COLUMBIA, S.C., April 23 (UPI) -- The economic impact on South Carolina last year by non-profit technology services company SCRA was $1.35 billion, according to a new study.
The study was led by the University of South Carolina’s Moore School of business and showed the dollar impact increased by more than $110 million over the previous year, bringing SCRA’s 31-year cumulative total to more than $16.65 billion.
"We are pleased to once again be quantified as a leading force in advancing South Carolina's knowledge economy,” said SCRA Chief Executive Officer Bill Mahoney. "SCRA has delivered 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. (Douglas) 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.”
SCRA was founded by the state’s legislature under a public charter with the aim of aiding in the development of technology-based industries in the state. It collaborates in advanced research programs, commercialization ventures and other technology endeavors.
The study on SCRA’s impact was led by USC Division of Research Director Dr. Douglas Woodward and incorporated all SCRA operations in South Carolina from its three sectors -- SCRA Technology Ventures, SCRA Applied R&D and SCRA R&D Facilities -- and showed that SCRA extended its contributory role in them and successfully manage federal and corporate R&D contracts and high-tech start-up companies at its three innovation centers.