Issuu

VOLUME 13 NUMBER 17 ■ COLUMBIABUSINESSREPORT.COM

Part of the

network

NOVEMBER 23-DECEMBER 6, 2020 ■ $2.25

Game changer

Fireflies to change MLB affiliation after a dozen years as a Mets club. Page 4

Big brew news

Mark Anthony Brewing to invest $400 million in Columbia facility. Page 5

Business move Transom Capital Group acquires SC Biz News. Page 7

Cantina 76, with two Columbia-area locations, was among S.C. business receiving emergency loans to retain jobs. (Photo/Melinda Waldrop)

Tax freeze

Unemployment insurance taxes won’t rise for 86% of S.C. employers. Page 9

PPP forgiveness eased as delays concern lenders By Andy Owens

INSIDE

Upfront................................. 2 SC Biz News Briefs................. 3 In Focus: Aerospace............ 13 List: Aviation & Aeropsace Companies, Statewide......... 16 At Work............................... 21 Viewpoint............................23

aowens@scbiznews.com

in South Carolina used that money to save 134,506 jobs, according to Small Business Administration data. In the early days of the pandemic, South Carolina businesses borrowed more than $5 billion to save an estimated 658,000 jobs through the Paycheck Protection Program. Most of those loans in South Carolina were for $50,000 or less. Overall data from the Small Business Administration shows that 67.6% of the

Boeing decision

Aerospace company consolidates Dreamliner assembly operations in North Charleston. Page 13

63,168 Paycheck Protection Program loans written to companies in South Carolina were for smaller amounts. But when the loans were made, the regulations were also being written, with unclear provisions on how to payback the money or qualify for converting the loan into a grant. Business advocates, such as the S.C. Bankers Association, were advocating for a simple See PPP, Page 10

Upfront

BRIEFS | FACTS | STATEWIDE NEWS

A LA CARTE Photo/Provided

What’s your score, South Carolina?

Foundation gifts dining hall to state association The Darnall W. and Susan F. Boyd Foundation has gifted a new, 300-seat

f there’s any pent up demand in a post-pandemic economy, we’re expecting it to show up in big-ticket items: Cars, homes, boats, washing machines and wide-screen TVs. We’re not in the post-pandemic economy, but one thing’s going to help determine if you can buy that 4K screen for the upcoming NFL playoffs: your credit score.

dining hall to the South Carolina Waterfowl Association, which will allow the organization to serve more camp-goers

Experian recently published the cred scores for every state in the U.S., including South Carolina. Just for comparison, the highest your credit score can be in the U.S. is 850. So before you pull out your credit card for that new whatever it is, you can say, “My credit score is better than everyone in the Southeast, on average, so I think I need a good deal.”

next summer.

Credit scores in the Southeast

projects, has donated to Midlands ini-

State Virginia Florida North Carolina Tennessee South Carolina Alabama Georgia Louisiana Mississippi

Average score 692 680 679 675 667 665 665 661 658

States with the worst credit scores State Mississippi Louisiana Georgia Alabama Texas

Average score 658 661 665 665 666

States with the best credit scores State Minnesota Vermont South Dakota New Hampshire Wisconsin

Average score 720 712 712 711 711

The foundation, which supports educational and outdoor recreational tiatives including the Boyd Plaza at the Columbia Museum of Art and Riverbanks Zoo & Gardens renovations. The foundation donated the 127-acre Boyd Camp to the waterfowl association in 2018. The dining hall will be used by Camp Woodie and Camp Leopold, which offer opportunities for S.C. children and families to learn about wildlife heritage and habitat conservation at the Wildlife Education Center in Pinewood. Currently under construction, the

HEARD IN THE

REPORT

“I think that the success they’ve had here comes from the fact that all the planes ended up in North Charleston before distribution anyway for their final inspections, the painting, and what have you.” — North Charleston Mayor Keith Summey

WEBSITE: www.ColumbiaBusinessReport.com

9,700-square-foot dining hall is slated to be complete in early 2021. “It’s an honor to be able to give SCWA this new dining hall,” George Bailey, president of the Boyd Foundation, said in a news release.

@CRBR

facebook.com/ColumbiaBusinessReport

November 23 - December 6, 2020

www.columbiabusinessreport.com 3

SC Biz News Briefs GREENVILLE

moving business forward with technology.

GSA Business Report

Food Lion takes big step in Bi-Lo purchases

ood Lion announced a big step forward earlier this month with plans to expand its store network through previously announced plans to purchase 62 Bi-Lo and Harveys Supermarket stores from Southemp eastern Grocers. lo ema yee log il: in p The U.S. Federal Trade Commisassw janedoe @e ord: clar mail.co keco m sion has granted early termination 3 of a required waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976, the company said in a news release. Termina- Food Lion has moved forward with the purchase of Bi-Los tion of the requirement satisfies one in Columbia and the Upstate. (Photo/Provided) of the conditions of completing the purchase of the stores, which are located in South Carolina, North Carolina and Georgia. In addition to that transaction, Food Lion will be served by Ahold Delhaize USA Distribution LLC, through the acquisition of the Mauldin distribution center. ADUSA Distribution expects to hire more than 800 associates to support Food Lion’s network of stores, the news release said. The transaction is anticipated to be complete in the first half of 2021. Food Lion is a company of Ahold Delhaize USA, the U.S. division of NetherAuthorized Agency For lands-based Ahold Delhaize. “We are thrilled to move forward to add these new locations to our more than 630 existing stores across Georgia and the Carolinas,” Food Lion President Meg Ham said in the news release. “Nourishing our neighbors with fresh, quality products at affordable prices is core to everything we do. “We look forward to opening these stores early next year and welcoming our neighbors in these towns and cities into their new Food Lion.” The transaction, announced earlier this month, does not include every Bi-Lo in South Carolina, but it does include about 15 in the Upstate and two in Columbia, according to a Food Lion representative. Food Lion said in June that it plans to hire 4,650 employees. That number includes employees who currently work at those Bi-Lo and Harveys Supermarket stores who apply for and secure one of the jobs, according to Matt Harakal, Food Lion’s manager for external communications. Each Food Lion employs 40 to 50 people. The stores will remain open under their Bi-Lo and Harveys Supermarket names until the transaction is complete, which is expected to take place over a staggered period from January to April, pending customary closing requirements. Food Lion plans eventually to operate all of the stores under the Food Lion banner. Food Lion was the first grocery retailer in the country to establish a partnership with Feeding America to develop a retail food rescue program more than 20 years ago, the release said, and all stores in the Food Lion network are paired with a local feeding agency to receive donations through Food Lion’s retail food rescue program and its hunger-relief platform, Food Lion Feeds. This year, based on unprecedented need caused by the COVID-19 pandemic, Food Lion made its largest one-time hunger relief gift in the company’s history, donating more than $3.1 million to support its food bank partners and medical research, the ZTechnology release said. The company also made additional gifts this year for hunger relief, including donating more than 123 million meals through efforts including volunteerism, funding to support food bank transportation capacity, and funding to support new school distribution models to address child hunger.

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Manufacturers get through crisis with agile pivots. Page 6

network

Boeing’s consolidation of the 787 Dreamliner assembly lines in North Charleston could lead to future economic development deals as workers, suppliers and aerospace customers continue to rely on the Palmetto State See story on Page 18

Greenville company on a mission to make electric cars safer. Page 8

Hitt says manufacturing leads state through crisis

CU-ICAR working to create synchronized production. Page 5

Balancing act

Bankers work to serve small business during pandemic. Page 10

INSIDE

The Boeing S.C. Delivery Center is where customers pick up the keys to their newly built 787 Dreamliner. The signature building overlooks the Boeing S.C. campus, including the flightline of Dreamliners in different stages of construction. (Photo/Boeing Co.)

Part of the

By Teri Errico Griffis

Aerospace in S.C.

Boeing’s expansion plans in North Charleston are part of a growing aerospace sector. Pages 15-26

By Ross Norton

Autonomous workforce

VOLUME 26 NUMBER 24 ■ CHARLESTONBUSINESS.COM

NOVEMBER 16, 2020 ■ $2.25

network

Discount stores’ net sales rise during pandemic

WHY SOUTH CAROLINA?

Advantages of disintegration

Leading Off .......................... 2 SC Biz News Briefs ................ 3 C-Suite ................................ 4 In Focus: Aerospace ........... 15 LIST: Aviation and Aerospace Companies - Statewide ......24 At Work ..............................28 Viewpoint ........................... 31

NOVEMBER 16 - NOVEMBER 29, 2020 ■ $2.25

rnorton@scbiznews.com

ommerce Secretary Bobby Hitt thanked S.C. manufacturers for leading the rest of the state through the early months of the COVID-19 crisis and pledged the state’s resources will be there for them as the pandemic continues. “I would be remiss if I didn’t take a moment to commend the manufacturing community for stepping up to help in the fight against COVID-19,” Hitt said in an address livestreamed during the S.C. Manufacturing Conference and Expo, held virtually Oct. 29-30. “Our state’s manufacturing sector has shown incredible resilience during the pandemic. South Carolina companies have demonstrated an unwavering commitment to not only overcoming challenges associated with the coronavirus but doing it with an emphasis on safety.” Hitt said manufacturers are accustomed to difficult and sometimes dangerous challenges, See HITT, Page 13

Is your workforce sleepy?

Clemson professor researches the effects of sleeplessness on the workplace. Page 12

tgriffis@scbiznews.com

he pandemic has helped Americans appreciate the value in a dollar — and a dollar store. According to a third quarter report by Colliers International South Carolina, activity at discount stores is intensifying during the

pandemic as consumers look to buy goods at cheaper rates close to home. “What we’re seeing is discount stores are the big winners in the pandemic,” Colliers of Charleston Brokerage Associate Patrick Nealon said. “Dollar General’s net sales for 2020 quarter three are up 25% year over year, and that’s huge.” Dollar Tree and Family Dollar, owned by

Remote living

The pandemic drives sales in areas previously only considered for second homes. Page 10

Paul Haire of GrowFood Carolina holds a box of shishito peppers. (Photo/Anthony Mirisciotta)

Scoring S.C.

