Charleston Regional Business Journal - March 21, 2022 by SC Biz News

KATIE GEER Owner, Meyer Vogl Gallery

PAGE 4 VOLUME 28 NUMBER 5 ■ CHARLESTONBUSINESS.COM

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Rooftops and retail reshape West Ashley

Rawle’s new name Legacy Charleston marketing firm moving headquarters down South. Page 9

By Jenny Peterson

Engineering future BMW’s former CEO joins College of Charleston to build next gen workforce. Page 15

Marketing R&D

CofC students gain access to NASA technical patents to help with tech transfers. Page 17

Gas pains

Everyone is paying more at the pump. Here’s how area and state compare. Page 2

INSIDE

Upfront................................. 2 SC Biz News Briefs................. 3 Small Business Spotlight........ 4 In Focus: Education and Workforce.................... 13 List: Colleges & Universities....... 18 At Work............................... 19 Viewpoint............................ 21

WINGMAN David Neeleman understands how to start an airline. The founder of Breeze Airways talks about the promise of air travel and why adding more direct flights to Charleston makes sense for his latest venture. Page 6

Building a workforce

Welding, manufacturing and trucking are just a few in-demand skills across South Carolina. Page 13

Contributing Writer

evelopment in West Ashley around Bees Ferry Road has been dominated by multifamily growth — a trend the city of Charleston planning director said the city wasn’t expecting when development of annexed areas began in the late 1990s. “Years ago, the assumption was that there was going to be a huge amount of retail demand,” said Christopher Morgan, planning director for Charleston. “There are a couple of new multifamily developments right near West Ashley High School on the Glen McConnell Parkway that are on properties that are zoned general business.” Morgan said that general business in the city allows for 26 units per acre for residential, and the market has responded. Developers who might have invested time and money into office buildings 20 years ago are often choosing multifamily construction. Early major multifamily developments included Grand Oaks Plantation, built in the late 1990s that added more than 1,400 homes with an entrance from Bees Ferry Road; Hunt Club, built in the early 2000s with approximately 500 homes also off Bees Ferry Road and Carolina Bay, an 1,800-home multifamily development five minutes from Bees Ferry Road. Smaller multifamily developments currently in the works, according to Morgan, include 38 single-family lots at Verbena Lane and Apiary Lane at the end of U.S. Highway 17 and Bees Ferry Road. Developers recently announced See WEST ASHLEY, Page 10

Upfront

BRIEFS | FACTS | STATEWIDE NEWS | BEST ADVICE

If $4 a gallon has you feeling down, you’re not alone

f you wondered what the tipping point was for gas prices to impact how Americans do business, then you should know that we’re already there. South Carolina’s average gas price topped $4.08 a gallon for regular gas in early March, right after President Joe Biden said he was banning imports of Russian oil and related products after the country invaded Ukraine. America doesn’t get a lot of oil from Russia, relatively speaking. Before the ban, we imported about 670,000 barrels of oil a day from Russia or about 8% of our daily total, data from the U.S. Energy Information Administration in 2021 show. However, the price per barrel quickly spiked in light of the military action beyond the Black Sea because price isn’t about how much we import. It’s about the cost of replacing that oil on the open market, which just got more expensive. In the Palmetto State, Bamberg County has the highest price per gallon at $4.31 for regular gasoline. That’s more than every other county in the state, including the larger metro areas. AAA said that when gas prices hit $4 a gallon, Americans start making changes to driving habits. If averages rise above $5 a gallon, AAA said then Americans will start making lifestyle changes that can have a ripple effect across business and industry.

Gas prices in SC metros Area

Current avg.*

Year ago

% change

Hilton Head-Bluffton

$4.13

$2.63

+57%

Aiken-Edgefield

$4.12

$2.56

+60.9%

Florence

$4.11

$2.60

+58.1%

Columbia

$4.11

$2.57

+59.9%

$4.06

$2.58

+57.4%

$4.04

$2.54

+59.1%

Myrtle Beach

$4.04

$2.57

+57.2%

Sumter

$4.03

$2.57

+56.8%

Rock Hill

$4.02

$2.51

+60.2%

Charleston-North Charleston GreenvilleSpartanburg

Comparing gas prices across Southeast State

Current avg.*

Year ago

% change

Florida

$4.35

$2.84

+53.2%

Across U.S

$4.32

$2.81

+53.7%

Georgia

$4.27

$2.64

+61.7%

North Carolina

$4.18

$2.61

+60.2%

Louisiana

$4.13

$2.53

+63.2%

Alabama

$4.13

$2.57

+60.7%

Tennessee

$4.11

$2.60

+58.1%

South Carolina

$4.08

$2.57

+58.8%

Kentucky

$4.04

$2.70

+49.6%

Mississippi

$2.48

+61.3%

Arkansas

$3.90

$2.60

+50%

Source: AAA, formerly American Automobile Association *As of March 10, 2022, for regular gasoline. If you buy premium, you’re on your own.

ON THE

RECORD

“We have money. We have technology. We have investment in the issue. Our biggest issue is people.” — Knudt Flor, College of Charleston senior vice president for innovation and industry engagement

WEBSITE: www.CharlestonBusiness.com

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www.charlestonbusiness.com 3

SC Biz News Briefs

The global technology and supply chain company expects the Upstate expansion to grow shipping capacity to 2 million packages each year. (Photo/Provided)

UPSTATE

Columbia Regional Business Report

Ingram Micro builds $37M fulfillment facility

global technology and supply chain service provider expects a $37 million expansion to create a capacity to ship approximately 2 million packages each year. “Ingram Micro is pleased to continue to invest in the state of South Carolina with a new advanced fulfillment center to further serve our customers in the region and play an important role in helping keep the global supply chain moving,” Marianne Zeller, Ingram Micro executive director of global real estate, said in a news release. “South Carolina is known for providing access to a dedicated workforce, and we are excited to grow our presence here in the state. We are thrilled to partner with VanTrust Real Estate in this latest development in Spartanburg County.” The company’s incoming regional fulfillment facility, located at 6670 Highway 221 in Roebuck, is expected to create 203 new jobs for Spartanburg County. “Ingram Micro’s decision to grow in Spartanburg strengthens our county’s already-robust logistics sector and brings another global brand with global connections to our county,” Spartanburg County Councilman David Britt said in the release. Operations at the location are expected to be online in early 2023. Headquartered in Irvine, Calif., the company currently operates out of a 130,000-square-foot warehouse at 8 Shelter Drive, Greer, that it moved into in 2019 after acquiring tech distributors NetXUSA and the Pheonix Group. The property is one of five in the Upstate developed by Missouri-based VanTrust, three in Anderson County and two in Spartanburg County, after the company’s foray into the region in 2019. “We chose the Spartanburg and Anderson locations for these developments as they are both located in close proximity to Greenville, a major metropolitan area and one of the fastest growing economic regions in the state,” Andy Weeks, executive vice president of VanTrust, said in the release. “Strategically located between Charlotte and Atlanta, this area has experienced tremendous growth in recent years. We expect that it will continue to enjoy economic progress moving forward and are delighted that VanTrust can play a part in that growth.” The Coordinating Council for Economic Development has approved job development credits related to this project. The council also awarded a $300,000 Set-Aside grant to Spartanburg County to assist with the cost of building improvements. “Ingram Micro’s expanded Spartanburg County operation is not only a win for the local community, it’s a win for all of our state,” Commerce Secretary Harry M. Lightsey said in the release. “This company is an integral part of South Carolina’s supply chain network, and we celebrate their success within our borders.” CRBJ

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State park operators add to destination inventory. Page 7

Rev. Wendell Jones

PASTOR, Changing Your Mind Ministries PRESIDENT, Wendell Jones Leadership Institute

CONFERENCE 2022 MUTUAL PROSPERITY: Creating a equitable community

presented by

APRIL 5, 2022

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Charleston Marriott Lockwood

Program helps SC companies meet DOD cyber requirements

New state park

Pull up a chair

Details set for Columbia Food and Wine festival. Page 4

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By Ross Norton

A Life on the river

Shipping success

Developers move on plans to bring housing to Saluda mill site. Page 11

New bank in town

Export leaders

First Reliance Bank leases space in downtown tower. Page 9

Industry leader

Spinks leads store chain through sector changes. Page 10

Big worries, small businesses Be Beep A Toy Shop sales associate Ally Sundius rings up a purchase for Drew Lewis and dad Andrew Lewis at the toy store in Forest Acres. (Photo/Christina Lee Knauss)

Inflation, supply chain woes contribute to owners’ ongoing concerns By Christina Lee Knauss

INSIDE

Upfront ................................ 2 SC Biz News Briefs ................ 3 In Focus: Banking and Finance ....................... 13 List: Banks ......................... 16 At Work .............................. 21 Viewpoint ...........................23

Contributing Writer

ith inflation rising faster than it has since Ronald Reagan was president, small businesses are among those being hit hardest by rising prices. Economists and business leaders from around the Carolinas say South Carolina’s small businesses so far seem to be weathering the storm, but many factors, including a possible rise in the cost of leasing commercial space, could make the coming months more difficult. The National Federation of Independent Businesses’ Small Business Optimism Index

decreased in January to 97.1, down 1.8 points from December, with 22% of business owners reporting inflation as their single most important problem. Supply-chain tie-ups and difficulty in hiring enough workers are two other concerns causing small business confidence to shrink. “Small business owners have been managing incredibly well, but over the last six months we have seen a sharp drop in the number of small business owners optimistic about the future,” said Mark Vitner, senior economist with Wells Fargo Economic in Charlotte. “It’s mostly concerns about inflation that are driving that. While many businesses have been

able to pass along higher costs to their customers, they realize they’re not going to be able to do that indefinitely.” Vitner said one shock that might hit small businesses hard over the next year is related to the Consumer Price Index. Some leases for retail, office or other commercial space are indexed for inflation, tied to the 12-month cyclical change in the CPI, which is surging at record levels not seen in 40 years. A Feb. 10 report from the U.S. Labor Department showed that the CPI rose 0.6% in January, driving the annual rise in inflation to See CONCERNS, Page 15

