Issuu

VOLUME 25 NUMBER 3 ■ GSABUSINESS.COM

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FEBRUARY 21 - MARCH 6, 2022 ■ $2.25

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Program helps SC companies meet DOD cyber requirements

New state park

State park operators add to destination inventory. Page 7

By Ross Norton

A Life on the river

Developers move on plans to bring housing to Saluda mill site. Page 11

Abbeville Community Development Director Austin Walker (right) accepts the Charles A. Bundy Award for the Abbeville Opera House from Gov. Henry McMaster and Duane Parrish. See related story, Page 8. (Photo/Molly Hulsey)

Tourism gains ground from 2020 losses

Export leaders

Palmetto State leads the nation in two export categories. Page 5

Pizza champions Google identifies the top pizza joints in South Carolina. Page 10

INSIDE

Leading Off........................... 2 SC Biz News Briefs................. 3 C-Suite................................. 4 In Focus: Banking and Finance.............................. 13 LIST: Banks......................... 16 At Work.............................. 20 Viewpoint............................23

By Teri Errico Griffis & Molly Hulsey

tgriffis@scbiznews.com mhulsey@scbiznews.com

outh Carolina visitors haven’t changed, but what they’re searching for in a vacation has changed since the pandemic started. Outdoor recreation is essential for the leisure traveler, and they’re looking to the South with year-round activities, said Duane Parrish, director of S.C. Parks, Recreation and Tourism. Since state parks were reopened in May 2020, travelers have visited in record numbers. State park revenue for 2021 increased 47% from last year and 73.7% over 2019. Campground occupancy increased 17.1% year-over-year while cabin occupancy was up 17.5% from 2020, according to the PRT. “When people come and travel to state parks … they’re not just going to state parks, they’re going out into the local communities. They’re buying gas at the convenience stores. They’re going to the grocery store. They’re going to cultural events and seeking out

opportunities in the region that they’re in,” said Joy Raintree, regional chief of the S.C. State Park Service’s Sandhill Region. Raintree is heading up efforts with Open Space Institute and Nature Conservancy to design one of five new South Carolina parks: the Black River State Park, a 70-mile water trail across Williamsburg and Georgetown counties. S.C. Parks plans to open access points along the river later this year. Additional properties under development include tracts acquired by the state in a settlement with Dominion Energy. There are 27 acres at Pine Island on Lake Murray, 190 acres at North Augusta’s Misty Lake and 2,600 acres at the former Ramsey Grove Plantation along the Black River. “That’s where we’ve benefited as a state,” Parrish said. “You think about all the lakes and rivers we have, beaches, boating, fishing. State parks, Congaree National Park. Hiking is a big thing with Palmetto Trail running through the state, and camping and golf. … So we’re sitting well; we’re in a good position for 2022 as well.” See TOURISM, Page 6

In Focus: PPP in the rearview mirror

Some borrowers at odds with lenders over loan forgiveness. Page 13

rnorton@scbiznews.com

dam Haldeman was getting frustrated. The vice president of research and development for Pendleton’s Tetramer Technologies felt mired in a web of expectations from the Department of Defense. A requirement to meet cyber security compliance has been part of DOD contracts since 2015, Haldeman said, but few in the department’s supply chain actually complied at first. In time, however, DOD pressure has increased, and those companies wanting to continue or become part of the Defense Department’s supply chain are expected to meet Level 2 compliance requirements when controlled unclassified information is part of the mix. For companies such as Tetramer, Level 2, or advanced level compliance, means meeting 110 practices to ensure that controlled unclassified information is safe. Haldeman said he understands the need for cyber security, but the process of reaching compliance was daunting for the businesses trying to get there. Besides, in a small business, people like him have other work to do. Tetramer is an advanced materials company with a lot of projects underway, including a special glue that could reduce the cost of certain fighter jet repairs from hundreds of thousands of dollars to hundreds of dollars by making field repairs possible. The customer for that one is the Defense Department. “Many of the (cyber security) requirements are interconnected,” Haldeman said. “It’s a whole web. It’s a mess. For any company that is not an IT company, it’s difficult and it’s expensive. … I was trying to do it, and the solutions See CYBER, Page 10

Leading Off

BRIEFS | FACTS | STATEWIDE NEWS | C-SUITE

Doesn’t take much snow to slow us down

or many places in the U.S., winter is a time to cozy up by the fire with blankets and wool socks, sipping hot cocoa as you blissfully stare out the window at the soft white snow blanketing the ground. That is unless you live in most places in South Carolina. If we even get a hint that it might snow, grocery store shelves clear and business grinds to a halt faster than you can say “hurricane season.” Snow accumulation numbers don’t always tell the story. While the recent snowfall measurement came in around 5 inches in Greenville, for example, residents in the hills around Pickens were measuring as much as 17. As the winter Olympics recently wrapped up in Beijing and as the fairly significant snowfall in the Upstate becomes little more than a distant memory, it’s no wonder we wistfully stared at Facebook and Instagram photos, remembering the great blizzard of 2018 — at least by Southern standards. Let’s take a look back at all the great snowfalls throughout the state, dating back to the 19th century. On Jan. 18, 1893, the first snowfall recorded in South Carolina brought a whopping 1.9 inches of powder. In the Upstate, 15 inches of snow have been recorded officially three times: Nov. 15, 1968, at Ceaser’s Head; Jan. 7, 1988, at Long Creek in Oconee County; and Feb 15, 1902 at an unspecified spot in the Greenville-Spartanburg area.

Upstate’s other ‘biggest’ snowstorms Date

Measurement

Dec. 3, 1971

11.4”

Dec. 29, 1935

11”

Dec. 2, 1896

10.5”

A LA CARTE

Caitlin Steelman, chief financial officer of Graycliff Capital Partners in Greenville, was recognized as 2021 Senior Financial

Yes, it does snow in SC

Executive of the Year by the Upstate CFO

Charleston has a record 6 inches of snow, but see what the rest of the sate counts as its snowiest accumulation in history, per the State Climatology Office.

owner in the multi-family sector.

Council. Graycliff Capital is a developer/

County

Location

Snowfall

Date

*National Weather Service

Greenville

Caesars Head

15.0”

Nov. 12, 1968

The Blizzard of 1973

Newberry

15.0”

Dec. 28, 1935

Oconee

Long Creek

15.0”

Jan. 7, 1988

Spartanburg

Landrum

14.2”

Mar. 2, 1942

Pickens

Clemson University

14.1”

Dec. 17, 1930

Blue Eye Soft founder and CEO Srikanth

York

Catawba

13.5”

Feb. 27, 2004

Kodeboyina, in collaboration with the

Cherokee

Gaston Shoals

13.0”

Dec. 17, 1930

University of Dayton Research Institute,

Richland

USC Columbia

12.5”

Feb. 10, 1973

helped develop BlueDocAI TM, a clinical

Anderson

Pelzer

12.0”

Dec. 17, 1930

decision support tool that uses AI and

Chesterfield

Pageland

12.0”

Jan. 25, 2000

The weekend of Feb. 10-11, 1973, brought the biggest snowstorms in the state’s history, including a record two feet in Clarendon County. Here’s what fell across the Palmetto State in those 48 hours. County

Location

Attacks

Clarendon

Rimini

24”

Bamberg

19.0”

Darlington

18.0”

Barnwell

Blackville 3W

17.0”

Aiken

Aiken 4SE

15.0”

Dorchester

Summerville

15.0”

Marion

15.0”

Marlboro

McColl

15.0”

Florence

13.0”

Lexington

Columbia Metro

12.3”

Fairfield

Winnsboro

12.0”

algorithms to analyze chest X-rays for faster detection of COVID-19 and other lung illnesses.

*South Carolina State Climatology Office

ON THE

RECORD

““We were so excited to have our tourism partners from across the state get to spend quality time in Greenville and see Greenville through our eyes as we see it every single day,”

DP3 Architects has partnered with

— Cheryl Lang, CEO and president of VisitGreenvilleSC

project was named in honor of U.S. Army

Upstate Warrior Solution to design their new Rupert Huse Veteran Resource Center, a hub for veteran services. The veteran Rupert Huse.

WEBSITE: www.GSABusiness.com

@GSABusiness

facebook.com/GSABusiness

February 21 - March 6, 2022

www.gsabusiness.com 3

SC Biz News Briefs Target your market in an upcoming issue of the GSA Business Report

MARCH 7 Rock the Block is coming to Nexton, the Master Planned Community in Berkeley County. (Photo/HGTV)

CHARLESTON

Teri Errico Griffis, Charleston Regional Business Journal

TV series to feature Berkeley County site If you’re still worried about getting out in the community with germs and frigid weather all around, HGTV and Discovery+ has a neighborhood fix you can indulge in from your couch. On Feb. 28, the channels will begin airing season three of its Rock the Block series, featuring Berkeley County’s Nexton community. The home renovation competition series led by design expert Ty Pennington, formerly of Extreme Home Makeover, will feature homes built by Hunter Quinn Homes. The six-week show will air at 9 p.m. on Mondays and will bring on a slew of stars like former New Kids on the Block member Jonathan Knight, builder and designer Jasmine Roth of Help! I Wrecked My House and Alison Victoria of Windy City Rehab, among others. “Nexton caught the attention of the show’s production team after it was named the No. 1 Master Planned Community of the Year by the National Association of Home Builders, and we are fortunate to have been selected after their nationwide search,” Cassie Catline, director of marketing for Nexton, said in a statement.

COLUMBIA

Staff Report, Columbia Regional Business Report

Wine festival planned in the Midlands The 2022 Columbia Food and Wine Festival will be held March 30-April 3, spanning venues from Elgin to Lexington. The event will kick off Wednesday, March 30 with dinner at Ratio, located at 566 Spears Creek Church Road in Elgin. Other events include a March 30 Mixer on Main at the Columbia Museum of Art’s Boyd Plaza and Dinner on the Green that Friday, April 1, at the Boyd Foundation Horticultural Center at 1615 Blanding St. in Columbia. Several events Saturday, April 2, include a kids’ cooking class at EdVenture Children’s Museum, Sushi & Sake at 530 Lady St. with chefs from Miyo’s preparing Asian cuisine, the Flights & Bites brewery bus tour that begins at Steel Hands Brewing, and a Lexington walking tour of Main Street beginning at Icehouse Pavilion. The festival wraps up Sunday at the Robert Mills House at 1616 Blanding St. Tickets to the festival, presented by Certified South Carolina, are available online at columbiafoodandwinefestival.com. Safety precautions will include tents spaced six feet apart and disposable masks and hand sanitizer, and guests are encouraged to wear face coverings.

REAL ESTATE AND CONSTRUCTION

List: Heating & Air Contractors Bonus List: Solar Companies Advertising Deadline: February 21 MARCH 28

BOOK OF LISTS

Advertising Deadline: March 7 APRIL 4

MANUFACTURING AND AUTOMOTIVE

List: Law Firms Bonus List: Business Communications Companies Advertising Deadline: March 21 APRIL 18

ARCHITECTURE, ENGINEERING AND CONSTRUCTION (AEC) List: Landscape Architecture Firms Advertising Deadline: April 4

KEISHA SMITH

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.

