individuals with disabilities, the release stated. In 2011, Clemson’s head football coach, Dabo Swinney, introduced Hayduk to Rich Davies, a third-generation real estate developer and involved Clemson alum, the release stated.
e six-story white brick building at 110 Sloan St., which is located between College Avenue and Sloan Street, features a restaurant called Delish Sisters and a lobby with a grand spiral staircase, according to a news release.
Page
Page 13 See SHEPHERD, Page 9 Arts
INSIDE Leading Off 2 SC Biz News Briefs 3 C-Suite 4 In Focus: Residential Real Estate 11 LIST: Residential Real Estate Companies 17 BONUS LIST: Independent Insurance Agents 18 At Work 20 Viewpoint 23
Roller coaster market forces
Page 6 VOLUME 25 NUMBER 16 ■ GSABUSINESS.COM SEPTEMBER 19-OCTOBER 2, 2022 ■ $2.25Part of the network
Peace Center plans $36M renovation to AMP up the music
e hotel also includes 67 guest rooms, the omas Bar on the third oor, an outdoor terrace and a roo op event space, according to the release.enancial investment of the hotel was notYoudisclosed.might be familiar with one of the hotel’sInspiredpartners.byhis daughter Jamison who has Down syndrome, hotelier Rick Hayduk had long aspired to operate a hotel and employ
Raise10
a glass entrepreneursto
By Jason Thomas jthomas@scbiznews.com
Wemen make their mark on SC winemaking.
A Wild Ride President of South Carolina Realtors talks about the state of the industry. center sets a course to boost the Greenville music scene.
many buyers to choose. Page 14
Up and away Dreamliner deliveries to Europe resume for Boeing..
Shepherd Hotel opens in downtown Clemson
Buy or Rent
Page 8
e three have come together with the goal of positively impacting the lives of others through creating Shepherd Hotels in collaboration with ClemsonLIFE, a nationally rec-
Page T-SLAB11 success
The Shepherd Hotel has opened its doors in downtown Clemson.
Tinall expands customer base for product with Virginia expansion.
FOLLOW US: ON RECORDTHE WEBSITE: @GSABusinesswww.GSABusiness.com @GSABusiness facebook.com/GSABusiness BRIEFS | FACTS | STATEWIDE NEWS | C-SUITE WestinghouseNRC e the NRC’swasteimpactswasreactors.authorizesthe Westinghouse ColumbiaNucleareColumbialastrenewederenewaleirnalgeneratione nal
By Andy Owens
— Megan Riegel, president and CEO, Peace Center
Inventory continues to be a factor impacting the housing markets in South Carolina. e amount of time on the market before a sale had fallen in ve metro areas, but increased in ve others. e longest number of days before a sale occurred in the Columbia area at 130, the Central Carolina Realtors Association Homesreported.in the Spartanburg area sold the fastest in July at only 10 days, the Spartanburg Association of Realtors said. Spartanburg was closely followed by Charleston at only 14 days until a sale, the Charleston Trident Association of Realtors reported.
While the last two years have been the strongest real estate market in a decade, data from SC Realtors show, over 10 years, South Carolina has seen an average home price steadily increase.
Sources: Aiken Association of Realtors, Beaufort-Jasper County Realtors, Charleston Trident MLS, Consolidated MLS, Greater Greenville Association of Realtors, Hilton Head Area Association of Realtors
with three federal interest rate increases this year, South Carolina’s real estate market appears to be robust, year-over-year data from across the state show.
“So what we’re getting ready to do is make another significant investment in the community which is going to ratchet that ($80 million) economic impact up even further..”
Five regional markets saw a more than 15% increase from July 2020 to July 2021 in South Carolina, with the Myrtle Beach area reporting the highest increase at 27.8% from one year ago.
In 2012, the average home price was just over $194,000. Ten years later, in 2021, the average home price had increased nearly 80% at more than $350,000.
Residential home prices stay strong across SC after interest rate hikes
Market reports from multiple listing services and Realtor associations for July show double-digit percentage increases from a year ago in nine of 11 metro areas of the state. Only Hilton Head, one of the highest-priced markets for residential property, saw a 0.50% dip in home prices, data from the Hilton Head Area Association of Realtors indicates.