Building on history

Optus Bank has long legacy of community focus, outreach. Page 18

ColumbiaBusinessReport.com

Palmetto State leads the nation in two export categories. Page 5

Pizza champions Google identifies the top pizza joints in South Carolina. Page 10

INSIDE

Leading Off .......................... 2 SC Biz News Briefs ................ 3 C-Suite ................................ 4 In Focus: Banking and Finance ............................. 13 LIST: Banks ........................ 16 At Work ............................. 20 Viewpoint ...........................23

Abbeville Community Development Director Austin Walker (right) accepts the Charles A. Bundy Award for the Abbeville Opera House from Gov. Henry McMaster and Duane Parrish. See related story, Page 8. (Photo/Molly Hulsey)

Tourism gains ground from 2020 losses By Teri Errico Griffis & Molly Hulsey

tgriffis@scbiznews.com mhulsey@scbiznews.com

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 convenience stores. They’re going to the grocery store. They’re going to cultural events and seeking out

opportunities in the region that they’re in,” said Joy Raintree, regional chief of the S.C. State Park Service’s Sandhill Region. Raintree is heading up efforts with Open Space Institute and Nature Conservancy to design one of five new South Carolina parks: the Black River State Park, a 70-mile water trail across Williamsburg and Georgetown counties. S.C. Parks plans to open access points along the river later this year. Additional properties under development include tracts acquired by the state in a settlement with Dominion Energy. There are 27 acres at Pine Island on Lake Murray, 190 acres at North Augusta’s Misty Lake and 2,600 acres at the former Ramsey Grove Plantation along the Black River. “That’s where we’ve benefited as a state,” Parrish said. “You think about all the lakes and rivers we have, beaches, boating, fishing. State parks, Congaree National Park. Hiking is a big thing with Palmetto Trail running through the state, and camping and golf. … So we’re sitting well; we’re in a good position for 2022 as well.” See TOURISM, Page 6

See CYBER, Page 10

RIDING A WAVE OF HIGH DEMAND Surge in watercraft sales challenges S.C. boating industry

In Focus: PPP in the rearview mirror

Some borrowers at odds with lenders over loan forgiveness. Page 13

GSABusiness.com

S.C. leads nation in pair of exporting categories. Page 5

rnorton@scbiznews.com

dam Haldeman was getting frustrated. The vice president of research and development for Pendleton’s Tetramer Technologies felt mired in a web of expectations from the Department of Defense. A requirement to meet cyber security compliance has been part of DOD contracts since 2015, Haldeman said, but few in the department’s supply chain actually complied at first. In time, however, DOD pressure has increased, and those companies wanting to continue or become part of the Defense Department’s supply chain are expected to meet Level 2 compliance requirements when controlled unclassified information is part of the mix. For companies such as Tetramer, Level 2, or advanced level compliance, means meeting 110 practices to ensure that controlled unclassified information is safe. Haldeman said he understands the need for cyber security, but the process of reaching compliance was daunting for the businesses trying to get there. Besides, in a small business, people like him have other work to do. Tetramer is an advanced materials company with a lot of projects underway, including a special glue that could reduce the cost of certain fighter jet repairs from hundreds of thousands of dollars to hundreds of dollars by making field repairs possible. The customer for that one is the Defense Department. “Many of the (cyber security) requirements are interconnected,” Haldeman said. “It’s a whole web. It’s a mess. For any company that is not an IT company, it’s difficult and it’s expensive. … I was trying to do it, and the solutions

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With publications in Charleston, Columbia and the Upstate, as well as a statewide magazine, SC Biz News covers the pulse of business across South Carolina. Above are excerpts from our other publications.

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County Spotlight: Dorchester | Trending: Made in S.C. | S.C. Delivers

SCBIZmag.com

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LOWCOUNTRY NEWSROOM Executive Editor - Andy Owens aowens@scbiznews.com • 843.849.3142 Editor, Custom Publishing Division Steve McDaniel smcdaniel@scbiznews.com • 843.849.3123 Associate Editor - Teri Errico Griffis tgriffis@scbiznews.com • 843.849.3144 Research Specialist - Paige Wills pwills@scbiznews.com • 843.849.3125 News Editor - Alexandria Ng ang@scbiznews.com • 843.849.3124 Digital Editor - Robi Lyle rlyle@scbiznews.com • 843.849.3119 MIDLANDS NEWSROOM Editor - Melinda Waldrop mwaldrop@scbiznews.com • 803.726.7542 UPSTATE NEWSROOM Editor - Ross Norton rnorton@scbiznews.com • 864.720.1222 Associate Editor, Custom Publishing Division Jim Tatum jtatum@scbiznews.com • 864.720.2269 Staff Writer - Molly Hulsey mhulsey@scbiznews.com • 864.720.1223 LOWCOUNTRY ACCOUNT EXECUTIVES Multimedia Account Executive Amanda Alford aalford@bridgetowermedia.com • 843.849.3109

March 21-April 3, 2022

Small Business Spotlight KATIE GEER , MEYER VOGL GALLERY

ABOUT OUR COMPANY:

I co-own Meyer Vogl Gallery along with co-owners Laurie Meyer and Marissa Vogl. Meyer Vogl Gallery is a contemporary fine art gallery located in the heart of Charleston’s bustling gallery district and historic French Quarter, with a new second location on Daniel Island. We exhibit works by a number of local and internationally recognized artists. These artists are diverse and unique, ranging from emerging to established contemporary masters; the unifying element is that they excite us.

MY BUSINESS MODEL:

Developing meaningful relationships and engaging with our art-collecting clients is extremely important to us. We work with collectors to address their specific art needs or simply to help them find art that brings them great joy. Since we first opened nearly six years ago, we’ve substantially grown both our client list and artist roster. Many clients who purchase artwork by one gallery artist later go on to add work by another gallery artist to their collection. Our most important relationships, however, are with the artists we represent. We’ll always encourage them to create what they’re feeling inspired to create.

MY CUSTOMERS:

Our customer base is made up of all types of buyers: from clients who are purchasing their very first piece of original artwork to seasoned collectors. We have a lot of returning clients or clients who have been following us for a while, as well as people visiting Charleston who happen to stumble into the gallery and fall in love with a piece of art.

Multimedia Account Executive - Jim Wheeler jwheeler@scbiznews.com • 843.849.3104

South Carolina’s Media Engine for Economic Growth

Group Publisher - Rick Jenkins rjenkins@scbiznews.com • 864.720.1224

Locations:

Charleston & Daniel Island

Director of Advertising - Robert Reilly rreilly@scbiznews.com • 843.849.3107

Year established:

Number of employees:

2016

MISSION:

By exhibiting artwork we feel an emotional connection to, Meyer Vogl Gallery hopes to engage the senses of art lovers and introduce collectors to exhilarating new works.

Events Account Executive - Melissa Tomberg mtomberg@scbiznews.com • 864.720.1220 Events Manager - Kim McManus kmcmanus@scbiznews.com • 843.849.3116 Accounting ar@bridgetowermedia.com Subscription Services service@bridgetowermedia.com • 877.615.9536 CUSTOM MEDIA DIVISION Director of Business Development Mark Wright mwright@scbiznews.com • 843.849.3143 Director of Research Operations - Ryan Wilcox rwilcox@bridgetowermedia.com • 843.849.3117

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March 21-April 3, 2022

www.charlestonbusiness.com 5

Container crushes police cruiser with officer inside By Teri Errico Griffis

tgriffis@scbiznews.com

gust of wind blew a container off a chassis on the Wando Bridge March 12, hitting a police car with the officer in it. “Had it hit two to three feet further up the passenger compartment, we may not be having this same conversation,” said Lieutenant Matthew T. Wojslawowicz with the City of charleston City of Charleston Police Department. Around 7 a.m. that morning, the officer responded to a disabled vehicle on the Wando River Bridge. With the third lane blocked off, a truck coming from the Wando Welch Terminal drove down the middle lane as a strong wind knocked the container from the chassis, into the car where the police officer was waiting for the tow truck. The container then slid off the edge of the bridge into the water, 55 feet below. Wojslawowicz said the officer was shaken up and a little sore. He did not sustain any major injuries. At the same time of the first incident, Wojslawowicz said, another truck had its container blown off onto the roadway decking of the bridge. A third cargo-carrying truck had its container caught up in

a gust on the Don Holt Bridge. The back of the end was mangled as the truck spun. The bridges were immediately shut down five minutes later, and remained closed until 11 a.m. when winds died and the police department felt driving conditions were safe again. Shutting bridges cuts off main arteries for those traveling from Daniel Island and Mount Pleasant, but Wojslawowicz said the Ravenel Bridge remained open, and DI residents could still cut across Clements Ferry Rd. “You have to weigh the pros and cons. Yes, it’s going to be an inconvenience, but public safety trumps convenience any day of the week,” the lieutenant said. A day later, a diver was sent into the Wando River to locate the first container. Wojslawowicz said a dredging company will work out logistics for the best way to retrieve it out of the water. To clear out the second truck’s container, Wojslawowicz said two tow trucks had to strap the container and use a crane to lift it back onto the chassis. “I had never seen anything like that before,” Wojslawowicz said. “I’ve seen ice storms. I’ve seen hurricanes. I’ve never seen containers get blown off of truck chassis. That’s a first for me in my 20 years of law enforcement.” CRBJ

