N o one had to bump a horn to urge Boeing through the green light.Just two days a er the FAA issued a statement saying deliveries of the North Charleston 787s could resume “in the coming days,” and a day a er Boeing remained mum on a speci c schedule, American Airlines has received a 787-8, according to a company statement and a message to employees from Stan Deal, president and CEO of Boeing Commercial Airplanes.“Wehave resumed 787 deliveries, following our thorough engineering analysis, veri cation and rework activities to ensure all airplanes conform to Boeing’s exacting speci cations and regulatory requirements,” the company statement said. “We remain committed to maintaining transparent discussions with our regulators, customers and suppliers to ensure we continue to deliver airplanes that meet all regulatory requirements and Boeing’s highest quality whetherCarolinasafetytorActingstandards.”FAAAdministra-BillyNolenmetwithFAAinspectorsinSouthonAug.4toheartheyweresatised
When the COVID-19 pandemic hit in early 2020, it plunged every segment of society into deep, uncharted waters. From hospitals and schools to factories, restaurants, grocery stores, o ces and private homes, everyone was faced with completely revamping the way they lived daily life in just a matter of days. State and local government leaders, health care providers, educators and business owners made life-altering decisions for thousands of people without any prior experience with a pandemic. For the past 18 months, a panel of experts from the Carolinas has been studying those responses and their results and trying to come up with ways to make the area’s response to the next pandemic more e ective. e South Carolina Institute of Medicine and Public Health partnered with the North Carolina Institute of Medicine to launch the Carolinas Pandemic Preparedness Taskforce in early 2021. More than 80 experts on the taskforce examined pandemic preparedness, response and recovery in both Carolinas. IMPH is a nonpartisan, nonpro t organization working to inform policy to improve health and health care in South Carolina. e initiative received funding and support from the Duke Endowment, the Kate B. Reynolds Charitable Trust, the BlueCross BlueShield of South Carolina Foundation and the N.C. Department of Health and Human Services. In mid-August, the task force released a detailed report, Lessons Learned from COVID-19, which o ers comprehensive 2021
lessonspandemicpinpointsReport INSIDE Upfront 2 SC Biz News Briefs 3 Best Advice 4 In MedicalFocus:& Health Care 13 List: Retirement Communities 18 At Work 20 Hot Properties 22 Viewpoint 23 Giving spirit Boeing donates another $1M to downtown museum. Page Slowing4 solar Report: industry growth in SC lagging behind region. Page Paying8 the piper Man sentenced for fraud in Daufuskie Island case. Page 6 All aboard Nonstop flights to West Coast arriving in November. Page 9 Joining forces Cancer centers at MUSC, Lexington Medical Center form partnership. Page 9 See BOEING, Page 6 See COVID LESSONS, Page 14 VOLUME 28 NUMBER 15 ■ CHARLESTONBUSINESS.COM AUGUST 22-SEPTEMBER 4, 2022 ■ $2.25Part of the network ATCHANGETOP Gibbons new director Power:EDof PAGE 20 Boeing delivered the first 787 since 2021 when a plane arrived at American Airlines on Aug. 10. (Photo/Provided) READY FOR TAKEOFF
By Ross Norton rnorton@scbiznews.com
By Christina Lee Knauss cknauss@scbiznews.com
Boeing makes first 787 delivery since
“We want to get more people from the community level involved as well, so during the next crisis, they are more informed about what is going on and can share the information with others.”
GreenvilleEngineering Charlestonwater.dential,Clemsonengineerthroughouttransportationtreatmenttheandallocationutivesaid.directorgrowth.”robustsinceIV,includingfurtherseySt.architectural,HHusseyinGreenville’s“TheGaystrengthensCEO“Having1985,andKevinHestrategyAnemployeesitedesign,TheSouthHusseyOther
BRIEFS | FACTS | STATEWIDE NEWS | BEST ADVICE The Killers Among Us Source: Centers for Disease Control and Prevention
Upfront
— Maya Pack, executive director, South Carolina Institute of Medicine and Public Health
The leading causes of death are topped by heart disease and cancer in the No. 1 and 2 spots respectively for South Carolina in 2020. COVID-19 was No. 3. The numbers were estimated using three-month totals. At the time 110.8 people were dying per 100,000 per quarter in the Palmetto State. Because of the up-and-down nature of the pandemic, the rate of COVID deaths has fluctuated constantly over the last two years. Accidents, chronic lower respiratory diseases, stroke and Alzheimer’s disease were ranked Nos. 4-7, with diabetes, chronic liver disease and kidney disease rounding out the top 10. Our biggest killer has been with us a long time, despite a better understanding of its causes. The CDC says heart disease is the leading cause of death for men, women and people of most racial and ethnic groups, costing about $229 billion each year according to a 2018 analysis. The price was measured in health care delivery, medicine and lost productivity.
FOLLOW US: ON RECORDTHE WEBSITE: @CRBJwww.CharlestonBusiness.com @CRBJnews facebook.com/CharlestonBusiness
The South Carolina native is from Scranton. He is a licensed professional engineer in the state with a Bachelor of Science in Civil Engineering from ClemsonHusseyUniversity.GayBell caters to seven core markets — commercial and residential, education, government, health care, industrial, transportation and water. Other offices are in Savannah, Atlanta, Statesboro and Blue Ridge, Ga.; Charleston and Columbia; and Nashville, Tenn CRBJ
Still spinning SO Tax evasion alleged at several Upstate stores Report:
to
GSABusiness.com
GREENVILLE GSA Business Report ColumbiaBusinessReport.com With publications in Charleston, Columbia and the Upstate, as well as a statewide magazine, SC Biz News covers the pulse of business across South Carolina. Above are excerpts from our other publications. SCBIZmag.com Flipping the script SC solar lag behind hemp next
H ussey Gay Bell has chosen Greenville for the firm’s eighth location.
The privately held company is an ENR Top 500/Top Southeast Design Firm and a regional provider of professional engineering, architectural, planning and survey services. Hussey Gay Bell’s new office is in the Falls Place development at 531 S. Main St. in Greenville’s West End Historic District overlooking Falls Park.
Engineering firm chooses Greenville for 8th SC location
jobs
level changingHydroponicscropproduction GOING VERTICAL JULY/AUGUSTSCBIZNEWS.COM Check out the 10 best Melinda Waldrop anticipatedA next spring, Kinart-Short most historic tax credits helping fund but unable ANTICIPATIONBUILDING Main HelpLandmarkattractionleavingwanted Peak Drift eyes spring opening as design details come together Hussey Gay Bell’s eighth office overlooks the Reedy River in Greenville. (Photo/NAI Earle Furman) SEPTEMBER 5 GROWTH REPORT: MADE IN SC (STATEWIDE) List: Largest Manufacturers Special Section: Forty Under 40 Advertising Deadline: August 22 SEPTEMBER 19 RESIDENTIAL REAL ESTATE List: Residential Real Estate Firms Bonus List: Independent Insurance Cos. Advertising Deadline: September 5 OCTOBER 3 EDUCATION AND DEVELOPMENTWORKFORCE List: Postgraduate Degree Programs Bonus List: Private Schools Advertising Deadline: September 19 OCTOBER 17 ARCHITECTURE, ENGINEERING AND CONSTRUCTION (AEC) List: General Contractors Advertising Deadline: October 3 For advertising information, call Rick Jenkins at 864-720-1224 Target your market in an upcoming issue of the Charleston Regional Business Journal
www.charlestonbusiness.com 3August 22-September 4, 2022 SC Biz News Briefs
An employee of Hussey Gay Bell since 2015, Strickland is an engineering and site development veteran with more than 30 years of experience including the design, planning, permitting and project management of water/wastewater treatment plants, wastewater collection systems, water distribution systems, transportation systems and site development for public and private clients throughout the Carolinas.
“The addition of our Greenville office marks an exciting time here at Hussey Gay Bell and enhances our ability to service existing Upstate clientele and further strengthens the firm’s regional brand presence in core market segments including industrial, commercial, residential and water/sewer,” G. Holmes Bell IV, CEO and chairman, said in a news release.
“Having been in continuous operation in the Midlands and Lowcountry since 1985, it’s long been recognized that the Upstate region of the state is robust and continues to thrive and we look forward to being a part of that growth.”Kevin Strickland will oversee the Greenville office, serving as the managing director for both the firm’s Columbia and Greenville operations, the release said. He will be responsible for the overall management of operations, executive strategy development and execution, contractual negotiations, resource allocation and client management.
Southeastern neighbors TRENDGROWING Farm taking
INSIDE
Boeing donates another $1 million to IAAM
The entire contents of this newspaper are copyright by NWS Company LLC with all rights reserved. Any reproduction or use of the content within this publication without permission is prohibited. SCBIZ and South Carolina’s Media Engine for Economic Growth are registered in the U.S. Patent and Trademark O ice.
The International African American Museum will welcome its first visitors on Jan. 21, 2023. The Boeing Co. donated $1 million to the museum this month, bringing its total support of the museum in downtown Charleston to $2 million. (Photo/Ellis Creek Photography) Thomas, executive editor
CRBJ Reach Jason Thomas at 864-568-7570.
Jason
jthomas@scbiznews.com • 864.568.7570 Ross Norton, managing editor-content rnorton@scbiznews.com • 864.720.1222 Melinda managingWaldrop,editor-production mwaldrop@scbiznews.com • 803.726.7542 Christina Lee Knauss, sta writer cknauss@scbiznews.com • 803.753.4327 Paige Wills, research specialist pwills@scbiznews.com • 843.849.3125 Steve McDaniel, editor, Custom Publishing Division smcdaniel@scbiznews.com • 843.849.3121 Rick Jenkins, group publisher rjenkins@scbiznews.com • 864.720.1224 Karl Krull, business development director kkrull@scbiznews.com • 843.849.3143 Account Executives Ryan Downing, senior account executive rdowning@scbiznews.com • 864.720.1221 Amanda multimediaAlford,account executive aalford@bridgetowermedia.com • 864.720.1223 Shannon multimediaPollard,account executive spollard@scbiznews.com • 843.804.6094 Tony Rossi, multimedia account executive trossi@scbiznews.com • 864.720.1974 Jim multimediaWheeler,account executive jwheeler@scbiznews.com • 843.849.3104 KimEventsMcManus, events manager kmcmanus@scbiznews.com • 843.849.3116 Lauren Medders, event manager/manufacturing conference lmedders@scbiznews.com • 864.720.1220 Accounting ar@bridgetowermedia.com Subscription Services service@bridgetowermedia.com • 877.615.9536 Custom Media Division Ryan directorWilcox,ofresearch operations rwilcox@bridgetowermedia.com • 843.849.3117 South Carolina’s Media Engine for Economic Growth
NWS Company LLC A portfolio company of BridgeTower Media Charleston Regional Business Journal (USPS 18822) is published twice a month except January which has one issue and February, which has one additional annual issue, 24 times per year by SC Biz News, 3265 North Carolina Ave., Suite 101, North Charleston, SC 29405. Periodicals postage paid at Charleston, SC. Mailing address: 3265 North Carolina Ave., Suite 101 North Charleston, SC 29405 Postmaster: Send address changes to: Subscription Services PO Box 1051 Williamsport, PA 17703-9940
By Jason Thomas jthomas@scbiznews.com T he International African American Museum has received an additional $1 million donation from The Boeing Co. e contribution will help underserved children experience the educational aspects of the museum during its opening year while also helping to support the organization’s broader mission and operations, an IAAM news release stated.is most recent gi brings Boeing’s total giving in support of the museum to $2 million, according to the release. Boeing was the rst corporate donor to the museum in 2011. In June, the IAAM announced it would open on Jan. 21, 2023. Boeing’s donation, in part, will make it possible for IAAM to work with partners to allow children and their families the chance to experience the museum free of cost, the release stated. e museum seeks to honor the untold stories of the African American journey by educating visitors about the realities of the international slave trade and plantation life.eIAAM also explores the cultures and knowledge systems retained and adapted by Africans in the Americas that have been in uential across South Carolina, the United States, and the African Diaspora. “Our ability to ensure that every young person has unfettered access to the museum is one of our top priorities. I’m excited to continue our partnership with Boeing in such a meaningful way,” Tonya M. Matthews, president and CEO of IAAM, said in the release. “With this support, we have the opportunity to meet one of our critical goals, reaching youth from all walks of life. We’re so grateful to our partners at Boeing for their generosity and continued support.”
