28 billion. With huge companies like Boeing and Lockheed Martin calling South Carolina home, aerospace and aviation contribute to a large portion of manufacturing careers. In March of this year Boeing even moved all production of their 787 Dreamliners to Charleston, SC.
While South Carolina is major player in the air transportation industry, it is also huge in the automotive industry. It’s economic impact almost matches aerospace and aviation with an annual earning of over $27 billion. The auto industry in South Carolina is #1 in the export sales of both tires and completed vehicles. IndustrySelect even chose four automotive companies to include in the top 10 manufacturing companies in South Carolina.
The Economic Impact Study also points out that the state’s Technical College System is one of the main associations for workforce training. Recruitment of new employees assists in breaking down the skills gap and therefore leads to growth within advanced manufacturing. Manufacturers in South Carolina are expanding rapidly creating the expectation of hundreds of new jobs before spring of 2022. With these types of expansions announced regularly, the state is seeing an increase in production and therefore an increase in earnings.
Manufacturing in the southeast is not going away anytime soon. Companies in South Carolina rely heavily on manufacturing. To stay ahead of the competition and explore new technology, be sure to register for SOUTHTEC – the southeast’s leading manufacturing trade show.