MUNICH, GERMANY – BMW Manufacturing Co. has pumped more than $8.8 billion into South Carolinas economy, leading to the creation statewide of 4.3 jobs for every job created at the upstate factory, according to a study released by the Moore School of Business at the University of South Carolina, according to www.wach.com. The findings of the study reveal that, after 16 years, BMW has become more than a manufacturing branch plant of the famous German automaker. Combining manufacturing, community, and educational activities, it occupies a distinctive position in the South Carolina economy, the report said.
The study stressed that as BMW invests and creates jobs for South Carolinians, it also demonstrates how successful businesses can address environmental challenges and serve as models for sustainable enterprise.
The economic impact study was conducted earlier this year using BMWs activity in 2007. The study focused on three key economic dimensions of BMWs investment.
1. The total economic impact of investment, measuring the extent to which BMW provides employment and income for South Carolina residents, directly and indirectly.
2. BMWs influence on the upgrading and enhancement of the technological and manufacturing competiveness of South Carolina.
3. The lead role that BMW has taken as a sustainable enterprise, with a strong commitment to environmental stewardship and community involvement.
Woodward said the study shows that BMW has an outsized impact on the state’s economy due to its presence as a high-wage, final producer with extensive ties to local suppliers.
The Moore School study was funded by BMW Manufacturing Co. The complete report is available online at http://mooreschool.sc.edu/moore/research.