News Summary
The South Carolina Technology & Aviation Center (SCTAC) in Greenville is generating an astounding $6.1 billion in economic impact annually. As a hub for over 100 companies, including heavyweights like Lockheed Martin and Michelin, SCTAC supports nearly 18,000 jobs while significantly contributing to local tax revenue. Established in 1964, SCTAC has evolved into a vital component of the region’s economy, boosting advanced manufacturing and providing educational collaborations. This impressive economic engine is transforming the Upstate, making it a key player in South Carolina’s manufacturing sector.
Big News for Greenville: SCTAC’s Amazing Economic Impact!
In the heart of Greenville, South Carolina, there’s a powerhouse that’s making waves in the economy, and that powerhouse is none other than the South Carolina Technology & Aviation Center (SCTAC). This remarkable center is not just buzzing with activity—it’s generating a jaw-dropping $6.1 billion in economic impact every year, with most of that amazing figure, about $5.9 billion, funneling into the Upstate region.
What Makes SCTAC So Special?
Located conveniently near Interstate 85, SCTAC is not your typical business park. It’s an unparalleled international business hub packed with the kind of technology, infrastructure, and amenities that major companies crave. Picture this: over 100 companies are currently thriving at SCTAC, many of which specialize in advanced manufacturing, particularly in the aerospace and automotive realms. Since 2017, the center’s economic impact has actually tripled, transforming the local landscape. That’s something to cheer about!
Who Are the Big Players?
Heavyweights like Lockheed Martin, Michelin, and 3M are just a few of the big names calling SCTAC home. With the world’s only F-16 production and sustainment site nestled within the park, Lockheed Martin rides high within this golden location. A world-class automotive proving ground on campus adds another layer of attraction, which has helped to draw companies looking to innovate and expand.
The Booming Job Market
Now let’s talk about employment—because it’s not just about numbers; it’s about people making a living! SCTAC supports approximately 17,873 jobs in the Upstate, which is no small potatoes. The annual income generated from these jobs is huge, contributing more than $1.3 billion in labor income each year. When you break this down, the average salary for these positions is around $91,456, which is a whopping 70% more than the average annual salary in the wider Upstate region. That’s a big win for many local families!
A Thriving Manufacturing Sector
The manufacturing scene in South Carolina is blooming like never before, with employment in this sector more than doubling since 2010—a stunning growth rate of 103.5%. This means that SCTAC is not just part of the local economy; it’s a key catalyst, supporting one out of every nine manufacturing jobs in the Upstate. This impressive figure reflects how SCTAC helps emerging companies grow alongside well-established original equipment manufacturers (OEMs) and their supply chains. The local supplier base cultivates job opportunities that have a significant ripple effect through the community.
Tax Revenue Contributions
Let’s not forget the taxman! SCTAC generates an exceptional $102.7 million in tax revenue annually for the state of South Carolina. These funds could be vital for local infrastructure, education, and public services, all contributing another layer of benefit to residents of Greenville and beyond.
A Rich History
The story of SCTAC is equally interesting. Established back in 1964 on what used to be the Greenville Army Air Base, which served military purposes until 1963, this center has evolved tremendously. It sits on a sprawling 2,600-acre business airpark featuring the largest general aviation airport in the state—Donaldson Field.
Collaboration with Educational Institutions
Collaboration is key at SCTAC! In partnership with Clemson University’s International Center for Automotive Research, the automotive proving ground continues to foster innovation and research. This collaborative spirit enriches the local community, offering students invaluable hands-on experience in automotive projects.
From boosting economic growth to creating high-wage jobs and collaborating with educational institutions, the South Carolina Technology & Aviation Center is certainly a shining star in Greenville’s landscape. With such an impressive economic impact, there’s no doubt that SCTAC is not just a business park—it’s a beacon of opportunity for many!
Deeper Dive: News & Info About This Topic
- Greenville Business Magazine: SCTAC’s $6.1 Billion Yearly Impact
- Greenville Online: $6.1 Billion Impact on SC from Business Park
- Upstate Business Journal: SCTAC Landing New Clients
- Google Search: SCTAC
- Greenville Online: CEO Jody Bryson Leads SCTAC Development
- Wikipedia: South Carolina Technology and Aviation Center
- Upstate Business Journal: Argo AI Test Facility at SCTAC
- Encyclopedia Britannica: South Carolina
- Greenville Journal: The Scoop with Amy Doyle
- Google News: SCTAC Economic Impact
