Strong development in Charleston and along the Interstate 85 corridor could cause South Carolina’s economic growth could surpass the nation’s through next year, according to a new financial analysis. The growth means another 110,000 jobs could be added in South Carolina by the end of 2017.
Wells Fargo Securities said in a recent report that the widening of the Panama Canal and the opening of an inland port at Greer in the Upstate as the reasons for setting off a development boom for warehouse and industrial space.
According to the Post and Courier, the state’s growing industry and a diversified base, the state could see economic growth of 3.6 percent this year and 3.8 percent next year.
Meanwhile, the report says the Interstate 85 corridor’s growth is being driven by BMW, the inland port and investment of $1.4 billion by Boeing supplier Toray Industries continues to buzz along in the Upstate between the hubs of Atlanta and Charlotte.
Tourism continues to do very well. According to the report, Myrtle Beach welcomes 17 million visitors a year and it’s a popular destination for retirees and seasonal visitors from the Northeast, Midwest and Canada.