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The

AUGUST 3, 2018 | VOL. 7 ISSUE 31

FINANCE ISSUE

BofA ON THE MOVE 5 QUESTIONS FOR YOUR FINANCIAL ADVISER & MORE

EQUITY AND DEBT CAPITAL OPTIONS ART SEAVER AND KIN BRITTON WEIGH IN


THE RUNDOWN |

TOP-OF-MIND AND IN THE MIX THIS WEEK

VOLUME 7, ISSUE 31 Featured this issue: How asset-based lending can help Upstate building-supply industry..........17 How much financial success is enough?...................................................................18 Equity and debt capital, explained………….................................................................19

The Southern Growl, a gastropub with an extensive craft beer selection, announced last week that it will move from 6 S. Buncombe Road in Greer to a nearby 10,000-square-foot space at 155 N. Buncombe Road. The new location will have an in-house brewery and a spacious outdoor area. Read more in this week’s Greenville Journal Feast column.

WORTH REPEATING “If feeling successful is always obtaining larger and more expensive things, it can never be attained.” Rob DeHollander, Page 18

“Company size, stage, and sector are starting points for determining what form of outside capital is appropriate.” Will Lucas, Page 19

“There is no end to the places we can go to find opinions on what to do with our money.” Jeff Herman, Page 20 2

UBJ | 8.3.2018

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On BMW’s price hikes “China is BMW’s biggest market. The German company sold 560,000 cars there last year — more than the United States and Germany combined.” CNNMoney’s Daniel Shane, on BMW’s Monday announcement that it has increased the prices of its X5 and X6 models by 4 percent and 7 percent, respectively, in China. A company spokeswoman said the price hikes were implemented because of the “increased import duty for U.S.-made cars.”


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Leading the Upstate in Business News – Visit us online – UpstateBusinessJournal.com – Get the latest news delivered to your INBOX – UpstateBusinessJournal.com/email


FROM THE UPSTATE BUSINESS JOURNAL TEAM

| UP FRONT

A note from the publisher Dear loyal reader of UBJ, As the Upstate Business Journal heads into its seventh year of publication, I am pleased to announce we plan some changes and enhancements to the brand in print and online. Our research tells us that business readers are connected to and, more importantly, invested in the growth and development of Greenville and the Upstate. They want a broad range of business coverage — from breaking news to an indepth understanding of major issues, such as commercial real estate development, manufacturing updates, and retail growth, and the people and businesses behind the headlines. Readers want to know what this means to them, their business, and our community. Our plan is to utilize the print edition of UBJ to do more in-depth pieces on local businesses and

In order to accomplish these objectives, UBJ will publish in print every other week starting with the Aug. 3 issue. This allows our business writers, contributors, and editors the opportunity to better flesh out coverage of major issues and trends. With this move, we have allocated more resources to our digital distribution of business news to keep readers informed of what is happening now. Speaking for our entire news team, we appreciate your loyal support of UBJ. As Greenville and the Upstate continue to grow, our coverage will grow with them. significant local developments while relying on the UBJ Inbox weekly newsletter, breaking news emails, and the UBJ website, upstatebusinessjournal.com,  to communicate more timely business news information. Focusing

our online efforts on business news as it’s happening and providing more robust coverage of local business developments in print allows us to maximize the print and digital mediums to their full potential.

Sincerely, Mark B. Johnston Publisher

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NEWS |

INFORMATION YOU WANT TO KNOW

RETAIL & HOSPITALITY

Eagle Mountain Winery to open in early 2019 in northern Greenville County ARIEL TURNER | STAFF

aturner@communityjournals.com The partners of the Equus Wine Club at Lake Keowee, a venture that was announced in 2015 but never completed, have shifted course to bring a new winery, under the name Eagle Mountain Winery LLC, to Greenville County. Announced June 2, Eagle Mountain Winery will sit on a 54-acre parcel of land in northern Greenville County, near Landrum, and is set to open in early 2019. The property is located on Highway 11, between Highway 25 and Highway 101, and features streams, small waterfalls, southwest-facing hillsides, and 40-mile mountaintop views. “The plan for Equus was to build a private social club with the members having an interest in wine, food, equestrian, and lake activities,” says Russ Gardiner, who developed the

Equus concept and is now Eagle Mountain Winery CEO and managing partner. “It was strongly endorsed by 322 individuals who signed the letter of intent to join the club, but we fell short of the required 500 individuals we needed for the club to be fully funded without any debt. Therefore, we focused on our primary interest, which was to bring a world-class boutique winery to South Carolina, and Eagle Mountain Winery was born.” The land has already been cleared for the vineyards to be planted, and the winery is in the developmental stages. For the first few years, Eagle Mountain will produce wine from grapes grown in Napa, Sonoma, Lake, Mendocino, Monterey, and other well-known areas in California. The production of estate wines from the South Carolina vineyards will begin in three to four years, once the grapevines have a chance to mature.

“The wines from Eagle Mountain Winery will have exceptional power,” says George Bursick, director of winemaking. “We are sourcing the best grapes from the finest vineyards in California and finding creative ways to plant and grow cabernet sauvignon and cabernet franc varietal grapes on our estate in South Carolina. Additionally, we have designed a stateof-the-art winery to ensure the highest quality of wine on a consistent basis.” Together, Bursick and Gardiner have a combined 60 years of experience in the wine industry. Bursick has spent more than 35 years making wines at some of California’s largest wineries, including a 21-year stint at Ferrari-Carano. In 1986, while Bursick was director of winemaking at Ferrari-Carano, Wine Spectator magazine

named the 1985 Ferrari-Carano Chardonnay Wine of the Year. In addition to Gardiner and Bursick, more than 30 local investors are helping fund Eagle Mountain Winery. The winery will be open to the public seven days a week and be available for weddings and private events during off hours. Monthly food, wine, music, and art events will also be open to the public. Additional amenities will include bocce ball courts, walking trails, fire pits, and an outdoor sculpture garden.

