Integer Technologies, a defense tech company focused on delivering next-gen digital engineering solutions to government and commercial clients, announced the release of its South Carolina Economic Impact Report, revealing its $63 million impact on the Palmetto State’s economy in 2024.
Officials said that number is expected to grow to $112 million annually and $751 million cumulatively by 2030.
The officials added the study shines a spotlight on Integer’s collaborative business model that identifies technology gaps within the Department of Defense and brings together university and industry partners to develop AI-driven digital engineering solutions that offer a decision advantage for both human operators and autonomous systems.
The officials said Integer boosts South Carolina’s economy by creating high-tech jobs that attract and retain S.C. graduates with advanced science, technology, engineering, and math (STEM) degrees in the vital sectors of energy, advanced manufacturing, aerospace, and defense.
Integer was recognized as South Carolina’s No. 1 Fastest Growing Company in 2024.
Integrated Media Publishing, publisher of Greenville Business Magazine, Columbia Business Monthly, Charleston Business Magazine, B2B: The Grand Strand, and B2B: Pee Dee Business, partners with The Capital Corporation to honor those South Carolina companies.
The annual impact of $63 million reflects all goods and services produced in South Carolina attributed both directly and indirectly to Integer’s operations.
This includes direct impact, such as revenue, as well as economic activity generated through the multiplier effect, including company purchases and employee wages spent in the local economy.
“We’re very proud of the economic impact we’ve made in South Carolina in just four years,” said Duke Hartman, CEO of Integer. “We partner with leading research universities across the country on applied research for national security, but we chose downtown Columbia as our headquarters to be near the University of South Carolina due to the caliber of the researchers at the USC Molinaroli College of Engineering and Computing, where we share lab space and work side-by-side with their faculty and students.”
Hartman added, “Access to STEM talent is crucial for our business, and approximately half of the engineers at our headquarters are USC grads. We’re pleased to have kicked off a second South Carolina collaboration with nearby Benedict College. We build long-term partnerships and invest in the people and communities where we’re located, and the positive economic impact outlined in this report is a great illustration of that.”
Said Stephen Cutler, Ph.D., vice president of the University of South Carolina Office of Economic Engagement and Dean of the College of Pharmacy: “We are leading the charge in training South Carolina’s STEM workforce in critical areas such as AI, robotics, advanced manufacturing, and energy. This partnership exemplifies how our university is driving the economic growth of South Carolina.”
Key report findings include:
* Integer’s annual economic impact on South Carolina in 2024 is $63 million and 312 jobs.
* Integer’s employment multiplier of 2.3 is above the South Carolina average multiplier of 1.7. This means for every 10 jobs created by Integer, another 13 jobs are created elsewhere in the state for a total of 23 jobs.
* The average job at Integer pays a 161 percent wage premium over the average job in South Carolina.
* By 2030, Integer is projected to have an annual impact of $112 million and create 842 jobs, resulting in a cumulative impact of $751 million on South Carolina’s economy.
The report was authored by Joseph C. Von Nessen, Ph.D., a research economist in the Division of Research at USC’s Darla Moore School of Business.