October 25, 2012

Charleston's Knowledge Economy Affirms Solid Job Growth in 2012

Charleston Digital Corridor Release

One Hundred Percent of Reporting Companies Add Jobs

CHARLESTON, S.C. - October 25, 2012 - In its 2012 Wage and Job Growth Survey, the Charleston Digital Corridor is once again pleased to report that knowledge-based companies, comprising a growing portion of Charleston's economy, have posted the ultimate statistic in employee growth. 100% of participating companies reported adding jobs and 73% expect to continue hiring by years' end.

While this consistent year-over-year job growth is a testament to the sustainability and durability of Charleston's knowledge economy, at $66,862 the average wage level by reporting companies also represents a strong 1.73 and 1.64 times State and Regional (Charleston-North Charleston-Summerville MSA) average per-capita wages, respectively.

"Today, we stand witness to an economic harvest resulting from a long-term business development strategy by the City of Charleston focused on developing Charleston's knowledge economy. I am glad to be a beneficiary, and also a contributor, to our thriving software industry," said BoomTown CEO and 2012 Inc 500 "Fastest Growing Company" winner, Grier Allen.

Beyond strong job growth and wage levels, the Digital Corridor is also pleased to report a new statistic - 43% of reporting companies have increased their office space in 2012 and 21% of these companies expect to lease additional space in 2013. This statistic will allow the Digital Corridor to address the office space needs for Charleston's robust technology sector.

"The journey is just beginning. Investments in practical talent development and apprenticeships are crucial to expanding Charleston's Renaissance and position in the global economy as an exporter of software products and services," said Ernest Andrade, Director, Charleston Digital Corridor.


About the Charleston Digital Corridor
The Digital Corridor is a creative initiative to attract, nurture and promote Charleston's knowledge economy through a combination of technology-enabled initiatives and business incentives, private business support and member-driven programming. To learn more, visit www.charlestondigitalcorridor.com.

Ernest Andrade