Investor Presentaiton
Section IV - The Unmet Demand for
Local Agriculture in South Carolina
THE ECONOMIC BENEFITS OF CAPTURING
UNMET DEMAND
As previously noted, in 2020, South Carolinians purchased approximately $36.9 billion in agribusiness-related
products. However, just 32 percent of these products were grown or manufactured in South Carolina by South Carolina
businesses. This, in turn, also means that 68 percent of these products were purchased from out-of-state suppliers.
Because the majority of agribusiness products purchased by South Carolinians are not produced locally, there is a
significant potential demand for additional local production that is not currently being satisfied. Or put another way,
there is currently an unmet local demand in agribusiness products that new or existing in-state suppliers could potentially
capture. To the extent that local suppliers would be able to capture a portion of this unmet demand, it would represent a
net gain for the South Carolina economy and an increase in the total economic impact of South Carolina agribusiness.
This study now turns towards specifically quantifying this unmet demand by product category, highlighting areas where
the SCDA may have opportunities to facilitate additional production, and then estimating the potential economic benefits
to South Carolina from this increased production.
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CULTURE
There is a significant potential
demand for additional local
agribusiness production that is
not currently being satisfied.
Just 32%
of all agribusiness products
purchased by South Carolinians
are currently produced in
South Carolina, meaning that
68% are purchased from
out-of-state suppliers.View entire presentation