4 www.charlestonbusiness.com August 22-September 4, 2022
SUBSCRIPTION INFORMATION Annual subscribers receive the Business Journal including the Book of Lists and Newsmakers, plus four special supplements: Profiles in Business, Event Planning Guide, Market Facts and Giving. One year for $67.00 Two years for $97.00 Subscribe, renew and change your address online at www.charlestonbusiness.com or call 877-615-9536.
is past April, representatives from Boeing — including Ziad Ojakli, executive vice president of Government Operations — had visited the future home of the IAAM, in which the group gained a better understanding of the exhibitions and transformational storytelling that youth will experience, the release stated. “At Boeing, advancing racial equity is a key pillar of our community engagement work, and we believe in the International African American Museum’s mission to unlock and honor the untold stories of the African American journey and South Carolina’s history,” Ojakli said in the release. “We are proud to support the museum’s e orts to share those stories with thousands of students. As an active and engaged member of the South Carolina community, we are grateful to IAAM for their partnership, and we look forward to seeing these exhibits and experiences bring these important and impactful stories to life.”
22-September 4, 2022 www.charlestonbusiness.com 5August 22-September 4, 2022 copyright withoutreproductionbypermisMedia Engine Patent and
6 www.charlestonbusiness.com August 22-September 4, 2022 with the actions Boeing has taken since deliveries ground to a halt in 2021 as the company and agency addressed safety concerns over tiny gaps, about the width of a human hair, found between sections of the fuselage. e FAA greenlight was announced four days later, Aug. 8. “Today we resumed 787 deliveries as American Airlines received a 787-8,” Deal said in his message to employees. “ is milestone would not be possible without the hard work, dedication and perseverance of so many of you. ank you for how you’ve demonstrated our shared values throughout this process.” He went on to say: “Let’s re ect on our values and commitments to our customers, regulator and the ying public. Every action and decision in uences our customers’ trust in Boeing — we build trust one airplane at a time.
BOEING, from Page 1 By Ross Norton rnorton@scbiznews.com
Regarding the tax fraud charge, Bramlette was required to collect and pay federal payroll taxes from the wages of all employees at Melrose Resort. Bramlette collected payroll taxes from the employees, but he failed to turn over those taxes to the IRS, the release said. In total, Bramlette failed to turn over to the IRS approximately $1 million in payroll taxes.
… Resuming deliveries is a beginning. I look forward to many more as we continue to focus on safety, quality and stability.”Boeing continued producing the planes while deliveries were suspended. e company has maintained that none of the issues were an immediate safety-of- ight concern for the in-service eeet.787 was the most-utilized widebody through the pandemic due to its fuel-e ciency and versatility, the company said. Several airlines used the 787 for cargo-only ights. Robert Isom, CEO and chief recruitment o cer at American Airlines, acknowledged receipt of the plane on his Instagram account, saying it was the rst 787-7 received since April 2021 but the rst of nine the airline expects to receive this year.
CRBJ Reach Ross Norton at 864-720-1222.
Man sentenced in Daufuskie fraud case
A Utah man has been sentenced to more than five years in federal prison for the part prosecutors say he played in a fraud scheme involving Daufuskie Island Resort. James Thomas Bramlette, 42, of Salt Lake City, Utah, was sentenced after pleading guilty to wire and tax fraud, according to a news release from the U.S. Attorney’s Office. U.S. District Judge Richard M. Gergel sentenced Bramlette to 63 months in federal prison, to be followed by a three-year term of court-ordered supervision. There is no parole in the federal system. In evidence presented to the court, the U.S. Attorney’s Office said Bramlette and others raised more than $10 million from investors to develop Melrose Resort on Daufuskie Island, knowing the resort was in “dire financial condition” and subject to foreclosure by the original lender, the news releaseBramlettesaid. and what the news release called his “co-conspirators” repeatedly told investors their funds were being used to develop the resort when the funds were actually used to pay the original lender not to foreclose, pay previous investors, and to pay employees, utilities and taxes at the resort, the release stated. Bramlette also used at least $1.8 million from investors for personal use and to live a “lavish lifestyle.”“Mr. Bramlette’s prison sentence reflects the seriousness of his offense and the United States Attorney’s Office’s dedication to deterring fraud,” U.S. Attorney Adair F. Boroughs said in the release. “This office will continue to prosecute those who cheat their fellow citizens and steal federal taxAccordingdollars.” to the U.S. Attorney’s Office, in September 2016 Melrose Resort owed more than $500,000 in past due property taxes. The Beaufort County Treasurer’s Office notified Bramlette that the resort would be auctioned at a tax sale if the property taxes were not paid, the release said, and in order to prevent the resort from being sold at the tax sale, Bramlette created a fake wire receipt that falsely stated that Melrose Resort had wired money to the Beaufort County Treasurer’s Office to pay the property taxes.“Instead of being truthful about the continued financial problems at Melrose Resort, Bramlette defrauded investors and misled others who had interests in the property,” Susan Ferensic, special agent in charge of the FBI Columbia field office, said in the release. “With this sentence, he will pay the consequences in prison and will no longer be able to continue his lavish lifestyle at the expense of those who put their trust in him.”
The CEO of the first company to receive a 787 since early 2021, American Airlines’ Robert Isom, said he expects to receive eight more this year. (Photo/Boeing)
CRBJ Reach Ross Norton at 864-720-1222.
“Employment tax evasion results in the loss of tax revenue to the United States government,” said the news release, quoting Donald “Trey” Eakins, IRS special agent in charge, Charlotte eld o ce. “Failure to pay over withheld taxes is a serious o ense. Corporate executives have a responsibility to withhold income taxes for their employees and then remit those taxes to the AssistantIRS.”U.S. Attorney Amy Bower prosecuted the case. Information about others accused in the case was not made available.
By Ross Norton rnorton@scbiznews.com
Mount Pleasant’s SAVI Cucina + Wine Bar has named Chef Michael Semancik and Chef Jordan Aldrich as SAVI’s new culinary director and executive chef. e duo will work together to elevate and expand the restaurant’s award-winning culinary program, grow and educate their culinary team and positively impact the SAVI culture, according to a news release. Culinary Director Semancik joins the SAVI team with 25 years of industry experience. He has previously served as the executive chef of several establishments such as e Dewberry Hotel in Charleston, Emmaline in Houston, Texas, and e Mansion at Forsyth Park in Savannah. He was a partner in Atlanta restaurant SCOUT and also spent time providing his services as a restaurant consultant for Bill Murray’s group of restaurants in Charleston. Semancik said in the news release he is excited to work closely with Executive Chef Aldrich, to put their unique spin on the SAVI menu. Aldrich started his culinary career and love for being in the kitchen working at his parents’ restaurant in Pennsylvania. A er moving to the South, he worked at the Kiawah Island Club and Purlieu before joining SAVI.
New chefs ready to make their mark at SAVI
“With Semancik and Aldrich at the helm, guests can look forward to the delicious coastal and classic Italian dishes SAVI is known for, but with some new and exciting twists that honor each season, all composed with fresh, hyperlocal ingredients,” the news release stated. SAVI Cucina + Wine Bar is in Mount Pleasant Towne Centre. CRBJ Reach Ross Norton at 864-720-1222.
22-September 4, 2022 www.charlestonbusiness.com 7August 22-September 4, 2022
• Palmetto Blu , a 20,000-acre private residential club and resort community in Blu on, just north of Savannah, featuring 32 miles of river frontage, a 5-star 200-key Montage Hotel, the Palmetto Blu Club and May River Golf Club, Palmetto Blu Realty and entitled land for approximately 2,500 additional residences.
• Kiawah Partners, a portfolio of real estate and operating assets including much of the remaining residential land on Kiawah Island, a 10,000-acre resort community o the coast of Charleston, featuring 10-miles of beachfront, the Kiawah Island Club, Kiawah Island Real Estate, the island’s dominant residential brokerage, and Two Meeting Street Inn, a 130-yearold bed-and-breakfast located South of Broad in Charleston. e fund secured commitments from a range of limited partners including family o ces, registered investment advisers, wealth management rms, funds of funds and high-net-worth investors through an oversubscribed fundraising process. “As a former fund-less sponsor raising capital on a deal-by-deal basis, reaching the closing of our inaugural U.S. discretionary commingled fund is a major achievement,” partner Chris Randolph said in the release. “Raising this fund through the pandemic certainly created challenges but we are honored by the outsized investor demand the fund received, which we believe is not only related to compelling opportunities that we are seeing but also the reputation and track record we’ve built over the past 13 years.”SouthStreet Partners says the fund seeks to generate attractive risk-adjusted returns for its limited partners by sourcing acquisition opportunities through a network of owners, advisers, managers and developers of real estate created over decades of operational and investment experience; acquiring properties at attractive prices, usually as a result of distress or underperformance at the asset level, improper capitalization, or unique management or ownership dynamics which limit a seller’s ability to e ectively bring the asset to market; instituting and managing a repositioning or redevelopment program; and adding value through hands-on asset management through in house operational expertise. “ e current environment and demographic trends in our markets of focus create signi cant opportunities for the fund’s investment strategy,” Patrick Melton, co-founder and managing partner of South Street, said in the release. “We believe our history of sourcing and executing a wide range of complicated transactions throughout various stages of the market cycle while providing excellent returns to our investors over the last decade is one of the main reasons investor appetite was so strong.”
Palmetto Bluff was one of South Street Partners’ investments. The private equity real estate firm headquarted in Charleston and Charlotte closed SSP GP Fund I on July 27. (Photo/South Street Partners)
By Ross Norton rnorton@scbiznews.com
South Street Partners closes fund at more than $225M
South Street Partners, a private equity real estate investment firm headquartered in Charlotte and Charleston, closed SSP GP Fund I on July 27. The firm’s inaugural discretionary commingled fund raised more than $225 million, easily exceeding an original target of $100 million, according to a news release. e fund was formed to continue South Street’s strategy of executing on opportunistic, value added and special situation investment opportunities in real estate assets located in the Southeast and other select U.S. and international markets, the news release said. e fund’s GP structure enables South Street to scale its 13-year strategy of partnering with institutional investment rms on large cap transactions as well as to pursue small and mid-cap deals utilizing the fund’s balance sheet. In addition, the rm expects to generate co-investment opportunities for its limited partners, the release said. e fund could provide South Street with as much as $2.25 billion of unlevered buying power via these partnerships and co-investment vehicles, the company speculated.e fund can invest across a spectrum of real estate asset classes but will primarily focus on upscale and luxury resort and residential opportunities. Its rst two investments were:
Since its founding in 2009, South Street has executed trades that include North Beach Towers, Kiawah Partners, Doonbeg, Christophe Harbour, e Cli s Communities, e Residences at Salamander and Palmetto Blu . CRBJ Reach Ross Norton at 864-720-1222
8 www.charlestonbusiness.com August 22-September 4, 2022
Installation and project management make up 66% of solar jobs, as most manufacturers within the sector remain overseas.FirstSolar, which has a distribution hub located near Greer’s Inland Port, may be one of the few exceptions with its recent $680 million investment in an Ohio facility slated to become the largest vertically integrated solar manufacturing complex outside of China, according to the company. When First Solar announced plans to open a 450,000-square-foot facility in Greer in 2020, the company expected to move 7,000 containers each year through the Port of Charleston. “ ere is potential for unprecedented job growth in the coming years if federal, state and local leaders take action to expand clean energy use and address climate change,” Sherwood said in the announcement.Togrow,however, the industry needs a growing workforce. More than 89% of more than 7,500 rms surveyed by the report noted that they had di culty nding quali ed applicants; 35% reported that the hunt for talent was “very di cult.” Respondents attributed the bottleneck to small applicant pools, competition and a lack of the experience, training or technical skills needed for the job.