Owner, The Business Office

PAGE 4 VOLUME 15 NUMBER 2 ■ COLUMBIABUSINESSREPORT.COM

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FEBRUARY 14-FEBRUARY 27, 2022 ■ $2.25

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VOLUME 28 NUMBER 3 ■ CHARLESTONBUSINESS.COM

Part of the

FEBRUARY 21-MARCH 6, 2022 ■ $2.25

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Tourism gains ground from 2020 losses

Economic target

Grammy winners to play 40th St. Pat’s festival. Page 4

College professor traces local bank’s roots to the civil rights movement. Page 15

City salespeople

Say cheese

By Teri Errico Griffis & Molly Hulsey

S Experience Columbia names new class of ambassadors. Page 7

Google names the best pizzerias in South Carolina with maps, reviews. Page 9

SEEKING SANCTUARY

Card convenience Initiative aims to simplify farmers’ purchases. Page 9

The redevelopment project transforming the former Rosewood Church is on pace to welcome residents to its luxury apartments later this year. (Photo/Melinda Waldrop)

Future investment Governor allocates millions for workforce scholarships. Page 11

INSIDE

Upfront ................................ 2 SC Biz News Briefs ................ 3 In Focus: Architecture, Engineering and Construction .......................................... 13 List: Engineering Firms ...... 16 At Work .............................. 21 Viewpoint ...........................23

Transformation of church into luxury apartments nearing completion By Melinda Waldrop

mwaldrop@scbiznews.com

ost churchgoing children of a certain age no doubt once sat in Sunday school class, hands laced together, index fingers pointed skyward and thumbs touching, while reciting: “Here’s the church and here’s the steeple. Open the doors and there’s the people.” That child’s game is more or less the challenge faced in an ambitious collaboration between Garvin Design Group, Cason Development Group and Boyer Construction that is transforming a central section of Columbia’s Rosewood neighborhood.

The Columbia-based architecture firm, real estate development group and contractor are renovating the former Rosewood Church into a mix of 52 apartments, retail property and a restaurant spanning more than 57,000 square feet on Rosewood Drive in the heart of the downtown enclave. Scott Garvin, president of Garvin Design Group, has fielded many phone calls from Frank Cason, president of Cason Development Group. When his phone rang around a year ago, Garvin listened to a proposal that struck him as “radical” but also “a really cool idea,” he said. “It’s a trend around the country, especially in bigger cities or metropolitan areas where some of these older churches that have

been around for a while have not transitioned to the new demographic. We’re seeing more and more of these big, empty churches that can’t afford their real estate.” Rosewood Church, which had occupied 2901 Rosewood Drive home since 1937, put the property up for sale in 2019. Soon after, the site landed on Cason’s radar. “We had a local broker call about two years ago now,” Cason said. “He said, ‘Hey, this old Rosewood Baptist Church property is coming available. Would you be interested?’ I pulled it up on Google Earth and was like ‘Yes. When can we go? Can we go tomorrow?’ … I don’t See CHURCH, Page 14

Family affair

The Strudel Shop joins businesses in Columbia’s Main Street district. Page 5

ColumbiaBusinessReport.com

$29.7B in exports Overall exports are down 2%, but South Carolina leads in two sectors. Page 5

HGTV heads to SC

A popular home renovation show spends six weeks in Berkeley County. Page 12

Spinx Co.’s high octane model By adjusting, adapting and knowing what consumers want, Stewart Spinks became one of the state’s largest private employers with an ever-evolving product built, reimagined and refined over the last 50 years. Page 10

For advertising information, call Rick Jenkins at (864) 720-1224

Developers, property owners oppose infrastructure fees

INSIDE

By Jenny Peterson

Upfront ................................ 2 SC Biz News Briefs ................ 3 Small Business Spotlight ....... 4 In Focus: Banking and Finance ......... 13 List: Banks ......................... 17 At Work .............................. 19 Viewpoint ...........................23

tgriffis@scbiznews.com mhulsey@scbiznews.com

Contributing Writer

t a special meeting Feb. 8, Charleston City council members heard from Johns Island property owners and developers opposed a newly-passed plan that put Johns Island into a special district that imposes fees on new large-scale residential and commercial construction to fund road and drainage improvements. The meeting took place at the Berkeley Electric Cooperative on Main Road.

Under the Municipal Improvement District, new development on two acres or more within city-owned property on Johns Island will be assessed a fee of $480 per apartment or single-family home every year for 30 years. Commercial space will be assessed a fee of $480 per 1,800 square feet every year for 30 years. The fee increases by 2% each year, resulting in approximately $19,000 per unit over the 30-year lifespan, according to city staff. The city expects to generate around $60 million to pay for infrastructure improve-

ments like roads and drainage along with parks and recreational facilities. The fee will be assessed on any new development or existing development that has not yet received a certificate of construction completion. There are approximately 3,500 new residential units already approved to be constructed and 500 more units are proposed on Johns Island, according to the city. Affordable housing projects, owner-occupied projects and projects by nonprofits or churches will not be assessed the fee. See JOHNS ISLAND, Page 8

Access to capital

JP Morgan Chase & Co. partners with South Carolina’s only minority-owned bank to expand the branch’s reach and access to capital. Page 13

CharlestonBusiness.com

SCBIZmag.com

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February 21 - March 6, 2022

UPSTATE NEWSROOM Editor - Ross Norton rnorton@scbiznews.com • 864.720.1222

WHAT IS YOUR ROLE?

Staff Writer - Molly Hulsey mhulsey@scbiznews.com • 864.720.1223

My role is to be the coach for our company; to elevate the experiences of our associates,

Associate Editor, Custom Publishing Division Jim Tatum jtatum@scbiznews.com • 864.720.2269

guests and communities.

MIDLANDS NEWSROOM

WHAT DOES YOUR COMPANY DO?

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

We own, develop, and operate hotels under

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the franchise affiliation of leading brands

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a privately held company with 6,500 rooms.

(Marriott, Hyatt, Hilton) for the last 47 years, as

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Photo Provided

Research Specialist - Paige Wills pwills@scbiznews.com • 843.849.3125

A View From The C-Suite

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DJ Rama, President and CEO | Auro Hotels

UPSTATE ACCOUNT EXECUTIVES

THE BEST ADVICE I’VE EVER RECEIVED

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Treat humanity as you would like to be

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WHAT’S THE BEST ADVICE YOU COULD GIVE? Find your purpose in life and start living

WHAT IS THE STIFFEST CHALLENGE FACING YOUR INDUSTRY RIGHT NOW? Post pandemic hospitality is struggling to attract talent back to our industry. Also, igniting business transient travel and large meetings/conferences returning to our hotels.

LITTLE KNOWN FACT ABOUT YOUR COMPANY My grandfather was a farmer in India harvesting mangoes, sugar cane and rice. Today we harvest mangoes on the same farmland.

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My first job was as a banquet set up attendant at the Sheraton Hotel on Augusta Road in

own happiness.

Greenville.

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State leads nation in 2 export categories By Melinda Waldrop

mwaldrop@scbiznews.com

outh Carolina’s 2021 export sales totaled $29.7 billion as the state led the nation in exports of tires and completed passenger motor vehicles. The South Carolina Department of Commerce’s 2021 International Trade Report, released Feb. 14, found that the Palmetto State has 36.6% of the country’s market share of exported tires and 19.4% of its market share of exported passenger vehicles. According to the report, S.C.’s total exports dropped 2% in 2021 from 2020’s total of $30.3 billion. The state’s export record was set in 2019 at $41.5 billion. “International trade plays an incredibly important role in sustained economic prosperity, and South Carolina consistently demonstrates our ability to move products around the world,” Harry Lightsey, S.C. Secretary of Commerce, said in the report. “As industries transform, we are poised to prioritize our support, promoting resources to best equip companies in maximizing their reach overseas.” Vehicles and parts led the state’s exports at around $13 billion, followed

South Carolina exported $29.7 billion in goods in 2021 and led the nation in exports of tires and completed passenger motor vehicles, according to the state commerce department. (Photo/SCPA, English Purcell)

by nuclear reactors and related parts at around $3 billion. Rubber exports ranked third at around $2 billion, followed by plastics and machinery. “South Carolina’s economy continues to grow, and the news that the state remains the national leader in the export sales of tires and passenger vehicles is a

testament to our international connectivity,” S.C. Gov. Henry McMaster said. “Looking to the future, South Carolina will continue to work hard to ensure that our state remains a globally competitive place to do business.” South Carolina’s two largest export partners in 2021 were China and Ger-

many, with each nation receiving $4.6 billion, or 15.5%, of the state’s products. Canada was third at $3.8 billion (12.8%), Mexico fourth at $2.1 billion (7.1%), and Belgium fifth at $1.5 billion (5.1%). “As a top-10 U.S. container port, South Carolina Ports serves as a vital economic engine for the state,” S.C. Ports President and CEO Jim Newsome said. “Big retailers, South Carolina farmers, advanced manufacturers and many other industries depend on our efficient operations to keep freight moving.” Newsome added that as consumers continue purchase record abouts of goods throughout the pandemic, particularly home goods and furniture, the global supply chain continues to see unprecedented strain. “South Carolina Ports has invested more than $2 billion in port infrastructure in recent years to ensure we remain globally competitive,” Newsome said. “These significant investments have attracted world-class companies to South Carolina. Alongside our partners, South Carolina Ports will endeavor to build on our momentum, creating lasting benefits for South Carolina.” CRBJ

Reach Melinda Waldrop at 803-726-7542.

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February 21 - March 6, 2022

Visitors to the 3,000-acre Table Rock State Park in Pickens can enjoy cabins, a campground and hiking trails and two lakes. (Photo/Provided)

TOURISM, from Page 1

Drive markets and market drivers

“In the beginning of the pandemic, we were down to just the drive market, because, if you remember, the airlines were down 95% at one time,” Parrish said. “So you look back at 2020, our portion of air traffic was almost non-existent after the pandemic started. That came back strong in 2021, but more toward the latter half of the year.” For 2021, S.C. Department of Parks, Recreation and Tourism reported a 32.8% increase in statewide hotel occupancy compared to 2020, and a decrease of 5.3% compared to 2019 — a record year for state tourism. Hotel revenue per available room was 4% higher than 2019 and 75% higher than 2020. “These metrics tell a great story of South Carolina’s tourism recovery in 2021,” Parrish said. “They tell us that we have regained much of the economic ground that was lost in the first year of the pandemic, but they also tell us that we still have work to do. They tell us that we all must continue our efforts to achieve a full economic recovery to make our state’s tourism industry whole again.” In the first six months of 2021, South

Carolina recovered quicker than nearby states, with greater gains in hotel occupancy compared to North Carolina, Georgia and Florida. Parrish attributed the success to several factors, including to a $20 million investment from the state to support SCPRT marketing that drove nearly $1 billion in hotel revenue, the agency said. Additionally, Parrish gave credit to South Carolina’s travel experiences, the state’s ability to adapt to the ever-changing pandemic environment and marketing efforts. Some market segments did better than others, particularly golf. Rounds of golf are since up 14% over 2020, and the metrics are some of the highest levels seen in a decade. Plus, golfers also spend more on travel than the average tourist, Parrish said. Domestic travel primarily propelled the tourism industry as individuals had money to burn since they did not travel, dine out, drive to work or attend events in 2020, Parrish said. “They had a lot of discretionary cash to go spend on a vacation,” he said. “But that runs out at some point. So I don’t anticipate 2022 to be as strong as a domestic leisure side as it was in summer 2021.” Looking ahead, Parrish hopes interna-

“All that to say, 2021 was a phenomenal year compared to what I thought it would be. It may not be quite what it was in 2019, but it depends on the segment of the industry.” Duane Parrish director, S.C. Department of Parks, Recreation and Tourism

tional travel will kick back up this fall with Gov. Henry McMaster’s recommended $50 million for the Parks, Recreation and Tourism department. The proposal still has to go through the necessary channels and get a final approval. Until then, Parrish doesn’t know how much PRT will receive, but he has plans for any extra money. Part of the money would fund the five new state parks and some funds will be used

as seed money for beach nourishment. A major goal, however, would be to market for international travel. President Joe Biden opened the borders for vaccinated international travelers on Nov. 8, but with COVID19’s omicron variant, some have still been hesitant. “I do think at some point this year in 2022 the international traveler is going to start coming back. That’s a big part because they spend money and stay longer. … We need to get them back,” Parrish said. Since the state doesn’t have nearly the funds of California or Florida, South Carolina pools its money with North Carolina and others in the Southeast to market the region as a whole. He thinks the influx of travel will happen sooner than later as Europeans share the same desire to get out and see the world again. “All that to say, 2021 was a phenomenal year compared to what I thought it would be,” Parrish said. “It may not be quite what it was in 2019, but it depends on the segment of the industry.” Reach Teri Errico Griffis at 843-849-3144. Reach Molly Hulsey at 864-720-1222 or @mollyhulsey_gsa on Twitter.