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RETAIL & HOSPITALITY

Rick Erwin Dining Group announces new seafood restaurant at Haywood Mall ARIEL TURNER | STAFF

aturner@communityjournals.com Rick Erwin Dining Group Announced Aug. 2 it has signed a 10-year lease for a new restaurant in Haywood Mall, with a planned early-2019 opening in the 5,500-square-foot former Palmetto Moon retail space fronting the parking lot on the lower level. This will be the eighth restaurant for the Greenville-based group with restaurants also in Spartanburg and Clemson. The yet-to-be-named restaurant situated at the mall entrance between Sears and the Apple Store will be an upscale casual seafood concept with a small, chef-driven, seasonally changing menu, full bar, and an outdoor patio that will be shielded from the parking

lot, says Michael Ivey, Rick Erwin CFO and partner. “I was not necessarily interested in a restaurant near the mall,” he says. “It took me getting an economic lesson on the success and the stability of our mall to put those stigmas to rest.” He says the goal is for the restaurant and bar, which will be incorporated into the outdoor patio, to become a social scene, and draw people from outside the mall rather than catering only to shoppers. As for the name, Ivey says the short list is following a trend the group started with its two most recent restaurants in Spartanburg – The Standard and Level 10 – neither of which are branded with the Rick Erwin’s name or logo. “We want to be sure we name this child right,” he says.

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NEWS |

INFORMATION YOU WANT TO KNOW

RETAIL & HOSPITALITY

Mountain Goat cafe and bike shop opens ARIEL TURNER | STAFF

aturner@communityjournals.com A new coffee shop with a unique name and purpose has opened this week at 120 Shaw St., Greenville, across from the new Ballentine Food Service Equipment building at the corner of Shaw and Rutherford streets. Mountain Goat, a cafe and bike shop, is a new venture from the founders of the outreach ministry GOAT (Great Outdoor Adventure Trips) and its funding generator Mountain Goat Climbing Gym. The gym at 61 Byrdland Drive closed in June so efforts could be put toward the coffee shop. GOAT founder Ryan McCrary says they are working with an undisclosed partner on opening another climbing gym in the Greenville area, but he could not reveal further details other than that it will not necessarily function as part of GOAT or a nonprofit.

The new 2,400-square-foot cafe in a former auto-repair shop is divided into three distinct spaces. About 400 square feet on the side of the building closest to Rutherford Street is the bike repair shop, where the students involved in GOAT and residents of the surrounding neighborhood can get their bikes repaired for free. The leftmost 200 square feet is a designated space for after-school tutoring, which is a service GOAT also offers. The cafe sits in the middle, and aside from the La Marzocco espresso machine on the counter, it’s a no-frills space with a concrete floor and white walls that can accommodate 87 customers. Four glass garage doors facing the parking lot flood the space with natural light. The coffee shop serves locally roasted Methodical Coffee, canned beer and wine, and pastries from Upcountry Provisions. It also provides a safe after-school

The cafe, which can accomodate 87 customers, is a no-frills space with a concrete floor and white walls. Will Crooks/Upstate Business Journal space for the under-resourced students GOAT serves to receive tutoring and eventually work, either in the bike-repair shop or the cafe. McCrary says the location has caused some discussion. “My concern going into this was that there might be some feelings of gen-

trification with a bunch of white people coming in to drink fancy coffee and beer,” McCrary says. But, he says, local residents have been extremely positive about the project, and the goal is to keep prices low enough to be affordable. Aside from being used as a cut-

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through from the North Main area to Swamp Rabbit Café & Grocery or Hampton Station, most nonresidents have had little reason to drive through this particular neighborhood. “I think it’ll be a cool way to, hopefully, bridge the gap between the two neighborhoods,” McCrary says. Planned hours of operation are 7 a.m.-9 p.m. Mondays through Saturdays. Limited Sunday hours may be added. In 2008, McCrary began leading outdoor trips for underprivileged chil-

| NEWS

dren on the weekends. Those trips soon grew to a full-blown nonprofit under the name GOAT. Aside from the outdoor adventures, GOAT’s programs have provided a pathway for at-risk students to engage with a trained mentor and grow to earn actual jobs at GOAT, previously at the rock-climbing gym. The day-trips were previously funded by the for-profit climbing gym, and now the coffee shop takes up that mantle. Local corporate partners, such as Dapper Ink and The Landmark Project, are also financial contributors.

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COVER |

ART SEAVER, SOUTHERN FIRST

‘The Value of Serving Others’ Southern First Bank continues record-setting run with 2018 Q2 earnings

Despite increasing competition throughout the region, Green‘Humble beginnings’ ville’s Southern First Bank continued to generate record earnings Seaver, who has more than 25 years of commercial banking in the first half of the year. experience in the Upstate, established Southern First in 2000 with Southern First Bancshares Inc., the holding company for $11.5 million in capital from about 400 investors throughout the Southern First Bank, reported its latest earnings results earlier Greenville community. this week, posting a 53 percent increase in net income during the Southern First has since become the third-largest bank headsecond quarter of 2018. quartered in South Carolina, with nine offices in the Greenville, The bank said its net income to common shareholders increased Columbia, and Charleston markets. to $5.5 million, or 71 “We have always been proud of our humble cents per diluted share, beginnings and built our bank on the from $3.6 million, or value of serving others,” Seaver told “Our bank is laser-focused 49 cents per diluted the Upstate Business Journal during share, during the same a recent interview. “The communion the client experience and period last year. Its net ty recognizes our bankers as supunderstands that clients income increased 68 porting the Greenville communiappreciate consistency, percent to $5.2 million, ty as our mission continues to be or 67 cents per diluted ‘impacting lives in the commuprofessionalism, accessibility, share, during the first nities we serve.’” simplicity, competitiveness, and quarter of 2018. In Greenville County, Souththe peace of mind that their For the six months ern First ranks fifth in deposit ended June 30, Southbanker will be there tomorrow.” market share, according to the ern First said its net latest data from the Federal – Art Seaver, CEO, Southern First income was $10.7 Deposit Insurance Corp. The million, or $1.39 per bank trails only its largest diluted share, a nearly competitors — Wells Fargo, 60 percent increase compared with $6.7 million, or 95 cents per Bank of America, BB&T Corp., and TD diluted share, during the same period last year. Bank. Southern First said its total revenue increased more than 16 With more than 30 banks operating percent to $17.4 million during the second quarter, compared in Greenville, Southern First has with $14.9 million the year before. distinguished itself with a relation“I am incredibly proud of the talent and unique culture of our ship-driven approach to banking, team as we generated record earnings,” Southern First CEO Art according to Seaver. Seaver said. “We continue to see strong momentum in terms of “The banking market has always core deposits, loans, and mortgage income.” been competitive and always will