Leading O
Even
NRC renews license for Westinghouse fuel plant
www.gsabusiness.com 3September 19-October 2, 2022
511 Meeting purchased by private equity firm Northland
511 Meeting is comprised of 221 studio, one-, and two-bedroom apartments, 33 of which are rent restricted, according to a news release. e podium-style mid-rise building includes a fully equipped tness center with a separate yoga studio, a bike storage and repair area, and a second-story pool deck with a re pit and grill stations. e modern building also features a resident lounge for entertaining, with a billiards table, foosball table and bar space, as well as 2,960 square feet of dedicated retail space occupied by Blum, a co ee and wine bar.
COLUMBIACHARLESTON
CharlestonBusiness.com SCBIZmag.com Tmortgages going the to rent right now than was last trend, according statistics theirhome, takingsellers thatNsupplies industrial gases the the separation unit will operat are proud our company’s long-time did not say the investments will create Buyers and renters find uneasy housing market INSIDE Going public become publicly traded. Nucor Corp. to invest $200M in 5-year span INDUSTRY IN FLUX By Melinda Waldrop frame,”FSmithsaid.“Wehavejust attraction for many fair attend- Some parts that picture N starting production nitrile tic production critical PPE for U.S. state and local cials joined Nephron INSIDE Changes afoot You packed what? Claflin University recognizes SC State Fair has provided showcase for makers since 1869 A FAMILY AFFAIR Nitrile tonowproductionglovestepcloserreality 511 Meeting is Northland’s third purchase in the Charleston market. (Photo/Provided) OCTOBER 3 EDUCATION AND DEVELOPMENTWORKFORCE List: Postgraduate Degree Programs Bonus List: Private Schools Advertising Deadline: September 19 OCTOBER 17 ARCHITECTURE, ENGINEERING AND CONSTRUCTION (AEC) List: General Contractors Advertising Deadline: October 3 NOVEMBER 21 BANKING & FINANCE List: Financial Brokerage Firms Advertising Deadline: November 7 DECEMBER 12 ARCHITECTURE, ENGINEERING AND CONSTRUCTION (AEC) List: Commercial Property Management Cos. Advertising Deadline: November 28 For advertising information, call Rick Jenkins at (864) 720-1224 Target your market in an upcoming issue of the GSA Business Report
e Columbia facility produces nuclear fuel for use in commercial nuclear power reactors. e license was rst issued by the Atomic Energy Commission in 1969 and was last renewed by the NRC in 2007.
SC Biz News Briefs
e Nuclear Regulatory Commission has renewed the operating license for the Westinghouse Columbia Fuel Fabrication Facility in Hopkins. e renewed license authorizes the facility to continue operations through Sept. 12, 2062.
Columbia Regional Business Report
e renewal follows completion of safety and environmental reviews by NRC sta . eir nal environmental impact statement, published July 29, described “small” impacts on most resources and “small to moderate” impacts on groundwater and waste generation during decommissioning.
e nal safety evaluation report was published July 29 and will be available through the NRC’s webpage on the Westinghouse facility.
Charleston Regional Business Journal
Northland, a national real estate private equity firm, has purchased 511 Meeting in Charleston. The residential building is Northland’s third investment in the Charleston area. Terms of the sale were not disclosed.
ColumbiaBusinessReport.com
“Since our entrance into the Charleston market in 2019 with e Standard on James Island and Wharf 7 on Daniel Island, we’ve been actively seeking additional opportunities for expansion onto the Peninsula,” Bruno Setteducati, Northlands director of investment, said in the release.
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.
My very first job was cleaning and then oiling the large concrete forms used to build foundation and basement walls.
My primary responsibility as president of Cothran Homes is to design and build quality craftsmanship, single-family homes and multifamily developments in the Upstate. Some days I feel like an intern-in-training because I work alongside the best craftsmen, designers, sales professionals and construction experts in the business.
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Access to skilled trade partners who are truly experts in their field is our sti est challenge. Tight labor market premiums by nature produce an unconsciously incompetent workforce.
4 www.gsabusiness.com September 19-October 2, 2022
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As a new builder we started building communities way out in the country. Our bankers were not happy at all. Their housing research data was clear, no one was ever going to drive clear out to Pelham Road and buy a home.
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Innovators
Heartbeat Technologies (Mount Pleasant)
Victory ExoFibres LLC (Central) Community Sevice
e InnoVision Awards honor South Carolina individuals and organizations for impactful innovations under development in South Carolina within the last 18 months, according to an InnoVision Awards news release.
