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Three Things to Know: October 1st
 


This Week's business information compiled by your SC Chamber Team
SC Chamber New Board Installed; Boeing to Transition all 787 Production to SC; and Latest Unemployment Numbers
 


1. SC Chamber New Board of Directors Installed Today
Today, the 2020-2021 South Carolina Chamber of Commerce Board of Directors was installed. We are excited to welcome Tim Arnold, CEO of Colonial Life as our 2020-2021 Board Chair and Kim Wilkerson, SC Market President; Managing Director of Bank of America as our Chair Elect. Steve Spinks, CEO of The Spinx Company will remain on the board as the immediate Past Chair. Additionally, fifteen new board members will start their term today. Read more about our new officers and board members here.

“We are lucky to have this strong group of business leaders guiding the State Chamber for the upcoming year,” said Ted Pitts, President and CEO of the South Carolina Chamber of Commerce. “With their leadership, we will continue the work to improve the state’s business climate.”
See the full SC Chamber board here.
 
2. Boeing to Transition all 787 Production to SC
Today, SC Chamber member Boeing announced that it will be transitioning all 787 production to the North Charleston, SC facility over the next several months. Currently, the aircraft is produced at both the North Charleston location and the Everette, Washington location. Due to the economic downturn, Boeing made this decision to “preserve liquidity and reposition certain lines of business in the current global environment to enhance efficiency and improve performance for the long-term.”
 
Production in Everette will continue until the program begins building at the previously announced rate of six airplanes a month in 2021.
 
SC Chamber President and CEO Ted Pitts issued the following statement following the announcement:
 
“Boeing’s decision to consolidate all 787 production at the North Charleston facility is yet another sign of the strength of our state’s workforce and South Carolina’s pro-business environment. In an ever-changing global economy, companies have to find ways to be more efficient as they serve their customers. The partnership between Boeing, the Lowcountry, and South Carolina is stronger than ever.”

3. Latest Unemployment Numbers
The SC Department of Employment and Workforce (DEW) released updated weekly unemployment numbers today:
  • For the week ending September 26, the initial claims filed were 5,132 and the average weekly benefit amount was $261.04.
  • This is an increase of 199 initial claims from the week prior.
  • This is the third weekly increase in the last five weeks.
  • Since mid-March, the total number of initial claims received is 749,708.
Since March 15th, the agency has paid more than $4.26 billion in a combination of state unemployment insurance benefits and federal CARES Act programs.
 

These and other resources for businesses are available on our website.

As always, we will keep you up-to-date on any further information as it becomes available. Please feel free to reach out to us at COVID19Response@scchamber.net with questions.

Sincerely,
Ted
P.S. Be on the look out tomorrow for social media posts and news about National Manufacturing Day. Don't forget to tag the Chamber in any of your posts celebrating the day! 
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