SCRA 2013 revenues reach $266M

Staff Report
Published Feb. 5, 2014

The SCRA’s cumulative economic output to the local knowledge-based economy reached $15.3 billion in 2013, according to its annual report.

SCRA’s Technology Ventures programs made 21 investments in South Carolina-based technology startups in fiscal 2013.

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Since 2006, SCRA has helped form or land more than 280 startup enterprises in South Carolina. It has also deployed more than $69 million in company investments, innovation centers and program support to AdvanceSC, the report said.

SCRA’s core operating revenues were $243 million for the year, up 25% from 2012. The sale of SCRA’s North Charleston property to Boeing generated an additional $23 million in proceeds.

In 2013, SCRA saw record total revenues of $266 million and a record backlog of $533 million. Earnings exceeded $21 million, up 15% from 2012.

“As our revenues have grown, we have been able to increase economic output in support of our economic development mission,” according to its report.

SCRA is an applied research corporation that provides technology products to federal and corporate clients.

SCRA has three sectors: a technology ventures sector to help early-stage companies commercialize innovations and create jobs; an applied research and development sector to manage national and international programs worth over $2 billion in contract value; and a research and development facilities sector that builds and manages research facilities.

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