Charleston, S.C. has long been regarded as one of the best cities in America due to its strong job market, low unemployment, and many other highly attractive features. Even as most of the country continues to struggle with the economic impacts of COVID-19, Charleston has many bright spots on the recovery horizon, including the important status of Boeing in the area. The aerospace industry is one of the largest industries in the state and in Charleston, led by Boeing.
Boeing Plans to Consolidate All 787 Production to North Charleston in 2021
Boeing South Carolina, located in North Charleston, is currently one of two major manufacturing, assembly, and delivery sites for the Boeing 787 Dreamliner. The North Charleston center of operations is a 1.2 million square feet facility and employs approximately 7,000 workers and contractors. In a move to boost efficiency and reduce costs, Boeing executives have announced that they will discontinue 787 production operations in Everett, Washington and consolidate all 787 operations to the Charleston facility, starting in mid-2021. This change resulted from a study examining all the impacts and benefits of such a move to Boeing’s customers, employees, suppliers, and its entire production system. This move could potentially add more employees to the North Charleston facility, and keeping the Boeing operation strong will be a boon to the Charleston economy.
Other Good Economic and Business News for Charleston
While this news about Boeing is encouraging for Charleston, there are other good things taking place in Charleston:
- The S.C. Port Authority saw its largest increase in vehicle volumes in December, up 29.2% over a year ago, despite worldwide supply challenges. The port is a critical economic and jobs contributor in Charleston. It is a vital link in the supply line for food products, manufacturing parts, retail goods, and medical supplies.
- The South Carolina Research Authority (SCRA) contributed over $950 million to the state’s economy in 2020, a 35% increase over 2019. SCRA funding provides mentorship and support for market-viable research projects, technology advances, product development, business launches, and helps fund the costs for businesses to relocate to South Carolina.
- Jobs continue to have a positive outlook for the Charleston Market. According to a study by United Van Lines, South Carolina was the second most popular state to move to in 2020. The reason for many of those moves was for jobs. U-Haul, reporting its own study, indicated that Charleston was the 17th fasted-growing city in the country for moves.
- A Charlotte-based firm plans to develop up to 850,000 square feet of Class-A industrial space in North Charleston. The planned development will occur in phases with the first phase to be completed in the second quarter of 2022.
- Liberty Hall Capital Partners, a private equity company that invests in the aerospace and defense industries, has announced its seventh acquisition, bringing a company to Charleston that creates digital tools to eliminate printed flight manuals for pilots and other aerospace and rail transportation users.
Charleston Continues to be a Great Place to Live and Work
Charleston is an attractive city because of its abundant natural beauty, friendly hospitality, great food, great education system, excellent transportation system, low crime rate, stable housing market, and much more.
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