Charleston region’s economic growth among best in US, but there are drawbacks

The Charleston region’s economy has soared to 16th-best in the nation as cargo growth at the port and more than $1.6 billion in automotive industry investments have kept the area humming, a new report shows.

The latest ranking by the Milken Institute, a Santa Monica, Calif., think tank, is up from No. 22 last year.

“Gas prices are down, tax reform should help with take-home pay, job growth is continuing, new graduates are finding jobs — put all that together and the economy looks pretty good,” said Frank Hefner, an economist at the College of Charleston.

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The Milken report says the Charleston area’s diversified economy — which also boasts Boeing Co.’s 787 Dreamliner assembly campus — will help to insulate the region from national economic shocks.

Read the full story, HERE.

Learn more about Charleston Aerospace and Automotive sectors, HERE.