Charleston Regional Business Journal - November 21, 2022

POWER LIFTERS

Benefitfocus agrees to $570M deal for sale to Voya

By Ross Norton rnorton@scbiznews.com

Voya Financial Inc., a health, wealth and investment company, intends to buy high-profile Charleston company Benefitfocus Inc., a cloud-based benefits administration technology company.

Under terms of the agreement announced in a news release and during a stockholder meeting Wednesday, Voya will acquire all outstanding shares of Benefitfocus common stock for $10.50 per share in an all-cash transaction valued at approximately $570 million, inclusive of Benefitfocus debt and outstanding preferred shares.

Benefitfocus serves a brokerage and consulting firm in the health and benefits industry, working through its employer and health plan customers. The company says it “touches more than 25 million lives” on its platform. Combined with its own existing workplace customers, Voya will serve approximately 38 million individuals following completion of the acquisition, according to the news release.

SC Ports turning in strong performance since pandemic

By Krys Merryman kmerryman@scbiznews.com

The S.C. Ports Authority’s annual scal year 2022 report shows the Upstate experiences a $32.8 billion economic impact out of the $63.4 billion total impact attributed to the ports, with more than $5.5 million in capital expenditures poured into Inland Port Greer.

S.C. ports also bring in $1.1 billion in annual state tax revenue and account for nearly 117,000 jobs in the Upstate alone because of port-dependent businesses, including recent investments from companies such as BMW, Bosch and Walmart.

e SCPA is expanding Inland Port Greer to add more cargo and rail capacity to the railserved inland terminal, helping to speed goods

to market, according to the report. e expansion involves building additional rail processing and storage tracks within the terminal, expanding the container yard to the east and west, enlarging the existing chassis yard, and building new facilities for port operations.

Greer Mayor Rick Danner said Inland Port Greer is sort of a “hidden treasure,” an enigma for residents.

“From a statewide standpoint, there is undeniable impact the inland port has on the state, the Upstate, and the city,” said Danner. “It’s changed the ways we do business here and the growth of distribution models we see in the Greer area. We know there is direct impact to the city in regard to its presence here. But if you tell people there is

“Our acquisition of Benefitfocus is an exciting opportunity to accelerate our workplace-centered strategy and increase our capacity to meet the growing demand for comprehensive benefits and savings solutions at the workplace,” Heather Lavallee, president and CEO-elect of Voya Financial Inc., said in the news release “Benefitfocus’ exceptional talent, strong capabilities, and extensive reach across the benefits industry will expand Voya’s ability to deliver innovative solutions for employers and health plans, and help improve the financial, physical and emotional wellbeing of their employees and members. At the same time, Voya’s technology resources, digital capabilities, and operational expertise will add tremendous value to

The Upstate, with its diverse manufacturing base, is a big beneficiary of ports activities, according to a study. (Photo/SCPA)

Financial

provide

Money serves as the financial lifeblood for every region in South Carolina. Along with talent, raw materials and commercial real estate, access to capital consistently ranks among the top concerns for entrepreneurs and economic development o icials.

The financial services industry provides that access, including loans, lines of credit and other financial services that give businesses and entrepreneurs the ability to open, stay open and expand to meet increasing demand for products and services.

During the past 10 years, the money flowing into banks operating in South Carolina’s major markets has increased by double and triple digit percentage increases, an analysis of the latest data from the Federal Deposit Insurance Corp. show. Each year, the FDIC surveys the nation’s banks for a variety of economic indicators and reports the data for the fiscal year, ending June 30.

Comparing data from this year to 10 years ago shows that South Carolina’s major metro areas experienced at least a nearly 60% increase in financial deposits compared to 10 years ago, with some regions, including Charleston, Hilton Head and Myrtle Beach, showing a more than 100% increase.

Across the Southeast, hundreds of billions of dollars are deposited in financial institutions, with South Carolina banks showing more than $128 billion. With just over 16% each, Wells Fargo and Bank of America hold the majority of those deposits, FDIC data show, with Truist Financial coming in third with 12% of deposits. Those three banks alone account for more than 44% of deposits in the Palmetto State, with more than $56 billion in 2022.

Source: Federal Deposit Insurance Corp.

“That vision that was announced here today will only become reality if we

it, if we embrace the future, if we realize that we can’t get there by ourselves.”

— Sen. Lindsey Graham

SC Biz News Briefs

EPC Power, a producer of utility-scale power conversion products, will spend $5 million to establish operations in Greenville County, where the company will create 150 new jobs.

EPC Power manufactures American-made smart inverters suited for use in standalone energy storage, solar energy storage and data center backup power, according to a news release from the Greenville Area Development Corp. e company’s inverters enable the buildout of battery storage required to support the growth of renewable energy generation and are powered by advanced so ware and work with electrical grids to increase resilience, reliability, safety and security, the release said.

“EPC Power is very excited to expand our operations in Greenville County,” EPC Power Chief Operation O cer Bill Graham said in the news release. “ e skilled workforce and excellent supplier base will enable EPC Power to supply American-made inverters for use domestically and around the world.” e company says EPC inverters feature a compact and exible design, with a small footprint and industry leading performance to provide high power density and ease of integration into any system. CRBJ

ARichland County woman has been arrested and charged with assisting in the preparation of a false state sales tax return.

Bridgette Frederick, 39, of Blythewood, led a sales tax return for her husband’s funeral home business in June 2019, reporting zero sales for the rst quarter of 2019, according to the arrest warrant. In her role managing the funeral home’s website, which announced deaths and funeral arrangements, she was aware the sales tax return reporting no retail sales was not accurate, according to a news release from the S.C. Department of Revenue.

For the period in question, the funeral home had retail sales of $26,948. By ling the false return, she assisted her husband in evading an assessment of $2,156 in sales tax, according to the warrant.

If convicted, Frederick faces a maximum sentence of ve years in prison. CRBJ

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.

MAULDIN

COLUMBIA

GSA Business Report

Columbia Regional Business Report

ColumbiaBusinessReport.com

Jason Thomas, executive editor jthomas@scbiznews.com • 864.568.7570

Ross Norton, managing editor-content rnorton@scbiznews.com • 864.720.1222

Christina Lee Knauss, sta writer cknauss@scbiznews.com • 803.753.4327

Krys Merryman, sta writer kmerryman@scbiznews.com • 864.640.4418

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 Alford, multimedia account executive aalford@bridgetowermedia.com • 864.720.1223

Shannon Pollard, multimedia account executive spollard@scbiznews.com • 843.804.6094

Tony Rossi, multimedia account executive trossi@scbiznews.com • 864.720.1974

Jim Wheeler, multimedia account executive jwheeler@scbiznews.com • 843.849.3104

Events

Kim McManus, 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

Work wrapping on new $12M Hanahan complex

By Jason Thomas jthomas@scbiznews.com

Anew multi-use recreation project in Hanahan is nearing completion.

e $12 million Hanahan Recreation Complex is the rst to open since the city of Hanahan’s population has surged over the past several years, according to a news release from SeamonWhiteside.

e new complex is located in Hanahan o of Henry Brown Boulevard and adjacent to Bowen’s Corner Elementary School, will bring value to the city’s residents and the Berkeley County School District with many added facilities and recreational uses, the release stated.

e complex will o er dog parks, walking trails, courts for tennis, volleyball, and basketball, a playground, a multi-purpose recreation building, public parking, restrooms, picnic areas including a covered pavilion and synthetic and natural sports elds, according to the release.

SeamonWhiteside is the lead consultant on the project and has worked closely with the city since 2016, the release stated. e rm provided programming/ master planning, budgeting assistance, CDs, permitting, bid administration and procurement, and construction administration.

e Hanahan Recreation Complex began construction in June 2021 and is now nearing completion, with an expected nish and open date in early 2023.

“ e project is nearing the nish line, and we can’t wait for the city of Hanahan residents to experience what we’ve been working on over the last several years. Located just steps away from Bowen’s Corner Elementary School, this will be a convenient and accessible resource for the community,” Jennifer Palmer, direc-

tor of the SeamonWhiteside Summerville O ce, said in the rlease. “A fun fact about this project was the property used to be owned by the Federal Government Joint Base Charleston and was part of an old blast zone for testing missiles.

“All of the natural wetlands remain undisturbed and we utilized a timber bridge, designed by York Bridges, with a very natural park-like aesthetic for the road crossing spanning the wetland to join the two sides of the complex. It is thrilling to see it all come to life and I cannot wait to see it being utilized by the community.”

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

CRBJ

Other contractors on the project include Southeastern Surveying, ECS, Critical Systems Engineering, McSweeney Engineers and architect Chris Karpus.

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.

NWS Company LLC

A portfolio company of BridgeTower Media

South Carolina’s Media Engine for Economic Growth

“We can’t wait for the city of Hanahan residents to experience what we’ve been working on over the last several years.”

Jennifer

Palmer, Seamon Whiteside Summerville

CSU aeronautics program achieves FAA designation

By Ross Norton rnorton@scbiznews.com

The aeronautics program at Charleston Southern University, launched a year ago, has achieved designation as a Part 141 pilot school this fall.

Federal Aviation Administration-certi cated pilot schools are regulated in accordance with Title 14 of the Code of Federal Regulations part 141, according to the FAA. “Part 141 pilot schools are required to use a structured training program and syllabus,” the agency’s website says. “Part 141 pilot schools may be able to provide a greater variety of training aids and require dedicated training facilities, ight instructor oversight, and FAA-approved course curricula. Colleges and universities, which may o er aviation degrees, o en provide pilot training under part 141.”

Charleston Southern University is the only institution in the state to o er a Bachelor of Science in Aeronautics, according to a university news release. Prior to CSU establishing the program, South Carolina was one of only two states without a collegiate aeronautics program.

“God is doing such marvelous work here at CSU that I am humbled and grateful for the opportunity to cross the threshold of my o ce every morning,” Lloyd S. Richardson, interim chair of the program,

said in the news release. “Outside observers can see that the students are greatly blessed and ful lled by the ight training and comradery.”

Richardson, who is the chief instruc-

tor for the program, said the designation means the provisional pilot school must graduate 10 students from an approved course with a pass rate of 80% or higher. CSU’s written pass rate is 94.74%, the

release said. Next, current and accurate records on each student and instructor are maintained and then shared with the FAA for inspection. CSU’s recordkeeping was graded at 100%. Finally, the school must employ a chief instructor who has a minimum of one year of experience teaching at a certi cated pilot school.

