 Building a sustainable economy
for ‘New South Carolina’
Time flies. It was way back in December 2003 when Harvard professor Michael Porter first presented his new economic development strategy for South Carolina. In essence, Porter said we should play to the strengths of our core industries, focus on education and build an environment that fosters innovation.
Following that presentation, a group of business and government organizations, including the Department of Commerce, the Palmetto Business Forum, the Palmetto Institute and the S.C. Chamber of Commerce, formed the S.C. Council on Competitiveness. More than 50 leaders from around the state were invited to join the board of this new organization.
Their verdict on the task that lay ahead was direct and unequivocal: “In a nutshell, South Carolina must re-learn to compete. We must become a New Carolina.”
Those were bold words at a time when news reports were focusing on job losses and the decline of the state’s traditional textile-based manufacturing sector.
Would Porter’s report wind up on a shelf gathering dust? Would “New Carolina” become a meaningless buzzword? As you read through this inaugural issue of SCBIZ, I think you’ll find the answer: South Carolina really is moving along a new path that could bring dramatic gains in economic growth and prosperity in our state.
Success is by no means assured, but there are signs of a great awakening, with much of the energy being generated by our major research universities. And while Clemson, the Medical University of South Carolina and the University of South Carolina are key players in the effort, the state’s other four-year schools and technical colleges are also very much in the game.
A few months ago I had the opportunity to meet John W. Kelly, vice president for public service and agriculture at Clemson University. Kelly is the research and development director of the Clemson Restoration Institute and is overseeing the development of the institute’s planned North Charleston Research Park.
During our meeting, he described the excitement bubbling up from the increasingly open dialogue across academic disciplines in the state, as well as a new level of collaboration between our research universities and leaders in government and private industry.
I first heard about the Clemson Restoration Institute last summer at the annual meeting of the S.C. Economic Developers Association. A presentation by Janice Cervelli Schach, academic director of the Clemson University Restoration Institute and dean of the school’s college of architecture, arts and humanities, laid out the school’s plans for this ambitious and visionary program (visit the institute’s Web site at restoration.clemson.edu for details).
I highly recommend the Web site, because the word “restoration” by itself doesn’t do justice to the scope of the institute’s mission, mainly because it’s a new concept for most people. Restoration includes recovering and improving damaged urban environments, using healthier and more eco-friendly materials for new buildings and restored structures and addressing storm-water drainage and other urban issues that threaten sensitive areas, including South Carolina’s entire coast and its rivers, streams and marshes.
The Restoration Institute’s North Charleston Research Park is an exciting project which is truly on the cutting edge of 21st-century economic growth. As evidence of that point, consider the lead-in to the cover story in a recent issue of BusinessWeek magazine: “Imagine a world in which socially responsible and eco-friendly practices actually boost a company’s bottom line. It’s closer than you think.”
The article contained both a warning and a promise of economic opportunity: We are entering a new era when the protection of our environment, both globally and locally, will become a paramount issue for business and society in general. Companies that get on the bandwagon early will prosper, and those that lag behind will find their business models and bottom lines at risk.
There are other important university-based initiatives that relate to the environmental challenges we face, including global warming. The University of South Carolina’s Future Fuels initiative is a great example, focusing on hydrogen and fuel cells as well as other alternatives to fossil fuels.
Collaboration between higher education and industry to drive innovation is an old story in Silicon Valley and North Carolina’s Research Triangle. But what’s happening in our state is new for us, and it’s a promising development for our economic future.
As long as we’re innovating, maybe we should officially rename our state and call it “New South Carolina.” Now that would get people’s attention, wouldn’t it?
Bill Settlemyer
President and CEO, Setcom Media Inc.
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