BEST ADVICE Gillian Zettler, Charleston Wine and Food
PAGE 4 VOLUME 26 NUMBER 10 ■ CHARLESTONBUSINESS.COM
Part of the
MAY 4 - 17, 2020 ■ $2.25
network
Uncertainty hits state, local budgets
Academic upgrade The Citadel prepares to replace Capers Hall with more modern building. Page 8
By Patrick Hoff
T
Airlifted aid
Boeing Dreamlifter used to bring face masks for Prisma Health, MUSC from China to the Upstate. Page 3
Long road ahead
Experts say full return of Charleston’s tourism industry may be years away. Page 15
Rolling on
Food trucks transition business from private parties to serving neighbors. Page 19
INSIDE
Upfront................................. 2 SC Biz News Briefs................. 3 Best Advice........................... 4 In Focus: Hospitality and Tourism...... 15 List: Area Attractions.......... 20 At Work............................... 21 Viewpoint............................23
An 1849 map shows the peninsula after construction of the High Battery sea wall. Over one-third of the present-day peninsula was “reclaimed” by landfilling the intertidal zone, which exacerbates flooding issues. (Map/Army Corps)
Holding back the sea
Army Corps presents potential solution to coastal flooding By Patrick Hoff
H
phoff@scbiznews.com
alfway through a study on how to protect the Charleston peninsula from coastal flooding, the Army Corps of Engineers is seeking public input on
a potential solution: a wall around the city. The Army Corps of Engineers Charleston District began its $3 million coastal flooding study of the Charleston peninsula in October 2018 with funding from the federal See FLOODING, Page 6
Horses on hold
Carriage companies struggle during peak season as COVID-19 halts in-person tourism business. Page 15
phoff@scbiznews.com
he S.C. state budget is in limbo after the coronavirus pandemic short-circuited the General Assembly’s process in mid-March. The state House passed its budget at the end of February, but the General Assembly was sent home before the Senate could finish its deliberations and vote. The Senate passed a continuing resolution last month to keep the government open if a budget isn’t passed by June 30, when the fiscal year ends, but the House has yet to vote on that measure. Complicating the budgeting process is the uncertainty that looms over two of the state’s revenue sources: sales taxes and income taxes, which have slowed as more than 341,730 South Carolinians have filed for unemployment and nonessential businesses were closed for most of April. A report from the Center on Budget and Policy Priorities, a nonpartisan research institute based in Washington, D.C., said states could face up to $105 billion in budget shortfalls this fiscal year, which for most states ends June 30. Next fiscal year, the report said states could see up to $290 billion in shortfalls. In a separate report, the center said onethird of states are unprepared for a moderate recession. South Carolina was not one of them; according to the report, South Carolina’s reserves were about 16% of the state’s general fund, which are about where they should be. In general, the center said, states should aim for reserves equal to at least 15% of their budget. Still, the center said states’ reserves won’t See BUDGETS, Page 5