Charleston Digital Corridor 2020 Annual Report

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Charleston Tech Center rendering by Bello Garris Architects | Image via @charlestondigitalcorridor

Charleston’s tech scene continues to thrive as entrepreneurs + innovative start-ups plant their roots in Silicon Harbor.

Last week, the Charleston Digital Corridor (CDC) released its 2020 Annual Report + Annual Wage and Job Growth Survey. The CDC is a nonprofit corporation that focuses on diversifying Charleston’s economy by pursuing, promoting + expanding innovative tech-related products, services and more within the Charleston region.

Members of the CDC are comprised of local entrepreneurs, startups + investors. Currently, CDC has 83 members that employ 600+ people, composed of companies like Blackbaud, Google (Berkeley County) + Vikor Scientific.

Each year, CDC analyzes various data shared with the public that showcases how the local tech hub is growing and accomplishing its mission of nurturing + promoting the region’s tech economy.

Here are the biggest takeaways from the report:

Since 2010, members of the CDC have raised a cumulative capital of nearly $2 billion through grants, private equity, acquisitions, mergers + more.

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CDC member cumulative capital | Image via Charleston Digital Corridor

Regional tech companies that are part of CDC’s web directory – CharlestonWorkscontinue to show growth, with 40% of the reported 426 companies actively hiring.

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CharlestonWorks tech company growth | Image via Charleston Digital Corridor

CDC’s Annual Wage and Job Growth Survey shows that the average annual wage for participating regional tech companies is $91,183, which is nearly double the Charleston Region average wage of $47,800.

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CDC Average Wage Comparison | Image via Charleston Digital Corridor

Additionally, the wage survey showed that 57% of companies reported adding jobs in 2020 + 100% expect to hire in 2021. Of these companies, all are operating virtually at some level, with 50% reporting they are fully virtual.

CDC’s Charleston Free Wifi initiative – a project funded by a community grant from Google – has now provided 12 public parks in the tri-county area with free Internet access.

CDC acquired the 4th floor of the new 22 WestEdge building in the beginning of 2020, and has since fully leased it to tech + life science companies.

The Charleston Tech Center is on track to open in February, which will serve as the center of Charleston’s growing technology district. The second floor of the building will be home to Flagship – a 15,000 sq. ft. co-working space + the CDC’s permanent headquarters.

Read the full report including Charleston tech leader interviews, additional data + local accoladeshere.