COLUMBIA, S.C.--()--SCRA today announced its Fiscal Year 2012 economic impact numbers. In a study led by the University of South Carolina's Moore School of Business, SCRA’s annual output in South Carolina was $1.24 billion, with a 30 year cumulative total of over $15.3 billion.
“Once again, we are delighted to work with Dr. Woodward and USC's Moore School to measure our economic output in South Carolina”
USC Division of Research Director Dr. Douglas Woodward led the study, which incorporated all SCRA operations from its three sectors: SCRA Technology Ventures, SCRA Applied R&D and SCRA R&D Facilities. While showing a slight decrease versus the 2011 output of $1.5 billion due to a harsh economy and uncertainty in the federal government, the study showed that in 2012, SCRA extended its significant role driving South Carolina's technology-based economy.
"SCRA continues to have a major impact on South Carolina's economy," said Dr. Woodward. "The numbers in the study indicate that SCRA supports over 15,000 technology jobs in the state with an average wage between $55,000 and $75,000. These jobs are not only high-paying, but highly technical and dramatically improve South Carolina's economy while making our state more competitive."
SCRA is an applied research and commercialization services company with operations in Anderson, Columbia and Charleston, South Carolina. SCRA also operates offices at Clemson University ICAR and in Washington, DC. Since 2005, SCRA annual revenues have grown from $74 million to over $200 million, and in the same timeframe, SCRA’s cumulative economic impact on South Carolina has grown from $6.9 billion to over $15.3 billion. SCRA operates its flagship SC Launch program through its Technology Ventures Sector, investing in and supporting over 280 high-tech startup enterprises in the state, increasing jobs and growing the Knowledge Economy. SCRA’s Innovation Centers and Research Parks house 61 technology-based enterprises, which SCRA also supports as they commercialize innovations and bring them to the marketplace. SCRA Applied R&D Sector competitively wins and delivers R&D programs for federal and corporate clients, working closely with the mission-oriented agencies such as the Department of Defense, and over 300 corporations from around the world.
"Once again, we are delighted to work with Dr. Woodward and USC's Moore School to measure our economic output in South Carolina," said SCRA CEO Bill Mahoney. "Our mission is to develop the Knowledge Economy and create jobs in South Carolina by becoming an international leader in applied research and technology. The Moore School Study helps SCRA faithfully fulfill our mission by measuring our support for technology companies, and our creation of Knowledge Economy jobs in South Carolina. While the 2012 Study demonstrates that, like any company, we are not immune to the changing economic landscape, we are pleased to once again be quantified as a leading force in advancing South Carolina's Knowledge Economy."
SCRA is an applied research corporation with over 30 years of experience delivering technology solutions with high returns on investment to federal and corporate clients. To fulfill our mission, SCRA has three sectors: Our Technology Ventures sector helps early-stage companies to commercialize innovations and create jobs, our Applied R&D sector manages over 100 national and international programs worth over $2 billion in contract value and our R&D Facilities sector builds and manages research facilities that include wet labs, secure rooms for sensitive work and advanced high-tech manufacturing shops. Multiple economic impact studies show SCRA’s cumulative output on South Carolina’s economy to be over $15.3 billion.