SCDE, USC Moore School of Business Release Landmark Report Linking Student Achievement and Economic Growth
A new report released today by the University of South Carolina’s Moore School of Business and the South Carolina Department of Education (SCDE) highlights the far-reaching benefits of rising student success, finding that stronger academic performance could expand opportunity and generate billions in economic growth over the next 35 years.
The findings provide some of the strongest evidence to date that gains in student achievement translate into long-term economic benefits for South Carolina.
The report, The Economic Impact of Improving Student Performance in South Carolina, was prepared by University of South Carolina Moore School of Business research economist Dr. Joseph Von Nessen. His analysis found that achieving South Carolina's Drive to 75 goal, ensuring at least 75% of students meet or exceed grade-level expectations by 2030, could generate up to $207.9 billion in additional statewide economic activity over the next 35 years.
State Superintendent of Education Ellen Weaver joined report author Dr. Joseph Von Nessen at Southeastern Freight Lines in Lexington to unveil the study and discuss its implications for South Carolina's workforce and economy. Southeastern Freight Lines President Tobin Cassels welcomed business leaders, Chamber executives, educators, technical college representatives, and students, underscoring the broad coalition supporting student achievement across South Carolina.
Why It Matters:
South Carolina's Drive to 75 goal reflects a shared commitment to student success across our state. Initiated by the South Carolina Department of Education and unanimously adopted by the State Board of Education and the Education Oversight Committee, the effort has been championed by educators, supported by the Governor, General Assembly and state leaders, and embraced by business leaders, higher education institutions, technical colleges, families, and community partners. Dr. Von Nessen's research provides powerful evidence that this shared commitment is paying dividends far beyond the classroom. Improving student achievement is not only an educational priority. It is an investment in South Carolina's workforce, economy, and long-term prosperity.
Key Takeaways:
✅ $207.9 billion in potential economic activity tied to achieving the Drive to 75
✅ $5.3 million in additional annual earnings generated by every one-point increase in student proficiency
✅ $11.5 billion in additional statewide economic activity annually once the full benefits of the Drive to 75 are realized
What They’re Saying:
"The Drive to 75 has always been about more than a number. It’s about ensuring every South Carolina child has the opportunity to reach their full potential. Dr. Von Nessen’s research demonstrates that when our students grow and achieve, we transform lives, strengthen our workforce, and grow our economy. The progress we’re making is the result of educators, families, policymakers, and communities united around a common goal: student success. Together, we’ll continue to focus on the fundamentals and pair high expectations with high support. This report reinforces a powerful truth: one of the best investments South Carolina can make in a strong economic future is helping our students succeed today.” – State Superintendent Ellen Weaver
"Research is most valuable when it helps us better understand the long-term consequences of the decisions we make today. What makes these findings particularly encouraging is that they show how improvements in student achievement can create measurable economic benefits for decades to come. The data suggest that sustained progress toward clear educational goals has the potential to strengthen workforce readiness, increase earnings, and support broader economic growth across South Carolina." – Dr. Joseph Von Nessen, University of South Carolina Moore School of Business research economist
"The General Assembly's job is to help create the conditions for South Carolina to thrive, not just today, but for decades to come. This report reinforces that economic growth and educational excellence are deeply connected. The stronger our schools become, the stronger our workforce becomes. That makes South Carolina more competitive, gives employers confidence to invest and grow here, and creates opportunities that encourage our most talented young people to stay, build careers, raise families, and lead in the state they call home." – Speaker of the South Carolina House of Representatives Murrell Smith
"For employers, talent is the foundation of everything. The findings in this report reinforce that the work happening in South Carolina's classrooms today will have a direct impact on our state's ability to attract investment, create jobs, and compete in an increasingly demanding economy. Just as importantly, it means more of our young people can pursue their ambitions without leaving South Carolina. That's a powerful advantage for our businesses, our communities, and our future." – Greg Thompson, President and CEO of Thompson Construction Group and Founding Board Chairman of Liberty STEAM Charter School in Sumter
Go Deeper:
The report draws on 2025 SC READY assessment results, research linking standardized test performance to adult earnings, and economic modeling to estimate the long-term impact of improved student achievement in South Carolina. The analysis examines both the impact of a one-percentage-point increase in students performing at or above grade level and the impact of achieving South Carolina's Drive to 75 goal by 2030. To read the full report click here: https://ed.sc.gov/data/research-agenda/sde-eis-summary-results-2026/
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