Investor Presentaiton
EXECUTIVE SUMMARY
South Carolina's agribusiness cluster is one of the state's largest industry groups. As of 2020, the total annual
economic impact of agribusiness on the Palmetto State is $51.8 billion. This figure reflects the dollar value
representing all final goods and services produced statewide that can be attributed (directly or indirectly) to the
agribusiness cluster. This impact corresponds to 259,215 jobs and over $12.3 billion in labor income that would
not exist otherwise.
Agribusiness in South Carolina encompasses both the agricultural and forestry sectors, which represent about
55 percent and 45 percent of agribusiness, respectively. The largest industry sectors within the agricultural
component of agribusiness are those related to poultry and poultry-related products. Within the forestry sector,
paper and paper product manufacturing represent the largest industry sectors.
South Carolina agribusiness has experienced significant growth throughout the previous decade. The agribusiness
cluster increased by approximately 40 percent between 2010 and 2020 - from roughly $37 billion to $52
billion. The agricultural component grew at 39 percent over this time period, while the forestry component grew
at 41 percent.
The agribusiness cluster has a significant opportunity for growth in the coming decade. South Carolina currently
imports $11.7 billion in agribusiness products from outside of the state for final consumption. This represents
an unmet local demand that, if captured by local agribusiness firms, would further increase the total current
impact of South Carolina agribusiness by nearly 23 percent.
The SCDA is actively working on various initiatives for capturing this unmet demand, including proactive efforts
towards expanding meat/beef production and processing. If South Carolina were to capture just 25 percent
of the current unmet demand of this industry, this would increase the total economic impact of the South
Carolina agribusiness cluster by as much as $511 million annually. These results imply that for every $1
in new demand generated from additional production activity in meat/beef production and processing, a
total of $1.53 would be generated in new economic activity for the state's economy.View entire presentation