THE FINANCE ISSUE 10

UBJ | 8.3.2018


ART SEAVER, SOUTHERN FIRST

| COVER

Southern First Second-Quarter Snapshot • Gross loans increased almost 18 percent to $1.53 billion during the quarter, compared with $1.3 billion during the same quarter a year ago. • Total deposits increased 21 percent to $1.57 billion during the quarter, compared with $1.3 billion during the same quarter a year ago. • Total core deposits, which exclude out-of-market deposits and time deposits of $250,000 or more, increased to $1.34 billion during the second quarter of 2018. • Total shareholder equity was $160.9 million for the quarter, compared with $142.7 million during the same quarter a year ago.

be,” Seaver said. “Our bank is laser-focused on the client experience and understands that clients appreciate consistency, professionalism, accessibility, simplicity, competitiveness, and the peace of mind that their banker will be there tomorrow.” Seaver added that his company’s focus on customer service has maintained over the years thanks to its adoption of a unique expansion philosophy that empha-

sizes the recruitment of veteran bankers who know their markets and can bring longtime clients with them. Since opening, Southern First has not only expanded into other markets in South Carolina but also opened a number of offices in North Carolina and Georgia. The bank began doing business outside of South Carolina for the first time in 2016 with the opening of an office in Raleigh, N.C. It has since opened offices in Atlanta and Greensboro, N.C. “Our expansion philosophy has always been — right market, right time, but only with the right bankers,” Seaver said. “We are always building relationships with talented bankers and have added several over the past year in every one of our markets.” Seaver pointed to the Southern First office in Greensboro as a prime example of his expansion philosophy at work. Southern First’s assets increased more than 16 percent to $1.79 million during the second quarter of 2018, from $1.54 million during the same period a year ago. As of July 26, the bank’s shares were priced at $44.20 a share. “It took our company about 14 years to reach $1 billion in size. We will reach $2 billion in less than four years later, so our momentum in growing client relationships has never been stronger,” Seaver said. For more information, visit southernfirst.com.

8.3.2018 | upstatebusinessjournal.com

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THE FINANCE ISSUE

HOW DO GREENVILLE COUNTY BANKS STACK UP? 2017 Institution Rank (Headquarters) 1 2 3 4 5 6 7 8 9 10

2017 Total Deposits in Market ($M)

2017 Total Market Share (%)

2,240.1 2,008.7 1,346.0 1,006.1 781.3 615.7 556.2 511.5 445.7 394.9

19.35 17.35 11.63 8.69 6.75 5.32 4.80 4.42 3.85 3.41

Wells Fargo & Co. (California) Bank of America Corp. (North Carolina) BB&T Corp. (North Carolina) Toronto-Dominion Bank (Ontario) Southern First Bancshares Inc. (South Carolina) Travelers Rest Bancshares Inc. (South Carolina) South State Corporation (South Carolina) SunTrust Banks Inc. (Georgia) United Community Banks Inc. (Georgia) First Citizens Bancshares Inc. (North Carolina)

Source: S&P Global Market Intelligence

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COVER |

KIN BRIT TON, CAPITAL BANK

“The GreenvilleSpartanburg market accounts for about 20 percent of the total deposits available in South Carolina. It’s a tremendous growth opportunity for us.” Kin Britton

Fabric of your Community Kin Britton named new Capital Bank market president for Upstate WORDS BY ANDREW MOORE 14

UBJ | 8.3.2018


KIN BRIT TON, CAPITAL BANK

A

| COVER

its, $27 billion in loans, and more than 350 branches in Tennessee, North Carolina,

senior executive with more than 30 years of commercial banking experience will lead Capital Bank’s expansion efforts throughout the Upstate. Kin Britton, who joined Capital Bank in 2010 as the commercial team leader and senior vice president, has been promoted to Upstate market president, according to a news release. He will be responsible for “all lines of business,” including private client, commercial, and small-business banking, the release said. Britton, who earned a Bachelor of Science degree in business administration from the University of South Carolina, began his career in 1985 with Charlotte, N.C.-based Bank of America, where he eventually became senior

vice president. Prior to joining Capital Bank, Britton was senior vice president of NBSC, a division of Synovus Bank. His promotion at Capital Bank comes just nine months after First Horizon National Corp., the parent company of First Tennessee Bank, finalized its multibillion-dollar acquisition of Capital Bank Financial Corp., the parent company of Capital Bank. Following the merger, First Horizon elected to keep Capital’s name in markets outside of Tennessee in the interest of brand recognition, according to the release. Most of the conversion involved internal and technical issues. The combined institution has about

How would you characterize Capital Bank?

market accounts for about 20 percent of the total deposits available in South Carolina. It’s a tremendous growth opportunity for us.

always experienced with customers and clients is that relationship-based approach.

What kind of growth opportunities

the horizon for the banking industry?

You would consider us a Southeastern regional bank. However, we push a lot of the decision-making authority down to as close to the customer as possible. I have significant authority to make credit decisions. We try to retain that communitybank aspect. … You’re always going to be a part of the fabric of your community.

