VOLUME 14 NUMBER 11 ■ COLUMBIABUSINESSREPORT.COM
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AUGUST 16-SEPTEMBER 12, 2021 ■ $2.25
Greg Middleton, co-owner of Peak Drift Brewing Co., talks about the North Main entertainment venue during a news conference. (Photo/Melinda Waldrop)
Going green again St. Pat’s festival returning to Five Points in 2022. Page 2
Penny resolution
Settlement reached in longrunning Penny Tax dispute. Page 4
Opportunity awaits
New Standard
New student housing tower coming to downtown Page 5
North Main venue to bring entertainment, development to underserved community
A different look
Companies team up on Main Street renonvation. Page 8
By Melinda Waldrop
INSIDE
Upfront................................. 2 SC Biz News Briefs................. 3 In Focus: Financial Services ..........................................23 List: Accounting Firms........24 Bonus list: Credit Unions.....26 At Work...............................29 Viewpoint............................ 31
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mwaldrop@scbiznews.com
he 64,000-square-foot, $34 million entertainment venue and brewing production facility set to open on North Main Street next year is about more than beer. It’s about opportunity. Peak Drift Brewing Co., the latest Middleton family project, is located in an Opportunity Zone, one of nearly 9,000 areas throughout the country designated for incentivized economic development through 2017 federal legislation sponsored by Sen. Tim Scott. Investors
receive tax benefits to invest in low-income communities certified as Opportunity Zones by the U.S. Treasury Department. “People say why not Charleston? Why not Charlotte? Why not Greenville? Why not Miami?” Greg Middelton, who will own Peak Drift along with sister Sara Middleton, said during July 13’s official announcement of the brewery’s name and head brewmaster. “ ‘You can take the money and the capital you’re doing here and go anywhere.’ I’m not from Miami, and neither is Sara. I’m from Columbia, I’m from South Carolina, and I want this to be something that Columbia can truly be
Icons & Phenoms
The Columbia Regional Business Report honors leaders across the Midlands. Page 12-21
proud of.” In March 2018, S.C. Gov. Henry McMaster nominated 135 areas in the state as Opportunity Zones, with 128 eventually certified as low-income community tracts and seven as contiguous to such tracts. So far, the 8,764 certified zones in all 50 states, Washington, D.C., and Puerto Rico have attracted $75 billion in private investment, said Alyssa Richardson, Scott’s deputy chief of staff. “Generally, when you’re talking about a place for investment or opportunity, you want See VENUE, Page 7