CSU President Dondi Costin said in the release, “We launched the aeronautics program so we could do our part to remedy a growing problem the world faces, namely, the global shortage of quali ed pilots. Charleston Southern exists to equip our graduates to serve at the intersection of God’s plan for their lives, their personal passions and the world’s unmet needs.”

e Charleston Southern University aeronautics program is a part of the College of Science and Mathematics. e program o ers three degree options, including aeronautics-professional pilot, aeronautics-aerospace management, and aeronautics-aviation maintenance management. Students in the professional pilot program can choose between three types of aviation tracks: commercial, military or missionary. Students who graduate from the FAA-approved degree program at CSU will be eligible to receive an R-ATP (airline transport pilot) at 1,000 or 1,250 hours as opposed to an unrestricted ATP at 1,500 hours. CRBJ

Harrison Hunt, the first CSU aeronautics student to take a solo flight, is a junior aeronautics-professional pilot major. (Photo/CSU)

Women in manufacturing share words of wisdom

By Krys Merrryman kmerryman@scbiznews.com

“When one of us wins, all of us win,” said Nika White, president and CEO of Nika White Consulting and event moderator, when she took the stage at the Women in Manufacturing: Leaders and Influencers conference at the annual 2022 South Carolina Manufacturing Conference and Expo on Nov. 4.

Women make up 47% of the total workforce; however, women account for only 30% of the 16 million people employed in manufacturing in the United States, and less than 25% are leaders in the industry, said White.

“As we think of breaking the proverbial glass ceiling, it’s important we celebrate the progress, the wins, the evolution of women showing up every day in this industry, impressing us with their prowess and leadership,” she said. “We have to make sure we are making room for more women.”

A sponsor of the conference, Nephron Pharmaceuticals Corp., said 62% of its workforce is female, closing the gender gap in a generally male-dominated industry. Ellison Murray, Nephron Pharmaceuticals sta development coordinator, said being surrounded by so many inspiring women at the company, led by CEO Lou Kennedy, is incredible.

“It’s a company that revolves around women upli ing other women,” said Murray. “Having a women-dominated company in a male-dominated industry

really brings a family aspect to the culture. I feel comfortable going to anyone — male or female — in the company and asking for help, and I think that’s a really unique experience to Nephron.”

Speakers Monica Johnson, Michelin North America talent acquisition director; Carrie Bonvender, Grand Forest Inc. president and CEO; Laura Bordeaux, Zeus Industrial Products ASC plan manager; Mary Ellen Grom, AFL executive director of customer experience solutions; and Donna Brin, bFIVE40 president and CEO, also took the stage with White in a Q&A-style interview.

Johnson: ‘If you stay ready, you don’t have to get ready’

Many people think of us as just a tire company, but we are also in the business of economic mobility. South Carolina is home for us. e world is changing, and the dynamic of the workforce is changing, especially with women in the manufacturing industry. Climbing the corporate ladder was a little di erent for me. My advice is to be open to di erent challenges and opportunities and be ready to show up. If you stay ready you don’t have to get ready.

We do a lot to make sure we are bringing in the right talent that represents the community in which we live and work. We focus on diversifying and having a broad perspective to ensure we are getting the right candidates while also showing the community who we are. We look at leveraging bene t o ers so they are attractive to a diverse group of people

to make sure our women can work and are taken care of such as our milk program. If you are a working mother who needs milk, we have a program to have milk delivered to their home.

We need to change the narrative that this is what working in manufacturing looks like. e game has changed. e skillsets needed have changed. It’s not your everyday job turning a wrench or wearing a hardhat. We start with young girls and changing the narrative they are used to hearing. Having male mentors is also important, especially when they have the “just do it” mentality and believe in us getting the job done. Reaching out and asking for help as early on as possible is also critical. One of the things I’ve learned, especially during the pandemic, is to take time for yourself and rejuvenate.

Bonvender: ‘I felt the power to say I take ownership of making decisions’

I didn’t anticipate being the change all of a sudden. I felt the power to say I take ownership of making decisions when I took over the company, and it makes a difference to have that, especially while making a di erence in people’s lives.

We have a very diverse group at Grand Forest. When we rst started, we had one male on sta . Apparel is typically a women-dominated eld, but we also have a lot of roles for men, too. But I love taking people up the ranks who have been with the company for years. at has been a great part of our company to have many people who have worked in many di erent areas of the company.

If I look back, I wouldn’t tell myself to make it “easier” because meeting the challenges throughout the years have made me who I am today.

Bordeaux: ‘It’s all about the environment we create’

I have been in the manufacturing industry for more than 15 years and was the rst female plant manager for Zeus. When I joined the team, I had to dig in and gure out how to build devices. As I progressed, I embraced the culture and learned the culture. en I started receiving messages from women around the world who said they were proud of me and you are doing this for us. e realization came to me that I’m here in my position representing not just me but but every woman. Zeus never made me feel I couldn’t do it nor made me feel like it was a barrier to get where I’m at. Our workforce going forward will no longer say ‘I can’t do that because I’m a female.’

In any eld, mentorship is important. From a woman in manufacturing standpoint, there is only a small percentage in leadership. e more you encourage and support your sta the more we can li each other up as we go. Work toward closing the gender gap, building women up from the inside is key, but how do you get them in the door in the rst place? It’s all about what environment we create. Young girls aren’t thinking they want to be a manufacturing leader when they grow up. We open the door and show them these aren’t just things boys do. When I was younger, I always tried

A panel of leaders in manufacturing shared thoughts on succeeding in the industry and increasing the number of women in it at the 2022 South Carolina Manufacturing Conference and Expo. (Photo/Krys Merryman)

Lifetime achievement award goes to Screwmatics owner

By Ross Norton rnorton@scbiznews.com

Thomas Hogge was presented the Chuck Spangler Outstanding Manufacturing Lifetime Service Award during the SCMEP Salute to Manufacturing Awards earlier this month.

e awards luncheon was the capstone event of the annual South Carolina Manufacturing Conference and Expo presented by SC Biz News and the S.C. Manufacturing Extension Partnership, the organization guided for years by the late Spangler.

Hogge is president and owner of Screwmatics of South Carolina Inc., a large manufacturer that provides CNC and screw machine produced component parts to a wide variety of industries, including medical, plumbing, welding, aerospace, power transmission, industrial switch, automotive and electrical.

Hogge credits his management style, which places him more o en on the shop oor than in the front o ce, for creating an atmosphere where emphasis remains on constant improvement of processes, quality assurance and customer service. A former instructor for Florence-Darlington Technical College, Hogge believes it is important to continue education and training; he pushes his team to stay on top of new technologies and processes.

Hogge has guided the company

through growth, including the addition of state-of-the art equipment and expansion of the 140,000 square feet of workspace at its Pageland campus, where 140 members of his team work on two shi s.

“Tom Hogge and his company represent the ethic, the creativity and the gumption of the South Carolina manufacturing community,” said Rick Jenkins, group publisher of SC Biz News and director of the manufacturing conference. “It’s appropriate that he has earned the Chuck Spangler award because Chuck dedicated so much of his life to raising the manufacturing industry to higher standards.”

SCMEP plays a key role in the conference, o ering training courses to help make manufacturers better.

Andy Carr, who was named president and CEO of SCMEP a er Spangler’s death last year, applauded Hogge and the other winners.

“ is group of manufacturers — and all of those nominated for these awards — represent an incredible diversity of product, size and geography in South Carolina,” Carr said. “It thrills me to work with these companies, from the large ones like Savannah River Nuclear Solutions and their 6,000 employees down to the small

shops creating and making products in every corner of the state.”

Other awards presented during the SCMEP Salute to Manufacturing luncheon included:

• Savannah River Nuclear Solutions LLC was awarded the Community Impact Award.

• e Emerging Manufacturer of the Year Award went to technical textile company bFIVE40. Finalists for the award were alimex Precision in Aluminum Inc. and Toll Solutions LLC.

• KION North America was named the Innovator of the Year while Sargent Metal Fabricators was a nalist for the Innovator of the Year Award.

• Sargent Metal Fabricators was the winner of the Outreach Award, however. Finalists for the Outreach Award were Boeing South Carolina and Worksman Cycles.

• e Tranformation and Operational Excellence Award went to Sealevel Systems Inc. Finalists in the category were alimex Precision in Aluminum Inc. and Savannah River Nuclear Solutions LLC.

• Smart Move SC New Plant Awards were presented to Oshkosh Defense LLC, Premium Peanut LLC and Accudra Finishing Systems.

• Smart Move SC Expansion Awards went to Arthrex Inc., 3D Systems Corp. and Queen Wood Products. CRBJ

T HANK YO U to our sponsors and fr i end s for supporting o ur education programs , the heart of what we do.

Robot dog aims to boost interest in tech careers

By Christina Lee Knauss cknauss@scbiznews.com

See Spot dance!

at was the phrase of the moment Nov. 3 at the S.C. Manufacturing Conference and Expo in Greenville as attendees got to witness the dance moves of a bright yellow robotic dog named Spot who will soon be the face of arti cial intelligence for thousands of students around the state.

Spot is part of a new approach to attracting young people to the tech workforce from SC Tech, an initiative of the South Carolina Council on Competitiveness designed to promote information technology and other tech jobs around the state.

e council sponsored “Arti cial Intelligence is a Game Changer,” an event where people got to meet Spot and hear about e orts to get young people interested in the tech skills that will be needed by workers in manufacturing and other industries.

“We’re working hard to get an AI curriculum into all of our schools, and this is going to be a big part of it,” said Kim Christ, director of SC Tech. “South Carolina is the rst state that has procured Spot for use as part of an AI curriculum, and we hope this will be a pathway to get more students interested in the technology.”

Spot robots were introduced in 2019 by Boston Dynamics and about 400 are currently in use around the country in a variety of industries from manufacturing to mining. One of the robot canines even explored the volcanic ruins in Pompeii earlier this year, according to a report in Smithsonian Magazine — an example of how the robot is useful in situations that could be unsafe or di cult for human workers.

Spot won’t be facing any danger in South Carolina, however. Instead, the robot, which weighs more than 100 pounds, will be visiting school districts around the state beginning next year.

While Spot might be a hard worker, he also has rhythm. Techno music blared from nearby speakers at the conference and attendees got to see Spot “dance” by

following moves programmed by a worker with a nearby laptop. e dog performed a series of gyrations and bends, extended its “neck” to look out over the audience, and even jumped into the air a few times.

Christ said once the robot dog is in the classroom, students will be able to learn how to write programs that will enable them to choreograph entire dances for it.

e name Spot is also not going to stick around long. To kick o the program, SC Tech is going to sponsor a naming contest for the dog at the beginning of the next school year.

