Excellent research-development, poor global outreach leaves Columbia hoping for improvement
On Thursday, Oct. 23, University President Harris Pastides and Columbia Mayor Steve Benjamin met to announce the release of EngenuitySC’s 2014 Midlands Regional Competitiveness Report. The report analyzes economic strategies in the Greater Columbia area against eight other southeastern metropolitan cities of comparable size. These cities include Raleigh, North Carolina, Charleston, South Carolina and Lexington, Kentucky.
EngenuitySC is a partnership between the public and private sectors that focuses on enhancing economic competition throughout the Midlands region. This is not a new organization, but 2014 is the first year such a report has been made public.
The report itself factors in statistical data from Richland, Lexington, Kershaw, Fairfield, Saluda and Calhoun counties. Each county is evaluated with a scale determined by EngenuitySC that assesses the five indicators of economic competitiveness: talent, business environment, innovation, industry clusters and livability.
"Developing into a competitive region is not something that will happen overnight,” said Meghan Hughes Hickman, Executive Director of EngenuitySC. “It also doesn't happen without deliberate, intentional coordination and cooperation. I am thrilled that EngenuitySC is able to provide the Midlands with a data-driven tool that can shape and mold our progress for years to come. We have made incredible strides in the past ten years, and with this competitiveness report influencing our vision and efforts, I think we'll see even more substantial progress in the next ten."
This year, Columbia found itself in the middle of the heap — not quite rising to the challenge of a global market, but still a comfortable city in which to work and live. The report encourages "workforce development" in order to attract and retain local economic talent. The city's violent crime rate is higher than the national average, but lower than other in-state rates.
On a lighter note, the cost of living is "well below the national average" making city living both desirable and affordable. The report also notes that 30 percent of the city's population is between the ages of 18-40, "contributing to a young and vibrant culture." Additionally, research and development expenditures are greater than the national average by 40 percent.
EngenuitySC is also pleased to report that that the education attainment rate is higher than the U.S. average and significantly higher than comparative cities. An impressive 6.31 percent of the population has an Associates degree, while 9.27 percent have a Bachelors degree or higher.