Top story of 2009: The Economy

Published Thursday, December 31, 2009
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You don't have to look far in this corner of the Lowcountry to find effects of the recession.

From vacant storefronts to abandoned residential developments to big crowds at job fairs, the worst economic crisis since the Great Depression left its mark throughout the region in ways big and small.

We saw several prominent properties caught in bankruptcy.

They included the Daufuskie Island Resort & Breathe Spa, a major employer holding entitlements for more than 500 commercial and residential parcels on the sparsely developed island, and Palmetto Bluff, a 20,000-acre development that encompasses more than half the town of Bluffton.

We saw others snared in foreclosure.

They included Berkeley Place, the shopping center anchored by Sea Turtle Cinemas, and a Hilton Head Island mansion that was once appraised at $17 million but sold at auction for $6.2 million.

We even saw an unemployed Jasper County man put up a plywood sign pointing to his house off S.C. 170 and advertising his skills and willingness to work.

For those reasons and more, the news staff of The Island Packet and Beaufort Gazette voted the recession the top story of 2009.

Other ways the downturn affected people in and around Beaufort County:

• Unemployment rates rose across the state and in Beaufort and Jasper counties to levels not seen in decades.

• People who normally wouldn't need help -- construction workers, Realtors and young professionals -- came to nonprofit organizations after they suddenly found themselves with fewer hours at work or no job at all.

• Fees from new residential and commercial development dropped, leaving municipalities with less revenue to rely on to help pay for projects, like roads and fire stations.

• County officials listed a higher-than-normal total of 3,400 properties for auction at their annual delinquent property tax sale.

• Occupancy rates at area hotels dipped slightly, and many managers lowered room rates to keep travelers coming.

• Hilton Head Island paid for a tourism advertising campaign by pulling $200,000 from money set aside to market the island after a major storm.

• Resorts delayed renovations and stopped heating pools.

• Groups of executives curtailed plans for business meetings.

• Travelers booked their stays later than ever in recent memory.

• The city of Beaufort, like many municipalities, trimmed staff and outsourced some services, such as trash and recycling collection, to save money.

• Cash-strapped homeowners fell behind in fees owed to community associations.

• Once-private golf courses, such as Tradition National Golf Club in Hardeeville, opened themselves more to the public.

• The median price of homes, condos and villas sold so far in 2009 in the eight-county area that includes Beaufort fell to $274,000, down from $324,000 in 2008 and $370,000 in 2007.

• Some small businesses, such as Duke's Barbecue in Beaufort, cited the recession when they closed.

• Others, such as Steve Brown Catering and Smokey Chef Catering, merged or shared office space to stay afloat.

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