An economic analysis shows that more than 4,250 jobs are supported by SCRA programs, and SCRA’s economic output in South Carolina totaled $718.6 million.
The study, led by University of South Carolina research economist Joey Von Nessen, found SCRA programs yielded higher-than-average wages and supply chain effects. The study focused on corporate operations, the SC Launch entrepreneurial program and SCRA facilities.
“It is gratifying to see the results of our collaborative efforts over the past year in fostering job growth and South Carolina’s innovation economy,” SCRA Executive Director Bob Quinn said. “In 2017, SCRA focused on aligning our strategies to meeting our core mission, and the results of those efforts were substantive.”
Chartered by the state in 1983, SCRA is a public nonprofit corporation that fosters innovation in South Carolina.
With an employment multiplier of 2.5, SCRA creates 15 additional jobs for each 10 jobs it supports, the study found. The state average is 1.8. The average salary of South Carolina-based jobs supported by SC Launch client companies was $81,421, nearly double the state average.