Credit scores across Southeast show consumer buying power. Page 3

Military and more

Lockheed Martin has been a longstanding part of S.C.’s manufacturing sector. Page 20

INSIDE

Upfront ................................ 2 SC Biz News Briefs ................ 3 Best Advice .......................... 4 In Focus: Aerospace ........... 15 List: Aviation & Aerospace Companies - Statewide ......24 Bonus List: Regional Airports ...............26 At Work ..............................27 Viewpoint ........................... 31

OUTGROWING A PANDEMIC Nonprofit pivots to safeguard farmland in South Carolina

By Teri Errico Griffis

tgriffis@scbiznews.com

eading into 2020, more than 70% of GrowFood Carolina’s sales revenue came from aggregating produce from

state farmers and supplying it to restaurants. Then one mid-March day, chefs stopped calling and orders for locally grown goods ran dry overnight. See GROW, Page 6

the same company, have both seen a 10% year-over-year increase. While Five Below, a chain that sells books, clothes and more under $5, only saw a small rise in its overall sales, it opened 62 locations in 2020 and will continue to open more, Nealon said. The company, which has a location at

Fall 2020

See STORES, Page 8

By Andy Owens

Z Nursing

ZHealth Science

Convenient day, evening, and online classes.

LEARN MORE TODAY!

aowens@scbiznews.com

ost of the companies receiving emergency loans to retain jobs in South Carolina in the early days of the pandemic will qualify for a streamlined forgiveness program. That could mean more than $76 million would not have to be paid back by businesses in the Palmetto State. Small businesses in South Carolina used that money to save 134,506 jobs, according to Small Business Administration data. In the early days of the pandemic, South Carolina businesses borrowed more than $5 billion to save an estimated 658,000 jobs through the Paycheck Protection Program. Most of those loans in South Carolina were for $50,000 or less. Overall data from the Small Business Administration shows that 67.6% of the 63,168 Paycheck Protection Program loans written to companies in South Carolina were for smaller amounts.

Headwinds

S.C. aerospace industry meets challenges, embraces new opportunities

Employer Partnership Programs allow businesses to train and support employees.

803.610.4111 | ECPI.EDU

See PPP, Page 9

Aerospace workforce Trident Technical College and others in the statewide system help fuel growing aerospace sector. Page 18

County Spotlight: Spartanburg | Trending: Aerospace in S.C. | S.C. Delivers

GSABusinessReport.com

Skills based, hands-on career focused education driven by industry needs.

EDUCATING COLUMBIA’S WORKFORCE

PPP forgiveness eased, as delays concern lenders

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With publications in the Upstate, Columbia and Charleston, as well as a statewide magazine, SC Biz News covers the pulse of business across South Carolina. Above are excerpts from our other publications.

Jonathan Dawley President and CEO, Kion North America

VOLUME 23 NUMBER 22 ■ GSABUSINESS.COM

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November 23 - December 6, 2020

MIDLANDS NEWSROOM Editor - Melinda Waldrop mwaldrop@scbiznews.com • 803.726.7542

MIDLANDS ACCOUNT EXECUTIVE Senior Account Executive - Lucia Smith lsmith@scbiznews.com • 803.726.7547

LOWCOUNTRY NEWSROOM Executive Editor - Andy Owens aowens@scbiznews.com • 843.849.3142 Editor, Custom Publishing Division Steve McDaniel smcdaniel@scbiznews.com • 843.849.3123 Digital Assistant Editor - Alexandria Ng ang@scbiznews.com • 843.849.3124 Research Specialist - Paige Hardy phardy@scbiznews.com • 843.849.3125 Staff Writer - Teri Errico Griffis tgriffis@scbiznews.com • 843.849.3144

UPSTATE NEWSROOM Editor - Ross Norton rnorton@scbiznews.com • 864.720.1222 Associate Editor, Custom Publishing Division

The Columbia Fireflies will change their Major League Baseball affiliation from the New York Mets to a club to be announced soon. The Fireflies have been affiliated with the Mets for more than a dozen years, going back to their history in Savannah. (Photo/Melinda Waldrop)

Fireflies changing Major League Baseball affiliation

Jim Tatum jtatum@scbiznews.com • 864.720.2269 Staff Writer - Molly Hulsey mhulsey@scbiznews.com • 864.720.1223

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President and Group Publisher - Grady Johnson gjohnson@scbiznews.com • 843.849.3103 Creative Director - Ryan Wilcox

Staff Report

he Columbia Fireflies will have a new Major League Baseball affiliate in 2021, to be announced at a later date. The Fireflies, who began play in Columbia in 2016, have been a Class A affiliate of the New York Mets for more than a dozen years. The Fireflies previously played in Savannah, Ga., where the team was known as the Sand Gnats. The Mets announced Nov. 10 that three of their four affiliates will be in the state of New York (Syracuse, Binghamton and Brooklyn) in 2021, with a fourth located at their spring training facility in

Port St. Lucie, Fla. Major league teams are emphasizing geography for their affiliates as part of MLB’s ongoing restructuring of minor league baseball. Earlier this month, the Charleston RiverDogs announced their 15-year affiliation with the New York Yankees would end. The Fireflies’ home, Segra Park, was named Ballpark of the Decade by Ballpark Digest and is assured of a place in the revamped minor league system, the Fireflies said in a statement. The team said its new affiliation would be announced in the coming weeks. Columbia’s former minor league team, the Capital City Bombers, was also affili-

ated with the Mets. The Bombers relocated to Greenville in 2005. “The Fireflies would like to thank the New York Mets for more than a dozen years of affiliation between Savannah and Columbia, with highlights including five playoff appearances, the 2013 South Atlantic League Championship and our first homegrown player in Spring Valley High School/(University of) South Carolina outfielder, Gene Cone,” the Fireflies said in a statement. “Our Mets affiliation also brought us players like two-time Cy Young Award winner and 2014 NL Rookie of the Year Jacob DeGrom, Steven Matz, Dominic Smith and Andrés Giménez.”

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www.columbiabusinessreport.com 5

Brewer to invest $400 million in Columbia market

Staff Report

ark Anthony Brewing, the U.S.’s fourth-largest brewer, is investing $400 million in a brewery and production facility in Richland County expected to create 300 jobs. Chicago-based Mark Anthony Brewing provides brewing services and supply chain management for the Mark Anthony Group and produces hard seltzer and flavored malt beverages including White Claw Hard Seltzer, Mike’s Hard Lemonade and Cayman Jack Cocktails. “Mark Anthony is a private, entrepreneurial company, built through innovation and by making long-term strategic investments in projects like this,” John Sacksteder, president of Mark Anthony Brewing, said in a news release from Richland County. “One of the primary reasons we selected Richland County was the spirit of collaboration and engagement from the state of South Carolina, the South Carolina Department of Commerce and the Richland County Council that have embraced our vision and understand our ambitious timeline to transform this location

“We are thankful for opportunities to bolster our local economy, and Mark Anthony Brewing’s arrival is an economic game changer for Richland County.”

to come our way in years,” Richland County Council Chair Paul Livingston said. “Thanks to County Council’s unwavering commitment to invest in the future of our residents and the efforts of many people who worked to make this project a reality, our community has gained a substantial investment in our collective future. “We are thankful for opportunities to bolster our local economy, and Mark Anthony Brewing’s arrival is an

economic game changer for Richland County.” The Coordinating Council for Economic Development approved project-related job development credits and awarded a $4.6 million Set-Aside grant to Richland County for infrastructure improvement. Richland County also received a $1.5 million LocateSC grant to offset costs of acquiring and developing adjacent property to support inventory for rail-served industrial sites.

Paul Livingston Chair, Richland County Council

from initial concept to a fully operational facility in record time.” The facility, to be located in Pineview Industrial Park in Columbia, will be more than a million square feet and is expected to be operational by summer 2021. Employment information is available at https://www.readysc.org/markanthonybrewing/. “Mark Anthony Brewing’s selection of Richland County is one of the biggest economic development initiatives

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November 23 - December 6, 2020

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Richland One educator named Conservation Teacher of the Year

Staff Report

pre-kindergarten educator at Meadowfield Elementary School has been named Richland County’s Conservation Teacher of the Year. Jamison Browder leads environmental education initiatives at the Richland County School District One school, where he has coordinated multiple gardening and bird-watching projects. He was honored with the award from the Richland Soil and Water Conservation District, along with a $100 cash award and a $500 conservation education mini-grant. Browder also advances to the statewide Conservation Teacher of the Year competition, sponsored by the S.C. Association of Conservation Districts. Last year, Browder led a push to acquire a farm-to-table grant for his school, which was used to teach 4-year-old students to grow onions, lettuce and herbs, according to a news release from the county. “Whether he is working with students or adults, Browder portrays himself in a confident, passionate and professional manner that entices people to join conservation and planting efforts,” Meadowfield principal Lisa Davis said. “His dedication

Jamsion Browdeer shows off garden beds used to teach students about gardening and conservation. (Photo/Provided)

and compassion are exemplary in every way.” Browder has worked in early childhood instruction for 12 years and has received several other grants to sustain campus gardening initiatives. He recently received his Ph.D. in education from the University of South Carolina. Richland County’s Conservation Teacher of the Year program recognizes educators who prioritize environmental learning. Nominations for the 2021 award can be made online at www.richlandcountysc.gov/ until April 30, 2021.