Over the past decade, employment in the nation’s solar sector more than doubled from 2020 to 2021 and grew by 9% in South Carolina. Despite job growth on par with the national average, South Carolina’s solar sector has neither the existing workforce nor growth rate of its neighbors to the north or south, according to a July 2022 report from the Interstate Renewable Energy Council. In 2021, the Palmetto State’s solar industry saw a 9.4% increase, or 291 additional positions, from the 3,086 jobs in 2020. South Carolina’s solar industry is the 24th largest in the country in terms of workforce size, according to the report. Georgia and Florida continue to be industry leaders in the Southeast with respective 5,314 jobs (19% growth yearover-year) and 11,761 jobs (4.5% growth year-over-year) with the nation’s 14th and second largest solar sectors. North Carolina saw a 14.3% increase between 2020 and 2021 to 6,978 jobs, making the state’s solar sector the 10th largest. And while Alabama has one of the smallest solar workforces in the nation, it also has the fastest growing at 43.3%, or, in other terms, 208 additional jobs. “America’s solar industry came back strong from the pandemic to expand the clean energy workforce across all regions of the country,” Larry Sherwood, president and CEO at the Interstate Renewable Energy Council, said in the report announcement. “ e future remains uncertain in light of the supply chain disruptions, trade issues and stalled federal policy in the rst part of Installation2022.” and product development remain the most bullish segments of the solar industry, according to the report, with almost 247% growth since 2011. Over the past two years, Anderson, Orangeburg, Clarendon and Florence Counties have become solar hotspots with the installation of a 500-acre SolarGen farm in Alcolu, a 600-acre array owned by Anderson Solar Farm LLC and Cypress Creek Renewable’s $68 million solar project also based in Anderson—to name a few.
CRBJ SC solar jobs lag behind Southeastern neighbors
A solar field at Clemson University doubles as a shady parking spot. A July 2022 report found that S.C.’s solar industry is not growing as quickly as in neighboring states. (Photo/Ross Norton)
A small solar farm at Clemson University was built with panels high enough off the ground to double as shady parking for vehicles. (Photo/Ross Norton)
By Molly Hulsey gsanews@scbiznews.com
Ticket Sales Are Open Now! FORT Y Purchase tickets here: bit.ly/crbj22fortytix Hosted by: Sponsored by:Presented by: For event sponsorship information, contact Rick Jenkins at (864) 720-1224 or rjenkins@scbiznews.com. Event Date: September 15th, 2022 • 6:00 p.m. to 9:00 p.m. Scan for more information! FORT Y Celebrate the “Who’s Who” of the Charleston business community This elite 40 comprises people under the age of 40 who have excelled in the professional arena and in community involvement. Join us as we honor the best and brightest young professionals in the Lowcountry!
Palmetto Goodwill has filled a newly created executive position. Elliott Smalley is the new chief of mission and marketing o cer with the organization.Smalleyis a familiar face at Palmetto Goodwill, having served as the project manager of a new adult education enterprise, e Palmetto Excel Center, for the last 10 months, a Palmetto Goodwill news release stated. He has worked with the Palmetto Excel Board, the PG Board, and a diverse planning committee of community leaders to move years of discussion and planning into tangible results with a clear plan for opening in 2023, according to the release. Smalley led the group’s e orts to secure approval for a charter school, creating a path for adults over the age of 21 to earn high school diplomas and laying the groundwork state funding for the school. “I welcome Elliot to our team and look forward to him helping us achieve excellence and drive impact in our community,” Brian Itzkowitz, president, and CEO, said in the release. “Working with both Palmetto Excel and Palmetto Goodwill over the last 10 months, Elliot has gotten the ‘Goodwill Burn’ and believes deeply that everyone deserves the opportunity to thrive. He has a passion for equity, community, and making a di erence, which you can see in his background in education and communications. “He is excited about joining a team that helps people lead the lives they want to lead, and see their lives change through education, training, and employment.” Smalley previously served as the deputy superintendent of strategy and communications for the Charleston County School District, the chief of sta and communications at the Achievement School District in Tennessee, and as superintendent of the South Carolina Public Charter School District, according to the Smalleyrelease.hasmore than 20 years of experience working in public education. “I am excited to join the Palmetto Goodwill team and to get behind the mission of helping people reach their full potential through the dignity and power of work,” Smalley said in the release.
By Ross Norton rnorton@scbiznews.com
22-September 4, 2022 www.charlestonbusiness.com 9August 22-September 4, 2022
neighbors
MUSC inks deal with technology company
The Zucker Institute for Innovation Commercialization, a technology accelerator and component of the Office of Innovation at the Medical University of South Carolina, and Blinkcns Inc. have entered into a strategic, exclusive licensing agreement to advance a novel blink reflex technology and software known as EyeStat. is agreement was executed while the institute was operating as the Zucker Institute for Applied Neurosciences. According to a news release from MUSC, EyeStat is poised to make a profound impact on patients, speci cally those with neurological diseases and conditions. Central nervous system diseases are di cult to monitor and track, as many gold-standard devices are either outdated, costly or unreliable, the release said. e EyeStat series of capture devices by Blinkcns allows for a small stimulus of either carbon dioxide, light ash or audio prompt to trigger the blink re ex and allow for real-time data collection and analysis.Because the captured data resides in the cloud and is also examined there by arti cial intelligence, advanced research is underway on the utility of using other capture devices, such as an iPhone or iPad, the news release said. “Blinkcns has realized great growth since its inception in 2017,” Je Riley, executive chairman of Blinkcns, said in the release. “ anks to the trust of the Zucker Institute, we’ve taken a new step to accelerate that growth. We are delighted to have established this new licensing agreement, which represents signi cant clinical potential for our technology. e Zucker Institute’s team, history of innovation and technical expertise are of a high standard.”Blinkcns, based in Charleston, is a medical device company that is researching solutions for migraine headaches, Parkinson’s disease and Alzheimer’s disease, according to its website. “It is especially exciting to see MUSC technologies licensed and commercialized by ‘home-grown’ biotech companies in Charleston,” Michael Yost, interim CEO of the Zucker Institute, said in the release. “ is partnership gives us a really nice platform for collaborating even more deeply with the Blinkcns team to better the lives of people around South Carolina, the United States and the world.” CRBJ Reach Ross Norton at 864-720-1222.
By Jason Thomas jthomas@sciznews.com
CRBJ Reach Jason Thomas at 864-568-7570.
Former school superintendent joins Palmetto Goodwill’s executive team
Christina Lee Knauss is the new staff writer for SC Biz News. She started with the publication on June 27 and is based in the Columbia office. Knauss is a veteran journalist who has lived in Columbia most of her life. She has written for e Myrtle Beach (S.C.) Sun News, e State Catholic(Columbia,NewspaperS.C.),eMiscellany (Charleston, S.C.), and other local, regional and national publications. She has won numerous awards from the S.C. Press Association and the Catholic Media Association. Knauss has a B.A. in Liberal Arts with a concentration in literature and history from Sarah Lawrence College in Bronxville,“ChristinaN.Y. freelanced for us before becoming a full-timer, so we were well aware of her talent,” Jason omas, SC Biz News executive editor, said. “Her knowledge and familiarity of the South Carolina business landscape — Columbia’s in particular — has already enhanced SC Biz News’ coverage. Christina’s award-winning background and versatile skillset as a journalist will help ensure that SC Biz News remains the market leader in business publishing in the PalmettoroughoutState.”her career, Knauss has written about a wide variety of topics, including arts and music, public safety and law enforcement, and religion. She rst started contributing to the Business Report in 2018 and is excited to join the publication as a full-time reporter. As a long-time resident of Columbia, she has seen the rapid pace of change in the capital city and is excited to report on its growth and evolution. When she isn’t working, her interests include reading, genealogy, history, working out, nature, cat rescue and rooting for Pittsburgh sports teams.
CRBJ
SC Biz adds veteran journalist Knauss “Christina’s awardwinning background and versatile skillset as a journalist will help ensure that SC Biz News remains the market leader in business publishing in the Palmetto State.”
The Governor’s House at 117 Broad St., listed at $7.5 million, has sold. Handsome Properties respresented the buyer and seller of the property. (Photo/Provided) Knauss
The Governor’s House sells, listed at $7.5 million
10 www.charlestonbusiness.com August 22-September 4, 2022
Staff Report
Jason Thomas Executive editor, SC Biz News
By Ross Norton rnoton@scbiznews.com
Luxury real estate firm Handsome Properties represented the buyer and seller in the sale of The Governor’s House at 117 Broad St. in Charleston, listed for $7,495,000. Deborah C. Fisher, Handsome Properties broker-in-charge held the listing while Handsome Properties agent John Payne represented the buyer. Edward Rutledge, a signer of the Declaration of Independence, lived in the Georgian-style mansion from 1763 until his death in 1800, according to a news release. Rutledge also served as South Carolina’s 10th governor.eGovernor’s House was built in 1760 by James Laurens, brother to the president of the second Continental Congress, Henry Laurens. His son, John Laurens, served as aide-de-camp to President George Washington and was a close friend to Alexander Hamilton, the news release said. Sitting on a half acre just outside the original walled city, on the site of the former Charleston Orange Garden, the house has been altered and added onto since original construction. e house is listed on the National Register of Historic Places. In 1972 the home was declared a National Historic Landmark by the United States Department of the Interior. Original details are found throughout, including heart of pine oors, detailed moldings, six wood-burning replaces, a gas log replace in the piano room, triple hung nine-foot windows, and 12-foot ceilings. e mansion and kitchen house currently serve as an 11-room historic inn with an innkeeper’s studio. “ is grand estate is one of a kind and showcases the beautiful preservation of our historic city,” Deborah C. Fisher, Handsome Properties broker in charge, said in the news release. “It was a pleasure to work with John on the sale of e Governor’s House; he did a great job representing his client for a seamless transaction.” e property sold for $5.3 million in 2015, according to reports at the time. CRBJ Reach Ross Norton at 864-720-1222.