Crisis Intercept Mapping for Service Members, Veterans and their Families (SMVF) Suicide Prevention (Pickens)
ASSET LLC (Columbia)
Sustainability (sponsored by Sonoco)
19-October 2, 2022 www.gsabusiness.com 5September 19-October 2, 2022
Reach Jason Thomas at 864-568-7570.
Innovators across state named InnoVision awards finalists
Sprattronics Learning Lab (Greenville) Technology Application (sponsored by DartPoints)
VBASE(Moore)Oil Co. (Pendleton)
is year marks the 25th anniversary of the InnoVision Awards.
All nalists will be recognized during the InnoVision 2022 Meet the Finalists Series sponsored by the South Carolina Research Authority, according to the release. e series will be held virtually at 4 p.m. on Sept. 20, Sept. 27, and Oct. 4. Each event will feature nalists in two award categories. e series is open to the public and free to those who register in advance at showcasetheAwardswillcom/o/innovision-awards-30751864686https://www.eventbrite.InnoVision’sannualawardsprogramculminatewiththevirtualAnnualCelebrationonNov.15.DuringAwardsCelebration,InnoVisionwilleachnalist’sinnovationwith
a video pro le, announce the winner in each award category, and present two special awards: e Ibrahim Janajreh Young Innovator Award and the Dr. Charles Townes Individual Achievement Award.
The Sophia Institute (Charleston)
Small Business Advent Innovations (Columbia)
Zylo(Anderson)Therapeutics Inc. (Greenville)
Education (sponsored by TTI Consumer Power Tools Inc.)
Digital Drive – South Carolina Broadband Office (Columbia)
MedEx Academy – Prisma Health System Skillsgapp(Greenville)LLC(Greenville)
DELIBERATELY DIFFERENT MEDICAL SCHOOL
Foresight Data Systems LLC (ColumLaminaheatbia) LLC (Greer)
Hands-on, practical and purposeful, the M.D. program at the UofSC School of Medicine Greenville is unlike any other. We think different, behave different, teach different — because the future of healthcare requires meaningful change — the kind that stands to improve the lives of many, within our community and well beyond it.
See how we’re transforming medicine, one doctor at a time greenvillemed.sc.edu
from a broad swath of industries across South Carolina have been named finalists for the 2022 InnoVision Awards.
Eighteen organizations in six categories represent an array of sectors, big and small, from across South Carolina’s innovation economy.
Finalists for the InnoVision Awards will be recognized during two virtual ceremonies this month and one in October. (Photo/File)
By Jason Thomas jthomas@scbiznews.com
CyCrypt LLC (West Columbia)
Clemson University Environmental Engineering and Earth Science Department Performance(Clemson) Enhanced Delivery
Technology development (sponsored by SC Tech, an initiative of South Carolina Council on Competitiveness)
Here are the finalists:
TTI Outdoor Power Equipment Inc.
The
A nod to Nashville’s famed Bluebird Café, The Mockingbird will be a listening room inside the historic Gullick and Markley buildings on Main Street next
“We’re excited that we’re in this place for great entertainment, but the reality is we’re great for the community, too,” she said. “So what we’re getting ready to do is make another significant investment in the community which is going to ratchet that economic impact up even further.”
She said AMP is an important step in fulfilling the Peace Center’s central vision to build the local music scene, create connections and expand the reach of the performing arts in the South.Once complete, the project will effectively achieve the Peace Center’s longstanding goal of realizing a fully-functioning, 10-venue arts and entertainment campus by or before 2030.Building designs for AMP were developed by Greenville architecture firm Craig Gaulden Davis with landscape design from the Greenville studio of MKSK. Craig Gaulden Daivs designed the original Peace Center campus that opened in 1990 and has extensive renovation design experience with historic buildings, a primary reason they were chosen for AMP, the news release Constructionsaid.is expected to begin in February 2023 with completion coming late in 2024.
Peace Center has plans to make Greenville a bigger dot on the map of music cities.
The project brings more than music, though. A just-completed study by the University of South Carolina places the annual economic of the Peace Center, which attracts about 350,000 each year, at $80 million, Riegel said.
to the Gunter Theatre. It is described as “a casual, intimate, lounge-like setting (that) will create a space for artists and their audiences to connect in close, personal ways.”
See PEACE, Page 7
6 www.gsabusiness.com September 19-October 2, 2022
for a long time.”
