June 24, 2016 UBJ

JUNE 24, 2016 | VOL. 5 ISSUE 26

THE FINANCE ISSUE

TINY LOANS, BIG DIVIDENDS

Groups like Nasha Lending and CommunityWorks have helped entrepreneurs like James Bennett realize huge dreams with microloans PLUS How local banks are reaching out to millennials

Greenville Heritage Federal Credit Union celebrates 75-year milestone

Getting started in angel investing

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INFORMATION YOU WANT TO KNOW

| INVESTING | 3

This building and land in Florida were acquired by Sandlapper Capital with the intent to resell it to 1031 investors. The building's tenant is a roofing company.

Sandlapper Securities launches new venture DAVID DYKES | STAFF

ddykes@communityjournals.com Greenville-based Sandlapper Securities LLC has launched a new venture, 1031 Replacement Property Solutions, and its website 1031RPS.com, as an online marketplace for investors to access available securitized 1031 replacement property options, primarily for use when executing a 1031 tax-deferred exchange.

An Internal Revenue Code §1031 exchange allows an investor of real property to defer any gains (or carry forward any losses), as well as any recapture of previous depreciation deductions when they dispose of such assets. The proceeds must be used to acquire new “like-kind” real property assets within a specific period of time and under certain conditions.

The exchange has long been a tool for real estate

and real property investors and business owners.

“When you consider how quickly 40-plus percent of any gains can be eroded when selling an asset through the payment of federal and state taxes and depreciation recapture, having the ability to ‘defer’ those obligations with a 1031 exchange becomes a monumental tool for investors to maximize and redeploy monies into new investments,” said Sandlapper founder and CEO Trevor L. Gordon.

One of the major challenges of the 1031 exchange is the limited time in which “exchangers” need to find and acquire suitable replacements.

1031RPS provides exchangers access to real property solutions that are available and suitable for immediate identification in an exchange and immediate investment by accredited investors. Only those replacement property offerings that have gone

through Sandlapper’s internal quantitative and qualitative due diligence processes will be listed on the site, company officials said.

“We continue to see an increased need for replacement property choices, so this site was developed to provide access to a greater inventory of immediate opportunities and a vehicle to deliver property and offering-specific research and disclosure,” Gordon said.

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TOP-OF-MIND AND IN THE MIX THIS WEEK

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06.24.2016

VOLUME 5, ISSUE 26 Featured this issue: Retail: Lululemon coming to downtown Greenville .......... 6 Recap: Greenville Planning Commission June meeting .......... 23 Dealmakers: The month’s major CRE transactions ............. 25

A pneumatic “exoskeleton” worn like a backpack supports a BMW employee’s arms and back as he bolts underbody panels and heat shields on vehicles in the automaker’s Spartanburg County plant. BMW led a group of more than 20 journalists from Europe, Central and South America and the Upstate on a tour of the plant last week, as a prelude to the groundbreaking for its new $1 billion facility in San Luis Potosí, Mexico. Read more on page 11.

Photo by Will Crooks

WORTH REPEATING

TBA

“Munich is far away. It’s only logical that we would rely on the next closest plant, which is in Spartanburg.”

A Vermont-based family-friendly bowling alley, arcade and birthday party venue may be coming soon to Greenville on Congaree Road, across from Dick Smith Mitsubishi.

Page 11

“You have to rely on your faith … that this is what God has in store for you, holding on until it comes to fruition.”

Page 18

“A part of me wants to gag and roll my eyes a little when I hear the phrase ‘personal branding.’”

Page 26

VERBATIM

On choosing investments wisely “Investing should be more like watching paint dry or watching grass grow.

If you want excitement, take $800 and go to Las Vegas.”

Paul Samuelson, Nobel Prizewinning economist, considered “the father of modern economics.”

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06.24.2016

Lululemon, Happy + Hale plan Main Street store in Greenville SHERRY JACKSON | STAFF

600 Main St. under construction.

sjackson@communityjournals.com National athletic apparel company lululemon athletica and Raleigh-Durham, N.C.-based restaurant Happy + Hale are both planning to open in storefront space along Main Street in Greenville’s West End this fall.

The popular clothing company will occupy 3,000 square feet of ground floor retail space at 600 S. Main St. in the new mixed-use project, Falls Park Place. The six-story project is located at the corner of Falls Park Drive and Main Street directly across from Falls Park and next door to the Subway restaurant.

Happy + Hale, which offers signature salads, bowls, wraps, made-to-order smoothies and fresh-pressed juice, will open in a 3,000-square-foot space adjacent to lululemon.

“We felt that Greenville was a perfect fit for our concept,” said co-founder Tyler Helikson. “There’s a lot of great energy and movement in downtown Greenville.”

Helikson and co-founder Matt Whitley are both brand ambassadors for lululemon in the Raleigh area. When they heard lululemon was opening a

storefront on Main Street, it was a great opportunity to open Happy + Hale next to a “like-minded” brand, said Helikson.

The décor of Happy + Hale will be clean, fresh and modern, yet warm, said Helikson. The restaurant will be similar to other fast-casual concepts such as Chipotle where items such as salads can be customized.

Falls Park Place is slated to have 12,000 square feet of Class A office space on two of the floors, a 5,300 square foot restaurant space with a wraparound terrace on the second floor, a rooftop terrace with a swimming pool and six high-end residential units. lululemon currently has a showroom at 101 Falls Park Drive. That location will close once the full-size store is opened, said a company spokesperson.

As the opening date gets closer, lululemon will post status updates on the progress on its local Facebook page, facebook.com/lululemongreenville.

For more information on Happy + Hale, visit happyandhale.com or follow the Twitter account @happyandhale.

The interior of the Durham, NC Happy + Hale restaurant.

Preliminary renderings of the future Happy + Hale restaurant.

Rendering by Raleigh Architecture Company

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upstatebusinessjournal.com

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upstatebusinessjournal.com

Caviar & Bananas sets Aug. 5 opening SHERRY JACKSON | STAFF

sjackson@communityjournals.com Caviar & Bananas, a gourmet market and café currently under construction on Laurens Street at ONE City Plaza next to the Aloft Hotel, announced this week it will be opening on Aug. 5.

The 4,700-square-foot space will have an outdoor seating area and will be open seven days a week for breakfast, lunch, dinner and weekend brunch. This is the first Caviar & Bananas location that co-founders and owners Kris and Margaret Furniss will open outside of the Charleston market.

Similar to the Charleston stores, Caviar & Bananas Greenville will offer a selection of prepared and packaged goods, made-to-order salads and sandwiches, an espresso and tea bar, artisan pastries and baked goods, boutique wines and craft beers, a charcuterie and cheese counter and gourmet gift baskets.

The store will also offer delivery.

Caviar & Bananas Greenville will also include a wine bar that features a selection of wines and a menu of small plate offerings that will be available during the afternoon and evening hours. This fall, Caviar & Bananas will launch their gourmetto-go catering menu, which will be available for home or office delivery

INFORMATION YOU WANT TO KNOW

Greenville planning and development manager leaving for Minnesota SHERRY JACKSON | STAFF

as well as in-store pick up. The menu will offer a selection of signature hors d’oeuvres, entrees and sides for simple yet sophisticated weeknight dinners, office lunches or special occasions.

The inspiration for the design of Caviar & Bananas Greenville comes from the store’s name itself, say the owners. “Caviar” symbolizes something special, upscale and occasional, while “Bananas” symbolizes simplicity, warmth and the everyday. The material palette echoes this contrast, mixing tile, wood, steel, stone, concrete and stainless steel. The layout of the space weaves visitors through distinct “moments,” including dining areas, retail displays and areas for mingling.

Overall, the design is intended to create an uplifting space where the community comes together to access and enjoy outstanding food, beverages and service, the owners say.

In addition to the Greenville store, Caviar & Bananas plans to open a Nashville location in 2017.

For more information, visit caviarandbananas.com or follow Caviar & Bananas on Facebook, Instagram and Twitter.

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sjackson@communityjournals.com Michael Kerski, the city of Greenville’s planning and development manager, is leaving and moving to Minnesota.

Kerski spent his 7 ½-year tenure at the city first as the economic development manager for four years and then planning and development manager for the past 3 ½ years. His last day is scheduled for July 8.

He has accepted a position beginning July 25 in Shakopee, part of the Minneapolis-Saint Paul metropolitan area, as a planning and development director overseeing planning, engineering and building codes. He will receive $117,649 annually, according to the Shakopee Valley News.

“It’s a great career opportunity,” said Kerski. He added that he has enjoyed working with a great staff. Two accomplishments he is proud of include

working with the neighborhood and development community on infill standards and, during his time as economic development manager, bringing Proterra to Michael Kerski Greenville.

N a n c y Whitworth, deputy city manager economic development, told UBJ the city is already advertising for a new planning manager, has a talented planning staff in place and will take the time to find “the right person with the right skillset.”

“Michael has done a good job and we wish him well,” she said. “Greenville is an attractive place with a lot going on, and it will be a good opportunity for someone to come in and get into the thick of things.”

The Konduros family is following in their father’s footsteps by using a Donor Advised Fund at the Community Foundation to support charities that align with their passions.

Rendering by Powell Architects

864-233-5925 • www.cfgreenville.org

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BMW gives journalists an inside look at Spartanburg plant TREVOR ANDERSON | STAFF

tanderson@communityjournals.com BMW’s future growth in North America started at the front door of its largest manufacturing plant in the world last Wednesday.

The German automaker led a group of more than 20 journalists from Europe, Central and South America and the Upstate on a tour of its Spartanburg County plant.

Company officials showed off a range of new technologies used in the plant’s production and touted the facility’s importance in its global chain as part of the build up for the groundbreaking last week of its new $1 billion plant in San Luis Potosí, Mexico.

“What better way to demonstrate the impact of what we anticipate [to see in Mexico] than to show what we’ve accomplished in Spartanburg?” said Kenn Sparks, a spokesman for BMW of North America. “There were some who questioned BMW’s decision to build its first plant outside of Bavaria in the Upstate. I think that decision has been validated.”

A new line of “collaborative” robots

worked alongside BMW associates who were assembling doors in the plant’s Assembly North facility — the birthplace of its popular X3 and new X4.

“Autonomous,” or driverless, materials-handling vehicles fueled by hydrogen delivered parts to specific locations on the assembly line.

A pneumatic “exoskeleton” worn like a backpack supported one employee’s arms and back as he bolted underbody panels and heat shields on vehicles as they rolled down the line above his head. A full-body version could be implemented soon.

Frank Pochiro, assembly planner for BMW Manufacturing Co., said several technologies are being tested throughout the 5.6 million-square-foot plant.

“I see endless potential for helping with employee fatigue,” said Richard Morris, vice president of project integration for BMW Manufacturing Co. “I would expect to see this technology used at other facilities, including Mexico.”

After the plant tour, the group of journalists took a flight out of Greenville-Spartanburg International Airport directly to San Luis Potosí, where they

photo Will Crooks / Staff

heard presentations from Mexican automotive industry officials.

The group included Fausto Cuevas, director of the Asociación Mexicana de la Industria Automotriz (AMIA); Gustavo Puente, secretary of economic development for San Luis Potosí; and Armando Cortés, coordinator of automotive and auto parts for ProMéxico.

Cuevas said Mexico is the fourth largest exporter of automobiles in the world behind Germany, Japan and the United States. The automotive industry accounts for more than 14 percent of jobs in Mexico’s manufacturing sector.

Companies including Ford, GM, Kia, Honda, Mazda, Volkswagen, Nissan-Daimler, Audi and others have manufacturing plants in Mexico. BMW will soon join that list.

Cortés said 7 percent of the world’s vehicle production, or 3.58 million units, comes from Mexico.

Puente said he anticipates that figure will grow to more than 5 million by 2020. And, by 2022, BMW’s presence along with its suppliers will help create up to 50,000 jobs in the state of San Luis Potosí.

