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Discussion Paper
Boeing South Carolina's Economic Impact: Ten Years After Opening
There is a long history of U.S. state and local governments using subsidies to attract employers and stimulate economic activity, but research suggests that these industrial recruitment policies can have high costs per job generated. In a recent research article published in Economic Development Quarterly, I evaluate the economic impact of South Carolina's $1 billion deal to recruit Boeing's 787 Dreamliner assembly plant to North Charleston, which opened in 2011. The research investigates how the Boeing plant impacted South Carolina's burgeoning aerospace industry, the Charleston Metropolitan ...
Discussion Paper
What Might Cuts to the Federal Government Workforce Mean for the Fifth District?
Federal government employment spans the country, but there is a concentration in the District of Columbia and spread through the surrounding counties in Maryland, Virginia, and West Virginia. Historically, the federal government presence has both insulated the region from the effects of economic downturns and also created additional challenges in the case of sequestration in 2013 or during short-lived government shutdowns.Understanding the economy of the Fifth District, therefore, requires sizing and preparing for any adverse economic impact of cuts in federal government employment and ...
Briefing
The Economic and Human Impacts of Hurricanes
Hurricane Helene brought large destruction to parts of the Fifth Federal Reserve District, most notably western North Carolina.1 Helene was the deadliest hurricane to hit the mainland U.S. since Hurricane Katrina in 2005, and Helene's impact on both metro and rural areas was devastating. Then, less than a week later, Hurricane Milton made landfall in Florida as a Category 3 storm.Such powerful storms not only have immediate effects but can have lasting ones as well. There are recent advancements in the research literature that help us better understand what more or stronger hurricanes might ...