February 21 - March 6, 2022

www.gsabusiness.com 7

Plans underway for first SC park in 20 years By Molly Hulsey

mhulsey@scbiznews.com

n most state parks, trails may follow the path of a river and even cross it a few times, but at South Carolina’s newest park, a tannin-dyed river is the trail itself. The Black River Park is a 70-mile network of riverfront property spanning across Williamsburg and Georgetown counties. Unlike any of the state’s 47 other parks, the property’s primary trail is a river linking pockets of access points and protected land, such as Kingstree’s Black River Landing and Georgetown’s Rocky Point Community Forest. Once access points are opened to the public — some later this year according to park officials — the network of locations will share a common brand to help paddlers access and navigate the river and maybe one day make use of primitive campgrounds, picnic shelters and hiking trails along the river. The S.C. Department of Parks, Recreation and Tourism is concluding its master planning process for the first phase of park development, according to the agency. “The Black River is located exclusively within the borders of our state, giving

South Carolina communities and entities the unique opportunity to work together to protect it,” S.C. State Parks Director Paul McCormack said in a news release. “Community partners and conservation nonprofits have really been the catalyst for this project, and State Parks is excited to play a supporting role in this historic endeavor.” In February 2021, S.C. State Parks accepted the donation of the 310-acre “Hinds Canada” property from the Open Space Institute through financial assistance from The Nature Conservancy and the S.C. Conservation Bank. Other planning partners for the park include the Black River Cypress Preserve, the Black Scenic River Advisory Council, the Butler Conservation Fund, Ducks Unlimited, Georgetown County, town of Andrews, town of Kingstree, Waccamaw Regional Council of Governments, Williamsburg County and Winyah River Alliance. Earth Design is serving as consultant on the master plan. The Black River provides drinking water for thousands, while its forests and vegetation create a critical floodplain to protect surrounding businesses and homes from flooding, the news release said. It has served as a local favorite fish-

ing hole for generations of anglers. Organizers are hoping to expand and enhance these core roles that the Black River plays in the local community as the master plan develops, according to the release. “For generations to come, the property donated to the state by the Open Space Institute will welcome South Carolinians as they experience the beauty and wonder of the Black River,” Open Space Institute Senior Project Director, Maria Whitehead, said in the release. The Open Space Institute is proud to have played a

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role in the creation of this historic state park, and prouder yet to be part of the larger team of government agencies, community stakeholders, and neighbors who are joining forces to reimagine the Black River and its potential to provide increased recreational opportunities for residents, safeguard against the costs and dangers of flooding, and serve as a local economic draw.” Reach Molly Hulsey at 864-720-1222 or @mollyhulsey_gsa on Twitter.

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February 21 - March 6, 2022

Conference considers state workforce, infrastructure solutions By Molly Hulsey

mhulsey@scbiznews.com

ov. Henry McMaster regaled the crowd at Greenville’s Hyatt Regency ballroom: several hundred hailing from Abbeville to York for an event most called “GovCon 2022.” “We were up in Washington to have the national governor’s association, and the Republican Governors Association were meeting up there,” he told the audience. “We went to the White House, and we were in a room about this big, having a round table discussion.” President Joe Biden had called on each of the 32 governors who circled the conference room for the meeting until, according to McMaster, the president exclaimed, “’Now, we’ll hear from the governor of the great state of South Carolina, Henry Master – tell me about Myrtle Beach!” Cheers erupted across the Hyatt ballroom, peaking to a roar from a table one could assume to be the Myrtle Beach delegation. “By that time outside, I think it was something like 20 degrees and the weatherman said it felt like 10,” McMaster continued. “So of course, I said, ‘I wish I were there right now.’ And about half the room said, ‘Me too!’” The story didn’t fall on deaf ears. Many of the visitors at the S.C. Annual Governor’s Conference on Tourism and Travel from Feb. 7-9 were from out-of-state and were taking notes, according to Bill Miles, president and CEO of the Hilton Head Island-Bluffton Chamber of Commerce. Miles since has witnessed the same trend on the island with remote workers. Even as tourism languished across the country, they came in droves to the island, and he believes they may be here to stay. “We see the demand for the next six months outpacing where the demand was in 2019,” he told GSA Business Report. “Real estate sales have been really, really strong.” Home to the RBC Heritage Golf Tournament and numerous other courses, Hilton Head especially benefitted from the Palmetto State’s 27% increase in golf rounds and spike in outdoor recreation since 2019. “It’s been really encouraging to see the rebound of tourism and to be able to have these tourism professionals come together and be able to see the results of the hard work that’s taken place during the pandemic to be able to generate the numbers that have come in,” Miles said.

The bottom’s fallen out

During Duane Parrish’s “state of tourism” keynote on Feb. 7, the S.C. Parks, Recreation and Tourism director reiterated that South Carolina’s ability to cater to

Duane Parrish takes a photo of the crowd during his “state of tourism” update at the S.C. Annual Governor’s Conference on Tourism and Travel. (Photo/Molly Hulsey)

new trends in tourism helped the industry recover faster than in neighboring states. “In addition to golfing and fishing, South Carolina destinations scored a significant win in the overall recruitment of sports events,” Parrish said. Last financial year set records for the department’s Start Grant program, which seeded 17 recruited events. “Our destinations have been able to pick up several sports events from other states where COVID restrictions were more severe,” he told the crowd. “We made sure the message is loud and clear: South Carolina is open. Along with sports, last year also saw the return of many of our state’s major festivals and cultural events. New challenges lie ahead, he said, to keep up the pace. Even before the COVID-19 pandemic, the state’s tourism sector struggled with workforce retainment and development. “For a long time, it’s been a slow leak, a problem we’ve worked through, around and powered on,” he said during the keynote. “But with this pandemic and the great resignation that we face today, the bottom has fallen out.” The department contracted the firm Destination Analysts to conduct a study on the perceptions of South Carolinians on working in the hospitality industry to better understand why so many left the industry behind. Erin Francis-Cummings, president and CEO of the firm, shared study results at the conference Feb. 9. Parrish also previewed plans to launch a workforce development and train-

ing initiative with the S.C. Restaurant and Lodging Association in the coming months.

Paving the way for visitors

“Bob Dylan sang a song that said, ‘if you can’t bring good news, don’t bring any,” McMaster said during his closing speech. “And it so happens, all I got is good news.” He reiterated that South Carolina’s “lightest touch” approach toward pandemic restrictions aid the tourism and hospitality industry, while bolstering the economy to a 2.9% unemployment rate since December. “We got a lot of jobs out there looking for people. That’s better than people looking for jobs,” said the governor, adding that last year he put $29 million into a technical college scholarship program for students pursuing high-demand careers. As the S.C. State House decides how to balance a $3 billion surplus in the state budget this year, McMaster hopes they will consider allocating $124 million to the scholarship program again, as well as $26 billion toward road improvements, $300 million for the S.C. Ports Authority deepening project, $500 million toward water and sewer projects and $300 million into the Office of Resilience for protecting beaches and other natural resources. “Why am I telling you all this?” he asked the crowd. “What’s this got to do with you? Everything. If we can’t get the people in and out safely and quickly and accommodate them well and treat them well, they won’t come here. My approach

is the three parts to our success is education, the environment and the economy, but they’re all part of the same thing. We don’t balance one against the other.”

And the Oscar goes to…

McMaster and Parrish presented awards at the end of the conference to three tourism professionals from across the state. Phil Gaines, an adjunct professor at Clemson University and the previous director of S.C. State Parks, received the Fred Brinkman Award for his “enduring and outstanding commitment to improving tourism in the state,” according to the department. Gaines worked in the parks system, joining Kings Mountain State Park’s staff in 1982 and retiring in 2018. Greenville’s Euphoria Food, Wine and Music Festival was awarded with the Governor’s Cup for the festival’s $3.8 million economic impact on tourism and donations to 40 local music, performing arts and food access charities. The Abbeville Opera House, a 300-seat venue on the National Historic Register, was presented with the Charles A. Bundy Award for a 240% increase in economic impact within the rural region since 2017. As attendance of local shows waned over three years ago, the city of Abbeville attracted acts from farther afield, modernized equipment and invested in historic preservation, yielding a resurgence in visitors. Reach Molly Hulsey at 864-720-1222 or @mollyhulsey_gsa on Twitter.