A Charleston Police Department cruiser was damaged on the Wando Bridge after wind blew a container off of the chassis, into the car and over the bridge into the water. (Photo/Charleston Police Department)

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March 21-April 3, 2022

Serial airline starter expands Charleston’s flight plans By Teri Errico Griffis

tgriffis@scbiznews.com

avid Neeleman is good at starting airlines. “That’s what I do,” he said. His track record isn’t as strong for seeing operations through, but he hopes the success of his newest venture, Breeze Airways, is a sign that the worst is behind him. Headquartered in Utah, the airline launched in May with two nonstop flights out of Charleston — the largest of its now five bases in the United States. The airport has regularly added routes throughout the year, expanding to its 28 cities as of March. “When I was in Charleston last May, I thought ‘There’s a heck of a lot of people who are going to be in Charleston this year and have no idea yet,’” Neeleman said. The airline kicked off with flights from Charleston International Airport to Tampa, Fla., and Hartford, Conn.— cities that never had direct connections before. By summer, five more routes were added. By December, another two. This month, four more, including the Holy City’s first nonstop flight to San Francisco. Today there are 17 routes that fly direct to and from CHS in markets previously

untapped by any other airline. “We look at the traffic and we see what the travel patterns are. A lot of people fly between two cities where there’s not nonstop service, and we know there’s a market there,” Neeleman said. Neeleman believes Charleston’s historic nature, food and people that have made the airline’s partnership with the city and its airport so successful. “When I was on the flight coming from Islip, a lot of people got off the airplane and said, ‘We don’t have to connect anymore in Baltimore.’ They were coming on Southwest and connecting through Baltimore,” he said. “There’s just a huge community of interest between New York and Charleston.” Neeleman was born in Brazil, when his father was stationed there temporarily for work, but was raised back in the U.S. Today, he lives in Utah, where he began his career as a commercial airline entrepreneur. At the age of 24, Neeleman chartered flights, eventually evolving his business into his first airline, Morris Air. He ran the company for 10 years before selling to Southwest Airlines for $130 million. Neeleman remained Morris Air’s president and also served on Southwest’s executive planning committee. Just a few months after the acquisition in 1994, Neeleman parted ways with Southwest,

accepting a five year non-compete clause. While he waited, he headed north to Canada where he helped start up another airline, WestJet. Simultaneously, he served as CEO of Open Skies, an airline reservation and check-in system company later acquired by Hewlett Packard. When the timer dinged in 1999, Neeleman incorporated JetBlue, which was officially founded in February of that year. The pattern repeated itself years later when Neeleman lost control of that company, too. A snowstorm in February 2007 exposed a breakdown in the airline’s operations, leading to nearly 1,000 canceled flights in five days, customers stranded on planes and company shares fell 25% after a 52-week high, according to CNBC. On May 10, Neeleman was replaced as CEO of JetBlue by David Barger. “It totally motivated me,” Neeleman said. “When I left JetBlue, I went down to the country of my birth and started an airline down there and it’s become the largest airline in Brazil.” In operation for 12 years, Azul Brazilian Airlines now flies over 100,000 people on 800 daily flights. Neeleman said the business was a tremendous opportunity that would have never happened if he had not parted ways with JetBlue. “You learn something every time you

start a new airline… I learned a lot from Brazil about flying exclusive markets,” he said. “Eighty percent of our 130 cities we serve down there have no nonstop competition. So that works a lot better than having to fight things out with people, especially when things get tough.” Neeleman said he avoids airports where major airliens fly, and instead picked up markets like San Bernadino, Calif., Huntsville, Ala., and Akron, Ohio. The airline entrepreneur’s past also taught him the importance of communicating better with the board and hiring the right operations team. “There are certain principles you have to live by and provisions you have to take and there’s always things that happen,” Neeleman said. “But great management teams can really get you through tough times.” He sees Breeze growing from here, adding more connections to Charleston, including this month’s Syracuse, N.Y., Fort Myers, Fla., and Las Vegas, Fla. There are also other cities out west Breeze can serve from Charleston, and Neeleman hopes to announce those soon. “We knew Charleston was going to be a great place to go to, but this is even surprising us,” he said. CRBJ

Reach Teri Errico Griffis at 843-849-3144.

March 21-April 3, 2022

www.charlestonbusiness.com 7

Millions still available in loan program targeting Southern states By Melinda Waldrop

mwaldrop@scbiznews.com

ess than $300,000 of $17 million in loans targeted to help small business across the South recover from the COVID-19 pandemic have gone to S.C. businesses, and organizers of the economic recovery fund want business owners to know that more money is available. The Southern Opportunity and Resilience Fund, designed to fill gaps left by government pandemic relief, had arranged 357 low-interest loans through community lenders as of January. Ten of those, totaling $291,000, have been deployed in South Carolina. “We’re excited to get the word out to more businesses, particularly in South Carolina, because we haven’t had as much demand there as we thought,” said Caroline Yarborough, officer of syndications and strategy at Calvert Impact Capital. “We know there are a lot of businesses across the state that would benefit from a program like this.” Working through local and national Community Development Financial Institutions, the SOAR Fund makes loans of up to $100,000 and free business support available to businesses or nonprofits with 50 or fewer full-time employees in Alabama, Arkansas, Delaware, Florida, Georgia, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia, West Virginia and the District of Columbia. Eligible applicants are matched with lenders to receive a share of a capital pool funded by philanthropic, private and corporate investors that has grown to $62.5 million with recent support from Visa Foundation, Compton Foundation and W.K. Kellogg Foundation. Nonprofit subsidiary Calvert Impact Capital helps disperse the fund, managed by LISC Fund Management. Thirteen CDFIs are originating loans by the fund, with Ascendus, NDC and Opportunity Fund in South Carolina. “At this critical moment, CDFIs have been a lifeline for small business owners, particularly women and people of color, in rural and urban communities where many are underbanked and left out of much-needed COVID-19 relief,” Cynthia Muller, director of mission investment at the W.K. Kellogg Foundation, said in a news release. “The SOAR Fund has coalesced a dynamic network of trusted lenders across the South and Southeast who are rapidly deploying flexible capital to reimagine a more equitable economy for all.” NDC worked with Overhead Station Gift Shop in Rock Hill to arrange a loan that the business used to refurbish its storefront, purchase new merchandise and buy more display fixtures.

“The reason I liked this loan is because of the interest-only payments for a year,” co-owner Tami Windell said in the release. “I worked with NDC to design a loan I could afford to pay back.” Windell represents one of the underrepresented groups of business owners the fund is designed to reach. Of $11 million in SOAR loans distributed to nearly 250 small businesses as of November 2021, 79% went to business owners who identified as a woman or a person of color, while 49% went to Black-owned businesses. Almost 90% went to businesses with 10

or fewer full-time employees, and 76% of recipients reported annual revenues of less than $500,000. The SOAR fund has distributed loans to restaurants, early childhood centers, health service providers, produce farms, contractors and retailers. Applications and more information are available online at www.TheSoarFund. org, and Yarborough anticipates a surge in interest as other relief programs, such as the Paycheck Protection Program and the U.S. Small Business Administration’s COVID Economic Injury Disaster Loan program, begin to exhaust their funds.

Free technical assistance to business is provided by organizations that help with outreach, education, and hands-on business advisory services. “That is definitely the silver lining, that programs like this now connect business owners directly with the resources they need,” Yarborough said. “Even though that connection evolved during crisis, it will hopefully be there in 10, 20 years, which could be really transformational in serving businesses.” CRBJ

Reach Melinda Waldrop at 803-726-7542.

www.charlestonbusiness.com

March 21-April 3, 2022

Historic home on market in downtown Charleston By Teri Errico Griffis

tgriffis@scbiznews.com

he Lowcountry market has had a wild few years. Agents have sold some of the most expensive homes in the region’s history, even an island. Now one agent is selling the home of a signer of the Declaration of Independence. The Governor’s House, built in 1760, was formerly home to founding father Edward Rutledge, the youngest signer of the declaration. Rutlege fought in the Revolutionary War, served two terms in the U.S. Senate and as governor of South Carolina in 1798. When he signed the Declaration of Independence, he was 26 years old. Rutledge lived in the house from 1763 until his death in 1800 at age 50. Located at 117 Broad and 17 Orange streets, the Georgian-style mansion was built as a residence but has been operating as an inn since 1998. The double house, built on two lots, is listed at just under $7.5 million. “This is an important house where people were basically forming and running the government and the new world. So it’s pretty important to Charleston that it is still intact,” said Deborah C. Fisher, broker-in-charge of Handsome Properties, which is listing the house. The house encompasses 9,887 square feet with 12 bedrooms, 12 full baths and one half-bath, as well as seven fireplaces and 14 off-street parking spots. Inside, original details remain, including heart of pine floors, detailed molding, triple hung 9-foot windows and 12-foot ceilings. Fisher said the home has undergone alterations and additions since its original construction, particularly in 1850. “Handsome Properties markets locally, regionally and nationally and large properties like 117 Broad St. attract buyers of all kind because of its use and size,” Fisher said. Handsome Properties represented the current owner when they originally bought the house in December 2015. The owner then called upon Handsome’s services to put the house back on the market in July 2020. With the pandemic, however, showings were hard at the time and the sale was paused. Marketing for the house recently was redirected to include residential buyers, and Fisher said that has worked to attract prospective owners. She has seen more interest in the property now than in 2020, and said she’s shown the property just as much to commercial clients looking for an inn as residential clients looking to convert the property back to a home. “From a residential standpoint, it’s very difficult to find a property of this size in Charleston. There aren’t any properties 10,000 square feet and higher, so there is

The Governor’s House was formerly home to Edward Rutledge, the youngest signer of the Declaration of Independence. The home is on the market for just under $7.5 million. (Photos/Provided)

A staircase winds to a second-floor landing on at The Governor’s House Inn, which is up for sale as a working bed and breakfast or as a property that could be converted back to a residential estate.

a market for someone who wants a large estate as well,” she said. Fisher said the property holds a lot of potential for buyers, especially investors, since the deed allows for small events on the property — a business model that has been untapped. The house could be a venue for corporate events or small weddings. The Governor’s House Inn was previously named as a must-visit bed and breakfast on Trip Advisor. In 2018, the inn was listed as one of the “Top 15 Places to Stay In Charleston” by Condé Nast Traveler.

