Continued Growth & Investment
South Carolina’s economy has grown significantly in the last two decades and projections forecast even stronger economic performance in the future, thanks in part to the state’s logistics industry cluster.
In 2016, 442 million tons of freight moved across South Carolina using the state’s railways, highways, airports, and waterways. That tonnage is expected to increase by 61 percent by 2040. Rail transport is expected to grow at the fastest rate of 68 percent from just above 63 million tons to approximately 106 million tons in 2040.
As the logistics industry grows, state and federal investments have been pledged to improve South Carolina’s infrastructure system with a total 10-year capital commitment to logistics in South Carolina exceeding $2 billion. In addition to funding for these projects, the South Carolina General Assembly passed a bill in 2017 that increases state funding for roads by $600 million per year.
Projects that were made possible by these investments include:
- South Carolina’s first inland port in Greer;
- Deepening of the Charleston Harbor;
- Creation of the Jasper Ocean Terminal; and
- Establishment of a second inland port in Dillon to connect the I-95 corridor to the Port of Charleston.
South Carolina Specific Challenges
Like the rest of the nation, South Carolina faces its own distinct challenges related to physical infrastructure as highlighted in recent reports published by the South Carolina Department of Transportation.
South Carolina’s aging infrastructure, changing weather patterns and storms increasing in intensity in recent years also present challenges for the growing demand on the logistics industry.
Recent and ongoing state and federal investments in transportation and distribution infrastructure will strengthen South Carolina’s competitiveness as a logistics hub.
2040 Freight Projections
What does the growth in trucking, rail, water and air look like for the next twenty years? This progress is measured through the scope of the number of tons moved by each category as well as the value of each freight method over time.