February 21 - March 6, 2022

www.gsabusiness.com 9

Anderson broadband project follows in footsteps of rural electrification By Molly Hulsey

mhulsey@scbiznews.com

nderson County is not one of the most broadband-deprived areas of the state. In Anderson County’s municipal areas, internet customers are moving along at high (or at least, moderate) speed. Still, thousands of households and scores of businesses suffer the frustrations of slow internet service. The majority of the county benefits from moderate broadband speeds with pockets close to the city of Anderson and Greenville County seeing even faster access. But in Honea Path, Pendleton, Williamston and rural locations farther afield, communities packed with more than 200 households per square mile lack any broadband access, according to 2021 maps from the S.C. Office of Regulatory Staff ’s Broadband Office. “When I think of broadband access for Anderson County, I always think of two Anderson Counties,” said S.C. Sen. Mike Gambrell, adding that his own home and that of many of his constituents lack access. “Lots of folks in Columbia take for granted that every county and every city has got broadband.” Upcountry Fiber, a new partnership developed by the Blue Ridge Electric Cooperative and West Carolina Rural Telephone

Cooperative seeks to bridge this “the digital divide” through one of its inaugural forays into the Upstate: a $15 million, 2,800mile broadband expansion to Anderson enclaves with little or no access to highspeed internet. Close to 7,000 households and businesses will be put on the grid, according to the company. The project dovetails with the provider’s ongoing $175 million 2022 expansion project including Pendleton, Pierceville and Townville in Anderson County. Inroads were made in Pickens and Oconee County last year following the creation of Upcountry Fiber, when the Abbeville-based organization pledged to bring broadband to 1,800 square miles across the Upstate, including Anderson, Greenville and Spartanburg counties, through a $150 million investment. “We feel like at this particular time, we are positioned better than we ever have been to make a difference in the lives of our citizens,” Mark Williamston, chief information officer for Anderson County, said at a Jan. 21 press conference about the project. “I think we can all recognize in today’s fastpaced world, that broadband is no longer a luxury; it’s a necessity. It has and will continue to become an essential utility, one no less important than water or power.” Anderson County officials reiterated the

importance of broadband access for health care, education and overall quality of life. “For many years, my constituents have been reaching out to me, asking me to help them find broadband service for their home, business and it’s always been very frustrating not being able to help them, but that’s about to change,” said Anderson County Councilor Brett Sanders, who represents Starr, Iva and several of the county’s most unserved areas. “It won’t happen overnight, but working with Upcountry Fiber, we’ll find ways to be able to serve those people who would otherwise not be able to have proper internet service.” Jim Lovinggood, president and CEO of Upcountry Fiber, said the collective will launch the project in the Pendleton/ LaFrance area this month. The Piercetown project is slated to begin in late spring or early summer, followed by Townville in late summer or early fall. A feasibility study conducted by Powdersville’s Palmetto Engineering highlighted these communities among thousands of unserved and underserved households and businesses in the county. “We’re excited about doing additional projects as soon as more funding becomes available,” Lovinggood said. So far, Upcountry Fiber has installed more than 300 miles of high-speed fiber in Pickens and Oconee counties, serving

more than 1,200 households, businesses and schools. The collaborative currently employs more than 200 people. Jeff Wilson, president and CEO of the West Carolina Rural Telephone Cooperative, compared the push for broadband to President Franklin D. Roosevelt’s Rural Electrification Act in 1936. “Blue Ridge at that time, in 1940, when they were formed, there was no electricity in the rural parts of the Upstate,” said Wilson. “They worked with the government securing low interest loans and they were able to go out and provide electricity to those (areas). Ten years later, in the ‘50s, the same thing happened with the telephone cooperatives. It was such a success getting those low interest loans and the cooperatives were able to go out and serve.” The rollout of these utilities across the Upstate helped lay the groundwork for Upcountry Fiber’s public-private partnership today, he said, as the utility puts to use state and federal infrastructure funding and collaborates with school districts, county governments and rural water districts. “We feel that with the help of the state, and any funding we get at the federal level, we could really move this project along very fast,” Wilson said. Reach Molly Hulsey at 864-720-1222 or @mollyhulsey_gsa on Twitter.

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February 21 - March 6, 2022

Who has the best pizza in the Palmetto State?

Google compiled a list of the 20 best pizzerias across SC, and the No. 1 place is found in the Holy City By Teri Errico Griffis tgriffis@scbiznews.com

hether you call it pizza or a pie, you can unanimously admit these joints have good slices. Just Google it. In honor of National Pizza Day on Feb. 9, the search engine giant compiled a list of Google Maps pizza trends, naming the best in the state. Google didn’t just pick a few pizza joints that showed up in search. They also didn’t send a team around to all the great pizza places in the U.S., but that would be good work if you could get it. The search engine correlated its mapping technology with its review system to come up with an list based on data from users. Of course this isn’t 100% scientific, which is why you need to go grab some pie and do some research on your own. The 20 highest-rated pizzerias in South Carolina, with at least 100 reviews on Google include pizza places from all across the Palmetto State*: 1. Baker’s Bar - Charleston 2. Toni’s Detroit Style Pizza - Mount Pleasant 3. Belladina’s Pizzeria - Greenville 4. Coast Pizza - Myrtle Beach 5. Humble Pie - Long Creek 6. Brooklyn Style Pizza - Pendleton 7. Orlando’s Pizza Mt Pleasant - Mount Pleasant 8. Uncle Mikey’s Pizza - Murrells Inlet 9. Guys Pizza - Pendleton 10. Knead Pizza - Lexington 11. Park Pizza Co. - North Charleston 12. Heath Springs Pizzeria - Heath Springs

CYBER, from Page 1

weren’t even working that well. We still weren’t compliant. And if we continued on that track it was going to be years and a lot of money. And in the end, I’m not confident it would have worked out in actually being secure and compliant.” Help came from the S.C. Commerce Department and the S.C. Manufacturing Extension Partnership, along with the S.C. Department of Employment and Workforce, through a program that last year connected Tetramer and 26 other S.C. companies to firms such as Beryllium Information Security that specialize in leading companies through the compliance process. The S.C. Cybersecurity Assistance Program also pays most of the cost, though it does not cover the cost

Brooklyn Style Pizza, a newcomer to the Square in Pendleton, grabbed the No. 6 spot on the Google list. (Photo/Ross Norton)

13. Coastal Crust - Greenville 14. Palmetto Pizza Company - Central 15. Dempsey’s Pizza - Clinton 16. La Pizzeria - Mount Pleasant 17. World Piece Pizza - Greenville

18. 3 Sisters Pizzeria - Beaufort 19. Slice Co. - Charleston 20. Landolfi’s Italian Bakery - Pawleys Island *Toni’s Detroit Style Pizza, Coast

Pizza, Uncle Mikey’s Pizza, Guys Pizza and Knead Pizza also cracked Google’s list of top 500 pizzerias nationwide.

hardware or software. SCMEP and the Commerce Department are urging companies in — or on the cusp of being in — the DOD supply chain to apply for one of 31 grants offered this year to help meet those cyber security guidelines. Companies are required to put up about $3,000 and the grant pays $22,000, which covers the program cost, according to Andy Carr, interim president and senior vice president of operations for SCMEP. “It takes a fair amount of time and a fair amount of resources to get there to these levels and our program is designed to provide qualified resources for it, and also to provide considerable financial support so it (the cost) is not a deterrent for companies, financially,” Carr said. He said it takes about six months to

complete the process with the help on one of seven vendors that work with S.C. companies to help them meet the requirements that are part of the Cybersecurity Maturity Model Certification. CMMC is a framework of various cyber security standards and best practices. Details and an application can be found at scbizdev.sccommerce.com. According to Cynthia Davis, business and industry manager with the Commerce Department, to get started, a company has to have a brick-and-mortar presence, must have been in business for a year, must have at least four employees and must be in the DOD supply chain. “Working with SCMEP and their program was big for us because the bill for doing it internally was accumulating,”

Haldeman said. “It was big to have that cost mitigated a bit and to connect with Beryllium Information Security and chart a course that actually got us there.” As daunting as the challenge was for Tetramer, which has been in business for more than 20 years and in the DOD supply chain for much of that time, Haldeman said the process would probably keep younger companies away. “If we were 5 years old or less we probably would not start working with the DOD,” he said. “We probably would have just avoided it all together. They want small businesses and they want innovation and new ventures considering DOD applications, but this (cyber security compliance) is a big hurdle.”

CRBJ

Reach Teri Errico Griffis at 843-849-3144.

Reach Ross Norton at rnorton@scbiznews.com.

February 21 - March 6, 2022

www.gsabusiness.com 11

Developers move forward with Piedmont riverfront community By Molly Hulsey

mhulsey@scbiznews.com

evelopers of a green townhouse community on the banks of a Saluda River mill dam plan to break ground this spring after a two-year pause. In 2019, Red Oak Developers, a reconstruction partner in the Judson Mill project and other historic properties, went public with plans to create a hydro-powered residential development within the bones of 1876-era Piedmont Mill One. Only a smokestack stands from the original mill itself following a 1983 fire, but at one point, according to the S.C. Historic Properties Record, Piedmont Manufacturing’s Henry Hammett built out the property to be one of the largest textile plants in the world in the 1800s . The Saluda River dam, a footbridge across the river between two of the Piedmont mill sites and a soon-to-be renovated mercantile space remain, laying the groundwork for what Red Oak Developer’s Brad Skelton hopes will become a “cool urban living” space. The area is “prime for the pickings,” he said, with Piedmont’s close proximity to Greenville and cheaper property than in most municipalities in the county. The historic structures and corresponding tax credits also sweeten the pot.

Piedmont resident Paul Porter snaps a picture of the Piedmont Mill dam, existing pedestrian bridge and in the distance, a smokestack from one of the original Piedmont Manufacturing mills. (Photo/Provided)

“I think it will be more of a millennial vibe maybe. In the town of Piedmont itself, which is contiguous, there are several developers who are already upfitting some of the old building there,” he said. “There’s already a co-work space in an old bank there.” Plans for the refurbished mercantile space will also cater to the younger demographic: a coffee shop, taphouse, cafe and five art studios committed to lease the space several years ago, according to developer KDS Commercial Properties.

Skelton aims to build out 90 to 105 three-level townhomes in Piedmont Village, as well as 25,000-square-feet of commercial space set to house the Saluda Falls Brewery. An eight-foot pedestrian bridge will be reconstructed on the Anderson County side of the Saluda River, which will be dotted with kayak put-ins and accompanied by a trail network once the community is complete. “We’ve got a builder — we’re probably 90 to 120 days before we start moving dirt down there,” he said, adding that he

couldn’t share his contractor yet. “We’ve got all of our due diligence down, we bought the property, we own it.” The CEO and owner of Red Oak Development is less sure today that the community’s reliance on the Piedmont Hydro Electric Project for power will come through — “there’s still an outside chance that could happen,” he said — but the village will still center around green building practices and designers will pursue LEED certification. Semi-underground waste and recycling containers distributed by Greenville-based Sutera will be installed across the property, limiting leakage and pollution into the river. “You don’t have to build an enclosure, you don’t have to have a dumpster, you don’t have all that juice coming out,” Skelton said. “Everything stays in the container: it’s a much more environmentally sound unit.” Coldwell Banker Caine signed on in 2019 as the community’s real estate partner. “The vision behind this community is creative and unique,” Stephen Edgerton, president and CEO at Coldwell Banker Cain, said in the original announcement. “We look forward to bringing this new style of living to the Upstate.” Reach Molly Hulsey at 864-720-1222 or @mollyhulsey_gsa on Twitter.

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February 21 - March 6, 2022

IT’S TIME TO BINGE BUSINESS What’s new on SCBIZtv? With nearly 150 videos (and counting), our YouTube channel features a wide variety of businessrelated content. From recognition events to one-on-one interviews with high-level business executives to in-depth discussions with industry leaders, our playlists have something for everyone. Here’s a sampling of what you’ll ﬁnd on SCBIZtv. What’s New and What’s Hot!

Check out our new content as well as our trending videos on this ever-changing playlist.

Recognition Events

With events like Women of Inﬂuence in the Upstate, Icons and Phenoms in the Midlands and Health Care Heroes in the Lowcountry, SC Biz News honors the movers and shakers across the state.

Coping with COVID

Explore the impact the coronavirus is having on our daily lives, both at home and at the oﬃce.

Coﬀee With

This ongoing video series features business executives sharing insight about their business, the industry in which they work and the community in which they live.