The biggest challenge, Puente said, will be training and retaining talent.

He said the main metro area of San Luis Potosí boasts 60 colleges and technical schools. The state has 107, and each one will be a partner in helping to develop the area’s workforce.

Cuevas said he believes landing a luxury automaker like BMW will help raise median incomes and increase opportunities for residents of the state. “[Automotive manufacturing] is the main industry in Mexico,” Cuevas said.

“The premium product that BMW will produce will have a massive impact. It changed the society in Spartanburg. I expect to see the same here.”

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| MANUFACTURING | 11

BMW breaks ground on new plant in Mexico TREVOR ANDERSON | STAFF

tanderson@communityjournals.com BMW’s Spartanburg County plant will play a key role in helping to establish the Germany-based automaker’s second plant in North America.

BMW Group and Mexican officials broke ground Thursday, June 16, at the site of the company’s new $1 billion manufacturing plant in San Luis Potosí about 250 miles north of its national headquarters in Mexico City.

The plant, which is anticipated to begin production in 2019, will produce BMW’s popular 3 Series sedan, create jobs for 1,500 people and manufacture about 150,000 vehicles per year.

Oliver Zipse, BMW Group’s board of management member for production, said the plant in Mexico will not compete with, but complement the Spartanburg plant, meaning it will not pull jobs away from the Upstate in favor of cheaper labor in Mexico.

And some employees of the Mexico plant will be trained in Spartanburg during the next three years.

“The X models produced in Spartanburg are in very high demand,” Zipse said. “The [types of vehicles] that will be made in Mexico are completely different, but are also in high demand, especially in the U.S. I would be very relaxed about [the possibility of American jobs going to Mexico].”

Hermann Bohrer, head of the BMW plant San Luis Potosí, said many of the technologies and production processes that will be employed at his facility are already being put into practice in Spartanburg.

“Munich is far away,” Bohrer said.

“It’s only logical that we would rely on the next closest plant, which is in Spartanburg.”

Like its North American big brother, the plant in Mexico will be a full assembly plant with a paint shop and body shop.

The automaker said the plant will be state-of-the-art, powered by renewable energy from solar and wind power, and consuming the least amount of water per vehicle in its production network.

It will boast the first paint shop with zero process wastewater, and it will recycle and reuse sanitary wastewater, the company said.

The plant will have rail access and its vehicles will be shipped worldwide.

BMW is exploring shipping options via ports on both the east and west coasts of Mexico.

“The direct impact on our country will be huge,” said Juan Manuel Carreras-López, governor of San Luis Potosí.

BMW hopes to have 150 employees hired for the plant by September and 90 apprentices by the end of the year.

The company said about 500 of the plant’s 1,500 employees will receive their training in Munich. The rest will be trained in Spartanburg.

“A whole process starts when BMW decides to build a plant,” said Glenn Schmidt, head of government and external affairs for BMW’s Americas region. “Spartanburg is a role model for this plant in Mexico. Both are a part of a larger strategy for the NAFTA region ... There is tremendous potential here.”

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06.24.2016

Got a big small-business idea?

A microloan might be the answer MELINDA YOUNG | CONTRIBUTOR

myoung@communityjournals.com

Small businesses that have difficulty obtaining a bank loan or entrepreneurs with an idea that just needs a little funding might find help with a microloan — a short-term, very small (averaging $13,000) loan at a low interest rate, generally between 8 and 13 percent.

In the Upstate, there are a variety of resources for small businesses, but two organizations, Nasha Lending and Community Works, make microloans to small businesses and entrepreneurs. Upstate Business Journal asked them to describe what they do.

COMMUNITYWORKS Deborah McKetty, founder, president and CEO When did your organization begin?

We opened our doors in 2008 as a housing trust fund and have since evolved into a nonprofit Community Development Financial Institution (CDFI), committed to building a brighter future for under-

served families and communities through financial education, lending and investing.

CW launched the microbusiness loan program in 2012 in response to an identified need that highlighted a significant gap in financing for underserved entrepreneurs and microbusiness owners.

As a certified CDFI, CommunityWorks is a specialized financial institution that works in markets that are underserved by traditional financial institutions. We are focused on community development activities that rebuild distressed and neglected communities through a variety of lending, investment, social support and educational activities.

We provide a unique range of financial products and services in economically distressed target markets, such as microbusiness financing for low-income entrepreneurs and businesses owned by entrepreneurs of color, financing for affordable housing developers, organizations working to construct and preserve community facilities in neighborhoods targeted for redevelopment, flexible underwriting and technical assistance for entrepreneurs looking to build their business skills.

What are your total loans?

Who do you fund?

Since 2012, CW has closed 100 loans to local businesses, totaling $1.9 million. Our typical microbusiness borrower is an African-American owner with an average personal income of $35,000, or 60 percent area median income. Our total portfolio is representative of our target market: 61 percent are African-American, 32 percent are white, 5 percent are Hispanic/Latino and 2 percent are multiethnic. Over 60 percent of African-American borrowers are female.

What type of microloans do you make?

Deborah McKetty, founder, president and CEO of CommunityWorks

In 2015, our average microloan amount was $18,870 ‌ We made 39 loans totaling $735,963 in 2015. More than 70 percent of our businesses are owned by minorities, and 60 percent are owned by women. We lend to a variety of businesses. We have funded salons, cross-fit gyms, home health care providers, restaurants, chiropractors and even a chocolatier, just to name a few.

We specialize in providing business financing to business owners who are underserved and may not qualify for a business loan from traditional lenders due to just getting started, credit challenges or simply

not needing as much as the minimum that larger institutions can lend. Larger banks and financial institutions will not typically provide loans for less than $200,000 because these loans are not profitable. CW lends up to $50,000.

What percentage of money lent has been repaid?

Ninety-three percent of the portfolio is making payments towards their loan.

Why is this important for the Upstate business community?

We receive more than 20 calls a week from entrepreneurs seeking financing through loan or startup equity through our microbusiness IDA program.

Microbusinesses, or entrepreneurs with fewer than five employees, are crucial for developing a vibrant and balanced economy in the Upstate. We have found that there continues to be a lack of access to safe, affordable loan capital for microbusinesses in the Upstate.

During their review of states, the Corporation for Enterprise Development continued to rank South Carolina as one of the worst states for small business development and job creation. Minority, female and low-wealth businesses are particularly threatened by these factors. Not only do minorities in South Carolina own businesses at a lower rate than in 36 other states, but the value of minority-owned businesses is far less than those owned by whites. Additionally, gender disparity in South Carolina is among the worst in the Southeast, with men owning businesses at a rate 1.4 times higher than women.

Women- and minority-owned businesses in South Carolina are least able to access capital to start business or to have adequate capital to grow. Typically these entrepreneurs have little or no collateral and do not qualify for loans from traditional financial institutions due to poor credit, stricter underwriting guidelines and smaller loan requests than larger banks typically fund.

For more information, visit communityworkscarolina.org

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FOCUS ON FINANCE

NASHA LENDING Taylor Beard, director When did your organization begin?

Nasha Lending made its first loan in 2009 through Grace Church. We became a separate 501(c)(3) nonprofit under the auspices of Mill Community Ministries in 2014.

What type of microloans do you make?

Nasha Lending makes loans up to $5,000 to entrepreneurs for the use of purchasing business-critical supplies (e.g., an industrial mixer for a baker). We are looking for under-resourced entrepreneurs who cannot get a loan from a typical lending institution.Â

What are your total loans?

We have loaned $40,125 since 2009.

What percentage of money lent has been repaid?

Fifty-two percent of the money has been repaid.

Why is this important for the Upstate business community?

Microloans and business training provide opportunities for individuals to start businesses and contribute to the greater economy. Microloans, in particular, are a way for entrepreneurs to explore a business idea without becoming over-indebted and build their business slowly from the ground up. They provide new opportunities for people without a strong financial background to build a track record of wise financial management, which is particularly useful when applying for larger loans, especially from banks.

Microloans coupled with business and financial training address three critical needs of entrepreneurs in our community: lack of startup capital, lack of relationships with subject matter experts and lack of knowledge in critical areas (financial, legal, etc.).

The Upstate business community has an expansive network of talented people with exciting ideas. Our goal at Nasha Lending is to connect entrepreneurs with the knowledge and people who can make their businesses successful.

Is there anything else about your organization that you would like to say?

There are several quality lending and entrepreneurial institutions in the Upstate. We are fortunate to live in a community that is supportive of businesses and excited by new ideas. Nasha Lending is unique, because we seek to bridge the gap between the mainstream business sector and our local community entrepreneurs.

We provide microloans and business training, yes, but we also bring in speakers to our classes, and each week we eat dinner together. These meals, though simple, are a way for our clients to connect to one another, share ideas, give feedback and build valuable relationships for the present and future. With our speakers, they have an opportunity to speak with entrepreneurs who have been in their shoes and know the unique challenges of starting and running a business.

It's the relationships that make the difference in business.

No entrepreneur succeeds on his or her own, and we hope to be a small part of the story for many of the Upstate's local entrepreneurs.

For more information, visit nashalending.com

Taylor Beard, director of Nasha Lending

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$5,000 and a dream Nasha Lending’s microloans curate local entrepreneurship ANDREW MOORE | STAFF

amoore@communityjournals.com The 2008 financial crisis left the U.S.

Since then, the nonprofit has issued loans to 11 entrepreneurs.

The no-interest loans are paid off in one to three years, according to Beard. Nasha Lending lowers the payments to ensure repayment if entrepreneurs struggle to pay off the loan. The loan is written off if the business fails. If repaid, the funds are re-loaned to another entrepreneur.

economy stunned. Banks had issued too much money too fast, which created increased housing prices and financial speculation. That ultimately led to a decline in lending from financial institutions.

Small businesses were greatly affected, as they CURATING ENTREPRENEURSHIP rely on access to credit and depository institutions Beard joined Nasha Lending in 2011. She had just for financial needs. In fact, small business loans graduated from Furman University and had an decreased from $659 billion in 2008 to $543 billion interest in human rights and social justice. In addiin 2011, according to the Small Business Administion to overseeing the microloan program, Beard tration. decided to plan for the future of Greenville.

In 2009, Greenville’s Grace Church decided to change that. It started Nasha Lending, a nonprofit that collects funds from investors and issues those funds as microloans up to $5,000 to under-resourced entrepreneurs.

“Microloans are so important, because they provide the startup capital that some businesses need,” said Nasha Lending director Taylor Beard. “They also help reach populations that are excluded from mainstream financial sectors, which can also help the community. The typical client is a woman with a family. Most are community-minded and want to help other families. So these loans have a trickle-down effect of sorts.”

The name derives from the Hebrew word “nasha,” which means, “to lend.”

Entrepreneurs must complete an online application, create an action plan and participate in a 10-week business class. The nonprofit selects entrepreneurs based on their business model, personality and the amount of funds needed.

“We’re really building a relationship with the entrepreneurs,” said Beard.

“So you’ve got to be good for us, too. A good personality is a huge aspect of the vetting process. They should be full of that entrepreneurial spirit.”

In 2010, the nonprofit issued its first loan of $1,800 to Banana Manna, a Greenville-based banana bread business. The business purchased nutritional information and pricing labels.

“Nasha is saving grace,” said owner Chancey Lindsey-Park. “I’m talking to Whole Foods about carrying my bread, and that loan is going to save me a lot of money if it happens.”

Nasha Lending partnered with Kiva Zip in 2012. The crowd-funding platform hosts about 1.3 million lenders. Taylor Beard, director of Nasha Lending

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She established a 10-week project-based learning class, held from June 1 to August 12, to teach entrepreneurial skills and business basics to local students.

The first class consisted of four students who started their own businesses.

In 2012, Beard reached out to Mill Village Farms in the Village of West Greenville. The farm had just started its youth development program for at-risk youth. Beard assembled a group of nine students and had them start a business using produce from the farm. The students worked at the farm four days week and learned business basics once a week.

