SC technical colleges generate $6.4B annual impact, study shows

The South Carolina Technical College System generates approximately $6.4 billion in annual economic impact statewide, according to a new study released Jan. 13.

The study, prepared by the University of South Carolina’s Darla Moore School of Business, found that the state’s 16 technical colleges deliver a strong return on public investment. As a whole, the state technical college system supports more than 38,000 jobs each year and generates $2 billion in labor income.

Technical college graduates are also more likely to remain in South Carolina to join the local workforce. According to the study, more than 80% of technical college students work in South Carolina one year after graduation. Approximately two-thirds of graduates remain in-state a decade later.

“This study confirms what employers across South Carolina see every day,” said Tim Hardee, president of the South Carolina Technical College System. “Our colleges are training people for real jobs in real communities, and those graduates are staying here, building careers and strengthening our economy.”

According to the study, Greenville Technical College generates $932.7 million in total economic output, which reflects all final goods and services attributable to the college. President Larry Miller said it is rewarding that the college has been able to convert its approximately $120 million operating budget into nearly a billion dollars of economic activity.

“We’re competitive. I want to cross that billion threshold and hope we can do that very quickly,” Miller said. “In our strategic plan, we’re laying out a pathway over the next six years to get to $2 billion and beyond.”

The study found that graduates from Greenville Tech earn approximately 52.4% more per year than people with only a high school diploma. Greenville Tech graduates’ estimated median wage is $56,013, compared to $36,753 for high school graduates.

Greenville Tech’s total economic output also incorporates the college’s capital investment in the community. For example, the college is building an approximately $30 million Center for Welding and Automation Excellence on its Brashier Campus in Simpsonville. Miller said the project has created multiple construction jobs, which has a ripple effect on the local economy.

Another example cited in the study is Spartanburg Community College, which generates $298.3 million in economic output each year.

Like Greenville Tech, SCC works closely with Upstate employers to develop programs to fill jobs in high demand like mechatronics, CNC machining and process-control technology, among others. Such programs throughout the state’s technical and community college system have helped connect graduates and certificate holders with good-paying jobs.

The study also highlighted the impact of SCC’s Spark Center, the college’s enterprise campus located in Duncan. The center offers startups and existing companies flexible, configurable space to meet a company’s needs, whether it is ramping up, expanding or relocating.

According to the study, the Spark Center has helped create 100,000 jobs and generates about $50 billion in economic activity since its launch in 2006. Most recently, SCC received $1.15 million in combined public and private funding to construct a state-of-the-art clean room at the center. The investment is expected to draw new life sciences ventures and provide students with invaluable real-world experience in one of the state’s fastest-growing economic sectors.