How has the merger with First Horizon impacted Capital Bank? We had our challenges like any conversion does. Having said that, we’ve retained 100 percent of our team. To my knowledge, we have not lost any of our clients. What it brings to the table is a larger suite of certain products. It doesn’t really change the day to day of what we do. But it does bring some other things through our sister corporations. … There were enhancements to our online banking, for example. For larger customers, we bring different levels of expertise in franchise finance [and] health care lending. We also bring a bigger investment-advisory platform.

What are your goals as Capital Bank’s new Upstate market president?

Our goal would be to expand our market presence. … The Greenville-Spartanburg

$40 billion in assets, $32 billion in depos-

do you see in the Upstate?

We were very much focused on a commercial and retail bank with Capital Bank. We were a young bank, and we didn’t have the same broad platform that we now do as part of the First Tennessee-First Horizon Corp., so we’ll be looking to flesh outside of that — kind of what you would think of the core of making business loans and retail loans and trying to expand that footprint both with people and physical locations. Our office in Greenville is full, so we’ll need additional space. In what form and how fast is yet to be determined, but we will be expanding.

South Carolina, Florida, Mississippi, Georgia, Texas, and Virginia, according to the release. Rick Manley, mid-Atlantic region president for Capital Bank and First Tennessee Bank, said Britton would continue to lead the Upstate market “in all aspects of business development” and “guide his team through this acquisition.” “I look to him to focus on client retention and expansion throughout this area,” he said. The Upstate Business Journal recently sat down with Britton to discuss his new role and plans for Capital Bank. The following transcript has been edited for brevity and clarity.

Are there any economic worries on

I would say the biggest concern is the rising interest rate environment [and] what impact that has on margins [and] customer borrowing patterns. … And certainly, given the reliance of South Carolina, in general, and the Upstate, in particular, with companies such as BMW and Michelin, any unintended consequences of a trade war certainly could have an impact. BMW is already discussing having to increase the price on its sport-activity vehicles being shipped to China.

Competition for deposits has

What trends do you see emerging in the region’s banking market?

increased from banks and nonbanks over the years. How is Capital Bank addressing that issue?

Technology continues to change the way we deliver information and customers access information, so the continual investment in the technology side of the bank will continue. Having said that, one thing never changes, and that is people value relationships. And while you can deliver certain information and deliver certain products and enhance products with technology, the No. 1 value that I’ve

There’s always somebody running a special. … We have to be mindful about paying a fair rate to a customer but at the same time being responsible to our shareholders. … It’s a never-ending balancing act. … You have to be proactive in your customer base and make sure you’re retaining existing customers while trying to attract new customers.

THE FINANCE ISSUE 8.3.2018 | upstatebusinessjournal.com

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THE FINANCE ISSUE

Bank of America announces plan to move to Camperdown development in 2020 ARIEL TURNER | STAFF

aturner@communityjournals.com Bank of America has signed a new long-term lease for approximately 32,000 square feet of space in the Camperdown building being constructed at 423 S. Main St. in Greenville. Employees will begin moving into the new location at the beginning of 2020, consolidating two offices currently located at 101 N. Main St. and 300 N. Main St. The 4-acre Camperdown development at South Main and Broad streets is being developed by Greenville-based Centennial American Properties. “We’re excited to announce the second-largest bank in the country as a tenant,” said Brody Glenn,

owner of Centennial American Properties. “These are the exact type tenants we are looking for in the Camperdown office building.” As to Bank of America’s new neighbors, announcements will be forthcoming in the next few months, Glenn said. Bank of America said there are no immediate changes for customers. The new lease will include signage at the top of the building on the south side facing Falls Park on the Reedy and a retail presence at ground level including ATMs. “Across the country, Bank of America is enhancing opportunities to deliver one company and to drive responsible growth by bringing teams together, and we are excited to do the same in Greenville,” said Stacy Brandon, Bank of America

Greenville market president. Bank of America’s decision to leave its current locations on Main Street will create vacancies in the Bank of America Building, owned by RealOp Investments, overlooking Bank of America will move into the office building One City Plaza and in the Camperdown development at 432 S. Main St. The Ogletree Build- Rendering by Beau Welling Design ing, which recently sold to Dominion Realty Partners. ments. “While we would certainly “RealOp Investments has a love to see that continue at 101 N. strong relationship with Bank of Main, this provides us the opporAmerica across the Southeast as tunity to rebrand this iconic Class well as downtown Greenville,” said A office tower in the epicenter of Chip Hunt, vice president of asset one of the most dynamic downmanagement for RealOp Investtowns in America.”

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UBJ | 8.3.2018


THE FINANCE ISSUE

Asset-based lending a financing solution for Upstate building-supply industry By JOE GRIFFETH new business relationship officer, asset-based lending, TD Bank serving the Carolinas

As residents can attest, recent growth in the Upstate has been pronounced and can largely be attributed to the influx of corporations, additional job opportunities, and an attractive quality of life. From 2010 through last year, the 10-county region’s population increased 7.2 percent, to 1.46 million people, according to Upstate SC Alliance data. Greenville, the Upstate’s most populous city, has grown 13 percent over that same period, a jump that the U.S. Census Bureau at one point classified as among the fastest in the country. Forecasters estimate the region’s resident numbers will swell to 1.53 million by 2022, and to about 1.75 million by 2040. As the growth continues, the region is seeing fast-paced development in the form of home renovations, new houses and apartments, and new commercial buildings. According to The Market Edge, residential building permits increased 134 percent from 2011 to 2016, while commercial building permits rose 42 percent over the same five-year period. While this growth is welcomed and brings an increase in revenue, employment, and population, it also brings some challenges, specifically for the Upstate building industry, as its traditional financing cycle may not provide the working capital needed to manage the increase in demand for supplies. This,

combined with the effects of tariffs and inflation, requires companies to find ways to maximize working capital during a time of growth. By engaging with a strong, strategic financial partner who brings industry expertise and has the ability to understand the collateral value and business goals, companies can effectively manage their financing needs.

