The jury is still out on the 2017 tourism season in South Carolina, but by at least one metric the city at its epicenter, Myrtle Beach, is doing exceedingly well.
According to reporter Megan Tomasic of The (Myrtle Beach, S.C.) Sun News, the city approved $411 million worth of new construction projects between July 2016 and June of this year – a new record.
“We’ve seen city growth but this is the highest,” Myrtle Beach’s top planning official told Tomasic. “This is higher than it was during the growth curve before the housing market fell.”
To be clear: Data coming out of official channels along the Grand Strand should be viewed with considerable speculation. Why? Because it’s not always accurate. It’s important to look at multiple sources when assessing the Grand Strand’s economic situation. Also it’s important to remember that economic development in the Palmetto State often comes at a cost to taxpayers (i.e. crony capitalist incentives).
That’s not pure “addition.”
Still, growth is good. And assuming these numbers are accurate, it’s a positive sign for a city that’s facing some serious long-term macroeconomic pressures.
“Myrtle Beach is booming,” the city noted on its Facebook page.
We’re not ready to go that far, but we are pleased to see the numbers trending in a positive direction – and we are pleased to see that the rumored collapse of its “China connection” last August hasn’t completely tanked the city’s growth.
Our hope for Myrtle Beach (and other cities across the Palmetto State) is that it can experience sustained, organic growth tied to a vibrant and competitive free market – one in which taxes and regulation are kept to a minimum so as to empower innovation and consumerism.
That’s how to create a free and prosperous citizenry …
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