Charleston Regional Business Journal - July 27, 2020

JEFF HOWARD Owner of The Howard Agency, Brightway

PAGE 4 VOLUME 26 NUMBER 16 ■ CHARLESTONBUSINESS.COM

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Businesses use billions to save 658,000 jobs

Cable stayed

The new, new Cooper River bridge turned 15 in July.

Check out the stats under the bridge. Page 2

By Andy Owens

B

illions of dollars in federally backed loans flowed onto the balance sheets of 63,000 S.C. companies over the past few months, all against a backdrop of a global pandemic that transformed into an economic crisis.

The Paycheck Protection Program, quickly passed

by Congress under a larger coronavirus relief package, made low-interest loans available for businesses to keep employees safely at home but still on a company’s payroll.

In thousands of loan applications, S.C. businesses said the money would help save a total of 657,957 jobs

Mortgage issues

With $600 jobless benefit set to expire, mortgages might hit a crisis point.

Page 11

Retailers hopeful

Retailers learning to adapt and diversify during the coronavirus pandemic.

Page 6

Rooms for rent

Hotel industry hopes to bounce back after 2020 undercut business outlook.

Page 7

INSIDE

Upfront................................. 2 SC Biz News Briefs................. 3 Best Advice........................... 4 In Focus: Banking and Finance........... 9 List: Credit Unions............... 14 Bonus List: Accounting Firms................ 15 At Work...............................35 Business Digest....................35 People in the News...............35 Hot Properties......................37 Viewpoint............................39

aowens@scbiznews.com

See PPP, Page 8

LIFTING UP The International African American Museum reached a significant structural milestone with the lifting of the topmost beam onto the structure overlooking Gadsden’s Wharf. The steel beam carried signatures of community leaders and supporters atop the museum, set to open in 2022.

Page 5

Forty Under 40

Virtual Legal Clinic helps small businesses navigate COVID-19

By Jenny Peterson

S

Contributing writer

mall-business owners and nonprofit operators can get help navigating the uncharted waters of legal issues caused by COVID-19.

Any business or nonprofit organization in the state with up to 25 employees can apply to the S.C. Virtual Legal Clinic for a free, 45-minute consultation to discuss their COVID-19-related business concerns with a lawyer and expert in the field.

Meet the class of Forty Under 40 for 2020, including photos, profiles and, in some cases, advice from the honorees.

Page 17

See LEGAL, Page 6

Upfront

BRIEFS | FACTS | STATEWIDE NEWS | BEST ADVICE

Building a bridge

T

he Arthur Ravenel Jr. Bridge opened 15 years ago this month, on July 14, 2005. As anniversaries go, 15 years isn’t one of those milestones that gets celebrated like Charleston’s 350th, but 15 years ago was a significant moment in how people and commerce move throughout the Lowcountry.

It’s hard now to remember when crossing the Cooper felt like a roller coaster ride, but thousands of commuters did it every day. More than a few of us recall gripping the wheel while crossing the John P. Grace Memorial Bridge, opened in 1929, and the Silas N. Pearman Bridge, opened in 1966. The Ravenel bridge replaced them both.

You had to hope for a lot of grace going across the Grace, to be sure. Those skinny railings, that singular break-down spot in the dip between the humps — it sure felt like you were rolling the dice at times. And back before the Pearman was built, the Grace was a two-way thoroughfare.

For a small sense of scale, you can still walk across the pilings of the Pearman bridge, which were used to build the pier at Mount Pleasant Memorial Waterfront Park.

Photo/Ryan Wilcox

$675.2 MILLION

The price for replacing the bridges with the newest Cooper River bridge, according to the U.S. Department of Transportation. The bridge was paid for through several sources, including a $325 million grant from the S.C. Transportation Infrastructure Bank, a federal transportation loan of $215 million, and another $135.2 million from other federal and state sources.

537 FEET

The height of each of the two towers of the Ravenel Bridge. For comparison, the top of the Pearman bridge came just above the roadway of the Ravenel.

1,546 FEET

At the time the new Cooper River Bridge was built, it was the longest cable-stayed bridge in the world. That has since been surpassed, but it’s still a massive bridge.

The John P. Grace Memorial Bridge opened in 1929, crossing the Cooper River between Charleston and Mount Pleasant. This photo from 1953 shows the approach to the Grace from the Charleston side of the river. (Photo/S.C. Department of Transportation)

128

30 MILES

1,396,000 POUNDS

1995

Number of cables supporting the bridge deck, using two spans.

Nearly 1.4 million pounds of stone, or 698,000 tons, were used to secure and build the bridge, which was designed to withstand earthquakes, hurricanes and even a ship collision.

That actually happened in 1946, when a freighter knocked out a 240-foot section of the Grace bridge.

8 LANES, 12 FEET

The bridge was built for eight lanes of traffic, but at one point, the design of the bridge did not include a pedestrian and bike lane. Stakeholders in Charleston, including Mayor Joe Riley, insisted that residents and visitors be able to cross the bridge on foot, so the 12-foot-wide lane was added on the ocean side of the bridge.

Distance from which the bridge can be seen across the Lowcountry. The bridge’s two spans were designed to look like the sails of a ship.

If you want an up-close look at the old bridges, Die Hard with a Vengeance, the 1995 Samuel L. Jackson and Bruce Willis action thriller, was partially filmed on the Grace bridge.

50 CENTS

The old Grace bridge originally had a toll of 50 cents per car, with a 15-cent-per-passenger premium, and more for trucks.

Today, that would be $7.58. The toll was eventually lifted after the state purchased the bridge for $4.15 million in 1945 from the Cooper River Bridge Co., which completed the bridge two months before the stock market crash that signaled the start of the Great Depression.

Source: S.C. Department of Transportation, U.S. Department of Transportation, Flatiron, one of the partners in designing and building the bridge, Charleston County Parks, IMDb, Library of Congress, U.S. Bureau of Labor Statistics

ON THE

RECORD

“There’s an element of positivity right now. People are wanting to get up and running and get back to business as usual. Businesses are marketing again, and they are looking at strategies and ways to get customers back in the door. The chamber is doing everything we can to connect the dots and ensure businesses stay positive and grow their revenue the best they can.”

— Shane Griffin, president of the Mount Pleasant Chamber of Commerce

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SC Biz News Briefs PIEDMONT

GSA Business Report

Military aviation service provider to establish operations in Greenville County Aero Precision/Kellstrom Defense, a military aviation sustainment provider, plans to establish operations in Greenville County. The company’s $1.2 million investment is expected to create 21 new manufacturing jobs, according to a news release from Greenville Area Development Corp.

Aero Precision/Kellstrom Defense partners with more than 35 original equipment manufacturers and provides military aircraft aftermarket parts and distribution services, repair and overhaul capabilities, along with engineered product solutions, according to the news release.

The new location at 508 Matrix Parkway in Piedmont will be a hub for invenAero Precision/Kellstrom Defense services rotary tory and industry-leading sustainment wing, transport and fighter aircraft. (Photo/Provided) initiatives, the release said.

In March, Aero Precision acquired Kellstrom Defense Aerospace. The combined companies offer tip-to-tail solutions for rotary wing, transport and fighter aircraft to the global defense market and value-added solutions to provide mission readiness to customers.

The new facility is expected to be online by Sep. 30.

WINNSBORO

Columbia Regional Business Report

MLILY USA expanding Winnsboro mattress factory, adding 65 workers Mattress manufacturer MLILY USA plans to expand its Winnsboro factory, adding 65 workers to a third shift and increasing production at the 650,000-square-foot facility by more than 4,000 units a day.

MLILY USA currently manufactures 2,000 mattresses a day with two shifts and 185 employees. The expansion will bring the facility to full employment with 250 workers, helping the manufacturer to meet demand expected to top 6,000 units a day by the end of August, according to a news release from the company.

“As the bedding industry continues its rebound, we are seeing significant growth and expect that growth to continue as more and more retailers and mattress suppliers are looking to fill their product list with mattress made in the U.S.,” Stephen Chen, president of MLILY USA, said in the release. “As retail reopens from the countrywide shutdown due to COVID-19 and fears of supply chain disruptions continue to grow, we are filling the need for a number of leading retailers, as well as meeting the demand for private label contract manufacturers that are looking for domestic supply partners.”The factory opened in December.

MLILY USA is looking to fill jobs on its multiple production lines and in its warehouse as well as sewing and factory supervisory positions. The company recently installed its first robotics machine and has completed an automated racking system in the foam pouring area for foam storage.

“The excitement over our growth, both within the factory and the Winnsboro community, is palpable,” said Chad Reinsel, director of manufacturing for MLILY. VOLUME 23 NUMBER 13 ■ GSABUSINESS.COM Part of the

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In Focus Historic Greer lights up with finished CenterG

By Molly Hulsey

Passenger traffic on the ascent

Pharmaceutical company plans $215.8M expansion.

Page 2

After hitting rock bottom in April, GSP flights pick up.

Page 17

Take me out ... oh

Confidence builder sticks to windows

Minor League Baseball sees 2020 season canceled.

Page 3

Otarre Pointe

Cayce land site of planned mixed-use development.

Page 4

Greenville hopes to reassure diners and travelers.

Page 12

Time for leaders to step up for staff

HOME SWEET HOME?

Affordable housing scarce for many in S.C. Photo/File

Eviction worries

Expiration of moratorium looming for renters.

Page 34

INSIDE

Upfront ................................ 2 SC Biz News Briefs ................ 3 In Focus: Residential Real Estate.........................29 List: Mortgage Companies ..33 At Work ..............................37 Viewpoint ...........................39

By Christina Lee Knauss

C

Contributing writer

OLUMBIA — Nearly every day of the week, the phone rings in Alisa Mosley’s Columbia office. On the other end is someone looking for help finding an affordable place to live.

Mosley’s job as executive director of the Affordable Housing Coalition of South Carolina makes her seem like the logical person to call for someone in need, but all she can do is

offer advice on where to look. The calls, however, never stop coming.

“Our group does policy and advocacy work, but I get calls every day from people looking for housing and reaching out to us trying to find it. It’s constant,” Mosley said.

“It’s a constant problem in this state. I get calls from people in cities. There’s a huge problem in rural areas. I also get calls from seniors looking for housing, especially along the coast where wealthier retirees can often afford housing and those on a fixed income can’t. The

need out there is just so much greater than the number of units available in this state.”

Mosley and her organization are on the front lines of an ongoing fight to get more access to affordable housing for people across South Carolina. It’s a battle that’s not unique to the state. Nationwide, no state has enough affordable rental housing for the lowest income renters, and the situation is not much better for those with slightly higher incomes, See HOUSING, Page 32

Columnist: Employers should look out for employee safety Page 23

Looking ahead for next 125 years Greenville Country Club manager takes the long view for club operations.

Page 4

INSIDE

Leading Off .......................... 2 SC Biz News Briefs ................ 3 C-Suite ................................ 4 In Focus: Hospitality and Tourism ............................. 17 LIST: Restaurants with Banquet Facilities .............. 18 At Work ..............................22 Viewpoint ...........................23

A

Mayor Rick Danner stands in front of Trade Street improvements. (Photo/Molly Hulsey)

mhulsey@scbiznews.com

side from a nameplate inlay in the intersection of Randall and Victoria Streets with Trade Street, on June 30, downtown Greer was a few bricks away from fulfilling a vision eight years in the making. Called CenterG, the streetscape project is a key phase in the town’s master plan.

“There was this point in time that people said ‘Oh my god, what have you done? You have ruined downtown,’” Mayor Rick Danner said as he surveyed the length of Trade Street. “On the flipside of that, just in the last six or eight weeks as the light posts have gone up, as the lights come on at night, as the landscaping has gone in, as the final pieces have started to sort of fall in place, you’re getting ‘Oh my gosh, it looks great!”

By June 30, electricians had beaded turn-of-the-century Trade Street with string lights. Three years and $10.8 million worth of engineering and craftsmanship by Greer Commission of Public Works, Sossamon Construction Co. and designers Kimley-Horn produced a feature that, according to Danner, few southeastern towns can claim — a level

Republic can produce an engine every 30 days to meet demand. (Photo/Ross Norton)

SUMMER 2020

“shared surface” streetscape marked by colored brick instead of paint.

Alternating maroon and umber ribs delineate crosswalks; burnt orange herringbone ringed by a cream parallel-parking lane cordons See GREER, Page 6

ON TRACK Greenville manufacturer revolutionizes industrial locomotive

By Ross Norton

T

rnorton@scbiznews.com

hey’re not the 200-ton behemoths rolling down the CSX main lines, but at 160,000 pounds, the Republic Locomotive model RX500 — the only industrial locomotive made in America — is still imposing when viewed up close, and it packs plenty of muscle for its niche in industrial settings around the world.

Republic has been repairing locomotives at its Greenville headquarters since 1980 when founder Lewis Rhodes of

Icons & Phenoms

ColumbiaBusinessReport.com

S.C. industries respond to unprecedented shutdown

See LOCOMOTIVE, Page 8

Bounce Back

The Columbia Regional Business Report salutes its 2020 class of business and community leaders.

Page 15

Economic upheaval

Experts from help businesses prepare for when the coronavirus pandemic subsides.

Page 11

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Best Advice

JEFF HOWARD

OWNER OF BRIGHTWAY, THE HOWARD AGENCY Story by Patrick Hoff | Photography provided

Senior Copy Editor - Beverly Barfield bbarfield@scbiznews.com • 843.849.3115

“THE BEST ADVICE I’VE EVER RECEIVED

Editor, Custom Publishing Division Steve McDaniel smcdaniel@scbiznews.com • 843.849.3123 Research Specialist - Paige Hardy phardy@scbiznews.com • 843.849.3125

is to simply be the same person in business that I am in my personal life. The same

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fundamental values and integrity that shape me as a person lead me in my profession.

MIDLANDS NEWSROOM

I just want to help people. Becoming an

Editor - Melinda Waldrop mwaldrop@scbiznews.com • 803.726.7542

insurance agent and starting my agency has enabled me to utilize my professional

UPSTATE NEWSROOM

life by helping others and being of service

Editor - Ross Norton rnorton@scbiznews.com • 864.720.1222

to my community. Thankfully, I have had the opportunity to help so many families and get

Associate Editor, Custom Publishing Division Jim Tatum jtatum@scbiznews.com • 864.720.2269

to know some amazing people across our state. I believe any success I have in business

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starts with treating people right and then

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working tirelessly to provide expert council,

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Jeff Howard is a former commercial real estate agent who moved from Texas to Charleston in 2017. Howard opened Brightway, The Howard Agency, in April

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2018 as a way to be more plugged in to the community than he was as a commercial

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real estate agent.

INTERESTING FACT

Howard said other than spending time with his family, his favorite activity is skiing. He first went skiing when he was 6 years old, and since he had no idea what he was doing, Howard turned to his brother for guidance. “He told me if I made it to the bottom of the mountain I would get my favorite ice cream,” he said. “That was all the encouragement I needed, and I have been speeding down slopes ever since.”

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International African American Museum reaches topping-out milestone

A

Staff Report

steel beam with signatures of supporters and community leaders was lifted to the top of the International African American Museum this morning in a topping-out ceremony near Gadsden’s Wharf.

This significant milestone indicates the project is nearing completion of the structure of the building. The 41,760-squarefoot, elevated museum is set to open in 2022.

A groundbreaking for the museum took place in late 2019 after individuals, foundations, corporate donors and government entities poured millions of dollars into the project. But the museum has taken more than two decades to get this far. In 2000, then-Mayor Joe Riley first mentioned the museum in his State of the City address. Since then, more than 1,000 donations have been received for the project.

The International African American Museum will illuminate the story of enslaved Africans’ journey from West Africa to Charleston, the hardship and cruelty they endured, plus their contributions to America, the museum said in a news release.

The museum and a memorial garden will honor the site where those enslaved See who the movers and shakers of the Lowcountry are and what they are up to.

The day before the topping-out ceremony, supporters of the International African American Museum were invited to sign the beam that was lifted to the top of the structure set to open in 2022. (Photos/Beverly Barfield)

Africans arrived in Charleston, and where thousands died; tell narratives that have been overlooked in most history books; and promote compassion and empathy across all races and ethnicities, the museum said.

Cumming has been working with Atlantic South Consulting to provide construction management and consulting services for the project.

“It has been a solemn journey seeing this project continue to come to fruition, and once it is completed, the city

of Charleston will be able to share this global landmark to help foster empathy, understanding and empowerment,” Jonathan Roberts, project manager at Cumming, said in a news release.

Brownstone Construction Group is working with Turner Construction to build the structure of the IAAM. Moody Nolan and Pei Cobb Freed & Partners worked on the design of the building and the museum.

At the groundbreaking in October, Riley was joined by Charleston

Mayor John Tecklenburg and Yvonne Aki-Sawyerr, the mayor of Freetown, Sierra Leone, to talk about the connection between the two cities, an ocean apart.

Riley said the museum overlooking the place where thousands of enslaved Africans came ashore forever will be a place of stories that will challenge the United States as a country to understand its story in a way that has never been told.

“The stories will enlighten us, help us, change us and challenge our country, for that hidden vault is finally and forever unlocked,” Riley said. “We will now know for the first time our complete history, your history, your story — the truth. And we must believe that it is the truth that will set us free.”

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July 27 - August 9, 2020

Retailers learn to adapt, diversify amid pandemic

By Holly Fisher

S

Contributing writer

tephanie Summerson Hall’s strategy for a diversified business model was smart, but in the midst of a global pandemic, it was genius.

Hall’s primary business, Ruth’s House Event Rentals, came to a screeching halt in mid-March when the coronavirus led the state to shutter businesses and force everyone to stay home. Hall had purposely kept her 15-year-old event business smaller and niche, focusing on some long-term clients with annual events, weddings and small corporate functions.

