Economics

What Are The Biggest Industries In South Carolina?

The textile goods industry is a major industry in South Carolina.

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South Carolina is a state found in the southeast United States. It shares its borders with North Carolina and Georgia. South Carolina was the 8th state to ratify the country’s constitution on May 23rd, 1788. The state has 46 counties, and the largest city is Charleston while its capital is Columbia. According to the Bureau of Economic Analysis, South Carolina has a GDP of 230,367 million dollars. Here is an overview of the biggest industries in South Carolina: 

Agriculture

Agriculture in South Carolina is diversified and heavily mechanized. Some of the leading agricultural commodities in the state include greenhouse nurseries, turkeys, broilers, corn, cotton, soybeans, wheat, eggs, and cattle. Currently, there are about 25,000 farms in South Carolina which cover an area of 4.9 million acres. As of 2018 capital investments in Agribusiness firms stood at $485.3 million and 9.1% the economic output in the state was attributed to agribusiness. In the same year, the agricultural economic impact on the economy was estimated at $41.7 billion and directly supported 68,000 jobs.

Tourism

Tourism in the state is one of the biggest industries. Tourism generates about $15 billion and is responsible for more than 10% of jobs in the state. There are many tourist attractions spread across the state of South Carolina. The coastal area has some of the major tourist destinations. The Grand Strand is a stretch of beach in Myrtle Beach, which is home to over 100 golf courses and 400 hotels. 

Automotive

The automotive industry is one of the largest industries in the state of South Carolina. It features a wide range of companies in auto manufacturing, automotive suppliers, and automotive component manufacturers which have a combined yearly economic impact of more than $27 billion. In 1994, the first BMW car was rolled out from South Carolina’s assembly line from the manufacturing facility. Currently, South Carolina is one of the leading States in the manufacturing of automotives. The state is also one of the leading producers and exporters of tires, accounting for almost a third of the market share in the country. South Carolina is one of the leaders in export sales in passenger vehicles and tires.

Aerospace 

Aerospace is one of the most vibrant industries in South Carolina having an economic impact valued at $19 billion. Over the years, the aerospace industry has evolved to become one of the key pillars of South Carolina’s economy. In 2009, Boeing chose the city Charleston as its final assembly plant and a delivery facility. From that time, the aerospace industry has grown significantly. Currently, there are more than 400 companies in South Carolina carrying out manufacturing activities related to aerospace, and employs more than 22,000 residents of the state. 

 

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