Richland Library’s Career Online High School program graduates 14

Staff Report

ourteen students, ranging in age from their early 20s to early 70s, have graduated from Richland Library’s Career Online High School. The library held a socially distanced ceremony outside its Southeast location at 7421 Garners Ferry Road on Nov. 8 to recognize the class of 2020. Each graduate received a career certificate in one of 10 high-growth career fields including child care and education, food and hospitality, and office management. “During a time of uncertainty, our graduates persevered,” Melanie Huggins, Richland Library executive director, said in a news release. “They didn’t let a state shutdown stop them. They didn’t let a global pandemic stop them. I’m so proud of their accomplishments, and I can’t wait to hear about their future achievements. This is just the beginning.” The library began offering the online school, which can be completed in as little as five months, in 2018. The program is free to adults age 21 and older who live in

Richland County and does not require a transcript. Interested individuals take an online self-assessment and complete a prerequisite course to begin the program, which includes a personal academic coach and 24/7 online classroom access. Forty-six students are currently enrolled in the school, while around 100 candidates have completed the perquisite course and more than 1,100 have taken the self-assessment, according to the release. The class of 2020 includes: • Crystal Boggs • Sheila Bonaparte • Nyasia Brewer • Shannan Green • Cedric Guide • Shanita Gunn • Tianna Hall • Julis Hampton • Ryan Helms • Amanda Hood • Joyce Potter • Deleonshi Scott • Ebonie Richburg-Sheppard • Diane White

November 23 - December 6, 2020

www.columbiabusinessreport.com 7

S.C. Department of Education purchases $15.3M in online resources

Staff Report

he S.C. Department of Education has purchased digital learning resources from Charlotte-based digital textbook and education resources company Discovery Education to support teaching and learning during the COVID19 pandemic. The department purchased four Learning Management Systems, a Learning Object Repository and a suite of digital learning resources, according to a news release. Funding for the programs, totaling more than $15.3 million during a threeyear period, is being provided through federal pandemic relief. “The purchase of these three platforms and the seamless ability for every South Carolina teacher to access them and incorporate high quality content into their classroom instruction can be a game changer for our state,” S.C. Superintendent of Education Molly Spearman said in the release. “COVID-19 has presented enormous challenges to teaching and learning but this digital platform will help level the K-12 education playing field this school year and

beyond.” A Learning Management System is a software framework through which education content is delivered and managed. Students and educators are assigned licenses to access content and complete assignments. The education department presented four platform options: Canvas, Schoology, Blackboard, and Google Classroom, with student and staff licenses fully funded by the state for the next three years. A Learning Object Repository serves as a digital library of educational content, including Bill Nye: The Science Guy episodes and National Geographic documentaries, that can be shared through the learning management system. The education department chose SAFARI Montage, with access for every teacher paid for through 2023. “The South Carolina Department of Education is providing every school district with a state Learning Object Repository chock full of high-quality digital educational video resources to support teachers, students and parents at home and in school during these challenging educational times,” Andrew Schlessinger, SAFARI Montage CEO and co-founder, said.

SC Biz News acquired by Transom Capital Group Staff Report

integral partner to businesses across the country, providing valuable media and ransom Capital Group, a private marketing services for a long time,” Tranequity firm based in Los Angeles, som partner James Oh said in a statement. has acquired BridgeTower Media “The company has a strong leaderfrom Gannett Co. ship team and has invested in its brands BridgeTower is the parent compa- to be a market leader today. Our plan is ny of SC Biz News, which publishes the to continue on the success the team has Columbia Regional Business Report, achieved and invest in technology and the Charleston Regional Business Jour- resources to stay ahead of the dynamic nal, GSA Business Report, S.C. Lawyers market.” Weekly, N.C. Lawyers Weekly, The MeckTransom focuses on middle-market lenburg Times and SCBIZ magazine, companies. among other publications. The firm, founded in 2008, had more SC Biz News also produces events than $600 million in assets under manincluding Women of Influence and Icons agement as of March 2020. and Phenoms. “We’re excited to partner with TranIn 2019, the company was purchased som to expand our business and strengthby Gannett in a $1.13 billion deal that en our commitment to the markets we saw the country’s two largest newspaper serve,” BridgeTower CEO Adam Reinechains merge. bach said in a news release. BridgeTower Media provides busi“The culmination of this deal is a tribness-to-business information, research, ute to the resiliency, dedication and creevents and marketing solutions to more ativity of our people, whose collective grit than 25 markets and industry sectors is unmatched. We’re thrilled to find an across the U.S. investment partner who shares our vision “BridgeTower Media has been an for the future.”

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November 23 - December 6, 2020

Palmetto Infusion executives win regional entrepreneur award

Staff Report

he CEO and the founder of Palmetto Infusion, a Columbia-headquartered ambulatory infusion company with 22 clinics throughout the Southeast, have been named winners of global professional services network Ernst & Young’s Entrepreneur of the Year awards in the Southeast region. Gary Cooper, founder of Palmetto Infusion, and CEO David Goodall were among 12 honorees chosen from more than 30 finalists, according to a news release. The company has more than 300 employees serving more than 8,000 patients, according to the release. “Strong and effective leaders are able to remove fear from chaotic situations. I’m proud of the way that David, myself, and the rest of the leadership team were able to comfort, encourage, and inspire our employees during the COVID-19 crisis,” Cooper said. “Over the last couple of years, we’ve appointed some amazing individuals to different leadership posts in the company, and this spring, we watched them truly shine.”

Award nominees are based on criteria including overcoming adversity, financial performance, societal impact, innovation, and talent management. Since its launch in 1986, the program has recognized business leaders in more than 145 cities and 60 countries. Regional award winners move on to competition for national Entrepreneur of the Year awards, to be announced later this month. Those winners will then compete for the title of World Entrepreneur of the Year, to be announced in June 2021. Palmetto Infusion, founded in 1999, has clinics and in South Carolina, North Carolina and Georgia that provide treatment for patients living with chronic and acute diseases. The company also has a home infusion business. “I’ve always been inspired by people who show great bravery in the face of adversity. Our patients and our staff are the very best example of this ability, and I’ve had the opportunity to witness it each and every day,” Goodall said. “I lead with this example in mind, encouraging our team to be resilient--no matter the challenge at hand.”

S.C. receives $1.14 million to increase health care safety

Staff Report

outh Carolina has received $1.14 million in federal funds to increase safety of patients and health care workers in health care settings. The funding is part of a new Center for Disease Control and Prevention initiative aimed at helping prevent the spread of COVID-19 and other infectious diseases in health care facilities nationwide, according to a news release from the S.C. Department of Health and Environmental Control. The $180 million program, called Project Firstline, features training for staff in hospitals, outpatient clinics, dialysis centers, nursing homes, and other facilities. “This will greatly increase our capacity across the state to respond to COVID-19 and other infections in health care settings,” Dr. Abdoulaye Diedhiou, director of DHEC’s Division of Acute Disease Epidemiology, said in the release. Project Firstline includes short training modules, townhall discussions, and

“This will greatly increase our capacity across the state to respond to COVID19 and other infections in health care settings.” Dr. Abdoulaye Diedhiou Director, DHEC Division of Acute Disease Epidemiology

tele-mentoring. “We have highly skilled, dedicated infection preventionists at DHEC and at our healthcare facilities who are doing great work, but we need more capacity and expanded training,” Diedhiou said. “The point is to increase the amount of education, awareness, and expertise necessary to make sure health care workers and patients know what to do to prevent infections and keep themselves healthy.”

November 23 - December 6, 2020

www.columbiabusinessreport.com 9

Unemployment insurance taxes won’t increase for many

Staff Report

nemployment insurance tax rates for 86.3% of S.C. employers will remain unchanged or decrease for 2021, and there will be no flat rate tax increases for employers, the S.C. Department of Employment and Workforce announced today. The agency credited the S.C. General Assembly’s approval of $920 million in pandemic relief to freeze 2021 taxes and replenish the state’s Unemployment Insurance Trust Fund. “We anticipate saving South Carolina employers an estimated $172.4 million in UI taxes in 2021, significantly reducing the impact of the pandemic on employers,”

Dan Ellzey, DEW executive director, said in a release from the agency. “This keeps money in the pocket of businesses as they look for additional ways to rebuild, re-open and continue to re-hire.” From 2019 to 2020, S.C. businesses saw an average reduction of about 34% in unemployment tax rates. Normally, employers’ tax brackets are based on their use of the UI Trust Fund, with businesses incurring more taxes for more layoffs, but in March, DEW announced that employers would not be penalized financially for any COVID-19 related job losses. Without CARES Act funding, the fund would have faced a rebuild of approximately $885 million between 2022 and

2025, DEW said. Because of the additional resources, current projections show an expected rebuild of between $6.1 and $73.6 million during the next four years, the agency said. Individual businesses may still move between tax classes based on unemployment claim activity prior or unrelated to the pandemic. Tax rate notices were mailed to businesses Nov. 13 and are also available online in employers’ State Unemployment Insurance Tax System accounts. Tax rates for 2021 are also available online at https:// dew.sc.gov/employers/tax/tax-rate. South Carolina borrowed nearly $1 billion from the federal government from 2008-2011 during the Great Recession to provide unemployment benefits. That loan

was paid off early in 2015, the same year the Legislature required DEW to rebuild the trust fund within five years to a level that would cover benefits needs of a typical recession cycle. The fund became solvent last November. “South Carolina is fortunate to have understood the importance of fiscal responsibility while we enjoyed the greatest economy in our state’s history,” S.C. Gov. Henry McMaster said in the release. “Nobody could have predicted the pandemic’s impact on our nation and state, but because of our collaboration with DEW leadership and members of the General Assembly, we were able to have confidence that our state’s unemployment system was financially prepared.”

Lexington Medical Center receives national recognition

Staff Report

exington Medical Center is one of 30 health care organizations the U.S. to receive HeartCARE Center National Distinction of Excellence recognition from the American College of Cardiology.

The distinction is the highest honor awarded by the ACC, according to a news release from Lexington Medical Center. It recognizes hospitals for commitment to comprehensive, high-quality culture and cardiovascular care through accreditations and ongoing registry reporting. LMC is the only S.C. hospital with the

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accreditation, according to the release. “Since Lexington Medical Center began its comprehensive cardiovascular care program in 2012, we have strived to provide the best possible heart care to our families, friends and neighbors,” Tod Augsburger, president and CEO of Lexington Medical Center, said in the release.

