The South Carolina Ports Authority revealed that it made $39 million in earnings during the 2016 fiscal year. The annoounementcomes after the SCPA set a record in the number of shipping containers handled in July. Last month the ports authority handled more than 177,000 containers an increase of 1.2 percent from July 2015.
The increases in port activity are not limited to coastal-Carolina and represent a stimulated regional economy. Newsome claimed that the increase in activity occurred in the automotive industry as well as plastics and refrigerated cargo.
The numbers from the Ports Authority matches reports from other government agencies that indicate the health of South Carolina’s economy. Last month the South Carolina Dept. of Employment and Workforce announced that the unemployment rate in South Carolina was at a 15 year low.“We’ve seen steady growth in employment over the last several years across most industries, and that’s underscored by the fact that we are also seeing income growth in 2016,” Joey Von Nessen, research economist at USC’s Darla Moore School of Business, told the Myrtle Beach Sun News about the summer’s drop in unemployment numbers.