Charleston's Economy News: July 2024

Charleston is thriving with numerous exciting developments that reflect the city's dynamic growth and community spirit. From new flight services to significant real estate projects and cultural initiatives, here’s a roundup of what's happening in our vibrant city.

New Flights to New Hampshire

Travel just got easier with Breeze Airways debuting new service from Charleston to New Hampshire’s Manchester-Boston Regional Airport. These seasonal flights operate on Mondays and Fridays, offering convenient travel options for both residents and visitors.

Affordable Housing in Charleston Eastside

A significant milestone in Charleston's real estate landscape is the opening of a $43 million affordable housing complex in the Eastside. The historic Henry P. Archer School, originally built in 1934 for African-American students during segregation, has been revitalized as affordable housing for seniors. This community-driven project includes two additional buildings, creating a complex of 89 one- and two-bedroom apartment units. This transformation not only preserves a piece of Charleston's history but also provides much-needed affordable housing.

Colonial Lake Renovation Campaign

In a bid to preserve and enhance one of Charleston’s beloved green spaces, the Charleston Parks Conservancy has launched a $125,000 campaign to renovate Colonial Lake. This two-year project aims to transform the lake into a stunning and sustainable urban oasis, addressing critical environmental challenges and enhancing the livability of the community.

Shem Creek Shrimp Docks Renovation

Mount Pleasant’s Shem Creek Shrimp Docks and Shrimp Processing Facility are undergoing renovations to ensure safety and maintain viable shrimping operations. This effort is crucial for preserving Mount Pleasant’s rich cultural heritage of shrimping and supporting the local economy.

Accelerated Executive MBA Program

The College of Charleston is introducing an accelerated Executive MBA program designed for working professionals looking to elevate their business careers. This program reflects the city’s commitment to educational advancement and professional development.

Tri-County Biological Science Center

Leaders from Charleston, Berkeley, and Dorchester counties recently broke ground on the Tri-County Biological Science Center. This 21,480-square-foot, state-of-the-art facility aims to reduce DNA processing times by streamlining forensic analysis. As the first regional collaboration on DNA testing in state history, this project marks a significant advancement in local forensic capabilities.

Life Sciences Sector Growth

Charleston has been recognized as the fastest-growing life sciences metro hub in the country among 24 leading metro competitors. From 2018 to 2022, the number of life sciences establishments in Charleston grew by 67%, according to CommercialCafe. This remarkable growth underscores Charleston's burgeoning role in the life sciences industry.

Allegiance Flag Supply Expansion

Allegiance Flag Supply, a producer of American flags, is expanding its Charleston County operations with a $6.3 million investment. This expansion will create 84 new jobs and includes a move into a new 24,000-square-foot building in North Charleston.

New Spa in West Ashley

For those seeking relaxation, Hand & Stone Massage and Facial Spa, a luxury spa franchise, has opened in West Ashley under local ownership. This new addition to Charleston’s wellness offerings promises a premium experience for residents and visitors alike.

Charleston’s economy is not just growing; it’s flourishing with new opportunities and developments that enhance our community's quality of life. Stay tuned for more updates as our city continues to thrive!