In July, Lexington Medical Center became the first hospital in the state and the second in the country with an accredited ACC cardiac cath lab. In September, Lexington Medical Center became the ACC’s first certified transcatheter valve program in South Carolina and one of 14 nationally.

www.columbiabusinessreport.com

PPP, from Page 1

one-page form that would allow all but the largest loans to be forgiven. That way businesses could focus on staying in business instead of tracking down paperwork or hiring an accounting firm to ensure compliance, said Fred Green, president and CEO of the bankers association. “The good news is that SBA finally did come out with a revised and more simplified forgiveness form at the $50,000 level,” Green said. “What it does at that level it applies to about two-thirds of all the PPP loans in numbers. That’s the good news.” The bad news is that it only impacts about 10% of the dollars that banks put on their balance sheets as debt when the program began, he said. Green said that means if another stimulus program is passed that includes paycheck protection loans, banks might not have the capacity to participate. Banks and financial institutions across South Carolina ramped up to help small businesses when the PPP was approved. They worked overtime and put in processes, many that hadn’t existed before, to handle the loans with the idea that most of the money would be forgiven and paid back quickly. “At that level, it’s

November 23 - December 6, 2020

“The good news is that the SBA finally did come out with a revised and more simplified forgiveness form at the $50,000 level.” Fred Green President and CEO, S.C. Bankers Association

about 85% of the numbers and 80% of the dollars. The reason that’s important is all of the loans these banks made were anticipated to have been forgiven, really in about three to four months,” Green said. “Now we’re six months into it and very few if any have been forgiven by the SBA.” In early October, the SBA laid out new forgiveness regulations, giving a majority of borrowers guidelines for switching their low-interest loans into a grant that doesn’t have to be paid back. The page and a half document simplifies the process for converting the paycheck protection loans into grants that would be covered by federal dollars. If a small business received a loan of $50,000 or less, they can use the simplified form and documentation regulations to receive loan forgiveness. The revised regulations allow lenders

to use documentation from the borrowers to confirm the costs associated with PPP borrowing and forgiveness, the SBA said. Green said that was exactly the kind of documentation that bankers and small businesses had been calling for. They only had hoped it would cover more than just loans at the $50,000 level. “The form is a tremendous improvement on the original,” Green said. Also, the new regulations exempt small businesses receiving PPP loans even if they have had to reduce full-time-equivalent employees or cut staff wages. The benefit of this is they will have to document costs, including nonpayroll costs, but the FTE figures that require complicated calculations won’t be necessary. Green said that bankers across the nation, not just in South Carolina, dove headlong into the PPP program when

asked to step up to help keep people on the job, and with the possibility that a second stimulus coming, they’re concerned about helping new and existing customers. “Once again the banks really took a big leap of faith that SBA and Treasury would honor the intent because this thing was being built as they were making loans,” he said. He said that some of his members have reported that it can take seven to eight hours to go through the process of each loan, which with 63,000 loans is a tremendous amount of hourly labor. He said some of the community banks that participated in the program saw their balance sheets swell 10% in 90 days, which would be fine if most of that money was paid back or forgiven quickly. He said banks, in many cases, are small business partners with other small businesses trying to navigate the pandemic. “There is a good bit of frustration out there with the small business folks,” Green said. “Their intent was to keep people on payroll, and they did it according to the rules, and there’s still an obligation.” Reach Andy Owens at 843-849-3142.

COMET seeks input into bus network redesign

The Central Midlands Transit Authority is seeking input into a twoyear planning study that could redesign the entire COMET bus network. Two design concepts and a public survey are available online on a project website, with two vitual public meetings planned for next month on Dec. 2 and Dec. 9. (Photo/File)

Staff Report

he Central Midlands Transit Authority is seeking public input into the future of a redesigned bus network. Two concepts – a coverage concept and a ridership concept – are available online for public perusal at https://reimaginethecomet.org, part of a two-year planning study involving the COMET and its community partners. The existing network may be redesigned as early as 2022, according to the COMET website, with changes to every route possible. The coverage concept would increase the area served by the COMET, though it could lengthen route times. The ridership concept would include frequent service in high-traffic areas but may not serve less-traveled routes. A public survey is available on the project website, and the planning process will also include two virtual public meetings next month. The meetings will be held on Dec. 2 from noon until 1 p.m. and on Dec. 9 from 6 p.m. until 7 p.m. Registration for the meetings is available online, where people can also sign up for update notifications. This summer, the COMET underwent nearly half a million dollars in upgrades to a pair of facilities, including fresh paint,

a security fence, and additional security. The downtown hub, formerly known as the Sumter Street Transit Center and renamed COMET Central, had been closed since late March. Its reopening also included upgrades to the Columbia Place Mall SuperStop off Two Notch Road. Upgrades to both facilities had been scheduled for first the quarter of 2020. The COVID-19 pandemic necessitated

increased safety and security measures, some of which were paid for through federal relief funds. The improvements, which included new landscaping, a Little Free Library and newspapers for COMET Central customers, cost approximately $498,000. COMET Central upgrades also featured a short story dispenser, rocking chairs, an ATM and vending machines. A

Yellow Shirt Ambassador from City Center Partnership will be on site, as will an increased police presence and additional janitorial staff. Improvements to Columbia Place Mall SuperStop included the consolidation of four bus stops into one central location with bus shelters, lighting and trash cans. The location also received landscaping and sidewalk improvements.

November 23 - December 6, 2020

www.columbiabusinessreport.com 11

$13 million in grants approved for 19 S.C. counties

Staff Report

he S.C. Rural Infrastructure Authority has approved $13 million in grant assistance for 28 water, sewer and stormwater infrastructure projects throughout South Carolina. The grants will be combined with more than $15.6 million in local and other funding to addressing health and environmental concerns including water quality, sewer overflows or frequent flooding, according to a news release. Other projects will replace or upgrade aging infrastructure or expand or improve existing infrastructure. Combined, the projects will benefit more than 53,000 customers in 19 counties. “Even as many communities face increased expenses and decreased revenues as they respond to today’s challenges, the infrastructure that residents and businesses depend on continues to need improvement,” Bonnie Ammons, RIA executive director, said in the release. “The investments we

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make today are crucial to maintaining public health and environmental standards and providing the foundation for strong local economies.” RIA grants are awarded twice a year through a competitive process that considers public health, environmental, community sustainability and economic development factors. Recipients share in project costs by paying for non-construction activities and often providing additional construction funds. The recipients of the first round of grants for fiscal year 2021 are: • Anderson County, $490,000, sewer system improvements • City of Barnwell, $500,000, water system improvements • City of Camden, $500,000, water line improvements • City of Dillon, $471,000, water system improvements • Dorchester County, $260,000, economic water and sewer infrastructure • City of Easley, $483,603, drainage system upgrades

• Fairfield County, $500,000, economic water infrastructure • Gaffney Board of Public Works, $54,617, water system improvements • Gilbert Summit Rural Water District, $500,000, water line improvements • City of Goose Creek, $500,000, water line improvements • Greenville County/Blue Ridge Rural Water Co., $500,000, water line improvements • Greenwood Commission of Public Works, $400,000, economic water infrastructure • City of Hartsville, $500,000, water system improvements • Town of Kershaw, $649,875, water line improvements • City of Lake City, $497,555, economic water and sewer infrastructure • City of Lancaster, $409,350, economic water infrastructure • Laurens Commission of Public Works, $500,000, sewer system improvements

• Laurens County Water and Sewer Commission, $500,000, water line improvements • City of Liberty, $259,875, sewer system improvements • City of Loris, $500,000, economic sewer infrastructure • Lugoff-Elgin Water Authority, $900,000, economic water infrastructure • Metropolitan Sewer Subdistrict, $500,000, sewer system improvements • City of Myrtle Beach, $500,000, sewer system improvements • Ninety-Six Commission of Public Works, $222,200, economic water infrastructure • Town of Olanta, $429,023, sewer system improvements • Town of Santee, $500,000, sewer system improvements • City of Sumter, $500,000, economic water and sewer infrastructure • Town of Williston, $500,000, water system improvements

www.columbiabusinessreport.com

November 23 - December 6, 2020

THE NEWEST ADDITION TO THE SC BIZ NEWS FAMILY What’s new on SCBIZtv this week? Check us out on YouTube. With more than 100 archived videos (and counting), you’ll find a wide variety of businessrelated content, including: Virtual awards shows, Power Events, interviews with high-level business executives and several ongoing video series, including Coffee With…, 120 Seconds, Industry Trends and Coping with Covid. Here’s just a taste of what you’ll find on SCBIZtv this week

VIRTUAL AWARDS SHOWS

120 SECONDS

COFFEE WITH…

COPING WITH COVID

From Women of Influence in the Upstate to Forty Under 40 in the Lowcountry to Icons and Phenoms in the Midlands, you’re sure to find executives you know being honored in a variety of ways.

Business executives sharing insight about their business, the industry in which they work and the community in which they live.

CEOs answering as many questions as they can in two minutes. You’ll definitely learn something personal about the executive and get a thoughtful answer on a serious topic to boot.

Explores the impact the Coronavirus is having on our daily lives, both at home and at the office.

This is just a sampling of what you’ll find on SCBIZtv. Check us out on YouTube to find a complete library of archived videos.

In Focus

NEXT ISSUE’S FOCUS:

AEROSPACE LISTS: Aviation & Aerospace Companies - Statewide, Page 16

Architecture, Engineering and Construction

Why South Carolina?

Boeing’s consolidation of the 787 Dreamliner assembly lines in North Charleston could lead to future economic development deals By Teri Errico Griffis

tgriffis@scbiznews.com

oeing sales may be down now, but North Charleston Mayor Keith Summey said the company’s decision to consolidate 787 manufacturing to South Carolina will prime them for when the airline industry bounces back. Throughout the summer, rumors flew worldwide about a Boeing consolidation after President and CEO Dan Calhoun said the company would perform a study to determine if the slowing demand for jets would require the company to move 787 final assembly operations to one location. Whispers hinted toward South Carolina, with aerospace reporters and consultants offering ongoing analyses like they were calling the run up to the World Series. But the stakes couldn’t have been higher for North Charleston and Everett, Wash., which continued to serve the hub of Boeing manufacturing even after the company decided to also build 787s in South Carolina. Then on Oct. 1 Stan Deal, president and CEO of Boeing Commercial Airplanes, sent a letter to Boeing employees with the final call: “To ensure we can be effective in a market that will be smaller in the nearterm, and one that will have different demands from our customers long-term, we made a decision earlier this morning to consolidate 787 production in South Carolina after months of detailed and thorough study,” Deal said. South Carolina had won ... but only because someone else lost hundreds of jobs. The decision was best for the longterm strategy of the company, Deal said, and ensured a bridge to recovery and a sustainable future. “For months, teams studied options, engaged all of our stakeholders, including unions, and considered a number of factors including logistics, efficiency and long-term health of our production system,” he said. “It became clear that consolidating to a single 787 production location in South Carolina will make us more competitive and efficient, bet-

Singapore Airlines took delivery of the first 787-10 Dreamliner. The aircraft’s final assembly takes place exclusively at the company’s manufacturing site in North Charleston. (Photo/Kim McManus)

Boeing in S.C.