“We know all of our students might not want to be entrepreneurs,” Beard said. “But we want them to be able to think like entrepreneurs, because we know those skills last for the rest of their lives.”

In 2014, the class was restructured as Nasha Lending joined an outreach program in the Village of West Greenville — Mill Community Ministries.

The program, an affiliate of Grace Church, also includes Mill Village Farms and The Village Wrench.

“We always had the idea that Nasha would outgrow the walls of Grace Church. It really served as an incubator for both the program and myself. It offered that safe place to grow, somewhere we didn’t have to launch on our own without a plan,” Beard said.

The transition attracted more students to the class and a new project-based curriculum. Now, students develop joint products with local businesses that act as mentors. Past mentors include Banana Manna, Swift Prints and The Village Wrench.

LEARNING THE ROPES

In April, Beard decided it was time to help aspiring adult entrepreneurs learn the ins and outs of the business world. She started the Business Entrepreneur Academy, which quickly attracted 10 Greenville-based entrepreneurs, both new and seasoned.

The program, which is held from April 18 to June 27, uses a curriculum founded by LAUNCH, an entrepreneurial advocacy organization in Chattanooga, Tenn. It features lessons about business models, customer service, marketing, budgets and more.

“This class has been so helpful, especially the lessons about marketing.

I didn’t do so well with that before,” said Julie Maddox, owner of Benji Bars.

“I learned that it’s not about taking a leap into the unknown. It’s about understanding how to present your product to the customers in a way that’s unique and efficient.”

In addition to its educational value, the program allows Beard to determine if an entrepreneur has enough of an education and business plan to receive

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a microloan. The nonprofit previously used a selection committee to determine the issuance of loans.

The classes are held at Textile Hall, a shared workspace that has become a hub for local entrepreneurs. Beard and her colleagues from Mill Community Ministries began planning the building at 582 Perry Ave. in the Village of West Greenville in 2012. It opened in April.

“It’s a space meant to hold individual businesses, but we wanted a place where entrepreneurs could connect and help one another. Those connections just don’t happen unless entrepreneurs are in close proximity to one another,” Beard said.

Textile Hall also houses Nasha Lending’s other programs. The nonprofit offers a “faith and finances” class in the fall that explores God’s role in financial decisions. It also offers a “lunch and learn” session that features

a local entrepreneur who shares business advice.

The next lunch and learn, which is free and open to the public, is on June 28. It will feature Andrew Smart of Duke’s Manufacturing in Easley.

Nasha Lending plans to close the summer with its annual shark tank competition at the Phillis Wheatley Community Center on July 21. Local entrepreneurs pitch their businesses to a panel of judges, and the winner is awarded a cash prize.

The competition started last year.

Greenville resident Willie Benjamin was awarded $1,000 for his printing and embroidery concept, Benji’s Prints.

“All of our programs build a solid foundation for aspiring entrepreneurs,” said Beard. “We want to be the place that launches people into entrepreneurship.”

FOCUS ON FINANCE

| COVER | 15

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16 | MILESTONE |

UBJ

A TRIBUTE TO OUR LONG-LASTING ENTERPRISES

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06.24.2016

Community assets For 75 years, Greenville Heritage Federal Credit Union has grown along with Greenville SCOTT PFEIFFER | CONTRIBUTOR

On March 29, 1941, seven employees of the City of Greenville pooled their savings and formed one of the first federal credit unions in the Upstate.

The Greenville City Employees Federal Credit Union was chartered under the relatively new Federal Credit Union Act of 1934, a vital piece of New Deal legislation aimed at helping ordinary people improve their lives by combining their savings and making loans to neighbors and co-workers. Today, Greenville Heritage Federal Credit Union has more than 12,000 members and continues the work its founders began 75 years ago.

Credit unions differ from banks in important ways.

Forming a bank requires a significant fund of capital, raised from investors. In the 1930s, such capital was scarce, and banks were failing. Credit unions have no shareholders and require no starting capital; they are financial cooperatives of the depositors themselves. Banks are for-profit institutions, operated for the benefit of their shareholders. Credit unions are

nonprofit associations, operated for the benefit of their depositors. Banks, historically, focus on delivering profitable services to the wealthy and to businesses. Credit unions are focused more on the common worker.

FROM DEPRESSION TO WWII TO COLD WAR

South Carolina was no exception to the struggles of the Depression. Four Greenville banks had closed their doors between 1926 and 1931. By 1941, however, South Carolina was beginning to recover as a result of successful New Deal programs that were putting people to work.

Only nine months after the city employees chartered their credit union, the Empire of Japan bombed Pearl Harbor and the United States entered World War II. The war increased demand for cotton and textiles, and South Carolina’s economy boomed. By the end of the 1940s, the credit union had expanded from the original seven depositors to 271.

The city, and the credit union, continued to grow through the Cold War era. In the early 1970s, B.F. Dillard, one of the original seven founders who had managed the credit union part-time while remaining a city employee, retired. The credit union’s first full-time manager, Mildred Julian, replaced him.

Julian managed the credit union for the nearly 20 years. During that time, the credit union grew to over 2,000 members.

A MERGER TO SERVE BOTH CITY AND COUNTY

From its inception in 1941 until the mid-'90s, the credit union was located in City Hall and primarily served city workers. In the mid-'90s, the Greenville, S.C. City Employees Federal Credit Union merged with the Greenville County Federal Credit Union and began to serve both city and county employees.

The credit union left City Hall and opened offices on Reedy View Drive and at County Square. The core membership remained the city and county

75 years with Greenville Heritage Federal Credit Union

March 29, 1941

Greenville City Employees Federal Credit Union chartered. Nine months later Japanese bomb Pearl Harbor; USA enters World War II.

1970s

Credit union reaches 1,000 members and $1 million in assets and hires its first fulltime manager, Mildred Julian.

1981

Credit union expands its membership beyond city employees.

1980s

Credit union exceeds 2,000 members and $5 million in assets and hires its second fulltime manager, Judith Raines

1994

Credit union leaves its original offices in City Hall and opens a new office at 75 Reedy View Drive.

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A TRIBUTE TO OUR LONG-LASTING ENTERPRISES

W.D. Ables (left) makes a presentation to B.F. Dillard, one of the credit union organizers

GHFCU’s former Reedy View Drive location

Mildred Julian, the credit union’s first full-time manager, handles some housekeeping.

The credit union’s original 1941 charter

administrative workers, police officers, firefighters and sanitation workers that were the backbone of the community.

The credit union changed again in 2002. Taking advantage of new laws that expanded the availability of credit union membership, the credit union changed from a “Select Employee Group,” serving only employees of Greenville City and County, to a “Community Charter,” open to serving all citizens who live, work or worship in Greenville County.

Alan Berry, the current president, was hired in 2007 — only the third full-time manager of the credit union in its 75 years. Under his leadership, the credit union has grown from just over 7,000 members to nearly 13,000, has moved its headquarters into the beautifully restored old Employment Security Commission building from 1951 on Washington Street, and operates four branches.

The credit union continues to serve the original mission of its founders, however, “the core of our

1996

Merges with Greenville County FCU, The combined credit union ended 1996 with 3,685 members and nearly $12 million in assets.

The Board of Directors in 2002

customers remain those police officers, municipal workers and firefighters that the City and County Credit Unions served originally,” said Berry.

GIVING BACK

Along with being a cooperative association of members comes an obligation of service. Berry takes this obligation seriously.

“There is a significant service element to what we do,” Berry said. As a nonprofit, the credit union can offer members better loan and interest rates. “No bank can touch us” on interest rates, said Berry.

The credit union offers free financial education to members. “We don’t just make a credit decision on your credit score, and if that score is below 660, too bad. We take the time to educate our members about the need for good credit, the difficulties of bad credit and, more importantly, how to improve their credit score,” Berry said.

The credit union also takes seriously its responsibility to give back to Greenville, its home. Greenville

2001-2002 2007

Changes name to Greenville Heritage FCU and expands its membership to all who live, work or worship in Greenville County.

Current president and CEO Alan Berry hired as full-time manager.

| MILESTONE | 17

2010

Credit union ends decade with nearly 8,000 members and $36 million in assets.

Heritage FCU partners with The Children’s Miracle Network and the local Shriner’s hospital, gives to the Cancer Center of Greenville County and Miracle Hill, and is the named sponsor of Greenville’s longest-running and most successful event, Main Street Fridays, according to Tina Ray, the credit union’s marketing director.

Greenville Heritage FCU has taken great pains to reach out to and serve Greenville’s most vulnerable.

The credit union has earned both the “low-income designation,” which requires more than 50 percent of its membership to have a family income of 80 percent or less of the median family income for the area, and certification as a Community Development Financial Institution.

“We’re always looking for ways to give back to Greenville and serve our members,” Ray said.

For 75 years, the Greenville Heritage Federal Credit Union has succeeded.

2014

Credit union purchases and renovates old Employment Security Commission building as new headquarters.

2016

GHFCU celebrates its Diamond Anniversary with nearly 13,000 members and more than $88 million in assets.

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06.24.2016

CommunityWorks microloan helps propel home care company to staff of 85 MELINDA YOUNG | CONTRIBUTOR

myoung@communityjournals.com

One of James Bennett’s memories from his childhood is of helping his father get up when he fell on the floor as multiple sclerosis slowed down the elder Bennett and impaired his mobility.

“Especially during the summer months, it’d get real hot, and we couldn’t take him outside, because he’d get so worn out and couldn’t move,” Bennett says.

Bennett spent much of his youth helping his mother care for his father and for a sickly grandparent. The extended family rallied and helped with caregiving as well as they could, but the experience left a big impression on Bennett. It showed him that people, especially those who lack the aunts and uncles who helped his family, could have a hard time keeping sick loved ones at home. Bennett never forgot this, even as he was getting on with his life as a Clemson University student and in his professional career in the manufacturing food industry.

This idea came back to him, years later. He was in his mid-30s and had a family, along with more than a decade of experience in business operations. Bennett prayed about his next career step and decided to launch, in July 2011, his own company, Upstate Home Care Solutions.

“I wanted to help folks who needed assistance in their homes,” Bennett says. “I understood there would be a growing need for people to have help at home as the baby boom population grows older.”

Bennett’s goals were to give people nonmedical, in-home assistance, such as personal hygiene, respite care and other services, in a cost-effective way.

“We focus on activities of daily living, bathing, dressing, meals, housekeeping,” he says.

James Bennett launched Upstate Home Care Solutions with the help of a $15,000 microloan from CommunityWorks.

daughters with him when he cleaned buildings at night.

“For a while, you have to grind it out and do what you have to do to make things flow,” Bennett says. “You have to rely on your faith, believe this is going to take off and that this is what God has in store for you, holding on until it comes to fruition.”

Starting out, Bennett used his retirement funds, as he had been saving the maximum amount in his company-sponsored 401(k) retirement plan for more than a decade. He was willing to take the tax penalty.

But there was one hitch in his startup plans: “Marketing and sales is where I lack a little,” Bennett says, adding that he needed additional funding that he was unable to obtain through a bank because of his lack of business history.

Then Bennett heard about CommunityWorks and its microloans for small businesses, particularly for minority-owned businesses.

Bennett applied for a microloan and received $15,000, which he used to hire a marketing group to develop a brochure, sales plan and strategy. The loan, which he plans to have paid off by the end of this year, FAITH IN THE FUTURE was much needed, he says.

Bennett, 39, had the passion and resilience to make “Every year since we’ve been in business, the company this work. For instance, Bennett worked four jobs during has doubled in size,” Bennett says. “We’ve had trementhe startup’s early years, including weekdays managing dous growth and now have 85 employees, and we serve his new enterprise, 12-hour weekend shifts at BMW, the Upstate, including Greenville, Spartanburg, Anfloor scrubbing at a mall and nighttime janitor work at derson, Prosperity and Blacksburg.” a dialysis center. He made sure he spent time with his Gross revenues could top $1 million this year, and family of four, even it meant bringing his wife and future plans could take the business statewide, Bennett says.