Keynote speaker John McElligott told attendees this type of innovative approach to teaching AI technology is more cru-

cial than ever because too many students lack skills to work with technology that is already being used on today’s factory oors and in other industries.

McElligott is founder and CEO of York Exponential, a Pennsylvania-based collaborative robotics and arti cial intelligence company. He has been in South Carolina recently working with the Lakelands Emerging Technology Council in Greenwood and talking with middle- and high-school students.

“Studies show that in the near future, about one-third of the population is going to be unemployable because education and business can’t keep up with the way technology is evolving,” he said. “We have

teenagers today that have been told by their parents they were geniuses because they could work a tablet. ey’re not.

ey’ve been told they’re tech-savvy and they’re not. ey need to be learning skills to deal with future technology.”

McElligott recently worked with students in the area’s rst AI high school art contest. He said tech skills can not only enhance employability but also improve quality of life.

“I’m telling students that in the recent past, Google and Facebook got it wrong with how they used technology because they treated people like data points,” he said. “I want them to be able to use their tech skills to make a di erence.”

to minimize my gender, but then I learned to just be who you are.

Grom: ‘I wasn’t given an opporturnity; I earned it’

I wasn’t given an opportunity; I earned it. All of us have a story to tell and have to be proud of our reputation and what we have accomplished. It’s sometimes overwhelming and exhausting but not hard. It’s important to fuel competition instead of fearing it. You want to get ahead of your competition and do something di erent.

e Women in Manufacturing organization is here to inspire all women of all walks of life in the industry. When we talk about normalizing this industry, there isn’t anything abnormal about it now. We just need to adapt to the changing times such as with our younger generations, especially speaking to them on the proper social media channels. We have to use our voices to elevate. We are on a lifelong learning journey and have to continue to invest in ourselves and in others while continuing to learn.

Brin: ‘You have to make mistakes and fail and pick yourself back up’

With everything we do at bFIVE40, we are changing the status quo by hiring not only women but people with disabilities, using sustainable materials to reduce toxic waste, and having apprenticeship programs with local colleges for the good of tomorrow. Being here in South Carolina, there are incredible amounts of support and resources in addition to networking opportunities, which is paramount to our success, such as the S.C. Dept. of Commerce, S.C. Council of Competitiveness, and the state government. We can’t imagine being here without it. Being able to leverage the resources available to us is crucial.

You have to make mistakes and fail and pick yourself back up and learn — then do it all over again. It’s hard to maintain condence when you make mistakes, but you have to wear it on your sleeve and gure it out while surrounding yourself with people who li you up. It’s our responsibility to show young girls there are pathways for them in our industry. When a woman nds success, they didn’t used to want to share it because it took so much to get there. But the dynamic is changing, and every woman can have success now with so many opportunities available to them.

A robotic dog, named Spot for now, hopes to attract young people to tech careers. (Photo/Ariel Perez)

BENEFITFOCUS,

from Page 1

Benefitfocus as it seeks to accelerate its growth and delivery of world-class services to more clients and partners.”

“We are excited to become part of Voya — bringing Benefitfocus’ portfolio of innovative solutions and services to support the health and wellbeing of more customers through the creation of an end-to-end continuum of offerings across health, wealth and investment,” Matt Levin, president and CEO of Benefitfocus, said in the release. “This transaction delivers significant and immediate value for our shareholders, broader opportunities for our associates, and strengthens our go-to-market offering with Voya’s platform of workplace-centered services and solutions.”

Less than 24 hours after the announcement, Benefitfocus stock was up $3.99 a share to $10.36 on the Nasdaq stock exchange.

Benefitfocus will continue to operate as a distinct business under Voya’s ow nership, the news release said.

“This acquisition allows us to expand our capabilities and insights for our customers, while preserving the strength and breadth of our distribution reach,” Rob Grubka, CEO, Health Solutions, Voya Financial Inc., said in the release. “Our commitment to an open-architecture, product-agnostic approach at Benefitfocus, and to maintaining strategic partnerships with both clients and intermediaries, is unwavering. Voya will continue to offer valuable and competitive benefit products and solutions, and we will do so across industry platforms and in partnership with brokers.

“The capabilities and expertise that we gain with Benefitfocus as part of the Voya family will allow us to better serve other benefits administration providers; help brokers with their value proposition to employers; and create powerful, connected experiences with customers and partners across the workplace benefits industry,” added Grubka.

The transaction was unanimously approved by Benefitfocus’ board of directors and is expected to close in the first quarter of 2023. The deal is subject to customary closing conditions, including approval by Benefitfocus’ shareholders.

Perella Weinberg Partners LP is serving as financial adviser, and Cleary Gottlieb Steen & Hamilton LLP is serving as legal counsel to Voya in connection with this transaction. Barclays served as financial adviser, and Sullivan & Cromwell LLP served as legal counsel to Benefitfocus.

Voya has approximately 6,000 employees and had $644 billion in total assets under management and administration as of June 30, 2022. CRBJ

Charleston group buys 3 hotels

TMGOC Ventures, a partnership between Charleston-based e Montford Group and Opterra Capital, has closed on the acquisition of three select-service Marriott- and Hilton-branded hotels totaling 430 rooms in Myrtle Beach, Charlotte and Roanoke Rapids, N.C.

TMGOC acquired a portfolio comprised of the fee simple interests in the 135-room Courtyard Myrtle Beach Broadway, the 147-room Hilton Garden Inn Roanoke Rapids, and the 148-room Courtyard Charlotte Airport, the release stated.

TMGOC will invest in substantial physical enhancements across the portfolio while optimizing operations to drive market share and increase pro tability, the release stated. e company hired Aimbridge Hospitality, the nation’s largest third-party hotel management company, to operate the North Carolina hotels; Marriott manages the Courtyard Myrtle Beach, according to the release.

Financial terms of the deal were not disclosed.

“We will continue to take advantage of the market dislocation for hospitality acquisitions through the remainder

of 2022 and 2023 as we continue to seek o -market acquisitions and compelling development opportunities in premier, high-growth locations with healthy business and leisure demand.” said Sunju Patel, founder and CEO of  e Montford Group, in the release.

e Carolinas portfolio caps an acquisition streak of six hotels and hotel developments this fall for TMGOC, which includes the recently acquired Hilton Garden Inn Miami Beach and Alo Charleston Airport, the release stated. In the last 18 months, the partnership has raised over $120 million in equity.  CRBJ

Veteran-owned company supports nonprofit fundraising through social media

By Jenny Peterson

What started as a way to solve a fundraising problem for nonpro ts has now become one of the most rapidly growing companies in Charleston and in the country.

It’s an entrepreneurial success story for Nick Black, a retired Army captain, Airborne Ranger and Afghanistan combat veteran who lives in Charleston.

It all started with the creation of a nonpro t to help veterans at risk for suicide. In 2010, Black heard the sobering news that a solider in his company took his own life a er returning home from Afghanistan.

“I can’t tell you what it’s like to ght every single day and then come home and it’s the biggest celebration of your life, and then two weeks later, one of your guys kills himself,” Black said. “I learned we lost more men to suicide than the enemy.”

Black, along with two other veterans he met at business school at the University of North Carolina, co-founded the nonpro t Stop Soldier Suicide to nd a way to identify and reach distressed veterans through social media before it’s too late.

e organization uses data science and Adtech to reach veterans, similar to how companies like Amazon and Petco predict you’re about to buy a product.

“If (clothing brand) Banana Republic can gure out what (exact) second to get in front of you with the right ad, what if we could, too?” Black said.

Stop Soldier Suicide connects veterans with peer-to-peer counseling, social workers and other support.

Stop Soldier Suicide also uses military-style forensic computer auditing in its mission to prevent veteran suicide, reaching out to family members of soldiers about combing through their smartphone and computer to try and map out common behaviors in the weeks, days and minutes leading up to a tragedy with the hope of preventing it through social media messaging.

Four years a er creating Stop Soldier Suicide, Black found that fundraising was a major hurdle in continuing the group’s important work.

“We threw a fundraising event that cost us $20,000 and it raised $30,000,” Black recalls.

He said that experience helped mobilize him to come up with a better way for nonpro ts, like Stop Soldier Suicide, to raise funds.

Launching GoodUnited

In 2014, Black and fellow business school graduate Jeremy Berman co-founded GoodUnited, a fundraising platform for nonpro ts, like Stop Soldier Suicide, to engage potential digital donors and maintain relationships through social media.

Berman had ties to Charleston and wanted to locate the company in the Lowcountry. Black moved from Raleigh, N.C., to Charleston to launch the startup. It was privately backed by venture capitalists and other raised capital.

With GoodUnited’s arti cial intelligence technology, non-pro ts tap into their existing social media community and engage with potential digital donors through social media messenger apps about where donors are from, what causes are important to them and letting potential donors know about local events that support those causes.

“We can meet you where you are at in Facebook, in Instagram, wherever that might be; we build the technology on top of Messenger, on top of these conversational messaging platforms,” Black said.

An important aspect of the platform is providing a donor experience for digital donors who give modest amounts.

“For the average American, what’s our experience when we give money to a nonpro t?” Black said. “At best, we signed up for the world’s worst email (subscription). You make it through that, and you get to the world’s worst landing page. Jeremy and I came together and said, ‘ is doesn’t make sense.’”

By engaging donors through social media messaging, GoodUnited has

helped come up with unique fundraising campaigns that include incorporating donations into baking challenges, physical challenges and other viral trends.

Black said that the average digital donation to Stop Solider Suicide is $33, but amounts add up signi cantly as digital donors remain engaged and feel appreciated, resulting in people more likely to stay connected with a nonpro t and continuing to donate.

GoodUnited began to grow rapidly since 2018, lling a clear gap in online fundraising. It now has around 100 clients that include some of the largest, most recognizable nonpro ts in the country, including e American Cancer Society, the Susan G. Komen Foundation, the American Heart Association and the Wounded Warrior Project.

“We have helped the world’s largest non-pro ts raise over a billion dollars,” Black said. “Over 90% of donors were net new donors.”

is year, GoodUnited landed as number 460 on the annual Inc. 5000 list — the most prestigious ranking of fast-growing private companies in America. GoodUnited ranked as No. 1 in Charleston and No. 2 in South Carolina.

GoodUnited now has 125 employees worldwide — 50 working out of the headquarters in downtown Charleston. Employees include data engineers, marketing teams, account specialists and sales teams. ere are also full-time contractors worldwide.

