SC Logistics Director, Suzanne Dickerson, weighs-in on 2018 IHS TRANSEARCH data that indicates that by 2040, there will be a significant increase in freight.
From an economic development perspective, South Carolina has been extremely successful in recruiting world-class companies to do business here. You only have to look at the Palmetto State’s record in attracting Foreign Direct Investment (FDI) to understand the influence this has on the state’s logistics landscape.
Many of our numerous manufacturers (“shippers”) have significantly increased production volumes and South Carolina’s exports have risen year on year since 2011. So it is no surprise that all of these upwards trends and their associated impacts are reflected in recently updated freight projections for moving goods and products into, out of and across the State of South Carolina.
When considering the value of goods – these new projections show a 93% increase in freight value. In terms of tonnage, the same projections indicate that 61% more freight will be moving in 2040 than was moved in 2016.
Fortunately, significant investments – more than $2.2 Billion – are currently being made in freight-related transportation infrastructure by the State and the South Carolina Ports Authority. Those investments will play a critical role in keeping South Carolina in a competitive leadership position. The rapidly changing, and exciting, technology landscape will also play an important role in optimizing freight movement going forward.
To view the freight projections, please click here.