Mike Switzer interviews Alan Cooper, founder and editor of three online business news websites in South Carolina: MidlandsBiz, UpstateBizSC, and LowCountryBizSC. Alan and Mike discuss the many billions being spent on infrastructure in SC and the resulting need for qualified workforce and affordable housing.
TRANSCRIPT:
Switzer: Hello and welcome to another edition of the South Carolina Business Review. This is Mike Switzer. It's Monday, and that's when we like to take a look at current business issues that are trending across our state and discuss them with one of our fellow news media friends. This week we have Alan Cooper, founder and editor of three online business news websites in South Carolina, Midlands Biz, Upstate Biz SC and Lowcountry Biz SC Allen. Welcome back to the program.
Cooper: Mike, thanks for having me.
Switzer: So tell us what's showing up on your radar this week?
Cooper: One of the things that popped up on my radar was a report released through the USC Darla Moore School of Business, specifically, analyzing the short and long term economic impacts of major infrastructure investments in South Carolina. So these kind of fall under the category of broadband, transportation, stormwater resilience. But we've seen it, right? We can see the evidence of construction at least on the roads.
Switzer: Yeah, on the roads, for sure, for sure.
Cooper: So this is what it's saying is that there's been $39 billion in infrastructure investment in South Carolina between 2021 and 2028. Joey Von Nessen always factors in and multiplier effect on those investments do multiply. So the overall economic impact of these infrastructure investments is $66.6 billion in economic activity, 38,000 jobs supported. So, you know, we're building better roads. Those better roads are going to attract even more businesses. I think that's great. But it really was kind of like a first little indicator of the amount of money that we are spending and the impact that that's going to have on South Carolina.
Switzer: And it looks like that spending is going to continue because there are so many roads that still need fixing, etc. And of course, how about the workforce? Do we have the workforce we need for this?
Cooper: Yeah. So that is another major issue. Midlands Technical College is expanding its building Construction Technology Training Center. It's been supported by a $1 million Lowe's foundation grant. New training spaces, labs, equipments, capacity for construction and skilled trades. I found it, Mike, really interesting down in the low country at, Charleston Southern University. In 2021, they started an aviation workforce training program. And just recently they announced a 1.2 million federal grant to expand that program. I think that's a great fit for South Carolina, obviously, with our great core competency and aeronautics. So, yes, there are lots of ongoing investments into the workforce and to being prepared for these companies that are coming to South Carolina.
Switzer: And then of course, that brings us to another major issue. Affordable housing. Where will everybody live?
Cooper: Yeah, so everybody hopefully, is starting to make the connection, you know, that housing isn't simply a social issue anymore, it's a workforce, economic development issue. If the workers can't live near the jobs we're creating, that growth just does not become sustainable. So there's been lots of efforts. Recent developments. The coastal, Community foundation of South Carolina in the low country has launched a $100 million over five ambitious goal to raise funds to improve housing affordability in Charleston, Berkeley and Dorchester counties. Lots of innovative ways, different models of trying to long term impact housing prices in the low country. It's just so critical, as we've just seen people not being able to like, I don't know, there's Mike, there's stats out there like, you know, 20 years ago people could needed $36,000 annually to cover basic living costs in the low country and now it's over $90,000. So you can't continue this trend, of not having enough houses and housing shortages if you want sustainable growth in each of these markets. So it all kind of comes down to like these questions. We're growing quickly, so the questions just have to be, can our infrastructure keep up? I'd say yes. Can we train enough workers? Yes. Great investments are taking place there. Can those workers afford to live near their jobs? You know, that's to be decided. I don't know if we can give a definitive yes on that yet. That seems to be a real struggle. But efforts are being made across the state to make sure that this is a state that we want to live in 50 years from now.
Switzer: Well, Alan, as always, thanks for your time and the update.
Cooper: Mike, thanks.
Switzer: Alan Cooper is founder and editor of three online business news websites in our state. We will have links to all of those, so you can learn more at our webpage, SouthCarolinaPublicRadio.org where you can hear this show again. Remember, you can hear us again wherever you find Podcasts with the South Carolina Business Review. This is Mike Switzer.
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