PUBLICATION DATE: NOVEMBER 28, 2022 ADVERTISING DEADLINE: OCTOBER 24, 2022 Your invitation to opportunity. CALL TODAY TO RESERVE YOUR SPACE. Contact
On July 27, Natalia Sokil was charged for the third day in a row for charges related to operating European Market stores, this one in Anderson. (Photo/Ross Norton) Amanda Alford at 843-849-3109
or aalford@bridgetowermedia.com. The Business Journal’s Event Planning Guide has always been a must-have for companies and event planners in the Lowcountry. Packed with in-depth articles, handy tips and lists of local resources, it’s an invaluable guide for anyone planning conferences, nonpro t fundraisers, weddings, reunions and more. remains contributingreligion.publishingtheinKnausshasoftopics,publicsafetytotheisexcitedfull-timeresidentofrapidpaceofexcitedtoevolution.interestshistory,rescueandteams. CRBJ
22-September 4, 2022 www.charlestonbusiness.com 11August 22-September 4, 2022
Tax evasion alleged at several Upstate stores
By Ross Norton rnorton@scbiznews.com S.C. Department of Revenue agents in late July arrested a North Carolina couple and charged them with tax evasion and failure to file a state tax return or pay a tax related to businesses they operated in Spartanburg, Greenville and Anderson counties.Natalia Sokil, 46, of Tryon, N.C., was the owner and operator of ESF Management, doing business as European Market LLC, in Spartanburg County. e specialty grocery store had multiple locations in other Upstate counties as well. Andrej Sokil, 54, also of Tryon, worked and lived in Spartanburg during the time under investigation, according to a news release from the RevenueInDepartment.2017and2018, the couple led joint Individual Income Tax returns but failed to include her business income of $2,707,322, the department alleges. e couple owed $19,010 in state taxes for tax years 2017 and 2018. ey also failed to le returns for tax years 2019 and 2020, during which an investigation found they had taxable income of $1.4 million, the news release said. ey owe state taxes of $29,409 for tax years 2019 and 2020.Natalia Sokil also was charged with two counts of operating without a retail license. Warrants allege agents purchased items at two Inman stores in January 2021 and sales tax was charged, though the business did not have a valid license, according to the release. She previously was convicted of operating without a retail license in Lexington in 2021. According to an earlier report, she was ordered by the Revenue Department to close that store, also a European Market. If convicted, each defendant faces a maximum sentence of ve years in prison and a ne of up to $10,000, plus the cost of prosecution, for each count of tax evasion; and one year and a ne of up to $10,000 for each count of failure to le, plus the cost of prosecution. Natalia Sokil faces a maximum sentence of 30 days in jail or a ne of $200, or both, plus the cost of prosecution for each count of operating without a retail license. Both defendants on July 25 were being held in the Spartanburg County Detention Center pending a bond hearing. On July 26, Natalia Sokil was charged and arrested for the same o ense in Greenville County. On July 27 she was arrested in Anderson County for the same charges related to the European Market on E. Greenville St.e Revenue Department encourages anyone who knows or suspects a person or business that has committed a state tax crime to contact them at criminalinvestigation@dor.sc.gov or to ll out a Tax Violation Complaint Form and mail it to S.C. Department of Revenue, Attn: Fraud Adviser, 2070 Northbrook Blvd, Suite B7, North Charleston, S.C., 29406. CRBJ Reach Ross Norton at 864-720-1222.
12 www.charlestonbusiness.com August 22-September 4, 2022 2022 | SO UTH CAROLINA MA NUFACTURIN G CONFERENCE AND EX PO GREENVILLE CONVENTION CENTER | GREENVILLE, SC To view the agenda and to register, visit www.scmanufacturingconference.com SAVE THE DATE: NOV. 3 - NOV. 4 Join Manufacturing suppliers and innovators across all industry verticals at South Carolina’s most significant manufacturing event of the year. The 2022 conference will include: • An exhibit hall the equivalent of three football fields • Implementing Industry 4.0 Technology • 2023 Economic Outlook: Auto, Aerospace, Biotech • Women in Manufacturing: Leaders and Influencers • SCMEP Manufacturing Excellence Awards • The South Carolina Manufacturing Extension Partnership (SCMEP) will conduct training courses PRESENTED BY: PRESENTING SPONSORS: For questions about exhibiting or sponsorship opportunities, please contact Rick Jenkins at (864) 720-1224 or rjenkins@scbiznews.com Visit scmanufacturingconference.com for the latest updates.
See HEALTH CARE CONCIERGE, Page 17
On-demand doctors: Concierge medicine new health care model
Would you pay approximately $1,800 every year out-ofpocket for 24/7 access to your primary care doctor — with their personal cell phone number on speed dial and their medical expertise on demand?
By Jenny Peterson Contributing Writer
Concierge medicine offers 24-hour access to physicians from a patient’s home for an annual fee. The market saw a 10.3% jump in 2020, according to research. (Ilustration/File)
at’s the question many primary care doctors across the country and in South Carolina are asking their patients as they move into concierge medicine, a new model in health care that gives patients full access to doctors for one annual fee.
Patient-members can call or send a text to their doctor any time of the day or night with a health-related question or schedule an appointment that same day, guaranteed. O ce visits are a minimum of 30 minutes. Concierge medicine, also known as retainer medicine, allows doctors to have signi cantly lower patient numbers without taking a hit to their operating costs. With concierge medicine, doctor’s o ces still le health insurance for patients. e retainer fee covers the gap to be able to operate with less patients and ensure doctors still make money. e COVID-19 pandemic was a boon for the concierge medicine market; U.S. concierge medicine experienced a 10.3% year-on-year growth rate in 2020, according to a market report from Grand View Research. Nearly a quarter of the physicians within the concierge medicine reported higher revenues in 2020 than the previous year. e largest concierge medicine consulting company in the country, MDVIP, reports that the annual membership for patients averages between $1,650-$1,800 and can be paid from Health Savings Accounts and Flexible Spending Accounts. at fee includes all-access care for a member and member’s child under 25 years old. A spouse can be added for an additional fee. MDVIP executives say the majority of patient members are between 50 to 80 years old. Improved work-life balance Doctors say concierge medicine improves their work-life balance and increases time and attention given to patients. It also allows independent doctors to refer patients to any specialist without being beholden to health care systems.
22-September 4, 2022 In Focus MEDICAL & HEALTH CARE LIST: RETIREMENT COMMUNITIES, Page 18
“Overall, everybody through the pandemic did the best they could, and our overall message is that public health o cials are making the best decisions they can with the information they have,” Pack said. “We want to get more people from the community level involved as well, so during the next crisis, they are more informed about what is going on and can share the information with others.”
14 www.charlestonbusiness.com August 22-September 4, 2022IN FOCUS: MEDICAL & HEALTH CARE
CRBJ Illustration/File COVID LESSONS, from Page 1
Workforce development: South Carolina faced a shortage of nurses and other health care workers before the pandemic, and that has been exacerbated by some workers leaving the eld because of the stress. To address this, the task force calls for more mental health support for existing health workers, including developing e ective ways to address burnout. e report also suggests a structured process to guide students interested in nursing to smaller programs around the state if classes at larger universities are unavailable, and to look at ways to place health care students and residents more e ectively in areas where there are workforce shortages. Supply chain: Pandemic-fueled disruptions in the supply chain have a ected everything from computer chips to canned cat food, but periodic shortages of health care supplies, especially personal protective equipment, was especially concerning to health care workers. e task force advises leaders to develop guidelines that specify how much PPE should be stockpiled to ensure adequate access statewide during the next health emergency. e report also calls on the state to work on ways to make food more readily available to those in need and loosen procurement restrictions that make it more di cult to get some needed health supplies. Internet access: With everything from school classes to doctors’ appointments going virtual during the pandemic, broadband internet access became more of a necessity than ever, especially because the internet also o ered crucial information about dealing with the virus itself. Access is a problem for many in the state however, with a September 2021 report listing South Carolina as one of the 10 states with lowest broadband adoption among low-income households. As of March 31, statistics show 7.6% of South Carolinians in general and 7.1% of public K-12 students do not have access to highspeedStateservices.lawmakers have already passed legislation to get the ball rolling on expanding access, an e ort coordinated by the South Carolina Broadband O ce. “ e good news is that the state has a plan to expand broadband across the state with a signi cant investment of state funds and utilizing some funds that came to us from the pandemic,” Pack said. e report makes two speci c recommendations regarding broadband: to continue e orts to provide broadband access to all South Carolinians and enact policies that make sure that telehealth services expanded during the pandemic continue to remain authorized. Many insurance companies started covering more types of visits and procedures via telehealth during the pandemic, which made accessing medical care easier for many low-income and rural residents who might not have consistent access to transportation. e report notes that keeping coverage of these telehealth visits available will help vulnerable populations have more consistent access to health care.
recommendations for to prepare for and respond to the next pandemic -- something many experts believe is inevitable. “At the beginning of the pandemic, many decision-makers did what they knew to do, because there was no manual for how to deal with it,” said Myra Pack, executive director of IMPH. “Our hope through documenting what we learned is to make some suggestions that will help with a more e ective response when it happens again, to maybe o er a little more balance when it comes to closing schools and workplaces.” e report addresses everything from health care delivery to public health education, including the challenges of outreach to poor and underserved communities. It also o ers speci c suggestions in categories where health and economic concerns overlap.
Education: Outside of health care, perhaps no sector was hit harder by the pandemic than education, with rst a complete switch to virtual learning and then ongoing challenges as school leaders had to decide when to reopen and for how long. e result was many parents struggling to keep their children focused at home, as well as students who are now showing the results of both academic and social isolation. e task force calls for o cials to keep schools open if it all possible during future outbreaks, but to also develop a more streamlined approach to shi ing to virtual and hybrid classes as needed to avoid interruptions in education. e report also calls on educators to improve scienti c literacy at all levels of education and come up with ways to accommodate medically vulnerable students and sta if schools are kept open. “We need to have the ability to both keep schools open but also consistently provide learning opportunities for the vulnerable,” Pack said. Behavioral health: While physical health was an obvious concern during the pandemic and continues to be, the report also stresses the importance of behavioral health and calls for increased access to behavioral health services for people of all ages statewide. Pack said this is especially important for children and young adults who are showing increased signs of mental health stress brought on by the pandemic.“Social isolation caused by stay-athome orders had unintended consequences on all of us, but especially for young people used to going to school every day,” Pack said. “ at isolation is not good for their social lives but also for their emotional lives and their health in general. So many children receive not only needed nutrition at school, but also counseling and therapies for mental health challenges.” e pandemic also was especially hard on people with existing substance abuse issues, or those who developed them a er dealing with stress and isolation. e report calls for increased statewide access to Naloxone, more widely known as Narcan, and other products that can quickly reverse overdoses, which also increased during the pandemic.Members of the task force also hope that, in general, these recommendations will help streamline response and enhance the trust that state residents have in public health decision-makers. Pack said another long-term goal is to get more citizens from the community level involved in crisis planning.
By Molly Hulsey gsanews@scbiznews.com
When a 32-year-old Ryobi Tools employee suffered a hemorrhagic stroke last August at his home, he was sent to the Prisma Health Roger C. Peace Rehabilitation Hospital to begin his road to rehabilitation. Nico DiNunzio spent time at the hospital’s inpatient and outpatient programs at the West End Co-op located within the Roger C. Peace Outpatient Brain Injury and Young Stroke Program clinic. e treatment saved his life and allowed him to regain his motor skills and other general life skills, according to a news release.Butthat wasn’t the end of the story for Anderson’s Ryobi Tools team or DiNunzio’s career at the plant. DiNunzio continued to have permanent vision loss in his right eye and motor weakness in one leg, but in March he was able to step back into his role as the company’s full-time outdoor products merchandising coordinator, the news release said.“ e support that I received from not only my team, but the entire company throughout my recovery was extremely upli ing,” DiNunzio said in the release. “My team of therapists and doctors at Prisma Health helped me regain skills to move forward with my life at home as well as the skills to get back to work.” Part of the therapy program o ered to DiNunzio at Prisma Health’s West End Co-op centered around regaining ability to wield power tools. Once DiNunzio returned to work, Ryobi Tools, a division of TTI Power Equipment, gave more than $4,000 worth of their products, including tools used for woodworking, jewelry-making, gardening and landscaping, to the program that aided“AtDiNunzio.thetimeof his stroke, Nico’s health was the only priority,” Jess Wright, vice president of brand marketing for Ryobi, said in the release. “Supporting him through his recovery and knowing he was getting the best care possible at Prisma Health was reassuring for our entire team. Having him back in the o ce is a testament to the care he received, and he is an inspiration to our entire business. Being able to give back to those who poured so much into helping Nico is an honor.” e Roger C. Peace Rehabilitation Hospital and West End Co-op sells some items made by patients, including jewelry, cookies and screen-printed art at http://prismahealth.org/rcp.“Insomecases, it’s a matter of patients practicing with the equipment; in others, it’s learning a whole new way to handle the equipment or actually adapting it to make it more user friendly,” Kimbo Bridges, program supervisor at the West End Co-op, said in the release. “Other patients may use these type tools in their actual jobs and so this helps them return to work faster and gives that patient a huge motivational boost in knowing his or her rehab has purpose and value.” e donation is not the rst contribution TTI Power Equipment has made to Prisma Health. In 2022, the company raised $20,728 for the health care network’s annual Dragon Boat Upstate Festival as a sponsor and race participant.
