South Carolina Aerospace industry trends toward sustainable growth

SC Aerospace Conference & Expo has reported South Carolina´s aerospace industry is trending toward diversified and sustainable growth, the company said.

An economic impact study released by the South Carolina Council on Competitiveness shows that the impact of aerospace on South Carolina´s economy has grown to USD19 billion, an increase of USD2.0 billion since last measured in 2014.

The council´s study found that for every 10 jobs created in the private sector component of the aerospace cluster in South Carolina, an additional 13 jobs are created elsewhere in the state´s economy. The average total compensation for private sector aerospace employees is USD70,000 per year.

South Carolina Secretary of Commerce said more than 30 aerospace companies have announced a new location or expansion in South Carolina since 2011, bringing several thousand new jobs to the state.