October 26, 2004

Average Wage Levels at Charleston Digital Corridor Companies Continue to Exceed State and Regional Averages

Digital Corridor Release

Charleston, SC - The second annual survey by the Charleston Digital Corridor found that the average wage for corridor companies is just over $78,000, over two times the average annual wages for the State of South Carolina and Charleston/North Charleston metropolitan area.

The latest data available from the US Bureau of Labor Statistics shows that South Carolina's average wage for all occupations is $31,160. The average wage in the Charleston/North Charleston metropolitan area, comprised of Berkeley, Charleston and Dorchester counties, is $31,380.

"The release of the 2004 Wage Survey demonstrates that the highly focused, value-added approach practiced by the Digital Corridor is proving successful," said Charleston Digital Corridor Foundation Chairman, Kirk King, also a Corridor CEO. He added, "With these average wage levels exceeding the 2003 figure of approximately $71,000, we are now starting to reverse the trend of stagnant wage rates in the region."

Acknowledging the 2004 wage data, Charleston Mayor Joseph P. Riley, Jr. reaffirmed his commitment to Charleston's growing knowledge-based community. "The Touchdown Space, Talent Portal and the Corridor Fund, represent three innovative initiatives launched by the Charleston Digital Corridor this summer," stated Mayor Riley.

According to the Digital Corridor's newest member, Jeff Grady, "these unique initiatives are valuable to existing and relocating companies, the target of the Charleston Digital Corridor."

About the Charleston Digital Corridor

The Charleston Digital Corridor is a creative effort to attract, nurture and grow high-tech and knowledge-based companies and industry professionals to the City of Charleston through a combination of City initiatives and business incentives, private business support and member-driven programs. With the goal of offering tangible resources to the business community, the Digital Corridor serves as a portal to government, infrastructure, real estate, education, venture capital, professional resources and a trained workforce.

In partnership with regional economic development agencies, communication infrastructure providers, along with the academic and private sectors, the Digital Corridor's commitment is to facilitate an environment where technology companies thrive. The Charleston Digital Corridor consists of four geographic sections (districts) of the city, offering a diverse range of options to meet the unique size, price and infrastructure requirements for a variety of knowledge-based industries. To learn more about the Corridor, please visit www.charlestondigitalcorridor.com.

For further information contact:

Ernest Andrade
(v) 843.724.3773
(c) 843.607.1264

Kimberly Demetriades
(v) 843.579.7659