Beyond business, a buyer could receive a tax break since there are neither conservation easements on the exterior nor interior of the property. Fisher said the Historic Charleston Foundation and the Preservation Society of Charleston both want to put in conservation protection on the property. “So for someone who’s interested in this property, they could take advantage of that from a tax benefit,” Fisher said. The home, built by James Laurens, brother to the president of the Second Continental Congress, Henry Laurens, was declared a National Historic Land-

mark by the United States Department of the Interior in 1971. The residence has played host to President Teddy Roosevelt in 1902 and President William Howard Taft in 1908. In 1972, President Gerald Ford stayed in what is now known as the “Rutledge Suite.” “Charleston is a city that has the largest concentration of 17th, 18th and 19th century buildings. So this house plays heavily into the Charleston fabric,” Fisher said. CRBJ

Reach Teri Errico Griffis at 843-849-3144.

March 21-April 3, 2022

www.charlestonbusiness.com 9

Rawle Murdy reimagined to expand services in ‘escape’ market By Teri Errico Griffis

tgriffis@scbiznews.com

fter 47 years, Rawle Murdy is going by a new name. The Charleston marketing company was acquired by Buffalo Groupe three years ago to drive growth for both companies. To merge ideas, and now headquarters, the companies are rebranding as BGRM. Buffalo Groupe CEO Kyle Ragsdale said this wasn’t the initial plan for his company headquartered in Washington, D.C. Rawle Murdy was always intended to operate separately. “What happened for us, as Buffalo Groupe started working with Rawle Murdy, and we kept acquiring more companies, and we were growing, Rawle Murdy became the de facto creative pillar for all of us,” Ragsdale said. At the time of the merger, Buffalo Groupe — a collection of integrated marketing agencies, events and media properties — owned only one other company, Buffalo Agency. BG also was a golf-only agency at the time. Acquiring Rawle Murdy and its services was of big interest for Ragsdale to strengthen his company’s position. “Rawle Murdy was the first acquisition of a much larger growth strategy for us that involved both acquisitions and investments in new service offerings throughout an array of the outdoor lifestyle segment,” Ragsdale said. “We do a lot of outdoor work, sports work, and then Rawle Murdy really represented a stronger move for us into travel, tourism, real estate.” The renaming brings Rawle Murdy in tighter with Buffalo Groupe and expands the agency’s services. Buffalo Groupe owns a research firm in Portland, Ore.,

and an events company that hosts events nationwide, and a digital presence that Rawle Murdy now has access to. “I think you’ll see more and more of all that Buffalo Groupe has as part of the combined service offerings for BGRM,” Ragsdale said. He said that he considered relocating Rawle Murdy to Washington, D.C., but the deal instead opened BG’s eyes to the opportunities in Charleston. Travelling to the Lowcountry for tourism, golf or a second home are all attractive marketing opportunities. “Clearly, we chose the winner here and to be associated with a firm that has been so instrumental for a long time is a wonderful, wonderful thing,” Ragsdale said. Ragsdale treated the merger like he would assess any client, bringing executives from each division as well as research firms into Charleston and working through the process. While BGRM was the clear winner of all the new names tossed out, Ragsdale said a close second was Five Second Stories since the companies tell clients’ stories in five seconds or less. The merger won’t change the companies’ business models, but Ragsdale said it will move them forward as a creative firm serving the outdoor recreation space. “That’s kind of how we’re building our firm, and I don’t think anything is more clearly aligned or any location is more aligned with that type of service, that escape, than Charleston, which has really been an escape community for a long time,” Ragsdale said. Buffalo Groupe’s full move to Charleston strengthens the company’s position in the market. Throughout the last five decades, Rawle Murdy has been part of

Bruce Murdy, alongside Buffalo Groupe CEO Kyle Ragsdale, is the managing director of their companies’ newly rebranded BGRM. The merged company is relocating its headquarters to Charleston. (Photo/Provided)

the region’s growth as a well-established Charleston marketing firm. Coming out of the pandemic, Buffalo Groupe employs 110 people, 35 of which are based in Charleston at Rawle Murdy’s current office space for the last seven years. The merger and relocation is expected to add 20 more people to the Lowcountry team. “It just made sense to hire those where our new hub is going to be. That was the real driver about now,” Ragsdale said. “We’re hiring people. We need them to come to the right identity, the right position. The timing was just right given how our businesses are converging.” Part of Rawle Murdy’s new role as BGRM managing director is to head up reconfiguring the Lowcountry office

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space. The challenge is determining what BGRM’s future office footprint looks like in a post-COVID world for a growing team. Within the next few years, Ragsdale’s vision is to see this year’s 50 or so employees double. A hiring increase of that size a decade or so ago would have been taxing for a city the size of Charleston, but Ragsdale said the company finds the digital and creative talent look to Charleston as the place to be. “As a top destination with world-class talent and a thriving creative community, there’s no place more fitting to now serve as the home for the ‘herd,’” Ragsdale said.

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WEST ASHLEY, from Page 1

55 single-family homes off of U.S. 17 on Hughes Lane near the 17 and Bees Ferry Road intersection. Multifamily development is occurring on both sides of U.S. Highway 17 in the area. Palisades of Charleston apartments, with several hundred units, is nearing completion near the intersection of Main Road and U.S. 17. Support retail has followed the rooftops and includes a number of grocery stores, including Publix, Harris Teeter and Lowe’s Food stores. With demand from multifamily developments comes with the need for improved road infrastructure. Major road widening projects are in the works to keep up with the number of cars on U.S.17, Main Road and Bees Ferry Road thoroughfares. In 2016, road improvement projects were identified by Charleston County to be paid for with the transportation halfcent sales tax. Considered “a project of regional significance,” per county documents, the $195 million road improvements could include a flyover at U.S. Highway 17 at Main Road and widening Main Road from Bees Ferry Road to Betsy Kerrison Parkway. The first improvement will be for U.S. 17 and Main Road intersection improvements and Main Road improvements from Bees Ferry Road to River Road.

March 21-April 3, 2022

Right of way plans for the first segment were expected to be complete at the end of 2020. Bob Nuttall, managing principal and founder of Lee & Associates Charleston, said road improvement projects move at a considerably slower pace than private development. Nuttall, who specializes in office, retail, industrial, land and investment products, said a better solution to keep road congestion down would be to build denser multifamily developments with neighborhood retail. “Any private development could go from zero to done in under 24 months, but any government project is going to be three times that long, if not longer,” Nuttall said. “The office, the retail, the warehouse, the multifamily — all that’s being built faster than any roads can ever keep up with, but I think that higher density is one way to help solve that problem.” Nuttall said there’s no stopping the influx of people moving to the Lowcountry, but higher-density multifamily development, where units are built taller above a ground-floor level of retail and commercial spaces or neighborhood commercial spaces where residents can walk to without getting in their cars is a way to curb road congestion. “There’s only two directions that you can grow in an area like Charleston — up or out. So, you either have to do the higher density stuff, like what’s happen-

Construction is ongoing at Lennar’s new Grand Bees phase in West Ashley. (Photo/Teri Errico Griffis)

ing on Morrison Drive, which I think is the right move, or build out wider,” Nuttall said. “The Glen McConnell Parkway expansion opened the opportunity for easy ingress and egress. And now it’s this kind of gangbusters. People are talking about how Bees Ferry Road already has so much traffic on it at peak times.” Nuttall said is encouraged by the Medical University of South Carolina moving a clinic into the Citadel Mall in West Ashley and Roper St. Francis opening an Express Care in the area. He said

South Carolinas Media Engineer for Economic Growth

that keeps needed services nearby, which reduces commute times. He said West Ashley could benefit from beautifying its roads, similar to road beautification surrounding Park Circle in North Charleston. “There really doesn’t seem to be a comprehensive plan (for West Ashley),” Nuttall said. “If there was more density, people wouldn’t have to drive so far to get places and do things. The city of Charleston really wants to grow, and I think it’s a great spot for them to embrace it.”

