Industry Today Volume 22 Issue 4

54 BID GROUP 14 BRAND FINANCE 68 CFAN 22 CHARLESTON SCIENCE INDUSTRY VIDEO Table of harleston leads the nation for job growth in scientificR&D firms. In the past two decades, major life science firms have made the move to the Charleston region. Charleston is home to 75+ medical device and pharmaceutical manufacturers, research laboratories and service companies. Life science executives across the globe are dis- covering that theCharleston region offerswhat many other larger, oversaturated markets can- not: a lifestyle that attracts and retains top tal- ent, easy connections to life science andhealth- care executives, and business-friendly regional and state support. WhyFast-GrowingLife Science CompaniesareChoosing CharlestonSCUSA As a partner formajor organizations likeMayo Clinicand theU.S.OlympicCommittee,nutri- tional dietary supplement company, Thorne sells more products to pro sports teams than any other company of its kind. Thorne’s busi- ness is growing rapidly, so it began searching for anew location to sustain its fast growth and considered scores of cities, including Phoenix, Orlando,Austin andCharlotte. “I looked at about 100 different sites in eight different states and what sets South Carolina apart, certainly in the Charleston area, is the business environment. It’s very pro-business. It’s more than just lip service,” says Tom McKenna,COO ofThorne. In 2018, Thorne relocated its Idaho opera- tions to the Charleston region, opening a new 272,000-square-foot manufacturing and R&D facility. In addition to the region and state’s proactiveand supportivebusiness environment, Global leaders are discovering why Charleston| SC | USA is the ideal location for life science companies wanting the benefits of an untapped, up-and-coming market. INDUSTRYTODAY 23 2 2 INDUSTRYTODAY FEATURE -CHARLESTONREGIONALDEVELOPMENTALLIANCE FEATURE -CHARLESTONREGIONALDEVELOPMENTALLIANCE CHARLESTON’S RISING LIFE SCIENCE INDUSTRY FEATURE C he effect of a country’s national image on its home-grown brands and the economy as a whole is now widely acknowledged. In a global marketplace, it is one of the most important assets of any state, encouraging inward investment, adding value to exports, and attracting tourists and skilled migrants. For the past 15 years, the Brand Finance NationBrands report has provided key bench- marks for diplomats, tourism boards, trade agencies, nation brand consultants andmanag- ers.The studyanalyses thebenefits thata strong nationbrand can confer,but also the economic damage that can be wrought by global events and poornation brandmanagement. BrandFinanceNationBrands In this year’s study, released in October 2019, we have observed the nation brands of devel- oping economies are growing 30 times faster thandevelopedones.Theaverageyear-on-year nationbrand value growth among thedevelop- ing economies stands at13.9%, compared to as little as 0.4% for the developed economies. Nationbrandvaluesofmostdevelopedecono- mieshave contractedor stagnatedyearonyear. Japan is a notable exceptionwith 26% growth, but even so – it is only the 15th fastest-growing nation brand this year, behind many devel- oping African, Middle Eastern, Asian, and Latin American nation brands. Consistently with previous years’ trends, 11 out of the 20 fastest-growing nation brands of 2019 come David Haigh, CEO of Brand Finance, discusses the importance of strong nation brand management for diplomacy and corporates alike. T INDUSTRYTODAY 15 FEATURE -BRANDFINANCE 14 INDUSTRYTODAY FEATURE -BRANDFINANCE FEATURE THE POWER OF NATION BRANDING 2 INDUSTRY TODAY VIDEO