But all were canceled or postponed.

As Ruth’s House Event Rentals’ work paused in the spring, Hall’s newest business venture into the retail space was picking up speed.

In October she launched Estelle Colored Glass, a luxury brand of hand-blown colored glass cake stands and stemware in a mix of jewel tones and soft pastels. The vintage-style pieces are original designs made at a 100-year-old glassmaking company in Poland. Hall was marketing her new business largely on Instagram, sending samples to influencers.

And then came COVID-19. While nonessential retailers closed, online businesses kept selling. With more people at home and surfing social media, Estelle Colored Glass — named for Hall’s grandmother — got a boost.

Hall had a second surge of business in June thanks to social media efforts to bring attention to black-owned businesses. In a span of about two weeks, Hall’s @estellecoloredglass Instagram account doubled from 23,400 followers to 51,500

LEGAL, from Page 1

Two dozen clients have already signed up, including a coffee shop owner, an interior designer, a bakery owner and a CPR and first aid trainer.

They are asking for legal help regarding many issues, such as contract negotiations, loan applications and navigation of government assistance programs, according to Lana Kleiman, executive director of Charleston Legal Access, the nonprofit partner helping implement the program.

Eric Smith, a Greenville-based lawyer with Nelson Mullins Riley & Scarborough, offers his services pro bono through the S.C. Virtual Legal Clinic.

“I had one client who started an indoor soccer company and he signed a lease last December. Right when his business was supposed to get started, COVID hit,” Smith said. “The owner still had to pay a lot in rent and carry a lot of construction costs and hasn’t had any revenue. The issues for him are, ‘How do I negotiate the situation with my landlord? What are my rights?

ing to make up lost revenue, taking extra precautions as the number of coronavirus cases maintains a steady uptick.

Karen-Anne Pagano was excited to open an independent bookstore in Mount Pleasant early this year. The shelves were stocked with new books and she was ready to welcome her first customers on March 21. Instead of opening The Village Bookseller at 761 Coleman Blvd., Pagano made a fast pivot to launch her online store and porch delivery.

When Gov. Henry McMaster said retailers could reopen, Pagano opened her store on May 9. But with 1,500 square feet, she was limited to three or four customers at a time. She’d planned to serve coffee and encourage customers to lounge in comfy chairs, but that is on hold.

By mid-June, Pagano was watching as the number of coronavirus cases rose dramatically in South Carolina. At the same time, her sales aren’t what she’d predicted when she put together her business plan.

“I’m definitely kind of anxious,” she said. “The community support is keeping me going right now.”

In May, retailers began to reopen their doors with limited capacity, and consumers began to venture out to their favorite shops and boutiques. U.S. retail sales were up 17.7% in May compared with April and exceeding growth forecasts, according to the Commerce Department. It was a welcome surge for retail.

Yet some larger retailers like J.C. Penney and J. Crew have filed for bankruptcy.

Small and midsize businesses are work-

That same level of community support spread through Summerville. Rita Berry, president and CEO of the Greater Summerville/Dorchester County Chamber of Commerce, said people were calling the chamber asking how they could help.

“People were worried about the businesses on the historic square,” she said.

“We encouraged them to buy a gift certificate or a gift card that would help with their revenue stream.”

Berry’s been checking in with businesses since they’ve reopened, and she’s

encouraged by the positive attitudes and good spirits. “Everyone seems to just be happy to be open again,” she said.

One of the biggest lessons for businesses has been the ability to adapt and do things differently.

“Several businesses didn’t have an online shopping component and realized the value of that,” Berry said. “Or they started providing a different product or service.”

Longtime Summerville fabric shop People, Places, & Quilts became a vital resource for people who were making masks. Downtown Summerville gift boutique Four Green Fields quickly added an online store, Berry said.

Local chambers also shifted. Both the Summerville chamber and the Mount Pleasant Chamber of Commerce added coronavirus resource pages to their websites, working to provide their members with valuable information.

“There’s an element of positivity right now,” said Shane Griffin, president of the Mount Pleasant chamber. “People are wanting to get up and running and get back to business as usual. ... The chamber is doing everything we can to connect the dots and ensure businesses stay positive and grow their revenue the best they can.”

The Mount Pleasant chamber is continuing to offer virtual events, including a weekly webinar with Mayor Will Haynie and other educational topics. Networking events have shifted to Zoom so members can continue to develop relationships.

“Local small businesses have always been a critical piece of what we do,” Griffin said. “For us, we’re continuing to expand that message. We’re helping businesses succeed east of the Cooper. Every referral, every connection helps.”

How do I even start the conversation?’ ” Complicating matters is the fact that South Carolina did not put a moratorium on construction during the pandemic. Smith said that makes it difficult for a construction company, landlord or tenant responsible for a construction project to legally claim they had a reason to delay.

“Most landlords were very receptive to tenants’ requests to waive or defer a portion of rent, especially through March, April and May,” Smith said. However, in some cases, “We are stuck with the prospect of going back to the landlord and asking for some mercy,” he said.

The legal clinic is part of a nationwide program developed by the Lawyers for Good Government Foundation, a nonprofit network of more than 125,000 legal advocates with lawyers in all 50 states.

Nationwide law firms Nelson Mullins and Jackson Lewis have led the effort to bring these free virtual clinics to nine states, encouraging their lawyers to donate their time and partnering with local legal nonprofits, like Charleston

Legal Access, to qualify businesses.

Currently nearly 50 S.C. lawyers are on standby to consult with applicants.

Each lawyer is trained in the complicated government programs that rolled out in response to COVID-19, including the Coronavirus Aid, Relief and Economic Security Act and federal Paycheck Protection Program, according to Norah Rogers, the firmwide pro bono administrator for Nelson Mullins.

“All lawyers who sign up tell us their subject matter expertise — like if you are an employment lawyer, we will send businesses with employment questions to you,” Rogers said. “The lawyers have the legal questions in front of them beforehand, so they have time to prepare in advance of the consultation.”

Once matched with a client, lawyers set up a 45-minute virtual consultation.

“I enjoy the opportunity to be able to use my experience to give back,” Smith said. “Real estate in the retail and restaurant sectors is my specialty, and landlord-tenant issues is the main area that’s

come into play for me.”

S.C. nonprofits have their own unique legal concerns; those that have contacted the S.C. Virtual Legal Clinic have needed assistance with how to properly administer disbursements from the Paycheck Protection Program.

“There was a lot of confusion for nonprofits to see if they were even eligible for PPP,” Kleiman said. “In general, it wasn’t a smooth rollout.”

Kleiman urges business owners to sign up for consultations as their legal situations change.

“No matter how many webinars you put out, people still have their own unique questions that are personal to their business,” she said. “As unemployment ends and the CARES Act expires, we unfortunately are expecting to see a lot of requests and cases regarding bankruptcy and dissolution of commercial leases.”

Small businesses and nonprofits can register at www.charlestonlegalaccess. org/covid-19clinic. Lawyers can email info@charlestonlegalaccess.org.

followers. She has been working round the clock to respond to media inquiries and messages from retailers interested in selling her products.

Charleston-based influencer Julia Berolzheimer, who has more than 1 million Instagram followers, posted about Estelle Colored Glass, as did Martha Stewart, Elle Decor and Harper’s Bazaar.

“When she (Julia) did that, it was a turning point,” Hall said. “Very influential people have posted about us. Our sales have gone through the roof.”

Hall said she was so grateful for the attention given to her business and other black-owned businesses, many of which were hurting from the pandemic.

The boost in business also allowed Hall to keep Ruth’s House Event Rentals employees working. Instead of delivering event rentals, they were packaging and shipping orders for Estelle Colored Glass.

Being able to pivot quickly and having a diversified business portfolio has long been a sound business strategy, and Hall said COVID-19 reinforced that lesson.

“I think of it as hedging,” she said.

“If one thing is not going well, the other thing is.”

Retail resurgence a mixed bag

Keeping a positive attitude

CRBJ

CRBJ

July 27 - August 9, 2020

www.charlestonbusiness.com 7

Hotel industry hits bottom, expects long climb back

By Ross Norton

I

rnorton@scbiznews.com

f there is a silver lining to the bleak days facing the hotel industry, it’s that Americans have a deep desire to be on the move.

Kirby Smith, vice president of sales and marketing for Greenville-based Auro Hotels, said the American psyche is one that says, “I want to get on the road.”

Through a pandemic that the industry says has been economically nine times worse for hotels than the period following 9-11, there are abundant examples suggesting that people will return to travel with enthusiasm when COVID-19 cases are under control.

Smith said the rate of people making same-day plans to stay at a hotel near home is the highest it’s ever been for the company, which owns hotel properties all over the country, including several in both Greenville and Charleston.

“It’s surprising,” he said. “They literally book that day. If the weather is nice, they make plans and they’ll book the same day. There are still couples and families that want to get out; I think they’re feeling pent up.”

It’s been good for that slice of the hotel industry’s customer base. The problem is,

that slice is a small one.

“I’m not suggesting it’s all well,” Smith said. “We have a long way to go.”

According to the American Hotel and Lodging Association, the travel and leisure industry had lost 7.7 million jobs by April as a result of the pandemic, leaving hotel operators in a fight for survival. Eight in 10 hotels have laid off or furloughed employees, and the association projects 2020 to be the worst on record for hotel occupancy. The association is appealing to Congress for more stimulus relief.

The large slices of the hotel customer base include business travelers and those who travel for events — anything from a professional convention to sports tournaments.

“Where we’re seeing the biggest challenge is in the corporate group segment,” Smith said. The event travelers are trying to make something happen these days as they grapple with decisions on whether to reschedule or cancel until next year.

But the business travelers who have been grounded by corporate policy don’t see a greenlight in the foreseeable future. “Corporate is very soft right now. Corporate America is going to take care of their people first. Some are still traveling but most don’t want to put their associates on the road for fear of COVID-19.”

For that segment, Smith said the level of bookings for 2021 is promising. Still, a turn-around is expected to be a long and steady climb, especially since an end to the pandemic and its economic damage is feeling more elusive.

“This is more sustained than 9-11,” Smith said. “We don’t expect to see normal (bookings) until 2022. It’s definitely picked up. Occupancies are coming back.

They’re not where we want them to be, but I feel optimism.”

He said construction on Auro’s new AC Hotel at Camperdown in Greenville has continued unabated and remains on schedule, although plans for opening the 197-room hotel are undetermined. Auro’s other hotels in the Upstate include the Hyatt Regency in downtown Greenville, and Residence Inn and Springhill Suites — dual hotels under one roof, which opened in early 2019 on Washington Street.

In Charleston, the occupancy numbers have been surprisingly strong, Smith said. Auro properties in the Lowcountry include the Charleston Marriott, the North Charleston Marriott, Courtyard

by Marriott Charleston Waterfront, a Residence Inn and Spring Hill Suites downtown and Townplace Suites near the airport. Hotel occupancy in the area was climbing toward 100% but dropped

off some during the first week of July as COVID-19 cases surged.

“Charleston leisure transient has been surprising to me,” Smith said. “Occupancies are much stronger than one might anticipate in Charleston. It has slowed down a little bit this week (the week of July 1) but Charleston was close to having a lot of sellout hotels.”

According to a survey by the American Hotel and Lodging Association, 89% of hotel operators in May said they were dealing with a significant downturn: 35% calling it dramatic, 33% categorizing it as severe and 21% moderate. Like Auro hotels, the association predicts a recovery period in 2021 and a return to 2019 revenue and occupancy rates in 2022. Resort hotels and business/luxury hotels are faring worst, according to the association.

Smith maintains that he sees reason for optimism. He sees it in the eagerness of staff and guests to make the adjustments necessary to protect one another and get out there anyway.

“The general theme is that people want to get back to normal as soon as possible and normal is to get on the road,” Smith said. “The American psyche is ‘I want to hit the road.’ ” CRBJ

Reach Ross Norton at 864-720-1222.

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• The rising threat ballooning jury awards pose to insurers and the insured.

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July 27 July - August 9, 2020 2020 13 - 26,

PPP data for South Carolina 63,168

Jobs retained in Southeast

The following data shows companies and jobs retained through the loan program for all loans made under the Payroll Protection Program in the following states, ranked by number of jobs.

Number of companies approved for payroll protection assistance in S.C.

55,553

- 1,000 companies receiving loans

Florida Georgia North Carolina Virginia Tennessee Louisiana Alabama South Carolina Mississippi

Companies approved for less than $150,000, totaling nearly $1.87 billion.

7,582

Companies approved for more than $150,000 - $4.9 million in assistance.

33

Companies approved to receive $5 million-$10 million.

657,957

2,567

52,393

Number of nonprofit jobs retained through loans.

3,224,664 1,471,782 1,246,594 973,961 916,996 800,221 672,861 657,957 412,492

Companies who received loans

Total Number of jobs saved statewide

Nonprofit organizations approved for loans across South Carolina.

Jobs retained

11,190

Number of companies with a listing in government data of 0 or no answer provided for number of jobs retained from emergency payroll loans.

Florida Georgia North Carolina Virginia Tennessee Louisiana Alabama South Carolina Mississippi

393,016 156,810 121,913 109,227 93,287 73,827 65,803 63,168 45,814 Source: Small Business Administration data, analysis by SC Biz News

BERKELEY COUNTY

S.C. Bankers Association, said $5.7 billion in loans have been written for companies across the state after coronavirus shutoperating in South Carolina.

SC Biz News generated a searchable online database of downs began cutting demand for prod“It has worked Company City very well for Jobsthe bankcompanies in South Carolina receiving Paycheck Protection ucts and services in early March. ing community, primarily because they Daniel Island 500 Program loans of $150,000 and above as of June 30. This Jem Restaurant Group of Florida have been Many of the companies receiving loans able to help so many of their Jett Florida Bells LLC Daniel Island said. “It 500 under the Coronavirus Aid, Relief and customers, ” Green was a costdatabase includes company names, number of jobs Economic Number Security Act are small busi-for assistance of companies approved of jobs but a very worthwhile one Charleston 466 retained, loan amount Number categories, city retained and ZIP code. Search VDV Management Company LLC ly program, nesses, and 88% of the loans in South based on the end results and saving a lot Century Restaurants Inc. Charleston 439 the database using the QR code at right or by pointing a Carolina were under $150,000. On the of companies and keeping their employbrowser to: bit.ly/ppp-sc Scout Boats Inc. Summerville 387 other end of the scale, some loans went ees on the payroll.”

MVP Group International Inc. 349 changed up to $10 million.

GreenCharleston said COVID-19 has An analysis of Small Business Adminhow customers J. E. M. Restaurant Group Inc. Charlestonsee banks, which 322 had a istration data by the Business Journal didn’t reduce time.” defense contractors, information technol- somewhat damaged reputation after the shows that the fallout from the pandemMariplast lost 70% of its business when ogy companies, religious organizations 2008 subprime mortgage crisis. He said ic threatened employees in every coun- the coronavirus pandemic hit. Bottari said and private schools. businesses are relying on relationships ty with job losses and salary reductions. the company was ready with safety$150,000-$350,000 guideThe Business contacted several withforlocal bankers stay in business TheJournal following companies approved $2 million to $5tomillion loans, Statewide unemployment in February lines and procedures before the full effect companies inthe themost state’s largest cities, but through the pandemic, and they will be for companies and organizations in Berkeley County. was 3.2%, a rate that had held steady for of coronavirus infections hit the Palmetto few were willing to talk about their expe- looking for guidance afterward. eight months.

State. The company was deemed essential rience with theCompany federal program.

“I’m so proudLender of all of them, because $350,000-$1

By May, the jobless rate had risen to because it manufactures fibers used in million Robert A. Chisholm, president everything they could to help VDY Management Co. LLCof M.B. they all didUnited Community Bank 12.4%, the S.C. Department of Employ- personal protective equipment.

Kahn Construction, a builder in Colum- their clients,” Green said. “It just makes Inc. Bank ment and Workforce reported, before “We are from Italy, so we knew in bia that worksArborgen on large-scale commercial me proud to beSynovus a banker. ” Manufacturing Live Oak Banking Co. dipping back down to 8.7% in June. advance what was coming, so we started projects acrossSportsman the state,Boats said the PPP loanInc. small ElenaLess Bottari, co-owner and CFO of all of the precautions very early,” she said. million prevented layoffs and kept than $150,000 Scout Boats Inc.workers on the Loans big and South State Bank $1 million-$2 Even though the majority of the PayMariplast North America in Greer, said Italy was an early outbreak site for the job with benefits, including health insurMVP Group International Inc. Truist Bank check Protection Program loans in South a loan saved jobs and maintained sala- pandemic, with nearly 245,000 confirmed ance.

Inc. Carolina were forSynovus less than $150,000, each ries for workers at her company. The Ita- cases and over 35,000 deaths as of press “We have Knight’s seen Companies projects completed haveNational documentation and a Jem Restaurant Grouphave of Florida Bank ly-based manufacturer has 21 employees time, according to the Italian Department period, seen loan had toValley $2 million-$5 during million the pandemic in South Carolina. of Civil Protection. new opportunities shrink, and have seen lender to be approved ITS Sprinturf Holdings Regions Bankbefore time ran “We only had a very small layoff before Across the state, thousands of compa- other jobs placed on hold or canceled,” out June 30. The program has since been Energy One America LLC Aquesta Bank we received the money, then we didn’t lay nies in a variety of sectors received loans, Chisholm said in an comment to the extended to Aug. 8.

CSS International Inc.we would Truistinstitutions Bank Many financial set aside off anybody or terminate anybody,” Bot- including law firms, nonprofit organiza- Business Journal.

