Charleston’s tech industry reports growth in annual wages

The Charleston Digital Corridor announced that the average per-capita wage at companies participating in its 2021 Annual Wage & Job Growth Survey is $101,710. The economic development agency noted that this year’s figure is a “considerable increase” from last

year’s average of $91,183.

 

The average yearly wage in South Carolina is $46,230, which is slightly lower than the Charleston region average of $50,810, according to May 2020 data from the U.S. Bureau of Labor Statistics.  

 

Key workforce and workspace insights from the 2021 survey: 

 

• 100% of companies reported adding jobs in 2021 

 

• 100% expect to continue hiring into 2022 

 

• 94% of respondents reported moving to a hybrid work model  

 

• 94% of respondents have downsized offices or expect to do so in 2022

 

• Several companies benefited from capital infusions in 2021 to fund growth and acquisition 

 

“While the acceleration of a hybrid work model is resulting in a spike of migration of tech talent into our region, many of the recent transplants continue working for companies located  elsewhere,” Charleston Digital Corridor Director Ernest Andrade wrote in a press release. “With a high level of business assistance for startup and early-stage tech companies, we expect some of these experienced professionals to start their own ventures or take on roles at local tech companies and contribute to the growth of Charleston’s tech

community.”  

 

The announcement stated that a contributing factor in the growth of tech in the Lowcountry is the recent addition of the Charleston Tech Center, a 92,000-square-foot facility located downtown that is currently home to 51 tech-related companies.

 

“The business resources, amenities and flexibility offered to my company at the flagship Charleston Tech Center as we grow is exactly what we needed,” stated Sikes Dorsey, founder and CEO of Cloud on Tap.