Clemson University Drives $6.4 Billion Economic Impact In South Carolina

An independent economic impact study released at Clemson’s Board of Trustees meeting Feb. 6, 2025, detailed the University’s statewide economic impact at $6.4 billion including operations, capital investment, workforce development, athletics events and student and visitor spending. 

Every dollar South Carolina invests in Clemson University generates $35 in economic output, according to the independent report prepared by Econsult Solutions Inc.  

Officials said the new assessment reinforces Clemson’s role as a major driver of economic growth and workforce development and solidifies the institution’s commitment to its mission of teaching, research and service.

The total economic output resulted in 37,100 jobs statewide and generated $114.4 million in annual state tax revenue, contributing to the state’s economy.  

Additional findings show Clemson’s influence is powerful in the Upstate, where it contributes $4.9 billion in economic impact and supports 27,900 jobs.

Beyond South Carolina, Clemson’s total economic impact reaches $10.6 billion nationwide, supporting 54,000 jobs across the U.S. and driving innovation through its top-tier R1 research institution status.  

Research and development activities  

The University has doubled its research activity since 2013, reporting more than $334 million in research and development expenditures for the fiscal year ending June 30, 2024.

Other research and development findings between the fiscal year ending June 30, 2020, through the fiscal year ending June 30, 2023, include:  

* 79 new patent applications   

* 218 invention disclosures  

* 10 startup businesses formed.  

Alumni impact on the state’s economy  

Fifty-eight percent of Clemson alums remain in South Carolina, ensuring, officials said, a strong talent pipeline for the state while strengthening regional industry and workforce.

Additionally, 97 percent of graduates are employed or pursuing further education within six months of graduation and report median 10-year earnings of $72,000.  

According to College Scorecard, the median 10-year earnings of Clemson alumni is $71,513, which is higher than other peer institutions.  

SCRA Announces New Member Companies, Grant Funding

Jaya Biosciences and OrthoTract Innovations were accepted as South Carolina Research Authority Member Companies.

ElectroWire received new grant funding.

All SCRA Member Companies receive coaching and access to SCRA’s Member Benefits and Startup Resources, can apply for grant funding, and have the potential to be considered for investment from SCRA’s investment affiliate, SC Launch Inc.

ElectroWire Corporation received a $50,000 Acceleration Grant. The Lexington-based medical device company is seeking to simplify access to the left atrium of the human heart with its ElectroWire transseptal system.

Jaya Biosciences Inc, a Greenville-based life science startup, is developing central nervous system-directed gene therapies for genetically defined neurodegeneration, including Alzheimer’s, frontotemporal dementia, and Parkinson’s diseases.

Officials said Jaya’s therapies have the potential to restore the normal lysosomal gene function and prevent disease progression.

OrthoTract Innovations LLC, a Greenville-based life science startup, has developed the RamTractor device, a novel surgical retractor that addresses critical unmet needs in limb surgery by enhancing efficiency and patient safety.

Officials said the device increases access to the surgical site, increases stability, and eliminates the need for an assistant.

Grant funding is made possible, in part, by SCRA’s tax credit program, the Industry Partnership Fund, and its contributions that fuel the state’s innovation economy.

Contributors to the IPF receive a dollar-for-dollar state tax credit.

South Carolina 4th Fastest Growing State in 2024

South Carolina was the 4th fastest-growing state in 2024 by percentage of population growth at 1.7 percent with nearly 91,000 new residents moving to the Palmetto State last year, according to the South Carolina Chamber of Commerce, citing data released by the United States Census Bureau.

The only states that grew faster than South Carolina were Florida, Texas, and Utah.

In terms of pure numeric growth, Chamber officials said South Carolina was the 10th fastest-growing state as its total population increased to over 5.47 million people from roughly 5.38 million in 2023.

South Carolina saw the 3rd largest gain (nearly 68,000 individuals) from domestic migration, or individuals who relocate here from other parts of the U.S., trailing only Texas and North Carolina.

Chamber officials said some of South Carolina’s growth can be attributed to the broader national population shift to Southern states as the South is the most populated region of the country at nearly 132.7 million residents.

According to the Census Bureau data, in 2024 “…the South added more people than all other regions combined, making it both the fastest-growing and largest-gaining region in the country,” Chamber officials said.

SCETV President, CEO Adrienne Fairwell Re-Elected to America's Public Television Stations Board of Trustees 

South Carolina ETV and Public Radio President and CEO Adrienne Fairwell has been re-elected to the America’s Public Television Stations (APTS) Board of Trustees and selected as the Professional Vice Chair for 2025. 

APTS members are comprised of public television stations who play a leading role in developing public television’s legislative agenda and regulatory policies.

Officials said the nonprofit membership organization ensures a strong and financially sound public television system and helps member stations provide essential public services in education, public safety and civic leadership to the American people.

A full list of newly elected board leaders and re-elected board members includes:

Dolores Fernandez Alonso, president and CEO of South Florida PBS in Miami, Florida, has been elected Chair.

Adrienne Fairwell, president and CEO of South Carolina Educational Television (SCETV), Columbia, South Carolina, has been elected Professional Vice Chair.

Garrett King, Board President, Friends of OETA, Inc., Oklahoma City, Oklahoma, has been elected Lay Vice Chair.

The newly elected trustees are:

Darren LaShelle, president and CEO of Northern California Public Media, Rohnert Park, California

Mary Nelson, Lay Trustee of Nine PBS, St. Louis, Missouri 

Deborah Smith, Lay Trustee of Alaska Public Media, Anchorage, Alaska 

Sylvia Strobel, president and CEO of Twin Cities PBS, St. Paul, Minnesota.

The re-elected trustees are:

Adrienne Fairwell, president and CEO of South Carolina Educational Television (SCETV), Columbia, South Carolina 

Annette Herrington, Lay Trustee of Arkansas PBS, Conway, Arkansas 

The officers and trustees will begin their terms on Feb. 25, 2025.

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