CRBJ
Over the past three years, the company has donated $40,000 to the Prisma Health Cancer Institute through its participation in the Dragon Boat Race. “We’re incredibly grateful to Nico and Ryobi for paying it forward and helping us do even more to ful ll our incredible mission at the West End Co-op and through all Roger C. Peace Rehabilitation Hospital’s inpatient and outpatient services,” Elizabeth DuBose, the hospital’s associate administrator, said in the release.
IT’S TIME TO BINGE BUSINESS With nearly 150 videos (and counting), our YouTube channel features a wide variety of business-related content. Our playlists have something for everyone. Subscribe to SCBIZtv and stay in tune with what’s happening across South https://www.youtube.com/scbiztvCarolina. What’s New and What’s Hot! Coffee With Coping with COVIDRecognition Events The Opportunity Center 654 St. Andrews Blvd | Charleston, SC 29407 | www.jmusselmanconstruction.com843.225.0406 OFFICES | MEDICAL | RETAIL | HISTORICAL
Ryobi Tool’s Nico DiNunzio (in center) is surrounded by Prisma Health’s Roger C. Peace rehabilitation Hospital staff as they receive $4,000 worth of Ryobi tools. (Photo/Provided) and planning.Naloxone,increasedyoungsignsonbythestay-at-conse-especiallyfortoschoolisolationisbutalsotheirhealthreceiveschool,butformentalespeciallysubstancedevelopedandiso-increasedmoreandotherreverseover-duringthealsohoperecommenda-responseandresidentsdecision-makers.goalistocommunitythroughthetheycould,thatpub-thebestinformationwanttogetcommunitylevelnextcri-aboutwhatinforma-
Prisma Health receives new gear from thankful employer
22-September 4, 2022 www.charlestonbusiness.com 15August 22-September 4, 2022 IN FOCUS: MEDICAL & HEALTH CARE
Staff Report
16 www.charlestonbusiness.com August 22-September 4, 2022IN FOCUS: MEDICAL & HEALTH CARE
Nonstop flights to West Coast arriving in November
Lexington Medical Cancer Center has formed a partnership with the Medical University of South Carolina Hollings Cancer Center in Charleston. e two organizations say the a liation will provide Lexington Medical Center’s patients with comprehensive cancer services, as well as access to more than 200 clinical trials underway through the National Cancer Institute and designated to MUSC, according to a news release. As one of 71 National Cancer Institute-designated cancer centers, MUSC serves as a home to more than 120 cancer researchers from institutions across the country.“MUSC Hollings Cancer Center is committed to improving the care of cancer patients across our state,” Dr. David Zaas, CEO of MUSC Health Charleston Division, said in the news release. “We are excited to partner with Lexington Medical Center to help ensure patients can access innovative clinical research trials and new approaches to care, including state-of-the art therapies closer to home.” e partnership will advance Lexington Medical Cancer Center, according to its medical director, Dr. Quillin Davis. “As the Midlands’ only hospital providing comprehensive cancer care, we are excited about the bene ts our a liation with MUSC Hollings Cancer Center brings to our patients,” Davis said in the release. “Having access to their National Cancer Institute-designated clinical trials and research expertise will allow our patients to receive the latest, most innovative treatment while staying here in theirLexingtoncommunity.”Medical Cancer Center is located in West Columbia and employs more than 7,800 health care professionals. Lexington Medical Center named top metro hospital U.S. News & World Report has named Lexington Medical Center the best hospital in the Columbia metro area and the second-best hospital in South Carolina. Lexington Medical was also ranked as high-performing in the treatment of 11 adult procedures and conditions, including back and colon cancer surgery, diabetes, heart attack, stroke, and heart and kidney failure. “Recognition as a Best Hospital by U.S. News & World Report re ects our dedication to delivering advanced medicine and state-of-the-art treatments to promote the health and well-being of our patients and their families,” Dr. Brent M. Powers, senior vice president and chief medical o cer at Lexington Medical Center, said in a news release. “Achieving this prestigious ranking takes years of collaboration and innovation among specialties and providers throughout our organization. We are proud of our exceptional physicians, nurses, clinicians and sta for their continued commitment to providing quality health services that meet the needs of our communities.”eannualBest Hospital rankings, now in their 33rd year, re ect an evaluation of more than 4,500 hospitals across 15 specialties and 20 procedures and conditions.
Lexington Medical Center has formed a partnership with the Medical University of South Carolina Hollings Cancer Center in Charleston. (Photo/Provided) By Ross Norton rnorton@scbiznews.com
State cancer centers form research affiliation
“Phoenix has been a focus market for inbound and outbound service for several years, and we’re excited to expand access for passengers traveling to and from California.” Helen Hill, CEO, Explore Charleston
Charleston-area travelers will soon have more ways to go West. Breeze Airways has announced two new nonstop routes coming this fall from Charleston International Airport to Los Angeles and Phoenix. The Lowcountry is the biggest base for Breeze Airways, which also is adding six weekly flights to Provo, Utah, every day except Tuesday. Those flights make one stop but no change of planes is necessary, according to a news release.The flights to LAX in Los Angeles will take place Friday and Monday while the ights to PHX in Phoenix will depart Wednesday and Saturday. All three of the new routes begin Nov. 2. “ is is a major milestone in delivering the rst low-cost, nonstop air service to Phoenix,” Elliott Summey, airport director and CEO of Charleston International Airport, said in the news release. “Service to both Phoenix and Los Angeles from Charleston International Airport has been a key strategic objective for Team CHS that will allow both business and leisure travelers convenient access to and from some of the most important airport gateways to the world.” Breeze plans to more than double its eet this year, from 13 Embraer 190 and 195 aircra to 30 aircra , including 14 Airbus A220s and three additional Embraer E-jets. Breeze has ordered 80 new Airbus A220-300 aircra that will be delivered one per month over the next six years, with options for 40 more, the release said. “ ese new western U.S. destinations are signi cant additions to our network and are examples of Breeze’s continued commitment to — and investment in — the Charleston region,” Helen Hill, CEO of Explore Charleston and chair of the Aviation Authority, said in the release. “Research tells us the Lowcountry is a popular destination for West Coast travelers. Phoenix has been a focus market for inbound and outbound service for several years, and we’re excited to expand access for passengers traveling to and from California.” CRBJ Reach Ross Norton at 864-720-1222.
CRBJ
“A lot of doctors in Charleston are employed by health systems and they have restrictive covenants. If they can’t get out of those and they can’t get a patient list, we tell them it’s too risky,” said Bauer. “In a perfect world, they’re an independent doctor. ey own their own practice and they have no restrictions. Ideally, they have 2,000-2,500 patients and they’ve been in the market for seven to 10“We’reyears.very thoughtful and careful and we know what works.” Doctors also need to have exemplary reputations and patient relationships, which can lead to more patients willing to pay the annual fee to continue to have access.“It took some convincing to my patients to get them to pay me money for doing nothing but being more available,” Dr. Scott said. “I think MDVIP called it the ‘love factor.’ How much do patients loveBaueryou?”said in addition to a doctor’s reputation online, meticulous interviews are done about why a doctor wants to make the switch. “It has to be people who have that passion for connecting with patients,” he said. “ ey need to have the right skill set, not only clinically, but great interpersonal skills and a large patient panel where they have real loyalty and a tremendous reputation with the community and their patients.”
Special
PUBLICATION DATE: October
HEALTH CARE CONCIERGE, from Page 13
For Dr. William Scott, a concierge medicine doctor in Piedmont, moving to the new model saved his own health. “I had a 5,000-patient practice, and it was absolutely killing me,” said Dr. Scott. “Along with my nurse practitioners, sometimes we would see 70 people a day. at’s not medicine to me. You need to have a relationship. You need to be able to sit down and talk to people and not run out of the room to the next emergency, which is where I’d gotten. Now, you’re seeing so many fewer patients per day, you can give them an appointment that day.”
22-September 4, 2022 www.charlestonbusiness.com 17August 22-September 4, 2022 IN FOCUS: MEDICAL & HEALTH CARE
Giving Digging in Lowcountry nonprofits do the hard work as demand for services surges during pandemic Your guide to community giving in the Lowcountry | 2021 - 22 thanks to: Sponsored by: 31, 2022 30, 2022
MDVIP reports that lower patient numbers result in better care; they report an 80% reduction in hospitalizations and a 90% reduction in readmission rates for patients enrolled in concierge medicine versus traditional doctor’s o ces. “Doctors are able to provide the kind of care that most of them went into medicine for in the rst place — more personalized healthcare and proactive healthcare, as opposed to ‘sick care,’ ” said Bret Jorgensen, CEO of MDVIP. A model 20 years in the making Florida-based MDVIP was founded in 2000 by primary care doctors who felt the healthcare system was losing its way. “ ey knew there was a better way to practice medicine and provide the level of care and attention their patients deserved,” the rm stated. Today, MDVIP has more than 1,100 physicians in 44 states and over 365,000 patients enrolled under its umbrella. ere are 30 MDVIP doctors in South Carolina, including six in Charleston. Illinois-based Specialdocs Consultants, another large concierge medicine consulting rm in nearly two dozen states with doctors in Sumter, was created in 2002 by Roberta Greenspan, a physician liaison and physician administrator for a large health system. She launched a boutique medical practice consulting rm with the concept of “bringing back patient-focused, high-quality medical care to frustrated, disillusioned physicians and their equally frustratedConciergepatients.”medicine rms like these are driving this crossover growth, including recruiting and consulting with the best doctors. “It’s important to have a consultant when moving into this new model, because there’s a lot of nuance to it,” said Terrence Bauer, CEO of Specialdocs Consultants. Consulting companies set up the concierge practice every step of the way, from evaluating and identifying doctors who would be a good t to providing consulting, advising and support services. Companies also connect patients with legal and compliance services, market the practice and collect the annual membership fee, which the companies set based on the market, and then give a portion back to the doctors. Recruiting top physicians Not just any doctor is invited into these major networks; concierge medicine consulting rms do a thorough background and vetting process to make sure they’ll be successful.
The path ahead While the vast majority of the doctors in concierge medicine are in family medicine and internal medicine, both MDVIP and Specialdocs are now looking to bring specialists into the fold, including in gynecology, endocrinology, rheumatology, cardiology and neurology — elds that lean towards forming longterm relationships with patients and which have large patient numbers. One current Specialdocs gynecologist in Los Angeles is o ering tiered membership rates. “An obstetrician membership rate will guarantee that she will be there for the delivery,” Bauer said. Both MDVIP and Specialdocs are actively recruiting more doctors in South“CharlestonCarolina.is de nitely a market that we’re interested in growing, and we’re in active discussions to try and expand our network,” Jorgensen said. “It’s all about relationships. People pay for the relationship and having their doctor there for them.” CRBJ advertising information, contact Rick Jenkins at (864) 720-1224 or rjenkins@scbiznews.com
The winners of the Association of Fundraising Professionals Lowcountry Chapter Philanthropy Awards are also featured, with bonus distribution at their National Philanthropy Day luncheon. 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!
