A new report released last week by the American Council of Engineering Companies of South Carolina (ACEC-SC) in partnership with the University of South Carolina’s Darla Moore School of Business projects that from 2021-2027, infrastructure investment and the construction industry will have a total impact of $56 billion on the state’s economy, creating over 45,000 jobs, underscoring just how much infrastructure investment powers South Carolina’s economy.
The report also shows that in-state infrastructure maintenance, modernization, and expansion could lead to the creation of 157,000 new jobs over the next decade, to the tune of more than $16 billion in annual labor income for South Carolinians. The report found that these jobs, spanning construction, engineering, logistics, and professional services, pay 9.8% higher annual income than other jobs across the state.
With continued investments in infrastructure, the state’s employment will grow by 1.5% compared to a rate of just .9% without, as improved infrastructure unlocks greater productivity across multiple sectors, from logistics and manufacturing to healthcare, tourism, and agriculture.
To read the full story, click here.