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March 21-April 3, 2022

www.charlestonbusiness.com 11

SC Biz news team wins journalism excellence awards By Melinda Waldrop

mwaldrop@scbiznews.com

C Biz News publications took home eight awards, including three firstplace honors, in the South Carolina Press Association’s 2021 News Contest. The annual contest recognizes excellence in journalism throughout the state with more than 3,000 entries submitted by 81 organizations. A statewide awards presentation ceremony was held this month in Columbia. The Columbia Regional Business Report won first place in the associate and individual division newspaper publication category. Judges not only commended the design and photography of the CRBR nominated issue, but also said it had, “Strong reporting full of business, growth/development and industry leader news and features.” SC Biz News’ Lake Wylie Today also topped entries for magazine or specialty publication. Judges said: “Wow. Strong class of entries, with all being enjoyable reads. This one stands out for the quality of writing and photography. Loved the local business features on the chocolatiers and ‘Queenie Bee.’ Also great spotlights on groups giving back to your community.” Columbia Regional Business Report

GSA Business Report staff writer Molly Hulsey (from left), Columbia Regional Business Report editor Melinda Waldrop, Charleston Regional Business Journal associate editor Teri Errico Griffis (with daughter Alice) and SC Biz news editor Alexandria Ng received awards at the SCPA banquet. (Photo/Staff)

editor Melinda Waldrop, SC Biz news editor Alexandria Ng and GSA Business Report staff writer Molly Hulsey won

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first place in business reporting for their statewide report, “A Shifting Landscape,” which examined how S.C. businesses

used Paycheck Protection Program funds to mitigate issues challenging businesses trying navigate the coronavirus pandemic. Judges called the piece a “good article that explains COVID relief funding and highlights the struggles small businesses have faced. Profiling the three organizations across the state was a good way to show impact and go beyond reporting data.” Waldrop also took second place in the business reporting category for “From the Ground Up,” a profile of Columbia commercial real estate titans Tom and Tombo Milliken. Charleston Regional Business Journal associate editor Teri Errico Griffis received honorable mention for her article, “Soft skills a key indicator for employee retention,” which takes a look at how soft skills increase employees’ value. Waldrop received another second-place recognition in the column or editorial writing category, while Ng took second-place honors in the news photo category. SCPA award winners were honored March 11 at a banquet at the Cooperative Conference Center in Columbia. CRBJ

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March 21-April 3, 2022

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In Focus

EDUCATION AND WORKFORCE DEVELOPMENT LIST: COLLEGES & UNIVERSITIES, PAGE 18

Construction fuel Building commercial and residential property takes access to capital, a supply of materials, a workforce and skill. The construction industry continues to thrive across the region and state.

Building spending in SC Spending on construction in South Carolina has fluctuated over the past five years. Year Dollars 2020 $4.6 billion 2019 $4.8 billion 2018 $5.2 billion 2017 $5 billion 2016 $4.6 billion Source: U.S. Census Bureau

Pricing residential

The following areas have the highest median home prices in S.C. for 2022. Across the Palmetto State, only the Central Carolina region reported a year-over-year price decline at -2.3%.

Broderick Smith (left), a student in the plumbing certificate program at Midlands Technical College’s Airport Campus, works on a project with instructor Devan Jordan. The program is part of the college’s continuing education program for workforce development. (Photo/Christina Lee Knauss)

Programs, apprenticeship target skilled workers By Christina Lee Knauss

Contributing Writer

idland Technical College’s inaugural South Carolina Welding Skills Competition did more than give more than 40 students from across the state the chance to show off their skills and win valuable gear. The competition, held Feb. 25, also aimed to get students excited about careers in the fast-growing welding field, as well as the school’s certificate programs and two-year degree in the industry. Welders are in high demand in South Carolina and nationwide, with demand projected to grow around 8% by 2030, but U.S. Bureau of Labor Statistics projects an estimated annual shortage of more than 49,000 workers. That pipeline problem is mirrored in skilled trades across the board. A Feb. 8 report from the U.S. Chamber of Commerce estimated 11.3 million job openings around the country but just 6.3 million unemployed workers. Fields like durable goods manufacturing have more job openings than there are available workers with experience in the field. The report stated that even if every unem-

ployed person with manufacturing skills was hired right now, that would only fill 65% of available jobs. South Carolina’s technical schools and industry organizations are stepping into the gap to raise awareness about skilled trades and other fields to help shore up the state’s workforce. “The total number of open jobs is astounding to see. We’ve got jobs without people and people without jobs who would be able to fill those positions,” MTC Provost Barrie Kirk said. “Our challenge is to help young people learn what is out there and also help people of all ages who want these jobs to get the training they need.” Workforce development at MTC includes both certificate and two-year programs designed to guide everyone from recent high school graduates to adults looking to change careers toward jobs in high-demand fields, including welding, construction, HVAC and manufacturing, information technology and health care. People who want to learn a new skill relatively quickly can look to MTC’s Corporate and Continuing Education department, with open-enrollment certificate programs in welding, HVAC,

building construction and other trades, said Michael Ross, program director for industrial technologies and trade in corporate and continuing education. The department’s new plumbing program trains students in skills needed in both residential and commercial plumbing in a matter of months. Ross said demand for plumbers is so high in the Southeast that he recently heard from a company in Atlanta looking to hire workers for jobs in both South Carolina and Georgia. “Many people, particularly those in the service industry, saw how quickly their livelihood was affected during the pandemic, and they want to move into something more stable,” Ross said. “Our programs can guide them to these well-paying jobs that are in high demand.” Continuing education students range in age from 20 to 50, with many older students particularly interested in the commercial driver’s license program, Ross said. Outreach to teenagers is crucial for workforce development because the state’s workforce is aging, according to See WORKFORCE, Page 16

Area Hilton Head Charleston Piedmont Beaufort Statewide Greenville Myrtle Beach Aiken Anderson Columbia

Price $469,500 $356,356 $350,000 $337,000 $291,303 $285,000 $275,000 $261,355 $249,900 $245,000

% vs. 2021 +20.6 +12.8% +17.4% +22.0% +16.4% +19.7% +18.0% +22.2% +14.7% +17.1%

Spartanburg

$244,000

+15.0%

Latest residential data*

Nearly every area of South Carolina saw a double-digit decline in the number of days on the market before a house is sold. The Cherokee County region saw a 10.1% increase to 76 days. Area Charleston Greenville Columbia Myrtle Beach Anderson

Now 2,876 2,266 1,975 1,548 852

DOM 24 31 29 117 53

*Year to date, single-family, detached homes Source: South Carolina Realtors

NEXT ISSUE’S FOCUS:

Manufacturing and Automotive

IN FOCUS: EDUCATION AND WORKFORCE DEVELOPMENT

www.charlestonbusiness.com

March 21-April 3, 2022

Community efforts designed to break tech barriers By Barry Waldman

Contributing Writer

hen you search for information on COVID-19, make airline reservations, seek reviews on toasters, videoconference for work or watch your child attend school virtually, you likely take for granted the device on which you work, the highspeed internet connection that makes it possible and your ability to use this technology. The coronavirus laid bare the existing inequity in digital access and literacy in low-income communities around the tri-county area. Despite urgent efforts by schools to outfit families with devices and high-speed internet, that inequity, and its impact on learning, earning and prospering in those communities, persists. Nearly 100,000 people in the region lack the broadband infrastructure necessary to fully participate economically, academically and recreationally. Take the case of Diane Wynn of North Charleston, who cares for her grandson, Kaysen Johnson. When COVID hit and schools closed in 2020, she was forced to leave her hospitality management job to care for him while his first-grade class met remotely. Though given a laptop by Chicora Ele-

mentary School, their Wi-Fi hotspots cut in and out, disrupting his learning. Wynn lacked the computer literacy to help Kaysen when he ran into issues. When the semester ended, the laptop had to be returned, leaving Kaysen without connectivity to the internet. To combat this problem, Charleston Mayor John Tecklenburg, Tricounty Cradle to Career Collaborative and its many partners launched a Digital Equity and Inclusion Initiative this month. “We’ve learned that access to broadband and digital inclusion were of significant importance to families, educators, businesses and students throughout the tri-county region,” TCCC Executive Director Phyllis Martin said. “We all know that internet and online learning are critical to in school and out of school academic achievement and are vital to sustain the economic vitality and growth of our area.” Comcast offers high-speed internet service to low-income families in the Charleston metro for $9.95 a month, with 35,000 customers signing up for the service. As part of this initiative, the company has launched the state’s first “lift zone,” free gig Wi-Fi at St. Julien Devine Community Center on Charleston’s East Side. TCCC has placed a navigator in the center to help families access the internet and

Charleston Mayor John Tecklenburg speaks about a digitial equity and inclusion initiative at the city offices in March 11. (Photo/Provided)

use the devices. A series of events is planned for the city’s digital inclusion and equity week, including a fair at Trident Technical College’s downtown campus at 66 Columbus St., which included signups for Comcast’s discounted broadband, a resource fair and the giveaway of 50 Chromebooks. Events also are planned for Berkeley and Dorchester counties in April. A variety of Lowcountry programs target digital literacy, provided by a host of

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groups including the Charleston County Public Library, Women In Tech and Goodwill, but Martin expressed the need to align and integrate these resources. TCCC proposes to send advocates into low-income communities to gather firsthand information about barriers to digital access and “support families on their tech journey and make the connection to activities that enhance their lives including telehealth and telemedicine, online banking and training and education,” Martin said. CRBJ

March 21-April 3, 2022

IN FOCUS: EDUCATION AND WORKFORCE DEVELOPMENT

www.charlestonbusiness.com 15

Knudt Flor has taken on a new role as College of Charleston’s senior vice president for innovation and industry engagement. He also will help the school build the college’s new engineering program. (Photo/BMW)

