August 16, 2017
The SC Department of Commerce recently released its economic impact study of South Carolina’s Life Science industry, validating the significance of the sector to the state’s economy and its growth opportunities.
400 life science companies in SC generate $11.4 billion in annual economic impact, employ 15,000+ people, and pay 95% higher wages than the state’s average.
The SC Department of Commerce has demonstrated its commitment to growing this sector by: forming a strategic partnership with S.C. Biotechnology Industry Organization (SCBIO), hiring a new Director of Innovation to support the start-up ecosystem and research, and designating members of the Global Business Development team to specialize in recruiting life sciences projects.
Life sciences is also an important driver for Charleston’s regional economy, and the Charleston Regional Development Alliance (CRDA) has developed a targeted business recruitment effort and strategy to strengthen collaboration among the local life science ecosystem. (We currently have 27 industry prospects in the pipeline.)
A diverse group of life science companies have grown or chosen to locate in Charleston (Check out Who’s Here).
Here are some reasons why:
Recent company announcements and construction activity are also positive indications of more to come:
Click here for an industry profile on Charleston’s Life Science sector.
Upcoming Events: SCBIO Annual Conference will be held in Charleston this year on October 24-26th at The Gaillard Center. Check out updates on the conference here.
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