Economic Impact Study – University of South Carolina
BMW Manufacturing Co. has pumped more than $8.8 billion into South Carolina’s economy, leading to the creation statewide of 4.3 jobs for every job created at the Upstate factory, according to a study released Thursday (Sept. 11) by the Moore School of Business at the University of South Carolina.
The findings of the study reveal that, after 16 years, BMW has become more than a manufacturing branch plant of the famous German automaker. Combining manufacturing, community and educational activities, it occupies a distinctive position in the South Carolina economy, the report says.
The study stresses that as BMW invests and creates jobs for South Carolinians, it also demonstrates how successful businesses can address environmental challenges and serve as models for sustainable enterprise.
The economic impact study was conducted earlier this year using BMW’s activity in 2007.
“The immense impact of BMW is felt across the Upstate and throughout South Carolina,” said Dr. Douglas P. Woodward, professor of economics at the Moore School. Woodward and Dr. Paulo Guimaraes, also a Moore School economics professor, conducted the study.
The study focused on three key economic dimensions of BMW’s investment.
1. The total economic impact of investment, measuring the extent to which BMW provides employment and income for South Carolina residents, directly and indirectly;
2. BMW’s influence on the upgrading and enhancement of the technological and manufacturing competiveness of South Carolina;
3. The lead role that BMW has taken as a sustainable enterprise, with a strong commitment to environmental stewardship and community involvement.
Woodward said the study shows that BMW has an “outsized impact on the state’s economy” due to its presence as a “high-wage, final producer with extensive ties to local suppliers.”
The activities generated by BMW also serve as a stellar example of sustainable business practices in South Carolina.
“Given our school’s new theme of ‘sustainable enterprise and development,’ I am often asked what we at the Moore School mean by ‘sustainable,’ said Dr. Hildy Teegen, dean of Moore School. “BMW is a great example of a firm dedicated to sustainability. Like all companies, it depends on generating profit for its economic survival.
“But through its cutting-edge business practices and understanding of how to advance economic development in the markets where it participates, BMW has demonstrated that it is a responsible steward of the environment and benefits society at large.”
The complete report is available online at http://mooreschool.sc.edu/moore/research.