“Ordinarily other Farmers priorities toMerchants focus onBank paycheck protari said. “We were able to preserve all tions, hospitality companies, construc- have had layoffs inWest these situations. ” Key Boats Inc. and of S.C. Source: Small Business Administration data, analysis by SC Biz News employees. We didn’t reduce salaries. We tion companies, financial consultants, Fred Green, president and CEO of the tection loans even as they were adjusting PPP, from Page 1

Searchable online database

2,621

Companies retaining more than 300 Jobs

25,926

87 1 2 3 7 +

Loans awarded by amount

179 75

2,332

24 11

Approved for the Most Money

across South Carolina.

loans.

provided for number of jobs retained from emergency payroll loans.

South Carolina Mississippi

63,168 45,814 Source: Small Business Administration data, analysis by SC Biz News

July 27 - August 9, 2020

One of the signature parts of the CARES Act was that some loans would not have to be repaid by businesses, but the regulations on how that would be accomplished remain unclear, Green said.

He said the coronavirus pandemic isn’t over, and businesses are concerned about whether they’ll be required to repay the loans.

“The program was intended to convert a loan to a grant — in other words forgive See LOANS, Page 10

2,621

Number of companies approved for assistance

Companies retaining more than 300 Jobs Company

25,926

Number of jobs retained

Loans awarded by amount

179

$150,000-$350,000

75

$350,000-$1 million

2,332

24

Less than $150,000

$1 million-$2 million

11

$2 million-$5 million

July 13 - 26, 2020

CHARLESTON COUNTY CHARLESTON COUNTY 9,623 100,918 9,623 100,918 Source: Small Business Administration data, analysis by SC Biz News

Number of companies approved for assistance Number of companies approved for assistance

500

Jett Florida Bells LLC

Daniel Island

500

VDV Management Company LLC

Charleston

466

Century Restaurants Inc.

Charleston

439

Scout Boats Inc.

Summerville

387

MVP Group International Inc.

Charleston

349

J. E. M. Restaurant Group Inc.

Charleston

322

Approved for the Most Money The following companies approved for $2 million to $5 million loans, the most for companies and organizations in Berkeley County.

Company VDY Management Co. LLC

Less than $150,000

Source: Small Business Administration data, analysis by SC Biz News

$5 million-$10 million

Live Oak Banking Co.

Scout Boats Inc.

South State Bank

MVP Group International Inc.

Truist Bank

Knight’s Companies Inc.

Synovus

Jem Restaurant Group of Florida

Valley National Bank

ITS Sprinturf Holdings

Regions Bank

Energy One America LLC

Aquesta Bank

CSS International Inc. Key West Boats Inc.

www.charlestonbusiness.com 3 Truist Bank

Farmers and Merchants Bank of S.C. www.charlestonbusiness.com 3

More than 400 Jobs Retained Company

City

Jobs

Charleston City

500 Jobs

Charleston North Charleston

500

More than 400 Jobs Retained J K S&K Inc. North Charleston

Number of jobs retained

Less than $150,000

Synovus Bank

Sportsman Boats Manufacturing Inc.

IFA Rotorian NorthCare America LLC LLC Palmetto Primary Physicians

8,304 8,304

Lender United Community Bank

Arborgen Inc.

Palmetto CompanyPrimary Care Physicians LLC

788 $150,000-$350,000 788 $150,000-$350,000 397 $350,000-$1 million 397 $350,000-$1 million 96 $1 million-$2 million 96 $1 million-$2 million 32 $2 million-$5 million 32 6$2 million-$5 million $5 million-$10 million 6

Jobs

Daniel Island

Number of jobs retained

Loans awarded by amount Loans awarded by amount

City

Jem Restaurant Group of Florida

July 13 - 26, 2020

Rohoho J K S&K Inc.

500

Ladson Charleston

488 500

Palmetto Moon LLC Rohoho Inc.

North Charleston Charleston

486 500

Palmetto Solar LLC America LLC IFA Rotorian North

NorthLadson Charleston

483 488

Kiawah LP PalmettoResort Moon Associates LLC

Kiawah Island North Charleston

478 486

Chipton-Ross Palmetto SolarStaffing LLC Inc.

North Charleston

476 483

Carolina EasternAssociates Inc. Kiawah Resort LP

Charleston Kiawah Island

466 478

Garibaldi’s Management Chipton-Ross Staffing Inc.Corp.

Charleston North Charleston

416 476

BGI LLC Eastern Inc. Carolina

Mount Pleasant Charleston

411 466

Charleston

416

Mount Pleasant

411

Garibaldi’s Management Corp.

BGI LLC

Approved for the Most Money

The following companies approved for $2 million to $5 million loans.

Approved for the Most Money Company

Lender

The following companies approved to Community $5 millionBank loans.

Palmetto Primary Care Physicians LLC for $2 million United Chipton-Ross Company Staffing Inc.

BankLender of America

BGI LLC Primary Care Physicians LLC Palmetto

South State Bank United Community Bank

Johnson & Johnson Inc.Inc. Chipton-Ross Staffing

BankSynovus of America

Motley BGI LLCRice LLC

Bank of South South State Carolina Bank

Boomtown ROI LLC Inc. Johnson & Johnson

Beacon Community Synovus Bank

Motley Rice LLC

Bank of South Carolina

Boomtown ROI LLC

Beacon Community Bank

Source: Small Business Administration data, analysis by SC Biz News

DORCHESTER COUNTY DORCHESTER COUNTY 600 4,372 600 4,372 Number of companies approved for assistance

Number of jobs retained

Number of companies approved for assistance

Number of jobs retained

Loans awarded by amount Loans awarded by amount

93 93 1 + 5 1 5 +

Paying back the money

BERKELEY COUNTY

81 87 81 1 2 3 7 + 1 2 3 5 8 + 1 2 3 5 8 +

to working remotely and ensuring the health and safety of their own employees.

Banks that participated in the SBA program received federal repayment guarantees. If a business can’t repay the loan, the federal government will cover 100% of the amount. Typically, SBAbacked loans have a 50% to 85% guarantee to make them less risky for banks.

Under the Cares Act program, the banks charge 1% interest. Not a large amount, but bankers said that wasn’t what mattered during the chaotic run-up to helping clients stay in business, before the deadline was extended.

“There have been economic hardship periods before, but there were so many circumstances in this that made it unlike anything we’ve seen up to this point,” said Cutter Davis, an executive vice president and director of commercial banking for South State Bank. “It’s been unprecedented. Companies were trying to survive and adapt and figure out how they were going to move through this.”

Davis said bank employees were already working remotely, so everything was operating differently. He said at one point, the bank had every functional and technological resource directed toward the closing of these loans.

“This became sort of mission No. 1 when it happened,” Davis said. “We ended up installing a new technology platform and network tool to support this process.

We are proud of the role that we played.”

Green said that many banks in South Carolina took all of their workers and operated in shifts to focus on just paycheck protection loans.

“All the banks that participated shifted resources, and many, if not all, were working 24/7 because there were tight windows on when you had to get it in,” Green said.

Davis said South State and other banks were reacting to what was happening in real time when the crush of loan applications came down. He said the motivation was to help however they could.

“That translated into some positive impact, but I think we all felt a real sense of mission in this,” he said. “It really had nothing to do with competition or anything else; it really had to do with how to get these funds out, because it means jobs.”

www.charlestonbusiness.com 9

556 556

Less than $150,000 Less than $150,000

37 $150,000-$350,000 37 $150,000-$350,000 5 $350,000-$1 million 5 $350,000-$1 million

2 $1 million-$2 million 2 $1 million-$2 million

Source: Small Business Administration data, analysis by SC Biz News Source: Small Business Administration data, analysis by SC Biz News

More than 50 Jobs Retained Company

City

Jobs

Summerville City

90 Jobs

More than LLC 300 Jobs Retained Mills Investments Summerville Ye Ole Fashioned Ice Cream Company

115

Briteline ExtrusionsLLC Inc. Mills Investments

Summerville

83 115

M&M LLCIce Cream Ye OleStaffing Fashioned

Summerville

82 90

Dorchester AcademyInc. Inc. Briteline Extrusions

Saint George Summerville

77 83

Summerville M&M StaffingAuto LLC LLC

Summerville

76 82

Holy Ship LLC Dorchester Academy Inc.

Summerville Saint George

69 77

Lowcountry SummervilleWomen’s Auto LLC Specialists

Summerville

61 76

Holy Ship LLC

Summerville

69

Lowcountry Women’s Specialists

Summerville

61

Approved for the Most Money The following companies approved for $1 million to $2 million in loans, Approved for the Most Money in Dorchester County. the highest amounts approved for businesses The following companies approved for $1 million to $2 million in loans, Company Lender the highest amounts approved for businesses in Dorchester County.

Briteline Extrusions Inc. South State Bank Summerville Company Auto LLC

Toyota Financial Savings Bank Lender

Briteline Extrusions Inc.

South State Bank

Summerville Auto LLC

Toyota Financial Savings Bank

10

www.charlestonbusiness.com

July 27 - August 9, 2020

College of Charleston closes School of Professional Studies

By Jim Tatum

T

jtatum@scbiznews.com

he College of Charleston has closed its School of Professional Studies.

The College of Charleston’s board of trustees voted to dissolve the school at the recommendation of CofC President Andrew T. Hsu, according to a statement Hsu released to the college community.

The purpose of the school was to establish and deliver new programs and to position it as an option for adult learners and nontraditional students through-

out the Lowcountry, Hsu said in the statement.

“Unfortunately, despite the best efforts of many, the SPS has not generated the sustained revenue and enrollment growth we desired, and the college can no longer justify continued investment in the stand-alone structure of the school,” Hsu said.

As part of the decision, the college will no longer lease the North Campus building in North Charleston. The college’s membership in the Lowcountry Graduate Center, which was administratively housed at the North Campus, will continue, Hsu said.

The graduate center is in discussions regarding a new location, according to director Nancy Muller.

Hsu said he made the “very difficult decision” to recommend that the school be discontinued as a separate school and that its existing programs — Bachelor of Professional Studies, Bachelor of General Studies, Continuing Education and English Language Institute — be incorporated into other areas on the college’s main campus.

The students in these programs will be supported by the various schools overseeing the courses, he stated.

Hsu said the college will assist the

school’s 12 employees in finding potential job opportunities elsewhere on campus.

Acknowledging that any closure of a program leaves a feeling of loss, Hsu said, “As the college begins to implement its new strategic plan, we must recognize that achieving our shared vision of becoming a national university will require us to continually look inward, ask tough questions and make strategic choices that, in the short term, may sting, but in the long term may be necessary for us to remain viable and relevant in a highly competitive and rapidly changing world.”

CRBJ

Reach Jim Tatum at 864-720-2269.

LOANS, from Page 9

the loan — if you kept your employees on the payroll,” Green said. “The process of which you get that loan forgiven has not been defined by SBA, so at this point in time, even though there quite a few who would like to apply forgiveness, there’s no mechanism to do it.”

Congress is considering a measure to make it easier for loans to be forgiven, but a lot depends on how the law is written and what is passed. Green said legislation that would simplify the process to as little as a declaration on a one-page document for loans under $150,000 would help small, struggling businesses tremendously.

“It’s extremely important that congress support it, and there’s support for it. That will allow the small-business customer to focus on running their business,” Green said. “We are strongly supporting it as well as many, many other trade organizations and chambers of commerce.”

Green said early in the PPP application process, a huge demand caused delays because the loans were being approved by the SBA, not by banks. He said without a bill to streamline the forgiveness process, there could be a similar delay in repayment processing.

M.B. Kahn said the application process was relatively easy to navigate, and because the federal guidelines have increased the window from eight weeks to 24 weeks during which the money can be used, the company has not addressed the forgiveness of the loan. The company received a loan between $5 million and $10 million, and said it plans to also use the money if the economy worsens.

“Immediately after receiving the PPP funds, we issued a policy stating that no one would be laid off,” Chisholm said.

“We applied for this loan to not only retain our employees now, but to ensure that we have the ability to continue paying employees during an extended recession.”

Hundreds of thousands of jobs were saved in South Carolina by companies receiving Paycheck Protection Program loans through the Small Business Administration.

(Photo/File)

Bottari, of Mariplast, indicated that her company is anxious to find out the regulations on repayment.

“There are forms you need to fill out, and there’s also regulations behind that, as well, for the forgiveness of the loan,” she said. “We’re waiting for the bank to open up the application for forgiveness.”

The company received a loan of between $150,000 and $350,000, and she said business has picked up since the pandemic began but a lot of her customers still aren’t placing orders.

“It has improved a little bit, but we still are very down compared to last year,” Bottari said.

CRBJ

“The program was intended to convert a loan to a grant — in other words forgive the loan — if you kept your employees on the payroll,” Green said. “The process of which you get that loan forgiven has not been defined by SBA, so at this point in time, even though there quite a few who would like to apply forgiveness, there’s no mechanism to do it.”

Fred Green Director of the S.C. Bankers Association

In Focus

FINANCIAL SERVICES LISTS: Credit Unions, Page 14 | Bonus List: Accounting Firms, Page 15

Expiration of unemployment benefit may hit mortgages Banking economy

The Federal Deposit Insurance Corp. tracks all the data regarding banking and financial institutions across the nation and in S.C., including this snapshot of what happened in Q1 2020.

By Jessica Menton USA Today

S

imona Roganovic worries about how she’ll resume paying her mortgage once the extra $600 that Americans get in weekly unemployment benefits expires — scheduled for July 26 as of press time. The enhanced money has given her family a lifeline.

Roganovic and her husband, who live in Chicago, own a small limousine business that provides transportation for corporate executives. The company they contract with laid off everyone in March and took their SUVs and black cars off its fleet since no one was traveling during the coronavirus pandemic, she said.

The couple don’t expect to return to work until early 2021, which has created anxiety. Roganovic fears slipping into foreclosure on their home.

“This argument that people don’t want to go back to work because they’re making more money on unemployment is ludicrous,” Roganovic, 39, says. “We don’t have work to go back to, and we won’t for a long time.”

The expiration of enhanced benefits comes at a critical time for mortgage

Where’s the money?

Market share for financial institutions represented by deposits in the following metro areas.

Photo/File

borrowers. Policymakers were returning to Washington at press time to debate whether the extra $600 in weekly unemployment payments will be extended beyond July to help shore up jobless people’s finances as the economy contends with the fallout from the pandemic.

Democrats proposed an extension, but some Republicans argue the extra

money has encouraged many Americans to remain jobless.

Roughly half of millennial and Gen X borrowers say they or someone in their household receive unemployment benefits, and many are concerned about paying their mortgage once the extra weekly See MORTGAGE, Page 13

W

Contributing writer

hat are the odds of a catastrophic hurricane hitting the coast? How about the chances of your home going up in flames? Are 16-year-old-male drivers more of a risk than female drivers of the same age?

What is the probability that a 55-yearold overweight man with high blood pressure will drop dead from a heart attack in the next year?

When it comes to predictions, insurance companies are the ultimate oddsmakers. The entire insurance industry is based on risk assessment, moving the lines, and hedging bets.

So when predicting what’s in the cards when it comes to the COVID-19 pandemic, maybe the closest thing to a sure bet is to look at what insurance companies are doing now and how they’re play-

Columbia

$19.7 billion

Greenville-Anderson

$17.5 billion

Charleston

$14.7 billion

Myrtle Beach

$9.9 billion

Market share for financial institutions represented by number of banks in each area of the state.

Region

Banks

Greenville-Anderson

35

Charleston

33

Columbia

24

Myrtle Beach

24

Loan Concentrations

Insurance companies adapt to uncertain future ing the hand they’ve been dealt.

Beyond what actuaries are recommending in terms of rate changes and premium adjustments — those will likely play out over the next year or two — local agencies are adapting to the crisis, making changes in their daily practices as well as changes in their priorities as they move forward.

“I don’t think anybody has any kind of confidence of an end date of any kind for this,” said David Rosenberg, an independent licensed agent with the David M. Gilston Insurance Agency.

Rosenberg has been an agent for more than 20 years and said he’s never seen anything like this in his professional career. He said the last time he can remember the industry experiencing an upheaval this dramatic was when the Affordable Care Act came online and agencies had to quickly adjust to a completely new world.

Deposits

Where are the banks?

Dealing with a wildcard:

By Lorne Chambers

Region

The biggest concern that Rosenberg is seeing from customers today is that people who were initially furloughed once the pandemic hit are now being permanently let go from their jobs, thus finding themselves without health insurance at the same time their federal supplemental unemployment benefits are running out.

“We have a pandemic. It’s putting people in the hospital. People are losing their jobs. People don’t want to also lose their health insurance. That’s the huge thing right now, how to help these people,” Rosenberg said. “The biggest challenge now is finding them something that fits for them. That’s always the challenge, it’s just a little more urgent on the customer side right now. People are understandably on edge about this.”

Health insurance is not the only urgent request Rosenberg is hearing See INSURANCE, Page 13

The FDIC tracks the loans on the balance sheets of banks as a percentage of the institution’s capital and reserve for losses to indicate which sector is getting access to capital.

Sector

Concentration

Residential real estate Non-residential real estate Construction/ Development

157% 144% 44%

Industrial real estate

35%

Other commercial real estate

18%

Consumer

18%

Multifamily

7%

Agriculture

3%

Source: Federal Deposit Insurance Corp.

NEXT ISSUE’S FOCUS:

Architecture, Engineering & Construction

12

www.charlestonbusiness.com

IN FOCUS: FINANCIAL SERVICES

July 27 - August 9, 2020

Uncertainty makes capital a mixed bag for entrepreneurs

By Barry Waldman

L

Contributing Writer

enders today have money to lend but less appetite to lend it — notwithstanding the trillion-dollar aid program underwritten by the federal government.

Reid Boehm, commercial banking manager for Synovus Bank’s Charleston region, says that banks today are being much more circumspect with their investments in businesses, having been burned by their cavalier attitude toward lending before the Great Recession of 2008.

