March 5, 2025

South Carolina Construction Sector Experiences Major Growth in 2024

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News Summary

In 2024, South Carolina’s construction industry has seen a significant 28 percent increase in total construction starts, primarily driven by a booming manufacturing sector that has nearly tripled its value. Despite mixed performances in other sectors like healthcare and multifamily housing, education construction surged by 88 percent. Major projects in Charleston and Columbia signal continued development in the state, showcasing a strong economic recovery. Infrastructure improvements also support this growth, indicating a robust future for construction in South Carolina.

South Carolina Construction Sector Soars in 2024, Thanks to Manufacturing Surge

The construction landscape in South Carolina is undergoing a remarkable transformation, with total construction starts witnessing a staggering 28 percent growth in 2024 after experiencing a slowdown in the previous year. This impressive rebound highlights the state’s dynamic economic environment and the critical role that the manufacturing sector plays in driving progress.

According to data released by the project management partner of Colliers International in South Carolina, LCK, the manufacturing sector has seen a significant upswing, with project starts ballooning from $1.3 billion in 2023 to a jaw-dropping $3.8 billion in 2024. This leap indicates that the manufacturing industry is not just growing; it’s nearly tripled in total value from $249 million in 2022. Clearly, South Carolina is laying the groundwork for continued expansion in this vital sector.

Education Sector Shines While Other Areas Show Mixed Performance

The education sector is another area of notable growth, experiencing an astonishing 88 percent increase in construction starts when compared to previous years. This surge underlines the ongoing commitment to evolving educational infrastructure to meet rising demand.

Despite these promising developments, the health care sector and multi-family construction starts have seen slight decreases. As the migration boom stemming from the Covid-era appears to moderate, these sectors are feeling the impact. Nevertheless, the health care industry managed to generate an additional $144 million in construction value in 2024, although forecasts suggest potential slowdowns looming in 2025.

State Workforce and Unemployment Rate: A Mixed Bag

South Carolina’s construction workforce has seen its most substantial annual growth rate since 2019, boasting a robust 6 percent increase. However, the state’s unemployment rate did rise to 3.85 percent , a shift from 3 percent in 2023, though it still remains below the national average of 4.125 percent.

Looking ahead, LCK officials project that manufacturing will remain a leading driver of construction activity into 2025. Major construction projects are lined up in key cities such as Charleston, Columbia, Greenville, and Spartanburg, promising an exciting year for the state’s construction sector.

Major Developments and Future Prospects

The manufacturing sector in Charleston saw a phenomenal growth leap to $1.9 billion in 2024, up significantly from just over $28.6 million in the previous year. This surge showcases Charleston’s emerging role as a manufacturing powerhouse, enhancing its economic landscape.

Columbia also witnessed remarkable growth, with construction starts surging over 200 percent, jumping from $813.5 million in 2023 to $2.46 billion in 2024. Notable projects include the groundbreaking of the first phase of Scout Motors’ $1 billion manufacturing facility in Blythewood, which represents a significant investment in future jobs and innovation.

Meanwhile, the Greenville market reported over $1.1 billion in construction starts, up by 83 percent from the previous year. The multi-family sector in Greenville soared by an impressive 139 percent to reach $253 million, while the education, health care, and government sectors saw declines ranging from 34 to 83 percent.

Conversely, Spartanburg faced a significant setback, with an overall decline of $1 billion in construction starts when compared to 2023. This drop highlights the fluctuating nature of the construction market and the need for strategic planning in future developments.

Infrastructure Improvements to Support Growth

On the infrastructure front, the completion of the Florence County Alligator Road widening project stands out as a significant enhancement to local connectivity and efficiency, catering to a growing population in the region. This development underscores the importance of sustaining infrastructure as the population expands.

In addition, Landmark Construction Company is involved in the ambitious Project Connect, focusing on electric vehicle manufacturing in Blythewood. Upon completion, this project is expected to generate an impressive 4,000 jobs, further illustrating the state’s commitment to economic growth through innovative ventures.

In summary, South Carolina’s construction sector is not just revitalizing; it is thriving, spearheaded by a manufacturing boom that shows no signs of slowing down. With significant investments in education and infrastructure, the state is on track to remain a formidable player in the construction industry.