Upstate Home Care Solutions’ job growth over the past five years led CommunityWorks to give Microbusiness Month Award Winners Bennett an Excellence in Entrepreneurship EcoCommunityWorks gave Excellence in Entrepreneurship awards to seven Upstate entrepreneurs on June 21, nomic Impact Award on June 21.

2016, for their success after launching their businesses with help from microloans from CommunityWorks.

Bennett’s business’s rapid growth exemplifies James Bennett, owner of Upstate Home Care Solutions, received the Economic Impact Award. how people who might not have access to tradiOther winners: tional means of capital can succeed and grow their Unsung Hero Award: Dee Johnson, Au Courant Interiors business with help from a microloan, says Archie Leadership Award: Charlotte Brown, Fresh Vibes Up and Coming Award: David Saidat, Cocobon Chocolatier Johnson, small business lending manager for Community Impact Award: Dondre Simpson, New Age Health CommunityWorks.

Fastest-Growing Award: Justin Smith, Crossfit Greenwood “It is incredibly rewarding to watch this process Business IDA Award: Deborah Sullivan, Consign Werks from start to finish,” Johnson says.

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Risky business

How to become an angel investor ANDREW MOORE | STAFF

amoore@communityjournals.com Investing in startups is not for the faint of heart. These businesses are just beginning to develop, and their expenses typically exceed their revenue. In fact, most of them will fail.

But you could find yourself sitting on a goldmine.

Case in point: Andy Bechtolsheim, co-founder of Sun Microsystems. He invested about $100,000 in Google just months after founders Larry Page and Sergey Brin created the tech giant in their garage.

Bechtolsheim is now worth about $3 billion. That could be you.

Digital innovation has opened countless doors to startup investment opportunities across the nation and in the local community. But it’s all about pursuing the right idea. And an individual needs to understand the basics of a startup to do that.

At its earliest stage, a startup is a business that is only an idea. It has no market-ready product, customer base or revenue stream, and it is usually funded by its founders or their friends and family. That idea is then researched and developed and tested, ideally with paying customers.

Startups can then pitch their business to angel investors after becoming operational and establishing a revenue stream. These investors provide capital to startups in exchange for equity in the business. Angel funding typically ranges from $100,000 to $1,000,000.

Startups can attract more funding from a venture capital firm if they can demonstrate rapid traction and revenue growth. These firms usually invest several million dollars for a substantial (but minority) equity stake.

Angel investors typically exit their investments when the company is sold to a strategic buyer (a larger company in the industry), or in increasingly rare occasions, through an initial public offering.

SO YOU WANT TO INVEST IN A STARTUP?

Rolling the dice means you’re going to be contributing to job creation and capital formation. And you could get high returns. But there are some things to consider.

The first consideration is wealth. Individuals were once required to have an annual income of at least $200,000 or a minimum net worth of $1 million before investing in a startup. The Securities Exchange Commission established that accreditation rule in 1982.

However, the commission modified that rule in May (based on the 2012 JOBS Act). Now, non-accredited individuals can invest in startups through online crowd-funding sites such as FlashFunders, NextSeed and SeedInvest. However, there are strict limitations.

FOCUS ON FINANCE

Before injecting money into a startup, there are some front-end objectives every first-time investor needs to handle. First, you’ll need to consider whether or not you’re seeking a return based on investment or involvement.

After that, you should consider how much money you’re willing to invest over a period of time, because you’ll need to diversify across several startups due to the high failure rates.

Finally, you need to think about your relationship to the company and how you want to be involved.

That determines how informed you are.

KNOW THE RISKS — AND REWARDS

Once you’ve set your objectives, you need to get educated. Part of that education is learning the risks associated with startup investments.

Approximately 500,000 small businesses are started across the nation every year. About half of them fail in the first five years, according to the Small Business Administration.

So the odds of receiving a return are equivalent to flipping a coin. That fact probably leaves you thinking, “Why should I invest in a startup?”

“If you’re disciplined, diversified and patient, angel studies show you can expect to generate a 20-plus percent rate of return on your money, which is roughly double historical returns in the public markets,” said Matt Dunbar, managing director of the Upstate Carolina Angel Network.

FIND YOUR INVESTMENT OPPORTUNITY

Once educated, you’ll need to find startups to invest in. Online portals not only offer non-accredited investors educational resources but also help them identify eligible startups for investment. Accredited investors can consult an angel network — a professionally managed group of angel investors that sources and structures startup investments and provides educational resources to new investors.

The South Carolina Angel Network operates several groups across the state, including the Upstate Carolina Angel Network in Greenville, the Electric City Angels in Anderson and the Spartanburg Angels in Spartanburg.

“Angel groups allow you to find investment opportunities in or near your local market while giving you a chance to get to know the companies and entrepreneurs much more intimately than a public market investment,” said Dunbar. “Investing in local startups helps attract entrepreneurs who create new jobs and wealth, ultimately improving the quality of life and economic vitality in the community.”

Before investing, you need to evaluate several aspects of the startup: the team, market, technology and business model. These are critical to success.

After you’ve invested in a startup, start looking for another one. Diversifying your portfolio is essential for making money in startups, because so many fail.

“You have to swing at enough good pitches to hit home runs that make up for the strikeouts,” Dunbar said.

Angel investors can add significant value to the startup after investing by using their experience,

| COVER | 19

4 TIPS ON CHOOSING A STARTUP EVALUATE THE PRODUCT BEING OFFERED. The startup’s product should have some defensible competitive advantage, and its market should be large and growing. Most importantly, you should talk to customers and determine if and why the market will adopt the startup’s product. You should also examine the competition and the startup’s other competitive advantages.

CONSIDER THE STAGE OF THE BUSINESS AND ITS FINANCES. You want to choose startups that are ready to enter the market, and you should investigate how it plans to spend your money. And while you can’t rely on fiveyear projections, you can ensure the startup has a scalable model with attractive unit economics. Also, you need to review the amount being raised and how fast it’s being spent, because the No. 1 job of the startup is not to run out of cash.

PAY MORE ATTENTION TO THE JOCKEY, NOT THE HORSE.

The startup has to be led by a person with the right skills, motivations and aspirations.

The founder should be resourceful, trustworthy, determined, creative and persistent. The entrepreneur’s ability to build the right team is also critical.

EXAMINE THE STRUCTURE OF THE DEAL.

In order to generate returns commensurate with the risk of investing in a startup, you’ll need to make sure you pay the appropriate price. Startup valuations are an art rather than a science, but you want to structure the investment so as to have the possibility of generating a 50 percent rate of return (to make up for the inevitable strikeouts). expertise and connections to help the company succeed. That guidance combined with the entrepreneur’s skill and dedication can attract a buyer.

Once the company exits, the entrepreneurs and investors are then well positioned to create and invest in more startups, building momentum in a virtuous cycle that can have a long-term impact in the community.

Matt Dunbar contributed to this article. He is the co-founder of the South Carolina Angel Network and managing director of the Upstate Carolina Angel Network.

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06.24.2016

For millennials, mobile tech trumps branch banking DAVID DYKES | STAFF

ddykes@communityjournals.com Mobile banking last year outpaced branch banking for the first time, research shows, and local bankers say the crossover illustrates the broader trend of digital channel engagement.

Mobile banking, smartphone and tablet use are all growing rapidly.

In the last five years, adoption of mobile banking and smartphones has more than doubled, while that of tablets increased roughly 8.5 times, according to a report earlier this year by Javelin Strategy and Research.

“Mobile is on a growth path to unseat PCs to become the ‘first screen’ through which bank customer interact with and judge their primary financial institution (FI),” said Daniel Van Dyke, a Javelin mobile analyst. “FIs will need to continue to innovate to outpace this increasing mobile banking adoption.”

FASTEST-GROWING CHANNEL

Smartphone-engaged millennials — those ages 18 to 34 who mostly use the technology to pay for things, get loans and more — are a key part of the shift.

Banks have been scrambling to keep up. It’s not a glimpse of the future, local bankers say. It’s here now, they insist.

At Wells Fargo, research shows 72 percent of millennials use mobile devices for banking.

That compares with about 50 percent for older Gen Xers and 19 percent for baby boomers.

Yet the research also shows 63 percent of millennials use bank branches. That compares with 68 percent of Gen Xers and 69 percent of boomers.

Research also shows more than 75 percent of the bank’s deposit customers interacted with a banker or a teller at least once within a recent six-month period, said Justin Hawkins, Wells Fargo’s area president for the Upstate.

Mobile is the fastest growing channel within the company, and Wells Fargo now has more than 16

Justin Hawkins

Lynn Harton

million mobile banking customers, Hawkins said.

The bank is responding with “click for care” that connects a customer needing help with a bank representative who by phone can assist as part of a seamless experience, he said.

Wells Fargo also has a digital innovation lab that collaborates with the company’s lines of business to ask how can digital technology make banking simpler and more convenient, Hawkins said.

Later this year, Wells Fargo will pilot a feature allowing customers to withdraw cash from an ATM using a mobile phone instead of an ATM card, he said.

“Our decisions and our ideas are actually born locally,” Hawkins said. “The landscape of banking is changing on multiple fronts.”

WHO USES MOBILE DEVICES FOR BANKING?

72%

of millennials

50%

of older Gen Xers

19%

of baby boomers

REACHING EVERYBODY

The banks, however, aren’t ignoring older demographics.

“Our view is it’s not delineated toward millennials,” Lynn Harton, president and chief operating officer of United Community Banks Inc. and its subsidiary bank, United Community Bank, said of changes in the consumer banking industry.

“It’s just everybody.”

He pointed to a Brunswick, Ga., branch that bank officials acquired and considered closing.

The office, which catered to many older and retired customers with checking and savings accounts, mortgages, personal loans and credit cards, was expensive to operate, said Harton, who is based in Greenville.

But a six-month study showed, surprisingly, that 69 percent of the branch’s customers didn’t go into any branch office or use ATMs or drive-through windows, Harton said.

“I can tell you that Brunswick is not a big millennial town,” he said.

The bank in the last several years has only built only one branch — on Augusta Street in Greenville — and that one has only two teller windows.

“It’s much more of a place to close a transaction,

Art Seaver

WHO USES BANK BRANCHES?

63%

of millennials

68%

of older Gen Xers

69%

of baby boomers Source: Wells Fargo

In the last five years, adoption of mobile banking and smartphones has more than doubled, while that of tablets increased roughly 8.5 times.

Source: Javelin Strategy and Research.

to have a conversation,” Harton said. “We’ve got the community room there for either events or for other community groups to use. But it’s much less about transactions. It’s much more about consulting and closing deals. And we think that’s the wave of the future.”

United periodically reviews its transaction volumes to gain a better understanding of evolving customer trends.

The most recent data was for November 2015 and indicated monthly transaction volume was divided 9 percent through branches — customer checks and deposits — and 91 percent through non-branch channels such as online banking, mobile banking, ATMs and debit cards.

FINTECH IS HERE

Art Seaver, CEO of Southern First, said there’s no escaping that financial technology, or fintech, is here.

“We’ve made significant investments so that all of our technology is the technology that they [the younger generation] are seeking,” Seaver said.

“No one ever has to come to an office of the bank anymore. Our foresight is how do we continue that and take services to the client when they’re not coming to us.”

Twenty-six percent of the dollars deposited each month with Southern First come via remote deposit or mobile technology, Seaver said.

The benefits of online and mobile access mean, perhaps, greater efficiency within the banking industry, “and that’s what excites me,” he said.

“I don’t have to have 13 offices in Greenville,” he said. “I think we can excel in service even in a mobile and virtual world.”

