CRDA Launches New Regional Innovation Scorecard to Benchmark Growth and Opportunity

The Charleston Regional Development Alliance (CRDA) is proud to unveil the Charleston Region Innovation Scorecard—a powerful new tool that offers a data-driven snapshot of how the Charleston metro stacks up against leading innovation hubs across the country.

Developed in partnership with The Catalyst Foundation and powered by the StatsAmerica Innovation Intelligence Index, the scorecard measures key indicators across business dynamics, talent, and economic growth. It compares Charleston with metros like Austin, Seattle, Nashville, Raleigh, and Jacksonville—regions that serve as both collaborators and competitors in today’s knowledge economy.

Why It Matters

Innovation isn’t just a buzzword—it’s the foundation of a region’s long-term economic vitality. Regions that foster entrepreneurial activity, support a skilled workforce, and invest in high-tech sectors are more resilient, more competitive, and more prosperous.

The Innovation Scorecard serves as both a benchmark and a blueprint. It gives our community clarity on where we shine and where we must grow. Some highlights from the 2025 data include:

• Charleston ranks 34th out of 380+ U.S. metros in overall innovation performance.

• More than 1 in 10 local businesses are newly established, placing Charleston in the top 10% nationwide for business formation.

• Charleston ranks 28th for proprietorship rate, reflecting a strong culture of entrepreneurship.

• High-tech employment has grown to 12% of total jobs, up from 8% just two decades ago.

• The region saw a 96% increase in patents per capita from 2012–2022—compared to just 11% nationally.

Despite our momentum, the scorecard also reveals important challenges, such as:

• A decline in local STEM degrees over the past decade.

• A need to boost local venture capital activity.

• Continued gaps in broadband accessibility.

The Path Forward

Becoming a top-tier innovation hub could generate over $13 billion in additional GRP and $10 billion in annual earnings by 2040, according to a recent Ernst & Young analysis. These numbers aren’t just projections—they’re a call to action.

CRDA is committed to working alongside public, private, and nonprofit partners to fuel innovation across the Charleston region. This includes ongoing efforts to strengthen the talent pipeline, expand access to capital for our entrepreneurs,  and elevate Charleston’s visibility on the national stage.

Read More:

Explore the full scorecard and see where Charleston stands:
CRDA.org/CharlestonInspired