Subscribe to SCBIZtv and stay in tune with what’s happening across South Carolina. https://www.youtube.com/scbiztv

InBanksFocus report few disputes during PPP review window BANKING & FINANCE

Real Estate and Construction

LISTS: Banks, Page 16

By Molly Hulsey

mhulsey@scbiznews.com

he Paycheck Protection Program may be in the rearview mirror for many businesses, but some borrowers continue to be at odds with their lenders over loan forgiveness. “There were a couple larger lenders that were having issues with forgiveness for one reason or another,” said Savannah Wilburn, lender relations specialist at the U.S. Small Business Administration. “Some of the banks had errors in calculating the eligible PPP funds. Other banks had some issues where they were bought out by other banks or financial institutions, and so there may have been a disconnect there.” Her office has fielded quite a few queries over the past few months from small business owners that believed more of their PPP loan should have been forgiven, she said. “There’s just been a couple of instances with some of the large lenders where businesses that may have potentially been eligible to receive PPP forgiveness funds are not receiveing them now,” she said. “So to keep everything transparent and fair for those small business owners, SBA is reviewing any of those applications that were just flat out denied by the lender for forgiveness.” In late January, the SBA began to offer a second opinion to borrowers who qualified for forgiveness but disagreed with their bank over how much of their loan should be forgiven. Regardless of the original loan size, if a borrower received fewer forgiven funds than requested, the SBA calls it a partially forgiven loan. On Jan. 27, the agency prompted lenders to notify borrowers within five

NEXT ISSUE’S FOCUS:

business days of their right for a review and to help guide clients through the loan review process. The borrower will have 30 calender days to get the ball rolling on the application after being notified; the bank will have five days to contact the SBA about the review request, according to the agency. Lenders can also opt into the direct forgiveness program for clients, allowing borrowers to work directly with the agency. So far, according to Wilburn, most reccuring conflicts tend to be lender-specific issues. Some complaints stem from business owners’ confusion about whether independent contractors’ wages were included under the payroll sum. And in a few cases, banks have withdrawn forgiven funds after catching misreported 1099 employees.

Agreeing to disagree

Bank of America, one of the largest banks in both the country and the Upstate, reports that 94% of the 2020 PPP customers who applied for forgiveness were granted their full request. About 87% of those who received 2021 PPP loans also were fully forgiven, according to the Charlotte bank. “Our goal always has been to help clients get as much of their loan forgiven as possible under the existing SBA rules,” Bank of America spokesman Bill Halldin told SC Biz News in a statement. “We will notify those borrowers who received partial forgiveness in the coming weeks and, if they choose to appeal within the 30-day period established by the SBA, we will assist them in that process.” Greenville-headquartered United Community Bank processed more than $2 billion and more than 18,000 PPP loans over the course of the pandemic. So far,

feels like

Home

none has resulted in disputed sums, and only 150 PPP clients have yet to apply for forgiveness. The national average for full PPP forgiveness is 70%, according to Beth Hallock, president for United Community Bank’s SBA division. “Maybe this obviously is an issue somewhere in system,”said Hallock. “As far as UCB, we have not had any ‘partials.’ In other words, we have not had any (PPP loans) where the lender and the borrower did not agree on the amount that was being applied for.” Hallock guesses that confusion over

what is or is not identified as payroll could be the root of partial forgiveness conflicts, adding that communication has been key throughout the process with UCB customers. “We used the entire bank for this. We had to for that many loans,” she said. “And the bankers were willing to engage with these customers to assist them, because most borrowers wanted to comply as soon as possible. They just wanted it to be done.” Reach Molly Hulsey at 864-720-1222 or @mollyhulsey_gsa on Twitter.

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IN FOCUS: BANKING & FINANCE

February 21 - March 6, 2022

Small SC bank working to change options for underserved By Teri Errico Griffis

tgriffis@scbiznews.com

s a bank CEO and immigrant, Dominik Mjartan has long been intrigued by the fact that 30% of wealth in the United States is inherited. His parents had to borrow money to pay for his flight from Czechoslovakia to America. They also had to borrow the $500 he had in his pocked upon touchdown in Arkansas at the age of 16. Over the next 30 years, more than $36 trillion will pass from one American generation to another, according to a recent report from wealth manager United Income. The gifts will give them a leg up in life for businesses, investments, security. This inherited wealth is a lot less common in the Black community, with the Emancipation Proclamation issued only 159 years ago. Freed Blacks had to start over, learning to read and write, saving however they could. ‘You’re talking about a 400-year legacy of carefully constructed systemic disadvantages,” said Mjartan, president and CEO of Optus Bank, the state’s only and therefore oldest minority-owned bank. Optus has survived more than 100 years, while other minority-owned banks have come and gone. Most shuttered with the Great Depression, and then more closed later with the Great Recession of 2008. Founded in 1921, Victory Savings Bank was chartered by a group of visionary African-Americans, including Modjeska Monteith Simkins. Born in Columbia, Simkins advocated for human rights her entire adult life and is known as the matriarch of the Civil Rights movement in South Carolina. (See related story, Page 15) In 1955, the bank settled into the heart of Columbia’s business district on Washington Street. After running into financial trouble in 1999, a group of investors saved the bank from closing. They renamed the institution S.C. Community Bank. The name was limiting, however, Mjartan admits. He was challenged by the board upon his arrival as investor and CEO in 2017 to create a more inclusive business where people, regardless of geography and access to capital, could bank. The restructuring led to a rebrand in 2018 as Optus. Broken down, “opt us” was much closer to the bank’s historic mission. Today, Optus banks people all over the country, providing services, loans and consumer and commercial mortgages. The bank has one physical presence in Columbia, with the ball already rolling to open a Charleston office in 2022. Despite Optus’ limited South Carolina

Dominik Mjartan (left), president and CEO of Optus Bank, and Paul Mitchell, chair of the board, first met at a conference in Los Angeles where they shared an appreciation for helping underserved and unbanked communities. (Photo/Jeff Blake/www.JeffBlakePhoto.com)

presence, the bank caught the attention of JP Chase Morgan a year ago and business changed forever. Nationwide, Chase is committing $30 billion to racial equity, and they are investing $100 million of that into Optus. The investment is Optus’ largest ever, putting money into equity and investor capital, which Mjartan calls a gamechanger. “That’s a big deal for a bank that only could access capital from our own staff and directors and others for years. Now to have an institutional investor, that says something,” Mjartan said. The partnership is long-term, not just a one-and-done donation, said Alfonso Hernandez, executive director at JPMorgan Chase & Co. The decision to invest in Optus came after a long and thoughtful discussion on how to make the money flow to the right places in communities Chase is trying to reach. “Working with (minority deposit institutions) around the country was one of those ways,” Hernandez said. As a benefit of the partnership, Optus clients can now access their funds nationwide, rather than only in Columbia, through any of Chase’s 16,000 ATMs nationwide. Fees will not be incurred by either bank. The collaboration also gives Optus the resources to open more locations in underserved communities that the bank previously wouldn’t have been able to support. To further weave itself into the story, Chase created the Empower Program, a

way for blue-chip companies and major investors to channel the value of their deposits they’re sitting on in Chase’s balance sheets to ways that benefit communities. “The percentage of that 12.5% (interest) give or take is actually redistributed back into those communities in different ways, whether it’s community centers… helping the local food pantry and things of that nature,” he said. “That’s where we’re going to actually distribute the interest that’s accrued in that relationships.” Chase’s confidence in Optus has since brought other investors to the table, quadrupling Optus’ revenue by the end of 2021. The same day Mjartan spoke to the Charleston Regional Business Journal, he connected with a major sports franchise operator that was depositing hundreds of millions of dollars into Chase. Chase recommended the franchise channel some of the value of its deposits into mission-driven banks, therefore extending its impact, Mjartan said. Today, Optus also has loans upward of $150 million, a 500% increase from when Mjartan started. While those loans might be something a bank like Chase sees in a day, to an institution of Optus’ size, the impact is a transformative, Mjartan said. “Imagine if those loans are carefully invested in underserved communities. What is the real impact of that? You can’t really put a number on it because it’s a generational impact that we are able to have in our communities,” he said.

Hernandez shared that Chase’s partnership with Optus isn’t a charitable effort, but a smart, well-thought out complement to the international bank’s own financial ecosystem. Partnering with Optus was also a way for Chase to immerse itself into the community as a newcomer to the state. The bank’s Clemson branch, the first in South Carolina, is only two years old. The Mount Pleasant branch recently turned one. Chase now has 12 branches in South Carolina, with more to come, but the Optus partnership is just as beneficial for the global brand. As part of his local strategy, Hernandez hired a community manager in each of the Palmetto State banks that dives into local LatinX and Black communities and learns how banking can be more effective and beneficial. The role has been so successful that 150 of these positions have since been designated across the country. “To be a part of something like this and something to tell my kids… helping them understand that there is a need to reach across the table and help others that may not know how to bank or do the normal things we take for granted, you know, I think there’s a lot of value in that,” Hernandez said. Mjartan experiences the reward firsthand too. He recalled a Black businessman who couldn’t get a loan from any other bank, but was able to go into business for himself because Optus believed See UNDERSERVED, Page 15

February 21 - March 6, 2022

IN FOCUS: BANKING & FINANCE

www.gsabusiness.com 15

UNDERSERVED, from Page 14

in him. “He was not someone who could have gotten a loan at a larger bank, not because he was a bad borrower, but he simply had a little bit less equity because he didn’t have those advantages historically,” Mjartan said. “He had a little bit less connections.” The man used the loan 20 years ago to buy a commercial property and was now selling it with several hundred thousand dollars in equity. The opportunity changed his family’s life. Mjartan sees the partnership with Chase as broad-based and multi-faceted, allowing even more opportunities like this one. “Despite Chase being a multitrillion-dollar bank, they understand that institutions like Optus Bank complete and completement their efforts to make sure that we have a vibrant, robust economy in America that everyone can participate in,” Mjartan said. of the industry.” Reach Teri Errico Griffis at 843-849-3144.

