A pair of new studies released during last week’s South Carolina Aerospace Conference & Expo claim the growing aerospace industry in the state sends $19 billion into its economy.
According to the Post and Courier, the University of South Carolina study found that about 100,000 jobs are connected to the aerospace industry in the state. Aerospace workers earn about $70,000 a year, which is almost 70 percent more than the average wage paid in South Carolina.
The report also found aerospace-related employment growth is averaging 11.8 percent annually, seven times higher than the state’s 1.6 percent annual growth rate.
The impact of the industry has grown by about $2 billion since the last study on the sector two years ago.
A second report, the 2016 Southeast Manufacturing Study, found South Carolina and other states across the Southeast led the nation in aerospace job sector growth. However, the report also notes the Palmetto State is struggling to meet the demand for advanced manufacturing employees.