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Myrtle Beach Sees Economic Growth and Job Opportunities

Myrtle Beach thriving with new construction and economic activity.

News Summary

Myrtle Beach is experiencing significant economic growth, with rising wages and a decrease in unemployment rates. The Myrtle Beach Regional Economic Development Corporation reports that average wages have soared from $14.50 in 2014 to $25.52 today. The number of industries has doubled, and major projects like an Amazon facility and a new craft brewery are expected to create new jobs, enhancing the job market and overall economic landscape in Horry County.

Myrtle Beach Thrives with Exciting Economic Growth

Myrtle Beach is buzzing with good news as its economy shows impressive signs of growth! The Myrtle Beach Regional Economic Development Corporation (MBREDC) recently held its annual meeting, and the results are fantastic for Horry County, South Carolina. People in the community are starting to feel the positive changes, and it’s time to dive into the details!

Rising Wages and Dropping Unemployment

Just to give you an idea of how things have shifted, back in 2014, the average wage in Horry County was only $14.50 per hour. Fast forward to now, and that figure has jumped to an incredible $25.52 per hour. Yes, you read that right! It’s a clear indicator that more people are earning better paychecks these days.

The unemployment situation isn’t looking too shabby either. The rate dropped from 7.2% in 2014 to a much healthier 5% today, and that’s excluding those seasonal jobs that often fluctuate during the tourism peak. It’s a win-win for local job seekers!

Growth Across Industries

Horry County isn’t just seeing growth in income and jobs; the number of industries has nearly doubled! From 79 in 2014 to a whopping 162 today, this diversification is super important for the local economy. MBREDC is determined to keep this trend going, aiming to attract at least $10 million in capital investment and create 100 new jobs annually. And guess what? They’re hitting their targets, achieving about $22 million in actual investment this year alone.

All Eyes on Amazon

One of the most exciting developments is the upcoming $14 million Amazon same-day delivery facility that’s slated to open its doors in Myrtle Beach in 2024. This new facility will create over 100 jobs and is strategically located in the Palmetto Coast Industrial Park, which is perfect for speeding up deliveries. Imagine receiving your packages within just five hours of placing the order—talk about convenience!

Amazon has been a huge player in South Carolina, investing more than $7 billion and creating over 6,500 jobs across the state. They’re even hiring 2,000 seasonal workers for the upcoming holiday season, with wages starting at $18 per hour. That’s bound to be a great opportunity for many!

Brewery on the Horizon

If you’re a fan of local brews, you’ll be excited to know that a new craft brewery named 357 Brewers is coming to the Grand Dunes Marina. With a projected investment of over $6 million, this brewery is set to create 35 new jobs by summer 2026, adding to the local flavor—literally!

Future Prospects and Clean-Up Projects

The MBREDC is currently juggling 42 active projects with various companies looking to set up shop in the area’s industrial parks. There are also 11 brownfield sites in Horry County that need cleanup before they can be redeveloped. In fact, South Carolina has around 765 brownfield sites mapped out for potential redevelopment.

A Bright Future Ahead!

With the new Amazon facility and the growth of businesses like 357 Brewers, Myrtle Beach is not just a seasonal town anymore. Over the years, the goal has been to diversify the local economy to avoid fluctuations during different seasons, and it looks like that strategy is paying off.

Residents can look forward to the continued expansion of job opportunities and economic prosperity in the area. It’s an exciting time for Myrtle Beach, and everyone is eagerly anticipating what’s next in this vibrant coastal city!