The Boeing Co.’s consolidation of 787 Dreamliner final assembly lines in South Carolina is part of a multi-year publicprivate partnership between the company, the state and regional economic developers.

No. 1

The first 787 Dreamliner assembled in North Charleston was delivered to Air India on Oct. 5, 2012.

36 million

Millions of pounds of structural steel were used to build the Boeing S.C. plant on International Boulevard in North Charleston using 450,000 bolts.

1.2 million

The 787 final assembly plant in North Charleston covers more than 1 million square feet, nearly a fifth of a mile long and an eighth of a mile wide.

7,000

When Boeing was fully operational, the company employed thousands of workers in North Charleston, making it the largest manufacturer in the Charleston region.

100%

ter positioning Boeing to weather these challenging times and win new business.” For now, North Charleston will continue to be the only 787-10 producer in the world. Washington will continue to manufacture 787-8 and 787-9 jets over the next few months until production tapers in mid-2021 to its previously

announced rate cut of six jets per month. “I think that the success they’ve had here comes from the fact that all the planes ended up in North Charleston before distribution anyway for their final inspections, the painting, and what have See BOEING, Page 14

Boeing’s facility in North Charleston was the company’s first 100% renewable energy site with more than 18,000 solar panels covering much of the roof area of the operation.

10 acres

Solar panels cover about 10 acres of Boeing S.C., producing up to 2.6 megawatts of energy used to power Boeing S.C. Source: Boeing S.C.

IN FOCUS: AEROSPACE

www.columbiabusinessreport.com

BOEING, from Page 13

you. Then they left here whether they were manufactured on the West Coast or East Coast,” Summey said. Boeing did not receive any new state incentives or formal agreement, S.C. Department of Commerce spokesperson Alex Clark said, but there are plenty of other advantages to consolidating in South Carolina, which might make the move make sense for the aircraft manufacturer. South Carolina is a right-to-work state with the lowest unionization rate of any state in the nation. Boeing also has ample room for expansion near Charleston International Airport and soon will offer a new access road to give the airport direct access to the plant — a process that has accelerated with the prospect of consolidation. Officials say approval for the plan should come in the next six months or so. Summey said it makes sense that Boeing chose Charleston County a second time. “Boeing and South Carolina have been partners since 2009,” Clark said. “We are extremely proud that Boeing, through this announcement, has expressed confidence in the long-term future of the 787 in South Carolina. We will continue to work collaboratively with Boeing to ensure the best business environment for Boeing to succeed and continue bringing substantial benefits to the Charleston

“Boeing credits our building department as being able to complete their phase of building on time and under budget.” Keith Summey Mayor, North Charleston

region and the entire state.”

How Boeing landed

Back in 1996, when the Navy base closed in North Charleston after 95 years, Summey said it was a wake-up call for the city to recruit more non-government jobs that were higher paying and would be stronger for the economy. A little over a decade later, a Boeing supplier, Vought Aircraft Industries, came along with the possibility of creating high-end aerospace jobs in the Lowcountry as part of the company’s new 787 Dreamliner global supply chain. When Vought struggled, Boeing bought the plant in North Charleston in 2009 and took over operations in a move that set off a fight with union leaders anchored one of the most visible manufacturers in South Carolina. The move attracted suppliers to the area and create

thousands of jobs. Having Boeing in the Charleston market also caught the attention of site selectors across the globe. Suddenly, North Charleston was a Boeing market. Early limited production of the jets began in 2011 with the first airplane rolled out of South Carolina’s final assembly on April 27, 2012, and the first flight a month later on May 23rd. The Boeing campus near Charleston International Airport has undergone several expansions and build-outs, including a deliver center, paint facility and expanded final assembly operations. Today Boeing employs 7,000 people at its South Carolina facilities, making it both the largest private sector and the largest manufacturing employer in the county according to Charleston County Economic Development. North Charleston Economic Development Director Ryan Johnson said North Charleston’s eagerness to make the building process as easy as possible for Boeing was a win-win for everyone. It pleased the airline manufacturer and in turn, kept them here, stimulating the economy. “In the time that it took to plan, permit and construct their facility here, Boeing said on the West Coast they would have just been through the permitting process,” he said. To speed things along, the city proactively provided assets like an inspector on

November 23 - December 6, 2020

site who could immediately review processes as they happened. “Boeing credits our building department as being able to complete their phase of building on time and under budget,” Summey said. Although absorbing another factory typically connotes growth, Summey doesn’t see Boeing expanding its operations any time soon given its limited production numbers and the ongoing pandemic. Right now, things can be handled with the staff and operations Boeing currently has in place in North Charleston, he said. However, as the economy grows back and passengers adjust their mindset to feel comfortable flying again, Summey expects jobs to increase again within the next three years. Regional employment will include not only Boeing jobs and those of its suppliers, but spinoff roles that are affected by retail and home sales. “When you’re not just building new industries, you’re creating new housing, new back-up support for that housing, retails, schools, things of that nature,” Summey said. “We all benefit from that long term. I think it’s a great approach and something that shows all the tri-county is working together to accomplish the same goals.” Reach staff writer Teri Errico Griffis at 843-849-3144.

November 23 - December 6, 2020

IN FOCUS: AEROSPACE

www.columbiabusinessreport.com 15

Jasper County School District - C.A.T.E. Center

Lockheed Martin’s aerospace operations in Greenville repurposes and maintains military and civilian aircraft for several clients and manufactures the company’s F-16 Fighting Falcon. (Photo/Provided)

Lockheed Martin ramps up production for aerospace in S.C. By Molly Hulsey

mhulsey@scbiznews.com

f anything, 2020 has reminded us how quickly a year can change things. While the new decade may have wielded crushing losses to the commercial aircraft industry, Greenville’s Lockheed Martin plant has boosted production almost three-fold since the company began compiling components for its first South Carolina-born F-16 Fighting Falcon last November. At that point, the only finalized contracts in place for Greenville ensured the delivery of 16 Fighting Falcon jets to the Royal Bahraini Air Force for $1.12 billion and 14 F-16 aircraft to Slovakia, the first of which had been sealed in 2018 when the defense giant announced the transition of F-16 production from its plant in Fort Worth, Texas. Interest from allies across the world pulled the fourth-generation fighter back from the brink of retirement since the F-35 Lightning II, now manufactured in Fort Worth, began to eclipse the Fighting Falcon on home soil. The move opened up room for greater F-35 production in Texas and will bring an expected 400 jobs to the Greenville facility, which had been used only for maintenance and refurbishment in the past. Since then, F-16 sales have blossomed through a $5.1 billion contract for the Bulgarian Air Force, finalized in April, and a $62 billion contract for 90 Fighting Falcon jets announced in August by the U.S. Department of Defense. At least 66 of the 90 aircraft are part of a controversial deal with Taiwan, originally approved in its first iterations by the U.S. State Department in late 2019. According to an earlier report, the deal has repetitively come under fire from China, which views Taiwan as an extension of territory under the mainland government instead of a separate political entity.

The other 24 jets projected by the deal are slated for Moroccan use, according to international media reports. “Lockheed Martin’s been here for 35 years, built some strong partnerships, and it’s continuing to perform under its existing contracts for customers that we have,” Ben Peat, deputy site director and senior programs manager at Lockheed Martin, said earlier. “Even through this COVID period, we’ve seen strong growth and we’ve continued to perform … we’re mission essential because we’re supporting the war fighters.” Production on the first plane, bound for Bahrain, is expected to take two years, according to Leslie Farmer, spokesperson for Lockheed’s Greenville plant. After the first plane is assembled, Lockheed Martin plans to produce as many as four jets per month, or one jet for each contract. Farmer confirmed that production at Lockheed is continuing as scheduled this November without any major updates. Peat remains confident in a healthy defense aircraft market moving forward but especially in the Lockheed Martin’s decision to move production to Greenville. One of the strongest pulls to the area was “very attractive labor market” and lower cost of living than in many other locations across the United States, he said. Another was the existing industrial base and its corresponding network of partners, such as the Commerce Department and industry organizations like S.C. Aerospace, the S.C. Aviation Association and the S.C. Manufacturers Alliance. “Truly, Greenville is a unique place and I have to give credit to Greenville — the location, the community and the city — for creating such a great place to do this work here,” Peat said. “And when I say that, what I mean is, it is not a hard place to attract people to come here and live and spend their life here.” Reach Molly Hulsey at 864-720-1222 or @mollyhulsey_gsa on Twitter.

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IN FOCUS: AEROSPACE

www.columbiabusinessreport.com

November 23 - December 6, 2020

Aviation & Aerospace Companies - Statewide Ranked by No. of Employees Statewide

Employees: Statewide / Worldwide

Company

Phone / Website / Email

Top Local Official(s) / Year Founded

Boeing South Carolina 5400 International Blvd. North Charleston, SC 29418

312-544-2000 www.boeing.com

Lane Ballard 1916

7,000 160,000

Fabrication, assembly and integration of major 787 Dreamliner components and interiors; final assembly and delivery of 787 Dreamliner airplanes; engineering design and production support; information technology

AVX Corp. 1 AVX Blvd. Fountain Inn, SC 29644

864-967-2150 www.avx.com inquiry@avx.com

Nicholas A. Kovalsky 1972

1,500 14,000

Manufacturer and supplier of electronic components and interconnect, sensor, control and antenna solutions

Eaton Aerospace Group, Fuel & Motion Control Systems Division 7230 Cross County Road North Charleston, SC 29418

843-207-3232 www.eaton.com

Charles P. Roark 1911

950 100,000

Manufactures aerospace component products and machined aircraft parts

Lockheed Martin 244 Terminal Road Greenville, SC 29605

864-299-3350 www.lockheedmartin.com

Mike Fox 1984

750 110,000

Aircraft production, maintenance, modification, repair and overhaul

Parker Hannifin Corp. 1460 Garrott Ave. Moncks Corner, SC 29461

843-719-8100 www.parker.com

Steve O'Connor 2000

200 50,000

Fuel nozzles for gas turbine fuel systems and military aircraft

Staubli 201 Parkway West Duncan, SC 29334

864-433-1980 www.staubli.us

Roger Varin 1960

200 5,500

Electrical and fluid connectors, robotics and textiles

Southeast Industrial Equipment Inc. 9861 U.S. Highway 78 Ladson, SC 29456

843-552-4825 www.sielift.com contacts@sielift.com

Freddie B. Sims 1993

132 391

Toyota forklifts; new, used and rental equipment, service, parts, warehouse products, automation solutions and dock and door products and services throughout S.C., G.A., N.C. and V.A.