Flexible financing For the Upstate’s building industry, the increase in demand for equipment and supplies requires immediate inventory investments to ensure they can accommodate anticipated orders and stay competitive in the marketplace. As customer demand continues to rise and these companies must buy and store more inventory, there is a need to finance this working capital. To help manage increased costs and the inventory demand, building-supply companies should look to asset-based loans, which offer a flexible and cost-effective credit line by using collateral to fund working capital. Current economic conditions are adding to the financial strain. Rising inflation has increased the price of raw materials, including steel, aluminum, plastics, resin, and lumber. By May of this year, prices for construction materials had risen 5.9 percent year-over-year. Tariffs on steel and lumber have added additional pressure. According to the National Association of Home Builders, the tariff on lumber from Canada has added nearly $9,000 to the price of an average new single-family home since January 2017. Asset-based loans have little or no financial

covenants; instead, they rely on the collateral value to provide funding. In a growing business that experiences cyclical fluctuations, these loans can help companies manage through the cycles without disruption. As the Upstate continues to experience growth and development, and building-supply companies look to meet the increasing demand for materials, companies should look for lenders that bring strength, scale, and experience, but also a personalized approach. These qualities let lenders provide customized financing to best suit borrowers’ needs. In addition, companies should choose lenders that can offer secured revolving lines of credit and term loans, which combine flexibility, convenience, and competitive pricing. Some can provide financing for up to 85 percent of the borrower’s available accounts receivable or of the appraised value of its inventory, which supports business growth. Asset-based lending can be a crucial resource that helps companies in the building industry survive inventory-related challenges and periods of growth. As the Upstate anticipates an influx of more residents and businesses, companies should look to a committed financial partner that understands their business and is reliable and trustworthy to bridge their funding gaps by providing the working capital that building-supply companies need. Joe Griffeth is an asset-based lending originator and relationship manager for TD Bank, providing customized financing solutions to middle-market companies. He lives in Charlotte, N.C. .

KEYNOTE SPEAKER

Polly LaBarre, one of the founders of Fast Company, author Mavericks at Work: Why the Most Original Minds in Business Win, and a co-founder of the Management Lab, a “think-and-do” tank dedicated to rebooting management for the 21st century.

! ED IT G W M IN NO LI EAT ER S ST

PRESENTED presented BY by

GI RE

SEPTEMBER 25, 2018 • 8:00AM – 1:30PM • TD CONVENTION CENTER

SECURE YOUR SPOT

Tickets $60 per person. Tables of 10 also available. Purchase at TenattheTop.org 8.3.2018 | upstatebusinessjournal.com

17


THE FINANCE ISSUE

The American idea of financial success: How much is enough? By ROB DeHOLLANDER managing principal, DeHollander & Janse Financial Group

I recently came across a study that caught my attention. A national bank surveyed Americans about their finances. It posed the question: “What do you feel you need in order to consider yourself successful?” This is a qualitative question and doesn’t lend itself to precise evaluation. However, we all fall somewhere on the bell curve of net worth, income, and standard of living. We can see how our neighbors and friends are doing (or how we think they’re doing), and it’s natural to compare ourselves. That’s where the study really captured my imagination. At every point along the income and net-worth spectrum, respondents said they felt they needed more than they currently had to feel successful. Why is this so? The report examined several areas, and here is a short list included in the report: 1 HOUSING Our home is the place where we grow up, raise families, and make memories. It makes sense that this would be a key component of how successful we feel. However, respondents wanted, on average, a house worth more than two times the amount of their current home, and in some parts of the country, the multiple was higher. Interestingly, it didn’t depend on the size of the current home; on average, each respondent wanted a home twice as large to feel successful. 2 TRANSPORTATION We Americans have a love affair with our cars, and the automobile is one of the most popular status symbols in America. I have a 17-year-old son, and I see his eyes get dreamy whenever an expensive sports car drives by. He’d rather walk to school than be seen driving our family minivan into the school parking lot (it’s a great car, by the way). In the success survey, Americans, on average, felt they needed to own a car worth twice their current car’s value to feel successful. The ideal car averaged $53,000. Again, it didn’t matter where they fell on the spectrum — a more expensive car was the key to feeling successful. 18

UBJ | 8.3.2018

3 TRAVEL We’ve entered a golden age of travel. There are educational trips, charitable vacations, foodie tours, wildlife excursions, grandparent-grandchild-themed trips, and more. The world has never been so accessible. Not surprisingly, travel was the No. 1 item respondents said would make them feel more financially successful. Eighty-seven percent said the ability to take vacations was the best luxury that made them feel financially successful. 4 TIME Time is a funny thing and a great equalizer of the human condition. It is the essential commodity of our lives and the one that can’t be increased. I often tell clients nearing retirement to slow down: “You can always make more money, but you can’t make more time.” We live in a fast-paced, stressful society that demands our time. Therefore, it’s not surprising that a majority of respondents felt that saving time by hiring a service worker was a way for them to feel financially successful. At the top of the list was a housekeeper by 53 percent of the people surveyed (remember Alice from “The Brady Bunch”?). Also included in the list were a gardener, personal trainer, personal chef, and personal assistant.

How much is enough?

The study was interesting and, for me, there are two important lessons. The first is to recognize the innate desire to attain more than we have. Harnessed constructively, this can be a powerful tool that can genuinely make us more successful. But it can also be a trap into which we unwittingly fall. If feeling successful is always obtaining larger and more expensive

things, it can never be attained. I’ve read separate studies that point out that just being alive at this point in time and living in the United States places each of us in the top 2 percent for standard-of-living in human history. That’s something to ponder and for which to be thankful. The second lesson is the classic Stephen Covey principle: Begin with the end in mind. Achieving financial security is obviously closely tied to the American idea of success. However, at some point, pursuing more wealth will not make us happier. Don’t let your feelings get in the way of enjoying the success you already have in your life. Ask yourself, “How much is enough?” You may find you’re already there. Rob DeHollander is a managing partner and co-founder of the DeHollander & Janse Financial Group in Greenville.