Anything related to the tourism industry, a staple of the Lowcountry economy, will be viewed warily by lenders. They are not the only ones. Despite increased deposits and more capital on hand, many banks are tightening their underwriting requirements for all business loans.

“We typically underwrite the ability to repay based on historic financials, but today that has no bearing on what the future holds,” Boehm said. “We know that 2019 is not indicative of what 2020 or 2021 would look like. That places more burden on us as lenders to understand what the impact of COVID will be.”

Bankers say existing relationships are having an outsized impact on borrowing

opportunities. The prospects for borrowing are greater for businesses already working with a bank, because the lender understands the business and has its financial information already on file.

Since March, banks have helped customers borrow $669 billion from the Payroll Protection Program, an infusion of cash backed by the federal government.

The government also made longer-term Economic Injury Disaster Loans available through banks at 3.75%, sending a flurry of capital to small businesses.

The Federal Reserve has established a $5 billion Main Street Lending program, which it modified in mid-July to increase access to credit for nonprofits, including educational institutions, hospitals and social services organizations.

Brad Ebenhoeh of Accountfully, which provides accounting services to companies, said the loans are not designed for business growth. For that, businesses must find willing private lenders.

Private equity provides that outlet, but John Osborne, co-founder of the Harbor Entrepreneur Center and an investor in two venture capital funds, said entrepreneurs seeking startup capital are fourth in line for private equity, behind shoring up existing partners, finding opportunities with co-investors and financing compa-

nies advantaged by the new business paradigm.

Enterprises immune to macroeconomic factors or poised to benefit from an increasingly online world may find the easiest road to capital infusions.

Osborne said Good Growth Capital, a venture capital platform focused on early stage technology companies, had invested in a medical device company whose remote respiratory monitoring device could diagnose the novel coronavirus.

When it needed to expand to fill a tenfold boost in orders, the fund was happy to inject capital.

“That’s a great investment to be making,” said Osborne, who is managing partner of Good Growth Capital.

Lenders say they are looking at professional services and the construction industry as good investments during the COVID-19 pandemic because their business has rebounded.

Dentist J. Eric Layton, CEO of Trident General Dentistry, recently received a $400,000 loan from Pinnacle Financial Partners to purchase a practice in West Ashley.

The company’s existing relationship with Pinnacle streamlined the process even as some banks put practice lending on hiatus. Pinnacle already had Layton’s

business plan on file and understood the viability of the new office.

The key issue for lenders is uncertainty. No one knows what is to come or how long profits will be squeezed and unemployment will remain high. Few, if any, business leaders expect the marketplace to return to the status quo, but predicting what the “new normal” will be is perilous.

The recent spike in COVID-19 cases has businesses worried. No one knows when Americans will feel completely comfortable leaving their homes and congregating indoors.

Osborne says uncertainty is the enemy of investors.

“What happens if this is longer? Will the investment market dry up at that point? We are highly encouraging companies to have 12 to 18 months’ cash on hand,” he said.

For relatively small angel-backed firms, that is a lot of money to sit on the sidelines, particularly during the growth cycle. Osborne said the enterprises his funds back may need to sacrifice more of their equity to attract additional investors earlier than they expected.

“If you have to give up a little more equity today to do it, so be it,” he said. “If it gets any worse, you’ll be glad to give up a few extra points for cash in the bank.”

CRBJ

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MORTGAGE, from Page 11

benefits end, according to a report from LendingTree. About 17% of baby boomer borrowers fall into this group.

The data was provided exclusively to USA Today.

Across all age groups, 40% say they or someone in their household receive unemployment benefits. About 45% of them are at least somewhat concerned about paying their mortgage once the extra $600 in weekly benefits ends. Of that total, 37% are somewhat comfortable paying their mortgage, and 9% have no idea how they will do so.

About 53% of borrowers are experiencing household income loss, LendingTree data shows. When broken down by age groups, 61% of millennials have lost household income, followed by 57% of Gen X and about 37% of baby boomers.

Since March, nearly one in five borrowers have missed a mortgage payment.

LendingTree chief economist Tendayi Kapfidze said, “People are losing income, and unemployment isn’t completely covering lost income for many folks.”

Forbearance, other options

Americans struggling to pay their mortgages can put off that bill for up to a

INSURANCE, from Page 11

these days. “There’s been an uptick in people requesting life insurance, for obvious reasons. Which isn’t uncommon when you have something this big on a national scale that makes people sit up straight,” said Rosenberg, who said he has written more life insurance policies in the past 30 days than he did the entire previous quarter.

A&A Insurance founding partner Marty Adams, who has been in the insurance industry for more than 40 years, said he feels the pandemic could be one of those watershed moments that leaves a lasting impact and shifts the industry completely, the way that hurricanes Hugo and Andrew did. Those were among the few times the insurance industry overplayed its hand and ended up losing.

“Back when Hugo came through, most deductibles were $100, $250 at the most.

Today they’re much higher, and all policies have wind deductibles for coastal exposures,” Adams said. “It really taught the insurance industry a lesson.”

About a decade back, the long-term care market took a beating, because the actuaries simply got it wrong. “People are just living longer than were predicted. It forced a lot of companies to get out of the long-term care business,” Rosenberg said.

For those firms that specialize in and have remained in the long-term game, like James Island-based Franklin & Associates, COVID-19 concerns have generated a lot of interest in recent months.

“With the issues that have surfaced

IN FOCUS: FINANCIAL SERVICES

year because of provisions in the Coronavirus Aid, Relief and Economic Security Act. Although the measures are meant to create a feeling of relief, many borrowers are anxious because of confusing messages from the government and banks.

Forbearance allows borrowers to pause or reduce their mortgage payments, but they still have to repay those missed payments. Under the coronavirus relief act, homeowners who are struggling can request forbearance for up to 180 days, which may be extended by up to six more months if borrowers need.

This applies only to federally backed mortgages. For those, such as Roganovic, who have private loans, forbearance and deferment are left up to loan servicers.

That leaves anxiety for many borrowers, who are unsure whether they will have to make a lump-sum payment, apply for a loan modification or add suspended payments to the back end of their loan.

About 30% of mortgage borrowers have entered into a forbearance agreement, according to LendingTree; 12% are negotiating the terms of their assistance; and 2% were denied help.

Of those who received forbearance, the majority (53%) say their lender requires a lump-sum payment at the end. Most (81%) are prepared to make that lump-

with long-term care facilities as a result of COVID-19, clients are interested in reviewing their long-term care policies to be sure that home care is included,” said Franklin & Associates owner Barbara Franklin.

She and her husband, Paul Franklin, founded the S.C. Aging in Place Coalition, and she currently serves as its chairman.

According to Kirk Matenaer, one of Franklin’s employees, one of the most heartbreaking aspects of the coronavirus pandemic has been the high percentage of COVID-19 deaths in the United States coming from nursing homes or assisted-living facilities.

“This has only furthered people’s desire to remain at home in their final years, which is only possible if you can afford to do so. Home care averages over $20 an hour in the Charleston area,” he said. “It’s either that or you have long-term care insurance.”

However, because of COVID-19, Matenaer said many long-term care insurance companies have started to place age caps on traditional and hybrid policies.

“While we are still able to insure some baby boomers, who were born between 1946 and 1964, there are others who have aged out of a number of long-term care insurance products,” Matenaer said.

For Franklin, her concerns moving forward are twofold. “One, how will government programs impact long-term care financing and Medicare plans in the future? Two, how to strike a balance between working from home and spending time in an office. What precautions

sum payment, but 16% aren’t sure they’ll have enough money and 4% have no idea how they’ll come up with the funds.

Anthony Adams received forbearance after the pandemic crimped sales at his family’s bakery in Orlando, Fla. Adams says he’s worried about what will happen once forbearance concludes, because Wells Fargo hasn’t given him answers. He wasn’t eligible for unemployment, he says. He was diagnosed in the spring with a terminal medical condition and is seeking permanent disability.

“It’s frustrating,” he said. “It helps right now, but it doesn’t solve the ultimate issue.

We’re really at the mercy of the banks.”

A Wells Fargo representative told USA Today that a lump-sum repayment won’t be required.

Contact your servicer

Those experiencing financial hardship because of the pandemic should call the servicer and ask about their options.

“Reach out to your lender right away if your situation is no better than it was a few months ago. There are options available,” said Greg McBride, chief financial analyst at Bankrate.com.

The Federal Housing Finance Agency, which dictates guidelines for Fannie Maeand Freddie Mac-backed loans, said bor-

Franklin & Associates owner Barbara Franklin looks in on her mother through a window for safety.

(Photo/Provided)

are needed? How to keep people safe.

And how does a physical office space fit into the big picture of a practice?”

The idea of “the office” has become a much more fluid concept in the past several months, and insurance agencies are learning to adapt to these changes just like other industries.

“Although some servicing issues with clients are still best to handle by phone, the name of the game is virtual — Zoom calls, GoToMeeting events, e-applications,” Franklin said.

Matenaer added that clients who may have previously been reluctant have been

www.charlestonbusiness.com 13

rowers with federally backed mortgages won’t have to make a balloon payment.

As more states pause or roll back reopening plans as virus cases spike, further business closures could threaten the trajectory of improvements in the labor market and the economic rebound.

Slightly more than two-thirds of mortgage borrowers facing income loss would consider defaulting on a debt payment to make ends meet, LendingTree data shows. Mortgage (24%) and credit cards (23%) are the top two bills respondents say they’d be most likely to default on, followed by student loans (15%) and auto loans (5%).

Mortgage delinquencies jumped in May to the highest level since November 2011, according to a report from Black Knight, a mortgage technology and data provider. The number of borrowers more than 30 days late climbed to 4.3 million in May, up 723,000 from the prior month.

More than 8% of all U.S. mortgages were either past due or in foreclosure, the report shows.

“If we end up losing forbearance options before the economy recovers, we will likely see a spike in mortgage delinquencies,” Kapfidze says. “The health crisis could then turn into a financial crisis, which would deteriorate the economic recovery.”

forced to adapt to technology.

“The transformation we’ve seen in these clients has been remarkable,” Matenaer said. “Once they get past the initial displeasure and more comfortable with the technology, they tend to love it.

I think we are all realizing that we can achieve the same results, have the same — if not greater — intimacy in interaction all while enjoying the comfort of our own home and the convenience of not having to deal with traffic, bad weather, etc.”

Local claims adjuster Chad Padgett became a first-time father over quarantine. He’s an independent contractor who has worked from home since long before the coronavirus pandemic, he now might hold his newborn daughter if she begins to cry while he is on a work call.

“Four months ago, that would be pretty strange and maybe not very professional. But these days it’s not uncommon to hear babies crying, children screaming, or dogs barking in the background,” Padgett said.

Such incidents can be temporarily disruptive, but they also give an intimate touch to a call or virtual meeting.

“It’s actually made the insurance companies accelerate their ability to conduct business electronically,” Rosenberg said.

“Insurance companies have long needed ‘wet’ signatures and they like to meet face to face with people. I do, too, but I can honestly do everything over the phone, online, set up a Zoom call, and electronic signatures are available for virtually all policies now.”

CRBJ

14

IN FOCUS: FINANCIAL SERVICES

www.charlestonbusiness.com

July 27 - August 9, 2020

Credit Unions

With Branches in the Lowcountry, Ranked by Total No. of Members Company

Phone / Website / Email

Top Local Official(s) / Year Chartered

Navy Federal Credit Union 7255 Rivers Ave. North Charleston, SC 29406

888-842-6328 www.navyfederal.org

Boeing Employees Credit Union 5400 International Blvd.

Charleston, SC 29418

Total Members

Total Assets

Total Loans

Mary McDuffie 1947

9,195,079

$125,580,858,822

$83,058,522,640

800-233-2328 www.becu.org memberservices@becu.org

Benson Porter 1935

1,252,941

$22,708,789,873

$14,414,606,871

Grow Financial Federal Credit Union 9514 Dorchester Road, Suite 102 Summerville, SC 29485

813-837-2451 www.growfinancial.org glrecon@growfinancial.org

Thomas Feindt 1955

207,959

$2,760,359,878

$2,201,042,422

South Carolina Federal Credit Union 2175 Credit Union Lane North Charleston, SC 29406

843-797-8300 www.scfederal.org ngeiger@scfederal.org

R. Scott Woods 1936

167,640

$1,949,824,216

$1,491,153,816

State Department Federal Credit Union 2009 Dyess Ave., Building F Charleston, SC 29405

843-806-4571 www.sdfcu.org sdfcu@sdfcu.org

Jan N. Roche 1935

88,364

$2,215,557,179

$1,206,858,849

S.C. State Credit Union 6750 Rivers Ave. North Charleston, SC 29406

843-747-2210 www.scscu.com info@scscu.com

James Kinard 1952

78,169

$935,276,355

$526,991,566

CPM Federal Credit Union 1066 E. Montague Ave. North Charleston, SC 29405

800-255-1513 www.cpmfed.com admin@cpmfed.com

James Gergen 1975

59,440

$408,270,660

$236,928,191

Rev Federal Credit Union 200 Marymeade Drive Summerville, SC 29483

843.832.2600 www.revfcu.com info@revfcu.com

Tara Smith, Jim McDaniel, Jason Lee 1955

50,522

$654,832,208

$485,806,623

Bayer Heritage Credit Union 309 N. Goose Creek Blvd.

Goose Creek, SC 29445

843-820-6070 www.bayerhfcu.com memberservices2@bayerhfcu.com

Robert Burrow 1957

35,369

$527,742,384

$431,077,263

Carolinas Telco Federal Credit Union 4940 Centre Pointe Drive, Suite A North Charleston, SC 29418

843-723-5511 www.ctelco.org memberservices@ctelco.org

Chris Dickman 1979

32,590

$507,359,705

$266,848,295

Nucor Employee's Credit Union 1455 Hagan Ave. Huger, SC 29450

843-336-6590 www.nucorcu.org info@nucorcu.org

Paul D. Chappell 1962

7,298

$45,360,591

$24,977,269

Santee Cooper Credit Union 612 Rembert C. Dennis Blvd.

Moncks Corner, SC 29461

843-761-4001 www.santeecoopercreditunion.com sccu@homesc.com

Melynda Champion 1953

7,190

$60,994,915

$42,060,180

Latitude 32 Credit Union 1845 Sam Rittenberg Blvd.

Charleston, SC 29407

843-556-4809 www.latitude32.org etelli@latitude32.org

Marcus R. Rhymer 1952

7,145

$55,200,562

$40,248,379

Berkeley Community Federal Credit Union 600 Main St. Extension Moncks Corner, SC 29461

843-761-8298 www.berkcofcu.com staff@berkcofcu.com

Max D. Jones 1960

2,360

$13,345,788

$4,108,479

Charleston County Teachers Federal Credit Union 4 Carriage Lane, Suite 401 Charleston, SC 29407

843-556-8698 ccteachersfcu@aol.com

Alshaun J. Rouse 1956

820

$1,674,959

$863,983

C O Federal Credit Union 117 Spring St. Charleston, SC 29403

843-722-7656 www.cofederalcreditunion.com cofedcreditcu@cofederal.com

Perrin Middleton 1966

701

$5,934,150

$3,184,561

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 lists@scbiznews.com.

Source: National Credit Union Administration, March 31, 2020 call report.