Optus Bank now sits on Main Street in the heart of Columbia. (Photo/File)

SC Bank has roots in civil rights movement By Teri Errico Griffis

tgriffis@scbiznews.com

uring the civil rights movement, activists were often punished economically. White retaliation came in the form of job firings, loan denials and mortgages called in, explained Bernard Powers, director of the Center for the Study of Slavery in Charleston and professor emeritus at the College of Charleston’s history department. “The segregationists and those who were opposed to racial advancement, racial equality knew, just based on the history, that Black people were particularly vulnerable in that way. And it was a way of striking a blow at Black activism that was not illegal,” he said. One-hundred years ago, the possibility of a white person going to jail for attacking a Black person was small, but there was always the chance, Powers said. Economic retaliation didn’t run afoul of the law and could easily result from a simple conversation. “You could engage in this kind of behavior openly and so it was relatively easy,” Powers said. “You didn’t have to sneak up on somebody in the middle of the night, or you know, wait in a driveway with a rifle as they did planning on Medgar Evers.” Evers was a civil rights activist and World War II veteran who was slain in Jackson, Miss., in 1963 by white assailants

who had made several attempts on his life before fatally shooting him in his driveway. As a solution for the economic blows, Victory Bank stepped in and helped those who stood up. Some of those individuals included a number of Clarendon County residents in 1950. One of the bank’s founders, Modjeska Monteith Smith, is considered one of the greatest human rights activists in the state. Born in 1899, Smith was the granddaughter of emancipated slaves and was elected the first female secretary of the NAACP’s South Carolina state conference. She helped found and worked at Victory Bank in 1921, providing loans to Black community members who couldn’t acquire them from the area’s larger, whiteowned institutions. The bank, known today as Optus Bank in Columbia, gave Blacks an independent basis for activism and provided insulation from economic retaliation, Powers said. “This is also an important example of a business that really put its interests on the line in the interest of civil rights activism,” he said. “A lot of times, businesses will decide, ‘Well, we don’t want to get involved. We don’t want to take a chance on jeopardizing our business relationships with creditors and patrons and so on and so forth.’ But this was a case where Victory Savings Bank really did put it on the line for the movement.” The wealth disparity that’s still prevalent today in Black communities dates

Victory Savings Bank opened in 1921 at 1107 Washington St. in Columbia as the first Black-owned bank in South Carolina. (Photo/Melinda Waldrop)

back long before the 1960s. Slave codes as early as the 17th century did not recognize Blacks as property owners, but rather characterized them as property. “That’s the starting point of the disparity right there,” Powers said. “And so then Emancipation occurred, and as Dr. King would say, you can’t expect two guys to effectively compete with one another in a race when one has a ball and chain around his leg. But that is essentially the race that Blacks have been asked to run in America.” Given those disparities from the beginning, not just in terms of wealth and property, the fundamental legal institutions of society impaired Black people’s ability to learn how to read and write,

acquire wealth, and then even after freedom, dictated life by Jim Crow laws. “When you think about that legacy, that wait of racial discrimination, it is perpetuated and it is compounded,” Powers said. “A lot of people don’t like to talk about this, they don’t want to learn about this. They’re quick to say why are we talking about slavery, it was hundreds of years ago. But there’s a legacy. There’s a legacy, and the legacy has long legs and tentacles which extend to today…. And virtually every racial disparity that exists today can be traced back to the institution of slavery and subsequent forms of racial discrimination and racial oppression.” Reach Teri Errico Griffis at 843-849-3144.

IN FOCUS: BANKING & FINANCE

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Banks

February 21 - March 6, 2022

Ranked by Market Share

•

Company

Phone / Website / Email

Top Local Official(s) / Year Founded

Truist Bank 1 N. Main St. Greenville, SC 29601

864-242-8010 www.truist.com

Wells Fargo Bank N.A. 15 S. Main St. Greenville, SC 29601

Market Share

Market Deposits ($000)

Market Offices

Michael Brenan 1872

18.1

$6,089,665

800-869-3557 www.wellsfargo.com

Justin Hawkins, J. Mark Westmoreland 1852

14.4

$4,843,347

Bank of America N.A. 101 N. Main St. Greenville, SC 29609

864-404-4100 www.bankofamerica.com

Stacy Brandon 1904

10.38

$3,492,704

TD Bank N.A. 104 S. Main St. Greenville, SC 29601

864-552-9025 www.td.com/us

David Lominack 1852

8.96

$3,013,648

First Citizens Bank & Trust Co. 325 W. McBee Ave. Greenville, SC 29601

864-255-3700 www.firstcitizens.com

James G. Gulledge, Jr. 1913

7.9

$2,659,011

South State Bank 200 E. Broad St. Greenville, SC 29601

864-250-4455 www.southstatebank.com

Mike Coggin 1934

6.7

$2,253,753

United Community Bank 2 W. Washington St., Suite 700 Greenville, SC 29601

1-800-822-2651 www.ucbi.com bankinfo@ucbi.com

Rich Bradshaw, Lynn Harton 1950

5.1

$1,715,610

Southern First Bank 100 Verdae Blvd. Greenville, SC 29607

864-679-9480

Mike Dowling, Cal Hurst, Art Seaver, Jr. 1999

3.48

$1,171,512

Bank of Travelers Rest 42 Plaza Drive Travelers Rest, SC 29690

864-834-9031 www.bankoftravelersrest.com

1946

3.14

$1,055,078

GrandSouth Bank 381 Halton Road Greenville, SC 29607

864-770-1000 www.grandsouth.com

JB Schwiers 1998

2.35

$788,989

Arthur State Bank 100 E. Main St. Union, SC 29379

864-427-1213 www.arthurstatebank.com info@arthurstatebank.com

J. Carlisle Oxner 1933

1.68

$566,085

Countybank 419 Main St. Greenwood, SC 29646

864-942-1500 www.ecountybank.com customerservice@ecountybank.com

R. Thornwell Dunlap III 1933

1.65

$554,511

Park National Bank 200 S. Church St. Spartanburg, SC 29306

864-208-2005 www.parknationalbank.com spartanburg@parknationalbank.com

John D. Kimberly 1908

1.52

$511,674

Synovus 201 E. McBee Ave. Greenville, SC 29601

864-241-7900 www.synovus.com info@synovus.com

C.W. "Chuck" W. Garnett, Dixon Harrill 1905

1.49

$500,281

Community First Bank Inc. 3685 Blue Ridge Blvd. Walhalla, SC 29691

864-638-2105 www.c1stbank.com

Richard Burleson 1990

1.4

$471,500

Pinnacle Bank 550 E. McBee Ave. Greenville, SC 29601

864-250-9800 www.mypinnacle.com

Ed Stein 1991

1.23

$412,256

First Piedmont Federal Savings & Loan Association of Gaffney 1229 W. Floyd Baker Blvd. Gaffney, SC 29341

864-489-6046 www.firstpiedmont.com ibank@firstpiedmont.com

Kathy Baines 1933

1.16

$391,651

The Peoples Bank 801 E. Front St. Iva, SC 29655

864-348-6181 www.peoplesbanksc.com

Shawn McGee 1951

1.08

$363,731

United Bank 3695 E. North St. Greenville, SC 29615

864-516-2907 www.bankwithunited.com customerservice@bankwithunited.com

Ryan Earwaker, Jim Boyd 1839

1.01

$339,523

Oconee Federal Savings & Loan Association 115 E. N. Second St. Seneca, SC 29678

864-882-2765 www.oconeefederal.com curt.evatt@oconeefederal.com

Curtis T. Evatt 1924

0.94

$317,802

First Horizon Bank 3401 Pelham Road Greenville, SC 29615

864-213-9109 www.firsthorizon.com

Kin Britton 1898

0.85

$285,669

Regions Bank 290 S. Pleasantburg Drive Greenville, SC 29607

864-233-7989 www.regions.com

John M. Turner 1928

0.71

$238,804

The Commercial Bank 4 Church St. Honea Path, SC 29654

864-369-7326 www.thecommercialbanksc.com

Tim C. Thompson 1934

0.65

$217,844

First Community Bank 45 Farrs Bridge Road Greenville, SC 29617

864-294-9711 www.firstcommunitysc.com

Mike Crapps 1995

0.47

$157,413

Blue Ridge Bank 100 E. Main St. Walhalla, SC 29691

864-638-5444 www.blueridgebank.com customerservice@brbwal.com

C. Kyle Thomas 1957

0.46

$153,994

Because of space constraints, sometimes only the top-ranked companies are published in the print edition. For a full list of participating organizations, visit scbiznews.com/buy-business-lists. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to research@scbiznews.com. 1 Source: Federal Deposit Insurance Corp. deposit market share as of June 30, 2021 (latest available at time of publication).

Researched by Business Report staff

February 21 - March 6, 2022

IN FOCUS: BANKING & FINANCE

www.gsabusiness.com 17

We’re celebrating our customers and communities who have contributed to our successful 75 years of community banking. Because at Bank of Travelers Rest, we’re proud to be

banking in the places we call

home.

864-834-9031 bankoftravelersrest.com

IN FOCUS: BANKING & FINANCE

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Banks

February 21 - March 6, 2022

Ranked by Market Share Company Ameris Bank 1614 Woodruff Road Greenville, SC 29607 Chase Bank N.A. 1075 Tiger Blvd. Clemson, SC 29631 Citizens Building & Loan SSB 229 Trade St. Greer, SC 29651 Pickens Savings & Loan Association F.A. 205 E. Cedar Rock St. Pickens, SC 29671 PNC Bank N.A. 531 S. Main St., Suite 100 Greenville, SC 29601 First National Bank of Pennsylvania 217 N. Granard St. Gaffney, SC 29341 First Reliance Bank 500 E. Washington St. Greenville, SC 29601 Abbeville First Bank SSB 205 S. Main St. Abbeville, SC 29620 HomeTrust Bank N.A. 8599 Pelham Road Greenville, SC 29615 Woodruff Federal Savings & Loan Association 247 N. Main St. Woodruff, SC 29388 Coastal Carolina National Bank 416 E. North St. Greenville, SC 29601 Woodforest National Bank 1451 Woodruff Road Greenville, SC 29607 Select Bank & Trust 115 N. Main St. Six Mile, SC 29682 Fifth Third Bank N.A. 656 S. Main St. Greenville, SC 29601

•

Phone / Website / Email 864-286-5737 www.amerisbank.com

Top Local Official(s) / Year Founded

Market Share

Market Deposits ($000)

Market Offices

Jody L. Spencer 1971

0.32

$107,605

864-729-6242 www.chase.com

Erica Ellenbogen, Tara Coffey, Mark Lucas, Alfonso Hernandez, Justin Brovitz 1824

0.32

$106,326

864-877-2054 www.cblgreer.com

Jennifer Jones 1907

0.32

$108,683

864-878-2444 www.pickens.bank

Roddey B. Gettys 1920

0.3

$100,138

864-282-1600 www.pnc.com

William S. Demchak 1804

0.3

$100,402

864-488-2265 www.fnb-online.com

Vincent J. Delie 1864

0.27

$92,118

864-672-1776 www.firstreliance.com

F.R. "Rick" Saunders 1999

0.27

$90,743

864-366-2158 www.abbevillefirst.com info@abbevillefirst.com 864-605-6200 www.htb.com

Andy Timmerman 1907

0.24

$81,998

1926

0.21

$69,567

864-476-8144 www.woodrufffederal.com

Morgan C. Smith 1934

0.21

$70,530

864-278-0600 www.myccnb.com

Laurence S. Bolchoz 2007

0.18

$60,889

864-676-0090 www.woodforest.com

James Dreibelbis 1980

0.15

$51,787

864-481-3026 www.selectbank.com

William L. Hedgepeth 2000

0.09

$31,608

0.02

$6,151

864-537-4436 www.53.com

Researched by Business Report staff

Is Your Company a GREAT Place to Work? You want to find out for absolutely sure? Then join companies from across the state and let’s all find out together.

Registration Now Open!

All you have to do to take part in the fun is register to participate in the annual Best Places to Work in South Carolina Event. If you truly are a great place to work, you’ll join other companies from across the Palmetto State designated as such to celebrate your accomplishment together. You’ll find out how you stack up against friends, colleagues and competitors.