THE FINANCE ISSUE

Equity and debt capital: The 2 basic sources of capital for your business By WILL LUCAS senior associate, Azalea Capital

A common challenge many business owners and entrepreneurs face is raising capital to support an expanding enterprise or selling a portion of their ownership interest to diversify their net worth. This process can be frustrating and time-consuming as entrepreneurs are more familiar with operating their businesses than with raising capital. Armed with the right knowledge and support, however, this process can be a win-win for the business owner and his prospective financial partner.

Know your options Several key factors should guide your fundraising process. Company size, stage, and sector are starting points for determining what form of outside capital is appropriate. For example, most startups will pursue capital from friends, family, and angel groups. Certain new businesses may qualify for a microloan program. Businesses with a track record of financial performance will generally have access to more options and cheaper sources of capital, which come in two basic forms: equity and debt capital. Each source of capital has unique characteristics that offer certain advantages and disadvantages depending on your ultimate objectives.

Debt financing Debt financing can provide a low cost of capital depending on the interest rate and repayment terms, while interest expense is typically deductible for tax purposes. But debt also comes with restrictions in terms of financial covenants, liens on company assets, and often a personal guarantee from the owner.

Equity capital Equity capital is a higher, all-in cost of funds that may provide value-added intangibles, such as more patience, flexibility, and long-term value to owners. By selling company stock, owners trade a degree of control for cash, outside expertise, and relationships that may positively impact a business far beyond what a loan may provide. While valuation and terms certainly matter, selecting the right partner with the right chemistry is imperative. Unlike debt, equity does not come with personal guarantees and debt repayment. Instead, investors will often require a seat at the table for strategic decisions such as capital investment, major hires, budgeting, and acquisitions. Investors will perform “due diligence” or verification of the facts about a business, which owners should do as well on potential investors. Understanding and being comfortable with the character, style, and reputation of the firm should guide your decision when choosing an equity partner.

Many business owners think bringing on an equity partner essentially means selling their business. While selling 100 percent of your business is always an option, a partial sale (often called a recapitalization) can be a way for owners to achieve three objectives. First, you inject additional liquidity into your business. Second, you diversify your net worth while retaining a meaningful ownership stake in the company alongside an experienced investor and hopefully value-adding equity partner. This retained ownership stake has the potential to significantly increase in value as the company grows. Third, you can remain actively involved in operating your business and preserve the legacy of the company you’ve built.

Set clear goals When seeking capital, it is important to have clear objectives that align with the amount and type of capital you are seeking. Are you raising an appropriate amount of capital relative to your growth, succession, or estate plans? Raising too much or too little capital could negatively affect the long-term prospects of your business and its future value. Oftentimes, business owners want to raise as much capital as possible because it will provide abundant resources and perhaps increase the likelihood of future success. This instinct is understandable, but the unintended consequences must be considered. Excess debt capital can mean high debt service or restrictions, while too much equity may overly dilute your ownership interest in the business. An excessive inflow of either type can lead to poor capital allocation decisions, such as hiring too quickly and spending too liberally. Raising an appropriate amount of capital brings a healthy discipline to the business, just like living on a budget does for many households.

Summary There are several options for owners looking to raise capital in their businesses. As each option has advantages and disadvantages, choosing the right path is critically important for the future success of the business and your personal aspirations. Seeking input and counsel from your circle of advisors (your attorney or accountant, for example) is a good first step to help identify your objectives and options. After a careful assessment of your goals, reaching out to banks or equity investors for feedback can also provide helpful insights and begin the process of identifying the right financial partner. Will Lucas is a senior associate at Azalea Capital. His responsibilities include identifying and evaluating investment opportunities, supporting transaction due diligence, and working with management teams to implement growth strategies. 8.3.2018 | upstatebusinessjournal.com

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C L E M S O N

M B A

P R O G R A M

THE FINANCE ISSUE

5 questions to ask your financial adviser By JEFF HERMAN partner, Wagner Wealth Management

COME TO AN INFO SESSION TO LEARN ABOUT CLEMSON’S FULL-TIME AND PART-TIME PROGRAM OPTIONS! DATE:

TUES. SEPT. 4 TIME:

5:30 - 7:00 PM

PM

Financial news and advice are everywhere: CNBC, The Wall Street Journal, Barron’s magazine, your brother-in-law, this column. There is no end to the places we can go to find opinions on what to do with our money. What recommendations should you trust? Unfortunately, I can’t offer a perfect solution, but I can offer advice on how to talk with your financial adviser. Or more succinctly, what to ask so you can better understand the help being provided. Below are five questions everyone should ask their adviser.

How are you compensated? This question should be highest on your list, as it relates to any conflict of interest this adviser may have. Is he earning a fee on your account or a commission by providing advice on your money? It is your hard-earned money that will need to grow and last a lifetime. You deserve to understand how your adviser is getting paid. This is not a rude or challenging question. In fact, your adviser should bring it up during the initial meeting.

What is your money-management process? Does this adviser create custom portfolios, as opposed to having one model upon which all client assets are placed? There really is no right or wrong answer, but asking the question will reveal a lot about how the firm builds your portfolio.

What services are included when working with you? Some advisers specialize in investment management. Others are full-service planners, meaning they will develop a financial plan that includes tax, college, and 20

UBJ | 8.3.2018

estate planning, as well as investment management. Your age and stage of life will help determine which type of adviser is more appropriate for you.

What is your experience and/or succession plan? In our business, we are fairly heavily regulated by either the Financial Industry Regulatory Authority or the Securities and Exchange Commission. There are two areas where you can look up an adviser’s history: brokercheck.finra. org or adviserinfo.sec.gov. Either of these sites will give you a chance to see if there are any customer disputes with the broker. Additionally, what happens if sometime later the adviser you are working with leaves the business due to retirement or health issues? Is there a succession or contingency plan in place for clients? It might be good to know who would step in to help you achieve your goals.

