IslandVibesIOP.com 5 homebuyers and families, shaping our region well into the future.” Of course, these new residents will have to cope with some of the same factors as people in other parts of the country. Inflation, for example, is expected to be a hot topic at the conference, as consumer buying has not returned to pre-COVID levels as forecast in 2025. Officials with the Federal Reserve have also hinted recently that national interest rates could go up before the end of the year. If this happens, the new rates could affect bank accounts, loans, credit cards, investments and incentives for creating new businesses. In real estate, home prices, especially in Charleston County, have skyrocketed in the last 10 years. Based on reports by Realtor.com®, median home prices for the City of Charleston rose from about $325,000 in 2016 to $675,000 in 2026. On Isle of Palms, this median increased from approximately $800,000 to a whopping $2.5 million. But Charleston’s labor market has continued to outperform national trends. Economists from last year’s conference projected this market to grow this year by another 2% from 2025. Whereas the area’s unemployment rate is expected to remain steady at 3.5% through 2026, no one knows what the conference experts’ outlook will reveal or how much their 2027 predictions will match outcomes. Three things, however, are certain: last year’s conference was sold out, tickets for this year are still available and if you are new to Charleston, a little insight into where the area is headed can’t hurt. “Charleston Metro is growing fast, but the real opportunity is understanding where,” Sheilley said in an April LinkedIn post. “U.S. Census Bureau data shows growth in the Charleston Metro is accelerating, but much of it is happening outside of Charleston County. That shift is creating new opportunities for investment, workforce, housing and long-term regional strategy.” FROM THE TEAM Economic Outlook Conference set for November Experts again anticipate much depending on inflation, federal interest rates By L. C. Leach III If 2026 has seemed bumpy, stressful, up-and-down or too often perturbing because of continuing worker shortages, political unrest and ongoing inflation, 2027 might prove more stable and uplifting – if you can handle more of the continued uncertainty – all of which is likely to be in evidence at the Charleston Metro Chamber of Commerce’s 35th annual Economic Outlook Conference this autumn. Scheduled for Nov. 10 at Trident Technical College in North Charleston, more than 400 business leaders are expected to come together for projections and insights by Mark Witte, professor of economics at the College of Charleston, into where South Carolina’s economy is headed for 2027 and what it could mean for individual businesses in the Lowcountry. The Charleston area itself is anticipated to play a key factor. For example, in a 2025 Growth Index compiled by U-Haul, Charleston ranked No. 7 among U.S. metro areas, climbing six spots from No. 13 in 2024 – ahead of both Raleigh, North Carolina, and Atlanta – and reinforcing the region’s long-term growth momentum. “There are two key reasons we pay close attention to this ranking,” said Kevin Sheilley, president and CEO of the Charleston Metro Chamber of Commerce. “First, it tells us who is moving here. Many U-Haul customers are young people, which signals that the Charleston region continues to attract young professionals and emerging talent, fueling our economy today. Second, these new residents represent future Transportation Sales Tax Referendum heading to November ballot By L. C. Leach III While Election Day is still a couple of months away, now is the time for Charleston County voters to carefully weigh a referendum ballot option: to either continue or halt the half-cent Transportation Sales Tax. The Charleston County Council approved the referendum after months of discussion and a final third-reading vote on July 21. The motion passed 7-1, with one member absent. If passed in November, the proposed TST program would total $4.25 billion for a time frame not to exceed 25 years, and would invest in roads, public transit, flood protection and green space, with projects planned for communities across the county. Funding from the sales tax would be earmarked as follows: • Featured Projects – 39.95%. At a price tag just under $1.7 billion, this area would include improvements to Mall Drive in the City of North Charleston; a widening of U.S. 17 South in the City of Charleston; and Long Point Road resiliency in the Town of Mount Pleasant. • Public Transit – $858 million – 20.19%. This part would include $23 million for implementing a downtown route study. • Greenbelt Program – $690 million – 16.24%. Funding would go to preserve parks, greenspaces and conservation efforts. The remaining percentage, totaling just over $1 billion, would fund debt service, pavement management, intersection safety, signal coordination, bike/ pedestrian improvements and $113 million for carryover needs. Isle of Palms Mayor Phillip Pounds said that while there are no specific IOP projects tagged at this point, that would likely change if the measure passes. “IOP would certainly look to have plans submitted to meet the demands of a growing population,” he said. “From my standpoint, the large infrastructure projects should benefit all of us.” However, Matt Dillane, marketing and communications coordinator with the Charleston County Board of Voter Registration and Elections, pointed out that while the measure would affect all county residents in some way, there is no guarantee of how many people will turn out to cast their ballot. “Predicting how referendums impact voter turnout is difficult,” he said. “Many factors influence turnout, including the content of the referendum itself and the other races and candidates present on the ballot.” One possible factor is that five members of the current county council will be on the ballot for re-election: Jenny Honeycutt, Herbert Sass, Teddie Pryor, chairman Joe Boykin and vice chairman Larry Kobrovsky. Another is that despite the council’s majority OK for the referendum, two members voiced concerns that the amounts slated for different projects are not earmarked in the right proportion. Councilman Brantley Moody – who has opposed the measure since day one – said he remains a ‘no’ partly because the Greenbelt Program has exceeded expectations, yet its supporters are now asking for more funding; and mainly because more money should be marked for infrastructure. “(We have) presented that $2.7 billion goes to infrastructure, about 63% – that’s just not the case – that number is closer to 46% now after this action tonight,” said Moody, addressing the council before the third reading vote. “I don’t think our roads are at 120% of performance like Greenbelt is. And when you take out $690 million in seawall debt service, some of the bike-ped money that’s got to sit idle, you’ve got about $2 billion of $4.25 billion on a Transportation Sales Tax going to infrastructure that our constituents can actually use. TST needs to be more about this than handouts to special interest groups and Greenbelt, a slush fund.” Councilman Henry Darby added that while he agrees with Moody on many concerns, particularly Greenbelt, he believes the referendum measure is the best way to either move or fail forward – “to let the public make that decision.”
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