For Immediate Release:
April 30, 2024

York County Economic Indicators | Semiannual Update 2024
A Closer Look at Growth and Transformation

YORK COUNTY, SC – The industries that employ York County residents are in the midst of significant change. Changes to the retail marketplace, our location, and access to major transportation routes, coupled with strong population growth and the need for more services to support our growing resident base, are transforming York County’s job market and reshuffling our top employment centers.

According to the latest BLS Data, York County added 1,000 jobs over the past 12 months, and the unemployment rate has stayed below 4% for the past two years. The tight labor market helped push wages up to an annual average of $57,145. Local wages have risen by 11.6% over the past two years, outpacing inflation by two percentage points. The fastest growing industries in York County post-pandemic are Transportation & Warehousing, Health Care & Social Assistance, Accommodation & Food Service and Retail Trade, which account for 95% of new jobs created since 2020. In year-over-year terms, Healthcare and Social Assistance saw the largest gains, due in part to the opening of a new hospital. Management of Companies & Enterprises reported the highest wage gain.

Generally speaking, real estate markets have slowed compared to the heightened growth seen over the past few years; however, the industrial market remains strong. Major deals such as PDM U.S., Pallidus, Silfab Solar and QTS Data Centers choosing to establish operations in York County have fueled gains locally. York County absorbed more than 2M square feet of industrial space in the past year, and the vacancy rate remains below 5%, which allowed rent growth to exceed 10% over the past year. Strong consumer spending has spurred demand for retail space, and more than 61,000 square feet was absorbed over the past year, allowing for rent growth at 5.2% year-over-year.

The York County economy is on solid ground as new high-tech industries emerge and reshape the local marketplace. Uncertainties surrounding global events notwithstanding, York County and the entire Charlotte region are expected to continue to see strong job growth. In the past 12 months, York County has announced projects that will add nearly 1,000 new jobs to our economy, jobs that will bring more people and prosperity to our region.

About York County Economic Development:
York County Economic Development (YCED) is the lead organization responsible for recruiting businesses, retaining and growing existing firms, and promoting and marketing York County. YCED also assists in strategic initiatives across York County that are focused on product development, workforce development, infrastructure improvements and quality of life.

Media Contact:
Caroline Floyd, Marketing Director, Caroline.Floyd@yorkcountygov.com

See link below for a print-friendly PDF of the report:
York County Economic Indicators | April 2024