What kind of interaction will we have going forward? After you develop an action plan, how will it be monitored? Do you want the adviser to contact you with every modification to your investments? Do you want him to just take care of it? Again, there is no right or wrong answer, but it’s important to find a good fit for your personality. A good financial adviser is a problem-solver. Whether you are just starting your first job, saving for retirement, or planning your estate, find someone you feel comfortable talking with and with whom you can build a trusting relationship. Jeff Herman, a 30-year veteran of the financial services industry, is a partner with Wagner Wealth Management. He can be reached at Jeff@wwmadvisors.com.


PLAY-BY-PLAY OF UPSTATE CAREERS

PROMOTED

HIRED

HIRED

GRADUATED

| ON THE MOVE

PROMOTED

ANNA NEWELL

KAREN BUSHA

ANNA FRANKLIN

DUSTIN GREEN

CAMERON MCDOWELL

Has been promoted to accounting administrative assistant at Immedion LLC, a provider of cloud, data center, and IT management. Newell joined Immedion in 2016 as a human resources administrative assistant. Newell graduated from the University of South Carolina.

Has been hired as the vice president of children’s ministries at Miracle Hill Ministries. Busha comes to Miracle Hill with more than 30 years of experience in state government with a focus in helping women, children, and families with substance abuse. She is an international behavioral health accreditation surveyor for the Commission on Accreditation of Rehabilitation Facilities, a licensed professional counselor, licensed professional counselor supervisor, and master addiction counselor.

Has joined Bunnell Lammons Engineering as senior environmental engineer. Franklin has more than 16 years of regulatory and environmental consulting experience. She specializes in air-quality permitting and compliance for industrial and municipal clients. Franklin received her Bachelor of Science in atmospheric sciences from the University of North Carolina at Asheville and Master of Science in environmental engineering and science from Clemson University.

Has graduated from the South Carolina Bankers School. Green is the senior vice president/commercial market leader of Carolina Alliance Bank. Green has more than 15 years of experience in banking in the Upstate. He holds a business marketing degree from Clemson University and volunteers with the YMCA, United Way, Meals on Wheels, and Homes of Hope.

Has been chosen as executive director of the Eastside Family YMCA. McDowell was formerly the operations director for GHS Family YMCA and the YMCA Program Center. He has been working with the YMCA since 2007. McDowell graduated from Western Carolina University with a Bachelor of Science in sociology.

FINANCE Bank of Travelers Rest has been ranked first on Forbes’ 2018 list of Best Banks in South Carolina. The study engaged 25,000 financial institution customers from around the country and reported findings by state. Bank of Travelers Rest was also named Best in the Upstate – Best Bank by The Greenville News’ readers shortly after, marking the fourth consecutive year that Bank of Travelers Rest has received this honor.

MARKETING BRIGHT+CO Marketing was awarded three Business Marketing Association Carolina ProAds Awards. The agency was recognized for its B2B marketing, winning a silver award for BRIGHT+CO New Business Mailing, a bronze award for The Avant Media Kit, and a bronze award for its Milliken Breathe video. The ProAds Awards banquet brings together agencies from North and South Carolina to recognize excellence in marketing and advertising work, specifically in creativity and strategy.

CHAMBER OF COMMERCE GOS recently received the Small Business Success award presented by Spartanburg Area Chamber of Commerce’s Executive Vice President John Kimbrell and SunTrust Bank’s Kim A. Jolley. GOS is a local, family-owned office-supply company. The award is presented to one company each month that has met the following criteria: established a history of business in the Spartanburg area; demonstrated positive growth in revenue and in workforce; has shown innovation and creativity; is involved in the community; and has overcome adversity. GOS has been a partner of the Spartanburg Area Chamber of Commerce for more than a decade and celebrated the company’s 50th anniversary this year. Contribute: New hires, promotions, and award winners may be featured in On the Move. Send information and photos to onthemove@upstatebusinessjournal.com. 8.3.2018 | upstatebusinessjournal.com

21


#TRENDING |

INFORMATION YOU WANT TO KNOW / NEW FACES OF BUSINESS

THE WATERCOOLER 1. B  ank of America announces plan to move to Camperdown development in 2020

2. A historic cotton mill in Greer could be the first development in South Carolina that benefits from the new Opportunity Zones program

GET THE INBOX • NEW BIT TRAIL S ISSUE INSIDE THI ON GHS SWAMP RAB Y EL THRIFT

JULY 27,

3. Poe West revealed as new identity for former DSI Industrial property in Village of West Greenville

4. Two new projects — one residential, one office-retail — slated for Verdae

5. Designed to generate economic growth in lowincome communities, the newly created opportunity zone program also provides robust tax benefits *The Top 5 stories from last week ranked by Facebook reach

2018 | VOL.

7 ISSUE

26

MILLS DRAYTON OJECTS • VERDAE PR HE

Follow up on the Upstate’s workweek. The Inbox – our weekly rundown of the top 10 local biz stories you need to know. upstatebusinessjournal.com/email

RS NEWCOME

CIAL COMMERTATE REAL ESRLY ISSUE QUARTE T

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WITH

ITY OPPORST?UN ZONE THE NEW VISION IN IC NOWN PRO NOM A LITTLE-K LD LEAD TO ECO COU S TAX BILL NT, TAX BENEFIT DEVELOPME RS STO FOR INVE

ORDER A PRINT SUBSCRIPTION Style & substance are not mutually exclusive. Order a year of UBJ in no time, and we’ll deliver every week. upstatebusinessjournal.com/subscribe

Greer ntown result 8 in dow is a t in 190 n effort that mill buil atio er cotton first revitaliz ess Journal oric form Busin be the -foot histmillion could ks/Upstate Will Croo 4 0-square A 286,00ntly sold for $1.zone legislation. that rece opportunity of the new

CONNECT We’re great at networking.

