SCRA 2007 Economic Impact Study
A recent study discovered that in 2007, the economic imact of SCRA operations, technology parks, and programs in South Carolina was $1.4B.
The economic impact study was conducted by Douglas P. Woodward, Ph.D., Director of Research in the Division of Research and Professor of Economics at the University of South Carolina Moore School of Business; and Paulo Guimaraes, Ph.D., Clinical Associate Professor in the Moore School.
According to Dr. Woodward, SCRA’s efforts “contribute to the state’s development in a myriad of ways: promoting technology capabilities, managing research parks, and helping generate small business and entrepreneurial development through SCRA affiliate SC Launch. These activities produce tangible results: jobs and income for South Carolinians.”
Findings include:
- The total economic impact of SCRA operations, technology parks and SC Launch! was $1.4 billion in 2007.
- On average, the direct jobs supported by SCRA pay three times the state’s median annual wage.
- Spending from this substantial income produces ripple effects for the state, encompassing 11,765 jobs generating $521 million per year in labor income for the state’s economy.
