[April 21, 2014] |
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SCRA's Impact on South Carolina $1.35 Billion in 2013
COLUMBIA, S.C. --(Business Wire)--
SCRA today announced that its 2013 economic impact on South Carolina,
collected through a study led by the University of South Carolina's
Moore School of business, was $1.35 billion. The 2013 totals were up
over a $110 million from 2012. Overall, SCRA's 31 year cumulative output
total now stands at over $16.65 billion.
USC Division of Research Director Dr. Douglas Woodward led the study,
which incorporated all SCRA operations in South Carolina from its three
sectors: SCRA Technology Ventures, SCRA Applied R&D and SCRA R&D
Facilities. The numbers show that SCRA extended its significant
contributory role in all three business sectors, continuing to
successfully manage federal and corporate R&D contracts, house and equip
high-tech start-up companies at its three innovation centers and invest
in and grow South Carolina's technology-based economy.
"We are pleased to once again be quantified as a leading force in
advancing South Carolina's Knowledge Economy," said SCRA CEO Bill
Mahoney. "SCRA has delvered substantive outcomes throughout the past
year, continually fulfilling our dual mission through delivering
high-tech solutions to our federal and corporate clients and ensuring
South Carolina's Knowledge Economy gains strength. We are delighted to
work with Dr. Woodward and USC's Moore School to measure our economic
output, which helps us faithfully fulfill our mission by measuring our
support for technology companies and our creation of Knowledge Economy
jobs in South Carolina."
In its 31 year history, SCRA has grown significantly, with record
revenues of $266 million achieved in 2013, up 25 percent from last
Fiscal Year. Normalized operating earnings were up 15 percent and
backlog was up 11 percent. All numbers indicate strong sustained Applied
R&D business, the proceeds of which will enable ongoing incremental
execution of SCRA's public mission on behalf of technology-based
economic development.
About SCRA
http://www.scra.org/
SCRA is an applied research corporation with over 31 years of experience
delivering technology solutions with high returns on investment to
federal and corporate clients. To fulfill our mission, SCRA has three
sectors: our Technology Ventures sector helps early-stage companies to
commercialize innovations and create jobs, our Applied R&D sector
manages national and international R&D programs worth nearly $2 billion
in contract value and our R&D Facilities sector builds and manages
research facilities that include wet labs, secure rooms for sensitive
work and advanced, high-tech manufacturing shops. Multiple economic
impact studies show SCRA's cumulative output into South Carolina's
economy to be $16.65 billion.
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