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PLUS, it will all happen at a party unlike any other. There will be a red carpet welcome, surprise speakers, cocktails, dinner, music, TV cameras, media coverage, and LOTS of glitz and glam. Presented by

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February 21 - March 6, 2022

IN FOCUS: BANKING & FINANCE

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Inflation, supply chain snags contributing to small-businesses concerns By Christina Lee Knauss

Contributing writer

ith inflation rising faster than it has since Ronald Reagan was president, small businesses are among those being hit hard by rising prices. Economists and business leaders from around the Carolinas say South Carolina’s small businesses so far seem to be weathering the storm, but many factors, including a possible rise in the cost of leasing commercial space, could make the coming months more difficult. The National Federation of Independent Businesses’ Small Business Optimism Index decreased in January to 97.1, down 1.8 points from December, with 22% of business owners reporting inflation as their single most important problem. Supply chain tie-ups and difficulty in hiring enough workers are two other concerns causing small business confidence to shrink. “Small business owners have been managing incredibly well, but over the last six months we have seen a sharp drop in the number of small business owners optimistic about the future,” said Mark Vitner, senior economist with Wells Fargo Economic in Charlotte. “It’s mostly concerns about inflation that are driving that. While many businesses have been able to pass along higher costs to their customers, they realize they’re not going to be able to do that indefinitely.” Vitner said one shock that might hit small businesses hard over the next year is related to the Consumer Price Index. Some leases for retail, office or other commercial space are indexed for inflation,

tied to the 12-month cyclical change in the CPI, which is surging at record levels not seen in 40 years. A Feb. 10 report from the U.S. Labor Department showed that the CPI rose 0.6% in January, driving the annual rise in inflation to 7.5%, the highest level since 1982. With the rise in the CPI, Vitner said some small businesses whose leases come up for renewal might deal with an increase in their rent, one more added cost in an already difficult season. In the Midlands, most brokers who deal with leasing for commercial properties do not tie their prices to the CPI, according to David Lockwood, executive vice president with Colliers South Carolina’ Columbia office. Instead, they deal with leases tied to fixed increases ranging from 2.5% to 3% over the long term. “Most of the tenants we deal with want to know exactly what their rents would be over a long period of time, so that’s why these fixed increases have been the norm for a long time,” Lockwood said. “What we are seeing, however, is that because of inflation, some of the fixed increases in the industrial market that used to be on the lower end are now going up to the 3% range.” Rising operating costs are among the biggest challenges for small businesses that lease office or retail space right now, according to Lockwood. “The cost of everything from maintaining parking lots to janitorial services is going up dramatically, and the tenants are having to deal with that whether they pay operating costs directly or reimburse

the landlord through their rent,” he said. New tenants seeking office space also will likely see a substantial increase in office rents over the next six months to a year because of the rising cost of construction, Lockwood said. Despite all these challenges, Lockwood said his firm is not seeing a dramatic rise in delinquencies for commercial rental properties. One bright spot is that the Midlands, despite rising costs, is still a very affordable market compared to many others in the Southeast, according to Lockwood. In general, business real estate prices in the Columbia area are currently about on the same level as those in the Upstate, while prices in the Charleston area are trending higher. “Tenants in Columbia across the board are paying less for office, retail and industrial properties than they would in Charleston, Raleigh, Atlanta, or Charlotte,” Lockwood said. “For instance, a law firm renting space in Columbia would pay on average about 15% more for the same property in Charleston or Charlotte.” Columbia-area small businesses so far are not naming rent increases or other property costs as their main problems because of inflation, although that could change if the surge continues, according to Carl Blackstone, president and CEO of Columbia Chamber of Commerce. Instead, chamber members are saying that the supply chain crunch and hiring problems are combining with inflation to make this a challenging and frustrating cycle for small businesses. “We’ve had a rough couple years and

inflation is just compounding the problem,” Blackstone said. “If we were having inflation by itself but had plenty of supply of the products that people needed, then these businesses could adjust more easily. We have small mom-and-pops who are facing both a lack of inventory and having a problem finding employees. Small business owners can’t control any of these factors right now and it’s just going to take patience and perseverance to get through.” Frank Knapp, president and CEO of the S.C. Small Business Chamber of Commerce, said he has not heard many concerns about commercial real estate rates from his group’s members. Instead, supply chain problems and the increasing cost of goods, especially gasoline, have been the main challenges early in 2022, Knapp said. Supply chain problems and the rising cost of products have been at the forefront for Ava Allen, who has owned and operated her small business, Be Beep A Toy Shop, in Forest Acres for the past 35 years. Allen said some items she first tried to order in January 2021 still have not arrived. Meanwhile, the cost of the goods she can get are rising dramatically, with no end in sight. Her rent for the store on Forest Drive, however, has stayed the same so far. “I’m trying to do what I can to not take a full markup on what I sell, because it’s difficult for customers to be assaulted on all sides with rising costs, but the cost of what I sell is definitely being affected,” Allen said. “And I’m afraid none of this is going to get better soon. We’ve been hit with too many challenges all at once.”

At Work

BUSINESS DIGEST | PEOPLE IN THE NEWS

Business Digest

Credit unions announce merger South Carolina Federal Credit Union announced that it will merge with GHS Federal Credit Union. After the merger is complete on April 30, existing GHS Federal branches will become South Carolina Federal locations, and all GHS Federal employees will remain on staff, according to a news release. GHS has more than 11,000 members. From Left: Sym Singh, director of legislative affairs, Office of the Governor; Kay Self, executive director if VisionGreenwood; state Sen. Billy Garrett; Nanette Edwards, executive director, S.C. ORS; Jim Stritzinger, broadband director, S.C. ORS; and Tom Allen, chief of broadband, communications and safety.

VisionGreenwood explores broadband

VisionGreenwood said it signed a memorandum of understanding with the state agency housing the Office of Broadband Coordinator to establish a pilot program to bring high-speed internet to underserved areas of Greenwood County. VisionGreenwood will lead a crowdsourcing campaign and study to determine the best technology for affordable internet service in certain areas of Greenwood County that do not have access to broadband internet services exceeding 25 Mbps upload and 3 Mbps download speeds.

CDS announces fundraising challenge

The Center for Developmental Services announced a matching-gift challenge to kick off 2022. Bill Schmidt, founder and emeritus board member, and his wife Jean pledged to match up to $25,000 in gifts and pledges to CDS. CDS is a multi-disciplinary treatment facility for children with disabilities and developmental delays.

Graycor’s new location on Main Street in Greenville.

Gaycor opens Greenville location T&S brass competes Phase 1

T&S Brass and Bronze Works, a manufacturer of commercial plumbing equipment, said it completed phase one of a two-part expansion and renovation of its headquarters and plant in Travelers Rest. The project’s initial phase, which kicked off in late 2020, added 53,000 square feet of space to the facility, including new distribution space, a training room, additional offices and other facility enhancements. Phase two of the project, which is ongoing, will convert the former shipping-and-receiving dock area into additional manufacturing space to increase capacity.

Graycor announced the opening of an office on Greenville at 300 S. Main St. Founded in Chicago in 1921, Graycor provides construction services to a range of industries, including retail, commercial, e-commerce, automotive, manufacturing, warehouse and distribution, process and energy. The company said plans to hire estimators, construction managers, project managers and projects controls staff in Greenville.

Firms announce partnership

Charleston-based BrightMa Farms and Greenville-based Logicle Analytics announced a partnership to develop an integrated IoT solution for plant growth and disease monitoring. The product,

Entrepreneur honored for diversity leadership Staff Report

gsanews@scbiznews.com

icole Andrews was recognized as one of the Top 100 Under 50 Corporate Executive and Emerging Leaders in America in 2021 by Diversity MBA Media. The award is intended to honor C-suite executives working to shape the future of corporate America for the better. Andrews, an entrepreneur and vice president of human resources at McMillan Pazdan Smith Architecture in Greenville, earned her spot on the list for creating diversity equity and inclusion strategies in her workplaces and empowering others to achieve success in their careers by embracing their differences, according from a news release from Clemson University, where she earned three degrees. Andrews is also CEO of her own career coaching, speaking and organizational consulting company, Nicole Andrews International LLC. She trademarked “The Career Disruptor” because she believes disrupting the status quo in a career or organization is no longer optional, the news release said. She creates custom programs for organizations looking to drive greater inclusion, engagement, retention and development for their teams in new ways. Andrews graduated from Clemson with a Bachelor of Science in Management and a Master of Human Resources Development. In 2014 she earned her MBA. “I started my career in sales but I was really drawn to the people side of business. I decided I wanted to make a move in my career and went back to Clemson to advance myself in business and human resources,” Andrews said in the release. “I completed both my MHRD and MBA while working full time, learning not only how to innovate in the workplace but how to balance, which helped me in the corporate world and my own entrepreneurial venture.”

known as Sproutrix, will use sensors, drone surveillance and artificial intelligence. BrightMa Farms will serve as the pilot site to test new technology created

After Clemson, Andrews helped companies develop employee engagement, career development and diversity and inclusion strategies. “I learned that inclusion is about everyone, not just one group,” she said in the release. “My goal is to create methods for human connections in the workplace, shifting cumbersome perAndrews formance meetings into meaningful career conversations and giving employees the power to reach their own professional goals by owning their careers.” She also created The Career Disruptor Academy membership in her coaching business, with a goal of helping women who feel unseen or undervalued in the workplace stand out by challenging the status quo and using their unique strengths to create a greater impact. “I challenge my clients not to fit in but rather unlock their unique differences and disrupt their careers on purpose,” she said. “Career disruption is not a bad thing. It’s really about being a positive agent of change rather than passively hoping for things to improve on their own. The women in my membership are called ‘Stars’ because everyone has a unique light to shine in the workplace and the world. It’s not about me being the ‘Star,’ but everyone coming together to make a lasting impact through their professions. The Clemson MBA program helped me become more confident in myself and my ability to make a true difference through my career. My way to pay it forward is through a business that does the same for individuals and organizations looking to truly innovate in the coming years through the power of amazing people.” CTR Factor Consulting co-founder Anita Gonzalez nominated her for the Top 100 award. by Logicle Analytics, as well as to provide the necessary space, infrastructure and on-site support to move the project forward, according to a news release.

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February 21 - March 6, 2022

www.gsabusiness.com 21

Business Digest

ScanSource Inc. names John Eldh president to highlight historical and contemporary women who have made a significant impact in the Greenville community. The free, public exhibition is sponsored by

Building begins on trade center

Frampton Construction Company LLC said it started work on a new 907,444-square-foot speculative industrial development in Greenville called the Upstate Trade Center. The project, comprised of two Class-A industrial facilities, is being developed by The Keith Corp., a developer and owner of industrial, warehouse, and other commercial properties. The project is located near the Donaldson Center Airport on U.S. Highway 25. Merriman-Schmitt Architects is providing design services, and Thomas and Hutton will serve as civil engineer. Work is scheduled to conclude in January 2023.

From left: Mike Wooles, Anderson market executive for Countybank; Kristi King-Brock, executive director for AIM; and Peggy Chamblee, financial center manager for Countybank.

Wyche P.A. It begins March 4 from 6-9 p.m. and will be on display through April 27.

Countybank donates $10,000

The Countybank Foundation said it made a number of donations totaling $10,000 to local charitable organizations in Greenwood, Greenville, Greer, Simpsonville and Anderson. Donations were made to Anderson Interfaith Ministries, the Center for Community Services, Community Initiatives, Greenwood Food Bank, Greenwood Soup Kitchen, Greer Soup Kitchen and Project Host.

