Manufacturing Sector Drives Rental Demand; Employment Outpaces National Average
Employment growth in the Columbia metro remains positive across all sectors, and continues to outpace the national average, which is supporting renter demand. Significant growth is occurring in the trade, transportation and utilities, manufacturing and government sectors. When combined, these industries accounted for nearly 50 percent of all new positions created in the past year. One major company supporting manufacturing growth is Chinese fiberglass maker China Jushi, which will invest $300 million into the Columbia economy, creating 400 new positions. Other economic drivers include the automotive industry. Three different companies, including Meyer Tools Inc., are expanding their presence in the area, and together will create more than 300 new jobs. The Central Columbia/University submarket has seen a significant drop in multifamily occupancy[…]
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