Download the 2026 Economic Impact Report
Join Now
Join Now

Charleston Unveils 5-year Economic Development Plan Focused on Innovation

The new strategy plans to strengthen the economy, attract top talent, and make Charleston a hub for innovation and growth. Dozens of interviews were completed with industry leaders both within and outside of the Charleston region to create the vision.

Charleston is taking the next step toward an innovative and prosperous future with its newly unveiled five-year economic strategy, “Charleston Inspired: Discover the Possibilities.” Developed by Ernst & Young LLP and commissioned by the Charleston Regional Development Alliance (CRDA), this plan aims to strengthen the region’s economy while fostering innovation and inclusivity.

Charleston has attracted major companies like Boeing , Mercedes-Benz Vans , Volvo Cars , and SHL Medical . This new strategy ensures that these industries remain competitive while also investing in high-impact industries, entrepreneurship, and talent development.

Charleston Inspired lays out three key goals:

  1. Boost Charleston’s reputation as an innovation hub.
  2. Attract and retain top talent.
  3. Close funding and research gaps to drive new economic opportunities.

Research shows that an increased focus on innovation could push Charleston’s projected economic growth from 3.5% to 4.2% by 2040, adding $13 billion in regional economic output and $10 billion in earnings.
“This ambitious strategy requires strong collaboration across the region,” said CRDA President and CEO David Ginn in a press release. “Together, we can shape a more innovative and thriving Charleston.”

Backed by partners like MUSC , the South Carolina Research Authority , Fifth Third Bank , and Advanced Technology International , the strategy was officially shared at this year’s CRDA Leadership Luncheon.

Written by Erika Ross

Erika is a City Editor based in Charleston, SC. She is a graduate of the journalism schools at the University of South Carolina and Syracuse University and has been in communications for the last five years. When not working, you can find her traveling or trying out a new restaurant.

Photo by @jonathan.mcrae

Join now to enjoy expanded member benefits!

Enjoy exclusive member content, special events, savings, networking and more

Join Today!

Paige Durham

SCbio is pleased to welcome Paige Durham to the team as communications coordinator to creatively and effectively communicate the value of the life science association’s programs and initiatives.

Durham will be responsible for developing and distributing high-quality content across multiple communications channels to build, advance and grow South Carolina’s life sciences industry, a key business sector for economic prosperity for the Palmetto State.

“SCbio is excited to welcome Paige to our team as our new communications coordinator. Paige brings fresh ideas and a strong background in communications that will be invaluable as we continue to strengthen our engagement with our audience,” said SCbio President and CEO James Chappell. “We are confident that her skills and experience will be crucial in advancing our communication strategies and supporting our mission.”

Before joining SCbio, Durham was the Membership and Communications Manager at the South Carolina Pharmacy Association (SCPhA), where she used her photography, design and writing skills to create content tailored to pharmacy professionals. Durham’s effective communication skills guaranteed the delivery of brand-specific material that captured the eye of her audience.

During her time at SCPhA, Durham created and edited the Palmetto Pharmacist Journal, using her creative vision to showcase members, educational institutions and industry news. Her communications efforts successfully gained new followers for the organization over the course of a year, increasing brand visibility and promoting the pharmacy profession.

Durham holds a Bachelor of Science in hospitality and tourism management and a Bachelor of Science in business administration from the College of Charleston.

Tamia Sumpter

Tamia is a driven senior undergraduate Bioengineering student currently enrolled at Clemson University. With a strong foundation in her field, she has honed her skills through hands-on experience in research and development at Eli Lilly & Company. During her time in the ADME department, Tamia contributed significantly by working on siRNAs and their applications in finding In Vitro-In Vivo Correlation (IVIVC). Looking ahead, Tamia has set her sights on a promising career in law. She aspires to specialize in Intellectual Property Law, with a particular focus on serving as in-house counsel for leading medical device or pharmaceutical companies. Her enthusiasm for this role is palpable as she prepares to embark on her legal journey! She is also a proud member of the Omicron Phi chapter of Delta Sigma Theta Sorority, Inc., PEER Mentor for Clemson PEER/WiSE, and currently serves as the President of Clemson Bioengineering Organization (CBO). With her unique blend of scientific knowledge and legal interests, Tamia is poised to make a meaningful impact in the healthcare and life sciences industries.