The main entrance will face Main Street with the listening room on the street level. The interior is designed will blend modern elements with traditional features, such as exposed brick walls, punched tin ceiling panels and hardwood floors. Except for new windows and doors, minimal exterior renovations are planned, the release said. The existing tan brick of the Gullick and red brick of the Markley will
By Ross Norton rnorton@scbiznews.com
Artist Dorms
The five projects that make up AMP are:
“Believe it or not there are some acts that do not want to play the concert hall, right? They want to be in a room with a mosh pit. They want to be in a room where people are on their feet and having a good ol’ time,” Riegel said at a press event. “Different artists thrive in different spaces and so what we’ve created is this variety of spaces to serve a variety of artists and a variety of audiences.”Shesaid the public for years has told her Greenville needs more spaces for those“We’veperformances.listened carefully to what our community says it wants regarding live entertainment,” Riegel said in the announcement. “These new venues will complete the circle of our live music scene and attract a whole new range of artists and visitors to Greenville. People have been waiting for this
Peace Center President and CEO Megan Riegel on Sept. 13 unveiled a major renovation project designed to diversify Greenville’s live music scene by diversifying possible venues for musical artists and music fans. Called AMP, for A Music Project, the plan calls for a new purpose for three buildings on the Peace Center campus that will include a flat floor music club, an intimate listening room, a podcast and recording studio, and artist dorms.
The Mockingbird
The most visible addition will be two news venues for live music: one is an intimate café-style setting for small audiences and the other is a three-tier flat-floor music venue to attract the acts and the fans who prefer the up-close, standing-room experience.
remain largely untouched, ensuring both buildings retain their historic character and charm.
Dorms on the campus will be a place for performers to find some privacy or unwind before and after a show. (Image/Craig Gaulden Davis)
The intent of the $36 million project is to deliver a larger variety of live music options in Greenville. By repurposing what the Peace Center considered underused real estate and providing new mission-centric programming, the venue can continue to meet the needs of the community and help Greenville become a more vibrant music town, Riegel said.
Peace Center ready to turn up the volume
The Mockingbird name is a nod to the famous Bluebird Cafe in Nashville. The exterior of the building will be largely unchanged. (Image/Craig Gaulden Davis)
e space directly above e Mockingbird will become a three-bedroom suite for the use of artists performing at any Peace Center venue. e artist dorms will accommodate performers who want a bit of privacy from their public life on the road or a convenient place to stay before or a er their gig. is fully furnished, 3-bed/3.5-bath suite will feature modern
The Studio
19-October 2, 2022 www.gsabusiness.com 7September 19-October 2, 2022
Americana and more. The Coach Music Factory will have a club vibe to satisfy serious live music lovers, and the size, acoustics, lighting and other technical aspects that today’s professional touring musicians demand, the news release stated. It will be designed to be similar to The Orange Peel in Asheville and the Fillmore in Charlotte.
The $36 million project is the next phase but not the last stop in the evolution of the Peace Center, its president and CEO said. (Image/Craig Gaulden Davis)
Representing 10 counties + 10 cities, and supported by 180+ member companies, the Upstate SC Alliance champions the region’s economic future with a collaborative #TeamUpstate spirit. Join us. At the Upstate SC Alliance, we wake up every day thinking about the region’s future, ensuring there are opportunities on the horizon. Recruiting international businesses. Building awareness for the Upstate’s economy. Curating research and data insights for critical business decisions. Creating opportunities for Team Upstate to network and stay in-the-know. Connecting employers with talent, tools and marketing opportunities. It’s a collaborative effort, #TeamUpstate’s collaborative, “can-do” spirit shines. Partner with us, and your company can help shape the region’s JOINfuture. US IN Growing the Upstate Page 7 PEACE, from Page 6
The Peace Center is a six-acre campus downtown that currently consists
A final element of the AMP program is to elevate the Wyche outdoor event space with distinctive environmental landscaping.“Usingnatural foliage and re-routing pathways leading to and from the open-air structure, the Wyche will take new root in a garden-like setting,” the release said. “Designed as an extension of beautiful Falls Park just a stone’s throw away, a river terrace running the length of the Wyche will provide pedestrians an attractive walkway overlooking the banks of the Reedy River. ADA-compliant semi-circular paths will provide easy access into either side of the building with subtle landscape lighting to illuminate the way and create a peaceful ambiance.”
Wyche Landscape Design
of the 2,115-seat Peace Concert Hall, 400-seat Gunter Theatre, an outdoor amphitheater and a number of event spaces including the iconic Wyche building and the Huguenot Mill. The expansion will mean an undetermined number of new jobs, Riegel said. The Peace Center currently has 48 full-time employees.