Black has personally seen the bene ts of the fundraising platform help Stop Soldier Suicide’s mission, which motivates him to continue to grow and add new technology features.

“Using GoodUnited, we’ve raised $28 million for Stop Soldier Suicide. Before GoodUnited, we raised $2 million,” Black said. “We’ve grown it to the third-largest veteran-serving organization with a sta of about 80 out of Raleigh. Stop Soldier Suicide is going to accomplish its mission if, and only if, GoodUnited is able to accomplish its mission.”

Social change through technology

Fundraising is big business; Americans donate more than $484 billion in charitable giving each year and more than $326 billion donated by individuals, according to the National Philanthropic Trust organization. ere are 1.54 million charitable organizations in the United States.

Nonpro t clients pay GoodUnited a fee to use its technology and keep 100% of the money raised from donors.

While GoodUnited and Stop Solider Suicide are di erent entities, they both rely on technology and social media to accomplish their goals.

“For Stop Soldier Suicide, we have invested a lot of money into data science technology and we’re working with all parties to gure out how to do even better,” Black said. “We are asking, how can we take (ad) technology understanding and apply it to a social issue?”

Future markets

GoodUnited clients are large recognizable consumer-facing nonpro ts mostly based in the United States that already have a large social media community, but clientele is growing worldwide.

Black said new features will be added soon to GoodUnited’s suite of o erings to support non-pro ts who don’t have as large a social media community.

“We have features coming out where tens of thousands, if not hundreds of thousands of non-pro ts, can use,” Black said.

ere is also a market to expand to nonpro ts beyond those that support arts and culture and medical research.

“ ere’s a whole nonpro t world for schools and universities and another world with churches. We’ve been approached by universities (for fundraising),” Black said.

He said his mission has been to solve the problems he has found the most discouraging in his personal life and feels the pull to put all of his time and energy into making the world a better place.

“I can’t stand trying not to solve big problems,” Black said.

Announcing: Here are the 2022 CRBJ Health Care Heroes honorees

Staff Report

The Charleston Regional Business Journal has announced the honorees for its Health Care Heroes program.

Winners in each category will be announced at an event on Nov. 30 at the Francis Marion Hotel in downtown Charleston. To register for the event, go to https://bit.ly/crbj22hchtix.

• Naomi Buytas, EMT, Roper St. Francis Healthcare

• Ryan Roberts, Captain, Charleston County EMS

HEALTH CARE ENGINEER

• Tom Franzone, Multi-skilled technician III, Roper St. Francis Healthcare

• Van Hauser, Director of Facilities Management, HCA Healthcare/Summerville Medical Center

• Robert McNeil, Engineering Tech III, Roper St. Francis Healthcare

• Steven Kahn, Chief of Burn Surgery, MUSC

• Stephen Stripling, Doctor, Coastal Pediatric Associates

SERVICE/THERAPY ANIMAL

• Braelynn Gunn and Viper Mansson, Facility Dogs, Dee Norton Child Advocacy Center

• Sara Sezginalp, Pet Therapy Volunteer, Medical University of South

Carolina

• Mulligan Sullivan, Pet Therapy Volunteer, Roper St. Francis Healthcare

VOLUNTEER

• Tom Russo, Summerville Medical Center

• Warren Richey, Ralph H. Johnson VA Health Care System

• Bonny Luthy, Volunteer, Roper St. Francis Healthcare CRBJ

This annual event honors individuals and organizations that have a passion for health care and compassion for patients.

Heroes, indeed.

The event is presented by CRBJ and Trident Construction. Sponsors for the event are MUSC Health and Roper St. Francis Healthcare.

Here are the honorees:

COMMUNITY OUTREACH

• Maria Dzierzko-Trojanowska, Internal medicine physician, Roper St. Francis Healthcare

• Brooke Kahn, PA, Roper St. Francis Healthcare

• Drs. Michelle Cooke and Kathleen Domm, Select Health of SC

HEALTH CARE PROFESSIONAL

• Hannah Pendergrass, Physical therapist, Roper St. Francis Healthcare

• Kyle Prothro, Sports Medicine Manager, Roper St. Francis Healthcare

• Emergency Department, Summerville Medical Center

NURSE

• Anna Blake, Registered Nurse, MUSC Charleston

• Jennifer Boolen, Registered Nurse, MUSC Charleston

• Carrie Moore, Nurse ManagerRN, MUSC - Charleston Division

PHYSICIAN

• Matt Blue, Emergency medicine physician, Roper St. Francis Healthcare

Merrill Gardens Greenville

BMW opens Vehicle Accessories Center near Greer plant

By Ross Norton rnorton@scbiznews.com

BMW of North America opened a new Vehicle Accessories Center in Greer to enable the company to “factory install” a range of vehicle accessories on the BMW Sports Activity Vehicles built nearby at Plant Spartanburg before to the vehicles are delivered to dealers.

e new 60,000-square-foot facility represents an investment of nearly $25 million and creates about 60 new jobs, the company said at the Nov. 14 ceremony.

e BMW Vehicles Accessories Center will support all 350 BMW dealers nationwide by installing a full range of exterior and interior accessories including wheels, body parts, decals, M Performance parts, interior trim pieces, oormats, roof accessories and more.

“ is new vehicle accessories center embodies our commitment to delivering the best premium customer experience in the industry,” Sebastian Mackensen, president and CEO of BMW of North America, based in Woodcli Lake, N.J. “By factory installing accessories before delivery to the dealer, vehicles arrive already as ordered by customers. is will provide for a more e cient process and quicker delivery times for our customers.”

e facility speci cally supports Plant Spartanburg, which currently builds

approximately 60% of the BMWs sold in the United States, including the best-selling BMW X3, BMW X5 and BMW X7. Plant Spartanburg will begin production of the newest BMW X model, the rst-ever BMW XM, this December.

Fall has been an active time for BMW announcements.

BMW Manufacturing opened a $100 million logistics center Sept. 29, assembled the 6 millionth vehicle made at Plant Spartanburg the next day and opened a $20 million training center Oct. 7. In the middle of it, the company recognized the 30th anniversary of breaking ground for the plant and then announced $1.7 billion plans to grow some more. e rst billion will go to expand Plant Spartanburg and another $700 million will build a new battery production facility in Woodru .

By 2030 BMW Group will build at least six fully electric models in Spartanburg County, Zipse said. “You will not believe how big that factory is going to be,” he told a crowd that included local, state and national politicians, including Woodru Mayor Kenneth Gist, who said Woodru employees were hanging “Welcome BMW” banners even as the announcement was still underway in Greer.  e logistics center, called LCX, is on Freeman Farm Road in Greer, billed by BMW as a “more e cient, sustainable and digital operation” in keeping with company e orts to stay ahead of changing technology.

BMW Manufacturing President and CEO Robert Engelhorn said LCX combines two warehouses into one facility, “making our processes faster, leaner and

advancing technical skills in a changing automotive industry. It will have an additional economic impact on the Upstate economy by attracting people from BMW operations across North America for training.

e 68,000-square-foot training center includes classrooms for professional development and technical training, an amphitheater and an outdoor meeting and workspace that includes wireless capabilities.

e center is near the manufacturing plant o S.C. Highway 101 in Greer. It will be the North American training hub for all future technologies for BMW associates tasked with mastering state-of-theart skills to stay ahead of industry standards, according to a news release.

of North America

BMW Group Chairman Oliver Zipse, in Greer to make the announcement and in the United States for a tour that including showing o the new BMW XM, stressed that the new batteries that will power BMW vehicles into the future will be BMW designed and made, not purchased from suppliers.

more e cient.” He said the center incorporates elements of the BMW iFactory strategy, which de nes the future of automotive manufacturing for all of BMW production worldwide.

e $20 million training center was built with a goal of promoting creative learning, fostering innovation and

“Our associates are rising to the challenge to make the BMW Group electric, digital and circular,” Ilka Horstmeier, a member of the Board of Management of BMW AG, said in the news release. She also is director for people and real estate, labor relations. “ is new training center will give the entire Plant Spartanburg team the environment to learn and grow their careers and meet the demands of our customers worldwide rough training in digitalization and future technologies, we will ensure that the BMW Group remains the leader in mobility and is an attractive workplace for future generations.”

Make an impact of your own.

“This new vehicle accessories center embodies our commitment to delivering the best premium customer experience in the industry.”

Sebastian Mackensen, BMW

an inland port in Greer, you typically get a blank stare.”

Most people don’t know what it does or what it’s about or that it’s even here, he added. e port is industry-speci c and while it propels a lot of what goes on in the Upstate, there is still a lack of understanding the importance it plays in commerce in the region and the state.

SCPA promotes, develops and facilitates waterborne commerce to meet the current and future needs of its customers, and for the economic bene t of the citizens and businesses in the state.

rough creating jobs on the waterfront and supporting indirect jobs at port-dependent businesses around the state, the ports authority has a world-class port that attracts many companies to invest in new facilities and expand existing operations, which in turn, creates more jobs for South Carolinians, driving economic growth in the state, according to the report.

SCPA President and CEO Barbara Melvin said in the report, “Every container we move represents an economic opportunity. We are so grateful to our state leaders for their bold vision and for understanding what South Carolina businesses need to be successful. Because of their support, our strategic investments in critical port infrastructure will yield dividends to South Carolina for decades to come.”

Following the most successful scal year in SCPA history, it continues to thrive as a “smarter port operator” and strong maritime community, Melvin added.

S.C. ports handled unprecedented cargo volumes in scal year 2022, according to the report, setting twenty-foot equivalent unit records for 11 months out of the year. A TEU is a unit of measurement used to determine cargo capacity for container ships and terminals. e Port of Charleston moved a record 2.85 million TEUs in the previous scal year, which is up 12% from the prior year.

“Record imports drove this growth, while ongoing pandemic disruptions revealed constraints in the global supply chain,” Melvin said in the report. “Our port team was put to the test, working tirelessly to deliver goods to communities, hospitals, manufacturers and retailers. We implemented creative solutions, including prioritizing vessels, leasing new S.C. ports’ chassis, hiring 150 people in operations and extending gate hours. ese measures bene ted customers and improved the lives of motor carriers.”

e critical infrastructure in place at S.C. ports is possible with the support of the South Carolina Legislature and S.C. Gov. Henry McMaster, the report said.

e Legislature and McMaster approved $550 million to fund key infrastructure projects, according to the report.