Researched by Paige Hardy

IN FOCUS: FINANCIAL SERVICES

July 27 - August 9, 2020

www.charlestonbusiness.com 15

Accounting Firms

Ranked by No. of CPAs in the Lowcountry Managing Partner(s) / Year Founded

Total CPAs / Accountants / Employees

843-722-6443 www.dhg.com info@dhgllp.com

Kip Hooker, Tricia Wilson 1959

45 65 82

Traditional audit and tax services, litigation support, forensic accounting, business valuation, transaction advisory services, corporate governance, health care consulting, sales tax compliance, cost segregation and R&D tax credit studies

Elliott Davis 100 Calhoun St., Suite 300 Charleston, SC 29401

843-577-7040 www.elliottdavis.com info@elliottdavis.com

Tim Grow, Cindy Brams 1920

38 64 70

Assurance and advisory, tax planning and preparation, business strategy and valuation, international tax, litigation support and forensic accounting, bookkeeping and payroll

Baldwin & Associates LLC 210 Wingo Way, Suite 202 Mount Pleasant, SC 29464

843-722-0785 www.baldwincpa.com

Stephen Moose, Alys Anne Dennis, Robert Baldwin 2003

16 24 29

Tax management, bookkeeping, tax prep, payroll services, estate planning

Moore Beauston & Woodham LLP 3520 W. Montague Ave., Suite 201 North Charleston, SC 29418

843-766-5010 www.fullservicecpa.com info@fullservicecpa.com

John B. Beauston 1992

11 19 25

Business sales and acquisition consultation; business valuation; tax planning and preparation; litigation support, attestation and bankruptcy services

WebsterRogers LLP 40 Calhoun St., Suite 320 Charleston, SC 29401

843-577-5843 www.websterrogers.com tsinclair@websterrogers.com

Tom E. Fitzsimmons, Amy F. Urquhart 1984

10 11 26

Tax preparation and planning, assurance and audit, CFO and business advisory services, outsourced accounting, employee benefit plan administration, estates and trusts, forensic and litigation support, business valuations, health care consulting

Jones, Pounder & Associates P.C. 7 Gamecock Ave., Suite 704 Charleston, SC 29407

843-571-3114 www.jonespounder.com

Joseph Beck, Douglas Pounder, Harry Jones, Douglas Szubski 1975

9 12 14

Audit of government contractors, employee benefit plans, not-for-profit entities, housing and urban development multifamily housing entities; peer review, business services, corporate and individual tax returns; consulting

Welch, Roberts, Amburn & Hutto LLC 157 East Bay St. Charleston, SC 29401

843-577-0148 www.wrahcpa.com info@wrahcpa.com

Andrew Preston, Franklin Amburn, Jeff Hutto 1976

9 12 14

Business advisory services, tax and estate planning, tax preparation and consultant services, client accounting services, financial statement preparation and assurance services

McCay Kiddy LLC 1156 Bowman Road, Suite 100-A Mount Pleasant, SC 29464

843-881-4477 www.mccaykiddy.com info@mccaykiddy.com

Justin K. Kiddy, Melissa A. Kiddy, Russell Deal 1986

8 30 36

Proactive tax, audit and assurance, bookkeeping, outsourced CFO and consulting services for individuals and businesses in the Lowcountry; three locations in Mount Pleasant, West Ashley and North Charleston

Moody & O'Neal CPAs LLC 654 Coleman Blvd., Suite 200 Mount Pleasant, SC 29464

843-849-3000 www.moodycpas.com

Chris O'Neal, Lora Prevatte 2009

8 8 18

Traditional audit and tax services, bookkeeping, management advisory, trusts and estates, litigation support and business valuation, risk advisory, controller-to-go, cost segregation studies, R&D tax credit studies

Johnson Lambert LLP 100 Brigade St. Charleston, SC 29403

843-414-0330 www.johnsonlambert.com info@johnsonlambert.com

John Prescott 2003

7 7 8

Audit, tax and consulting services to the insurance industry and alternative risk entities, associations and other nonprofits and employee benefit plans

Legare Bailey & Hinske LLC 1100 Queensborough Blvd., Suite 100 Mount Pleasant, SC 29464

843-766-0400 www.lbhcpas.com info@lbhcpas.com

Ben Newton, Joseph A. Hinske 1998

7 7 9

Tax preparation and planning, business valuation, estate and trust planning and compliance; business consulting, accounting, auditing and litigation support

Jan Waring Woods CPA LLC 119 W. Luke St., Suite A Summerville, SC 29483

843-261-0096 www.jwwcpa.com jan.waringwoods@jwwcpa.com

Jan H. Waring Woods 2012

6 6 6

Full service accounting firm offering accounting, audit, tax compliance and consulting services to small and mid-size companies; company, trusts, estates and individual tax return preparation services

Jarrard, Nowell & Russell 975 Morrison Drive Charleston, SC 29403

843-723-2768 www.jnrcpas.com admin@jnrcpas.com

Christopher C. Nowell, William A. Russell, William H. Jarrard 2005

6 15 23

Traditional accounting and income tax services, business advisory services, auditing, captive insurance consultation and auditing, business modeling and valuations, wealth management

Accountfully 1567 Meeting St., Suite 100 Charleston, SC 29405

843-501-2774 www.accountfully.com hello@accountfully.com

Brad Ebenhoeh, Meredith Ebenhoeh 2012

5 23 26

Outsourced bookkeeping and accounting, tax preparation and planning, CFO advisory services, consulting

McGuire & Co. LLC 1100 Queensborough Blvd., Suite 201 Mount Pleasant, SC 29464

843-577-5533 www.mcguirecpa.com janet@mcguirecpa.com

Sharon C. Hartley 1982

5 5 6

Financial statement compilations, reviews, write-up, business advisory services, income tax planning, estate and retirement planning; individual, partnership trust, estate tax returns

Riser, Gibbons & Carpenter LLP 1417 Remount Road North Charleston, SC 29406

843-554-5600 www.rmgcpas.com admin@rmgcpas.com

Glenn D. Gibbons 1951

5 5 10

Accounting and auditing, tax preparation and planning; litigation support; estates and trusts; individual and business consulting services; bookkeeping and other small business services

Hood & Selander CPAs LLC 856 Lowcountry Blvd., Suite 100 Mount Pleasant, SC 29464

843-884-1099 www.hscpasc.com scott@hscpasc.com

Scott Hood 1974

4 8 8

Tax return preparation, tax planning, bookkeeping, financial statement preparation, small business consulting, Medicare and Medicaid cost report preparation

The Lanning Group LLC 235 Magrath Darby Blvd., Suite 140 Mount Pleasant, SC 29464

843-416-8784 www.thelanninggroup.com emily@tlgtax.com

Carrie S. Lanning 2019

4 6 8

Boutique tax practice located in Mount Pleasant that focuses on high wealth individuals, estate and trust planning, and small businesses; tax planning and strategies; client relationships

Davis & Co. CPAs P.O. Box 1552 Mount Pleasant, SC 29465

843-881-3315 www.davisandcocpas.com zoe@davisandcocpas.com

Zoe M. Davis 2010

3 6 6

Assurance, tax and consulting services to non-profit organizations, employee benefit plans and homeowner associations

Glaser and Co. LLC 149 East Bay St., Suite 200 Charleston, SC 29401

843-849-0179 www.glasercompany.com cpa@glasercompany.com

Erik M. Glaser 2006

3 5 5

Audit, review, compilation services; public company accounting oversight board member; tax preparation services and internal control consulting

Jackson CPA Firm LLC 721 Long Point Road, Suite 404 Mount Pleasant, SC 29464

843-856-0301 www.jacksoncpafirmsc.com frank@jacksoncpafirmsc.com

J. Franklin Jackson 1998

3 4 5

Accounting, auditing, tax return preparation and planning; bookkeeping, computer services and small business planning

Moss & Yantis CPA Firm 272 W. Coleman Blvd., Suite 100 Mount Pleasant, SC 29464

843-606-2349 www.mycpafirm.org info@mycpafirm.org

Deanna R. Moss, Christa Yantis 2010

3 7 9

Full-service accounting firm offering tax, audit and accounting services; niche markets include nonprofits and small businesses

Solomon, Hardwick & Hardwick LLC 1160 Folly Road Charleston, SC 29412

843-406-6680 www.solomonhardwick.com cpas@solomonhardwick.com

Katherine Hardwick, Lynda S. Hardwick, Zachary M. Solomon 1997

3 4 6

Payroll, cash flow management, succession planning, new business formation, internal controls, small business accounting, QuickBooks services, tax preparation and planning for individuals, small businesses, trusts and estates

Supporting Strategies South Carolina 748 Stucco Lane Mount Pleasant, SC 29464

843-452-3173 www.supportingstrategies.com/south-carolina bstrickland@supportingstrategies.com

Brad Strickland 2003

3 11 7

Bookkeeping, outsourced accounting and operational support

Taylor, Miles & Associates 1940 Trolley Road, Suite A Summerville, SC 29485

843-875-1774 www.taylormilescpa.com lmiles@taylormilescpa.com

Lori A. Myers Miles, Dawn Mayers 1987

3 3 8

Tax preparation and planning, accounting for businesses and individuals, QuickBooks, estates and trusts, business startup and entity selection

Ceterus 804 Meeting St., Suite 201 Charleston, SC 29403

800-571-6119 www.ceterus.com marketing@ceterus.com

Levi Morehouse 2008

2 2 47

Automated accounting and bookkeeping, financial and non-financial industry and brand benchmarking, automated financial insights, franchisor reporting, tax return prep and filing

Gold Star Business Services LLC 3239 Heathland Way Mount Pleasant, SC 29466

843-696-4735 www.goldstarbusinessservices.com elaine@goldstarbusinessservices.com

Elaine Domin 2009

2 2 2

QuickBooks setup and training, bookkeeping, payroll, cloud services, tax services

Greene Finney LLP 39 Farmfield Ave. Charleston, SC 29407

843-735-5805 www.greenefinney.com rebekah.whitacre@gfhllp.com

Emily Sobczak, Larry J. Finney 1996

2 6 6

Audit, advisory, review, compilation, and outsourced accounting and payroll with focus on local government, nonprofits and small and medium businesses

Richard B. Homes CPA LLC 102 Wappoo Creek Drive, Suite 11 Charleston, SC 29412

843-795-0819 www.rhomescpa.com info@rhomescpa.com

Richard B. Homes 2000

2 6 10

Tax preparation and tax planning for businesses, individuals, trusts and estates; accounting and bookkeeping, full payroll services, IRS problems and issue resolution, Quickbooks advisors, business consulting, small business mergers and acquisitions

The Roberts CPA Firm P.A. 537 Long Point Road, Suite 103 Mount Pleasant, SC 29464

843-388-8601 www.robertscpafirm.com ray@rrobertscpa.com

Ray L. Roberts 1997

2 4 4

Business and tax prep planning, tax planning for tax savings, business valuations, retirement planning and asset management, family tax and financial services

Smith, Kesler & Co. PA 1127 Queensborough Blvd., Suite 106 Mount Pleasant, SC 29464

843-388-1704 www.skandco.com peevans@skandco.com

Phillip E. Evans 1978

2 3 3

Audit, review and compilation services; corporate tax planning; corporate tax preparation with concentration in the construction industry

Company

Phone / Website / Email

Dixon Hughes Goodman LLP 525 East Bay St., Suite 100 Charleston, SC 29403

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 lists@scbiznews.com.

Services

Researched by Paige Hardy

16

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July 27 - August 9, 2020

Invest in your success.

The story of the Charleston business market is a story told in numbers.

Market Facts includes data and statistics critical to commerce in our region. Topics range from employment to education to logistics, with data presented in readable charts and graphs.

Take advantage of this opportunity to get your marketing message to our business community, and in front of the businesses and people planning a move to our area.

PUBLICATION DATE: August 24, 2020 | ADVERTISING DEADLINE: July 31, 2020 For advertising information, contact Grady Johnson at (843) 849-3103 or gjohnson@scbiznews.com

July 27 - August 9, 2020

www.charlestonbusiness.com 17

MEET THE CLASS OF 2020 The Forty Under 40 for 2020 will have stories to tell.

They’re the pandemic class. They’re the individuals expected to persevere, professionally, personally and socially, through something that changed everything in a moment.

We are honored to present this class to readers of the Charleston Regional Business Journal.

Looking at their profiles, their words, their inspirations and aspirations, we feel certain they’re the ones to get it done. This wasn’t what they expected. This wasn’t what you expected, and that’s not going to hold them back. Welcome to the Forty Under 40 for 2020.

#40CHS 12:00 p.m. to 2:00 p.m

Wednesday, August 26 Presented by:

Virtual Event

18

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CONGRATULATIONS TO THE FORTY UNDER 40 AWARD RECIPIENTS!

WHAT’S DIFFERENT ABOUT A COLLEGE OF CHARLESTON MBA? One-Year Program

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Executive Mentors

International Immersion

Professional Coaching

Extensive Alumni Network

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U.S. NEWS & WORLD REPORT RECOGNITION Top 100 Best Full-Time MBA program in the Nation (2018, 2021) No. 1 in the nation for job placement three months after graduation (2019, 2021) Most affordable full-time MBA program in the nation (2021) Highest percentage of female students in a full-time MBA program (2021) Top 10 public, one-year MBA program in the nation (2021)

Learn More About Charleston’s MBA Program. mba.cofc.edu

July 27 - August 9, 2020

www.charlestonbusiness.com 19

STACEY BAILEY

JEREMY BENNETT, PH.D. Age: 39

Age: 34 Position/title: COO, Reason One Education/degrees: B.A. in Management from College of Charleston What’s the best advice you’ve ever been given?

Everything is temporary. No matter if it is wonderful or painful, remember it is temporary.

How do you feel rewarded by your community service?

My purpose in life is to be a feisty force for good, to inspire others to take action in their local and global communities, which to me means that if I’m going to enjoy the luxuries of my life, I need to find ways to encourage, support and inspire others to get involved. Doing so is rewarding, and more than that, it seems like participation should be baseline in our lives.

Any advice for the next generation?

Get involved: Go to events, volunteer, show up, be part of the community. You and the community will reap the benefits and we’ll all be better for it.

Position/title: Director of Graduate Programs, College Transfer Programs and Online Programs, The Citadel Baker School of Business; founder of Factsnotopinions.com, a website that provides facts and data on large national and global issues.

Education/degrees: Ph.D., MBA, MS – Georgia State University; BA – University of Georgia What made you select your chosen profession?

I became extremely interested in education after finishing my master’s program. During my Ph.D., I subsidized my income by teaching online and found that I loved both the online and traditional classrooms.

What is your proudest accomplishment?

Creating articulation agreements with two-year colleges in seven states that allow working students to complete their bachelor’s degrees while staying in their communities and taking care of their families. Named The Citadel’s 2020 recipient of the Faculty Award for Outstanding Contributions to the Graduate College.

Any advice for the next generation?

Travel and get to know different cultures and ways of thinking. We are all more alike than we are different.

BAILEY BENZLE Age: 38 Position/title: Director of Pre-Sales and Sales Enablement, Omatic Education/degrees: B.S. in Biology, Elon University What made you select your chosen profession?

I started off in marine biology (I used to dive with sharks!), but I soon found that while I could maintain that as a hobby, a more fulfilling career was working on the business side of things with nonprofits. The most gratifying part of my job is to be able to really seek to understand what the challenges of an individual nonprofit organization are and help them figure out what the path to success can be.

Any advice for the next generation?

If you’re doing it for the right reasons, helping others and being a positive force in the world can be more gratifying than any material object. People need guidance to realize that, so lead by example.

Congratulations Dr. Jeremy Bennett on being named 40 Under 40!

Under your leadership, we were named “Best Of ” in U.S. News & World Report

U.S. News & World Report Ranked Best Online Bachelors Degree Program Best Part-Time MBA Program Best Online MBA Program

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July 27 - August 9, 2020

CHRIS BONNER

KATELYN N. BREWER

Age: 39 Position/title: Architect and Firm Principal, b Studio Architecture Education/degrees: Bachelor of Architecture from Virginia Tech What is your proudest accomplishment?

Receiving my architecture license was the culmination of a long journey. After a five-year professional degree, including a thesis year, it then took another four years of professional exposure to be able to sit for the nine separate exams. After studying and passing them all over the course of a few months, it was an amazing sense of accomplishment to be able to call myself an architect.

What are your professional goals for the next five years?

I will soon be opening an office of my own design and have the freedom to really lead by example. We will be able to expand our service offerings and mix in development work along with our client-centric designs. Overall, I hope to help diversify the built realm with creative solutions.

Why do you choose to live in Charleston?

Charleston is a great little city where one can be influential and effect real change with the right amount of effort. Its mixed-use, historic core is a blueprint that has been lost in many American cities, but its thoughtfulness in how the city expands is equally unique.

The fantastic weather, scenery and depth of cultural events for a city of its size really makes this a special place..

How do you feel rewarded by your community service?

I find great satisfaction in seeing others succeed, and that feeling forms the base of my community outreach. Each success story makes our community that much stronger.

Age: 34 Position/title: President/CEO, Darkness to Light Education/degrees: B.A. in International Relations and French from Wheaton College, Mass.

What are your professional goals for the next five years?

I will be here for as long as my leadership and vision benefit the overall success of the mission. I am currently launching our second strategic planning process.

How do you feel rewarded by your community service?

I went into working for nonprofits thinking that I was going to be the one to change the world. What I’ve learned is that the world doesn’t change until it listens.

Any advice for the next generation?

If I could name one thing that helped me get to where I am today, I would say it would be my propensity to say yes — to menial tasks, to trips I would rather not have taken, to helping colleagues with projects out of my wheelhouse, and to asking for more responsibility and compensation.

congratulations

KATELYN BREWER on being named one of Charleston’s 40 under 40!

Katelyn is a champion of courageous leadership and social responsibility. We are proud to call her our President and CEO.

July 27 - August 9, 2020

www.charlestonbusiness.com 21

KELSI BREWER Age: 28 Position/title: Manager, Public and Community Relations, S.C. Ports Authority Education/degrees: Broadcast Journalism, University of South Carolina What made you select your chosen profession?

Since I was in middle school, I knew I would work in public/media relations. Ever since then, every class/school and career decision were based on knowing my passion, and now here I am today working in it and I could not be more proud and thankful with all of the decisions I made to get me to this point.

What’s the best advice you’ve ever been given?

Never stop learning and growing.

Any advice for the next generation?

Never turn down an opportunity to learn.

SC Ports’ employees strive for excellence in all that they do.

Kelsi Brewer, SCPA’s Community and Public Relations Manager, is a great representation of SC Ports’ values.

Congratulations, Kelsi, on being named Forty Under 40!

®

THE WORLD CONNECTS HERE

ABBY BUNKLEY

Age: 34 Position/title: Ambulatory Quality Manager, Roper St. Francis Healthcare Education/degrees: Master in Health Administration, MUSC; MBA, College of Charleston What made you select your chosen profession?

I chose to work in health care because I wanted to make a difference in other people’s lives.

Growing up I wanted to be a marine biologist.

My love for marine life still exists today, and I enjoy fishing and boating on the weekends with friends and family.

What is your proudest accomplishment?

Receiving my MHA with honors from MUSC while working full time as a practice manager at O’Neill Plastic Surgery and undergoing treatment for blood cancer.

Congratulations

FORTY UNDER 40 WINNER selected by the Charleston Regional Business Journal

Abby Bunkley

Manager Performance Improvement Quality Engineering

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July 27 - August 9, 2020

KARRIEMA CALHOUN

SEAN CONNOR Age: 39

Age: 32 Position/title: Senior Process Analyst, Boeing Co.

Position/title: Teacher Recruiter for Charleston County School District and Owner of Towin’ the Dough Food Truck

Education/degrees: B.A., Journalism & Mass Communications; MBA; M.S. in Information Systems Technology Management

Education/degrees: Master’s in School Counseling, The Citadel; Elementary Education, The College of St. Rose

What made you select your chosen profession?

I got into IT from being open-minded and open to trying new opportunities. Growing up, I thought I was going to be a doctor, then later, a pharmacist. After my first year of college, I knew pharmacy wasn’t for me. It wasn’t until nine years ago that I was introduced to IT and realized how much I enjoyed working in a STEM field.