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| COVER | 21

Buy or lease? Deciding on CRE investment isn’t so simple

By STUART WYETH, SIOR & TYSON SMOAK, CCIM OF PINTAIL CAPITAL

If you’re considering leasing or purchasing commercial real estate, there are some basic things to consider. Any company or individual who is deciding between leasing and purchasing should contact a real estate professional. Consider contacting an expert dedicated to commercial real estate who has obtained a Certified Commercial Investment Member designation (CCIM) and/or a Society of Industrial and Office Realtors (SIOR) designation.

When considering whether to lease or own, it is critical for users of commercial space to evaluate the advantages and disadvantages of each alternative by analyzing a number of factors. Some of these factors include the space requirements of the business, growth trajectory and capital needs of operating a business. Also consider the importance of projecting and establishing a visible brand, time commitments, operational control, tax considerations and other nonfinancial metrics.

BUYING

Buyers commonly take one of two paths to owner-occupied commercial real estate:

Company owner purchases building and leases back to the operating entity: This option encompasses company owners who want to own a building and collect lease revenue from their business as an additional stream of income. The building owner will benefit from cash flow from the lease, potential value appreciation of the property and equity buildup over time as the mortgage is paid down. Such a structure can be an excellent avenue for wealth creation, and there are potential tax benefits to the owner and the business.

Operating company purchases building to retain full control of the property: A few common examples may be a warehousing operation, an insurance company or a restaurant franchise. One of the most critical considerations for this type of buyer involves deciding if an equity investment into real estate will produce a return that outweighs a direct deployment of this capital into the company operations. Under this scenario, it is particularly important to thoroughly compare the lease and purchase options.

LEASING

The decision to lease is a common alternative to the aforementioned purchase options. Leasing can be most appropriately equated to flexibility. Addi-

tionally, leasing preserves a business’s equity/capital for investment in the company and generally allows a business to make a shorter-term commitment. If handled properly, leasing may allow the company to expand into more space at a future time without an immediate commitment to more space than needed.

Historically, leasing has been viewed as beneficial, because the lease liability was not required to be shown on a company’s balance sheet. The Financial Accounting Standards Board (FASB) is implementing policies to shift GAAP accounting standards to require leases to be shown on balance sheets as assets and liabilities. This proposed accounting change will

more directly impact companies with significant lease holdings.

COMPARE AND CONTRAST

The lease versus purchase decision is not restricted to just financial factors. A combination of many financial and operational factors weigh into such a decision, and a careful analysis should be undertaken to compare these factors.

BENEFITS OF LEASING SPACE

RISKS OF LEASING SPACE

Short to medium time commitment

Relocation to new facility requires substantial amount of planning and diligence, which can be a distraction from an operating company’s daily operations

Financial commitment limited to lease obligations

Future rental obligations subject to market conditions (limited supply could drive up rental cost)

Potential flexibility for growth or contraction (if in Growth subject to availability of space a building that allows for expansion) Capital outlay can be limited if landlord provides concession for physical improvement of the leased space

Lack of diligence by tenant to follow lease obligations could create a potential for loss opportunities, associated missed options and notice dates

BENEFITS OF PURCHASING

RISKS OF PURCHASING

Control your own destiny

Requires capital/equity outlay which alternatively could be invested in operating business

Owners have full control over the operation of their facility

Requires focus on facility operations and maintenance

Building ownership allows for capital appreciation over time (assuming positive economic conditions persist)

Interest rate and economic risk

If neither a good purchase opportunity nor a good lease opportunity exists, a company can choose to build a new building customized to accommodate their specific needs. Under this scenario the ownership structure can vary, as well. This will allow a company to choose to enter a lease with a third-party developer, or the company can choose to own the building outright.

Inspired Education.

Future Possibilities.

UBJ

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06.24.2016

COMING FALL 2016

As a workforce development leader in the Upstate for more than five decades, Greenville Technical College launches a new dynamic collaboration between education, industry and community partners at the Center for Manufacturing Innovation (CMI).

Building upon an educational partnership with Clemson University, CMI was crafted with key input and guided by strong support from area manufacturers, including Bosch Rexroth, Michelin, GE, BMW, League Manufacturing, and Standard Motor Products.

Together, through this unique collaboration, we are working to connect a supremely qualified workforce with leading industry talent needs, so that local companies will be more globally competitive and our community will continue to thrive.

Education & Training | Economic Development | Research Visit CMIgreenville.com for more information.

06.24.2016

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upstatebusinessjournal.com

REAL ESTATE DEALS AND DEVELOPMENTS ACROSS THE REGION

SHERRY JACKSON | STAFF

FRONT ROW

| SQUARE FEET | 23

sjackson@communityjournals.com |

@SJackson_CJ

Greenville Planning Commission, June meeting

There were several items on the agenda for this month’s city of Greenville Planning Commission meeting, including two subdivisions, a new multifamily project off Keith Drive, a few annexations and requests to change zoning. Pretty busy for a June meeting. One board member, Michael Allen, was not present.

SALVATION ARMY REZONING This item was pulled from the agenda. City staff said they were told the Salvation Army wants their new director to have time to get up to speed and do some community outreach first. They will resubmit the application at a later date.

and bowling alley. The board agreed it would be a good addition to the community and approved unanimously. This application will go before City Council for a vote.

THE COTTAGES AT OVERBROOK We’ve got a separate story in this week’s UBJ, so I’ll keep details on the actual subdivision short. The application is from Nathan Kaser, Renaissance Custom Homes, for a 25-lot cluster subdivision on 4.11 acres at 541 Lowndes Hill Road.

Several revisions to the design were made over the past few months. A neighborhood meeting was held based on the original proposal, but a number of changes were made since, including increasing the amount of open space provided.

Several residents of the Overbrook neighborhood spoke in opposition to the application. Joel Armstead, vice president of the Overbrook neighborhood association, told the board that even though Kaser has built some great homes in the area, the association is opposed to this one. Residents are concerned about clear-cutting of trees, lack of sidewalks, public transportation and bike lanes for a high-density development in the area.

David Mitchell, president of the Overbrook neighborhood association, also spoke and said that in the last 50 years, there hasn’t been a development of this size in the Overbrook area. The project would attract too many cars, and he voiced concerns over sidewalks and infrastructure.

Board members discussed stormwater (it will be required to be retained on site) and sidewalks. Board member David Keller encouraged those concerned about clear-cutting of trees to contact their City Council member, as the PC board has no jurisdiction over that. The board approved the application with the conditions that the sidewalk be extended, a decorative fence added and a landscape buffer included to screen the back of the cottage homes from the street. Board member Jonathan Pait voted no, saying he was a representative of those opposing density.

CONGAREE AND GRIFFITH ROADS This application made by Corley Family Realty Limited Partnership is to annex and zone 9.1 acres at Congaree and Griffith roads from S-1 Service District, to C-3, regional commercial district.

City staff said the application meets the criteria.

The intent is for a new owner to acquire the property and develop it into a Vermont-based family entertainment venue with birthday parties, an arcade

access points, green space and sidewalks. A lot of discussion was given to the “hammerhead” design of the streets within the development. Those are usually discouraged by the city, but in this case, the PC said it looks okay. As long as it complies with the fire department it should be fine, the commission said, as the streets won’t be public streets, only internal to the development.

The board approved unanimously with staff conditions.

860 S. CHURCH ST. Another fairly easy discussion was for a final development plan to revamp the shopping center on Church Street. When the DRB reviewed earlier this month, they had suggested changing the paint color from white to gray so it wouldn’t show dirt as quickly.

30 MARKET POINT DRIVE This application is to clean up the zoning as part of a land swap to provide connection to the property, which is intended to be developed into a new apartment community. The application is to rezone 0.7 acres from PD, Planned Development District, to C-3, Regional Commercial District.

It will then take 0.858 acres and rezone from C-3 to PD. Confusing, huh? All in all, it’s just paperwork, and the PC had approved the apartments earlier this year. The application was approved unanimously. This one will also go before City Council.

39 AND 41 MARKET POINT DRIVE This is actually two separate applications. The first one, to annex and zone 6.85 acres from PD to C-3, was an easy one. City staff said the land is intended to be townhomes and recommended approval. The PC board approved unanimously.

Part two went into a little more detail. Ryan Homes is planning to build 83 townhome units on 6.3 acres.

Each unit will have two to four bedrooms. This went before of the Design Review Board earlier in the month during informal reviews, and the PC board reviewed the DRB comments.

New renderings showed additional landscaping,

The owner agreed. The PC said the building is “blighted” and the rehab will be good for the property. The application was approved unanimously.

419 CROFT ST., GATEWAY HOUSE Next up was an application to rezone 0.188 acres at 419 Croft St. from RM-1, Single & Multi-Family Residential District, to RDV, Redevelopment District.

PC Chair Matt Johnson recused himself, as he lives close to the project. The Gateway Center has an existing building, and the center wants to build a training facility on this property. This application is only for the rezoning — before anything is built, it would need to go before the board of zoning appeals for a special exemption for that use, said city staff.

The PC board approved the application, and it will go on to City Council.

24 | SQUARE FEET |

UBJ

REAL ESTATE DEALS AND DEVELOPMENTS ACROSS THE REGION

SHERRY JACKSON | STAFF

KEITH DRIVE APARTMENTS This application by The Berry Company is to build 199 multifamily units on 21.82 acres at Keith Drive and Circle Avenue.

Access to the project will be on Century Drive and the project will be limited to 199 units as there is only one access point for emergency services. The property slopes, so some buildings will be three-story and some will be four-story. An existing pond will remain for stormwater retention.

Building elevations were modified based on comments from the Design Review Board. While not required, a neighborhood meeting was held.

Allison Thompson told the PC that she owns a business and is concerned about traffic and property values. Another nearby resident said he was concerned about noise and busy streets. After some discussion on the single entry, the PC board approved unanimously.

TEXT AMENDMENT FOR COVERED BREEZEWAYS AND OFF-STREET PARKING

06.24.2016

@SJackson_CJ

25-home subdivision planned for Greenville’s Overbrook neighborhood Situated on 4.11 acres along Lowndes

ve Dri

For more information, contact Greenvillehomebuilder.

ith

Hill Road, a new 25-home subdivision is planned called The Cottages at Overbrook.

The city of Greenville Planning Commission gave approval for the new cluster subdivision at its meeting last week. Each two-story, single-family home will average 1,500 square feet and have two or three bedrooms with at least two baths. Interior finishes will have granite countertops, stainless steel appliances, tile, walk-in master showers, front porches and craftsman-style interior trim. Prices will range from the mid-$200,000s to the low $300,000s.

One main park, along with two smaller pocket parks, will provide green space for residents. The cottage homes will have no garages; instead, parking will be on the side com. of each house in keeping with the Overbrook neighborhood, said developer Nathan Kaser with Renaissance Greenville Middle Custom Homes.

Academy “There’s such a great demand East North Street Academy for single-family homes downtown, and Overbrook felt like the perfect location for this kind Lowndes Ave of project,” said Kaser. “It’s maintenance-free living and suits the needs for many different types of buyers.”

Renaissance Custom Homes Lowndes Hill Rd will be the builder along with Gendlin Homes. Construction is expected to begin on the first homes by the end of the year.

Ke

Last up was an application from the city for a text amendment to the accessory uses and structures section of guidelines to include covered breezeways.

The change is to allow and include the square footage.

The other requested change wasn’t as easy. City staff was asking to modify the language for parking calculations for restaurants. The intent is to limit spillover from some restaurants (only new applications) into neighborhoods. PC board members were concerned about the wording and don’t want to limit uses in retail spaces in small shopping centers. The board also doesn’t want a sea of parking in front of shopping centers.

