KEISHA SMITH Owner, The Business Office
PAGE 4 VOLUME 28 NUMBER 3 ■ CHARLESTONBUSINESS.COM
Part of the
FEBRUARY 21-MARCH 6, 2022 ■ $2.25
network
Tourism gains ground from 2020 losses
Economic target
College professor traces local bank’s roots to the civil rights movement. Page 15
By Teri Errico Griffis & Molly Hulsey
S
outh Carolina visitors haven’t changed, but what they’re searching for in a vacation has changed since the pandemic started. Outdoor recreation is essential for the leisure traveler, and they’re looking to the South with year-round activities, said Duane Parrish, director of S.C. Parks, Recreation and Tourism. Since state parks were reopened in May 2020, travelers have visited in record numbers. State park revenue for 2021 increased 47% from last year and 73.7% over 2019. Campground occupancy increased 17.1% year-over-year while cabin occupancy was up 17.5% from 2020, according to the PRT. “When people come and travel to state parks … they’re not just going to state parks, they’re going out into the local communities. They’re buying gas at the See TOURISM, Page 6
Say cheese
Google names the best pizzerias in South Carolina with maps, reviews. Page 9
$29.7B in exports Overall exports are down 2%, but South Carolina leads in two sectors. Page 5
HGTV heads to SC
A popular home renovation show spends six weeks in Berkeley County. Page 12
Spinx Co.’s high octane model By adjusting, adapting and knowing what consumers want, Stewart Spinks became one of the state’s largest private employers with an ever-evolving product built, reimagined and refined over the last 50 years. Page 10
Developers, property owners oppose infrastructure fees
INSIDE
Upfront................................. 2 SC Biz News Briefs................. 3 Small Business Spotlight........ 4 In Focus: Banking and Finance.......... 13 List: Banks.......................... 17 At Work............................... 19 Viewpoint............................23
tgriffis@scbiznews.com mhulsey@scbiznews.com
By Jenny Peterson
A
Contributing Writer
t a special meeting Feb. 8, Charleston City council members heard from Johns Island property owners and developers opposed a newly-passed plan that put Johns Island into a special district that imposes fees on new large-scale residential and commercial construction to fund road and drainage improvements. The meeting took place at the Berkeley Electric Cooperative on Main Road.
Under the Municipal Improvement District, new development on two acres or more within city-owned property on Johns Island will be assessed a fee of $480 per apartment or single-family home every year for 30 years. Commercial space will be assessed a fee of $480 per 1,800 square feet every year for 30 years. The fee increases by 2% each year, resulting in approximately $19,000 per unit over the 30-year lifespan, according to city staff. The city expects to generate around $60 million to pay for infrastructure improve-
Access to capital
ments like roads and drainage along with parks and recreational facilities. The fee will be assessed on any new development or existing development that has not yet received a certificate of construction completion. There are approximately 3,500 new residential units already approved to be constructed and 500 more units are proposed on Johns Island, according to the city. Affordable housing projects, owner-occupied projects and projects by nonprofits or churches will not be assessed the fee. See JOHNS ISLAND, Page 8
JP Morgan Chase & Co. partners with South Carolina’s only minority-owned bank to expand the branch’s reach and access to capital. Page 13