Coach Music Factory
The historic Coach Factory flanking the east side of the Peace Amphitheater will be repurposed into a threetiered, standing room live music club for national and local acts. Peace Center operators say the club will feature a broad group of musical genres such as hip hop, indie rock, country, jam bands,
The space next to the artist dorms will be turned into a professional podcast and recording studio. Managed and operated by the Peace Center, the studio will be available for booking by artists who want high quality, professional recording, mixing, editing and related audio services. It also provides the Peace Center opportunities to produce original content, the release said.
baths, a living area and kitchen with views of Main Street and the Reedy River.
Staff Report gsanews@scbiznews.com
concrete to serve as blocks over which structural concrete is poured, leveraging the arch e ect for load distribution, while capitalizing on longitudinal prestressing for total span capability, the company says.
patients and families they serve.”
8 www.gsabusiness.com September 19-October 2, 2022
rough the a liation, Self Regional will work with MUSC Health to advance the expertise of clinical sta via mentoring related to the latest technologies and procedures in cardiovascular surgical care, according to a news release. In addition, the a liation with MUSC Health will allow Self Regional’s patients access to clinical trials, providing
Spartanburg-based Tindall is opening a dedicated production line at their Virginia manufacturing plant for their patented precast concrete floor slab system, Tindall Superior Lightweight All-Purpose Beam — the company’s trademarked T-SLAB product. e company says T-SLAB o ers superior performance and constructability over both cast-in-place and hollow-core precast concrete in a single, completely precast concrete product. Tindall now will o er the only oor slab system of its kind in the country to the Virginia, Washington, D.C., and other Mid Atlantic market areas, according to a news release.
Multiple slab thicknesses enable T-SLAB to achieve optimal spans in the range of 30 feet to 45 feet, supporting typical commercial and residential oor loads.
Tindall opens new production line in Virginia
“Tindall can develop nearly every precast product imaginable, but T-SLAB is the missing piece in achieving our cost-competitive, total precast system,” Greg Force, president and CEO of Tindall, said in the news release. “ e system’s bene ts ultimately reduce construction time and costs, crucial factors to consider when it comes to choosing a construction partner.”Tindall is licensed to provide the T-SLAB ooring system in 10 states: Alabama, Georgia, South Carolina, North Carolina, Virginia, Maryland, Tennessee, Louisiana, Mississippi and Florida. Starting in June 2020, Tindall’s South Carolina Division has supplied T-SLAB products to multiple Tindall location territories, including their own. Tindall’s Mississippi Division is scheduled to have slab production online before the end of the year, making T-SLAB readily available for projects across the majority of Tindall’s operational footprint, according to the release.
and other potential applications.
Expanding production to Virginia now and Mississippi by the ends of the year will expand the T-SLAB’s availability to most of the company’s territory in the South and Mid-Atlantic. (Photo/Provided)
elf Regional HealthCare and the MUSC Health Cardiothoracic Surgery Network, based in Charleston, have signed an affiliation agreement with a goal of expanding the Greenwood program’s surgical capabilities.
patients in the Upstate with some of the most promising cardiovascular treatments currently available in the nation.
Tindall Corp. is one of the largest precast concrete manufacturers in North America. Tindall’s two business groups have facilities throughout the Mid-Atlantic, Southeastern and South-Central United States. Tindall provides engineering, manufacturing, shipping and installation solutions for precast, prestressed concrete systems and underground utility structures.
“Self Regional is thrilled about this partnership,” Dr. Matt Logan, president and CEO of Self Regional Healthcare, said in the news release. “Working with such a respected organization as MUSC will not only allow our patients enhanced access to treatments but will also improve the cardiothoracic care we’re able to provide here in the community.”SelfRegional’s Heart and Vascular Center provides a range of advanced heart care, from prevention and emergency cardiac care to open heart surgery and rehabilitation, the release said. e Heart Failure Clinic at Self Regional
was recognized by the American Heart Association’s Get With the Guidelines in 2015, 2016 and 2017 based on the clinic’s quality and outcomes in stroke care and heart failure. Its Chest Pain Center is nationally accredited.
