Economic Engines
The Medical University of South Carolina The Medical University of South Carolina’s (MUSC) history began in 1824 when the Medical College of South Carolina was founded. In 1969, it gained university status, and, by the 1980s, it was one of the region’s major employers.
MUSC’s medical college is the oldest in the South and the fourth oldest continuing education medical facility in the country. MUSC is one of the region’s largest employers, with an annual economic impact on the Charleston region of more than $1 billion dollars. Four MUSC Medical Center hospitals have been nationally recognized and awarded for their findings and developments in diverse areas of biomedical technology. Their research and health care programs include the Hollings Oncology Center, the Thurmond Biomedical Research Canter, the Refractive and Laser Center of the Storm Eye Institute, and the Environmental Hazards Assessment Program.
Tourism First-rate golf and dining, brilliantly preserved history, and miles of unblemished beaches attract millions of visitors to Charleston County each year. Charleston recorded 4.12 million visitors in 2008, providing an economic impact of $3.05 billion to the local economy. The hospitality industry directly employs 35,875 people in Charleston County, accounting for 12 percent of the workforce. When direct and indirect employment from the hospitality industry is combined, the total number employed balloons to over 50,000. The past few years have seen the emergence of a new facet to Charleston’s tourism market – the cruise ship industry. Although Norwegian Cruise Lines announced that they would be taking the Norwegian Majesty out of service in mid-2009, temporarily ending Norwegian’s presence at the Port, the Port rebounded with the addition of both Carnival Cruise Lines and Celebrity Cruise Lines. This thriving visitor industry helps sustain a world-class array of restaurants, shops, and recreational and cultural amenities rarely found in markets this size, which are an assets to any business in town
Port of Charleston As the busiest container port along the Southeast and Gulf coasts, the Port of Charleston is a powerful magnet for manufacturing and distribution companies. A full third of the competitive business expansions and relocations announced by the Charleston Regional Development Alliance have been related to the port. In 2008, the Port of Charleston was ranked fourth on the list of busiest U.S. East Coast container ports. It is consistently recognized as one of the nation’s most efficient and productive ports. In 2008, the Port of Charleston handled 1.64 million TEUs (twenty foot equivalent cargo containers). The Charleston break-bulk cargo totaled 587,000 tons. Port activity is expected to rise over the next decade, largely due to the new container terminal currently under construction on the former Navy base. Work is already underway at the new 280-acre terminal. The terminal is expected to open in 2014 and, at build out, will increase Charleston’s total container capacity by 50 percent. In addition, a new 25-acre yard opened in late 2008 at the Wando Welch Terminal, representing a 10 percent capacity increase for the terminal. To learn more about the port and its competitive advantages, visit the Port of Charleston Web site
Military Installations The U.S. Navy has reemerged as the largest employer in the region, with over 16,000 employees - including both military and civilian workers.
The Charleston Air Force Base is the largest East Coast air base servicing the C-17, the Air Force’s most flexible and reliable cargo plane. The base also provides a large part of the Air Mobility Command’s Global Reach airlift capability. The Charleston Air Force Base is also home to 437th Airlift along with 6,150 (airbase) employees and over 50 C-17 aircraft. The C-17s are currently serving a vital supply role to the military in both Afghanistan and Iraq. The Charleston area is home to the 841st Transportation Battalion, which serves to expedite the movement of military cargo. The 841st Battalion is the busiest military terminal battalion in the U.S. Army, handling more than one quarter of all sealift cargo for the war in Iraq. The U.S. Coast Guard Sector Charleston is a multi-mission unit providing a number of key services, including maritime homeland security, search and rescue, law enforcement, marine environmental response, and port and waterway safety. The Coast Guard employs nearly 800 active duty, civilian and reserve employees. The U.S. Department of State operates the Financial Services Center Charleston, which locally employs approximately 600 civilians and contractors. The center disburses about $3.3 billion a year in payroll to U.S. citizen Foreign Service employees, foreign nationals and retired Foreign Service officers. The Charleston Passport Center, another Department of State operation, is one of the nation’s two Federal passport processing centers. The Charleston Passport Center employs about 200. The Charleston region is also home to the National Law Enforcement & Corrections Technology Center - Southeast, which operates under the U.S. Department of Justice. The Center provides technical advice and assistance to all law enforcement and corrections facilities within the 15-state Southeast Region. |
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