Former BMW CEO bridges gap between higher ed, global industries By Teri Errico Griffis

tgriffis@scbiznews.com

t was serendipitous when College of Charleston President Andrew Shu met Knudt Flor. Hsu was invited to the former BMW president and CEO’s retirement party last year. Never having met before, the two struck up a brief conversation about higher education not meeting the needs of the industry. Flor said that for BMW that translated into years of additional training for new employees. “We had a couple conversations after that,” Hsu said. “And I said, ‘You know, if you don’t like the situation, come and help us change it.’” In January, Flor took on the role of College of Charleston’s senior vice president for innovation and industry engagement and distinguished professor of practice. In this new role, the former CEO will guide faculty and staff as the college creates innovative curriculum that appeals to both employers and students. He’ll also assist in developing CofC’s new engineering program. “Many of our traditional engineering schools that have been there for 100

years are still teaching based on what was needed 50, maybe 100 years ago,” Hsu said. “We have the advantage of building something from scratch. I equate it instead of working on the platform of Honda or Ford, we’re building a Tesla.” Through the program, Flor will put to use his 33 years in the manufacturing industry, and the connections he’s created, recruiting businesses around the world to collaborate with the Charleston college. Think global internships, curriculum influenced by brand-name CEOs, European universities sharing their techniques. Hsu calls the initiative revolutionary for the school and its strategic plan to broaden diversity, innovation and industry engagement. “We want to be the most innovative university in the world… And I think Knudt’s going to help us really speed up innovation on our campus,” Hsu said. The college president searched for two years to find an ideal candidate, wanting someone not only with industry, but world experience. Flor began his role as engineer of production at Engine Plant in Munich in 1988 rising to executive roles in Africa, Asia, Europe and North America. For the last five years, he served as president and CEO of BMW Manufac-

turing Co. in Greer. Within his first 10 days on the job at CofC, Flor picked up the phone and secured buy-in from nearly 15 global manufacturing companies. Each jumped on board because they too see a need for a stronger collaboration between higher education and the workforce. The advantage of Flor’s past and his successful reputation, he said, is that business leaders trust him to know what he’s talking about. “We all have the same problem. This is not a BMW problem,” Flor said. “Industry is the easy part. To get the students, the professors, the progress so that we do not over promise and under deliver, this is the more interesting part.” To revamp the industry, Flor envisions new professors, closer relationships with businesses, internships where students solve real-time industry problems. His goal is to put changes into action this year because the industry is already evolving. “This has to be an undergraduate program in very, very close relationship with the industry because we need to gain a lot of speed,” Flor said. “When a student goes through a four-year cycle they need to be ready when they leave the college.

The former CEO joked he could have enjoyed his retirement a little longer— preferably on the golf course— but Hsu’s “pull” drew him back to work. Flor calls academia his fifth continent, a new challenge to his leadership toolbox. “If there’s a pull, there are people that want to change, and that is at the end the driving force — the willingness to change,” Flor said. “Not to talk about it and do what you’ve always done.” This new role provides him the opportunity to act, to create positive change throughout not only South Carolina, but potentially the globe. If the state doesn’t have the workforce, fix it. Connect with industry leaders and state legislators, parents and schools. Refocus the education system to encourage students to study physics, mathematics. Show them the industry isn’t dirty and neglected. Attract them to jobs and help change realize how expansive their future is. “We have money. We have technology. We have investment in the issue. Our biggest issue is people,” Flor said. “Business is people… people bring headcount. And people are willing to stay in South Carolina.” CRBJ

Reach Teri Errico Griffis at 843-849-3144.

www.charlestonbusiness.com

WORKFORCE, from Page 13

statistics from the S.C. Department of Employment and Workforce, which show 24% of skilled professionals near retirement age. That includes 48% of commercial truck drivers who are 53 years or older and 53% of skilled construction employees 45 or older. MTC works to get high school students interested in skilled trades through programs such as dual enrollment, which allows students to work toward a high school diploma and an associate degree at the same time, said Darrah Kennedy, dean of enrollment at the school. Paid apprenticeships are another way to introduce teens to work in various industries, Kennedy said. The school’s Midlands Youth Apprenticeship allows high school students to receive paid on-the-job training along with job-related education at MTC. Apprenticeship Carolina, run by the S.C. Technical College System, also seeks to fill the workforce gap. Adults can enroll in registered apprenticeships, which combine on-the-job training with pay and related technical instruction. Youth apprenticeships give high school students a chance to learn on the job in various fields while also receiving training at both their high school and a technical college. Since 2008, the program has led 40,230 people to work in apprenticeships statewide, with apprenticeships currently

IN FOCUS: EDUCATION AND WORKFORCE DEVELOPMENT

available in 1,775 occupations in fields including advanced manufacturing, construction, energy and utilities, health care and information technology. In Charleston, Trident Technical College partnered with Trident Health to enroll 15 youth apprentices who complete pre-nursing coursework as well as certified nursing training at the technical college while also apprenticing as certified nursing assistants. “Apprentices are the pipeline to the future in curbing the anticipated nursing shortage,” said Roanna Payne, generalist clinical professional educator for Trident Medical Center, on the Apprenticeship Carolina website. One sector facing a drastic shortage of employees is commercial trucking, with an estimated nationwide shortage of 80,000 drivers. “We expect the shortage of drivers to get worse before it gets better, and as a result there’s a real sense of urgency to get more people interested in the industry,” President and CEO of the S.C. Trucking Association J. Richards Todd said. Aware that other skilled trades face the same problem, Todd led SCTA in a partnership with the Associated Industries of South Carolina Foundation to create a workforce development program on wheels called Be Pro Be Proud. Launched in September 2020, it offers a mobile hands-on experience designed to get high school students and others excited about

A welder works during Midland Tech’s statewide contest with more than 40 high schoolers from across South Carolina. (Photo/Christina Lee Knauss)

jobs in trucking, construction, welding and other skilled trades. The program provides a customized tractor trailer where students interact with virtual reality stations and simulators that allow them to explore work in skilled trades. The mobile unit, staffed by two team members, visits high schools, tech schools, and job development events and is often booked more than a semester in advance. Todd said the program

March 21-April 3, 2022

has reached almost 5,000 students at 100 schools. “We launched at the height of the pandemic. Very quickly the schedule was backed up, and we now have a waiting list,” Todd said. “We’ve heard feedback from students, teachers and guidance counselors that the program has really increased the interest in trucking and the other skilled trades for those who take part.” The SCTA also developed a commercial driver’s license prep program to train high school students interested in trucking, currently available at Eau Claire High School in Columbia and Cope Career Center in Orangeburg County. Students take courses to prepare for the written and equipment proficiency components of the CDL test so they will already have some working knowledge when they turn 18 and can apply for a CDL permit. Workforce education programs not only help industries but also lead people to new employment opportunities. Columbia resident Broderick Smith, 40, has been interested in plumbing since he was a child and decided to enroll in MTC’s plumbing certificate program. “I feel like I’m learning a job that also contributes to the health and welfare of the community, because without water you can’t do anything,” Smith said. “I want to learn about all aspects of this job because there’s such a great need for it.” CRBJ

Kids have big dreams.

Help your child’s dreams take off with a Future Scholar College Savings Plan. Learn how you can start saving now at FutureScholar.com

Administered by State Treasurer Curtis LoftisTo learn more about Future Scholar and its investment objectives, risks and costs, read the official statement available at FutureScholar.com before investing. Check with your or the beneficiary’s home state to learn if it offers tax or other benefits for investing in its own 529. Not paid for with state funds.

South Carolina State Treasurer Curtis Loftis

IN FOCUS: EDUCATION AND WORKFORCE DEVELOPMENT

March 21-April 3, 2022

www.charlestonbusiness.com 17

College of Charleston students gain access to NASA patents By Andy Owens

aowens@scbiznews.com

he College of Charleston has signed an agreement with NASA to become a partner in the space agency’s technology transfer program, the school said in a news release. This gives College of Charleston students access to NASA’s nearly 1,600 technological patents under the NASA Technology Transfer University, the college said. The T2U program is designed to give students at higher education institutions with NASA-developed technology the chance to work with federal government research and technology. The college said this will allow student entrepreneurs to build case studies with NASA’s patents and explore issues surrounding commercialization of technogy, including licensing of intellectual property. Entreprenurial studies professor Kelly Shaver said the idea is give give students experience that could help them professionally after graduation. Shaver is teaching a technology commercialization course at the College of Charleston, which is part of the T2U program. Shaver taught a biomedical commercialization course with a neuroscientist from the Medical University of South Carolina, the college said. This course brought

The College of Charleston is participating in a technology transfer program that gives students access to NASA’s library of patents. (Photo/File)

together business students from the College of Charleston together with doctoral and post-doctoral research students from MUSC. The students in that course produced feasibility studies for commercial applications for research being done at MUSC.

The S.C. Aeronautical Training Center houses: • Degree and certificate programs • Advanced manufacturing programs and workforce training • readySC’s Boeing Training Center www.tridenttech.edu/scatc.htm AT21-0147

Shaver saw a similar opportunity when CofC joined the NASA program last year, he said. “Like the biomedical commercialization course, this T2U course gives students the opportunity to work on a project thoroughly grounded on existing and patented

technologies,” Shaver said in a statement. Thirty-seven colleges and universities across the country are working under the T2U program, and CofC is the only one in South Carolina. CRBJ

Reach Andy Owens at 843-849-3142.

