NORTH CHARLESTON, S.C. (WCSC) – The Charleston Metro Chamber of Commerce sees the city heading toward a big economic year, something they are sharing with business leaders at an annual event.
The Charleston Metro Chamber of Commerce’s Economic Outlook Conference is sharing data with businesses across the country Tuesday.
The event will gather more than 370 community and business leaders, along with economists from the College of Charleston, to discuss trends and forces driving the region’s continued growth to help businesses to remain proactive in a changing economy. Among the top contributors they found are increased air service and a growing workforce.
Officials say the rise in passenger traffic through Charleston International Airport has fueled both tourism and business investment. The expansion has attracted new corporate headquarters to the region, bringing in revenue that is being reinvested into local goods, services and job opportunities.
“It’s hard to have economic growth if you don’t have population growth. That is key,” the President and CEO of the Charleston Metro Chamber of Commerce, Kevin Sheilley, says. “If you really look at the diverse economy that’s been built in this community over the last 30 years, it’s the envy of many places in the country. They want an economy like this.”
Sheilley says the region’s economic diversity, spanning between tourism, manufacturing, health care, the military and port activity, has helped sustain strong growth across multiple sectors.
“When you take all those pieces together, you’re building an incredible economy,” Sheilley says. “Where you might expect one or two sectors to be down, they’re all doing well, and that just furthers that growth.”
While optimism remains high, local leaders say growth also brings challenges. The Chamber identified transportation and affordable housing as the top concerns facing the Charleston area.
Officials say they are partnering with public and private organizations to address these issues through market-based solutions, emphasizing that it’s easier to manage such challenges during periods of expansion than during economic downturns.
The conference, which will be from noon to 1:30 p.m., is completely sold out. The Charleston Metro Chamber of Commerce plans to release its full annual economic forecast report on its website following the event.
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