Another major factor is the patient population and demographics, such as annual household income, to make sure the area can support the concierge medicineSalesmodel.teams from concierge medicine consulting companies have helped move the needle to get more doctors into the model, along with word-of-mouth referrals.“A third of our doctors are coming from referrals from MDVIP doctors themselves,” Jorgensen said. “We also have lots of interest from doctors through our digital media e orts.”
For
Give the gift of awareness. Our Giving magazine is a special opportunity to support philanthropy in the Lowcountry. The articles tell the heartwarming story of the community’s generosity.
| ADVERTISING DEADLINE: September
affiliation more, investmentdestinationsthenetworkcontinuedin—Hill,CEOchairoftherelease.LowcountryisWestCoastfocusmarketservicefortoexpandtoand
18 www.charlestonbusiness.com August 22-September 4, 2022 Retirement Communities Ranked by No. of Beds/Units in the Charleston Area Company Phone / Website / Email Administrator(s) / Year Founded Bed/Units Employees/ Salon/Barber acilityFFitness StoreGeneral ApartmentGuest Library LaundrersonalPy OfficePhysician ActivitiesSched. ransportationT Bishop Gadsden Episcopal Retirement Community 1 Bishop Gadsden Way Charleston SC 29412 contactus@bishopgadsden.orgwww843-762-3300.bishopgadsden.org Lynne Loring Kerrison, Aaron Roop Sarah E.H. Tipton 1850 483475 ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ Franke at Seaside 1885 Rifle Range Road Mount Pleasant SC 29464 marketing@frankeawww843-856-4700.frankeatseaside.orgtseaside.org Sandy Stoll 1892 200312 ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ The Palms of Mount Pleasant 937 Bowman Road Mount Pleasant, SC 29464 www843-884-6949.thepalmsofmtpleasant.com Rhonda Hammers, Joe Carr, Lisa 1983Bell 125194 ✔ ✔ ✔ ✔ ✔ ✔ ✔ Life Care Center of Charleston 2600 Elms Plantation Blvd. Charleston, SC 29406 www843-764-3500.lifecarecenterofcharleston.com Beth 1993Cliett 180148 ✔ ✔ ✔ ✔ ✔ NHC HealthCare Charleston 2230 Ashley Crossing Drive Charleston, SC 29414 tylerwww843-766-5228.nhccare.com/locations/charleston.bartlett@nhccare.com Tyler Bartlett 1990 170117 ✔ ✔ ✔ ✔ ✔ ✔ ✔ Seafields at Kiawah Island 200 Farm Lake View Kiawah Island, SC 29455 seniorliving@kiawww843-890-3881.seafields.comwah.com Sean Nealon 2021 106 ✔ ✔ ✔ ✔ ✔ ✔ ✔ Carter May Senior Living 1660 Ingram Road Charleston, SC 29407 janine@charlestondiocese.orgwww843-556-8314.charitiessc.org Janine N. Bauder 1929 2525 ✔ ✔ ✔ ✔ ✔ ✔ Ser vices Because of space constraints, sometimes only the top-ranked companies are published in the print edition. Although ever y effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to research@scbiznews.com. Researched by Paige Wills rapidly,thesubsidethattohighs,ratesquarter.aquartermakesdeclinedthatreport.wastoAnyindicatorsaboutrecessionGDPterssuggesttonotionarecessionextinguishedEmploymentmonth,0.1%Indeed,itissignicanthavewhichtheeconomyhappens,substantiallyatmeansFederalandthirdconsecutivefederalfundseralOpenSept.20-21.eemploymentunambiguouslymentrosemonth.Andtion.Inthehasclimbedmonth. Economy Slifer IN FOCUS: MEDICAL & HEALTH CARE Living is Always in Style Extraordinary living begins as your car meanders Bishop Gadsden Way, passing natural landscapes, the community dog park, garden, and bee sanctuary... and continues as you enter your personally appointed residence showcasing the treasures you have collected throughout the travels of your life. A Life Plan Community in Charleston, SC 800.373.2384 | bishopgadsden.org Career Services - 843.406.6297
start in Q3,
problems loom
At the same time, the unemployment rate declined 0.1% to 3.5% in July. at is both good news and bad news. It is good that so many workers still have jobs. But it is bad news because the Fed needs to boost the unemployment rate above its so-called full-employment level to perhaps 4.5% to eliminate some of the upward pressure on wages. Slower growth in wages will eventually help to lower the in ation rate. Presumably those additional workers in July were producing something so, as a result, we have boosted our projected third quarter GDP growth rate to 2.0%. To whatever extent one thinks that growth slowed in the rst half of the year, that brief slowdown appears to have ended. e economy is expanding nicely. Consider, too, that long-term interest rates have fallen sharply in the past six weeks. A er reaching a peak of 3.5% in mid-June, the yield on the 10-year note has fallen 0.7% to 2.8%. e 30-year mortgage rate has declined from 5.8% to 5.0% in that same period of time. is unprecedented decline in long rates was based on a belief that the Fed is committed to doing whatever was required to break the back of in ation. e Fed’s action would trigger a recession which would bring down in ation and allow the Fed to actually lower rates by the middle of next year. We believe this view is way out of sync with reality. We expect the Fed to raise the funds rate to 4.0% by the end of this year. With the core CPI likely to increase 6.6%, the real funds rate at year end would still be negative by 2.6%. Negative real interest rates are not going to slow the pace of economic activity. Nor are they going to allow any signi cant decline in the in ation rate. e Fed needs to keep raising rates until they ultimately turn real rates positive.If the Fed raises the funds rate rapidly and in ation does not subside, our sense is that long rates will soon rebound. For what it is worth, we expect the yield on the 10-year note to climb from 2.7% to the 4.0% mark by the end of this year and perhaps even higher in 2023.As we see it, the economy is on the mend from its early-year slump. In ation is unlikely to improve any time soon. at will require the Fed to keep raising short term rates. As short rates climb and in ation does not quickly retreat, long rates are going to climb. If the Fed is as serious about quelling in ation and bringing it back down to the desired 2.0% pace, then the Fed funds/10-year spread is likely to invert in the early part of next year (which means that Fed policy is nally “too tight”). at, in turn, will lead to the long-awaited recession in 2024. It is coming, but not for a while yet. CRBJ Reach Stephen Slifer at www.numbernomics.com off fast though
Staff
The InnoVision Awards Board of Directors announces the finalists for the 2022 InnoVision Awards. This year’s finalists include both large and small organizations, representing an array of industries, from the Upstate to the coast. InnoVision Awards honor South Carolina individuals and organizations for impactful innovations under development in South Carolina within the last 18 months. e annual awards have recognized organizations, individuals, educators and leaders over the last 24 years of the program. e 2022 nalists in the six competitive award categories are: Technology Development Foresight Data Systems LLC (Columbia) Laminaheat LLC (Greer) Victory ExoFibres LLC (Central) Community Service South Carolina Broadband O ce Pickens(Columbia)County (Pickens) e Sophia Institute (Charleston) Small Enterprise Advent Innovations (Columbia) ASSET LLC (Columbia) Heartbeat Technologies (Mount Pleasant) Education MedEx Academy-Prisma Health System Skillsgapp(Greenville)LLC (Greenville) Sprattronics Learning Lab (Greenville) Technology Integration CyCrypt LLC (West Columbia) TTI Outdoor Power Equipment Inc. Zylo(Anderson)erapeutics Inc. (Greenville) Sustainability Clemson University Environmental Engineering & Earth Science Department Performance(Clemson) Enhanced Delivery (Moore) VBASE Oil Co. (Pendleton) All nalists will be recognized during the InnoVision 2022 Meet the Finalists Series sponsored by South Carolina Research Authority. e series will be held virtually at 4 p.m. on three consecutive Tuesdays: Sept. 20, Sept. 27, and Oct. 4. Each event will feature nalists in two award categories. ey are open to the public and are free to those who register in advance.InnoVision’s annual awards program will culminate with the virtual annual awards celebration on Nov. 15. During the awards celebration, each finalist’s innovation will be showcased with a video profile. The winner will be announced in each award category, and two special awards will be presented: The Ibrahim Janajreh Young Innovator Award and the Dr. Charles Townes Individual Achievement Award. InnoVision, founded in 1999, is a grass-roots, volunteer-led non-profit organization dedicated to the advancement of innovation and technology in South Carolina. CRBJ Slifer Illustration/File.
to
22-September 4, 2022 www.charlestonbusiness.com 19August 22-September 4, 2022 ransportationT ✔ ✔ ✔ ✔ ✔ ✔ ✔ by Paige Wills GDP declined in the first two quarters of the year. Some economists suggest that the economy was in recession during that period of time, or about to go into one. But many economic indicators tell us that was not the torseachthewereIflyingandindustrialEmployment,case.production,consumerspend-havebeensteadi-risingformonths.theeconomytrulyinarecessioninrsthalfoftheyear,ofthoseindica-shouldhavefallen. Any notion that the economy was in or close to a recession in the rst half of the year was extinguished by the July employment report. Employment surged by 528,000 in that month, and the unemployment rate declined 0.1% to 3.5%. Indeed, the employment report for July makes it abundantly clear that the third quarter is o to a fast start and suggestive of a signi cant rebound in GDP growth in that quarter. Furthermore, long-term interest rates have fallen by 0.7% from their recent highs, which will provide further stimulus to the economy as it moves into the fall. If that happens, the in ation rate is unlikely to subside substantially any time soon. at means that the pressure is still on the Federal Reserve to keep boosting rates rapidly, and it essentially ices the case for a third consecutive increase of 0.75% in the federal funds rate to 3.25% at the next Federal Open Market Committee gathering Sept. 20-21.eemployment report for July was unambiguously strong. Payroll employment rose by a stunning 528,000 in that month. And this was not just a July aberration. In the past three months, employment has climbed by an impressive 437,000 per month.
InnoVision Awards finalists in 6 categories named for 2022 Report gsanews@scbiznews.com
Economy
Trident’s programs now tuition-free All of Trident Technical College’s programs of study are tuition free for eligible South Carolina residents for the full 2022–23 academic year, thanks to additional funding provided by the state. In recent years South Carolina residents have been able to enroll in a number of career-training programs at Trident Tech without paying out of pocket for tuition and fees. With the additional funding from the state, the college can o er all its programs, including its popular university-transfer programs, tuition free for the current academic year. Beyond having South Carolina residency, new and current students must complete a 2022–23 Free Application for Federal Student Aid to be eligible to attend tuition free. New students and students who have not been enrolled during the last three semesters must also submit a college admission application.
Gibbons Zucker Champion
BUSINESS SERVICES Tim Rogers is now Floyd Lee Locums’ vice president of engagement. Rogers is responsible for nurturing, building, and leading programs to support personal connection and healthy relationships with providers and clients. He oversees the concierge and sourcing teams.
New location for Boudreaux Boudreaux, which just celebrated its Abare OmRaju DuranSallie
ChampionMelynda , Santee Cooper Credit Union’s chief executive o cer, was re-elected to the Carolinas Credit Union League board of directors. Champion has served as president and CEO for Santee Cooper since 1997. Also elected to the board were Tim Carlisle, Carolina Trust Federal Credit Union’s president and CEO; LaTasha Cooper, SPC In the rst half of the year, real estate rm e Cassina Group recorded more than $373.3 million in closed and pending sales and helped with 237.5 client transactions. e company says that the second half of the year looks equally promising.
Nearly one-third of all transactions handled by e Cassina Group in 2022 traded for $1 million or higher.
See PEOPLE, Page 21 See BUSINESS DIGEST, Page 21
SHL Medical leases entire Palmetto Trade Center II Developer SunCap Property Group has leased the entire Palmetto Trade Center II to SHL Medical, a provider of drug delivery solutions. SHL is taking immediate occupancy of the 245,000-square-foot building and will up t the space over approximately 18 months. e company’s $90 million investment is expected to create 165 jobs.