What is your proudest accomplishment?

Graduating high school at age 16 as valedictorian of my class.

What’s the best advice you’ve ever been given?

No matter where you are in your career, you can make an impact.

Any advice for the next generation?

Have a plan, but be flexible. You never know when and where a great opportunity will come along.

What is your proudest accomplishment?

To grow Towin’ the Dough into a highly sought out wedding caterer from the ground up. We have been able to consistently do 20 to 30 weddings a year, maintain a 5.0 rating on Facebook and WeddingWire, all by doing minimal advertising. Not a bad for a part-time gig.

What’s the best advice you’ve ever been given?

Just make good decisions.

Any advice for the next generation?

Advice that I would give the next generation is to: 1. Pick your head up out of your technology. The world has many beautiful things going on in front of your eyes, but they are missing it because they are too engulfed with technology and social media.

2. Take a personal finance class in high school or college.

3. Become passionate about something.

JUSTIN CRUZ Take your events online Age: 37 Position/title: Manager, K-12 Solutions Engineering, Blackbaud Education/degrees: B.A. in Communications, College of Charleston

With many of your clients and prospects working from home, now is a great time to engage them through a webinar.

Hosting a webinar is a powerful way to connect with your target audience, and with the Charleston Regional Business Journal - you won’t have to worry about any of the logistics.

Whether you’re looking to move an in-person event online, or just need to generate quality sales leads, our team can help provide turnkey service from marketing to execution!

What is included in your webinar: • 45-60 minute webinar • Dedicated project support • Email marketing • Social media • Print ad

For more information, please contact Grady Johnson at gjohnson@scbiznews.com or (843) 849-3103.

What is your proudest accomplishment?

My children are my proudest accomplishment — nothing else even comes close. I’ve never sacrificed more and gotten so much in return than I have in the four years I’ve been a dad.

Having kids forces you to reckon with your own hopes and fears and teaches you about responsibility in ways you never thought possible. I want my kids to grow up with a strong sense of community and have compassion for others.

How do you feel rewarded by your community service?

My community service energizes me and gives me the compassion and confidence to be a better father, husband, manager, employee and friend.

Any advice for the next generation?

Let your passion guide you to make the positive changes in the world you wish to see.

July 27 - August 9, 2020

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GRAYSON DORR

BRENT DUNCAN

Age: 33

Age: 33

Position/title: Investment Finance Manager, SCRA

Position/title: Senior Manager of Advertising and Community Engagement, S.C. Aquarium

Education/degrees: B.S. Business Administration / Management Information Systems, The Citadel; MBA, Charleston Southern University What made you select your chosen profession?

I have dedicated my career toward working with the state of South Carolina in various capacities. From the beginning, I always had an interest in economic development and desire to work in that field. It is rewarding now to get to support entrepreneurs in my current role, helping bring jobs and additional capital to this state.

Why do you choose to live in Charleston?

Charleston is home; I was born and raised in the tri-county area and have spent my entire career thus far in the Lowcountry.

Any advice for the next generation?

Be present and break away from the fast-growing “norm” of communicating behind a screen/phone. Never underestimate the power of networking and a handshake.

Education/degrees: B.A., Public Relations / Business Administration, University of South Carolina What made you select your chosen profession?

I chose to pursue public relations and marketing because I’m fascinated by consumer behavior, trends and the data behind the choices people make. I knew that I wanted to be in a field that could allow me to be creative while also achieving tangible goals and furthering a mission.

What’s the best advice you’ve ever been given?

Never allow anyone else but you to define your success.

Congratulations, Grayson!

Congratulations, Grayson, on this well-deserved honor. The world now knows what we already knew – you’re a superstar!

- Bob Quinn, Executive Director SCRA

Grayson Dorr SCRA Investment Finance Manager

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July 27 - August 9, 2020

LESLEY A. FIRESTONE

ALICIA LOPEZ FLOYD

Age: 34

Age: 36

Position/title: Environmental Attorney and Litigator, Moore & Van Allen PLLC

Position/title: Leadership Next Senior Program Manager, Boeing/Accelerated Development

Education/degrees: B.A., University of South Carolina, summa cum laude; J.D., University of South Carolina What is your proudest accomplishment?

I am most proud of the work I have done on a pro bono appellate case. I have worked on a controversial criminal defense case in which an evidentiary rule may have been improperly applied, for nearly seven years, as part of the S.C. Appellate Practice Program. I lost in the Court of Appeals, at which point my obligation to my client ended; however, I was not ready to give up. I decided to take the matter to the highest court of South Carolina and ultimately found myself presenting an oral argument to the S.C. Supreme Court. Preparing and presenting an oral argument to the S.C. Supreme Court was extremely daunting and challenging. I spent a lot of time preparing and am proud that I delivered my argument with conviction and composure.

This ruling could have a large impact on many criminal cases going forward. There is potential to change the law here, and that is why I practice law.

How do you feel rewarded by your community service?

I choose to serve my community not for the way it makes me feel, but for how it helps others that are in situations that are beyond their control.

Education/degrees: B.S., Business Management; B.A., Psychology; MBA; Graduate Technical Project Management Certificate; MIT Leaders at All Levels Certificate; John Maxwell Building People Coaching Certificate What is your proudest accomplishment?

My sons are my proudest accomplishment.

What’s the best advice you’ve ever been given?

I never learned my lessons from hilltops, I learned them from valleys.

Any advice for the next generation?

We are all working and living in a place of greater need to show attributes of empathy and be mindful of our safety and well-being. The people who you love and lead need to see you. I ask you, “How can we help heal the world?”

ASHLEY HOPKINS FURR Age: 37 Position/title: Learning & Development Specialist II, Benefitfocus Education/degrees: B.A., Business Administration, Columbia College What’s the best advice you’ve ever been given?

My parents always taught me to treat everyone you meet with compassion and kindness. Treat the janitor the same as you would the CEO. Those are words I’ve always tried my best to live by, to be the best example of this and encourage others to do the same.

Any advice for the next generation?

Work hard, don’t take the easy way out. The satisfaction you’ll feel will be well worth the investment. Be a change agent for the things you are passionate about. Celebrate life’s little feats and big milestones. Be honest and genuine, have humility, and give grace to yourself and others.

HANNA GERVAIS Age: 30 Position/title: Civil Engineer – Navigation, Army Corps of Engineers, Charleston District Education/degrees: B.S. Civil Engineering; M.S. Civil Engineering, Clemson University What made you select your chosen profession?

My dad was a civil engineer for the Navy, which had a huge impact on me. Public service seemed like a great career where you get to work on interesting, impactful projects and still maintain a good worklife balance. I always thought I would build buildings, bridges, or roads, but I ended up in soils and water, which I love.

What is your proudest accomplishment?

I am very proud of being the lead design engineer on the first and last dredging contracts for the Post 45 Charleston Harbor Deepening project. We overcame a lot of doubt that a small team of very young engineers could design a $500 million dredging project.

July 27 - August 9, 2020

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KELLEY GLENN

KRISTA GODEK Age: 39

Age: 38 Position/title: Director of Leasing, Retail Operations, The RMR Group Education/degrees: Presbyterian College What made you select your chosen profession?

I enjoy the business aspect of commercial real estate and being able to start with a vision, create a plan, and see it all come together.

It’s very rewarding to connect local and national businesses and allow everyone to work together toward a common goal.

What’s the best advice you’ve ever been given?

Always fail forward. No one has success without failure. The more you fail, the more likely you are to succeed and get back up with greater knowledge, confidence and optimism.

Why do you choose to live in Charleston?

I love Charleston for its beautiful scenery, endless things to do, and most importantly the people and lifelong relationships I have created.

Position/title: Executive Director, JusticeWorks Behavioral Care, The Lonon Foundation Education/degrees: Bachelors in Special Education, Masters in Social Work, Licensed Independent Social Worker What made you select your chosen profession?

Growing up, I wanted to be a special education teacher. I started my career in special education and realized I wanted to do more and address the family system. That’s when I started my path to become a social worker.

Why do you choose to live in Charleston?

Charleston is a beautiful, diverse city, with many opportunities to connect with people.

The perseverance of the people here is extremely humbling and inspiring.

How do you feel rewarded by your community service?

The reward comes for me when the families we work with are getting better and children can remain at home with their biological families instead of being placed in foster care. Families understand their own needs and how to create a better environment for their children — ending that intergenerational trauma cycle.

TERI-LEE HOLLAND Age: 39 Position/title: Mom, Wife, Data Center and Cloud Hosting Services Division Head, Naval Information Warfare Center Atlantic Education/degrees: B.S. in Biology What made you select your chosen profession?

This profession chose me. I grew up wanting to be a veterinarian, marine biologist or a physician’s assistant, and never considered working in IT for the Department of Defense.

What are your professional goals for the next five years?

I would like to specialize in cybersecurity leadership, not only as a career path, but to also work with small businesses in the Charleston area.

What’s the best advice you’ve ever been given?

Being told that I am responsible for how I react and not how others react.

How do you feel rewarded by your community service?

Each time I finish a community service project, I feel a sense of pride and want to do so much more.

GARY JAFFE Age: 35 Position/title: Director of Contracts & Business Development, Atlas Technologies Inc. Education/degrees: B.S. Business Administration, MBA, The Citadel What’s the best advice you’ve ever been given?

My grandfather used to always tell me to treat others the way I would want to be treated. Seems simple — but sometimes the execution of it can be challenging. That said, I always strive to be the kind of person with whom I’d want to associate.

Why do you choose to live in Charleston?

Charleston is obviously an incredible place to live. My wife and I have a love for Charleston that dates back to our college years. We’ve never lived anywhere else together and don’t have plans to. It has everything we want for our family. It truly has become home for us.

Any advice for the next generation?

Be present and lead by example.

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July 27 - August 9, 2020

DEJA KNIGHT

COURTENAY LEWANDOWSKI

Age: 31

Age: 39

Position/title: Founder and CEO, Pearl Public Relations

Position/title: Senior Director, Strategy and Advancement, S.C. Aquarium

Education/degrees: B.A. in Communications, University of Alabama

Education/degrees: B.A. in Art History, Fordham University; Master of Public Administration, New York University

What made you select your chosen profession?

I was a journalist for five years before making the switch to public relations. PR is the best of both worlds for me because I still get to interact with media while also getting to work with clients and organizations I am passionate about.

What is your proudest accomplishment?

My proudest accomplishment was being chosen as Presidential Candidate Senator Amy Klobuchar’s senior communications adviser for the state of South Carolina.

What’s the best advice you’ve ever been given?

When it comes to communications - “Be clear. Be concise. Be creative.”

What is your proudest accomplishment?

Supporting the expansive impact of the S.C. Aquarium and elevating the work of my extraordinary colleagues. No institution has ever inspired me as the aquarium does, and no group of people has ever ignited my passion for conservation and education as they have.

What’s the best advice you’ve ever been given?

“Always take your work more seriously than yourself.”

How do you feel rewarded by your community service?

Witnessing the impact nonprofits make on the lives of their constituencies is the greatest reward.

Any advice for the next generation?

Don’t give up. My advice is to find what you are willing to fight for, and never stop fighting for it.

Create your Virtual Shoutout today!

Congratulate your Forty Under 40 honoree with a shoutout video.

A “Virtual Shoutout” gives you an opportunity to create up to a 15 second video that will be played after the honoree is recognized during the event.

This provides your team the opportunity to join in the celebration and show support for your Forty Under 40 honoree.

Contact Grady Johnson at 843-849-3103 or gjohnson@scbiznews.com for more information.

July 27 - August 9, 2020

www.charlestonbusiness.com 27

MADELENE LEWIS, M.D.

REZSAUN LEWIS Age: 38

Age: 39

Position/Title: Executive Director, Lowcountry Youth Services

Position/title: Associate Professor Diagnostic Radiology, Program Director Radiology Residency, MUSC

Education/degrees: Associate Degree, Trident Technical College, Bachelor’s Degree in Elementary Education, College of Charleston, Currently pursuing a Master of Public Administration degree, College of Charleston

Education/degrees: B.A., M.D. What made you select your chosen profession? Was this your choice when you were growing up?

I’ve always wanted to be a doctor. I love science and am fascinated by how the human body works. I am passionate about helping others and in my job, I can see the impact I have on other people’s lives.

What is your proudest accomplishment?

I am a cancer survivor. In 2019, I was diagnosed with breast cancer at the age of 38.

During that year, I underwent chemotherapy and three surgeries while still being a mom, wife, daughter, sister, radiologist and all my other roles. This is my proudest accomplishment because I learned so much about myself through the process. It has made me grateful for every minute I have on this Earth and for all my family and friends that were by my side.

What made you select your chosen profession?

I chose to work with Lowcountry Youth Services as a part of my progression while growing as a leader in the field of youth development. I had no idea that I would end up doing what I do, but I always knew that I wanted to do something that would help others in my community.

What are your professional goals for the next five years?

I want to continue to build the capacity of my organization so that we can hire employees and institute an in-school mentoring component that will allow us to reach more children and provide more jobs in the Lowcountry. I also want to expand our services to provide additional opportunities for kids who are often overlooked by many community programs.

Congratulation to Madelene Lewis, M.D., for being named one of Charleston’s Forty Under 40!

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July 27 - August 9, 2020

KENNY LYONS Age: 34

TOWNER MAGILL Age: 38

Position/title: Vice President of Operations, The Neighborhood Dining Group

Position/title: Strategic Account Manager, Brenntag Mid-South Inc.

Education/degrees: BBA in Banking and Finance, BBA in Real Estate, University of Mississippi

Education/degrees: University of Georgia, B.A., economics What made you select your chosen profession?

As a child I knew I wanted to be in sales. My mother had cards made for me at a young age to use with giving birthday gifts, and I gave them out like business cards whenever people came over to the house.

What is your proudest accomplishment?

The opening of Husk Nashville – that was a big deal. It was an incredibly fun, immensely challenging 3 1/2 years. I certainly couldn’t have done it without the people surrounding me. I believe it prepared me for my next opportunity. I am now helping to manage a company with over 400 employees with operations in three states.

What’s the best advice you’ve ever been given?

It’s something I have to be reminded of often: Shut up and listen before speaking.

Why do you choose to live in Charleston?

I was born and raised in Nashville, Tenn. Two opportunities presented themselves almost simultaneously: a chance to grow professionally with The Neighborhood Dining Group and the luck to be with my Charleston-based girlfriend, now my wife. I love getting back to Nashville, but Charleston really is a unique place and I’m excited to raise my family here.

Why do you choose to live in Charleston?

I fell in love with the living on the coast, the smaller town atmosphere, and all the food and culture Charleston had to offer. I love the melting pot of backgrounds we have in the Lowcountry and think it contributes greatly to our success as a region.

Any advice for the next generation?

Get involved in your community from a young age, and don’t believe anyone who tells you that you can’t accomplish great things from early on.

CONGRATS!

SCOTT PEEVY Age: 38 Position/title: Commercial Real Estate Brokerage, NAI Charleston, LLC Education/degrees: B.S., Financial Management, Clemson University

Scott Peevy Broker

843.518.5316 speevy@naicharleston.com

From your NAI family, we are so proud of you. Keep up the great work!

What’s the best advice you’ve ever been given?

Make five-year decisions, not one-decisions. Make decisions with the long view in mind.

How do you feel rewarded by your community service?

Seeing is believing. Being involved with The First Tee of Greater Charleston presents a unique opportunity not only to see firsthand the good work being done, but also to work alongside a tremendous group of passionate volunteers, dedicated program staff and leadership, and committed supporters that all truly believe in the initiative. Everyone is all-in.

Any advice for the next generation?

Where you want to be starts with your next step. Make a plan, know it will change, but just take the first step — and hang on tight!

July 27 - August 9, 2020

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MARVIN R. PENDARVIS

REBECCA PHILLIPS Age: 37

Age: 30 Position/title: S.C. State Representative, Attorney with the Peper Law Firm Education/degrees: University of South Carolina, B.A. cum laude; J.D. What made you select your chosen profession?

At the age of 5 I told my mother I wanted to be a lawyer. That dream stayed with me throughout my educational journey.

It was in law school that I saw myself going into public service, but unsure of when. I felt an urge to run for office and did. I lost in 2015 but won in 2017.

Since, I realized that my passion is helping people — something I do through law and public service.

What are your professional goals for the next five years?

I plan to run for mayor of North Charleston in 2023. Everything I do until then will be laying the foundation for that race.

What’s the best advice you’ve ever been given?

Trust the process.

ANTHONY POOLE, PA-C Age: 36 Position/title: Chief Clinical and Quality Officer, Physician Assistant, Fetter Health Care Network Education/degrees: M.S. in Physician Assistant Studies, B.S. in Health Science What is your proudest accomplishment?

The work we’ve done to improve the quality of care provided at Fetter Health Care Network, especially in the areas of diabetes, cardiovascular disease and cancer prevention. I take great pride in the fact that, even though many of my patients lack financial resources, I can provide the same quality of care that a private practice would for those patients with greater means.

Any advice for the next generation?

Follow your passions and ask God to guide your steps. Always remain humble but don’t be afraid to set big goals and strive for greatness in all things. Always seek to make a difference in the world around you.

Position/title: Financial Center Manager, S.C. Federal Credit Union Education/degrees: B.A. in History and M.A. in American Military Studies from Columbia College What is your proudest accomplishment?

Obtaining my master’s degree while working a full-time job and raising two young children. I truly believe that where there’s a will, there’s a way, and that you can accomplish anything you set your mind to if you’re willing to work hard enough.

What’s the best advice you’ve ever been given?