The PC requested the parking portion be tabled until the attorney can draft new wording. The amendment for breezeways was approved.

sjackson@communityjournals.com |

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541 Lowndes Hill Rd

85

I-3

06.24.2016

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upstatebusinessjournal.com

Gould Investors LP, in the sale of 22,000 Willz Tolbert represented SF of property at 400 W. Blackstock Road, the buyer, Co B LLC, in Spartanburg, from the sale of 0.58 AC of property at 3200 Augusta Sanjeloh LLC. St., Greenville, to DRM COLLIERS Augusta LLC. INTERNATIONAL Kevin Bentley represented ANNOUNCED: the tenant, X-Ray Industries, in the leasing Brantley Anderson and Taylor Allen represented of 4,800 SF of property the landlord, US REIF at 1097 S. Highway 101, Unit 7, Greer, from ICP SC LLC, in the leasing of 8,040 SF Gateway 101 LLC. of office space at 5 Randall Bentley Independence Pointe, represented the seller, Greenville, to Movement Tanya Dix Merritt, in Mortgage LLC. the sale of 1.44 AC Richard Barrett of property at 14055 Highway 11, Campobello, represented the seller, McConnell Builders Inc., to 14055 Hwy 11 LLC. in the sale of 4,000 SF Kevin Bentley represented of flex space at 2005 E. the landlord, Cordin Main St., Easley, to Dixie Corporation, in the leasing Paradise LLC. of 9,908 SF of property at 180 Commerce Center, Brantley Anderson and Richard Barrett Greenville, to Mastec represented the landlord, North America Inc. BKD Capital LLC, in Kevin Bentley represented the leasing of 1,984 SF the landlord, Everything of office space at 429 After School, in the Roper Mountain Road, leasing of 14,240 SF of Greenville, to Integrated property at 510 S. Main Health & Wellness.

St., Mauldin, to Family Givens Stewart, Garrett Footprint.

Scott and Brockton Hall Randall Bentley represented the tenant, represented the tenant, Global Automotive America In Design Inc., Partners, in the leasing of in the leasing of 5,616 202,104 SF of industrial SF of property at 221 space at 15 Tyger River Pelham Road, Suite 201, Drive, Duncan.

Greenville, from Pisgah Brantley Anderson and LLC. Taylor Allen represented Deanna Hudgens the tenant, CBIZ National represented the buyer, Tax Office LLC in the PHG Greenville LLC, leasing of 2,878 SF in the sale of 0.336 of office space at 530 AC of property at South Howell Road, Greenville.

Main Street and Markley Street in Greenville, from Brantley Anderson and Taylor Allen represented St. Andrew’s Episcopal the tenant, Brown & Church.

Brown of South Carolina Kevin Bentley represented Inc., in the lease renewal the landlord, Garrett of 4,922 SF of office Properties Inc., in space at 10 Falcon Crest the leasing of 1,400 Drive, Greenville.

SF of property at 838 Powdersville Road, Suite I, Easley, to The Cooking GRIFFIN PROPERTY SOLUTIONS Shop.

ANNOUNCED: Randall Bentley Mark Griffin represented represented the buyer, the tenant, Five Star Ferguson Enterprises Inc., in the sale of 4.387 Sunrooms, in the long term lease of a 2,000 AC of property at 56 SF flex building at 114 Bruce Road, Greenville, Toledo St., Greenville. from Gary L. Blackburn.

Mark Griffin represented Ashley Trantham the seller, in the sale of represented the buyer, LEE & ASSOCIATES ANNOUNCED:

COMMERCIAL REAL ESTATE TRANSACTIONS IN THE UPSTATE

35 AC of commercial land at 2952 New Easley Highway, Greenville, to Duke Sandwich Productions.

Enterprises LLC.

Rapid LLC, in the leasing of 10,000 SF of retail Tom Daniel and Towers and warehouse space at Rice represented Hampton Station, 1320 the seller, John D. Hollingsworth on Wheels Hampton Ave. Extension, Greenville, to Noble Dog Mark Griffin represented Inc., in the sale of a Hotel LLC. the tenant, The Computer 20,832 SF industrial Clinic, in a long-term building at 897 N. Main Rob Howell represented lease of 2,221 SF of St., Greenville, to La Jolla the landlord, Oceana office space located at Property Management Rapid LLC, in the 1901 Laurens Road, LLC. leasing of 2,400 SF of Greenville. office space at Hampton Rusty Hamrick Station, 1320 Hampton Mark Griffin represented represented the seller, Ave. Extension, Greenville, the landlord, 107 Main BBW Properties LLC, to Livewell Greenville.

Greer LLC, in the longin the sale of 207 AC term lease of a 3,500 of property on Asa Hall Rob Howell represented SF restaurant building at Road, Iva, to the Paul the landlord, Oceana 107 S. Main St., Greer, to C. Aughtry II Revocable Rapid LLC, in the Mediterranean Grill.

Trust. leasing of 1,800 SF of John Powell represented office space at Hampton Station, 1320 Hampton NAI EARLE FURMAN the seller, Donal Hester, Ave. Extension, Grenville, ANNOUNCED: in the sale of an 8,000 to AY SC LLC. SF industrial building in John Staunton and Pendleton to Nicholas Hunter Garrett COLDWELL BANKER represented the landlord, Hanks.

COMMERCIAL CAINE Frank and Barbara Towers Rice represented ANNOUNCED: League, in the leasing of the seller, The Goodwin a 12,924 SF industrial Family Trust, in the sale Pete Brett, David Sigmon space at 608 Furman of a 73,100 SF industrial and Matt Vanvick represented the buyer, Road, Greenville, to building at 401 Furman Assembly SC LLC, in the WORLD Designs Inc. Hall Road, Greenville, purchase of 20.044 AC Glenn Batson represented to Ventana Properties at Lot 1, W. Blue Ridge Greenville LLC. the tenant, MasTec Drive, Greenville, from Advanced Technologies, Jimmy Wright and Ted PDC LLC. in the leasing of a 9,936 Lyerly represented the Graham Howle SF industrial space at seller, Ra Bo Nette represented the buyer, 180 Commerce Center, Properties LLC, in the Spinhowle LLC, in the Greenville, from American sale of a 3,069 SF purchase of a 33,964 SAHM Corp. restaurant property at SF medical building on Towers Rice represented 1025 Fernwood Glendale 1.805 AC at 809 Laurens Road, Spartanburg, to the landlord, David Webb, Road, Greenville, from in the leasing of a 5,000 Rigsby Family Holdings OHI Asset (SC) Greenville LLC. SF industrial property at Laurens LLC. 3361 Highway 29 North, Keith Jones and Kelly Belton, to MasTec North Sullivan represented the Angela Halstead and Tim Satterfield represented America Inc. seller, JBK Real Estate the landlords, Nancy LLC, in the sale of a Keith Jones and Kelly Davis, Tommy Davis Sullivan represented the 2,865 SF office condo in and Nancy Carter, in the Oaktree Medical Plaza landlord, Carolina Group the leasing of a 7,570 in Easley to Foothills Inc., in the leasing of a SF industrial building Community Healthcare.

4,500 SF office space in at 4303 S. Pine St., the Heritage Office Center Dan Dunn represented Spartanburg, to Shreve’s in Greenville, to TEC the seller, J. Howard Cabinet Concepts LLC. Industrial Maintenance & Henderson, in the sale of Construction. a 7,780 SF retail property Tim Satterfield represented the tenant, at 110 Country Club Keith Jones and Kelly Joe Mills d/b/a Millstone Road, Spartanburg, to Sullivan represented Healthcare Associates Ofori Realty LLC. the landlord, JLM & PA, in the leasing of Associates LLC, in the a 938 SF office space at leasing of 12,500 SF of AVISON YOUNG 1218 John B. White Sr. office space at 1045 Keys ANNOUNCED: Blvd., Spartanburg, from Drive, Greenville, to PA Michael Sease Faruk Tanyel.

Solutions Inc. represented the buyer, Matt Vanvick represented Towers Rice represented AED Partners LLC, in the the landlord, Stone the seller, Lawrence purchase of a 7,500 SF Avenue Partners LLC, Alton, in the sale of a flex building and 3.3 AC in the leasing of small 22,500 SF industrial of land at 30 Grant Park office suites at 217 E. property at 301-303 Place, Piedmont.

Stone Ave., Greenville, to Hurricane Creek Road, Rob Howell represented Operation Purpose and Piedmont, to Glen Morton the landlord, Oceana M3 Development LLC.

| DEALMAKERS | 25

Sammy DuBose and Pete Brett represented the landlord, Verdae Properties LLC, in the leasing of a 2,000 SF restaurant space at Marketplace Shopping Center, 2445 Laurens Road, Greenville, to Joy of Tokyo.

KDS COMMERCIAL PROPERTIES ANNOUNCED:

Mark Ratchford and Mark Masaschi represented the tenant, JAMMS LLC, in the leasing of 7,124 SF of medical office space at 201 N. Main St., Suites C and D, Greenville, from Project 201 LLC. Mark Masaschi and Mark Ratchford represented the tenant, DBKH LLC, in the leasing of 7,180 SF of medical office space at 274 Commonwealth Drive, Greenville, from RAJMAN 01 LLC. Mark Ratchford and Mark Masaschi represented the tenant, Apex Allergy, in the leasing of a 6,600 SF building at 534 Woods Lake Road, Greenville.

Mark Ratchford and Mark Masaschi represented the buyer, Borck Associates LP, in the purchase of a 10,000 SF office building in the Greenville CBD, from Pendleton West Office Partners LLC.

26 | PROFESSIONAL |

UBJ

STRATEGIES FOR HONING YOUR PROFESSIONAL SKILLS

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06.24.2016

Why everyone needs a personal brand

By HANNAH BARFIELD SPELLMEYER Godshall Professional Recruiting & Staffing

Confession: A part of me wants to gag and roll my eyes a little when I hear the phrase “personal branding” in pop culture references. It feels narcissistic and self-impressed for those of us who aren’t actually featured on E! News or Bravo. After all, I’m not promoting a countertop grill or Proactiv, right?

Wrong. Personal branding is essential to your career and your leadership ability. The vast majority of us may not be solicited for the cover of a Wheaties box, but we can all benefit from defining and disseminating our “brand.”

Humans naturally label, sort and categorize people, places and things. When someone is consistent and their business is clear, we can readily access them in our mental Rolodex. This is true whether you’re in a support role, own your business or are in sales.

Take a moment and reflect on the image you portray to the world. I’ve met graphic designers who are quirky and edgy and graphic designers who are reserved and more conservative. I know salespeople who are obviously relationship-focused and salespeople that are “hunters.” There are people who prefer support roles where they have specific tasks and people who would rather be the ones keeping everyone else on task. All of these attributes can be thought of as part of a person’s brand.

So what makes a brand successful? Far and wide, the general consensus recommends having a clear, concise and consistent brand.

Clear: A brand that is clear is free of distraction.

Focus and develop your personal characteristics that make you unique and relevant. Admire those with skills different than your own, but don’t try to reproduce them if they are not authentic to you.

Concise: A brand that is focused on your unique characteristics should not have 20 different elements.

It is concise and memorable. I know — you’re complex and interesting, but I can’t really remember what you do exactly. Choose the most relevant and distinct traits about yourself and present those.

Consistent: Once you’ve identified the key com-

ponents of your personal brand, present them consistently. Be mindful of how others experience you and what image you are projecting to the world. Is it in line with the image that you want to be perceived?

HERE ARE SOME WAYS TO TACTICALLY WORK ON YOUR BRAND:

Don’t be afraid to decline events or requests that dilute your brand.

One of the challenges I face in developing my own personal brand is a reticence to say “no” every now and then. I’ve competed in pageants and so am sometimes asked to participate in events that are very much a part of my “old brand” but not necessarily relevant to my professional identity today. This can lead to a lack of cohesion and confuses “Pageant Hannah” with “Professional Hannah.” Do you take on optional responsibilities that dilute instead of enhance your brand?

Use social media to proactively promote your brand.

If you’re serious about your brand, go to your Facebook/Instagram/Vine/Twitter and remove any photos and posts that are inconsistent with your brand. Yes, it’s a personal platform, but nothing is really personal anymore. In addition, change your LinkedIn photo to one that is congruent with your brand (P.S.: It’s probably not a poorly cropped photo drinking beer on the beach). The lighting, your expression in the photo, your attire and the angle all contribute to how you will be perceived.