“As the state’s only comprehensive academic medical center, we have a unique ability and responsibility to assist other South Carolina care providers as they seek to optimize local heart care,” Dr. Marc R. Katz, profess or and chief of MUSC Health’s Division of Cardiothoracic Surgery, said in the release. “We want to help our colleagues in Greenwood take things to the next level through collaboration, education and research, as well as assisting as needed with clinical care for the bene t of the
S
Self Regional affiliates with MUSC Health network
e slabs provide superior re resistance and sound insulation, while o ering
Staff Report gsanews@scbiznews.com
T-SLAB capitalizes on arch design principles by using super lightweight
It is the only program in South Carolina to o er heart transplantation, robotic valve surgery and complex aorta surgeries. e center also includes the state’s only cardiovascular genetics program, o ering personalized care for patients and families with inherited heart and vascular conditions.
greater design exibility and construction enhancement than other competing systems, the news release stated. e T-SLAB production process enables the inclusion of conduits, solid zones as may be structurally or functionally required, and holes for ducts and drains. When combined, these capabilities make T-SLAB a cost-effective and schedule-friendly system, good for mixed-use, dorm, multi-family residential, o ce or hotel construction
e MUSC Health Heart and Vascular Center has the largest combined team of heart and vascular specialists, researchers and educators in the state, o ering experience with all levels of heart care, the release said. e multidisciplinary team o ers a services that results in rates better than the national average for complications and hospital readmissions, the release said.
19-October 2, 2022 www.gsabusiness.com 9September 19-October 2, 2022
EXPERTSBOOK
in our Clemson family who are typically underserved while also stepping up in a tremendous way to bring a bestin-class hospitality experience to our guests.”
The lobby of the Shepherd Hotel will be a training ground for ClemsonLIFE students with disabilities. (Photo/Provided)
“They have seen the value in creating transformative opportunities to those
supported the project during the hard-hitting financial times surrounding the pandemic, the release stated.
SHEPHERD, From Page 1
Rich Davies, founder and CEO of Pavilion Development Co. and co-founder of The Shepherd Hotel, in the release.
of Are you looking for a way to promote your expertise? The Book of Experts is your opportunity to convey your unique skillset to Upstate business leaders. The narrative format is a great way to share complex information, and demonstrate your ability as a subject matter expert. Put the power of our audience to work for you! BOOKEXPERTSEXPERTS of December 24, 2021 Volume 24, No. 24 For advertising information, contact Rick Jenkins at (864) 720-1224 or rjenkins@scbiznews.com PUBLICATION DATE: December 19, 2022 | ADVERTISING DEADLINE: November 4, 2022 20 22
ognized collegiate academic program Clemson University o ers to young men and women with intellectual disabilities to prepare them for competitive employment and independent living.
What makes the Shepherd Hotel unique is those who work there, the releaseMorestated.than 20% of the hotel’s sta comes from ClemsonLIFE. ese associates can be found welcoming guests in the hotel lobby, serving in the Delish Sisters restaurant, working in the kitchen, and maintaining guest rooms and public“Weareas.areso excited to welcome the Clemson community to the Shepherd Hotel for a truly remarkable experience,” said Hayduk, co-founder of Shepherd Hotels, in the release. “ is is more than a luxury hotel. It is a life-changing opportunity for individuals with special abilities to train and work in the hotel and restaurant while helping them further their skills obtained through the ClemsonLIFE program.
“Our hope is that guests are inspired by our entire team and realize the value, work ethic and heart for hospitality shown by this incredibly special group of Buyingpeople.”intothe mission-oriented vision of the hotel’s founders, several organizations partnered with the founders to help bring the hotel to life, including First Horizon Bank, which
“We are so grateful to our partners whose passion aligns with ours,” said
Acting FAA Administrator Billy Nolen met with FAA safety inspectors in South Carolina on Aug. 4 to hear whether the inspectors were satis ed with the actions Boeing has taken since deliveries ground to a halt in 2021 as the company and agency addressed safety concerns over tiny gaps found between sections of the fuselage. e FAA greenlighted deliveries four days later and the rst plane was delivered Aug. 10.
Goodwill and SCDVA’s agreement also symbolizes an important milestone for South Carolina and the veterans and their families who call this state home.
Goodwill and SCDVA signed a memorandum of understanding for the nonprofit to formally join other veteran-serving organizations under the South Carolina Veteran Coalition powered by “Combined Arms,” the release stated. Combined Arms creates a network for organizations to more easily and e ectively communicate and identify available services for veterans and their families, and then make referrals as needed.GIUMSC’s spectrum of programs have long-supported veterans looking for education and employment assistance, directly placing hundreds of the veterans into meaningful jobs each year, the release stated.
