Now is no time for SC to retreat from the world

After the Brexit vote and recent acts of terrorism, many have suggested the United States needs to retreat from the world. But we need to remember that being part of and supporting the global economy is critical for our region and our state.

Here’s a U.S. state that might benefit from Brexit: South Carolina

Our region and state are leaders in the world, and that means jobs here at home. More than 540,000 S.C. jobs are supported by trade, more than 1,200 international companies have facilities in South Carolina, and this number is growing. Foreign-affiliated companies employ more than 104,300 South Carolinians — 7 percent of the state’s private industry employment. South Carolina leads the country in the share of its workforce supported by foreign companies. Boeing sells aircraft to the world that it manufactures in North Charleston.

South Carolina has had more than $400 million in capital investment from U.K. companies in the past 12 years, creating more than 2,700 jobs. The United Kingdom is South Carolina’s fifth largest trade partner, purchasing more than $2.8 billion in products last year.

More than 140 foreign companies in the Columbia area employ more than 18,000 people; our region is home to such major brands as Michelin, Koyo Corp., Ansaldo STS and TD Bank.

Additionally, two of our region’s most important players are major international players. Fort Jackson not only plays a central role in our national security in training most new soldiers but also is an important economic engine with a total impact of $2.8 billion each year, supporting 55,500 jobs and $1.9 billion in personal income. And the University of South Carolina’s International MBA program at the Darla Moore School of Business regained the top spot in the 2015 U.S. News & World Report’s Best Graduate Schools and has been ranked in the top three for 25 consecutive years.

We must continue to support international efforts and initiatives because it is in our economic interest to be involved. The global economy creates jobs right here in Columbia and all over South Carolina.