IN FOCUS: EDUCATION AND WORKFORCE DEVELOPMENT

www.charlestonbusiness.com

March 21-April 3, 2022

Colleges & Universities Ranked by Fall 2021 Enrollment Company

Phone / Website / Email

Top Local Official(s) / Year Founded

Trident Technical College 7000 Rivers Ave. North Charleston, SC 29406

843-574-6111 www.tridenttech.edu infocenter.ttc@tridenttech.edu

Mary Thornley 1964

College of Charleston 66 George St. Charleston, SC 29424

843-953-5670 www.cofc.edu admissions@cofc.edu

Charleston Southern University 9200 University Blvd. Charleston, SC 29406

Enrollment / FT Faculty

Public / Private

Top Three Majors, by Enrollment

11,650 239

Public

Associate in Arts, Associate in Science, Associate Degree Nursing

Andrew T. Hsu 1770

9,300 509

Nonprofit; Public

Biology, psychology, business administration

843-863-7386 www.charlestonsouthern.edu enroll@csuniv.edu

Dondi E. Costin 1964

3,378 189

Nonprofit; Private

Nursing, Biology, Business

Medical University of South Carolina 171 Ashley Ave. Charleston, SC 29425

843-792-2300 www.musc.edu

Lisa K. Saladin, David J. Cole 1824

3,148 1,316

Public

Nursing, RN to BSN, Healthcare Studies

The Citadel, The Military College of South Carolina 171 Moultrie St. Charleston, SC 29409

843-225-3294 www.go.citadel.edu ocm@citadel.edu

Glenn M. Walters 1842

2,858 208

Public

Business Administration, Mechanical Engineering, Criminal Justice

Charleston School of Law 385 Mary St. Charleston, SC 29403

843-329-1000 www.charlestonlaw.edu info@charlestonlaw.edu

Larry Cunningham, Ed Bell 2004

558 23

Private

Juris doctor

ECPI University & Medical Careers Institute 3800 Paramount Drive North Charleston, SC 29405

843-414-0350 www.ecpi.edu jweaver@ecpi.edu

James Weaver 1966

480 35

Private

Nursing, Computer and Information Science, Electronics Engineering Technology

Southeastern College 2431 W. Aviation Ave., Suite 703 North Charleston, SC 29406

843-747-1279 www.sec.edu tvanhorn@sec.edu

2007

220 21

Private

AAS Radiology Technology, AAS Diagnostic Medical Sonography, AAS Occupational Therapy Assistant

Miller-Motte College 8085 Rivers Ave., Suite E North Charleston, SC 29406

843-574-0101 www.miller-motte.edu vanessa.euresti@miller-motte.edu

Vanessa Euresti 1916

200 20

Private

Medical clinical assisting, medical billing and coding, commercial driver's license program

Lowcountry Graduate Center 65 George St. Charleston, SC 29401

843-638-3063 www.lowcountrygradcenter.org akleinfeld@lowcountrygradcenter.org

Alan Kleinfeld 2002

133 -

Public

American College of the Building Arts 649 Meeting St. Charleston, SC 29403

843-577-5245 www.acba.edu handall@acba.edu

Colby M. Broadwater 2004

91 10

Nonprofit; Public

Timber framing, forged iron, architectural carpentry

UofSC Darla Moore School of Business - Professional MBA 4130 Faber Place Drive, Suite 100 North Charleston, SC 29405

803-777-6845 www.sc.edu/moore/pmba pmba@moore.sc.edu

Peter Brews 1975

80 43

Public

International business, finance, marketing, innovation and entrepreneurship

Clemson Design Center Charleston 701 E. Bay St., Suite 202 Charleston, SC 29403

843-723-1747 www.clemson.edu/caah/departments/architecture hraymon@clemson.edu

Ray Huff 1989

62 6

Public

Architecture, Master in Historic Preservation, Master in Resilient Urban Design

Because of space constraints, sometimes only the top-ranked companies are published in the print edition. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to research@scbiznews.com.

Researched by Business Journal staff

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BUSINESS DIGEST | PEOPLE IN THE NEWS | HOT PROPERTIES

Business Digest

People in the News Annual CofC Day raises $6.7 million for college

The College of Charleston held its annual CofC Day, bringing in cash gifts totaling $6.7 million, the college said. In a 24-hour giving window, 2,554 donors donated to the college, which is an increase of 33% over last year. The College of Charleston said that more than 500 donors were currently students. Nicholas Glover, class of 2005, pledged a donation of $50,000 along with the participation of 1,000 alumni. The college said that goal was reached by 7 p.m. “The College was a great investment for me,” Glover said. “I’m happy to give back so future generations can thrive in the same diverse, liberal arts setting that helped shape who I am.”

Frampton Construction completes distribution center

organizations. Hall’s book demonstrates best practices and methodologies to help businesses create a place of purpose where they can “pursue their passion,” the company said. Toy’s Charleston-based company has worked with organizations and businesses to create effective team building.

Frampton Construction Co. LLC finished work on a 1.02 million square-foot industrial building located within the

Best in American Living honors Nexton development

Charleston Trade Center in Summerville. Commercial owner and developer, The Keith Corp., developed the project in a joint venture with Singerman Real Estate, a Chicago real estate investment firm. Frampton said that Twin Star Home, a designer and manufacturer of living products, will occupy the entire space. The building was constructed using a concrete tilt-walls and a structural steel frame. The cross-docked facility has 120 doors, including two drive-in doors, with a 40-foot clearance. Frampton also built a 4,000 square-foot office, restroom facilities and other tenant upfits for Twin Star Home, the company said.

of Hamby Catering & Events along with the company’s footprint in the Charleston Community. In The Black implemented a relaunch with new fonts, colors and patterns, the company said, to better capture Hamby’s “Southern style and flair, while still reflecting the brand’s longevity in the community and tradition of women in leadership roles.”

Workplace culture program designed to reduce resignations

Troy Hall, author of Cohesion Culture: Principles to Retain Your Top Talent, has teamed up with Ben-Jamin Toy, founder of On Purpose Adventures to

Hamby Catering & Events partners with consulting firm

Hamby Catering & Events redesigned the company’s website with the theme of “Love at first site” with partner In The Black Marketing and Consulting. The redesign and relaunch has been under development over 10 months, the company said. Hamby said the website launch was a conceptual reconfiguration and brand redesign to reflect the traditions

Nexton, a mixed-use, master planned development in Summerville, has been

help companies attract and retain talent. Hall and Toy have establishd the Cohesion Culture program to share a culture wellness program with businesses and

awarded two gold 2021 Best in American Living Awards by The National Association of Home Builders Design Committee. Nexton was honored in two categories: Mixed-Use Community and Green Commu-nity. Best in American Living is a national building industry’s residential design awards program, which highlights industry professionals that redefine design excellence for homes and communi-ties, Nexton said. Nexton has 2,000 homes and townhomes, six apartment communities, medical offices, a school, and a shopping and dining district. The development is owned by a business division of North America Sekisui House LLC, is under development developed by Newland. The awards were were presented during the International Builders Show.

CONSTRUCTION Red Bay Constructors has hired James “Jim” Kearney as a project executive in the North Charleston office. Kearney has held a variety of positions in the comKearney mercial construction industry throughout his 37-year career. He began as a mason and concrete finisher and worked his way up to various leadership roles, including foreman, field supervisor, project manager, director and vice president of operations before ultimately owning his own concrete contracting company. He will be responsible for managing large commercial projects and overseeing the project lifecycle at Red Bay. Kearney is a licensed residential building inspector and holds a North Carolina general contractors license. SEPI has hired Josh Bauer in the company’s Charleston office. Bauer has more than 20 years’ experience in the transportation industry throughout the Southeast, spanning over all facets of local, state and federal roadway design for Bauer the S.C. Department of Transportation, Florida Department of Transportation and the counties of Berkeley, Charleston, Lexington, Richland and York. As South Carolina transportation practice lead, Bauer is responsible for continuing the momentum of transportation and roadway design services across South Carolina, while focusing on existing and future client relationships and experience with S.C. DOT and municipalities. Cullum Constructors Inc. has recognized Heather Farrow for her contributions to the development of their design build department, by announcing her title change to design build coordinator. This title is more descriptive of the role she has Farrow been performing for some time. Design build provides design services as well as See PEOPLE, Page 21

www.charlestonbusiness.com

March 21-April 3, 2022

PEOPLE, from Page 19

conceptual budgeting, value engineering, BIM modeling and prefabrication for selected projects. Farrow has been at the center of the effort to better support construction projects since joining Cullum in 2016.

ENGINEERING The Charleston Engineers Joint Council named Gafar Elamin, Ph.D., Engineer of the Year at the organization’s annual Engineers Week Banquet on Feb. 22 at The Citadel in honor of National Engineers Week, Feb. 20-26. Each year, the CEJC selects an engineer, scientist or technology professional in the Lowcountry that demonstrates exceptional career development and professionalism, along with local community leaderElamin ship and outreach as its Engineer of the Year. Elamin, is an assistant professor of mechanical engineering at The Citadel, whose numerous educational and community accomplishments have served to distinguish him among his peers. Whether serving students as a teacher, motivating youth as a mentor or cultivating his mechanical engineering talents to lead

cutting edge research, he has demonstrated a lifetime of exceptional service to STEM education.

HEALTH CARE Trident Health has named Jane Appleby, M.D., as its new chief medical officer. Appleby joins the health system from 1,000-bed Methodist Hospital and Methodist Children’s Hospital in San Appleby Antonio. She is board certified in internal medicine, hospice and palliative medicine. She earned her medical degree and completed her residency at University of Texas Health San Antonio. At Trident Health she will work with a medical staff of more than 600 physicians. The Gilston Agency has added Kimberley Drakeford to their team. Drakeford graduated from the College of Charleston with a bachelor’s in communication. Her role Drakeford at the Gilston Agency is working directly with group agents exploring medical and

ancillary insurance options for small to mid-sized businesses. Specifically, her duties include assessing group quote requests, completing quote requests, working with agents to seek alternates or additional lines of coverage if appropriate, scrubbing and submitting new sale paperwork and finalizing all internal systems for sold and renewal cases.

NONPROFIT Wings for Kids has appointed Kerri Chisolm, Rahul Dembla and Michael Toscano to its board of directors. Chisolm is the senior vice president commercial banking relationship manager for Ameris Bank where he expands commercial banking relationships throughout the Southeast. He graduated from The Citadel with a bachelor’s in accounting, actively participates in the North Charleston Rotary Club, is a board member of Lowcountry Local First and Charleston LDC, volunteers as a youth soccer coach and gives talks at The Military Magnet Academy. Dembla is the senior director, financial and resource planning at Santee Cooper. He graduated from the Indian Institute of Technology, Roorkee, and New York Univeristy Stern School of Business with an MBA in finance. He previously worked for Barclays Investment Bank and Lehman Brothers and was recognized by India’s central board of education for being among the top .01% in mathematics

nationwide in 1990 and 1992. Toscano is a graduate of the American Culinary Federations’ Apprenticeship hosted through North Carolina’s Pinehurst Resort. In New York City, he worked at Thomas Keller’s, Bouchon Bakery and Mario Batali’s Babbo. In 2012, he opened Perla in Greenwich Village to accolades in Esquire. He owns and operates La Farfalle in Charleston and da Toscano in New York City.