“ rough well-planned, targeted investment, South Carolina Ports has

positioned itself as a top driver of South Carolina’s economy,” said McMaster. “Our investments into critical port infrastructure have attracted world-class companies to South Carolina and helped our existing businesses thrive. S.C. Ports keeps South Carolina globally competitive and creates great jobs for our citizens. We look forward to the continued growth of our port.”

e funds from the state are crucial as

the port continues to grow, said Danner. “We will continue to meet the needs here over the next decade and beyond while continuing to expand, grow, and adopt new technologies,” said Danner. “Charleston is open to new means of technology, and these funds are money I can guarantee will be well spent and will leverage a lot more than the port spends in terms in what it means to the state.”

Also, most jobs in the Upstate have

a direct correlation to the port, Danner added. It’s an economic driver that most people don’t realize how important it is to the economy of the state, he said.

“We are fortunate that our state leaders understand that S.C. Ports is a tremendous economic engine for South Carolina,” the report added.

SCPA Board of Directors Chairman Bill Stern said having a top U.S. container port in the state is an economic advantage.

“South Carolina Ports attracts companies to establish new operations, bringing billions of dollars and thousands of jobs to our state,” he added. “Port operations also support our well-established partners, many of whom have moved goods through the Port of Charleston for decades and continually grow their workforces. Port-dependent businesses bene t from having a well-run port in their backyard.”

is is true of South Carolina’s biggest companies such as advanced manufacturers, automakers, mega retailers and health care systems — as well as many small business owners and agricultural producers who depend on access to global markets, he said.

“S.C. Ports will continue to grow, bringing jobs and investments to our state,” said Melvin. “Our port investments will yield economic bene ts for generations to come.”

With mountains in the distance, Inland Port Greer is far from its sister ports on the coast, but nevertheless a growing part of the system. (Photos/Provided)

Graham: Electrification too big for 1 company

By Ross Norton rnorton@scbiznews.com

Amid the exuberance during BMW’s recent announcement of $1.7 billion investment in two Upstate projects, it was Sen. Lindsey Graham who, though full of praise for the automaker, said BMW can’t do it alone.

Electri cation of the U.S. automobile eet is an undertaking too big for one company and too big even for the business sector alone, he said.

“ at vision that was announced here today will only become reality if we earn it, if we embrace the future, if we realize that we can’t get there by ourselves,” Graham said as one of the speakers at BMW’s announcement last month, which was hosted by BMW Group Chairman Oliver Zipse from Munich. “ at government and business must be partners. You can’t do this, Mr. Chairman, without the help of state and local and federal o cials so here’s the one thing I want to pledge to you and all your associates: South Carolina will be there for BMW as you transform your company. What you’ve got (in government support) over the last 30 years, you will get for the next 300 years.”

Graham called BMW’s plans to invest $1 billion in an expansion of the Greer plant and another $700 million in a new battery plant in Woodru one of the “most consequential announcements in the history of South Carolina, not just because of the money but because when they write the (book) on the electri cation of the vehicle in the United States, South Carolina will be in the rst chapter.”

He said the plans put the political leaders on the local, state and federal level on the ground oor of the biggest change in industrial policy in modern times, comparing it to the shi from the horse and buggy to the car. e Republican pointed out that it is business, not the government, that has made the move to electric vehicles real even as it saves a place for gas and diesel-powered engines.

“BMW is going to lead the world, not just South Carolina, in the electri cation of the vehicles with the understanding that choice will still be important,” Graham said.

Because of what it takes to make electricity and an electric battery, the senator said the role of government has to be large.

“I don’t know who is going to be budget chairman, but if I’m the budget chairman we’re going to have a hearing about what does it mean for America for a car company like BMW to go down the electric vehicle road,” Graham said. “Where do the battery parts come from? Where do the raw materials come from. Here’s the truth; we’ll never be able to make the battery in America without having mate-

rials from outside the country. So with these partnerships, batteries become the new oil. How do you charge the car? In the $1.2 trillion infrastructure bill, which I voted for, there’s a lot of money to accelerate charging stations. How do you build

a battery that goes longer and farther? Where do you get the materials? How do you turn raw material into an actual battery that goes into the car? What happens to the oil industry 40 years from now?” e role of power companies and fuel-

ing stations will change, Graham said.

“ e change that’s about to come from an electri ed eet means the power companies are going to have to change their way of doing business. What do you plug the car into? How do you double generation and make it lower carbon? One thing leads to the next thing,” Graham said. “We’re looking at small modular reactors to be developed in South Carolina to provide clean energy, a non-emitting source of energy in the nuclear arena. If we don’t have an allof-the-above approach when it comes to power production, you cannot get there from here. Fossil fuels will be with us for many decades to come and we need to nd as much as we can so we don’t depend on people over there who don’t really like us. So we’ve got to do many things at the same time. We need a plan to make it work.”

Graham promised Zipse that he and state elected leaders would be BMW’s partners in the journey to an electric vehicle eet of American cars. He said the state would become the Detroit of vehicle batteries.

“ e vision you laid out today is bold, it’s exciting, it’s transformative. And all those adjectives — none of them apply to Congress,” he said. “So we’re going to have to be bold, we’re going to have to be transformative, we’re going to have to be nimble. is is the one thing that Republicans and Democrats should agree on: When it comes to the electri cation of the vehicle, we should be the leader of the world; we should not follow.”

BMW’s investment at the Greer plant will create a battery production line, but the automaker already has a facility, pictured here, where a growing staff produces batteries for electric BMWs. (Photo/Provided)

Sen. Lindsey Graham pledged support for BMW’s transition to electric car production. (Photo/Ross Norton)

said. come from power comtheir way plug the car generation and leads to “We’re lookbe develprovide clean energy in have an allcomes to get there with us for need to nd depend on really like us. the same work.” he and BMW’s partelectric vehicle the state vehicle battoday is bold, And all apply to going to have be transbe nimRepublicans When it the vehicle, world; we

In Focus

BANKING & FINANCE

LISTS: Financial Brokerage Firms, Page 19

NEXT ISSUE’S FOCUS: Architecture, Engineering and Construction

HIGH-TECH BEER BUYING

Brewery crafting NFT purchasing platform

By Christina Lee Knauss cknauss@scbiznews.com

Something as simple as buying a beer at one Columbia-area brewery could soon help folks get acquainted with the new digital economy.

By the end of the year, Columbia Cra Brewing Co. aims to announce its rst release of a non-fungible token (NFT) collection, a launch that will allow beer lovers and consumers in general to own digital assets that will also give them access to special customer experiences at the downtown brewery, according to Andrew Strauss, the brewery’s co-owner and business development o cer.

Strauss and those working with him on the project realize there is a steep

learning curve for many people with this new project, but they’re willing to brave the challenge.

In simple terms, NFTs are unique digital assets based on blockchain technology that can’t be replaced or exchanged because of their distinctive properties.

ey’re called non-fungible tokens because unlike fungible, or interchangeable, items such as physical or cryptocurrency, NFTs can’t be exchanged. Once purchased, they belong exclusively to the owner.

Ownership of the NFT can be veried through the blockchain, which is a decentralized and secure log on the internet.

Up until now, most NFTs have involved digital art, music or games, but the medium is increasingly being used

in the business world.

Columbia recently made news in the NFT world in October when a three-bedroom house sold to a real estate investor for $175,000 as an NFT, according to an article in Newsweek. is was the second real estate transaction in the U.S. using the technology, with the rst being a Florida home sold earlier in the year.

Many realtors and others online were confused or outraged by the Columbia NFT house sale, claiming that it wasn’t valid because no physical deed was signed. Others, however, said the sale represents a new future for realworld assets, and could eventually eliminate much of the paperwork and time involved in the sale of property like real estate and cars.

Strauss hopes the brewery’s new venture into NFTs will help to take away the “great unknown” factor many people experience when talking about the new technology.

“We know that NFTs have a bad rap because of some of the experiences people have had with them, but our idea is to put some real utility behind the NFT so that you get something along with your ownership,” Strauss said.

Strauss realizes that many people might not know what an NFT or the blockchain is, so he plans to create material available online and at the brewery to help customers learn about the program.

“We want to create a road map, a diagram that will show them exactly how to get involved,” he said.

Columbia Craft Brewing Co. will launch its first non-fungible token collection by the end of the year. The project will allow customers to own digital assets that will give them access to special customer experiences at the downtown brewery, which opened in 2016 and recently completed renovations including a new rooftop deck. (Photo/Christina Lee Knauss)

Strauss has been involved in the metaverse, the world of the digital economy, since about 2007, and admits he has had both good and bad experiences with cryptocurrency and other parts of the platform.

His interest in it peaked when he met Columbia resident Chris ibault, of Merkle Root, a Columbia-based so ware development company.

Columbia Cra ’s NFT collection will initially include about 150-175 unique NFTs that represent most of the beers the company has produced since opening in November 2016. All of the NFTs won’t be available at the same time but will be sold in groups of ve or 10 in an auction format.

e NFT designs will relate directly to the “magnet” system already present in the main Columbia taproom at 520 Greene St., Strauss said. Each beer on tap is represented by a magnet with the beer name, alcohol content and creative color and artwork. e magnets are placed on a magnetic chalkboard to illustrate for customers what is being poured at the time. When a beer comes o tap, that magnet is replaced with that of another beer coming on tap.

e design of the NFTs will re ect the design or logo used for each beer on its taproom magnet.

Strauss said the individual NFTs will be available to consumers of legal drinking age who will be able to purchase a limited number of them through the company’s

website, with a credit card or through a cryptocurrency account using Ethereum or Bitcoin.

Each NFT a customer purchases will come with a speci c set of special discounts and privileges through Columbia Cra , Strauss said. e speci c perks attached to each NFT are still being developed.

Columbia Cra is not the only brewery currently using NFTs to amplify

their brand, and Strauss said the larger goal through his company’s launch is to eventually create an overall platform and application that any brewery can use to release their own speci c NFTs related to their brands.

“Products like NFTs and the blockchain need to be looked at right now as a new tool, something like the industrial revolution for not just breweries but other businesses

as well,” Strauss said. “It’s going to take time for this kind of thing to be adopted. What NFTs can do is to help breweries like Columbia Cra create more awareness for their brand and another revenue stream as well.