ACL Airshop LLC 500 Park Commerce Road Greenville, SC 29611

864-466-9000 www.aclairshop.com info@aclairshop.com

Steve Townes, Jeff Antinoro, Wes Tucker 1984

115 250

Worldwide provider of unit loading devices, cargo control and air freight products and services for the aviation industry; operates in unit loading device leasing, sales, repair and control, and cargo nets and straps manufacturing

Ranger Aerospace 126 Millport Circle Greenville, SC 29607-5566

864-329-9000 www.rangeraerospace.com info@rangeraerospace.com

Steve Townes 1997

90 435

Private equity management holding company; teams with larger institutional investors to acquire, grow and improve companies in aviation services, aerospace sub-specialties, airfield operations, logistics and defense

Metalworx Inc. 340 Deming Way Summerville, SC 29483

843-402-0999 www.metalworxinc.com lsawer@metalworxinc.com

Michael L. Sawer 1997

67 67

Machining, fabrication, finishing, assembly and engineering services specializing in medical, aerospace and military and sawmill

Venture Aerobearings LLC 8701 Palmetto Commerce Parkway Ladson, SC 29456

843-695-2800 www.ventureaerobearings.com

2007

60 60

Manufacturer of jet engine bearings

ADC Engineering Inc. 25 Woods Lake Road, Suite 210 Greenville, SC 29607

864-751-9121 www.adcengineering.com larryb@adcengineering.com

Larry K. Barthelemy, Fred Guthier, Clay Greene 1990

52 52

Civil engineering, structural engineering, aviation engineering, landscape architecture, land planning, urban, site and sustainable design, recreation planning and design

Leatherwood Manufacturing Inc. 4355 Dorchester Road North Charleston, SC 29405

843-744-4500 www.leatherwoodmfg.com sales@leatherwoodmfg.com

Michael G. Leatherwood 1986

48 48

Contract manufacturing, aerospace, military, commercial and transportation equipment and components; precision metal fabrication, five-axis CNC machining, turning and milling; coordinate-measuring machine systems

Ethos Energy Accessories & Components 240 Parkway East, Suite 100 Duncan , SC 29334

864-848-1543 www.ethosenergygroup.com/accessories

Sandy D. Sprinkles 1990

40 150

Comprehensive testing and overhaul for aero engine fuel nozzles, injectors, harnesses, sensors and engine components

JIT Manufacturing Inc. 428 Oglesby Lane Cowpens, SC 29330

864-463-0581 www.jitmfg.net dan@jitmanufacturing.com

Dan C. Hunter 1992

40 40

Offering a full line of fabrication services including: precision laser cutting, CNC forming, CNC punching, certified welding; services available for machining, powder coating, plating and more; also ISO 9000-2001 and AS-9100 certified

Koops 25 Brookfield Oaks Drive, Suite H Greenville, SC 29607

616-395-0230 www.koops.com info@koops.com

Jeff VanUffelen 1989

40 230

Factory automation systems, designs and builds machines and equipment for manufacturers across industries

Roylco 3251 Abbeville Highway Anderson, SC 29624

864-296-0043 www.roylcoindustrial.com kathy@roylcoindustrial.com

Carolyn Voisin 1990

32 65

Die cutting, sound insulation

OpTek Systems Inc. 12 Pilgrim Road Greenville, SC 29607

864-272-2640 www.opteksystems.com osi@opteksystems.com

Duane W. Dinkel 2006

30 800

Laser processing of optical fiber and micromachined components

Alpha Sheet Metal Works Inc. 9525 Hamburg Road Ladson, SC 29456

843-821-6665 www.alphamachine.com jschady@alphamachine.com

Joseph W. Schady 1956

28 28

Custom metal fabrication

Venture Aviation Group 2102 GSP Drive Greer, SC 29651

864-370-2962 www.venture-aviation.com david@venture-aviation.com

David P. Knoblauch 1998

25 25

Executive aircraft charter and management, aircraft brokerage and maintenance

Accurate Brazing 298B Garlington Road Greenville, SC 29615

864-213-9310 www.accuratebrazing.com brent.davis@accuratebrazing.com

Brent Davis, Greg Lane 2001

24 16,000

KTM Solutions Inc. 603 High Tech Court Greer, SC 29650

864-479-9099 www.ktmsolutions.com info@ktmsolutions.com

Ginger A. Kumler, Seth Withers 2005

22 22

Because of space constraints, sometimes only the top-ranked companies are published in the print edition. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to lists@scbiznews.com.

Area of Specialization

Vacuum brazing, vacuum heat treating and HIP'ing (hot isostatic press); ISO9001, AS9100 and Nadcap heat treat-accredited

Aerospace, structural, design, classical structural analysis, aerospace tooling professionally designed and manufactured (jigs, fixtures and assembly systems)

Researched by Paige Hardy

IN FOCUS: AEROSPACE

November 23 - December 6, 2020

www.columbiabusinessreport.com 17

Aviation & Aerospace Companies - Statewide Ranked by No. of Employees Statewide

Employees: Statewide / Worldwide

Company

Phone / Website / Email

Top Local Official(s) / Year Founded

Solar Atmospheres Southeast Inc. 108 Progressive Court Greenville, SC 29611

864-970-0111 www.solaratm.com salesSC@solaratm.com

Steve Prout, Mike Paponetti 2014

21 217

Provision of AS9100- and Nadcap-accredited vacuum thermal processing services

Dynamic Filtration 606 McGee Road Anderson, SC 29625

864-231-6889 www.dynamicfiltration.com customer.service@dynamicfiltration.com

Howard M. Steele 1997

20 20

Electrical discharge machining filters for all major electrical discharge machines

Greenville Jet Center 100 Tower Drive Greenville, SC 29607

864-232-7100 www.greenvillejetcenter.com melissa@greenvillejetcenter.com

Henry Brown 1986

20 20

Fbo, aircraft refueling service

Lucideon M+P 1 Marcus Drive, Building 4 Greenville, SC 29615

864-297-4417 www.lucideon.com info@lucideon.com

Joe Beagle 2000

20 270

Materials laboratory-testing, characterization, failure analysis, process and product development; Nadcap-accredited; testing and analysis throughout the aerospace and defense supply chain

Multiplastics, division of Curd Enterprises Inc. 476 Long Point Road Mount Pleasant, SC 29464

843-881-0323 www.multiplastics.com sales@multiplastics.com

Paul D. Spies, Deborah D. Herbert 1952

20 20

Plastics vacuum forming, pressure forming and twin-sheet forming, fabrication and assembly; comprehensive design-lab and engineering services for custom plastic parts and packaging; PPE development and production

Izumi International Inc. 1 Pelham Davis Circle Greenville, SC 29615

864-288-8001 www.izumiinternational.com us-sales@izumiinternational.com

Ryutaro Izumi 1977

18 25

Equipment for composite and carbon fiber production, 3-dimensional dispensing robot bioengineering and biomedical applications, prototypes and pilot lines, automation, robots and textile production

Separation Dynamics 611 S. Woods Drive Fountain Inn, SC 29644

864-862-2577 www.separationdynamics.com info@separationdynamics.com

Mike Presley 1986

16 16

Closed-loop water filtration systems to help aerospace manufacturers clean better and manage oily wastewater more efficiently

ATS World Packaging 7370 E. Spartan Blvd. North Charleston, SC 29418

843-266-0010 www.atsworldpackaging.com troth@atsworldpackaging.com

Tom Roth 1997

15 15

Custom crating and packaging products and services, including warehousing and distribution, and export and import compliance

Custom Equipment Co. Inc. 2700 S.C. Highway 41 Charleston, SC 29492

800-922-6120 www.cecmhs.com sales@cecmhs.com

Robbie Lewis, Bobby Riggs 1978

7 8

Storage, i.e., racks, cabinets, lockers, shelving; logistics, i.e., carts, conveyors, tuggers, dollies; facilities, i.e., modular offices, mezzanines, wire partitions and physical barriers; packaging

Harris Group Inc. 7301 Rivers Ave., Suite 175 North Charleston, SC 29406

843-203-7014 www.harrisgroup.com info@harrisgroup.copm

Bryan Wood 1975

Ergo Corp. 212 Riverside Court, Suite B Greer, SC 29650

864-879-1417 www.ergo-corporation.com sales@ergo-corporation.com

Greg Conner, Lacy Strange 1985

5 5

Standard and custom made material handling equipment

Tiger Enterprises & Trading Inc. 512 John Ross Court Pelzer, SC 29669

864-862-3838 www.tigerenterprises.com dwalker@tigerenterprises.com

Dwight D. Walker, Bonnie L. Walker, Dan Hansen 1993

4 4

Sales of aircraft rotable and airframe components, subassemblies, propellers, engines and engine parts to airlines, OEMs, U.S. Department of Defense and defense subcontractors, authorized repair stations and after-market suppliers worldwide

Above & Beyond Inc. 28 Miler Lane Greenville, SC 29607

864-282-2328 aboveinc01@gmail.com

Ted Hanes 2001

3 3

Aircraft repair and maintenance

Aloft Aviation Services 500 Ammons Road Spartanburg, SC 29306

864-972-5661 www.aloftaviationservices.com infoaloftaviation@gmail.com

2019

3 3

Based in Spartanburg, a Part 61 Flight School offering a variety of flight training from flight instructors; specialize in aircraft procurement, management, training and maintenance

Atlanco of SC Inc. 2 Bomar St. Inman, SC 29349

864-472-3832 www.atlancoinc.com jhosa@atlancoinc.com

Judith Hosa Kuszmaul 1989

3 -

Specialized cleaning solution for airplane engine and parts; sales for water and wastewater chemicals

Southeast PowerLift Hydraulic Doors Inc. 7204 U.S. Highway 29 N. Pelzer, SC 29669

864-402-0450 southeast.powerliftdoors.com sales@Southeastpowerliftdoors.com

Janet T. Poole, Curtis D. Poole, Jonathan A. Poole 2016

3 3

Manufacture and installation of one-piece hydraulic hangar doors

Growth Strategies International LLC 2242 Daniel Island Drive Charleston, SC 29492

