Charleston-North Charleston

The boom in the Charleston region has created an affordable housing shortage and has congested local commuting arteries as 57,000 commute each day into the peninsula.

The region’s growing manufacturing sector is pressing capacities for the region. Boeing, Volvo Cars, and Mercedes-Benz Vans have heavily invested in the region that was once fully reliant on tourism and the military. Volvo and Mercedes-Benz Vans are putting the finishing touches on a combined $1.6 billion worth of new manufacturing plants that will produce vehicles starting this year. The amount of cargo moving through the Port of Charleston is expected to approach 2.4 million containers by 2019, exceeding the record 2.2 million cargo boxes recorded in 2017. Construction labor shortages are being reported by local contractors. Unemployment is a very low 3.1% as of June 2018. There still appears to be shortages of carpenters, electricians, equipment operators, and concrete workers, however we are seeing much more competitive bidding on public projects and subs enter back into the education, municipal, and healthcare sectors relieving the bidders’ market we have experienced in 2017-2018 slightly. Possibly a by-product of the recent surplus of mixed-use, multi-family, and office space units in the Charleston area due to the recent construction boom of 2016-2017.

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