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According to the SC Competes 2024 SC Tech Economy Impact Study, South Carolina’s technology sector generated $51.7 billion in economic impact for the state.
A study by research economist Joseph von Nessen of the South Carolina Council on Competitiveness’ Darla Moore School of Business Research found that South Carolina’s high-tech industry is growing twice as fast as the state’s overall economy. is shown. In the last 10 years.
“Technology is reshaping South Carolina’s economic future, supporting growth, innovation and good-paying jobs,” SC Competes President and CEO Susie Shannon said in the release. said. “We are committed to ensuring South Carolina remains a center for technology talent and innovation as we move into the future.”
According to the study, South Carolina’s industry expansion and increased reliance on technology means that the technology sector supports 143,000 jobs and generates $13.8 billion in labor income.
“The demand for technology-related products, services, and skilled labor is rapidly increasing as companies across all industries become increasingly reliant on technology in their business operations and supply chains,” said SC Competes, South Carolina Technology Director. Jamie Dement said in a release. . “This study shows that technology growth in the Palmetto State shows no signs of slowing and will be a driving force in supporting the technology sector across the state through startups, scale-ups, hiring and more.”
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According to the study, employment in the technology sector has increased by 56.7% since 2020. Among employed workers, average wages were 78% higher than the state average for other industries.
“Comprehensive, South Carolina-specific data from surveys like this one can help demonstrate the role that upstate regions play in the state’s technology-driven economy, supporting innovation, job creation, and We can highlight our contribution to sustainable growth across industries,” said Elizabeth Watson. Upstate SC Alliance Director of Research and Strategic Initiatives said in a release.
According to the study, since 2019, data scientist has grown by 169%, making it the fastest growing profession in the technology industry.
Click here to read the full study.
