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Economic growth impacts Charleston hot spot

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CHARLESTON, SC (WCSC) -

Charleston Metro Chamber of Commerce says that the city's economy is booming and it's causing a trickle effect for certain areas reaping the benefits.

Upper King Street is gaining a lot from the economic growth and is becoming the hot spot for where businesses want to go, that's according to Patrick Price, of the Prime South Group.

Halls Chophouse has been on King Street for five years and were quick to buy their neighboring property when it opened up. They're using it to expand their existing restaurant.

"It's on fire. King Street is happening, it's the place to be - especially Upper King Street," said Tommy Hall, general manager of Halls Chophouse.

Hall says their expanded space should be open to business by the beginning of 2014.

Halls Chophouse is just one of many businesses expanding in the area. Others include The Restoration on King hotel and the Midtown Hotel, according to Price.

"You know, I think its just going to keep going because we've got the hotels coming to town, more restaurants are coming in and what that does is it brings more people," said Hall. "With more people, there's more options for them to dine."

"Charleston is the envy of many areas because of the economic growth that's occurring here right now," said Mary Graham, Senior Vice President of Business Advocacy for the Charleston Metro Chamber of Commerce.

Graham says that while Conde Nast rated Charleston the top tourist destination in the country, for the third year in a row, it's that's not the only thing driving our economy.

Graham says growth in the manufacturing and technology industries is bringing more people to Charleston.

"More jobs means people have more paychecks, more paychecks mean they can go out and spend that money on lots of different things in the community - such as eating out or shopping or dining," said Graham.

Graham says that Charleston is one of the top 100 metros in the country. Other areas of the Low Country are booming as well, including North Charleston and Mount Pleasant.

"We think the economic growth is going to continue in our area," Graham.

Copyright WCSC 2013. All rights reserved.

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