VIDEO: South Carolina hits ‘50 by 20′ goal for agribusiness

COLUMBIA, S.C. (WIS) - Monday morning South Carolina Governor Henry McMaster announced the results of an analysis of agribusiness’ impact on South Carolina.

The announcement was scheduled for 11 a.m. at the South Carolina State House. Speakers included Dr. Joey Von Nessen, a research economist at the Darla Moore School of Business, Cam Crawford, president, and CEO of the South Carolina Forestry Association, and Commissioner of Agriculture Hugh Weathers.

Von Nessen said the agribusiness industry has a $51.8 billion economic impact on South Carolina each year. Von Nessen said the industry is responsible for up to 259,215 jobs. In 2006 the industry had a $34 billion impact on the state economy.

Monday’s announcement comes as part of a strategic goal set in 2009 by state leadership to grow the industry impact in the state to $50 billion annually by 2020. The research examined the annual labor income of the state in the 50 by 20 goal.

Weathers said, “From farmers to foresters, from poultry plants to papers mills, from turfgrass to high-tech tractor repair, agribusiness has an enormous impact on South Carolina and we’re proud of it.”

McMaster said, “Over the years, South Carolina’s economy has changed and grown dramatically, but our farmers and others in the agribusiness industry have been a constant and have always helped lead the way.”

Von Nessen said the industry grew by 40% between 2010 and 2020.

WIS will update this story as we learn more.

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