“ is is also going to allow our customers to dip their toes into this new tech space, participate in a new venture and get some added value back as well.” CRBJ

Non-fungible tokens, or NFTs, are unique digital assets based on blockchain technology that can’t be replaced or exchanged. (Photo/File)

going to take adopted. breweries like awareness for stream as allow our this new venture well.” CRBJ

CommunityWorks receives Cummins gift to support Black business

CommunityWorks was honored at a Cummins Turbo Technologies ribbon-cutting ceremony for the expansion of their manufacturing operations in Charleston County on Friday. rough their program, Cummins Advocating for Racial Equity, Cummins, the company provided CommunityWorks with $650,000 to support small business lending and coaching e orts.

e Cummins program seeks to drive a sustainable impact in dismantling institutional racism and creating systemic equity for the Black community in the United State. Since 2017, Cummins has invested more than $1.6 million in community development grants in the areas of education, environment and equality of opportunity in the Charleston area, according to a news release.

As part of this greater e ort, Cummins partnered with CommunityWorks, a statewide community development nancial institution, to present Blackowned businesses in the Charleston area with a special opportunity, according to the news release.

Businesses that qualify for one of the six CommunityWorks small business loan products can receive capital with a capped interest rate at 6% and waived application and processing fees, the release said. is Charleston Small Business Success Loan Program also includes technical assistance and nancial coaching through CommunityWorks for small Black-owned busi-

nesses

To celebrate the opening of Cummins new manufacturing operations in Charleston and their partnership with community organizations, they hon-

“CommunityWorks and Cummins are aligned in our goals to build brighter futures for under resourced families and

United Community Bank employees undertake veterans projects

Staff Report

United Community Bank celebrated America’s veterans through acts of kindness and service across their ve-state footprint.

Teams across the Southeast are nding unique ways to thank and support veterans in their communities including organizing collection drives for care packages to send to military personnel, assembling and distributing care boxes to military families, raising funds to supply a veteran with training to train their own service dog and writing thank you cards.

“As a veteran of the U.S. Air Force and Naval Reserve it is incredibly important to me that we all take the time to appreciate those who have served our country whether in active duty or as reservists,” Rich Bradshaw, president and chief banking o cer for United Community Bank, said in a news release. “I am extremely proud of our team for organizing e orts across our footprint that will positively impact those who have sacri ced so much for our country.”

For the second year in a row, United Community Bank employees were

encouraged to organize acts of service within their communities or participate in projects led by the Together for Good Council. In addition to the acts of service, the United Community Bank Foundation made a total of $25,000 in donations to local organizations that support veterans in observance of Veterans Day.

South Carolina activities and donations driven by team members across the bank’s service area and include:

• Donating to Operation Rehabilitation, One80 Place, Service Dogs for Veterans and Upstate Warrior Solution.

• Employees from Charleston and Mount Pleasant teamed up with the Myrtle Beach team to pack and distribute care boxes to military boxes.

• United branches in Laurens and Greenwood raised funds to pay for a veteran to go through a training program to train their own service dog.

United Community Bank recently moved its headquarters from Georgia to Greenville, where its executive o ces were already located. e company hasbranches throughout the state, including locations in Charleston, Mount Pleasant and Summerville. CRBJ

in the Charleston community — speci cally Dorchester, Berkely and Charleston counties.

ored CommunityWorks during Friday’s ribbon-cutting, signifying their commitment to minority-owned businesses in the area.

communities in the Charleston area,” LaTorrie Geer, CEO of CommunityWorks, said in the news release. “We are grateful for Cummins’ partnership and support and hope to work together to help minority-owned businesses thrive in the Charleston area and beyond. CRBJ

The grant from Cummins is intended to help Black businesses develop and grow in the Charleston area. (Photo/Provided)

UCB employees show some of the items collected for care packages. (Photo/Provided)

Southern First reports results for third quarter, including move

Southern First Bancshares Inc., holding company for Southern First Bank, announced its nancial results for the three-month period ended Sept. 30.

“ e third quarter saw exceptional growth for our company, including opening a record number of new deposit accounts,” CEO Art Seaver said in a news release. “I am proud of the performance of our team as we also experienced solid increases in total revenue and book value during the quarter.”

2022 third quarter highlights were

- Net income was $8.4 million and diluted earnings per common share were $1.04 for Q3 2022

- Net interest income increased 14.8% to $25.5 million at Q3 2022, compared to $22.2 million at Q3 2021

- Total loans increased 27% to $3.0 billion at Q3 2022, compared to $2.4 billion at Q3 2021

- Total deposits increased 23% to $3.0 billion at Q3 2022, compared to $2.4 billion at Q3 2021

- Book value per common share increased to $35.99, or 7%, over Q3 2021

Net income for the third quarter of 2022 was $8.4 million, or $1.04 per diluted share, a $1.2 million increase from the second quarter of 2022 and a $5.6 million decrease from the third quarter of 2021, the statement said. e increase in net income

from the second quarter was driven by an increase in net interest income and a reduction in the provision for credit losses, partially o set by an increase in noninterest expenses. In addition, there was a loss on disposal of xed assets recorded during the second quarter period. Net income for the third quarter of 2022 decreased from the prior year due primarily to an increase in the provision for credit losses, a decrease in mortgage banking income and an increase in noninterest expenses. In addition, net interest income increased $570,000, or 2.3%, for the third quarter of 2022, compared with the second quarter of 2022, and increased $3.3 million, or 14.8%, compared to the third quarter of 2021. e increase in net interest income was driven by $184.8 million of loan growth during the third quarter of 2022.

e provision for credit losses was $950,000 for the third quarter of 2022, compared to $1.8 million for the second quarter of 2022 and a reversal of $6.0 million for the third quarter of 2021. e provision expense during the third quarter of 2022, calculated under the new Current Expected Credit Loss methodology, includes a $525,000 provision for loan losses and a $425,000 provision for unfunded commitments. We received a $1.5 million recovery on a previously charged-o loan during the third quarter of 2022 that drove the decrease in provision expense from the second quarter and

the prior year periods. e reversal in the provision during the third quarter of 2021 was driven by improvement in economic conditions a er the onset of the pandemic.

Noninterest income totaled $2.7 million for the third quarter of 2022, a $415,000 increase from the second quarter of 2022 and a $1.6 million decrease from the third quarter of 2021. As the largest component of the company’s noninterest income, mortgage banking income improved slightly from the prior quarter, but decreased by $1.6 million from the prior year due to lower mortgage origination volume during the past 12 months. In addition, the company recorded a loss on disposal of assets during the second quarter of 2022 a er completing construction and relocation to its new headquarters building in Greenville.

Noninterest expense for the third quarter of 2022 was $16.0 million, or a $258,000 increase from the second quarter of 2022, and a $2.0 million increase from the third quarter of 2021. e increase in noninterest expense from the previous quarter was driven by increases in occupancy and insurance expense, while the increase from the prior year related to increases in compensation and bene ts, occupancy, and insurance expenses. Compensation and bene ts expense decreased slightly from the second quarter driven by less bene ts expense and increased from the

prior year due to hiring of new team members, combined with annual salary increases. Occupancy expense increased from the prior quarter and prior year due to costs associated with the relocation of our headquarters, while our insurance costs increased during the second quarter of 2022 related to higher FDIC insurance premiums.

Southern First’s e ective tax rate was 24.5% for the second and third quarters of 2022 and 23.7% for the third quarter of 2021. e higher tax rate in the third quarter of 2022 relates to the lesser impact of equity compensation transactions on our tax rate during the quarter, the news release said.

Net interest income was $25.5 million for the third quarter of 2022, a $570,000 increase from the second quarter, resulting primarily from a $3.7 million increase in interest income, on a tax-equivalent basis, partially o set by a $3.1 million increase in interest expense. e increase in interest income was driven by $146.1 million growth in average loan balances at an average rate of 4.01%, 19-basis points higher than the previous quarter. In comparison to the third quarter of 2021, net interest income increased $3.3 million, resulting primarily from $589.9 million growth in average loan balances during the 2022 period, combined with a 12-basis point increase in loan yield, according to the news release. CRBJ

•

•

•

•

• Implementing and reviewing a spending strategy through robust planning tools.

• Delivering highly personalized service based on a low client/ advisor practice ratio.

Investment and Insurance Products are: Not Insured by the FDIC or Any Federal Government Agency Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

Robert Vingi, Private Wealth Financial Advisor; Howard Edwards, Senior Financial Advisor; David McCallum, Private Wealth Financial Advisor; Wendy Brewer, Private Wealth Financial Advisor; Aaron Barber, CFA®, Senior Financial Advisor; Ashley Baker, CFP®, ChFC®, Private Wealth Financial Consultant; Jeff Percy, AWMA®, Senior Registered Client Associate; Lucille Houting, Client Associate; Ashlie Ervin, Client Associate; Mary Elizabeth Griffin, Client Associate; Malone Vingi, Client Associate

Financial Brokerage Firms

Ranked by No. of Licensed Brokers in the Charleston Area

Company

Cornerstone Wealth Advisor y Group 8550 Dorchester Road North Charleston, SC 29420

Merrill Lynch Wealth Managment 75 Port City Landing, Suite 500 Mount Pleasant, SC 29464

Wells Fargo Advisors LLC Wealth Brokerage Ser vices 320 Broad St, 4th Floor Charleston, SC 29401

Commonwealth Financial Group 225 Seven Farms Drive, Suite 106 Daniel Island, SC 29492

UBS Financial Ser vices Inc. 941 Houston Northcutt Blvd. Mount Pleasant, SC 29464

Robert W. Baird & Co. Inc. 25 Calhoun St., Suite 200 Charleston, SC 29401

Oak Capital Management LLC 421 Wando Park Blvd., Suite 130 Mount Pleasant, SC 29464

First Command Financial Ser vices 7301 Rivers Ave., Suite 230 North Charleston, SC 29406

Charles Schwab & Co. Inc. 962 Houston Northcutt Blvd., Suit 100 Mount Pleasant, SC 29464

SouthState Investment Ser vices 2440 Mall Drive Charleston, SC 29406

Harbor Financial Group 51 State St. Charleston, SC 29401

Sequence Financial Specialists LLC 781 Meeting St., Suite B Charleston, SC 29403

360 Financial Partners 1081 Johnnie Dodds Blvd., Suite 100 Mount Pleasant, SC 29464

Cabot Lodge Securities 4449 Hope Plantation Drive Johns Island, SC 29455

Coleman Dunleavy McKenzie Wealth Management Group of Wells Fargo Advisors 320 Broad St., 3rd Floor Charleston, SC 29401

Stifel 174 Meeting St., Suite 400 Charleston, SC 29401

Phone / Website / Email

843-376-3350 www.cswta.com administration@cswta.com

843-800-6808 www.ml.com laura_h_clark@ml.com

843-724-4012 www.wellsfargoadvisors.com franksubasic@wellsfargo.com

843-884-4545 www.commonwealthfg.com

843-856-6616 www.ubs.com karl.riner@ubs.com

843-579-5000 www.bairdoffices.com/charleston jmcauley@rwbaird.com

843-849-7878 www.oakcapitalmgt.com troy.barrentine@oakcapitalmgt.com

843-824-6629 www.district.firstcommand.com/north-charleston cbstill@firstcommand.com