Fuel supports Heart Association

Michael Allen, founder and CEO of MOA Architecture

Greenville-based marketing agency Fuel said it selected the Upstate Chapter of the American Heart Association as its first quarter grant recipient for 2022. Through the grant program, Fuel provides pro bono marketing services to

Staff Report

gsanews@scbiznews.com

ohn Eldh has been named president of ScanSource Inc., a Greenville-based hybrid distributor that connects devices to the cloud. As president, Eldh reports to Mike Baur, chairman and CEO, who served as president of ScanSource Inc. from 1992 until Eldh’s appointment. Eldh has built a strong foundation for ScanSource to lead the way in hybrid distribution across hardware, SaaS, connectivity and cloud services, according to a news release. Over the last two years, he successfully transitioned leadership at Intelisys and recruited and promoted channel-centric business executives to lead the device, digital and cloud businesses globally. Eldh’s leadership team includes executives in sales, marketing, operations and strategy. “John has shown the leadership and vision to propel our business into the future,” Baur said in the news release. “John’s ScanSource experience plus his channel background will enable him

People in the News ADVERTISING, MARKETING & PR The Brand Leader hired Justin Loretz to lead business development in Europe. He has more than 20 years of experience in the active-lifestyle sector. Byram

MOA receives Social Justice Award

The S.C. chapter of the American Institute of Architects presented Michael Allen, founder and CEO of MOA Architecture, the 2021 Social Justice Award. Allen was recognized for his work to eliminate inequities in the built environment with the Echo Theater project in Laurens. The historic building was once a segregated movie theater. Now under the ownership of The Echo Project and New Beginnings Missionary Baptist Church, the building is becoming a center for diversity, a place of remembrance and space for hope.

Griffin

Tingle

Infinity Marketing hired Chris Griffin as media coordinator and Shari Tingle as social media coordinator. Griffin most recently worked as a financial planning and investments associate with Northwestern Mutual. Tingle most recently worked as multi-city editor at 6AM City.

Hyatt House Nashville at Vanderbilt

a selected local nonprofit organization each quarter.

Quantrille Gill

Stephens

Infinity Marketing hired Josh Byram as integrated marketing coordinator, Lauren Stephens as search engine optimization specialist and Ben Traines as lead full Traines stack web developer. Byram is a recent graduate of North Greenville University. Stephens recently worked with Data Interfuse as a user interface engineer. Traines most recently worked with Consult Net Group.

Fuel hired Sarah Gill as employee experience manager. She has more than a decade of experience in human resources.

City of Women to launch in March

City of Women, an initiative that aims to advance the role of women in community and businesses, will launch in Greenville with a juried exhibition at Greenville Center for Creative Arts in March. More than 50 Upstate artists submitted work

to drive the next phase of profitable growth for ScanSource.” Eldh joined ScanSource as chief revenue officer in October 2019. “I am thrilled with where ScanSource is heading and how our hybrid distribution strategy enables suppliers and sales partners to win and grow their businesses,” he said in the Eldh release. “I look forward to championing our hybrid distribution growth strategy with all stakeholders.” Eldh has extensive global experience building and leading field, channel and inside sales teams across multiple routes to market for SaaS and consulting companies, the release said. ScanSource was named one of the 2021 Best Places to Work in South Carolina and on Fortune magazine’s 2022 list of World’s Most Admired Companies, according to the release.

Paysmart Payroll Services, a sister company of Stokes & Co. CPAs, hired Sharon Quantrille as payroll specialist. She has four years of payroll experience. See PITN, Page 22

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February 21 - March 6, 2022

People in the News PITN, from Page 21

ARCHITECTURE

White

Patel

DP3 Architects announced that Rhonda White, Kunal Patel and Mike Zibert have been named associates of the firm. In addition, Patel and Zibert Zibert were named studio leaders. White has been with DP3 Architects for more than 25 years and has worked on higher education, community and hospitality projects. Zibert, who has been DP3 for five years, will lead one of the firm’s hospitality studios. Patel, who has been with the firm nearly five years, will lead DP3’s higher education studio.

Gray Ellenberg, a certified financial planner with 20 years of experience, joined Raymond James & Associates as senior vice president of Ellenberg investments for Ellenberg Wealth Management. He will open the firm’s first office in Greenwood and will also maintain an office in Greenville.

Nicholson

CONSTRUCTION

BANKING & FINANCE

Mumford

center manager.

Brooks

Fisher Investments.

Shofner

Countybank promoted Dayle Mumford to vice president and professional and executive relationship manger. Mumford joined Countybank in 2001 as a relationship manager before becoming financial

Tomforde

Cooper

FinTrust Capital Advisors hired Blane Brooks to its senior management team. He previously served as a regional vice president for private client acquisition in the southeast with United Community Bank hired Jim Shofner as senior vice president and senior credit officer. He most recently worked as senior vice president and geography credit leader at Truist Financial Corp.

TD Bank named Grant Nicholson senior relationship manager in the Upstate market. Prior to joining TD Bank, he was director of SBA lending and CRA officer for Community First Bank.

Lang

Sheets

Marsh Bell Construction hired Garret Tomforde as COO. Tomforde previously worked as a project executive for a general contractor in California and has more than 15 years of construction experience. McCrory Construction promoted Stephen Cooper to director of Greenville operations. Cooper most recently worked as a senior project manager.

dent of operations of the infrastructure group. Lang joined Tindall in 1990 as a controller and was named vice president and CFO in 2006. Smith started as an industrial engineer in 2004. Sheets joined Tindall in 2002 as a project manager and senior project manager for the South Carolina prestress division.

ECONOMIC DEVELOPMENT

Scoggins

Russell

HEALTH CARE The Greenwood Genetic Center added Dr. Matt Logan to its board of directors. Logan is president and CEO of Self Regional Healthcare.

Besser

Upstate SC Alliance promoted Lauren Scoggins to COO and director of investor relations and Danielle Besser to communications and engagement managBryson er. Scoggins joined the Alliance in 2015. Besser joined the Alliance in 2016. Additionally, the Alliance hired Jennings Bryson as communications and events coordinator. She is a 2021 Clemson University graduate.

Logan

Haynsworth Sinkler Boyd PA announced that Meghan G. Riordan of its Greenville office has been elected shareholder. Riordan’s practice focuses on advising hospitals, physicians and physicians’ groups, nursing and long-term care facilities and other healthcare providers.

INSURANCE Tom Bates has been named president of Stokes-Farnham Insurance Agency. Bates previously worked as a senior sales executive with Assured Partners.

EDUCATION Jennifer Moorefield, associate vice president for economic development and corporate training at Greenville Technical College, has been named to the GreenMoorefield ville County Workforce Development Board’s S.C. Works Committee.

Smith

Tindall Corp. promoted Cheryl Lang to senior vice president of administration, Rob Smith to senior vice president of operations of the building systems group and Joel Sheets to senior vice presi-

most recently as center director of Sylvan Learning Center in Spartanburg and as regional director for the western Carolinas.

White

Karee White has been named Liberty Fellowship’s first chief advancement officer. She has previous experience working in development for Furman University, Clemson University and The Citadel.

Joan Russell has been promoted to vice president of operations at Sylvan Learning Center. Russell has worked with Sylvan Learning Center since March 2011,

Bates

LAW

Sherard

Suggs

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Haynsworth Sinkler Boyd PA announced that Reid Sherard has been elected president of the Greenville County Bar Association. Sherard leads Haynsworth Sinkler Boyd’s family law practice group. Roe Cassidy Coates & Price announced that litigation attorney Fred W. “Trey” Suggs III has been elected secretary of the S.C. Defense Trial Attorneys’ Association.

Viewpoint

VIEWS, PERSPECTIVES AND READERS’ LETTERS

Community banks ‘turn on’ forex services to increase revenue

istorically, there has been a significant barrier to entry for community banks and credit unions to fulfill their customers’ foreign exchange transaction needs. Lacking the technology platforms and the in-house forex expertise, they have had to rely on correspondent banks to service their customers while losing out on the lion’s share of revenue. Fortunately, the fast-growing fintech sector is bringing forex solutions to smaller community banks and credit STEPHEN unions that allow ARMSTRONG them to deliver the service directly, with competitive rates for customers, increased profit margins, and greater transparency. When the forex solution is already integrated into the bank’s financial system, such as Fiserv’s Payments Exchange, implementing the service can be as simple as selecting the option from a dropdown menu. By doing so, community banks can quickly begin capturing this valuable additional revenue stream while building stronger and more loyal customer relationships. “Traditionally, community banks have forfeited forex revenue when working with correspondent banks,” says Andrew Dillard of Acceleron Bank, in formation, a digital correspondent bank that provides forex technology solutions for community banks and credit unions. “Now, there is software that levels the playing field so small community banks and credit unions can deliver a forex service that is competitive with the alternatives offered by large banks or standalone fintech apps.” Eliminating forex opportunity costs Although many community banks and credit unions offer some type of foreign exchange or international payments capability for their customers, these services typically require the bank to work with a correspondent bank to process the transactions. Although correspondent banks provide a good service, there is little incentive for them to share the fees or offer the customer a competitive rate. “Correspondent banks are focused on maximizing their own margin on each transaction,” adds Dillard. “If the forex experience is less than satisfactory due to high fees or lack of transparency, it can also reflect poorly on the community bank. They could end up losing a valuable customer to a larger bank as a result.”

Although forex was once considered the domain of larger banks serving international business clients, community banks may not realize the current demand that exists for international payment or foreign exchange within their customer base. Given the explosion of global e-commerce, cross-border transactions are more important than ever. With Forex services, companies can make payments in local currencies and receive payment in their home currency through a suite of international payment types: incoming and outgoing wire transfers, forward contracts, cross currency transactions, and foreign currency drafts. “Forex should be considered a strategic tool for community banks and credit unions,” explains Dillard. “It represents another revenue stream and a way to build stronger and more loyal client relationships by taking care of more of the customer’s banking needs.” A competitive fintech solution According to Dillard, some banks see fintech applications as disruptive technology that — like correspondent banks — can gobble up the bulk of the generated fees. However, this does not have to be the case. Acceleron Bank has created software that is embedded within Fiserv’s Payments Exchange that utilizes an application programming interface to exchange information safely between the

applications. The secure web-based Fiserv Payments Exchange is already used by many small banks and is a single entry point that triggers verification, OFAC screening, posting to the account processing systems, delivery to the Federal Reserve and automated customer notifications. Security features include customized authorization levels, dual controls, and data encryption to protect the privacy of the wire transfer data. “The capability for a small bank or credit union to offer a competitive forex service is likely already built into the system they are already using,” explains Dillard. “When that is the case, there are no incremental costs to start, and the option is almost immediately available to implement.” When integrated into Fiserv’s Payment Exchange, the current processes wire initiation, approval, and release processes remain unchanged. “Because it is part of the small bank’s existing technology system, partners and processes, there is no significant learning curve. The bank can simply ‘turn on’ the service and begin processing forex payments in just a few days,” says Dillard. Unlike other single source forex alternative from larger correspondent banks, the Acceleron software is based on having multiple correspondent banks bid on

each customer’s transaction. The bidding occurs seamlessly behind the scenes, with the customer benefitting from more competitive rates. “What really excites me about an integrated, competitive forex model is what this can do for the smaller bank or credit union,” says Dillard. “The pain points of utilizing forex technology and the barrier to entry have essentially been eliminated. “This is about giving these smaller financial institutions an ability to compete, generate new revenues, while taking care of their customers’ needs. It’s about leveling the forex playing field,” he adds. For more information about integrated forex payment solutions for community banks and credit unions, visit www. acceleronbank.com. Stephen Armstrong is a Tustin, Calif.-based freelance writer. He has researched and written about industrial technologies, healthcare, automotive and international trade for the past 15 years.

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