Economic Impact

Hollings’ Economic Impact on
South Carolina

MUSC Hollings Cancer Center conducted an economic impact study in 2025 to provide a comprehensive assessment of Hollings’ economic impact on the state of South Carolina. The impact of Hollings arises not only from its large workforce and ongoing operations, but also through the economic activity that emerges from the extensive supply chain network that it supports throughout the Charleston region (as well as statewide) that generates sizable economic ripple effects across many industries. These ripple effects include additional indirect job creation, which supports higher incomes for residents and a substantial increase in overall economic activity.

With South Carolina experiencing both a growing and aging population base, the demand for health care – and especially for oncology-related services – will continue to rise. As such, Hollings will play an increasingly critical role in the economic and physical health of South Carolina in the coming years.

Dr. Joey Von Nessen, a well-respected research economist in the Darla Moore School of Business at the University of South Carolina, authored the Hollings Economic Impact Study.

Key Findings

The key findings of this study are as follows:

• Total Economic Impact of Hollings Cancer Center: The combination of the direct, indirect, and induced effects leads to a total economic impact of approximately $860 million, which is associated with 4,021 jobs across South Carolina.
• Economic Contributions to State Tax Revenue: Another major impact of Hollings Cancer Center comes from the increase in state tax revenue that results from the economic activity it supports. Historically, every additional dollar that is generated in economic activity (i.e., nominal gross state product) within South Carolina also generates 4.4 cents in new state tax revenue.¹  By applying this figure to the economic activity generated by Hollings, the tax revenue from this total volume of activity can be estimated.² The annual total estimated tax revenue that arises from Hollings is approximately $17.5 million.
• Contributions to the Knowledge Economy: Hollings Cancer Center significantly impacts South Carolina’s knowledge economy by attracting highly-skilled professionals and fostering innovation in cancer research. As the state's only NCI-designated cancer center, Hollings drives economic growth, supporting thousands of high-wage jobs while positioning South Carolina as a leader in health care innovation.
• Job Quantity: Hollings’ focus on cutting-edge research & development (R&D) enhances cancer prevention and treatment, with a uniquely high employment multiplier of 2.8—creating 18 additional jobs for every 10 at its R&D facilities. This surpasses the state’s health care industry average, making Hollings’ expansion a key driver of long-term economic growth.
• Job Quality: The contribution that Hollings Cancer Center makes to high employment quality can be most easily observed by examining the wage levels among all jobs supported (both directly and indirectly) by Hollings’ R&D facilities throughout South Carolina. The average annual wage of these employees greatly exceeds that of South Carolina as a whole – by approximately 63 percent.
  
  

1. The historical relationship between South Carolina nominal gross state product and the South Carolina general funds revenue (as measured and tracked by the South Carolina Board of Economic Advisors) was estimated using industry-standard time-series regression techniques.

2. Economic output represents the value of industry production and is therefore not synonymous with gross state product. As such, the dollar value of all intermediate inputs was subtracted from economic output before the 4.4-cent estimate was applied to estimate total tax revenue.