Boeing Commits To Expanding Charleston County Operations

(787 Dreamliner. Boeing Photo) 

Boeing (NYSE:BA) announced Dec. 12, 2024, plans to expand its operations in Charleston County. 

The company plans to invest $1 billion in infrastructure upgrades at its existing site and create 500 jobs over the next five years, according to Gov. Henry McMaster's office.

For more than a decade, Boeing South Carolina (BSC) has been the home of the full 787 Dreamliner production cycle and fabricates, assembles, and delivers the 787-8, 787-9 and 787-10 to customers globally. 

The company established operations in South Carolina in 2009 and employs more than 7,800 people across its Airport and North Campuses in North Charleston, and its West Campus in Orangeburg. 

Boeing acquired the operations in Orangeburg, located at 174 Millennium Drive, earlier this year, though those facilities won't be affected by the expansion plans.

Officials said Boeing will expand both of its North Charleston campuses, located at 5400 International Blvd. and 9775 Patriot Blvd., to support increased 787 Dreamliner production targets and potential future rate increases driven by market demand.

The 787 Dreamliner program plans to increase to a rate of 10 airplanes per month by 2026.

Operations are expected to be online in early 2027. 

“Since the creation of Boeing South Carolina in 2009, we’ve marked many important milestones – including consolidating 787 Dreamliner production to South Carolina. I’m thrilled for this next phase of growth, which is made possible by our incredible teammates and the confidence our customers have in our airplanes," Scott Stocker, vice president and general manager of the 787 program and BSC site leader.

Stocker added, "This decision reflects Boeing’s commitment to the workforce, the 787 program and the community. We are building a legacy at BSC, for ourselves and for future generations in the Palmetto State.”   

“Boeing’s decision to expand in Charleston County further solidifies South Carolina’s position as a leader in the aerospace industry.," McMaster said.

He added, "This significant investment and the 500 new jobs it will bring to the Lowcountry reflect Boeing’s confidence in our workforce and highlights the strength of our pro-business environment." 

Senn Brothers Produce Grows SC Footprint With New Jasper County Operation

Senn Brothers Produce, a produce distributor, announced it is growing its South Carolina footprint with a new operation in Jasper County.

The company’s $2.9 million investment will create 19 jobs, according to Gov. Henry McMaster’s office.

Founded in 1944 and based in West Columbia, Senn Brothers Produce is a family-owned distributor of locally sourced produce.

The company delivers fresh fruits and vegetables sourced from local farmers and producers.

Officials said Senn Brothers Produce’s new facility, located in the Cypress Ridge Business Park in Ridgeland, will have cold storage and office space to allow for expanded service to the Hilton Head and Savannah markets.

Operations are expected to be online in the third quarter of 2026.

The state’s Coordinating Council for Economic Development awarded a $75,000 Set-Aside grant to Jasper County to assist with the costs of site preparation and building construction.

Gov. McMaster Announces Appointment to S.C. Department of Transportation Commission; I-77 Study

Gov. Henry McMaster on Dec. 12, 2024, announced the appointment of former York County Council Chairman James Britt Blackwell as his at-large nominee for the South Carolina Department of Transportation Commission.

The governor also unveiled a $2 million executive budget proposal to fund a feasibility study for the design and construction of a reimagined Interstate 77 Exit 90. 

“As more businesses and people continue to move to South Carolina, strong leadership and a forward-looking vision are essential to meet the increasing demands on our transportation infrastructure. Dr. Blackwell’s extensive public service and transportation-related experience in one of our state’s most rapidly expanding regions makes him an ideal candidate for the commission," McMaster said in a statement.

He added, "In addition, by investing in the I-77 Exit 90 feasibility study, we take another critical step to ensure our infrastructure can efficiently serve York County’s businesses and booming population."

Blackwell, a Rock Hill native, has served on the Rock Hill School Board, the State Board of Education, and the York County Council, where he served as chairman for eight years.

During his tenure as County Council chair, Blackwell founded the I-77 Alliance, which has fostered economic development across Chester, Richland, Fairfield, and Lancaster counties. 

In 2023, he chaired a six-member citizen commission overseeing the Pennies for Progress campaign in York County, where he evaluated and selected high-impact transportation project requests from municipalities and the public. 

"It is a great honor to be appointed to the South Carolina Department of Transportation Commission by Governor McMaster. I look forward to the vetting process by the honorable Senate and House of Representatives," Blackwell said.

He added, "Roads are the arteries of life for a county or a state, and I am dedicated to using my experience and knowledge to improve the quality of life that the governor and the citizens of South Carolina deserve."