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

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

One of the area’s most desirable retirement communities, The Springs made its campus even more inviting with a recent expansion.

We’re golden. Meet the bank behind The Springs at Simpsonville.

T HE BA NK BEHIND YOUR BUSINESS Member FDIC

22

FCB Greenville_Springs_UBJ.indd 1

UBJ | 8.3.2018

7/26/18 12:51 PM


EVENTS YOU SHOULD HAVE ON YOUR CALENDAR

UBJ PUBLISHER

Mark B. Johnston mjohnston@communityjournals.com

EXECUTIVE VICE PRESIDENT Susan Schwartzkopf susans@communityjournals.com

DATE

EVENT INFO

WHERE DO I GO?

HOW DO I GO?

Tuesday

Ten at the Top’s Connecting Our Future

TD Convention Center 1 Exposition Drive 11:30 a.m.–1:30 p.m.

Cost: $25 For more info: www.conta.cc/2kPv2LX; anottingham@tenatthetop.org

Ten at the Top’s A Cleaner Future: A Look at Air Quality, Sustainability & Energy Innovation in the Upstate

TD Convention Center 1 Exposition Drive 10 a.m.–2 p.m.

Cost: $20 For more info: https://conta.cc/2KJ8sjv

Greenville Chamber of Commerce’s Business Growth Expo

TD Convention Center 1 Exposition Drive 11:30 a.m.–7 p.m.

Cost: See registration for details. For more info: www.bit.ly/2H4jHQS; eaustin@greenvillechamber.org

The Greenville Chapter of the Society for Human Resource Management’s REthinkHR

Ogletree Building (Aug. 28), 300 N. Main St., 500; TD Convention Center (Aug. 29), 1 Exposition Drive 7:30 a.m.–4:45 p.m.

Cost: Regular rate to Aug. 15: $175 members/ $200 nonmembers For more info: www.greenvillehr.org/meetinginfo.php

Greenville Chamber of Commerce’s 26th Annual Greenville Chamber Golf Tournament

Greenville Country Club Chanticleer and Riverside Courses 10 a.m.

Cost: $50 (19th Holy Party); $375 (single), $1,500 (team of four) For more info: https://bit.ly/2LUTiIt; mcampbell@greenvillechamber.org

Tuesday

Ten at the Top’s Winning the Future – Regional Summit

TD Convention Center 1 Exposition Drive 8:30 a.m.–1:30 p.m.

Cost: $60 For more info: https://tenatthetop.org/2018-upstate-regional-summit/

Tuesday

Greenville Chamber of Commerce’s Diversity & Inclusion Summit

TD Convention Center 1 Exposition Drive 9 a.m.–7 p.m.

Cost: $150 for members, $225 general For more info: https://bit.ly/2zKXdG3; nikawhiteconsulting@greenvillechamber.org

8/7 Friday

MANAGING EDITOR

8/17

COPY EDITOR

Tuesday

Emily Pietras epietras@communityjournals.com Rebecca Strelow

STAFF WRITERS

Ariel Gilreath, Cindy Landrum, Andrew Moore, Sara Pearce, Ariel Turner

MARKETING & ADVERTISING DIRECTOR OF SALES Emily Yepes

8/23 Tuesday- Wednesday

8/28-8/29

MANAGER OF BUSINESS DEVELOPMENT Donna Johnston

MARKETING REPRESENTATIVES

Ed Ibarra, Heather Propp, Meredith Rice, Caroline Spivey, Liz Tew

Monday

9/17

CLIENT SERVICES

Anita Harley | Rosie Peck

ART & PRODUCTION VISUAL DIRECTOR

| PLANNER

9/25

Will Crooks

LAYOUT

Bo Leslie | Tammy Smith

GRAPHIC DESIGNER Amanda Walker

10/16

ADVERTISING DESIGN Michael Allen

VICE PRESIDENT OF OPERATIONS Holly Hardin

EXECUTIVE ASSISTANT Kristi Fortner

UP NEXT

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

AUGUST 17 WORKFORCE ISSUE

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

UBJ milestone

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

HOW TO CONTRIBUTE STORY IDEAS:

upstatebusinessjournal.com/submit

EVENTS:

events@upstatebusinessjournal.com

NEW HIRES, PROMOTIONS, AND AWARDS:

onthemove@upstatebusinessjournal.com UBJ welcomes expert commentary from business leaders on timely news topics related to their specialties. Guest columns run 700-800 words. Contact managing editor Emily Pietras at epietras@communityjournals.com to submit an article for consideration. Circulation Audit by

SEPTEMBER 14 LEADERSHIP ISSUE

1988

>>

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

Jackson Marketing Group celebrates 25 years

SEPTEMBER 28 MANUFACTURING ISSUE Got any thoughts? Care to contribute? Let us know at upstatebusinessjournal.com/submit.

1997 Jackson Dawson launches motorsports Division 1993

1990 Jackson Dawson acquires therapon marketing Group and moves to Piedmont office Center on Villa.

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

>>

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

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

1998

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

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

2009-2012 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-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 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 inVolVeMent & 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 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

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EVENTS: Submit event information for consideration to events@upstatebusinessjournal.com

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8.3.2018 | upstatebusinessjournal.com

23


Expanding our horizon

Expanding our horizon

Corporate office now open in Downtown Greenville! 110 E. Court Street, Suite 101 / 864-448-1020 Bound only by our commitment to stellar customer service and backed by over 130 years of solid financial performance, we are pleased to announce the opening of our new corporate office in Downtown Greenville.

Come visit us today!

G R E E N V I L L E www.iberiabank.com

Corporate office now open in Downtown Greenville! *All products and services are subject to approval, including credit approval.

August 3, 2018 UBJ  

Upstate Business Journal published for the Upstate of South Carolina. Designed and created by Community Journals. www.communityjournals.com...

August 3, 2018 UBJ  

Upstate Business Journal published for the Upstate of South Carolina. Designed and created by Community Journals. www.communityjournals.com...