Align your appearance and your brand.

Although we certainly aren’t all celebrities, they provide great examples on successful branding. Lady Gaga, Richard Branson, Oprah, Rihanna, Blake Shelton and on and on. Think about each of these mavens of pop culture and how easily their “brand” comes to mind. Are you a laid-back guys’ guy peddling your fly-fishing company? Skip the suit; it doesn’t make sense. Are you aiming for a leadership position in a conservative wealth advisory firm?

Make sure your suit is pressed, always. Do you work in manufacturing where you interface with leadership and subordinates alike? Find a happy medium that’s true to your own personality.

The most essential part of your personal brand is that it is authentic. Clarifying your brand means getting to know yourself on a deeper level, and building your brand is much less about improving weaknesses than it is highlighting assets. Be mindful of your strengths and interests, and start investing more time and energy into those things.

06.24.2016

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PLAY-BY-PLAY OF UPSTATE CAREERS

upstatebusinessjournal.com

HIRED

HIRED

AWARDED

| ON THE MOVE | 27

HIRED

APPOINTED

BRYAN HUBER

JAMI WOOD

BROOKE BARLOW

DAVID MARLOWE

DANIEL THRELFALL

Named as graphic designer with Infinity Marketing. Huber most recently served as a UX developer and graphic designer with Erwin Penland.

He is a graduate of Clemson University with a degree in graphic communications. In his new role, Huber will work with the creative and production teams to design for a client, Comcast.

Named as director of development at The Children’s Museum of the Upstate (TCMU). Wood most recently worked with the Spartanburg Regional Foundation as its director of philanthropy. In her new role, she will be responsible for creating and maintaining relationships with donors to secure funds that support the museum.

Named as Mrs. Greenville 2017 by the officials for the Mrs. South Carolina America Pageant. Barlow serves as the director of business development with FUEL Marketing. She will represent the city of Greenville at the 2017 Mrs. South Carolina pageant in Mooresville, N.C.

Named as store manager for TD Bank’s Travelers Rest store. Marlowe previously held positions with Verizon Wireless as a data sales consultant and store manager.

In his new role, he will be responsible for overseeing operations within the store, assisting with customer relations and developing new business in the community.

Named as interim chief marketing officer with Worthwhile. Threlfall is the owner and president of Threlfall Consulting and has experience in digital marketing strategy, SEO and content marketing.

He previously served as senior SEO manager for Volume Nine in Denver and SEO manager for Seattle-based AudienceBloom, among others.

The Greenville Swamp Rabbits hockey team also named Alan Fuehring as director of broadcasting/media relations and Justin Gutkowski as director of digital marketing/creative services. Kaitlyn Unruh was hired as video production coordinator and Abby Koba as graphic designer coordinator.

EDUCATION Joe Cummings was named as head varsity boys’ lacrosse coach at Christ Church Episcopal School. Cummings is the co-founder/owner of Lacrosse Force and previously played major league lacrosse for three years.

Clemson University English professors David Blakesley and Victor J.

Vitanza have been named Fellows of the Rhetoric Society of America.

Blakesley also has received the organization’s 2016 George E. Yoos Distinguished Service Award. The awards were presented at the 17th Biennial Rhetoric Society of America Conference on May 29 in Atlanta. The society is the umbrella organization for scholars and teachers in every academic discipline who are interested in rhetoric.

Sarah Winslow, associate professor of sociology and anthropology, has been appointed director of Clemson University’s premier undergraduate scholarship program, the National Scholars Program. Her research focuses on gendered dynamics and processes in a number of contexts, with special attention to the intersec-

tions of employment and family life.

She has served as the National Scholars Program interim director since July 2015.

is a clear liquid that will be used in the pet food industry, as well as the rendering industry.

Alexey Vertegel and Vladimir Reukov, professors in the bioengineering department and researchers for Clemson’s Animal Co-Products Research and Education Center (ACREC), are winners of the 2016 Bisplinghoff Innovation Award by the Fats and Proteins Research Foundation for their creation of a natural antioxidant, Prot-X, which can extend the shelf life of pet food. Their creation

Melissa Thomas joined the South State Bank Greenville office as a junior mortgage originator. Thomas has been with South State Bank since 2012 as a financial services representative and consumer lender. She serves on the marketing advisory board for Greenville Technical College and is vice chair of the Mauldin Planning Commission, among others.

FINANCE

CONTRIBUTE: New hires, promotions & award winners may be featured in On the Move. Send information and photos to onthemove@ upstatebusinessjournal.com.

Carly is a second-generation Allstate Agency Owner. Like her dad before her, she knows success comes from treating clients like family. That’s why her business is growing strong, just like her two little girls.

Isn’t that the kind of good life you deserve? Reserve your spot today.

TALK TO YOUR ALLSTATE RECRUITER IN THE GREENVILLE AREA TODAY. Bonnie Lins Executive Recruiter 888-901-9692 blins@allstate.com

Subject to all terms and conditions as outlined in the Allstate R3001 Exclusive Agency Agreement and Exclusive Agency program materials. Allstate agents are not franchisees; rather they are exclusive agent independent contractors and are not employed by Allstate. Allstate is an Equal Opportunity Company. Allstate Insurance Company, Northbrook, IL. In New Jersey, Allstate New Jersey Insurance Company, Bridgewater, NJ. © 2015 Allstate Insurance Co.

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COMMUNITY

28 | THE FINE PRINT |

UBJ

BUSINESS BRIEFS YOU CAN’ T MISS

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06.24.2016

Southern Tide partners with Bryan brothers

DON’T GET CAUGHT ON THE NAUGHTY LIST! Book your holiday parties early at the Commerce Club!

Book your holiday party at the Commerce Club for a convenient downtown location with amazing views, excellent service, and delicious cuisine.

Receive a complimentary champagne toast or gourmet coffee bar if you book your 2016 holiday party by the end of July!

Contact our Private Events Director, Julia Bankert, for more information: 864.232.5600 | julia.bankert@clubcorp.com 17th Floor One Liberty Square, 55 Beattie Place commerce-club.com

Greenville-based Southern Tide, a lifestyle apparel brand, recently announced a multiyear sponsorship with YouTubers Wesley and George Bryan of Bryan Bros Golf as their official apparel provider. The Bryan brothers seek to share their enthusiasm for and enjoyment of the game within the golf industry while documenting their adventures on social media. The brothers are on their way to the PGA tour with Wesley Bryan just receiving his PGA Tour Card.

“The Bryan brothers represent the next generation of professional golf while leveraging branded content to showcase on their social media platforms,” said Southern Tide CEO Chris Heyn. “In everything we do, we feel it is important for the brand to showcase an authentic point of view. The Bryan brothers align with our brand’s heritage and relate to our core customer base. The Bryan brothers’ approach to golf is perfect for Southern Tide. We are thrilled to see where this relationship takes us.”

Michelin unveils three new Ultraflex tires Michelin, headquartered in Greenville, introduced three new tires for North American farmers that are designed with Michelin Ultraflex Technology, a tire and casing design that promotes soil protection, fuel savings, longer service life and greater endurance. Michelin featured the new tire models, designed for sprayers and harvesting equipment, at the Canada Farm Progress Show in Regina, Saskatchewan.

“As farm equipment has grown larger and heavier in recent years, farmers now cover more acres per day, but soil compaction has become a greater challenge,” said Mike Pantaleo, customer engineering support for Michelin Agriculture tires. “Michelin Ultraflex tires address this issue by operating at lower pressures than standard radial tires, therefore producing a larger footprint. This larger footprint distributes the weight of the machine over the largest area possible to reduce compaction.”

Carolina Financial Corporation merges with Congaree Bancshares Inc. Carolina Financial Corporation, which has a presence in Greenville, completed its merger with Congaree Bancshares Inc., headquartered in Cayce, S.C. >>

06.24.2016

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upstatebusinessjournal.com

THE FRESHEST FACES ON THE BUSINESS LANDSCAPE

>> Under the terms of the acquisition agreement, Congaree shareholders will have the right to receive $8.10 for each share of Congaree common stock, payable at their election and subject to certain limitations, in cash or in shares of Carolina Financial common stock based upon a fixed exchange ratio of 0.4806. Per the agreement, 40 percent of the consideration will be paid in cash, and the balance (60 percent) will be in newly issued shares of Carolina Financial Corporation common stock.

As part of the merger agreement, Congaree’s bank subsidiary, Congaree State Bank, has merged with CresCom Bank, a South Carolina bank and the wholly owned banking subsidiary of Carolina Financial. Carolina Financial plans to complete systems integration in July.

| NEW TO THE STREET | 29

Open for business 1

Photos Provided

Engineered Plastic Components Inc. launches Anderson County operations Iowa-based Engineered Plastic Components Inc. (EPC), a provider of plastic injection molded products, selected Anderson County for the company’s new operations. The $5.3 million investment is expected to create 43 new jobs. The company will be moving its new operations into an existing building, which is located at 105 Clemson Research Blvd., Anderson.

“We are very excited about the opportunity that exists in South Carolina,” said Reza Kargarzadeh, EPC CEO. “Anderson is well-positioned to assist us in achieving the growth goals we have for our company.”

BASF Seneca to expand Oconee County facility BASF Corporation, a supplier of environmental and process catalysts headquartered in New Jersey, will expand its operations in Oconee County. The expansion will result in $60 million in new capital investment.

BASF is investing in new equipment and machinery for its Seneca facility, which is located at 554 Engelhard Drive. The operation currently employs 360 employees.

“BASF’s global reach and cutting-edge innovation make it an international leader in the chemicals industry,” said Paul Cain, Oconee County Council chairman. “We graciously welcome this substantial investment from one of our wonderful corporate citizens who has found success in Oconee for more than 25 years. This investment is further confirmation that Oconee County’s workers and business environment are world-class, and we will continue to invest in infrastructure and programs that businesses need to be successful in an ever-changing world.”

1. Ink N Ivy recently opened at 21 E. Coffee St., Greenville. The restaurant specializes in American cuisine. For more information, visit inknivy.com.

CONTRIBUTE: Know of a business opening soon?

Email information to lgood@communityjournals.com.

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30 | #TRENDING |

UBJ

INFORMATION YOU WANT TO KNOW

OVERHEARD @ THE WATERCOOLER JUNE 17, 2016

| VOL. 5 ISSUE 25

> Virginia Lockman Adair “I love the Aldi in Boiling Springs.”

S TRAILBLAZER

> Sonya Ferguson Collins “I can’t wait!!!!”

— and helped spark an abandoned building biologist walked into the Swamp Rabbit Café & Grocery An engineer and a food revolution with Greenville’s local

> Pat Mabry “Where will it be?” > Ramona Wirth “That would be awesome!!!”

RE: TROPICAL GRILLE BRINGING CUBAN DISHES TO MAULDIN > Scott Meadows “Thank God! I just moved to Mauldin and it can use some more restaurants!” > Beth Wells Rainey “Every time I work in Miami I come back to Mauldin craving Cuban food. Thanks for this!” > Brad Carr “Cuban Chop-curry on the chicken, hot sauce on beans!” > Lindsay Phillips “Wish they would come to Taylors.” > Sara Fladger “Anderson needs a Tropical Grille.”

>> CONNECT WITH US We’re great at networking.

LINKEDIN.COM/COMPANY/ UPSTATE-BUSINESS-JOURNAL FACEBOOK.COM/ THEUPSTATEBUSINESSJOURNAL @UPSTATEBIZ @S_JacksonCJ

@daviddykes

@AndersonTrev

@melindagyoung

@andrewmooreGVL

@EPietras_CJ

@clandrum

@theladylety @jerrymsalley

06.24.2016

BIZ BUZZ

Distilled commentary from UBJ readers

RE: ALDI PLANS TO ADD A THIRD STORE IN SPARTANBURG

|

DIGITAL FLIPBOOK ARCHIVE >> The layout of print meets the convenience of the Web. Flip through the digital editions of any of our print issues, and see them all in one place. >> upstatebusinessjournal. com/past-issues

>> WEIGH IN @ THE UBJ EXCHANGE Got something to offer?