“Never forget where you come from and how hard you worked to get where you are.” I’m a strong believer that when your hard work brings you blessings, you should pay it forward and bless the people who helped you get where you are. No matter what your journey looked like, a lot of people gave you a hand along the way.

Any advice for the next generation?

Don’t lose sight of the power of one. One person can always make a difference, regardless of how small you think the impact is.

CONGRATULATIONS

REBECCA PHILLIPS

FORTY UNDER 40 CLASS OF 2020

South Carolina Federal Credit Union congratulates Rebecca Phillips, Summerville Financial Center Manager, for being named one of Charleston Regional Business Journal’s Forty Under 40 Class of 2020.

scfederal.org

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July 27 - August 9, 2020

GABRIELLE POOLE

MEGAN RAMSEY

Age: 36

Age: 38

Position/title: Founding Physician Assistant Program Director, Charleston Southern University

Position/title: CFO, Lowcountry Land Trust

Education/degrees: M.S. in Physician Assistant, MUSC; B.S. in Biology, Wofford College What made you select your chosen profession?

I always knew I wanted to go into medicine.

I ultimately chose to become a Physician Assistant because I knew this career would give me the opportunity to learn the medical knowledge and skills necessary to provide compassionate health care to my patients.

What is your proudest accomplishment?

The opportunity to lead the efforts to begin a PA program at CSU. What are your professional goals for the next five years?

I am working on my Doctor of Medical Science degree. I want to successfully assist the PA Program at CSU in earning full accreditation. I hope to continue to grow as a leader through continued professional development opportunities.

What’s the best advice you’ve ever been given?

Don’t be afraid to be vulnerable, because it is a sign of honesty, not weakness.

Education/degrees: B.A., elementary education, University of Arizona, MBA: Accounting, Grand Canyon University What is your proudest accomplishment?

Maintaining a purple crown throughout fifth grade. Colored crowns were a reward system in elementary school back in Boomer days. Successes were measured very simply then, and goals were easy to build upon. That purple crown, though, gave me the confidence to be here answering this question in quarantine. I’m proud of that purple crown and everything it represents.

What’s the best advice you’ve ever been given?

You got to know when to fold ’em, know when to hold ’em, know when to walk away, and know when to run.

Why do you choose to live in Charleston?

Charleston chose us. As a military family, we were stationed here in 2009, but like most transplants, we just never left.

Create your Virtual Shoutout today!

Congratulate your Forty Under 40 honoree with a shoutout video.

A “Virtual Shoutout” gives you an opportunity to create up to a 15 second video that will be played after the honoree is recognized during the event.

This provides your team the opportunity to join in the celebration and show support for your Forty Under 40 honoree.

Contact Grady Johnson at 843-849-3103 or gjohnson@scbiznews.com for more information.

July 27 - August 9, 2020

www.charlestonbusiness.com 31

MIKE RETTALIATA Age: 37 Position/title: Construction Superintendent, Sea Island Habitat for Humanity Education/degrees: Attended college What made you select your chosen profession?

This was not my profession of choice growing up. My work is dedicated to providing safe and affordable housing to those in need of it. I grew up having the benefit of a decent place to live, and for years this was something I took for granted. I lost my dad when I was 21 and it changed my perspective on many things, including how I was spending most of my time.

What are your professional goals for the next five years?

To avoid complacency. To build on the repair program we started two years ago.

What’s the best advice you’ve ever been given?

Experience life outside of your comfort zone.

How do you feel rewarded by your community service?

I truly believe the time I spend at work changes lives. I am proud of this.

MICHAEL JONATHAN SAMUEL Age: 26 Position/title: Commercial Portfolio Manager, BB&T, now Truist Education/degrees: BBA in Business Economics and BBA in Risk Management and Insurance from Georgia State University; HBX Credential of Readiness from Harvard Business School What made you select your chosen profession?

I took AP macroeconomics in high school and fell in love with the material. I felt it came naturally to me. I continued to gain even more interest in finance and economics in college and came to the realization that banking was the perfect mix of both areas of study. When I was growing up, I always thought I was going to be either an architect or an engineer.

What are your professional goals for the next five years?

Over the next five years, I will have completed the Chartered Financial Analyst program and aim to work in the institutional investing space.

What’s the best advice you’ve ever been given?

Always seek the best in people.

ANISHI SCOTT Age: 39 Position/title: Computer Scientist, Naval Information Warfare Center Atlantic Education/degrees: B.S. Computer Information Management Systems, MBA What’s the best advice you’ve ever been given?

“If you don’t know the answer, Google it. ... If you don’t know how to do a task, YouTube it. ... But never say ‘I can’t,’ because you can be a rock star at anything through the use of technology, a little research and hard work.”

Saluting your outstanding achievement

Congratulations to Michael Samuel on your well-deserved recognition as a 2020 Forty under 40 winner. We salute your success and the commitment to excellence it reflects. Thank you for your contributions that strengthen our community and enrich its future. Your example inspires us all.

Any advice for the next generation?

“Whatever you dream you can do, begin it. Boldness has genius, power and magic in it.

Begin it now.” – Goethe Truist Bank, Member FDIC. BB&T now Truist. To learn more, visit BB&T.com/Truist

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MELISSA SPENCE

Employment Lawyer Melissa Spence One of Charleston’s Forty Under 40 Class of 2020 Congratulations!

843.720.1742 mspence@nexsenpruet.com

1945 – 2020

205 King Street | Suite 400 Charleston, SC 29401

nexsenpruet.com

Age: 35 Position/title: Attorney (Member), Nexsen Pruet, LLC Education/degrees: B.A., Wofford College; J.D., Charleston School of Law What’s the best advice you’ve ever been given?

The judge I clerked for after my graduation from law school followed Ronald Reagan’s old adage: “Trust, but verify.” He would reiterate it to his law clerks daily to ensure we exhausted all legal resources before reaching a conclusion. It has stuck with me throughout my career.

Why do you choose to live in Charleston?

I love Charleston because it’s a small city that acts like a big city. It has the best restaurants, a thriving arts scene, and is always attracting new businesses. I’m not sure why anyone would choose to live anywhere else.

How do you feel rewarded by your community service?

My community service is confirmation that I’m making an impact in the lives of others.

Any advice for the next generation?

Leave the world a better place than you found it. Find a cause you believe in and get involved.

KERBY TELLER

Age: 33 Position/title: Senior Vice President, CBI Workplace Solutions Education/ degrees: Davidson College, B.A. Political Science What’s the best advice you’ve ever been given?

The best advice I was given early in my career was to be the first person in the office, the last to leave, and to outwork every else. As my career has progressed, the motto “Work smarter, not harder,” has been helpful.

Any advice for the next generation?

Don’t hide behind technology and devices. Get outside, travel, explore, and find what you’re passionate about. Also, be nice to your parents!

COURTNAY THOMPSON Age: 35 Position/title: Market President, Select Health of South Carolina Education/degrees: B.S. in Nursing What is your proudest accomplishment?

I am most proud (and honored and humbled) to have been chosen to lead my organization in South Carolina. Our company gives back in many ways, and having the ability to shape those decisions is an incredible opportunity that I do not take lightly.

What’s the best advice you’ve ever been given?

Embrace each moment as if you chose it, and be kind because you don’t know what others are going through.

Any advice for the next generation?

Roll up your sleeves and work hard for what you want. Don’t be above doing anything.

Take risks to get you where you need to go. Get a mentor.

July 27 - August 9, 2020

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MOLLY WARING

LAURA ZAGBY-DYE Age: 39

Age: 36 Position/title: Owner/Partner, Ballyhoo & Co.

Position/title: Biomedical National Partnership Manager, American Red Cross

Education/degrees: B.A., University of South Carolina; Master of Public Administration, College of Charleston

Education/degrees: College of Charleston, B.A.s in Philosophy, Corporate Communication and Religious Studies. Business minor

What made you select your chosen profession?

I have a passion for learning and problem-solving, and I have always moved on from jobs when I hit the “learning ceiling.” I did not plan to be an entrepreneur as a child but working with and learning from my clients will keep me satisfied for the rest of my career.

What made you select your chosen profession?

I never knew what I wanted to do when I grew up. I found my first “job” with the American Red Cross through the Career Services Department at CofC and now, 16 years later, it is a career I love.

What are your professional goals for the next five years?

My goal for the next five years is to grow Ballyhoo & Co. and to launch our new online platform connecting creatives with like-minded brands.

What is your proudest accomplishment?

Knowing people are alive because of the work I do.

What’s the best advice you’ve ever been given?

The only thing you own is your honor. – My Dad

How do you feel rewarded by your community service?

Giving just feels so good!

Why do you choose to live in Charleston?

My family has been here for generations. I could not imagine living anywhere else!

Any advice for the next generation?

I know service can seem like work and it can feel like there is not enough time in the day for volunteer activities. I encourage you to engage your friends and family in causes that are dear to you in simple, easily accessible ways. It is so easy to serve when you weave it into your daily activities.

Any advice for the next generation?

Give back to the community that gives you so much.

Ballyhoo + Co., Croghan’s Jewel Box, The Gibbes Museum of Art, South State Bank, and Urban Electric Co.

Congratulations,

Courtnay Thompson

CONGRATULATE MOLLY WARING FOR BEING HONORED IN THE 2020 CLASS OF 40 UNDER 40!

and all Forty Under 40 Class of 2020 winners!

We are so proud of you!

Helping people get care, stay well, and build healthy communities — since 1995. www.selecthealthofsc.com Find First Choice by Select Health on

and

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REGISTER TODAY!

Join us as we celebrate the Forty Under 40 Class of 2020!

2020 marks the 23rd anniversary of the Forty Under 40 awards, which are presented this year by the College of Charleston School of Business - Master of Business Administration.

Over the years, the Charleston Regional Business Journal has honored a “Who’s Who” of the Charleston business community. Join us this year at a virtual Forty Under 40 event and help honor the best and brightest young professionals in the Lowcountry!

Registration proceeds benefit the Lowcountry Food Bank.

Register online today: bit.ly/crbj2020fortyreg

NEW DATE: 12:00 p.m. to 2:00 p.m

Wednesday, August 26

Virtual Event

Presented by:

For sponsorship information, call Grady Johnson at (843) 849-3103.

#40CHS

At Work

BUSINESS DIGEST | PEOPLE IN THE NEWS | HOT PROPERTIES | PEER TO PEER

People in the News

Business Digest

Association for the Blind and Visually Impaired SC awarded $5,500 The Volvo Car U.S. Operations Community Fund of Coastal Community Foundation awarded a $5,500 grant to the Association for the Blind and Visually Impaired South Carolina for its Own Your Life program. The grant will help support the vision rehabilitation services offered at the association’s new Ladson facility, which opened in March. The program provides personal independence and vocational rehabilitation training for adults who are blind or visually impaired in Berkeley, Charleston and Dorchester counties. Classes and opportunities include activities of daily living training, assistive technology tutoring, braille, client connections, computer training, guide dog scholarships, orientation and mobility training, and therapy.

New CSU fall academic calendar begins early, ends by Thanksgiving

Charleston Southern University has modified its fall 2020 academic calendar in an effort to minimize COVID-19 risk.

The accelerated schedule begins earlier in August and provides a seven-week winter break, a strategy adopted by many universities nationwide. The academic calendar meets the standards of a full 14-week semester.

College of Charleston to add new major in electrical engineering

Pending approval by the Southern Association of Colleges and Schools Commission on Colleges, the College of Charleston will soon offer a Bachelor of Science in electrical engineering. The program will enroll its first students for the fall 2021 semester. The college has also joined in a partnership with Clemson University through which graduates of the College of Charleston’s systems engineering program can matriculate into the Master of Engineering in electrical engineering program at Clemson’s Zucker Family Graduate Education Center. The college created the systems engineering program in 2019 and will enroll the first systems engineering students this fall. The College of Charleston is the first university in South Carolina to offer a Bachelor of Science in systems engineering.

New stores open in Freshfields Village

Freshfields Village has several new stores.

Doin’ The Charleston, on Gardeners Circle near Ladles and Village Dentistry,

specializes in gourmet foods, gifts and entertaining accessories. Indigo Health is off Freshfields Drive on the second floor above Tres Carmen and offers chiropractic and massage therapy services. Jayne, located across the street from Indigo Books, offers a rotating selection of women’s luxury apparel. Patricia Reno Huff Gallery & Art Studio is on the second floor above Beija Flor and offers original artwork by Huff, a local artist, a well as group and private classes in oil, watercolor and pastel.

plete a checklist of operational assurances as outlined in the restaurant reopening guidelines. They will also participate in free online education and in a Department of Health and Environmental Control limited-scope food safety inspection.

Restaurants that successfully complete the checklist will earn a seal to be posted in the restaurant’s front window.

S.C. Ports employees are donating their 2020 Thanksgiving gift cards from the leadership team to the Lowcountry Food Bank. Their donation amounts to $22,000, which will help feed the community.

Hospitality leaders, McMaster launch new COVID-19 safety initiative

In collaboration with South Carolina’s hospitality leaders, Gov. Henry McMaster launched S.C. Palmetto Priority, a restaurant commitment overseen by the S.C. Restaurant and Lodging Association.

Participating restaurants pledge to com-

The Lowcountry Food Bank has hired Kyle Banks, Jose Padilla and Algernon Jackson as route drivers on the operations team; Robert Hee as a CDL Hubert driver; and Dontez Hubert as a warehouse associate. The community initiatives team has also hired Kim Bowlin as childhood hunger program coordinator and Misty Brady as program compliBowlin ance coordinator.

Bowlin has experience in education and nonprofit work.

She earned an undergraduate degree from Gettysburg College and a master’s degree from CaliforBrady nia State University, Northridge. Brady has experience in project management and has worked in the mental health and criminal justice fields. She earned a Bachelor of Science in human services from Springfield College in Massachusetts.

TECHNOLOGY

Roper St. Francis donates medical equipment, supplies to Nicaragua S.C. Ports employees donate $22,000 to Lowcountry Food Bank

NONPROFIT

Roper St. Francis Healthcare donated unused and outdated medical equipment and supplies to the nonprofit Partners 4 Global Health, which is filling and shipping a 40-foot container to rural Nicaragua. This is the second time since 2017 that Roper has donated a shipping container to the Nicaraguan hospital.

The container included $140,000 worth of items such as isolettes, an ultrasound machine, exam tables, an X-ray machine and a surgical microscope that will enable surgeons to do procedures they haven’t previously done. Atlantic Marine Warehouse Co. stored the items for free.

See BUSINESS DIGEST, Page 38

Amy Justis, president of CMIT Solutions of Charleston, was recognized as one of 2020’s Women of the Channel by CRN. Justis was selected for her contribution to advocacy in technology, as well as her growth, thought leadership and dedication to innovation in the IT industry. This is her first time receiving the award. She also received CMIT’s Rookie of the Year Award in 2014.

The FaceSnap LLC has hired Talley McDaniel as business development manager. She has more than six years of experience in real estate and is licensed McDaniel in both North and South Carolina.

McDaniel has a bachelor’s degree in See PEOPLE, Page 37

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Hot Properties The following commercial real estate transactions were recently completed in the Charleston area. For weekly updates on commercial deals, see the Hot Properties feature every Monday in the Daily Journal email or online at www.charlestonbusiness.com. To submit items for the feature, send email to dailyjournal@scbiznews.com.

Target your market in an upcoming issue of the Charleston Regional Business Journal

AUGUST 10

ARCHITECTURE, ENGINEERING AND CONSTRUCTION (AEC) List: Architecture Firms Bonus List: Commercial Moving and Storage Companies

Advertising Deadline: July 27

Casey Loyal of Adams Property Group represented the landlord, Market at Mill Creek Partners LLC, in the lease of 1,628 square feet of retail space at Market at Mill Creek, in Unit 104 in Building A at 2114 S.C. Highway 41 in Mount Pleasant to Proactive Therapy of South Carolina.

Scott Siegfeldt of Jackson Cross Partners represented the tenant.

AUGUST 24

Robert Pratt of Re/Max Pro Realty represented the landlord, PR Properties of Summerville LLC, in the lease of 7,000 square feet of flex space in Suite 100 at 1668 Old Trolley Road in Summerville to Strikezone Elite LLC. Doug Richardson of The AgentOwned Realty Co. represented the tenant.

Vitré Ravenel Stephens and David Mantek of Avison Young – South Carolina Inc. represented the landlord, Long Term Holding LLC, in the lease of 3,200 square feet of retail space in Suite 640 at 3885 West Ashley Circle in Charleston to Heartland Dental LLC. Robey Spratt of Atlantic Retail Properties represented the tenant.

HEALTH CARE

List: Retirement Communities Bonus List: Home Health Care

Advertising Deadline: August 10 SEPTEMBER 7

MANUFACTURING

List: Largest Manufacturers Bonus List: Industrial Staffing Agencies

Gregg Legerton of Avison Young – South Carolina Inc. represented the landlord, Tobias LLC, in the lease of 1,312 square feet of office space in Suite 205-B at 1483 Tobias Gadson Blvd. in Charleston to Charleston Hand Therapy Center.

Bob Caldwell of Caldwell Commercial Real Estate Services represented the landlord, Greenville Corporate LLC, in the lease of 7,052 square feet of office space in Suite 501 at 5855 Core Road in North Charleston to ASRC Federal Holding Co. LLC. Ed Kercher of Cushman & Wakefield Thalhimer represented the tenant.

Advertising Deadline: August 24 SEPTEMBER 21

INFORMATION TECHNOLOGY

List: IT Services and Networking Companies

Advertising Deadline: September 7

For advertising information, call Grady Johnson at (843) 849-3103

Hagood Morrison Jr. and Alex Shields of Bridge Commercial represented the sublessee, Key West Boats, in the sublease of 44,800 square feet of warehouse space at 101 Innovation Drive in Summerville. John Beam and Hagood Morrison Sr. of Bridge Commercial represented the sublessor.