Constructed between 1971 and 1975, I-77 Exit 90 is located on the South Carolina and North Carolina border.

Approximately 170,000 vehicles travel through this portion of I-77 daily, 40,000 of which use the Exit 90 interchange.

This number is expected to increase in the coming years.

Since the exit's initial construction, the surrounding area has transformed from a rural landscape into a commercial hub, with companies and manufacturers, including Schaeffler Group USA, Britax, Ross Stores Southeast Distribution Center, LPL Financial, Domtar Paper, and Carowinds, depending on the exit. 

McMaster's proposed $2 million feasibility study, to be conducted by the S.C. Department of Transportation, will assess the design and construction of a reimagined Exit 90 to accommodate increased traffic demands and ensure continued economic development in the region. 

Said S.C. Department of Transportation Secretary Justin Powell: "Due to the explosion of traffic that we have seen in York County and the anticipated growth in South Carolina, the I-77 Exit 90 feasibility study is timely. This is the first step of many as we continue improving our transportation network in the years to come."

Blackwell’s appointment is subject to confirmation by the South Carolina House of Representatives and Senate.

Greenville-Anderson, SC, Included In 10 Top Housing Hot Spots for 2025

The National Association of Realtors announced 10 top hot spots for the 2025 housing market based on economic, demographic and housing factors predicted to significantly impact local markets as detailed in NAR’s newest report, Housing Hot Spots for 2025: Top Markets Amid Stabilizing Rates.

NAR Chief Economist and Senior Vice President of Research Lawrence Yun revealed 10 top housing hot spots, provided a 2025 real estate and economic outlook and reviewed the 2024 housing market during NAR’s sixth annual Real Estate Forecast Summit: The Year Ahead.

“Important factors common among the top performing markets in 2025 include available inventory at affordable price points, a better chance of unlocking low mortgage rates, higher income growth for young adults and net migration into specific metro areas,” Yun said.

The 10 Top Housing Hot Spots for 2025

In alphabetical order, the following 10 markets have been identified as the top performers for 2025 due to their strengths across several indicators.

NAR officials said all areas offer a favorable financing environment – either with lower proportions of locked-in homeowners or lower mortgage rates.

In addition, the officials said most of these markets outperform the national average in at least six of NAR’s 10 criteria (details in methodology below).

* Boston-Cambridge-Newton, Massachusetts-New Hampshire

* Charlotte-Concord-Gastonia, North Carolina-South Carolina

* Grand Rapids-Kentwood, Michigan

* Greenville-Anderson, South Carolina

* Hartford-East-Hartford-Middletown, Connecticut

* Indianapolis-Carmel-Anderson, Indiana

* Kansas City, Missouri-Kansas

* Knoxville, Tennessee

* Phoenix-Mesa-Chandler, Arizona

* San Antonio-New Braunfels, Texas.

NAR expects the Federal Reserve to maintain a gradual approach to easing monetary policy in 2025.

While concerns about federal deficits and rising public debt may cap the extent of those rate cuts, borrowing costs are anticipated to stabilize overall, offering some relief to prospective buyers. NAR forecasts that mortgage rates will stabilize near 6 percent in 2025, likely establishing a new normal.

At this rate, more buyers are expected to come back to the market, boosting activity, and the association projects 4.5 million existing-home sales in 2025.

The association also predicts that home prices will continue to increase in 2025, but at a slower pace compared to previous years – with increases likely to be around 2 percent – reaching a $410,700 median existing-home price.

While the national housing shortage remains, inventory levels are gradually improving and poised to increase further in 2025, NAR officials said.

This uptick is anticipated to result from a combination of new construction projects and homeowners deciding to list their properties, encouraged by stabilizing mortgage rates and improving market conditions, the officials said.

NAR expects this to lead to increased construction, with housing starts reaching 1.45 million units in the next couple of years, just shy of the historical average annual level of 1.5 million units.

“Home buyers will have more success next year,” said Yun. “The worst of the affordability challenges are over as more inventory, stable mortgage rates and continued job and income growth pave the way for more Americans to achieve homeownership.”

Methodology for Housing Hot Spots for 2025

NAR identified the 2025 housing hot spots by analyzing how each area performs relative to the national level across the following 10 key economic, demographic and housing factors: 1) Share of locked-in homeowners; 2) Average mortgage rate; 3) Job growth; 4) Share of millennial renters who can afford to buy a home; 5) Net migration to population ratio; 6) Share of households reaching homebuying age in the next five years; 7) Share of out-of-state movers purchasing a home; 8) Share of homeowners surpassing the average length of tenure; 9) Share of starter-owner occupied units and; 10) Home price appreciation.

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