607-727-4727 www.growth-strategies-intl.com jim.wasson@growth-strategies-intl.com

James W. Wasson 2008

2 2

Technology commercialization consulting, helping companies take an idea and concept through product design, development and market launch and finding seed funding, including research and development grants

NextGen Supply Chain Integrators 4 Research Drive Greenville, SC 29607

864-525-3120 www.nextgensci.com deekivett@nextgensci.com

Dee W. Kivett 2010

2 2

Quality management system consulting and supply chain consulting

TKC Aerospace 224 Seven Farms Drive, Suite 200 Daniel Island, SC 29492

843-856-2495 www.tkca.com tim.summerrow@tkca.com

Tim Summerrow, Sam C. Boyle 2005

2 2

Aircraft engineering and airworthiness certification, modification and sustainment, training and technical publications

Palmetto Sun Balloons 132 Fawnbrook Drive Greer, SC 29650

864-631-3243 www.palmettosunballoons.com roger.clark@live.com

Roger D. Clark 2005

1 1

Hot air ballooning and communications equipment for aviation; hot air balloon rides and flight and ground instruction

Seymour Consulting Inc. 145 Pier View St., Suite 203 Daniel Island, SC 29492

276-494-3575

John C. Seymour 2009

1 1

Aeronautics and propulsion professional development short courses for the civil and defense aerospace industries

Hamilton Automation Inc. 1657 S. Batesville Road Greenville, SC 29650

864-284-0707 www.hamilton-automation.com rob.aldridge@hamilton-automation.com

Jean Jones, Robert H. Aldridge 1999

Design and manufacture custom automated industrial assembly systems, test systems and control systems; factory automation systems integrator

7 100

Area of Specialization

Multidiscipline engineering firm providing planning, design and construction management as advisor services to aerospace, manufacturing and process industries; projects range from small to in-plant projects to large additions and new facilities

Researched by Paige Hardy

www.columbiabusinessreport.com

IN FOCUS: AEROSPACE

November 23 - December 6, 2020

The definitive resource guide for business professionals in the Midlands. The Book of Lists is an indispensable, comprehensive guide that includes information on more than 1,500 companies doing business in the Midlands. Businesses are ranked according to number of employees, revenue, square footage and other criteria, giving you a ready reference on prospective clients. The Book of Lists has a 12-month readership life and appears in print and electronic format. It is distributed to area chambers of commerce, economic development offices and every subscriber and advertiser of the Business Report. Put 12 months of exposure to work for you.

PUBLICATION DATE: December 21, 2020 | ADVERTISING DEADLINE: November 23, 2020

For advertising information, contact Lucia Smith at (803) 726-7547 or lsmith@scbiznews.com

November 23 - December 6, 2020

IN FOCUS: AEROSPACE

www.columbiabusinessreport.com 19

Dreamliners are parked on the flightline at Boeing S.C.’s manufacturing facility in North Charleston. The company plans to expand over several hundred acres near Charleston International Airport and change the entrance to the site with a more direct route in the future. (Photo/Kim McManus)

Aviation Authority extends Boeing’s option-to-purchase lease 10 more years By Teri Errico Griffis

tgriffis@scbiznews.com

s a show of good faith that North Charleston wants to keep Boeing’s business, the Charleston County Aviation Authority has granted the aerospace firm an extra 10 years to purchase the 214-acre property beneath the company’s 787 final assembly plant. In the original 25-year lease signed in 2010 as an incentive to help bring Boeing to the Lowcountry, the company leased the property off International Boulevard for $1 a year from the Aviation Authority. At the time, the general assembly gave Boeing a substantial amount of cash to develop the property, Aviation Authority CEO Elliot Summey said. “The general assembly gives them a couple hundred millions of dollars in cash towards helping to buy down site development. We had to bond that money and a non-government agency cannot be the recipient of bond money,” Summey said. “So the land had to be owned by a government agency, in this case the Department of Public Railways, which is a subset of the Department of Commerce.” At the end of a 15-year bond period in 2025, Boeing would have had the option over a one-year window to pay fair market value for the property. However, Sum-

mey said the Chicago-based aerospace company didn’t feel it would recover in time from the pandemic and asked for an extension. The Aviation Authority not only entertained the idea of an extension but approved an extended 10-year option-topurchase period that runs the length of the land’s lease, which expires in 2035. Summey said the agreement shows the city’s dedication to the aerospace firm, as a healthy Boeing results in a healthy region. “We want them to own the property. It’s easier to walk away from a lease than a property already owned,” he said. “Boeing’s our largest and most important tenant … and we want to make sure they understood our commitment to them is just as strong as their commitment to us.” Securing a company like Boeing has been groundbreaking for North Charleston. The aerospace firm had never built in South Carolina even though many of the company’s military aircraft flew out of North Charleston even day. The move was a generational experience for the area, Summey said, as well as for government officials who worked hard to recruit complementary businesses. To then have the aerospace manufacturer put further faith in South Carolina on Oct. 1 when Boeing announced North Charleston would be the single final

assembly site for the three models of 787 Dreamliners, was even more monumental for the state. The Everett, Wash., plant will still produce the 787-8 and 787-9 for now until production tapers off and transfers to South Carolina in mid-2021. North Charleston has always been the single final assembly line for the largest of the Dreamliners, the 787-10. “The fact of the matter is, it says a lot about our workforce,” Summey said. “If our folks couldn’t build the quality aircraft that they expect, Boeing wouldn’t be coming here. Their commitment to us and to be the exclusive home to the 787 says how much faith they have in the workforce here and the Charleston region.” The consolidation comes as Boeing plans to reduce production of 787-10s from 14 at record sales to six in 2021. As a result, North Charleston isn’t expecting significant hiring or expansion in the near future. The cross-country move, however, is almost certain to bring suppliers. “If you’re building a part exclusive for the 787, which there are several suppliers that do that, you have no reason to stay on the West Coast anymore. And there are some folks I know that are out there that build for 787 that also build for Gulf Stream in Savannah,” Summey

said. “I think anywhere in the South Carolina Lowcountry, from Jasper County to Charleston, you’re going to see the opportunity for suppliers to come in so they can be strategically close to not only the Charleston market but Savannah as well.” With Boeing already taking control of hundreds of additional acres surrounding its facilities, combined with its fee-in-lieu-of-taxes agreement, Summey remains optimistic that the company will purchase the 214 acres of land in time. In a 2010 incentive agreement, Charleston City Council set the property tax assessment rate for Boeing’s $750 million facility at 4% for 30 years. The rate, negotiated as a fee-in-lieu-of-taxes agreement, was lower than the county’s normal industrial property assessment rate of 10.5%. This translated to $188.6 million in tax revenue over 30 years, according to county officials. “It’s a rolling FILO, so anything they invest automatically rolls into the FILO and they get those tax breaks,” Summey said. As part of the agreement allowed by state law, the county promised to return $50 million of those property taxes to Boeing over the first 15 years of the deal. Reach staff writer Teri Errico Griffis at 843-8493144.

www.columbiabusinessreport.com

IN FOCUS: AEROSPACE

November 23 - December 6, 2020

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PEOPLE, PLACES AND HAPPENINGS ACROSS THE MIDLANDS

Economic development officials have applauded aircraft trade and educational programs in some parts of the state, including Trident Technical College and Charleston Southern University, but they said more needs to be done to fuel the aerospace cluster with much-needed workers. (Photo/File)

S.C. helps catalyze fast-growing aerospace cluster By Molly Hulsey

mhulsey@scbiznews.com

t all started with “The Airlift Capital of the World,” Strom Thurmond and the longest airstrip in the state. Now, Lockheed-Martin’s Greenville location serves as the world’s 276-acre, 16-hangar capital for the production of the F-16 Fighting Falcon. The facility directly employs 500 South Carolinians with more to come in the years ahead, according to the aerospace giant. “You know, if we were trying to attract Lockheed Martin 35 years ago with nothing but a dream, we would never have gotten them, but we had that asset that was just strategically acquired by visionary leaders with the city and county of Greenville back in 1964,” said Jody Bryson, CEO and president of the S.C. Technology and Aviation Center, home to the Lockheed Martin facility. Originally, a $7.5 million, 2,000acre U.S. Army Air Force base installed during World War II, built to train

B-25 crews, Donaldson Air Base would evolve to become the Military Air Transport Command used during the 1948 Berlin Airlift and a number of other troop emergencies, according to the Institute for Southern Studies at the University of South Carolina. In 1951, the base was named the Donaldson Air Base after Greenville World War I ace Maj. Donaldson, but was deactivated only 10 years later and sold to the city and county of Greenville for approximately $400,000. The park operated as a municipal airport for about 20 years before Lockheed Martin came a-courting from Ontario, Calif. One would have to ask the original team of Greenville strategists that courted Lockheed Corp. — including Sen. Thurmond, Rep. Carroll Campbell and Lt. Gov. Mike Daniel — during that time whether the Donaldson Airforce base was a hard sell or not, but at the end of the day, the site’s infrastructure and centrality to Greenville’s manufacturing hub won out.

“If you don’t have that airport, that massive airport with the longest runway in the state, all the land, all the existing hangars with room to grow — you know, not competing with commercial air traffic but a general aviation airport — if you didn’t have that asset, you don’t get Lockheed Martin here,” Bryson said. “Lockheed Martin came to Greenville because they have all that infrastructure in place. The city and the county had preserved it, maintained it and so Lockheed was able to come in and set up shop for a reasonable cost without having to put a lot of capital investment into the airport.” Boeing came to dominate the state’s southern aerospace front much later. Vought Aircraft Industries and Global Aeronautica were selected as Boeing’s supply chain partner in North Charleston in 2004, along with a list of companies spanning the globe. In 2009, Boeing purchased the facility near Charleston International Airport to take over that part of the Dreamliner production. Boeing also located a

final assembly line for the 787 in North Charleston, which produced the aircraft along with Boeing’s manufacturing site in Everett, Wash. The 1.2-million-square-foot, fifth-of-a-mile-long building was finished in July 2011 and now has been joined by two additional facilities, the company said, including a paint building. Since that time, the Boeing Co. has accumulated more than 200 business partners in the state with 9,000 direct and indirect jobs linked to the facility. And this is before Boeing shifts its entire 787 production line to South Carolina next year. “I said something somewhat radical about five years ago,” Steve Townes, CEO of Ranger Aerospace, said during his keynote during the S.C. Manufacturing Conference, adding that South Carolina was in a central location in the fastest-growing aerospace cluster in the world — with the added advantage of an international port. “I said in 10 years, I said Charleston Harbor is going to look just like Puget Sound.”

www.columbiabusinessreport.com

November 23 - December 6, 2020

People in the News ARTS AND ENTERTAINMENT The board of trustees for the Columbia Museum of Art has five new members for the 2020–2021 term: Charles L. Aiken, Alicia Barnes, Steven A. McKelvey, Seema Shrivastava-Patel, and C. Philip Toussaint, MD.

