BEST ADVICE Jonathan Dawley President and CEO, Kion North America
PAGE 4 VOLUME 26 NUMBER 24 ■ CHARLESTONBUSINESS.COM
Part of the
NOVEMBER 16, 2020 ■ $2.25
network
Discount stores’ net sales rise during pandemic By Teri Errico Griffis
Aerospace in S.C.
Boeing’s expansion plans in North Charleston are part of a growing aerospace sector. Pages 15-26
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tgriffis@scbiznews.com
he pandemic has helped Americans appreciate the value in a dollar — and a dollar store. According to a third quarter report by Colliers International South Carolina, activity at discount stores is intensifying during the
pandemic as consumers look to buy goods at cheaper rates close to home. “What we’re seeing is discount stores are the big winners in the pandemic,” Colliers of Charleston Brokerage Associate Patrick Nealon said. “Dollar General’s net sales for 2020 quarter three are up 25% year over year, and that’s huge.” Dollar Tree and Family Dollar, owned by
Remote living
The pandemic drives sales in areas previously only considered for second homes. Page 10
Paul Haire of GrowFood Carolina holds a box of shishito peppers. (Photo/Anthony Mirisciotta)
Scoring S.C.
Credit scores across Southeast show consumer buying power. Page 3
Military and more
Lockheed Martin has been a longstanding part of S.C.’s manufacturing sector. Page 20
INSIDE
Upfront................................. 2 SC Biz News Briefs................. 3 Best Advice........................... 4 In Focus: Aerospace............ 15 List: Aviation & Aerospace Companies - Statewide.......24 Bonus List: Regional Airports................26 At Work...............................27 Viewpoint............................ 31
OUTGROWING A PANDEMIC Nonprofit pivots to safeguard farmland in South Carolina
By Teri Errico Griffis
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tgriffis@scbiznews.com
eading into 2020, more than 70% of GrowFood Carolina’s sales revenue came from aggregating produce from
state farmers and supplying it to restaurants. Then one mid-March day, chefs stopped calling and orders for locally grown goods ran dry overnight. See GROW, Page 6
Aerospace workforce Trident Technical College and others in the statewide system help fuel growing aerospace sector. Page 18
the same company, have both seen a 10% year-over-year increase. While Five Below, a chain that sells books, clothes and more under $5, only saw a small rise in its overall sales, it opened 62 locations in 2020 and will continue to open more, Nealon said. The company, which has a location at See STORES, Page 8
PPP forgiveness eased, as delays concern lenders By Andy Owens
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aowens@scbiznews.com
ost of the companies receiving emergency loans to retain jobs in South Carolina in the early days of the pandemic will qualify for a streamlined forgiveness program. That could mean more than $76 million would not have to be paid back by businesses in the Palmetto State. Small businesses in South Carolina used that money to save 134,506 jobs, according to Small Business Administration data. In the early days of the pandemic, South Carolina businesses borrowed more than $5 billion to save an estimated 658,000 jobs through the Paycheck Protection Program. Most of those loans in South Carolina were for $50,000 or less. Overall data from the Small Business Administration shows that 67.6% of the 63,168 Paycheck Protection Program loans written to companies in South Carolina were for smaller amounts. See PPP, Page 9