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A new report shows that construction projects in downtown Spartanburg under way or completed since 2017 will have an economic impact of more than $1.77 billion countywide.
The data-driven update, assembled by Clemson University researcher Bob Brookover, examines the impacts of the $1.24 billion in new development that have been made or announced for Spartanburg’s downtown in the past eight years.
Along with the economic outputs, downtown growth supports more combined jobs – 13,706 in total – than are found at Spartanburg County’s largest employer: BMW Manufacturing Co.
“All of this growth leads to new jobs, the hiring of more teachers, the construction of new school buildings, improvements to our roads network, and more critical support to first-responders,” said Mayor Jerome Rice.
Rice added, “We are incredibly fortunate to have a private sector that has made a historic commitment to improving our citizens’ lives. The partnership between the city, county, state of SC, and the private sector has positioned the people of Spartanburg for long term success. It’s all about the people.”
Projects included in the update include:
* Fifth Third Park, and the stadium’s adjacent parking deck
* Grain District Office Building
* Hotel on the former Spartanburg Herald-Journal site
* Office space on the former Spartanburg Herald-Journal site
* Multi-family development on the former City Hall site
* Hotel, office, and multi-family parking deck
* Multi-family development by Barrett & Stokely
* Multi-family development on Magnolia Street
* Planetarium Learning Center
* 111 Main mixed-use development
* West Main streetscaping phases 1 and 2
* The Charles
* The Fitzgerald.
Officials said data also showed hotel-related metrics across Spartanburg outperformed peer communities across the region, indicating Spartanburg is able to support new hotel product.
Spartanburg’s hotel occupancy rate was 71.1 percent, up 9.3 percent year-over-year, and Spartanburg’s RevPAR – revenue per available room – was $77, up 18.5 percent year-over-year, outpacing communities like Birmingham, Ala., Chattanooga, Tn., and Myrtle Beach.
“The data couldn’t be any clearer. The market needs, and can support, more hotel product. As new product comes online, the benefit to local businesses and the creation of new jobs will be immense as the economic study indicates,” said OneSpartanburgs, Inc. Chief Tourism Development Officer Billy Dunlap.
“There are two kinds of communities – one that is creating jobs and one that is losing them. In tandem with our public and private partners, we will tirelessly work to ensure current and new residents have every opportunity to succeed. 13,706 jobs represent strengthened families, thriving local businesses, and a promising future,” said Allen Smith, OneSpartanburg, Inc. president and CEO.
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