PEOPLE IN THE NEWS Jenny Dennis, Trio Solutions president
PAGE 19 VOLUME 28 NUMBER 4 ■ CHARLESTONBUSINESS.COM
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MARCH 7-20, 2022 ■ $2.25
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Pandemic moves keep sports business on defense By Teri Errico Griffis
Built in 1794
Father-son duo open business in historic family building. Page 15
A
tgriffis@scbiznews.com
year ago, Todd Halloran faced a heavy decision. Shut down operations for a year, maybe longer, or work through a pandemic that would inevitably force a financial loss. Halloran loves small businesses. He thrives on their challenges, the way they can unite communities, and how they move economies. As partner at a Los Angeles- and New York-
based private equity firm, Halloran spends his days providing capital and counsel to consumer-focused businesses. But the pandemic produced a challenge that he didn’t anticipate when he became minority owner of the South Carolina Stingrays hockey team in 2018. Ticket sales are the No. 1 source of revenue for the Stingrays, which have a home at the North Charleston Coliseum, with sponsorships a close second. Both are driven by attendance, and last year the pandemic gutted the team’s fan base, with ticket sales restricted to
R&D growth drives state’s robust sector
Supporting talent Adult-focused University expands to make room for future workforce. Page 8
Traffic tension
Plan would expand West Ashley roadway to six lanes and add pedestrian path. Page 6
By Molly Hulsey
S
Buying stateside
Foreign investor purchases Goose Creek apartments for $52.7 million. Page 7
INSIDE
Upfront................................. 2 SC Biz News Briefs................. 3 Small Business Spotlight........ 4 In Focus: Real Estate and Construction................ 13 List: Heating & Air Companies.......................... 17 Bonus List: Solar Companies................. 18 At Work............................... 19 Viewpoint............................23
25% of capacity at the arena. Fans were hesitant to visit public places, and companies on lockdown weren’t purchasing big bundles for group nights. The impact that has carried over into the 2021-22 season. Halloran said ownership has been financially very challenging. The business has a large following and a large profile, but in terms of profits and losses, the Stingrays franchise works as small business. See STINGRAYS, Page 8
CULINARY ARTS Two restaurants open in former train depot on Ann Street using colorful motif and New York-style food. Page 11
Historic value
Historic districts serve as critical community assets for business, livability, says consultant. Page 13
mhulsey@scbiznews.com
outh Carolina continues to foster the fast-growing life science industry in the Southeast, according to economist Joey Von Nessen, and the number of affiliated companies have almost doubled since 2017. Neighbors Georgia and North Carolina compete at a respective 2.8% and 4.6% growth rate. South Carolina comes in swinging with 8.1% gains in employment. Life sciences also continues to be the fastest-growing sector within the state. In his presentation of the latest industry economic impact report at SCBio 2022 — the Life Sciences Conference of S.C. in Charleston on Feb. 23, Von Nessen attributed the success of the sector to demand from the state’s aging population, a strong business climate, and fewer workforce challenges faced by R&D firms See GROWTH, Page 6