South Carolina Economic Snapshot

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Payroll employment in South Carolina increased by 4,500 jobs (0.2 percent) in January, according to the Federal Reserve Bank of Richmond.

"Job growth in South Carolina remained strong in January. Job gains in education and health services have slowed recently, after contributing significantly to employment growth in 2024,” said Bethany Greene, a regional economist at the Charlotte branch of the Federal Reserve Bank of Richmond.

Payroll employment in South Carolina increased in January, adding 4,500 jobs on net (0.2 percent).

Those job gains were mainly concentrated in government (2,900 jobs) and construction (1,800 jobs).

However, job gains were partially offset by employment declines in financial activities (2,100 jobs) and professional and business services (900 jobs).

On a yearly basis, payroll employment grew by 56,700 jobs (2.4 percent). Annual job growth was led by education and health services (13,700 jobs), government (11,300 jobs) and trade, transportation and utilities (8,300 jobs).

The unemployment rate in South Carolina is 4.3 percent, declining slightly by 0.1 percentage points in January, but up 0.9 percentage points from last year.

Attorney General Alan Wilson Leads 15-State Coalition In Support of DOJ’s Joint Task Force to Combat Antisemitism

South Carolina Attorney General Alan Wilson is leading a coalition of 15 state attorneys general in a show of support for the U.S. Department of Justice’s Joint Task Force to Combat Antisemitism.

In a letter addressed to Leo Terrell, head of the task force, the coalition praised the DOJ’s efforts to implement President Trump’s vision for confronting antisemitism and ensuring  proper enforcement of immigration laws.  

“For too long, universities have enabled an environment where terrorist sympathizers spread hate and disrupt education,” Wilson said. “But with President Trump’s leadership, we are taking action to hold both individuals and institutions accountable.” 

The coalition, which includes attorneys general from Georgia, West Virginia, Mississippi, Iowa, North Dakota, Florida, Oklahoma, Montana, Louisiana, Indiana, Missouri, Utah, South Dakota, and Kansas, expressed deep concerns about the rise of antisemitic activity, particularly on university campuses.

The attorneys general called for stronger enforcement against foreign nationals who use their visa privileges to engage in anti-American, pro-terrorist demonstrations.  

Officials said the letter highlights the importance of enforcing immigration laws and holding universities accountable for tolerating antisemitic rhetoric and pro-terrorist activity.

 “We stand united in our commitment to ensuring that no foreign national abuses their status in this country to promote violence or extremism,” Wilson continued. “Our coalition fully supports the Joint Task Force, and we will assist in any way necessary to uphold our laws and protect Jewish students.”  

 Read the letter here.

GE Aerospace Secures $5 Billion U.S. Air Force Contract for F110 Engines

GE Aerospace (NYSE: GE) announced an Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Air Force valued up to $5 billion.

Officials said the contract supports Foreign Military Sales (FMS) for F110-GE-129 engines, which power F-15 and F-16 aircraft operated by allied nations worldwide.

In February, Lockheed Martin (NYSE: LMT) announced the delivery of the first F-16 Block 70 jet to Bulgaria, marking a major step forward in the country's efforts to modernize its air force. 

The delivery was celebrated in a ceremony in Greenville, South Carolina, attended by Bulgaria's Minister of Defense, Atanas Zapryanov, alongside American and Bulgarian leaders.

F-16s are built by Lockheed Martin in Greenville. Bulgaria has ordered 16 total aircraft.  

The GE Aerospace F110 engine has more than 11 million flight hours under its wing, the most thrust in its class, and recently celebrated a milestone of 40 years of continuous production and improvement.

Through this latest agreement, GE Aerospace reaffirms its commitment to supporting U.S. Air Force partnerships and enabling operational readiness for F-15 and F-16 platforms globally. 

“We are honored to reach this agreement with the U.S. Air Force, ensuring the F110-GE-129 remains the engine of choice for the world’s F-15 and F-16 fleets,” said Amy Gowder, president and CEO, Defense & Systems at GE Aerospace.

Gowder added, “This contract underscores the enduring trust in the F110’s performance, reliability, and value for our customers and their critical missions.”

As part of this latest contract, GE Aerospace will collaborate closely with the U.S. Air Force to deliver engines, spares, and associated services that meet the evolving needs of allied operators.

USC’s Trustees Received Budget Update; Approve Degree Program in Aiken, IT Upgrades for Columbia Campus

Buoyed by strong enrollment growth, improved retention of existing students, and continued state investment, the University of South Carolina is once again expected to have a positive margin in its operational budget.

Officials said that has allowed USC to keep attendance affordable — with no tuition increases for in-state students for more than five years — while investing in teaching, research and new campus modernization initiatives.

“The careful management of our financial resources is allowing us to improve the experience of our students and elevate the quality of our teaching and research,” said USC President Michael Amiridis. “At a time when other institutions face budget challenges, we have the opportunity to hire 100 new tenure track faculty members, to execute our ambitious SC Next capital plan and to improve our IT infrastructure.”

“The university has consistently adopted a thoughtful budgeting approach that emphasizes strategic investment in core priorities,” said Board of Trustees Chairman Thad Westbrook. “We applaud President Amiridis and his financial team for their work. We’re also grateful for the support of our state partners and generous donors. Most importantly, we thank the tens of thousands of families who every year entrust us to be good stewards of their tuition dollars.”

To keep pace with inflationary costs in housing operations and food, the board on Monday approved a $233 increase in housing (average) and a $96 increase in meal plans for the fall 2025 semester.

Housing and food services are auxiliary services that don’t receive state funding for operations.

USC Aiken to offer degree in electrical engineering

The board approved a new Bachelor of Science degree in Electrical Engineering at USC Aiken focused on educating students to design, build, test and maintain electrical and electronic systems.

The program is developed in consultation with local industries within the five-county Central Savannah River area. Students will learn essential skills needed to excel in fields ranging from advanced manufacturing and robotics to the nuclear industry.

Demand for electrical engineers is expected to grow rapidly within the next decade, according to the Bureau of Labor Statistics.

Projected enrollment for the new Electrical Engineering major is 15 students in the first year, increasing to 39 by its fifth year. Sixteen new courses have been developed for this program, supported by three initial tenure-track faculty with additional hires expected soon.

CarolinaCard replacement; IT software approved for Columbia campus

USC students next spring will have the option to replace their physical CarolinaCard with a new mobile app that will allow them to more securely and conveniently access dormitories, parking garages and recreation facilities with their personal smartphones.

The app, approved by the board on Monday, also will allow students to purchase textbooks and dining at participating restaurants on and off campus.

The laminated CarolinaCard has been used for years as the primary way for students, faculty and staff to access spaces and services around campus.

Officials said the new app embraces the adoption of new smartphone technology to enhance convenience and security. The new app, which will start as a pilot next year, will be available to all students, faculty and staff in fall 2026.

The board also approved a three-year, $1.2 million contract for software that supports more efficient work management for the Division of Information Technology and other units on campus.

The system provides workflow automation, ticketing, tracking, documentation and monitoring of customer support for the IT division and other university administrative departments such as the bursar, registrar, financial aid, purchasing, finance, and human resources. 

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