(Columbia) – The few people who refuse to see that South Carolina is enjoying an unprecedented economic boom ought to have their eyes opened this morning by reading the Southeast Journal, inside today's Wall Street Journal.
Here are a few selected quotes and phrases from today's story, which has economists forecasting South Carolina as the fastest-growing state in the region:
South Carolina is a "shooting star" among its sister states.
"The fourth quarter's biggest surprise is that a perennial middle-of-the-pack player, South Carolina, has bolted to the front, with an economic engine that suddenly is firing on all cylinders at a time when others are beginning to sputter."
"From new back-office service centers in Charleston to growing legions of hotels and restaurants in Myrtle Beach, the state is booming."
And this from Wake Forest University economist Gary Shoesmith: "South Carolina is really on fire and I don't expect that to stop for a while."
The Wall Street Journal's panel of economists predicts South Carolina to grow at a 4.2 percent annual rate, compared with 3.7 percent for the Southeast as a whole and 2.8 percent for the nation.
South Carolina's unemployment rate in August was region-low 3.5 percent, compared with a national rate of 4.5 percent. A year ago, South Carolina's unemployment rate was 4.3 percent.
For each of the past three years, South Carolina has racked up more than $5 billion in capital investments. The state had never cracked the $4 billion figure before Governor Beasley came into office.
"I wish I could take credit for all of this great news. But I can't.
We've had a lot of great partners the last four years – Commerce Secretary
Bob Royall and his team, local economic developers, local elected officials,
and business leaders around this state. Most importantly, the great workers
of South Carolina get the credit, because without their dedication, we
wouldn't see companies come here and the ones already here expand," the
Governor said.