Summerville Medical Center’s fellowship-trained board-certi ed surgeons o er a variety of surgical procedures, covering such areas as gynecology, orthopedics, spine, pediatrics, re ux, weight loss, breast, and vascular.
New at Stantec are Katie Abare and Gopi OmRaju Abare is an environmental scientist working with Stantec’s regulatory/resource, local government, and private clients on technical studies and ecological resource assessments.Sherecently graduated from Lander University with a bachelor of science in environmental science OmRaju is a senior project director in Stantec’s program management practice. He brings more than 25 years of experience in facilities operations, energy management, and construction project management with a specialization in healthcare. He graduated with a bachelor of engineering in marine engineering from the State University of New York Maritime College. Cullum Constructors has promoted Troy Sallie and Juan Duran to sheet metal foreman.While still in high school, Sallie spent two years in the welding program at the Dorchester County Career and Technology Center. Upon graduation he went to work in the HVAC industry, gaining experience in duct fabrication and installation. Sallie is OSHA 10 and CPR certi ed. Duran was introduced to construction through a vocational school, where he trained to be an electrician. He is bilingual and OSHA 10 and CPR certi ed. Mark Hood, Hood Construction’s founder, president, and CEO, has been inducted into the Carolinas Association of General Contractors’ 2022 Hall of Fame. e honor recognizes members, both past and present, who made extraordinary contributions over their careers to the association, the construction industry, and the community.Attheassociation, Hood has served in such roles as executive board chair and treasurer, director-at-large board member, and building-services division board chair. Along with this year’s class of eight other individuals, Hood and company were recognized for embodying the skill, integrity, and responsibility for which the association stands.
CONSTRUCTION
Bob Barrineau and Brendan Redeyo with CBRE represented SunCap Property Group in securing the lease. Sean McKee with PharmaBioSource represented SHL. Tenants of the rst phase of Palmetto Trade Center include Nice Commerce, NB Handy, Home Depot, and Juliska. e complex is SunCap’s third project in the Charleston area. SunCap developed a 255,000-squarefoot distribution center o of Weber Boulevard in the Ingleside community and co-developed North Pointe Business Campus Building One with WestRock Land and Development. It controls various industrial land positions in the Tri-County area. Summerville Medical Center expands Summerville Medical Center is undergoing a $6 million surgical services expansion that will provide the growing community in Dorchester and Berkeley Counties with greater access to local surgical care. “ is investment is driven by patient and physician demand for our services,” said Jessica Marin, Summerville Medical Center’s chief operating o cer. “In 2021 our team performed more than 5,000 surgeries, 825 of those utilizing state-ofthe-art minimally invasive robotic procedures. By adding new operating rooms and expanding other surgical spaces, we will be able to o er new surgical procedures for families in our community.”
Claire Gibbons has been named the director of Power:Ed, a philanthropy of South Carolina Student Loan. She oversees all outreach, grant, and partnership operations. is scal year, Power:Ed will invest $900,000 in South Carolina higher education and workforce development organizations to address gaps, boost career readiness, and ensure a pipeline of skilled talent for the state. Gibbons succeeds founding director Sara Fisher, who is retiring a er 40 years of in the banking industry and ve years building Power:Ed. InterTech Group chair Anita Zucker has become chair of the Trident Technical College Area Commission a er serving as vice chair since 2018. Zucker represents Charleston County and has served on the commission since 2007. She takes over as chair from Yvonne Barnes of Berkeley County, who served two two-year terms as chair. Commission members are appointed by the governor upon the recommendation of the legislative delegations in Berkeley and Charleston counties and by the county council in Dorchester County.
EDUCATION
People in the News Business Digest At Work BUSINESS DIGEST | PEOPLE IN THE NEWS | HOT PROPERTIES
FINANCIAL SERVICES
Cassina Group tops $373.3 million in first half of year
“As we head toward the fall of 2022, our expectation is that home sale prices will continue to increase as a whole for the entire Charleston metro area as a result of the limited inventory of homes available for sale and the number of people relocating to the Lowcountry that need housing,” said Owen Tyler, managing broker and partner.
MARKETING AND PUBLIC RELATIONS e Brandon Agency has added project manager Kelsey McEntee to its client services team in Charleston. McEntee has more than 13 years of experience in project and event management. She graduated from the University of North Carolina in Greensboro with a bachelor’s in business administration. 46th anniversary in South Carolina, has opened a new location in Charlotte. e rm has designed several major projects throughout the Carolinas, including the University of South Carolina’s Campus Village, Mountains to Midlands Girl Scout Leadership Center, Christ the King High School in Huntersville, N.C., and the South Carolina State Credit Union Boudreaux’sheadquarters.Charlotte design studio, managed by long-time principal David Wiesendanger, is working with the Columbia studio to cover a shared region. Three bankers join Fifth Third Fi h ird Bank, National Association has added three local bankers to further its expansion in Charleston Market.Jason Hessberg, commercial team lead, brings more than 15 years of commercial banking experience. He is a graduate of Wake Forest University, where he also earned his MBA. Dave Fichman, senior relationship manager, brings more than 20 years of banking, credit, homebuilder lending, and medical specialty group experience. He spent more than 10 of those years as a commercial relationship manager in the Charleston market. He is a graduate of Virginia Tech. Marc Barnes, treasury management o cer, is a treasury sales o cer with a history of partnering with clients to meet objectives. Originally from Michigan, he attended Western Michigan University.eexpansion into Charleston is the latest in a series of investments across the region and is part of its long-term commitment to local growth. Fi h ird entered the Carolinas in 2008 with the acquisition of First Charter Bank, expanding into South Carolina in 2011. Two companies move to Citadel Mall Gracie Jiujitsu Charleston and Lillie’s of Charleston have moved their operations to Citadel Mall. Gracie Jiujitsu Charleston, operated by Michael Key, o ers a range of classes that includes anti-bullying classes and women’s only programming. e studio is located next to Planet Fitness. Lillie’s of Charleston has Southern and Lowcountry BBQ sauces, hot sauces and spice mixes, snacks, gi baskets, and more. Its products are sold throughout the Lowcountry and on Amazon. Partnership offers business training A new partnership between the Town of James Island and Lowcountry Local First is o ering localized business training and strategic small business support. e annual partnership includes a Community Storefront Challenge and the nonpro t organization’s Good Enterprise Initiative, which o ers business training and support.eCommunity Storefront Challenge works with business owners who want to have a brick-and-mortar establishment and provides economic opportunity for those who live in the Town of James Island. Selected businesses receive a ordable rent and business support services.eGood Enterprises Initiative works to provide equitable opportunity for business ownership, which can transform lives and communities. e three programs in this initiative are the Community Business Academy, a 12-week entrepreneurial training course; Business Acceleration Services, a year-round suite of support services for academy graduates; and Credit to Capital, for graduates who are ready to pursue nancing options with local partners and institutions.
CRBJ Fellows Pittas White Chesney PITN, from Page 20
Credit Union’s vice president of lending; and Jerry Gaillard, Shuford Federal Credit Union’s president andhasCEO.InvestmentNewsnamed
Optimal Bio is opening a new o ce in Mount Pleasant and adding nurse practitioners Shannon Converse and Deborah Manke to the sta . Converse spent ten years working in primary care with a focus on preventative healthcare and wellness. To this end, she has done coursework with the Functional Nutrition Alliance, the Nutrition erapy Institute, and the Institute for Functional Medicine. Manke, who has a dual master’s degree, is a triple board-certi ed holistic nurse practitioner and an adult nurse practitioner specializing in autoimmune, digestive, hormone, and in ammatory conditions as well as chronic diseases. A graduate of New York University, her clinical work in large hospital institutions and private practices exceeds 37 years. e new doctor at Coastal Fertility Specialists is Carrie Riestenberg, who is board certi ed in obstetrics and gynecology as well as reproductive endocrinology and infertility. Riestenberg completed her residency in obstetrics and gynecology at Kaiser Permanente Santa Clara, where she was voted into the Gold Humanism Honor Society.
Vincent S. Scott, MD, has joined Summerville Medical Center’s Summerville Pelvic Health Specialists. A yearsbringsurogynecologist,fellowship-trainedhemorethan25ofexperience in providing medical and surgical care for women.Scott is board-certi ed by the American Board of Obstetrics and Gynecology in both obstetrics/gynecology and urogynecology. He is a graduate of the Northwestern University Feinberg School of Medicine and completed his residency at Michael Reese Hospital and Medical Center. Dorchester County Community Outreach has brought in Virginia “Ginny” Vicini as its new executive director. Vicini has extensive experience working in the elds of substance abuse, mental health, individual and family homelessness, juvenile justice, service to veterans, and family reuni cation.
Nicholas J. Pittas has joined United Capital Funding as national sales manager. In his new role, Pittas works with senior management on execution of strategic marketing initiatives and manages business development outreach through United Capital’s o ces in Nashville, Chicago, Los Angeles, and Columbus, OH. Most recently, Pittas was senior vice president and the industry leader for defense contracting and government services with TBK Bank, a subsidiary of Triumph Bancorp. Scott Woods, president and CEO of South Carolina Federal Credit Union, has been awarded the Order of the Palmetto, South Carolina’s highest civilian honor. Under his leadership, the credit union has grown by $1.5 billion in assets, expanded into four new markets, and earned Best Place to Work and Best Credit Union awards from national, local, and industry media.
Brett Fellows a Top 100 Financial Advisor in the nancial advice industry. Fellows is founder and chief executive of Oak Capital Advisors in Charleston.Fellows’ selection was based on his commitment to creating valuable educational content for local small business owners who seek nancial advice and his e orts to advocate for nancial literacy in diverse communities.
Speaker series begins in October Coastal Community Foundation’s annual Equity Speaker Series will kick o with an inaugural event featuring Barbara Whye, Apple’s vice president of inclusion and diversity. e event, hosted in partnership with title sponsor Blackbaud, will take place from 11 a.m. to 1 p.m. on October 4, 2022, at the Harbour Club at WestEdge. Virtual attendance is an option. Whye is a South Carolina native and University of South Carolina alumna. Previously, Whye served as Intel’s head of diversity and inclusion. McLeod chosen as ambassador e U.S. Department of Labor O ce of Apprenticeships has chosen McLeod Information Systems as an ApprenticeshipMcLeodAmbassador.Information Systems was the rst small business in South Carolina to register and employ apprentices in Cybersecurity in 2019. McLeod Information Systems’ role as Apprenticeship Ambassador allows the company to support the Department of Labor’s goals of modernizing registered apprenticeship; increasing diversity, equity, inclusion, and accessibility in registered apprenticeship programs; engaging industry in new and emerging sectors; and expanding pre-apprenticeship, youth apprenticeship, and degree apprenticeship.
BUSINESS DIGEST, from Page 20 Scott See PITN, Page 22
e Charleston Parks Conservancy had added two new sta members. Kate White is the new director of horticulture, overseeing the organization’s horticultural initiatives in City of Charleston parks. Shanice Chesney is the fellowship program manager White graduated from Ohio University with a degree in environmental geography and earned an associate’s degree in horticulture from Trident Technical College. She also completed an internship with the French Heritage Society. Chesney is a graduate of Oglethorpe University in Atlanta, where she majored in international studies and Spanish with a focus in urban ecology. HEALTH CARE
Converse Manke Riestenberg
www.charlestonbusiness.com 21August 22-September 4, 2022 Page 21
22 www.charlestonbusiness.com August 22-September 4, 2022
Marcus & Millichap announced the sale of an O’Reilly Auto Parts in Summerville for $2,596,992. Jason Jolly, associate, and Andrew Margulies, senior vice president in the rm’s Raleigh o ce, marketed the property on behalf of the seller and secured the buyer. e building is at 1839 State KristieRoad.Roe and William Ederle of Colliers represented Ice House Project LLC in the lease expansion of 2,069 square feet of o ce space at 4289 Spruill Ave. in North Charleston to e Middleton Group. Drayton Calmes of Norvell Real Estate Group LLC represented the buyer, Whelan Mellen & Norris LLC, in the sale of o ce space at 89 Broad St. in Charleston from e Shahid Group LLC for $1.4 milKristielion.