REAL ESTATE West Shore has promoted Kristi Sinnott to vice president of property management. Sinnott has more than 18 years of experience in the multifamily industry, beginning her career in the Atlanta market, overseeing a mix of tax credit, conventional and new construction assets. She has been recognized for severSinnott al awards, including the 2008 Rising Star Award, the 2011 Property of the Year Award and the 2012 Circle of Excellence Award, and was nominated for the 2016 Regional Property Manager of the Year in Charlotte. In her new role, she is responsible for managing West Shore’s national multifamily portfolio and overseeing the physical, financial and administrative operations of the properties. CRBJ

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DAY IN THE LIFE Since 1992, Fisher Recycling in North Charleston has been a waste hauler that recycles commercial and residential glass in the tri-county. When owners Elizabeth Fisher and Chris Fisher were looking for a new stream of revenue for their small, family-owned company, they turned to making surfaces out of the colorful glass. They create indoor and outdoor surfaces, fireplace surrounds, tabletops, benches, shelving, counters and more.

FISHER RECYCLING IN NORTH CHARLESTON

By Teri Errico Griffis Photography by Kim McManus

Fisher Recycling collects glass bottles of all kinds from Charleston restaurants, offices, hotels and homes. Bottles are piled behind the facility until they’re ready for use.

Fisher uses a tine forged cultivator to sort the bottles into colors, which are stored outside in wooden boxes. Commonly used glass includes Bacardi bottles, blue Bombay Sapphire Gin and yellow-hued chardonnay bottles.

Glass is pulverized on-site on an as-needed basis. A machine can break up glass into various sizes, depending on customer requests. Paper is rubbed off later during the polishing process.

Glass and resin are poured into molds, measured to each customer’s design. Glass is commonly poured in, but some customers get creative, adding shark teeth or special handplaced items.

Once the surface is molded, the slab is polished clean with water by Fisher Recycling’s custom machine. No chemicals or cleaning detergents are used.

Customized surfaces can be created in an array of colors. Glass or oysters mixed in give each pattern an individual design.

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March 21-April 3, 2022

Russian economy being crushed, but Kremlin not budging on Ukraine Target your market in an upcoming issue of the Charleston Regional Business Journal

APRIL 4

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he Russian economy is a fraction the size of the U.S. economy and an even smaller percentage if one adds in the GDP of its NATO allies. The imposed sanctions combined with an impressive unwillingness by private sector firms around the globe to do business with Russia have, for all practical purposes, shut down Russia’s economy. But none of that matters. Putin continues to destroy Ukraine and has no intention of backing away. He is STEPHEN there. He is staying. SLIFER And he has nuclear weapons. While the allies could further undermine the Russian economy by cutting off more of Russia’s ability to sell its oil, they are reluctant to do so because that action would undoubtedly escalate the conflict. When your enemy has nuclear weapons such fears are legitimate. If the goal is to undermine the Russian economy and constrain Putin’s ability to fight future

Ranking

GDP (trillions)

Population (millions)

Per Capita Income $

U.S.

$22.94

333

$69,375

China

$16.86

1,413

$11,891

Japan

$5.10

125

$40,704

Germany

$4.23

$50,788

U.K.

$3.11

$46,200

India

$2.95

1,389

$2,116

France

$2.94

$45,028

Italy

$2.12

$35,585

Canada

$2.02

$52,791

S. Korea

$1.82

$35,196

Russia

$1.65

145

$11,273

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wars, that objective can be attained. But if the goal is to punish Putin for destroying Ukraine and force Russian forces to withdraw, that objective is unlikely to be attained in the absence of military action. Thus, Putin appears to have achieved his goal of controlling Ukraine. While he is paying an enormous price at home he does not seem to care. How will all this end? We do not know. Perhaps the situation at home will become so bleak that the wealthy Russian business people supporting Putin withdraw their support. Or perhaps Russia’s military leaders conclude that he is unstable and turn against him. Our guess is that the solution to this situation will probably be resolved by the people of Russia rather than action by Western countries designed to stop him. What is clear is that the risks of a bad outcome have increased, and there will be no quick solution. GDP in the United States is almost $23 trillion. Russia’s economy is the 11th-largest in the world with GDP of $1.6 trillion. Per capita income in the U.S. is $69,400. In Russia, it is $11,300. Russia is, therefore, a moderate-sized, relatively poor country.

By restricting Russia’s access to the SWIFT network, the allies have effectively limited the ability of Russia to attain foreign capital. By freezing the Russian central bank’s assets and the assets of wealthy Russian oligarchs, they can no longer tap their previously accumulated wealth. This action has crushed the Russian ruble, which has fallen in value by more than 90% from 75 rubles to the dollar a couple of weeks ago to 142 per ruble today. That means that imported goods in Russia have just skyrocketed in price. Firms around the globe have announced that they will no longer do business in Russia. Thus, firms in Russia will have considerable difficulty selling whatever they produce to anyone else in

the world. They will have challenges trying to find the materials they need for production. The Russian stock market has been shut down for more than a week. Prior to its closing it had fallen 40% from its mid-October peak with most of that drop occurring in the past couple of weeks. A drop of that magnitude will undoubtedly force a number of Russian companies to become insolvent, and they will have to close their doors. With an inability to sell their merchandise many of these firms will need to borrow money to stay afloat. But the Russian central bank last week raised its key interest rate from 9.5% to 20.0% in an effort to stabilize the ruble. CRBJ

Viewpoint

VIEWS, PERSPECTIVES AND READERS’ LETTERS

Commercial space crunch means companies require efficiency

s we continue another quarter with increased industrial warehouse demand and a limited supply, vacancy continues to drop as rates rise. Colliers’ Q4 2021 Charleston Industrial Market Report reported a 3.73% vacancy rate. That’s a significant decrease compared to Q3 2021’s 4% vacancy rate as demand is not slowing down. The industrial market is extremely competitive and may be difficult to navigate for a user looking for more capacity. As an industrial CHLOE broker, it is imperaHEILIGENSTEIN tive to think outside the box for clients and provide creative solutions, but the current state of the market has created unprecedented challenges. More than once, a client has had to reconsider expanding or relocating due to the lack of available space. However with the right guidance, it is possible to adapt to current conditions by realistically managing and planning for the future while working and operating in the space you currently occupy. Currently, roughly 7 million squarefeet of industrial inventory is under construction in the Charleston market with an additional ±12 million square feet proposed. Unfortunately, construction delays are a constant struggle as materials are stuck on ships in the Pacific. In some cases, factory shutdowns have tripled delivery times for crucial materials. The issues with our supply chain are well known and will not be resolved anytime soon, yet consumers will still expect products to be delivered as quickly and efficiently as before. The solution to this will be last-mile delivery and preparation for delays. It’s time to think creatively and incorporate both short-term and long-term solutions into your operation. Efficiency is key, putting end users in a sink-or-swim scenario. Let’s start short term; maybe it’s time for you to evaluate your racking system. If there are pallets all over the floor and you no control over how products are stored, a way to optimize operations may be to re-evaluate your racking system. Racking over dock doors to utilize excess space by storing finished goods, pallets, etc. can be an efficient way to maximize your square footage which is crucial in current market conditions. Another option is to create tunnels in your an existing racking system. This

Roughly 7 million square-feet of industrial space is under construction in the Charleston area with 12 million more proposed for the region, but there are several challenges before that space can be brought into the marketplace, and businesses might have to wait for developers to overcome uncertainties first. (File Photo)

allows you to prioritize inventory and store product that is not being used or sold. Some companies are using containers for mobile warehousing as they may not immediately need that product that is taking up capacity in the warehouses. Additionally, ceiling heights in new construction are getting taller which is a great way to take advantage of that space. For both scenarios, this is a great short-term solution in storing finished inventory. Lastly, when discussing short-term alternatives, a mezzanine is always efficient and can optimize operations. The investment is worth it. As more permanent solutions are set up, end users can evaluate the benefits of reorganizing aisle width for a narrower configuration. It’s important to note that implementing this solution will take time as your operations managers need to understand the distribution center operations as a whole and then evaluate

the cost/benefit of having more forklifts. Another example would be the concept of pop-up warehousing, but as attractive and “easy” as this may sound, land, materials, municipality pushback, etc. are all obstacles an end user must work through – similar to finding a new warehouse facility. Thinking more long-term, many 3PL’s are incorporating more contract logistics into their business model which offers end-users more flexible warehousing terms. We’ve seen companies like GXO who have seen tremendous success in implementing contract logistics to decrease the reliance on forecasting future demand. While end users need to think long term in how to solve and mitigate risk, it is also crucial to think short term in how to work with what they have as the market builds more industrial inventory as quickly as the market allows. End users are in a difficult situation as

they must think creatively and diversify their physical industrial real estate footprint. Our team at Colliers is extremely bullish for the future of Industrial Commercial Real Estate warehousing and we look forward to working with many end-users to problem solve and mitigate risk exposure. Chloe Heiligenstein is a brokerage associate for Colliers International in Charleston. Contact her at 843-990-7802 or chloe.heiligenstein@colliers. com.

We want to hear from you Write: Andy Owens, Executive Editor Charleston Regional Business Journal 3265 North Carolina Avenue, Suite 101 North Charleston, SC 29405 Email: aowens@scbiznews.com

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March 21-April 3, 2022

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