843-856-1388 www.schwab.com

843-529-5924 www.southstatebank.com

843-720-8868 www.harborfinancialgroupsc.com info@harborfinancialgroupsc.com

843-860-6031 www.sequencefinancialspecialists.com gking@sequenceholdings.com

843-216-1077 www.360fp.com partners@360fp.com

843-577-7834 www.cabotlodgesecurities.com thomas.williams@clsecurities.com

843-805-6456 www.wellsfargoadvisors.com/coleman-dunleavy-mckenzie anne.shore@wellsfargoadvisors.com

843-414-6760 www.stifel.com

Top Local Official(s) / Year Founded Brokers / Employees Products / Ser vices

100 100

Laura H Clark 1914 65 80

Frank J. Subasic 1852

Heather Wanner 2000

33 35

Annuities/life insurance, asset management, financial management, financial planning, money management, retirement planning

Accounts, annuities/life insurance, asset management, commodities, financial management, financial planning, government bonds, local research, money funds, money management, municipal bonds, mutual funds, options, real estate syndication, retirement planning, tax shelters, trust ser vices, underwriting

Accounts, annuities/life insurance, asset management, financial management, financial planning, government bonds, money funds, money management, municipal bonds, mutual funds, options, retirement planning, trust ser vices

16 28

Karl I. Riner 1866 15 18

Jody McAuley 1919 14 15

Troy Barrentine 1859

13 32

Bernie Still, Dave Thompson 1958 12 18

James Jones, Shelley V Challoner 1974 9 9

Timothy B. Sease 1995 8 16

Financial management, financial planning

Accounts, annuities/life insurance, asset management, commodities, financial management, financial planning, government bonds, local research, money funds, money management, municipal bonds, mutual funds, options, real estate syndication, retirement planning, tax shelters, trust ser vices, underwriting

Accounts, annuities/life insurance, asset management, commodities, financial management, financial planning, government bonds, local research, money funds, money management, municipal bonds, mutual funds, options, real estate syndication, retirement planning, tax shelters, trust ser vices, underwriting

Accounts, annuities/life insurance, asset management, commodities, financial management, financial planning, government bonds, money funds, money management, municipal bonds, mutual funds, options, retirement planning, tax shelters, trust ser vices

Accounts, annuities/life insurance, asset management, financial management, financial planning, money management, mutual funds, retirement planning

Accounts, annuities/life insurance, asset management, financial management, financial planning, government bonds, money funds, money management, municipal bonds, mutual funds, options, retirement planning, trust ser vices

Accounts, annuities/life insurance, asset management, financial management, financial planning, government bonds, money funds, money management, municipal bonds, mutual funds, retirement planning

Cam Werntz, Clay Hershey, Rob Williams 2006 6 10 Asset management, financial planning, retirement planning

Gilles Côté Mike Xenick Gene King 2006 6 4 Real estate syndication, tax shelters, underwriting

Randall D. Teegardin, Dustin J. Hughes 2006 3 4 Annuities/life insurance, asset management, financial management, financial planning, government bonds, local research, money funds, money management, municipal bonds, mutual funds, retirement planning, trust ser vices

3 3

Dennis Coleman, Thomas Dunleavy, R. Scott McKenzie 2018 3 6

Barre M. Butler 1890

3 7

Accounts, asset management, financial management, financial planning, government bonds, money funds, money management, municipal bonds, mutual funds, retirement planning, trust ser vices, underwriting

Annuities/life insurance, asset management, financial management, financial planning, money funds, money management, retirement planning, trust ser vices

Accounts, annuities/life insurance, asset management, commodities, financial management, financial planning, government bonds, money funds, money management, municipal bonds, mutual funds, options, retirement planning, trust ser vices, underwriting

David Armbruster, Michael L. Haskett, Scott Grow 2007

Thomas Yancey Williams 1994

Researched by Paige Wills

Business Digest At Work

BUSINESS DIGEST | PEOPLE IN THE NEWS | CONSTRUCTION

Lowcountry Local First encourages local shopping

Leadership Berkeley class of 22 graduates

e Leadership Berkeley class of 2022 celebrated completion of the program at a graduation luncheon at Wampee Conference Center. e class began their ninemonth program in February 2022.

e Leadership Berkeley Class of 2022 includes Sonya Altenbach, Home Telecom; Lauren Bailey, Southern First; Abhishek Bhansali, Nucor Steel Berkeley; Amy Chico, HLA; David Cole, Nucor Steel Berkeley; Russell Cook, Nucor Steel Berkeley; Antuan L. Cromedy, Santee Cooper Credit Union; Gary Darby, Nucor Steel Berkeley; Matthew Edens, Home Telecom; Robert M. Edwards, Home Telecom; Robert Elliott, Trident Technical College; Mark DeFilippo, Nucor Steel Berkeley; Ellie Gilmore, Home Telecom; Lauren King, Home Telecom; Brian Lynch, Santee Cooper; Loretta Moore, Berkeley Electric Cooperative; Jennifer Myers, Dominion Energy; Rachel Simpson, Synovus Bank; and Ray T. Williams, First National Bank. e program is designed to expose businesses and area leaders to the opportunities and challenges facing the area while creating a strong and diverse pool of community leaders who are committed to shaping Berkeley County’s future. Each month, the participants experience topics concerning the community, including economic development, education and workforce, health care and social issues, government, and law enforcement and judiciary.

Phase II of Seaglass Cottage Apartment Homes begins

Sands Companies began construction on the second phase of Seaglass Cottage Apartment Homes in North Myrtle Beach. is phase of the horizontal cottage-style apartment homes brings 92 additional units to the already completed 349-unit rst phase.

Located on Doveshell Drive, the second phase of Seaglass Cottage Apartment Homes, part of the Barefoot Landing Resort, will include oneand two-story cottages consisting of two- and three-bedroom units.

ranging from 924 to 1,633 square feet. e project is expected to be completed in winter 2024.

Individual units will feature private splash pools, pet yards, and attached garages in select homes. Other interior features include open oor plans with high ceilings, luxury plank ooring and large kitchen islands.

Community amenities include a resort-inspired pool with sun deck, courtyards throughout the community, a private beach on the property, and shuttle access to Myrtle Beach.

Sands Companies was founded in 2014 based on the mission to build homes in neighborhoods that enrich the community.

‘Shop Small’ on Small Business Saturday

e South Carolina Small Business Development Centers, a provider of business assistance to small business owners and entrepreneurs, named Nov. 26, as Small Business Saturday.

Lowcountry Local First has launched its 11th annual Buy Local Season campaign as a grassroots movement to encourage support of local, independent businesses — particularly during the holiday season. e organization urges the community to shi their holiday spending to local businesses that are rooted in the community and o en rely on healthy fourth-quarter numbers to survive. is year’s campaign points citizens and visitors to look for the hundreds of Certi ed Local decals on storefronts around the community, and to utilize BuyLocalCHS.com as an online destination to browse dozens of local businesses for gi s and experiences this season. e organization also urges citizens to sign the Buy Local Pledge, a commitment to shi at least 10 percent of holiday spending to local businesses.

Buy Local Season is made possible through the support from Rev Federal Credit Union, the city of Goose Creek, Charleston Magazine, the town of Mount Pleasant, Bridge 105.5, Celadon, Home Telecom, Nelson Printing and e Station Park Circle.

Phase II of Seaglass Cottage Apartment Homes begins

Sands Companies began construction on the second phase of Seaglass Cottage Apartment Homes in North Myrtle Beach. is phase of the horizontal cottage-style apartment homes brings 92 additional units to the already completed 349-unit rst phase.

Located on Doveshell Drive, the second phase of Seaglass Cottage Apartment Homes, part of the Barefoot Landing Resort, will include one- and two-story cottages consisting of two- and three-bedroom units.

ranging from 924 to 1,633 square feet. e project is expected to be completed in winter 2024.

Social Venture Partners Charleston raised $143,700 at its Empower Charleston nonpro t showcase in October. Together with three previously announced grants of $120,000, these funds enable SVP to award a total of $263,750 to six mission-driven nonpro ts by year-end.

e six small nonpro ts bene tting from funds raised at Empower Charleston are Beyond Our Walls, Charleston Hope, Charleston Legal Access, Heart Math Tutoring, Increasing HOPE, and We Are Family.

e leaders of each nonpro t made a ve-minute pitch to an audience of 200 people. e presentations focused on mental health, economic mobility, and elementary education challenges faced by youth and families in the Lowcountry.

Prior to the showcase, Social Venture Partners had announced two-year strategic partnerships with Charleston Hope, Increasing HOPE, and We Are Family, all of which will share additional grants totaling $120,000 plus ongoing consulting from Social Ventures Partners.

Small Business Saturday was rst launched in 2010 to help small businesses recover from the recession. In 2011 the U.S. Senate passed a resolution to recognize the rst Saturday a er anksgiving as an annual holiday shopping day to support the small brick-and-mortar stores lining downtown streets and in neighborhoods across America. It also helps customers who want access to products and experiences in their community and local economies that bene t from successful small businesses.

Now in its 12th year, the initiative has spread across the country and abroad.

Individual units will feature private splash pools, pet yards, and attached garages in select homes. Other interior features include open oor plans with high ceilings, luxury plank ooring and large kitchen islands.

Community amenities include a resort-inspired pool with sun deck, courtyards throughout the community, a private beach on the property, and shuttle access to Myrtle Beach.

Sands Companies was founded in 2014 based on the mission to build homes in neighborhoods that enrich the community.

The leadership began their nine-month journey to graduation in February. (Photo/Provided)

The next phase brings 92 new homes to the development. (Photo/Provided)

The six nonprofit directors, along with Ian Devine and Eric Thome 6 nonprofits awarded funds at Empower Charleston

People in the News

BUSINESS SERVICES

At Davis & Floyd, Stephen Davis, who had been president and chief executive officer, is now CEO, while Joshua “Josh” Fowler, PE, has come onboard as president, based in the Greenville office.

Fowler, a professional engineer in South Carolina North Carolina, and Georgia, received his bachelor of science in civil engineering from Georgia Institute of Technology and his master of business administration from Clemson University.

