The Town of Mount Pleasant was the last stop on South Carolina Chamber of Commerce’s Grassroots Tour, billed as an interactive information session, that began on Aug. 3 in Indian Land and has since gone through Aiken, Spartanburg, Myrtle Beach, Santee and Darlington, among other cities in the Palmetto State.
On hand to deliver the good and bad news concerning South Carolina’s burgeoning economic climate was the Chamber’s President & CEO Bob Morgan, the keynote speaker at the Oct. 19 Mount Pleasant Chamber of Commerce luncheon at the Omar Shrine Temple.
The University of North Carolina graduate reaffirmed his organization’s mission to be the “leading voice” for business in the state before highlighting South Carolina’s economic competitiveness.
On that note, his communicated that South Carolina was the third fastest growing state in 2022 that also saw a record capital investment in the state to the tune of $10.2 billion, along with the addition of 14,000 new jobs.
Moreover, Morgan reported that South Carolina currently maintains the fourth largest highway system in the nation.
On the topic of workforce development, the Chamber’s third-year leader further mentioned the state’s low unemployment rate (3.0 percent), compared to the national average (3.6 percent).
However, he also noted that South Carolina falls short in the labor force participation rate (56.9 percent versus the national average of 62.6 percent), as roughly 1.8 million jobless residents are “on the sidelines.”
In fact, a Palmetto Business Barometer survey indicates that 35 percent of participant companies believe that it will be increasingly harder to find qualified workers in the next six months.
Unemployed individuals in South Carolina, he added, presently receive benefits longer than all other states in the Southeast. Legislators have reportedly given some thought to reducing that eligibility period, according to Morgan.
Luncheon guests and local Chamber members were subsequently treated to the results of a recent study that revealed the top barriers for the jobless, including:
• Low wages
• Health
• Gaps in employment history
• Transportation
• Optimal hours not available
• Disabilities
• Lack of child care
• Age (too old)
• Criminal record
During his address, Morgan later identified how red-tape is hurting businesses due to South Carolina having the 15th most burdensome licensing laws in the country. That reality, according to the numbers, is producing a widespread impact, as one out of five occupations in the state requires professional licensure.
To that end, a growing number of environmental permits are facing delays caused by “excess interference” from citizen groups that are serving businesses with “unnecessary and costly” setbacks.
Morgan went on to request feedback from the crowd, comprised mainly of local Chamber members who own and/or represent area businesses. These questions included: What is the biggest drag on your business’ earning potential? Is your business struggling to hire and retain qualified workers? Would your business or organization be interested in a reimbursement from the state for providing employees with credit for childcare?
Feedback received from the grassroots tour, explained Morgan, will be used in formulating the Chamber’s Competitiveness Agenda that will contain the business community’s top legislative priorities.
The process not only involves the recently-concluded grassroots tour with community chambers, but also a South Carolina Chamber survey, policy committee feedback and South Carolina Chamber Board approval.
“You’ll be part of the collective voice that legislators, the governor’s office, others ask us frequently: What are you hearing out there? And we share this information with them,” detailed Morgan.
The Chamber spokesperson wrapped up his presentation by asking listeners to think about ways to establish a more vibrant quality of life in South Carolina. Options cited by Morgan were: better average wages, improved access to high-speed broadband and expanding/enhancing healthcare.
Morgan invited everyone to subscribe to the Chamber’s free weekly newsletter through the organizational site, www.scchamber.net, to stay up to speed on public policy and developments directly impacting businesses.