“With the Boeing 787, we are intro-
SCDOR: Student loan forgiveness not subject to state tax
Recognition
“ is MOU is the nal piece in establishing complete coverage across all 46 counties in South Carolina,” SCDVA Director of Operations David Rozelle said in the release. “Goodwill has been an important leader in assisting veterans and their families, with or without any agreements, as they organizationally have always looked for and found ways to partner and support our veterans.”
In mid-August, President Biden announced the cancelation of $10,000 in federal student loans. e cancelation applies to those who earn less than $125,000 a year or $250,000 for couples who le jointly. Pell Grant recipients are also eligible for an additional $10,000 in relief.
19 days after resuming deliveries of its North Charleston-based 787s with a 787-9 to American Airlines, Boeing resumed deliveries to Europe with a 787-9 to Lufthansa in a celebration Monday at Paine Field in Everett, Wash.
By Christina Lee Knauss cknauss@scbiznews.com
Nineteen days after delivering a 787-9 to American Airlines, Boeing resumed deliveries to Europe. (Photo/File)
Using 25% less fuel and creating 25% fewer emissions than the airplanes they replace, the 787 family has avoided more than 125 billion pounds of carbon emissions since entering service in 2011, the news release said.
IT’S TIME TO BINGE BUSINESS With nearly 150 videos (and counting), our YouTube channel features a wide variety of business-related content. Our playlists have something for everyone. Subscribe to SCBIZtv and stay in tune with what’s happening across South https://www.youtube.com/scbiztvCarolina. What’s New and What’s Hot! Coffee With Coping with COVID
In addition to 32 787 Dreamliners on order, the Lu hansa Group has rm orders for 20 777-9 passenger airplanes and recently placed a rm order for seven of the new 777-8 Freighter.
Boeing resumes Dreamliner deliveries to Europe
South Carolina residents who receive student loan forgiveness through a plan recently announced by President Joe Biden will not be taxed for it, according to the S.C. Department of Revenue.
able income,” the statement read.
In a statement dated Sept. 1, the DOR said residents will not be taxed because in May, the S.C. General Assembly adopted Internal Revenue Code (108) (f) (5), which describes how student loans that receive forgiveness at the federal level are excluded from federal taxable income. e code was temporarily revised under the American
Events
oodwill Industries of Upstate/ Midlands South Carolina and the South Carolina Department of Veterans’ Affairs are banding together to ensure veterans and their families have access to the strongest network of education, employment and family support services, a Goodwill news release stated.
G
“Our hope is that no one who stands up in service of our country ever feels lost, hopeless, or unprepared for life a er active duty,” said GIUMSC President and CEO Patrick Michaels in the release. “As an Army veteran, Goodwill was my ‘stepping stone’ to the civilian workforce. Nearly 30 years later, I’m overjoyed with knowing that we now have the opportunity to help others take that same step.”
Reach Ross Norton at 864-720-1222.
10 www.gsabusiness.com September 19-October 2, 2022
Last year, GIUMSC provided education and career services to more than 10,000 South Carolinians, according to the release.
By Jason Thomas jthomas@szbiznews.com
Goodwill joins SC veterans workforce initiative
By Ross Norton rnorton@scbiznews.com
since 2020. e 787-9 can y 296 passengers up to 7,565 nautical miles in a typical two-class con guration, the release said.
Rescue Plan of 2021 to add special rules for the discharge of student loans through 2025.“To the extent a student described in IRC Section 108 (f) (5) is forgiven for federal income tax purposes and excluded from federal tax income, then the amount is also excluded from South Carolina tax-
ducing another modern aircra type that is one of the most fuel-e cient long-haul aircra in our eet,” Jens Ritter, CEO of Lu hansa Airlines, said. “ is will allow us to signi cantly further improve the average CO2 balance. is aircra is sus-
Just
tainable and o ers customers a premium yingSinceexperience.”revenue service began in 2011, the 787 family has launched more than 325 new nonstop routes around the world, including approximately 50 routes opened
e Lu hansa Group, Europe’s largest airline group, has 32 rm orders for the 787, according to a news release from Boeing. e company says the 787 Dreamliner’s fuel e ciency is driving its demand.
Reaping the rewards
19-October 2, 2022 www.gsabusiness.com 11September 19-October 2, 2022
What followed was a long process of training in a winery in 2018 to learn every facet of the process.
SC women making mark in wine industry
e two women then started researching the ingredients of wine and discovered that it is o en the sugars, sul tes and tannins added to mass-produced wines that causes headaches.