Target your market in an upcoming issue of the Columbia Regional Business Report

DECEMBER 7

ARCHITECTURE, ENGINEERING AND CONSTRUCTION (AEC) List: Engineering Companies Advertising Deadline: November 23 DECEMBER 21

BOOK OF LISTS

Advertising Deadline: November 6 JANUARY 18, 2021

2021: THE YEAR AHEAD List: Financial Brokerage Firms Advertising Deadline: January 4 FEBRUARY 1, 2021

ARCHITECTURE, ENGINEERING AND CONSTRUCTION (AEC) List: Architectural Firms Advertising Deadline: January 18

For advertising information, call Lucia Smith at (803) 726-7547

BUSINESS SERVICES New officers of the board of directors at the South Carolina Workers’ Compensation Educational Association are Steven A. Yuhas, president (SY Consulting, Mount Pleasant): Grady L. Beard, vice president (Robinson Gray Stepp & Laffitte, Columbia); Stephanie Pugh, secretary (McAngus Goudelock & Courie, Greenville); and Dewana F. Looper, treasurer (Atkins Law Firm, Columbia).

EDUCATION Forty leaders from throughout the Midlands recently graduated from the Riley Institute’s Diversity Leadership Initiative. The new Riley Fellows are Jon Belsher (president and chief operating officer, UCI Medical Affiliates, Columbia); Shannon Bobertz (chief legal counsel, South Carolina Department of Natural Resources, Columbia); Cynthia Brown (director of licensing, South Carolina Education Lottery, Columbia); Dan Bruinsma (facility personnel manager, Michelin, Lexington); Karen Buffalo (director of early childhood education, Sumter School District, Sumter); Bryant Caldwell (attorney, Womble Bond Dickinson, Columbia); Allen Coles (board chair, Columbia Museum of Art, Columbia); Stephanie DiStasio (director, Office of Personalized Learning, South Carolina Department of Education, Columbia); Casey Fields (manager for municipal advocacy, Municipal Association of South Carolina, Columbia); Amy Flanary-Smith (special counsel, Parker Poe Adams & Bernstein, Columbia); Eddie Goff (asset protection manager, Michelin, Lexington); Iris Griffin (vice president, financial management and integration, Dominion Energy, Cayce); Chris Hardy (president and chief executive officer, Greater Sumter Chamber of Commerce, Sumter); Dominique Hardy (training and development manager, BlueCross BlueShield of South Carolina, Columbia); Lin Hearne (director, human resources operations, Prisma Health, Columbia); Amy Holbert (chief executive director, Family Connection of South Carolina, Columbia); Janice Holmes (senior counsel, Clyde & Co., Lexington); Rhonda Hunsinger (execu-

tive director, South Carolina Philharmonic, Columbia); Gavin Jackson (reporter, SCETV, Columbia); Debbie Jones (executive director, South Carolina Future Minds, Florence); Jim Lehman (managing partner, Nelson Mullins Riley & Scarborough, Columbia; Yolanda Lewis (director of human resources, South Carolina Research Authority, Columbia); Forest Mahan (president, Aiken Technical College, Aiken); Scott McClelland (shareholder, Elliott Davis, Columbia); Gregory McCord (superintendent, Marlboro County School District, Bennettsville); Rusty Monhollon (president and executive director, South Carolina Commission on Higher Education, Columbia); Jeff Perez (president and CEO, South Carolina Independent Colleges and Universities, Columbia); David Platts (executive director, South Carolina Arts Commission, Columbia); Davida Price (coordinator of youth and family services; chair, Lexington Richland School District 5; Richland County First Steps, Little Mountain); Sheila Quinn (superintendent, Clover School District Two of York County, Clover); Sharon Ray (audit manager; board member, Moore Beauston Woodham; Goodwill Industries of the Upstate/Midlands, West Columbia); Meg Porter Stanley (executive director, Eat Smart, Move More South Carolina, Columbia); Jason Stapleton (mayor, Town of Williston, Williston); Jim Stritzinger (president and CEO, Revolution D, Columbia); John Tynan (executive director, Conservation Voters of South Carolina, Columbia); Kelvin Washington (police chief, City of Darlington, Darlington; Charles Williams (president and CEO, Regional Medical Center of Orangeburg and Calhoun Counties, Orangeburg); Marguerite Willis (attorney, Nexsen Pruet, Columbia); Roscoe Wilson (owner and CEO, The R.C. Wilson Group, Hopkins); and Mike Young (co-interim executive director/director of capacity building, PASOs, Columbia). Jesica Johnson Mackey, senior project advisor at NP Strategy, and Jasmine Smith, an attorney with Robinson Gray, have been selected to participate in the Riley Institute’s Diversity Leaders Initiative. Mackey works with government agencies, non-profits, and pubSmith lic-sector companies. Smith’s practice deals with commercial litigation, professional liability and ethics, probate and estate litigation, and appellate advocacy, focusing on family law.

Submit items using our online submission portal: www.SodaCityBizWire.com. Publication is subject to editorial discretion.

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VIEWS, PERSPECTIVES AND READERS’ LETTERS

Labor market improving faster than anyone expected

ith every passing week, the pace of economic activity remains robust.While logic suggests that the economy should sputter as fiscal stimulus abates, the incoming data suggest otherwise. The labor market and the housing market, in particular, are on a roll. Following an impressive rebound SLIFER in economic activity in the third quarter, we believe that GDP will continue to climb at a 10% growth rate in the fourth quarter. American consumers and businesspeople are proving to be amazingly resilient in the face of adversity. The October employment report shows that the economy remains on a roll as the fourth quarter gets underway. We believe that payroll employment will climb by a solid 1 million workers and the unemployment rate will decline 0.8% to 7.1%. The consensus appears to be for an increase of about 600,000 and no change in the 7.9% unemployment rate. Those estimates appear to be way off the mark. The weekly data on initial unemployment claims and the number of people receiving unemployment benefits point to continued strength in the labor market. Part of the employment story every month is layoffs — how many people lost their jobs. The weekly claims data continue to decline. In the past four weeks initial claims have fallen on average by 20,000 per week, and during a recent week, the number dipped below the 800,000 mark for the first time since March. Prior to the recession, claims were averaging about 225,000 thousand per week. People continue to lose their jobs, and the labor market cannot be deemed healthy until they have fallen to their pre-recession level. We have a ways to go. But there is more to the story. While some workers lose their jobs, many more are being hired. If 800,000 workers lose their job in any given week but the number of people receiving unemployment benefits declines, then employment rose dramatically. The number of people receiving unemployment benefits peaked at 25 million in early May. In the most recent week it was 8.4 million. In the past four weeks it has declined on average by 1.1 million per week. Prior to the recession, this series was fairly steady at 1.7 million. There are

Photo/File

11 weeks to go. Could the benefits data hit the pre-recession 1.7 million mark by the end of this year? Probably not, but it might be close. The same conclusion can be reached by looking at the insured rate of unemployment. It is the number of people who are receiving unemployment benefits as a percent of the labor force. It is not a completely accurate barometer of what is going to happen to the unemployment rate. People can be unemployed and looking for work, but not receive unemployment benefits. Those people will be counted in the official unemployment rate, but not in the insured unemployment rate. Nevertheless, the two series behave similarly. This series peaked at 17.1% in early May and has fallen steadily to 5.7% in the most recent week. Indeed, in the past four weeks, this series has declined 0.7% per week. Prior to the recession this series stood at 1.2%. It, too, could hit its pre-recession level by yearend. We expect the employment rate for October to decline 0.8% from 7.9% to 7.1%. But the data suggests that an unemployment rate somewhere in the 6% range is not out of the question for October. The labor market continues to improve faster than anyone expected. So how does all this impact our esti-

mate of fourth quarter GDP growth? It boosts it from 7% to 10%. Most economists expect fourth quarter growth to be 2% to 3%. We disagree. Consider the following: First, if payroll employment rises by 1 million workers in October and the weekly data continue to decline in mid-October, it is hard to imagine that employment will come to a screeching halt in November or December. People have been expecting that to the happen for months, but there is still no sign of softening in the labor market. Second, if employment rises and the unemployment rate falls, consumer income will continue to climb, which will provide the fuel for consumers to keep spending in the fourth quarter. Third, consider the housing market. It is on fire. Existing home sales jumped 9.4% in September to a 6.5 million pace, which is the fastest since 2006. Furthermore, there was just under a three-month supply of homes available for sale. That is less than half of the six-month supply that realtors believe is the point at which demand and supply are in balance. If more homes were available for sale, existing home sales would easily exceed 7 million. The average home remained on the market for 21 days in September — the short-

est time from listing to sale ever. Why is all this happening? Clearly, a record low 2.9% mortgage rate is enticing to every potential buyer. Furthermore, with the ability to work from home, sales in summer resort locations like Lake Tahoe, the mid-Atlantic beaches and the Jersey Shore are booming. Do we seriously believe that this extraordinary demand for housing is going to abate in the fourth quarter? While common sense suggests that the labor market and GDP growth should soon slow, recent data suggest that the economy is far more robust than even the optimists expected. American consumers and businesspeople are proving, once again, to be remarkably resilient in the face of adversity. The 1917-1918 pandemic was followed by the “Roaring Twenties.” Could it happen again? Stephen D. Slifer is a Daniel Island economist and former Lehman Brothers analyst. Reach him at steve@numbernomics.com.

We want to hear from you Write: Melinda Waldrop, Editor Columbia Regional Business Report, 1612 Marion St., Suite 301 Columbia, SC 29201 Email: mwaldrop@scbiznews.com

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November 23 - December 6, 2020

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