In 2026, South Carolina’s economic momentum has slowed. Despite low unemployment, positive growth in most industrial sectors, and a record high stock market, new economic headwinds have emerged that threaten to stall the Palmetto State’s economic growth heading into 2027. The biggest of these headwinds is a major increase in energy prices, which has caused inflation to rebound. Prices are currently rising faster than wages, eroding the purchasing power of consumers and compounding the affordability challenges already facing South Carolinians – from gas and groceries to housing prices.

South Carolina’s economy continues to be one of the fastest growing in the nation, and is currently ranked 1^st in population growth. Yet persistently high inflation could significantly weigh on consumer spending and slow business investment, potentially leading to a period of stagflation in 2027 – a stagnant economy that also suffers from high inflation. Persistently high inflation also makes it more likely that the Federal Reserve will either keep interest rates elevated or engage in rate hikes, further curtailing economic momentum. Any significant reduction in consumer spending, especially if coupled with a significant pullback in the stock market or AI-driven layoffs, could increase the likelihood of recession next year.

The Economic Outlook Conference will address these concerns and tackle the important questions at the top of everyone’s minds:

• How long will inflation remain elevated? Can consumer spending continue at current levels despite high prices?
• Will the Federal Reserve increase interest rates? And if so, by how much?
• Can today’s record high stock market continue its run?
• Is stagflation inevitable in 2027, or could South Carolina’s economy re-accelerate next year?
• How much would South Carolina’s strong population growth insulate it from a national economic slowdown?
• What economic indicators are the most important for businesses to be watching heading into 2027?

The event will be interactive and will include several opportunities for Q&A.

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2026 Speakers

• Buddy Rizer, Executive Director, Loudoun County Economic Development
• Joseph Von Nessen, Ph.D., Research Economist, Darla Moore School of Business
• Will Williams, President & CEO, Western SC Economic Development Partnership
• Douglas Woodward, Ph.D., Professor of Economics, Darla Moore School of Business
• Jonathan Yarborough, Vice President of State Policy, Dominion Energy

Speaker Bios (check back for updates)

Expand allJoseph Von Nessen, Ph.D.

Research Economist, University of South Carolina Darla Moore School of Business

Joseph C. Von Nessen, ’09 Ph.D. economics, is a research economist in the Division of Research at the Darla Moore School of Business where he specializes in regional economics, regional economic forecasting and housing economics. He regularly conducts a wide variety of economic impact analyses, feasibility studies and independent market research projects for clients in both the private and public sector.

Von Nessen engages in industry-level and regional economic forecasting for organizations at the state, national and international level. He has served as lead researcher on projects with clients as diverse as Sonoco, BlueCross BlueShield, Michelin, Boeing and the Savannah River National Lab, among others. He has also been the recipient of many grants from both local and national sources, including the U.S. Department of Energy and the U.S. Department of Defense.

Von Nessen is also responsible for the preparation and presentation of the University of South Carolina's annual statewide economic forecast. He serves on the advisory committee of the South Carolina Board of Economic Advisors and is regularly invited to brief the Federal Reserve Bank of Richmond on economic conditions in South Carolina. He frequently appears on programs at national conventions, including the International Builders Show, the 21st Century Building Expo and the North American Regional Science Council and its subsidiaries.

In addition, Von Nessen specializes in housing economics and residential real estate and provides economic and marketing research and consulting services to builders, developers and other businesses in the housing industry on a regular basis. His recent academic research has focused on the application of hedonic house price modeling to the housing industry. He is a member of the National Association of Home Builders and is actively involved with the local branches of the Home Builders Association and the Association of REALTORS throughout South Carolina.

Von Nessen is a frequent speaker for business and government leaders throughout the southeast, providing information and consultation about business, housing markets and local economies. He also makes frequent media appearances to discuss various local economic topics of interest.

 

Douglas Woodward, Ph.D.

Division of Research Director and Professor of Economics, University of South Carolina Darla Moore School of Business

Woodward earned his Ph.D. at the University of Texas at Austin in 1986. He joined the University of South Carolina faculty in 1987.

Woodward’s primary research interests are regional economics, firm location, urban and industrial clustering, and foreign direct investment. He is co-author of a book on foreign direct investment in the United States, “The New Competitors,” ranked as one of the “top ten business and economics books” by Business Week and listed by Fortune as one of the books “CEOs are reading." He has published widely in academic journals, including the Journal of Urban Economics, the Journal of Regional Science, Regional Science and Urban Economics, the Journal of Economic Geography, and the Review of Economics and Statistics.

His recently published papers have investigated local area labor matching and knowledge spillovers. Woodward also has ongoing research comparing regional economic cluster development across the world. He has ongoing research investigating foreign investment and economic development in Africa.

Over his career, Woodward has received numerous grants from the National Science Foundation, the U.S. Department of Education and many other funding agencies. He has testified before local, state and national government committees and has presented his research at many conferences around the world, including the World Economic Forum in Davos, Switzerland. He has often appeared in the media discussing economic development and related topics.

Woodward served as the 2013 president of the North American Regional Science Council. He is an associate editor of the Journal of Regional Science and the Review of Regional Studies. From 2010 to 2011, he was president of the Southern Regional Science Association and was honored to be named as a fellow of the association in 2016.

Be an EOC Sponsor!

Contact M. Kendrick Reed to learn more and reserve your organization’s sponsorship:
kendrick.reed@moore.sc.edu
803-576-8022