Robust market will continue to absorb new construction

Key Takeaways

  • The Greenville-Spartanburg-Anderson industrial market should continue to expect low vacancy and rent increases.
  • The skilled workforce and improving infrastructure will help recruit new companies and investors to the market.

Skilled workforce development

South Carolina is a flurry of industrial activity as the plans of an expanding Port of Charleston come to fruition, logistics infrastructure improvements begin and global companies continue to locate and invest in South Carolina. South Carolina was ranked #2 on the 2017 Top States for Doing Business commentary by Area Development magazine, in addition to being awarded a “2017 Silver Shovel Award” in the States with 3 to 5 Million Population category. The Shovel Awards are awarded to states that are “compiling healthy and impressive rosters of projects and announcements, expansions and new facilities.” With these statewide honors, it is easy to see why business is picking up across the state, and the Greenville-Spartanburg-Anderson area is no exception. Industrial employment comprises 10% of the total workforce; in addition, there have been 1,700 total non-farm jobs added from January 2017 through January 2018, which is a 3% increase over last year.

As major global employers locate throughout South Carolina, they strive to hire employees who have the skill set to fill the positions needed. There are several workforce development programs in the Greenville-Spartanburg-Anderson markets that assist in readying a skilled labor force. Apprenticeship Carolina and readySC are partnered with a network of five technical colleges within the GSA region who provide workforce training for both new and upskilling employees, in addition to apprenticeship programs to ensure when employers locate in South Carolina, they have capable and skilled employees to fill critical positions.

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