Study Finds Aviation Responsible for $13.9B of Local Economy

A study from the CHS Metro Chamber of Commerce suggests the aviation industry – primarily the big three of the airport, CHS Air Force Base, and Boeing – are responsible for some $13.9B and 51,000 jobs to the local economy.  That’s 40% of the local economy and 16% of the local job base.  Sounds like a lot, but the airport’s impact is huge; not to discount Boeing’s affect, but a similar study in 2011, pre-Boeing, suggested 34k jobs and 12% of the region’s employment, but the dollar figure has doubled from about $7B four years ago.  Some interesting additional stats:

  • Boeing alone accounts for $11B to the local economy, with 8,200 direct workers and sustaining another 20,000 jobs in the region
  • Boeing’s growth will continue with its new paint hangar, the recently opened air inlet facility and when it begins its sole production of the 787-10, the largest version of the wide-body aircraft.
  • The airport, now eclipsing 3M passengers a year, accounts for 3,915 direct jobs, while visitors using CHS account for some $450M in spending on their visits sustaining another 6,181 jobs.
  • The Air Force Base employs 7,300 active-duty and civilian workers and supports another 5,000 jobs with a total economic impact of $1.7B.

See the full article by Warren Wise of The Post and Courier.

About charlestonCREblog

30 years' in the commercial real estate biz - investment sales, consulting, banker, appraiser, brokerage. Trained in Atlanta and moved to the Lowcountry in 2008 and now sharing offices in Charleston and Jacksonville, FL. Exclusive listings, buyer representation, and consulting/analysis to help clients make the best commercial real estate decisions.

Posted on February 20, 2015, in Boeing News, CHS, CHS Hotel-Retaurant-Hospitality, CHS Jobs/Economy, Infrastructure, Market Reports, SC Jobs/Economy, The Post and Courier, Tourism and tagged , , , , . Bookmark the permalink. Leave a comment.

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