Tyrone Richardson of The Post and Courier reports on new subdivisions popping up around town, especially in Berkeley County, in Summerville, and in Mt. Pleasant. Continued demand and dwindling supply of lots; reminds me of an economic theory for higher prices.
Textron is a behemoth corporate conglomerate that includes E-Z Go golf carts, Bell Helicopter, and Cessna, Beechcraft and Hawker airplanes. It is looking to grow its aviation business that includes its manufacturer of flight simulators and high-tech training devices made in Goose Creek north of CHS. John McDermott of The Post and Courier has the story.
The Post and Courier’s Tyrone Richardson reports that CHS’ multifamily construction will add an unprecedented 8 percent to its inventory of existing stock, and that makes it one of the biggest percentage gainers in the nation. With about 45,000 total units and some 3,700 under construction, that is a lot of units, but it is dwarfed by our neighbor to the north, Charlotte that reportedly has some 10,000 units under construction, or a much larger city like Boston adding thousands of new units and 5% to its inventory. Jobs are being created and that is the big generator for the boom, jobs at Boeing but also high tech and software firms like BenefitFocus that announced 1,200 new jobs. The Apartment Guide summed it up, saying Charleston’s employment is “a hotbed of activity…the numbers are staggering compared to the rest of the state and nation for job growth…” The Apartment Guide, however, did not cite statistics in high growth markets Charlotte, Dallas, Houston, South Florida or Washington DC, so reporting that it leads the nation is probably a stretch.
David Slade of The Post and Courier reports the U.S. Census Bureau says SC was home to ALL THREE of the fastest-growing metropolitan areas on the Atlantic Coast in 2013 and CHS accounted for nearly one-third of the state’s population growth since 2010. At number 1 and 2 (in percentage growth) were Hilton Head and Myrtle Beach. But if you drove in CHS today, you probably already knew that, as the article also mentions the growing pains of CHS and its traffic woes. Lately, metro CHS has added 15,000 people each year and the population has grown by 163,000 since 2000. Additional article from The Digitel.
Koyo Bearing North America will invest $10M over the next five years in new machinery and upgrades to its plant that employs about 500 people it was announced on Tuesday. Koyo is a multi-billion dollar company based in Japan and its major customers are Toyota, Ford, Honda, GM and John Deere with 14 plants across North America. Warren Wise of The Post and Courier has the story.
A slug of money federal/state/local funds has been budgeted for transportation projects in the tri-county area, including upgrading some choke points at I-526/International Blvd. and in West Ashley at US 17 and Sam Rittenburg Blvd. Brenda Rindge and Prentiss Findlay of The Post and Courier have the complete story.
The Easley-based bank opens it first banking operation in the Lowcountry with the opening of its new regional headquarters at 177 Meeting Street in downtown CHS, developed by Atlanta-based Holder Properties. Warren Wise of The Post and Courier has the brief story here.
Although February was slow amid some signfiicant local weather challenges, home sales thus far in 2014 in the CHS region continue to forge ahead, with homes sales up 14% from the Jan-Feb time period of 2013. Home prices are also up, 10% over the same period. Tyrone Richardson of The Post and Courier has the story.
Southwest Airlines wants to add a reported two flights a day from CHS to Dallas – if it gets awarded two gates at Love Field as part of American Airways give-back of gates from its pending merger with USAirways. Warren Wise of The Post and Courier has the full story.
JetBlue Adding Flights Between CHS and Washington DCJetBlue will add two daily flights between the Holy City and the nations Capitol in another resounding bang of the drum of CHS’ economic growth.