Throughout his career, he has served in various leadership roles, primarily in professional services but also in manufacturing sales and marketing. Most of his consulting work has been in water/wastewater with some experience in industrial and economic development as well as in industrial compliance. Previously, he worked as South Carolina water program lead at Henningson, Durham & Richardson, where he worked as South Carolina

Kevin R. Dean was nominated to the board of governors executive committee for the South Carolina Association for Justice. He will serve as one of four nonofficer members for 2022–2023.

Throughout his career, Dean has represented victims and families affected by hazardous consumer products, vehicle defects, occupational and industrial accidents, fires, premise injuries, and other incidents of negligence. Dean currently represents clients harmed by contaminated water at Marine Corps Base Camp Lejeune and consumers who purchased or leased vehicles with allegedly defective ARC airbag inflators.

Dean earned a bachelor of arts from Valdosta State University and a juris doctor from Cumberland School of Law. He serves as chair of the Georgia Trial Lawyers Association tort and negligence committee, is on the board for the Attorneys Information Exchange Group, and is a member of both the American Association for

Kristina Granlund and Shawn Griffin are now working with community development practice at Stantec’s Charleston office.

Granlund is a landscape architect. She has experience with conceptual design, planting design, bioremediation, and construction detailing and administration as well as industrial compliance, environmental monitoring, and emergency response. She is a graduate of Ohio State University, Baldwin Wallace University, and Miami University.

A civil designer, Griffin has experience in sales and estimating as well as in design and project management of residential, commercial, and heavy civil projects. Griffin’ project management and design background includes various aspects of sales, cost estimating, project scheduling and coordination, site layouts, and precast concrete. He is a graduate of the State University of New York Polytechnic Institute.

EDUCATION

Photos – break them into individual head shots

The board of directors for the South

Hilton Head Island, arts advocate; Brian Harris, Lexington, senior IT auditor, BlueCross BlueShield of South Carolina; Fain McDaniel, Greenville, retired partner, KPMG; and Jonnika Wilson, Gastonia, NC, senior HR analyst, The Timken Company.

Serving high school juniors and seniors, the school, located in Greenville, enables students to refine their talents in a master-apprentice community while receiving an academic education. Summer programs are available to rising 7th–12th graders.

The South Carolina Governor’s School for the Arts and Humanities Foundation is a nonprofit organization

deVeer

Harris McDaniel

Dean Presented by: Sponsored by:

Buy tickets here! #HCHCHS HE ALTH CARE

BUSINESSLEADERS VEL E GINGTHELOWCOUNTRY S

POWER EVENT SERIES | 2018 VEL E GINGTHELOWCOUNTRY S BUSINESSLEADERS

L E E GINGTHEMIDLANDS BUSINESSLEADERS L V E GINGTHEUPST TE S BUSINESSLEADERS

bit.ly/crbj22hchtix

See PEOPLE, Page 22

DECEMBER 12

that raises money to support the Governor’s School.

Catherine Ellis, a visual arts teacher at Ashley Ridge High School in Dorchester School District Two received the Mary Whyte Art Educator Award and $5,000 from the South Carolina Art Education Association.

The annual honor highlights a South Carolina high school art teacher who demonstrates excellence in teaching through creativity, inspiration, dedication, and skill. This award is open to South Carolina art teachers who apply and then are reviewed by a panel of judges.

LAW

K&L Gates’ Charleston office has seven new associates: David Caughran, Tre Holloway, Katherine Hunt, Michael Phillips, Riley Ruppel, Kevin Schoonveld, and Amber Walsh.

Caughran is with the corporate/ M&A practice group. Previously, he was an associate at a regional law firm, where he was a member of the public finance and economic development practices. In addition to the corporate/ mergers and acquisitions practice group, Caughran works with the Charleston economic development practice. He received his bachelor of arts cum laude from Sewanee and his juris doctor cum laude from the University of South Carolina School of Law.

Holloway is with the complex commercial litigation and disputes practice group. Previously, he was a law clerk for M. Margaret McKeown of the U.S. Court of Appeals for the Ninth Circuit and worked as an associate in the Washington, DC, office of a Am Law 50 law firm. Holloway received his BA magna cum laude from George Washington University and his JD from Harvard Law School, where he was a Harvard Law Review editor.

Hunt works with the asset and corporate finance practice group. Previously, she was an associate in the lending practice group of an Atlanta law firm, where, she represented lenders in negotiating and closing government-guaranteed loans secured by commercial real estate. Hunt received her BA cum laude from Georgia State University and her JD cum laude from Georgia State University College of Law.

Phillips is with the health care and FDA practice group. Previously, he was an associate in the Washington, DC, office of another global law firm, where he focused on health care as

well as privacy and cybersecurity issues. Phillips received his BA with distinction from the University of Virginia and his JD cum laude from Duke University School of Law.

Ruppel works with the asset and corporate finance practice group. Fresh out of law school, she received her BA cum laude from the University of Georgia and her JD cum laude from the University of Georgia School of Law where she was on the editorial board of the Georgia Journal of International and Comparative Law.

Schoonveld is with asset and corporate finance practice group. Previously, he served as an associate in the New York office of a multinational firm, where he represented private equity firms and their portfolio companies in structuring and negotiating a variety of finance transactions. Schoonveld received his BA magna cum laude from Wheaton College, where he was inducted into Phi Beta Kappa, and his JD cum laude from Fordham University School of Law.

Walsh is part of the asset and corporate finance practice group. Previously, she served as an associate with an international professional services organization, where she focused on tax and M&A matters in both domestic and cross-border transactions. Walsh received her BA from the University of North Carolina at Chapel Hill and her JD and LLM from the University of Florida Levin College of Law.

MARKETING AND PUBLIC RELATIONS

The new marketing coordinator at Waypost Marketing is Rachel Allain . In her new role, she assists in managing client accounts, curating and publishing consistent content across various social media platforms, and developing email marketing campaigns.

Allain earned a bachelor of fine arts in studio art with a minor in business at Auburn University before going to work as a social media specialist for Auburn’s College of Architecture, Design, and Construction and an event marketing specialist with TTI.

REAL ESTATE

Nicole Catalano is now a Realtor with Daniel Ravenel Sotheby’s International Realty, where she specializes in coastal residential sales and investment properties in the Charleston office. Catalano spent most of her career in Cape Cod, where she worked in sales and marketing at the Chatham Bars Inn.

PEOPLE, from Page 21

Ellis

Catalano

Viewpoint

VIEWS, PERSPECTIVES AND READERS’ LETTERS

Considerations before developing beyond city limits

We o en hear that all of the easy sites are gone.

As a result, residential development in the Carolinas and Georgia is stretching beyond the typical suburbs into more rural areas. e math is simple: there is a scarcity of land and the land that is available has appreciated, so developers must expand their reach. is trend is playing out across the country but is particularly acute in the Southeast, which was already experiencing a development boom before the COVID-19 pandemic accelerated it.

Residential developments are extending well beyond Greenville, Raleigh and Atlanta. In some of those places, locals would have been shocked to see a new subdivision just a few years ago, let alone townhomes or apartments. But these developments can create new opportunities for local residents, businesses and governments. As residential growth occurs, the tax base grows and shopping centers, o ces and other commercial growth will eventually follow.

Despite the opportunities they create, these projects o en encounter resistance, including from people who like living in a rural area and want to keep it that way. Fortunately, developers can take proactive steps to address resistance and reduce locals’ concerns.

To start, it is essential to understand the local requirements of an area. Zoning is an inherently local process. Best practices in one part of South Carolina may not apply in another part of the state, let alone in North Carolina or Georgia. at said, the development process in more rural areas may o er smoother and more e cient processes than cities, which o en have more restrictions. No matter where you plan to build, seeking guidance from attorneys, engineers and other consultants with local experience is especially valuable.

In researching the local area, another useful step is to review the jurisdiction’s long-term plans for development, which typically spell out encouraged and discouraged uses. ose plans can be a great way to gain early insight into how a project may be received by both the government and community before expending too many resources on engi-

neering plans.

Developers should also be proactive with community outreach to address concerns and allay fears. e more they do on the front end — before they walk into the council chambers for a public hearing — the better. is is especially important as more suburban jurisdictions are requiring community meetings as part of their entitlement process, including in metro Atlanta. ere can be challenges and risks with proactive outreach, but it is important for developers to share their story and the bene ts of their project. Early lines of communication can lead to better outcomes than when residents are surprised to see a sign pop up on their street about a hearing in a few days.

One common concession developers should be prepared to consider is creating bu ers along the project boundaries to so en the impact on neighbors who have been there for a long time. Bu ering and screening can help preserve some residents’ preferred way of life while also creating features that new residents can enjoy.

Outreach to local o cials and stakeholders is also critical. Developers should meet with municipal sta in advance and introduce themselves and their project to local o cials and decision makers. As part of those conversations, developers should be ready for questions about non-

residential uses such as retail and other elements they’re not ready to develop because the density may not be there to support it. ey should also be aware of the tug and pull between homeowners who want larger lots (and home values) and elected o cials seeking more a ordable housing solutions, which o en result in smaller lots and increased density.

In addition, developers should be prepared to talk to local o cials about the infrastructure needed to support the growth their projects will catalyze. While roads and utilities are a common focus, we’ve even had clients dedicate land from their project for a school to absorb the growth they would bring. Obviously, not every project can support a school, but it’s an example of how developers can get creative.

A proactive step developers can consider taking to help with their outreach to the community and government ocials is budgeting for the cost of a tra c study. In some cases, those are required for subdivisions. Even when they are not though, they can be a useful tool to allay concerns or identify mitigation measures

that might provide a level of comfort for residents who have concerns about tra c. ose measures can also be worked into the budget.

To boil it all down, developers who are bringing projects beyond the ‘burbs and into more rural areas can smooth out that process and the accompanying unknowns through a proactive approach to engaging with the community and anticipating opposition. As noted above, the process can be made easier through partnerships with professionals who know the community well and who can guide the process.

Mike Pitts, Collier Marsh and Shaun Adams are attorneys in Parker Poe’s Development Services Industry Team, which helps clients across the Southeast navigate the entire life cycle of real estate projects. Pitts is in Greenville, and can be reached at mikepitts@parkerpoe.com. Marsh is in Raleigh, and can be reached at colliermarsh@parkerpoe.com. Adams is in Atlanta, and can be reached at shaunadams@parkerpoe.com.

We want to hear from you

Write: Ross Norton, managing editor

SC Biz News

35B Cessna Court Greenville, S.C. 29607

Email: rnorton@scbiznews.com

MARSH

PITTS

ADAMS