AngelouEconomics was retained by the Charleston Regional Development Alliance in 2004, to conduct an economic development strategic plan for the city. Charleston experienced the closing of its naval base in the 1993 round of BRAC. However, Charleston is still home to more than 16,000 military personnel and the Navy’s Space and Naval Warfare (SPAWAR) Systems Center. The firm assessed the role that current military installations play in the regional economy and the region’s performance since the economic shock of its base closing in 1993. The study provided Charleston with a vision for long-term economic development, identified key target industries, and presented an action plan to guide further diversification of its strong maritime port and defense sectors.
In addition to this study, the firm was also hired (through funding provided by an OEA grant) to develop a military diversification strategy to help economically diversify the region into industries that are independent of its military installations.