Recently, Research Economist Joey von Nessen spoke to ETV Radio at a South Carolina aerospace conference on exciting trends in the state’s aerospace industry. Though the state is still a newcomer on the national aerospace stage, he says our state’s rapid growth is an exciting indicator of great things to come.
Dr. von Nessen works with the Division of Research at the University of South Carolina’s Moore School of Business to track and analyze South Carolina’s economic statistics. They recently compared South Carolina’s aerospace industry to four states: Georgia, North Carolina, Alabama and Washington.
Across all states, South Carolina experienced the fastest growth in aerospace employment, revenue and overall sales over the past five years. Of course, this growth is partially due to Boeing’s presence in the state, but as von Nessen pointed out, more than half of the aerospace firms in South Carolina are not directly associated with Boeing.
This indicates that the state’s aerospace industry is healthy and diverse – a good indicator of continued economic growth.
Despite the exciting growth of South Carolina’s aerospace industry, Dr. von Nessen advised listeners to keep things in perspective. The state’s overall number of employees is the lowest among comparison states, which means it’s still a relatively small player nationwide. If the sector continues to grow and thrive as expected, look for exciting things in South Carolina’s aerospace future.
To hear to the complete interview, check out Mike Switzer’s South Carolina Business Review.
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