Grant Center for Real Estate and Economic Development
Grant Center director discusses economic impacts of Hurricane Florence on WRNN 99.5
October 6, 2018
Conway, SC – Research economist Robert F. Salvino, director of the Grant Center for Real Estate and Economics at Coastal Carolina University, was featured on WRNN 99.5’s “Morning Show with Dave and Liz” on Oct. 2, 2018, to discuss the economic impacts of Hurricane Florence on the Grand Strand.
Hurricane Florence developed in the Atlantic at the end of August and ripped through the Carolinas last month. Though the storm downgraded to tropical storm levels, it dumped vast amounts of rain on the area. Horry and Georgetown counties experienced historic levels of flooding that has affected highways, roads, homes and businesses – including Coastal Carolina University – throughout the Grand Strand.
Salvino, an associate professor of economics, discussed the storm’s immediate and long-term impacts on the local community on the show. Citing work by CCU professor Taylor Damonte, director of the Clay Brittain Jr. Center for Resort Tourism, Salvino said the hurricane, flooding and mandatory evacuation order resulted in great loss for many local businesses, including a “…65 percent decrease in the hotel occupancy rate from the previous year.”
However, Salvino remained optimistic that the impacts will only be short-term, saying businesses will reopen as soon as they are accessible. Despite the loss of revenues over the past few weeks, he believes there will not be a long-term negative impact on the local and regional economies. Full audio of Salvino’s appearance on the Morning Show can be accessed here.
Salvino will join other speakers on Oct. 24 at the Asher Theatre in Myrtle Beach for the Economic Development and Infrastructure Forum to further delve into this topic. The forum is presented by the West of the Waterway Council in partnership with the North and South Strand Councils. Attendees will learn the latest updates on road projects, air service and economic development along the Grand Strand. The forum is open to all MBACC investors. Click here to register.
ABOUT THE GRANT CENTER FOR REAL ESTATE AND ECONOMIC DEVELOPMENT
The Grant Center for Real Estate and Economic Development serves students and professionals engaged in all facets of real estate and economic development and provides market analysis, study-based scholarships, networking opportunities, internships and technical study tours of international sites.
The Grant Center leverages global ties to Coastal Carolina University and key partners, including students, alumni, faculty, staff and board members. It offers courses in commercial and investment real estate, publishes scholarly research and produces applied studies for stakeholders in the region. The Center also hosts an annual Economic Growth & Real Estate Summit, provides seminar talks on a regular basis and consults for various private, government and nonprofit groups.
The Center’s key mission is to support the education of its students to the highest levels of competence and professionalism and to broaden the economic base of the region, serving as a bridge between Coastal Carolina University and the wider community.
For more information, please contact Hattie Jordan, Program Assistant of the Grant Center, at hajordan@coastal.edu
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