Get it off your chest.

We’re looking for expert guest bloggers from all industries to contribute to the UBJ Exchange. Send posts or blog ideas to dcar@communityjournals.com.

> Elizabeth Facen “One in Boiling Springs would be great also.”

RE: INSIDE THE LOCAL FOOD REVOLUTION WITH THE FOUNDERS OF SWAMP RABBIT CAFÉ > John Malik “So there was no local food movement prior to the Swamp Rabbit Café opening? The local food movement was sparked by Kelly Baird and her Bistro Europa many years ago. She was the first one in Greenville to reach out to local farmers and producers. While I’m a huge fan of the Swamp Rabbit Grocery, it represents evolution, hardly a revolution. To say otherwise does an enormous disservice to those that put the wheel in motion when there was so much more resistance.”

RE: MICHAEL KERSKI, GREENVILLE PLANNING AND DEVELOPMENT DIRECTOR, LEAVING FOR MINNESOTA > Edie Parrott “What a terrible loss for Greenville! I really appreciate his support for the West End.” > Justus Downey “Great state.” > Marsha Pittman White “Say it ain’t so…”

The top 5 stories from the past week ranked by shareability score

>> 3,012 1. Aldi plans to add a third store in Spartanburg

>> 1,500 2. Tropical Grille bringing Cuban dishes to Mauldin

>> 502 3. Inside the local food revolution with the founders of Swamp Rabbit Café

>> 101 4. Michael Kerski, Greenville planning and development director, leaving for Minnesota

>> 97 5. CommunityWorks receives grant from Wells Fargo

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UPSTATEBUSINESSJOURNAL.COM

06.24.2016

|

upstatebusinessjournal.com

DATE

EVENTS YOU SHOULD HAVE ON YOUR CALENDAR

| PLANNER | 31

EVENT INFO

WHERE DO I GO?

HOW DO I GO?

Minority Business and Networking Breakfast

Spartanburg Marriott 299 N. Church St., Spartanburg 8-10 a.m.

Cost: $10 Register: bit.ly/mibiz-june2016

Greenville Chamber Small Business Summit

Embassy Suites Golf Resort & Conference Center 670 Verdae Blvd., Greenville 8 a.m.–1 p.m.

Cost: $50 Register: bit.ly/bizsummit-june2016

HTI Organizational Solutions Friday Morning Coffee: Legalization of Marijuana and its Effect in the Workplace

Human Technologies Inc. 105 N. Spring St., Suite 200, Greenville 8:30–9:30 a.m.

Cost: Free Register: bit.ly/hticoffee-july2016

7/6

Clemson University MBA Info Session

Clemson One Building 1 N. Main St., Greenville 5:30–7 p.m.

Cost: Free Register: bit.ly/mba-july2016

Tuesday

Spartanburg Chamber Doing Business Better: What the New Overtime Rules Mean for You workshop

Spartanburg Area Chamber of Commerce 105 N. Pine St., Spartanburg 8:30–10:30 a.m.

Cost: $10 Chamber members $20 nonmembers Register: bit.ly/dbb-july2016

Friday

6/24

Friday

7/1 Wednesday

7/12

CONTRIBUTE: Got a hot date? Submit event information for consideration to events@upstatebusinessjournal.com.

ART & PRODUCTION

IN THIS WEEK’S ISSUE OF UBJ? WANT A COPY FOR YOUR LOBBY?

VISUAL DIRECTOR

JULY 15 THE HEALTH CARE ISSUE The business of cancer and other medical matters.

Will Crooks 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

PRESIDENT/CEO

Mark B. Johnston mjohnston@communityjournals.com

UBJ PUBLISHER

Ryan L. Johnston rjohnston@communityjournals.com

EDITOR-IN-CHIEF

Jerry Salley jsalley@communityjournals.com

ASSOCIATE EDITOR

Emily Pietras epietras@communityjournals.com

STAFF WRITERS

LAYOUT

UBJ milestone

UBJ milestone jackson Marketing Group’s 25 Years 1988 Jackson Dawson opens in Greenville at Downtown Airport

Bo Leslie | Tammy Smith

1988

with a majority of them utilizing the general aviation airport as a “corporate gateway to the city.”

In 1997, Jackson and his son, Darrell, launched Jackson Motorsports Group. The new division was designed to sell race tires and go to racetracks to sell and mount the tires. Darrell Jackson now serves as president of the motorsports group and Larry Jackson has two other children and a son-in-law who work there. Jackson said all his children started at the bottom and “earned their way up.”

Jackson kept the Jackson-Dawson branches in Detroit and others in Los Angeles and New York until he sold his portion of that partnership in 2009 as part of his estate planning.

The company now operates a small office in Charlotte, but its main headquarters are in Greenville in a large office space off Woodruff Road, complete with a vision gallery that displays local artwork and an auditorium Jackson makes available for non-profit use. The Motorsports Group is housed in an additional 26,000 square feet building just down the street, and the agency is currently looking for another 20,000 square feet.

Jackson said JMG has expanded into other verticals such as financial, healthcare, manufacturing and pro-bono work, but still has a strong focus on the auto industry and transportation. It’s

OPERATIONS Holly Hardin

ADVERTISING DESIGN Kristy Adair | Michael Allen

1997 Jackson Dawson launches motorsports Division 1993

1990 Jackson Dawson

acquires therapon marketing Group and moves to Piedmont office Center on Villa.

>>

Chairman larry Jackson, Jackson marketing Group. Photos by Greg Beckner / Staff

Jackson Marketing Group celebrates 25 years By sherry Jackson | staff | sjackson@communityjournals.com

Solve. Serve. Grow. Those three words summarize Jackson Marketing Group’s guiding principles, and according to owner Larry Jackson, form the motivation that has kept the firm thriving for the past 25 years.

Jackson graduated from Bob Jones University with a degree in video and film production and started his 41-year career in the communications industry with the U.S. Army’s Public Information Office. He served during

Vietnam, where he said he was “luckily” stationed in the middle of Texas at Fort Hood.

He left the service and went to work in public affairs and motorsports at Ford Motor Company in Detroit.

After a stint at Bell and Howell, where he was responsible for managing Ford’s dealer marketing and training, the entrepreneurial bug hit and he co-founded Jackson-Dawson Marketing Communications, a company specializing in dealer training and product launches for the auto industry in 1980.

In 1987, Jackson wanted to move back south and thought Greenville would be a good fit. An avid pilot, he

learned of an opportunity to purchase Cornerstone Aviation, a fixed base operation (FBO) that served as a service station for the Greenville Downtown Airport, providing fuel, maintenance and storage.

In fact, when he started the Greenville office of what is now Jackson Marketing Group (JMG) in 1988, the offices were housed on the second floor in an airport hangar.

“Clients would get distracted by the airplanes in the hangars and we’d have to corral them to get back upstairs to the meeting,” Jackson said.

Jackson sold the FBO in 1993, but says it was a great way to get to know Greenville’s fathers and leaders

>>

2003 motorsports Division acquires an additional 26,000 sq. ft. of warehouse space

1998 1998 Jackson Dawson moves to task industrial Court

also one of the few marketing companies in South Carolina to handle all aspects of a project in-house, with four suites handling video production, copywriting, media and research and web design.

Clients include heavyweights such as BMW, Bob Jones University, the Peace Center, Michelin and Sage Automotive. Recent projects have included an interactive mobile application for Milliken’s arboretum and 600-acre Spartanburg campus and a marketing campaign for the 2013 Big League World Series.

“In my opinion, our greatest single achievement is the longevity of our client relationships,” said Darrell Jackson. “Our first client from back in 1988 is still a client today. I can count on one hand the number of clients who have gone elsewhere in the past decade.”

Larry Jackson says his Christian faith and belief in service to others, coupled with business values rooted in solving clients’ problems, have kept

2009 Jackson Dawson changes name to Jackson marketing Group when larry sells his partnership in Detroit and lA 2003

2009-2012 Jackson marketing Group named a top BtoB agency by BtoB magazine 4 years running

him going and growing his business over the years. He is passionate about giving back and outreach to non-prof non-profits. The company was recently awarded the Community Foundation Spirit Award.

The company reaffirmed its commitment to serving the community last week by celebrating its 25th anniversary with a birthday party and a 25-hour Serve-A-Thon partnership with Hands on Greenville and Habitat for Humanity. JMG’s 103 full-time employees worked in shifts around the clock on October 22 and 23 to help construct a house for a deserving family.

As Jackson inches towards retirement, he says he hasn’t quite figured out his succession plan yet, but sees the companies staying under the same umbrella. He wants to continue to strategically grow the business.

“From the beginning, my father has taught me that this business is all about our people – both our clients and our associates,” said his son, Darrell. “We have created a focus and a culture that strives to solve problems, serve people and grow careers.”

Darrell Jackson said he wants to “continue helping lead a culture where we solve, serve and grow. If we are successful, we will continue to grow towards our ultimate goal of becoming the leading integrated marketing communications brand in the Southeast.”

2011 Jackson marketing Group/Jackson motorsports Group employee base reaches 100 people

2008 2012 Jackson marketing Group recognized by Community Foundation with Creative spirit Award

pro-bono/non-proFit / Clients lients American Red Cross of Western Carolinas Metropolitan Arts Council Artisphere Big League World Series The Wilds Advance SC South Carolina Charities, Inc. Aloft Hidden Treasure Christian School

CoMMUnitY nit inVolVeMent nitY in olV inV olVe VeMent & boarD positions lArry JACkson (ChAirmAn): Bob Jones University Board chairman, The Wilds Christian Camp and Conference Center board member, Gospel Fellowship Association board member, Past Greenville Area Development Corporation board member, Past Chamber of Commerce Headquarters Recruiting Committee member, Past Greenville Tech Foundation board member

AUGUST 19 THE CAREERS ISSUE Finding – and keeping – the right job.

David Jones (Vice President Client services, Chief marketing officer): Hands on Greenville board chairman mike Zeller (Vice President, Brand marketing): Artisphere Board,

Metropolitan Arts Council Board, American Red Cross Board, Greenville Tech Foundation Board, South Carolina Chamber Board

eric Jackson (Jackson motorsports Group sales specialist): Salvation Army Boys & Girls Club Advisory Board

November 1, 2013 Upstate bUsiness joUrnal 21

20 Upstate bUsiness joUrnal November 1, 2013

AS SEEN IN

NOVEMBER 1, 2013

CLIENT SERVICES Anita Harley | Jane Rogers

EXECUTIVE ASSISTANT Kristi Fortner

HOW TO CONTRIBUTE STORY IDEAS:

Order a reprint today, PDFs available for $25. For more information, contact Anita Harley 864.679.1205 or aharley@communityjournals.com

DIGITAL AND SOCIAL MEDIA

Trevor Anderson, David Dykes, Lety Good, Caroline Hafer, Andrew Moore, Sherry Jackson, Cindy Landrum

ideas@upstatebusinessjournal.com

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CONTRIBUTING WRITER

NEW HIRES, PROMOTIONS, AND AWARDS:

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MARKETING & ADVERTISING SALES REPRESENTATIVES Nicole Greer, Donna Johnston, Annie Langston, Lindsay Oehmen, Emily Yepes

DIRECTOR OF EVENTS & ACCOUNT STRATEGY Kate Madden

events@upstatebusinessjournal.com

UBJ welcomes expert commentary from business leaders on timely news topics related to their specialties.

Guest columns run 700-800 words.

Contact Editor-in-Chief Jerry Salley at jsalley@communityjournals.com to submit an article for consideration.

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SEPTEMBER 16 THE DESIGN ISSUE A look at designers, crafters and makers in the Upstate.

Got any thoughts? Care to contribute? Let us know at ideas@ upstatebusinessjournal.com.

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