SRS Economic Impact Study
The operations at Savannah River Site (SRS) create jobs, generate income, and contribute to the tax revenues across both South Carolina and Georgia. When economic multipliers are factored in, the economic ripple effect is enormous. Despite its significance in recent years, there has been little understanding beyond qualitative observations about the value of SRS’s contributions to the region and what that impact means in quantifiable terms.
Consequently, the SRSCRO commissioned an Economic Impact Study to examine both SRS’s value to the economy, as well as its overall impact on five SRSCRO counties, Aiken, Allendale, and Barnwell in South Carolina and Richmond and Columbia in Georgia. These counties were chosen because this is the area which comprises the SRSCRO’s major area of influence as the DOE-designated Community Reuse Organization for the Savannah River Site. The SRSCRO believes this summary will be useful to decision makers and the general public when confronted by the multifaceted issues associated with a 198,000 acre site with complex and diverse projects and programs.
The O’Connell Center for Executive Development at the University of South Carolina Aiken led the study and assembled a team of experts particularly suited to this study. It included specialists from schools of business from two regional universities, Augusta State University and the University of South Carolina Aiken; the school of business from a regional HBCU (Historically Black Colleges and Universities), Claflin University; and an expert in economic impact and new mission planning. The purpose of this study was to determine the economic impact the Savannah River Site (SRS) has on a five-county region in South Carolina and Georgia for a one year period – Fiscal Year 2010.