Greenville Thrives with Manufacturing Boom
In the heart of the Upstate, the city of Greenville is shining brightly as a hub of economic growth and innovation. New data shows that the automotive and aircraft manufacturing industries are playing a significant role in fueling South Carolina’s economy, with the state boasting a remarkable $6.1 billion economic impact each year thanks to the South Carolina Technology and Aviation Center (SCTAC). This sprawling business park is situated just off I-85 and is home to over 100 advanced manufacturing companies, making it a major player in the Palmetto State.
What’s Driving Growth at SCTAC?
According to a recent economic impact study led by research economist Dr. Joseph Von Nessen, the Upstate is the place to be for manufacturing jobs, with approximately 45% of these positions located right here. Notable companies like Lockheed Martin, 3M, Michelin Prime, and AirMed Regional are all part of the SCTAC community, which spans an impressive 2,600 acres.
Within this expansive area, you will find facilities that house a general aviation airport and an automotive test track, along with easy access to both inland and coastal ports. Lockheed Martin is making headlines for manufacturing the F-16 fighter jet at SCTAC, showcasing the high-skill jobs available in the area.
Local Leaders Applaud SCTAC’s Impact
South Carolina Governor Henry McMaster recently commented on SCTAC’s vital role in the local economy, stating, “SCTAC has been a driving force for economic opportunity in the Upstate. The unique assets and strategic business model of SCTAC have helped attract Lockheed Martin, Michelin, 3M, and countless other companies seeking a perfect location to prosper.” This reflects the close-knit relationship SCTAC enjoys with local leaders and economic development groups.
Who Works at SCTAC?
So, who are the people driving this remarkable economic engine? The study found that approximately 8,325 employees work at SCTAC businesses, with an average annual salary that soars above $91,000. It’s a thriving hub where approximately 21.6% of employees are involved in aircraft manufacturing, 10% in pharmaceutical production, 9% in adhesives manufacturing, and 6% in tire equipment production. The range of specialties shows just how diverse and dynamic the job market is here.
But wait, there’s more! SCTAC businesses hold a significant share in the local job market, providing one in nine manufacturing jobs in the Upstate. Additionally, they contribute about $102.7 million in tax revenue, further benefitting the region.
Looking to the Future
The future looks bright for SCTAC and the surrounding area, as the study indicates a stellar growth trajectory. From 2010 to 2023, South Carolina’s transportation equipment manufacturing sector grew by a staggering 103.5%. To add to that, South Carolina’s overall manufacturing sector has grown by over 26%, which is double the national average of 12%.
In response to this booming industry, SCTAC has plans to invest about $87 million in capital improvements by 2025. Planned enhancements include facility upgrades at the airport, improvements to taxiways, and an expansion of the automotive test track to better serve the needs of these growing industries.
Conclusion
For residents of Greenville and the broader Upstate community, these developments are thrilling news. With economic growth on the rise fueled by manufacturing, it’s a great time to be in South Carolina. As SCTAC continues to draw in major players and innovate, the area is poised for even more exciting developments in the future.