Jenna Philipp of Palmetto Commercial Properties represented the seller in the sale of 2,940 square feet of warehouse space at 4263 Spruill Ave. in North Charleston.

Robert L. Pratt of Re/Max Pro Realty represented the buyer, Robert L. Pratt LLC, in the sale of retail space at 1393 N. Main St. in Bonneau from CS1210 LLC for $950,000. Patrick Palmer and Bobby Balboni of NAI Columbia represented the seller.

Tradd Varner, Todd Garrett and Daniel McClam of Avison Young – South Carolina Inc. represented the landlord, WJJS Properties Ltd., in the lease of 1.60 acres of land at 0 Innovation Drive in Summerville to The Greenery Inc.

Andrew Tackitt of Radekopf & Associates represented the seller, Kulick Summerville Properties LLC, in the sale of 1.71 acres of retail space at 0 Old Trolley Road in Summerville to Trolley Road Holdings CC for $710,000. Richard Miler of Miler Properties Inc. represented the buyer.

Bob Evans of Caldwell Commercial Real Estate Services represented the buyer, Headley Properties LLC, in the purchase of office space in Unit 302 at 297 Seven Farms Drive on Daniel Island from 297 Seven Farms LLC for $580,650. Fritz Meyer of Meyer Kapp & Associates represented the seller.

July 27 - August 9, 2020

www.charlestonbusiness.com 37

Hot Properties The Charleston Battery, in the lease of 2,611 square feet of office space in Suite 320 at 75 Port City Landing in Mount Pleasant from HPFW LLC. Friend Gray of Holder Properties represented the landlord.

Eddie Buxton and Jenna Philipp of Palmetto Commercial Properties represented the landlord, Midland Professional Park LLC, in the lease of 10,900 square feet of office space at 320-C Midland Parkway in Summerville.

Hagood Morrison of Bridge Commercial represented the tenant, Universal Logistics, in the lease of 150,000 square feet of industrial space at 537 Omni Industrial Blvd. Peter Fennelly, Simons Johnson and Tim Raber of Bridge Commercial represented the landlord.

Todd Garrett and Tradd Varner of Avison Young represented the tenant, L&W Supply Corp., in the lease of 32,043 square feet of industrial space at 4791 Trade St. in North Charleston from Virgie C. Simmons Family LLC. John Beam and Hagood Morrison of Bridge Commercial represented the landlord, Warehouse Rentals LLC, in the lease of 64,000 square feet of industrial space at 270A Deming Way.

John Beam and Hagood Morrison of Bridge Commercial represented the landlord, Warehouse Rentals LLC, in the lease of 65,625 square feet of industrial space at 264A Deming Way to TRIGO-SCSI. Brooks Courtney of Bridge Commercial represented the tenant.

Kort Stutz and Carlmichael Harrison of Beach Commercial represented the tenant, Carpenter Novelties – VA Inc., in the lease of 1,200 square feet of retail space at 539 King St. in Charleston from 539 King Street LLC. Chad Yonce of Southeastern Management Group represented the landlord.

Bob Caldwell and Bob Evans of Caldwell Commercial Real Estate Services represented the landlord, Greenville Corporate LLC, in the lease of 15,931 square feet of office space in Suite 203 at 2442 Remount Road in North Charleston to Serco Inc. Kevin Coats of Jones Lang Lasalle represented the tenant.

John Beam and Hagood Morrison of Bridge Commercial represented the landlord, Warehouse Rentals LLC, in the lease of 24,000 square feet of industrial space at 270C Deming Way. Bob Caldwell and Bob Evans of Caldwell Commercial Real Estate Services represented the landlord, Greenville Corporate LLC, in the lease of 24,268 square feet of office space in Suite 708 at 2431 Aviation Ave. in North Charleston to Bar Education Inc., doing business as Southeastern Institute.

Cameron Yost, Reid Davis and Pete Harper of Lee & Associates Charleston represented the tenant,

Gregg Legerton of Avison Young – South Carolina Inc. represented the landlord, Tobias LLC, in the lease of 4,352 square feet of office space at 1483 Tobias Gadson Blvd. in Charleston to Roper St. Francis Physicians Network. Gregg Legerton of Avison Young – South Carolina Inc. represented the tenant.

Benjy Cooke of Oswald Cooke & Associates represented the seller, 1521 Savannah Hwy LLC, in the sale of 3,178 square feet of retail space at 8980 University Blvd. in North Charleston to H-Exchange LLC for $2.03 million. Dunston Powell of Carolina Commercial Real Estate represented the buyer.

Gregg Legerton of Avison Young – South Carolina Inc. represented the landlord, Tobias LLC, in the lease of 2,350 square feet of office space at 1483 Tobias Gadson Blvd. in Charleston to Tidewater Neurology. Kelly Edge of Carr Inc. represented the tenant.

People in the News PEOPLE, from Page 35

CONSTRUCTION

communications from Menlo College and a master’s degree in education administration from San Jose State University.

Landmark Construction Co. Inc. has hired Will Hightower as a project manager.

He will manage site work projects from preconstruction planning through project Hightower closeout. Hightower has more than 20 years of experience in commercial, industrial, residential, medical, higher education and federal construction. He previously worked as a project manager with Chastain Construction. Hightower has a Bachelor of Science from The Citadel.

ACCOUNTING Moore Beauston & Woodham LLP has hired Elizabeth K. Frantz as a senior accountant in its Charleston office.

Frantz has a Bachelor of Arts in accounting Frantz from Wofford College and a Master of Professional Accountancy in taxation from Clemson University. She has more than five years of public accounting experience and is a member of the S.C. Association of Certified Public Accountants and the American Institute of Certified Public Accountants.

ENGINEERING Engineering Consulting Services has promoted Derek Clyburn to subsidiary president of ECS Southeast LLP. Clyburn has more than 25 years of experience in geotechnical and construction materials

engineering, special inspections and environmental services.

He holds a Bachelor of Science in civil engineering from Clemson University and an MBA from Clyburn the University of Tennessee. Clyburn most recently served as president for the American Council of Engineering Companies of North Carolina and now serves as its national director.

ARCHITECTURE SMHa Inc. has hired Marie Delcioppo as director of marketing. She has more than 20 years of experience in marketing and public relations, including work in real estate develop-

Delcioppo

ment and construction. Delcioppo also serves on Charleston City Council and the Berkeley County Sheriff ’s Office Citizen Advisory Board, and she was past president of the Daniel Island Neighborhood Association.

LAW Molly Cherry, who most recently was an attorney with Nexsen Pruet for 22 years, has been selected as the newest federal magistrate for the District of South Carolina. Before joining Nexsen Pruet, Cherry served as a clerk under U.S. District Judge David C. Norton in Charleston. Cherry holds the Compleat Lawyer Award from the University of South Carolina and has participated in the Liberty Fellowship Program. She is a certified specialist in employment and labor law by the S.C. Supreme Court. Cherry also holds a Martindale-Hubbell AV Preeminent Peer Review Rating and serves on the board for the International Association of Defense Counsel.

Submit items at our online submission portal: www.CRBJBizWire.com. Publication in print and online is subject to editorial discretion.

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Business Digest BUSINESS DIGEST, from Page 35

East Cooper Habitat For Humanity Restore rebranding with new name

East Cooper Habitat for Humanity ReStore has rebranded as East Cooper Home Store. The store will continue to offer free pickups for donated items.

Bumpa’s opens in French Quarter in downtown Charleston

Bumpa’s has opened at 5 Cumberland St. in the French Quarter. The restaurant serves specialty fries, burgers and other bar food. It is the first bar concept by brothers Dan and Conor Sullivan, who are paying tribute to their grandfather, “Bumpa.” Executive chef Joe Palmitessa has previously held positions at the Forbes four-star Hotel Bennett and Kiawah’s Golf Resort’s Ocean Room. The restaurant is open from 4 p.m. to midnight Sunday through Wednesday and 4 p.m. to 2 a.m.

Thursday through Saturday. Special deals will be offered to members of the food and beverage and hospitality industries.

Autobell Car Wash opens new Lowcountry location

Autobell has opened a new carwash at 3661 Savannah Highway. A new interior disinfectant service is being provided for free to all customers with the purchase of an interior cleaning. First responders

and government workers with a government-issued ID can request the service without a purchase. Eventually, the service will become an a la carte option.

awarded to Charleston County. Partners include The Green Heart Project, Fresh Future Farm and GrowFood Carolina.

The program will include school gardens, farm field trips, local food procurement and agricultural education efforts.

Fetter Health Care Network receives emergency grant from Direct Relief

Fetter Health Care Network has received $50,000 in emergency grant funding from the medical aid organization Direct Relief in partnership with the National Association of Community Health Centers.

Fetter Health was among 518 federally qualified health centers to receive funding through Direct Relief ’s $25 million COVID-19 Fund for Community Health.

The funds will be used to help support the cost of health care expansion for vulnerable populations, as well as operational expenses for COVID-19 testing sites in Charleston, Dorchester, Colleton and Berkeley counties.

AgSouth Farm Credit distributes $8 million in profits to borrowers

AgSouth Farm Credit disbursed $8 million in special patronage, in addition to the record-breaking $39 million distribution received by the cooperative’s members earlier this year. The board of directors approved an additional onetime, all-cash distribution to help support its members and the rural communities it serves during the coronavirus pandemic.

Kiawah River launches virtual home tours

Kiawah River, a new waterfront community on Johns Island, has launched virtual home tours of its properties. Broker in charge Andy Hines will guide parties through a virtual selection of Kiawah River’s newest homes.

Berkeley Chamber kicks off new program with community partners Opportunity Zone gets $100,000 for farm-to-school programs

Charleston County School District has been awarded a grant from the U.S. Department of Agriculture to offer farmto-school programs at five schools in Charleston’s Opportunity Zone: Chicora Elementary, Mitchell Elementary, Sanders-Clyde Elementary, Meeting Street Elementary at Brentwood and Meeting Street Elementary at Burns. These grants bring fresh, local foods into schools and foster economic opportunity for farmers. It is the first farm-to-school grant

Give the gift of awareness!

The Berkeley Chamber of Commerce has announced Berkeley Community Cares, a new program through its Rural Initiative. Partners include Berkeley Community Mental Health Center; S.C. Vocational Rehabilitation Department; S.C. Department of Social Services, Berkeley-Dorchester Area Office; At-Risk Programs for Berkeley County School District; Berkeley-Charleston-Dorchester Council of Governments; Berkeley Citizens Inc.; Lowcountry Food Bank; and Community Hope Impact Center. Visits will be coordinated in rural areas to provide the community with resources such as food, wellness and health services.

Giving

Our Giving magazine is a special opportunity to support philanthropy in the Lowcountry.

The articles tell the heartwarming story of the community’s generosity.

The winners of the Association of Fundraising Professionals Lowcountry Chapter Philanthropy Awards are also featured.

Your advertising dollars enable the Business Journal to donate advertising space to Lowcountry charitable organizations in a section called “Nonprofit Spotlights.” Show your support of your favorite nonprofit in Giving, the magazine of philanthropy!

Healthy children, better future

ks to:

Special than

to Your guide

Publication Date: November 2

Advertising Deadline: October 2

s

focuse tive effort Collabora s od wellnes ho ild ch on

community

giving in the

y Lowcountr

| 2019-20

For advertising information, contact Grady Johnson at (843) 849-3103 or gjohnson@scbiznews.com

Viewpoint

VIEWS, PERSPECTIVES AND READERS’ LETTERS

South Carolina supports expressing breastmilk at work

F

ollowing the enactment of the S.C. Pregnancy Accommodations Act in 2018, which did not include language about breastfeeding or pumping, state Rep. Rosalyn Henderson-Myers, D-Spartanburg, sponsored and introduced in the House a slight partisan bill to expand the protection for employees to JOHN express breastmilk CONNELL in the workplace.

After undergoing amendments in the House and Senate, both chambers ultimately voted in favor of the bill. On June 25, 2020, South Carolina’s Governor Henry McMaster signed into law the S.C. Lactation Support Act — the “S.C. Lactation Act.” While the S.C. Lactation Act is not a

comprehensive piece of legislation at less than 600 words, it provides integral support and protection for employees needing time and a place to express breastmilk. More specifically, the S.C. Lactation Act requires employers to provide unpaid break time, or paid break time or mealtime, each day to express breast milk.

In addition, the S.C. Lactation Act requires that employers make reasonable efforts to provide a room or other location, other than a toilet stall, in proximity to the work area, for an employee to express milk in privacy. Importantly, however, the S.C. Lactation Act does not require employers to construct a permanent, dedicated space for expressing milk.

Federal law already provides some protections in this space, but there are some notable differences in the S.C. Lactation Act. Under federal law, employers are required to provide that break time for up to one year. However, employers are not required to provide reasonable

break time to exempt employees.

Similarly, under federal law, if the employer has fewer than 50 employees, employers are not required to provide reasonable break time to nonexempt employees, if doing so would create an undue hardship on the business.

The S.C. Lactation Act expands the scope of protections in several ways.

First, it applies to smaller employers: It requires that as long as an employer has one employee, that employee is afforded protection.

Second, it applies to all employees, and not simply nonexempt employees as under federal law.

Finally, there is no time limit on the employer’s obligations under the S.C. Lactation Act. The S.C. Lactation Act’s expanded protection will also afford many employees the ability to express breastmilk without fear of retaliation or discrimination.

Notably, the S.C. Lactation Act allows

employees to file a complaint with the S.C. Human Affairs Commission, the state agency charged with enforcing claims of discrimination, for any alleged violations of the law.

Therefore, employers need to be cognizant of the changing protections afforded to employees and be sure to maintain a workplace that is compliant with the S.C. Lactation Act. The Human Affairs Commission is required to post on its website information to educate employers, employees and employment agencies about their rights under this act by July 25. Employers will then have 30 days after the website post to comply with the new act.

CRBJ

John Connell is an employment lawyer in the Greenville office of Jackson Lewis P.C., focusing predominantly on employment litigation, particularly sexual harassment, discrimination, breach of contract, and wage and hour disputes. He can be reached at john.connell@jacksonlewis.com.

There’s no going back to the pre-pandemic economy

C

ongress so far has been focusing on trying to turn back the clock to February 2020: treating the economy as if it were Sleeping Beauty, merely needing to be awakened to be fully restored.

This strategy is a mistake. Congress needs to stop solely backing efforts to restore the old economic reality and STEVE focus on how to CASE develop a new one.

Most of the $1 trillion that Congress has put into business support so far during the pandemic has been directed to preserving existing firms through the Paycheck Protection Program and the Main Street Relief Fund.

Helping those businesses and their workers is vital, but that alone won’t fuel the economic recovery the country needs.

The problem is that many of the businesses backed by PPP or Main Street are going to wind up shutting down. Even when they aren’t facing a global pandemic or economic crisis, about 100,000 small and midsize businesses fail in the United States every year. New businesses will be needed to replace the ones that permanently close.

Moreover, the failure rate is likely to be higher, as many firms were on the wrong side of trends — such as the move to online shopping, convenient food delivery or watching streaming content at home — that the pandemic lockdown has accelerated.

Another consideration: The protests stirred by the killing of George Floyd in Minneapolis police custody have made clear how many Americans were left behind in the pre-coronavirus economy; restoring the way things were before the virus hit won’t address these needs.

Here are three ways Congress can help launch a new, more equitable era of entrepreneurship.

First: Make it easier for the earlieststage startups to receive PPP dollars and for all startups to access the Main Street Relief Fund. PPP loans go to existing businesses to maintain jobs but not to new businesses that want to create them.

Main Street loans go only to companies that are already profitable; most startups are not.

That approach is backward: Studies show that nearly all net new job creation comes from startups, not established businesses.

A PPP revision should allow startups to obtain loans based on their plans to create jobs — with loan forgiveness granted only if those jobs materialize. If they don’t, the startups should be required to

repay the loans before any other obligations. And the barrier in the Main Street lending program that makes businesses ineligible for aid if they were not profitable in 2019 should be removed.

Second: The government needs to be a counterweight to private capital that exacerbates geographic disparities in opportunity as the country responds to the crisis. The pandemic is a devastating tragedy, but adversity tends to be met by the creation of new industries and new businesses.

This crisis will stir innovations in medicine, goods and services delivered at home, remote work and learning, and more. Where will these new firms grow?

If the decision is left to the private sector alone, almost all of them will be in three states: New York, California and Massachusetts, which attract 75% of all venture capital.

Great ideas to respond to this crisis are spread widely across the country — but capital is not. Business assistance programs created by Congress should have a special focus on getting startups off the ground in places that have lacked venture capital backing in the past.

Sen. Amy Klobuchar, D-Minn., and others have already proposed such legislation; members of Congress from these neglected areas should insist it is part of any Phase 4 bill.

Finally, lawmakers should step in

to address unintended inequalities of opportunity for female and minority entrepreneurs caused by the earlier relief bills.

Because these programs fund only existing businesses, they reinforce opportunity gaps. Communities with thriving businesses get more PPP and Main Street aid; those that have lacked capital to get businesses off the ground in the past see little help now.

The solution would be for Congress to direct unused PPP funds to startups led by female entrepreneurs and entrepreneurs of color, creating opportunities where they have not existed before.

The Main Street Lending program could be modified to extend special debt options to community development groups and minority-focused accelerators to back a new wave of startups founded by historically underrepresented entrepreneurs.

There’s no going back to the pre-pandemic U.S. economy. Too much has changed; too many new needs exist.

This is a rare opportunity to break with the past and create a better future.

Congress should grab it.

CRBJ

This column originally ran in the Washington Post. Steve Case, a co-founder of America Online, is chairman and chief executive of Revolution and author of The Third Wave: An Entrepreneur’s Vision of the Future.

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