Roe and William Ederle of Colliers South Carolina represented the landlord, Liberty O ce LLC in the lease of 28,244 square feet of o ce space at 151 Meeting St. in Charleston to Nelson Mullins Riley & Scarborough LLP. Kip Bowman and Sara Bodell of Coldwell Banker Commercial Atlantic represented the landlord in the lease of 2,548 square feet of medical space at Unit C 85 Springview Lane in Summerville. Kristie Roe of Colliers South Carolina represented the landlord, Liberty O ce LLC, in the lease of 6,915 square feet of o ce space at 151 Meeting St. in Charleston to Saxton and Stump LLC. Kristie Roe and William Ederle of Colliers South Carolina represented the landlord, Ice House Project LLC, in the lease of 2,069 square feet of o ce space at 4289 Spruill Ave. in North Charleston to e Middleton Group.
As director of Boeing Global Engagement, Williford led the company’s community outreach across 11 states and oversaw $100 million in charitable investments.
termsastarttoit’smakeonOwningisrealtogeneratethisimportanthaveaashort-termvacationshould RevPAR: occupancy.eachavailable.numbergrossRevPARtheAvailablemakerevenueSTR ADR: e di ADR is when the Here’s Seven Kristie Roe of Colliers represented Liberty O ce LLC in the lease of 6,915 square feet of o ce space at 151 Meeting St. in Charleston to Saxton and Stump LLC.
CRBJ Williford Carroll
Hock Saunders
PITN, from Page 21
Hot Properties Robert Pratt of Re/Max Pro Realty represented the buyer, P.R. Properties of Summerville LLC, in the sale of 10,208 square feet of retail space at 1515 Old Trolley Road in Summerville for $3,625,000.
•
•
REAL ESTATE Meg Carroll is now working with Dunes Properties. A Clemson University graduate, she moved to Charleston in 1996 to pursue a doctorate in pharmacy. During her 20-year career in pharmacy, Carroll worked for Delta Pharmacy, the VA hospital, and MUSC. Engel & Völkers Charleston has added three real estate advisors to its Mount Pleasant o ce: Anne Gri n has worked in the local real estate, nance, and legal sectors for more than two decades. Bella Lledos previously held sales and account executive roles. She graduated from Denison University. Chandra Ruch had been with Engel & Völkers in Seattle. She has more than 20 years of experience as a real estate advisor. Colliers | South Carolina has added Chris Hock as a marketing assistant in Charleston. He works with the industrial, land, o ce and retail brokerage teams.
Sharon Emma and Olivia Pettler are now with e O ce People— Emma as assistant controller, Pettler as interior designer and VR specialist. Emma, who has years of accounting and o ce management experience, joins an expanding team of technology professionals. Pettler recently graduated from e Savannah College of Art and Design with a bachelor of ne arts in interior design.
NONPROFIT e new board chair at Trident is Wendy Kopp, senior vice president and private wealth executive at FineMark National Bank & Trust. She succeeds Tim Grow, of ElliottNewDavis.board members are Natasha Chatman, Fetter Health Care Network; Monifa Ellington, Ingevity; B. Shawan Gillians, Womble Bond Dickinson; David Hamilton, Truist Bank; Fleetwood Hassell, e Bank of South Carolina; Courtney Howard, College of Charleston; Bob Lowe, ExecHQ; Cassandra Price, AstenJohnson; and Lisa Van Bergen, Professional Nonpro t Solutions. Outgoing board members are Jesse Dove, Investment Advisory Center; Anne Forrest, Seacoast Supply; Mark Lewis, Tech CXO; Janine McManus, Sonepar USA; Steve Polston, AstenJohnson; and Stephanie Singleton, e Movement. Jessica Williford has joined Grant AdvisorsPhilanthropicaer nearly a decade leading Boeing’s investments.philanthropicsupportdirectlyCarolina.engagementcommunityinSouthSheworkswithclientstotheirstrategic
Matt Pickard, Chloe Heiligenstein and Mark Erickson of Colliers South Carolina represented the buyer, Collett Industrial, in the sale of 27.47 acres of industrial space at Jedburg Road in Summerville.
Markus Kastenholz of Colliers South Carolina represented the seller, Kuznik Trust, in the sale of .24 acres of commercial space at 2547 Etiwan Ave. in Charleston to Charleston STR Owner LLC. Julia Donovan of Coldwell Banker Commercial Atlantic represented the tenant, South Oak Dental LLC, in the lease of 2,000 square feet of o ce space at 915 Folly Road, Charleston. Steve Hund of Coldwell Banker Commercial Atlantic represented the landlord in the lease of 120 square feet of o ce space at 192 East Bay St. in Charleston. CRBJ
RETAIL Rev has promoted Jennifer Saunders to vice president of retail. She had been Rev’s director of retail, overseeing North Carolina branch operations and its contact center. In her new role, Saunders oversees all aspects of Rev’s retail operations for its 15 locations and its contact center. She joined Rev in 2021 from Chartway Federal Credit Union, a $2 billion nancial institution in Virginia.
Jeremy Willits and Gerry Schauer of Avison Young represented John P. Tankersley III in the leasing of an 880-square-foot o ce space at 454 Coleman Blvd., Suite 2-D, in Mount Pleasant to Nomos Marketing AndrewLLC.Batkins and Wayne Simon of Woodlock Capital represented the seller, 1370 Remount RD LLC, in the sale of Palmetto Square Apartments at 1370 Remount Road in North Charleston. e 16-unit multifamily property sold for Vitre$1,915,000.Stephen and Taylor Sekanovich of Avison Young South Carolina Inc. represented the landlord, Delux Properties LLC, in the lease of 1,210 square feet of retail space at 5117 Dorchester Road in North Charleston to Premium Tobacco & Vape RobertLLC.Pratt of Re/Max Pro Realty represented the buyer, Robert L. Pratt LLC, in the sale of 4,000 square feet of medical space at 2143 N. Main St. in Summerville to RECalhoun One LLC for $995,000. Elliot Calhoun of Woodlock Capital LLC represented the seller. Robert Pratt of Re/Max Pro Realty represented the seller, Charleston Capital Corp., in the sale of 1.58 acres of self storage space at 900 Bacons Bridge Road in Summerville to Main Road Self Storage Paradise Point LLC for $275,000. Sara Bodell and Kip Bowman of Coldwell Banker Commercial Atlantic represented the buyer. J.R. Caldwell and Bob Caldwell of Caldwell Commercial Real Estate Services represented the tenant, MSA Products Corp., doing business as Well Hung Vineyard, in the lease of retail space at 49 S. Market St., Charleston, from 49 Market Street LLC. Thomas Kennedy of Kennedy CRE represented the landlord.
TECHNOLOGY
hear from you
Write: Ross Norton, Editor SC Biz News 35 Cessna Court, Suite B Greenville, SC 29607 Email: rnorton@scbiznews.com Illustration/File
Owning short-term rental properties is a strategy that more and more real estate investors are capitalizing on to generate a profit. But in order to make this investment strategy successful, it’s important to know the terms and factors to have a better understanding of how to start a short-term rental or vacation rental business.STRs are not the traditional rental projects that many people in the real estate industry know. is is something new and di erent. Before investing in a short-term rental property to rent on Airbnb, VRBO, or as a vacation rental , knowing the following key terms should be at the top of your list.
CRBJ want to
• Appreciation:. is is the amount an investment property increases in value over a period of time. When buying a short-term rental property, an investor should both want and expect the property to increase in value. While the other metrics and formulas listed above are unique to short-term rentals, appreciation applies to all residential investment properties. Appreciation in real estate is usually measured using regular and historical trends for the market and comps for the property type (not necessarily only short-term rental comps).
• RevPAR: is means Revenue Per Available Room. In many ways, this is the make or break (or brake) term. e RevPAR formula is simple. Divide the gross revenue (usually monthly) by the number of nights the rental property is available. is shows the total revenue each STR property generates regardless of occupancy.
• RevPAN: Revenue Per Available Night. RevPAN is calculated similarly to RevPAR, but this formula removes nights when the property is not available because of repairs, owner usage, or other factors. Using the example above, if the STR or vacation rental property could not be rented for three nights because it was being painted, then the RevPAN would be calculated over three fewer nights: $5,000/27, or $185.19.
Viewpoint VIEWS, PERSPECTIVES AND READERS’ LETTERS ELLIOTT Seven terms to know before diving into investing in short-term rentals We
• Gross Annual Income: is is the total income generated by a short-term rental on an annual basis. For rental properties, such as vacation rentals that are highly seasonal, some real estate investors also choose to measure gross seasonal income. In a place like Miami Beach, where the weather is desirable year-round, an investor will likely want to measure annualHowever,income.ina place like Palm Springs, where visitors and demand are more prevalent during the winter months, it may be more helpful to measure gross seasonal income to accurately measure the value of an STR.
22-September 4, 2022
• Occupancy: Usually measured as a percentage on a 30-day monthly scale, calculating the occupancy of a shortterm rental property allows an investor to accurately estimate how many days the property will have renters. Unlike long-term rentals which rely on long leases to provide cash ow, a shortterm rental property will be occupied more sporadically. In 2022, the average occupancy rate of STRs was 58%, meaning that thean average property on average is rented 17 or 18 days out of a month. Knowing this, property owners can set daily and weekly rates at a level that ensures the property’s overall RevPAR covers expenses and provides pro t.
• ADR: is stands for Average Daily Rate. e di erence between RevPAR and ADR is that ADR focuses on income only when the short-term rental is occupied. Here’s an example: You as the property owner make $5,000 in revenue from your short-term rental in the month of April, and the property was rented for 16 of 30 nights. e ADR calculation is $5,000/16, or $312.50. On the other hand, the RevPAR calculation is $5,000/30, or $166.67. As this example shows, ADR shows the e ectiveness of rents, while RevPAR is a better metric when you start to evaluate cash ow and pro tability of your investment property because it considers short-term rental occupancy rates as well as rent amounts.
• ALOS: Average Length of Stay (sometimes abbreviated LOS): Knowing a short-term rental property’s ALOS tells an investor how many bookings it takes to provide the total days of occupancy. You can determine ALOS by dividing the number of booked nights by the number of unique bookings. Let’s return to our example of a short-term rental that is booked for 16 of 30 days. If that property was booked by six di erent guests (six di erent bookings) to cover those 16 nights, the ALOS would be 16/6, or 2.66. ese terms are a great starting point when considering an STR investment, but you’ll also want to consider locations to nd what states allow short-term rentals, and what speci c localities have short-term rental regulations and restrictions. e good news is that the current rental market proves that short-term rentals can be found and pro table almost anywhere, from urban areas to small towns, remote areas to vacation hotspots, so investors considering STRs have a wide-open slate of options. Dalton Elliott is the Director of Inside Sales at Lima One Capital.
24 www.charlestonbusiness.com August 22-September 4, 2022 Limited availability in select areas. Reliability based on network availability. AT&T Business Fiber now with Hyper-Gig speeds. Fast internet with the security and reliability you need to make large file transfers a breeze. Learn more at att.com/businessfast or call 1.844.740.FAST BusinessAbusinesswithsomuchbandwidthittransfersenormousfilesforfun.