Williams urges women with an interest in wine to educate themselves about all levels of the industry and gure out what sector interests them most.
“However, I’ve received a lot of support not only from other women in the industry but from members of the African American Vintners Association and others. And we’ve received great response from wine lovers. At both locations, we meet people who travel from far away to try our Williamswines.”came to the industry from a career as a corporate lawyer. She loved wine and would visit vineyards wherever she traveled. She got interested in the
ey then sampled some organic wine which resulted in no headaches, and Ossa decided to get into the business.
“I realized I’m not the only one looking for this type of wine, and instead of having to go home and nd stores that carry these organic wines, I decided to make my own,” she said.
She urges women to do all the research they can about the eld, get some work experience at a winery, and gure out what level of stress they are willing to accept.Years ago, she had ambitions of distributing her wines around the region, but soon discovered that distributors wanted her to make the rounds of restaurants and wine stores in the Carolinas and beyond to host wine tastings and other events.
a woman-owned vineyard in the Panedes region of Spain.
Lowcountry history
North Carolina-based winemaker Lindsey Williams is breaking ground in two ways. Not only is she a woman, but she also is one of the less than 1% of American winemakers who are African American.Williams opened her rst winery, the successful Davidson Wine Co., in Charlotte, in 2019. She expanded her business to Charleston earlier this year, opening Charleston Wine Co. at 63 S. Market St. in February.“WhenI rst opened Davidson Wine, I think there was skepticism, both because the Carolinas are not generally a wellknown place for wine, and because there are simply not a lot of people in the industry who look like me,” Williams said.
It was the search for a headache-free glass of wine that drew Fort Mill resident Mary Anna Ossa into the wine business.
“I’ve always loved wine, but every time I had more than one glass I would get a horrible headache, and I stopped drinking wine for a while because of that,” Ossa said.While on a visit to Spain to see her best friend from college in early 2020, Ossa had a couple of glasses of wine and, as expected, had a bad headache the next day.
Ossa hopes to use her company as a way to reach out and support other women entrepreneurs in the wine industry and beyond. e key to a successful career in wine or anything else, she said, is courage.“Onceyou make the decision to start a business and take that rst step, you’re halfway there,” she said.
Ossa’s background in sales and marketing helped her to navigate the challenges of launching a wine company, but she admits there were some daunting challenges at the beginning, including learning about all the regulations involving the sale and distribution of wine.
W
Weigle said happiness is one of the keys to running a successful winery.
business a er staying at a vineyard during a trip to Italy.
Ossa, a native of Venezuela who has lived in the Carolinas for more than 20 years, launched Partners and Grapes wine company in Fort Mill in 2021. e company specializes in distributing organic, vegan wines made from grapes grown at
One of the big challenges is climate. South Carolina weather is simply not conducive to growing most traditional wine grapes. However, sweet grapes like scuppernongs and muscadines thrive here, which is why Weigle grows them at her Little River location and at another vineyard in North Carolina. Williams, meanwhile, sources her grapes from California, the Paci c Northwest and sometimes from overseas.
hen Vicki Weigle set out to develop a vineyard and winery on the grounds of a former tobacco farm in Horry County nearly 30 years ago, many local farmers thought she was making a big mistake.
“ ere was a lot of learning involved, but this whole experience has been the dream I didn’t know I had,” Ossa said.
All three women have advice for others like them who are looking to get into the wine business.
“I decided I’d be happy with our 5,000 cases a year we sell from here,” she said. “I will never be rich, but I can lead a nice life here and enjoy what I do. It’s worked out very well in the long run.”
alsocancelation$10,000Biden$125,000wholeeligible tax
“It’s actually a very tedious and strenuous process – I think everybody envisions it as somebody stomping on grapes, and that’s not anywhere close,” Williams said. “Actually, cleaning is the biggest part of it. Keeping everything sterile and clean throughout the process is one of the biggest challenges. And you have to learn all the di erent varietals, the various regions where grapes are grown, and the di erent kinds of wine.
“ is man told me not too long ago that he used to tell everybody ‘ at woman is out of her mind,’ and now he realizes how wrong he was,” Weigle said. “He said he just wanted me to know that he admires what I’ve done.”
“Owing a winery is not the only way women can be involved,” she said. Distribution, sales and marketing are other segments of the industry where women are active, she said.
A taste of Spain
“ ere are lots of nuts and bolts to making wine.”
at hectic travel schedule was not for her. Plus, she said, it took her away too o en from the land in Little River that she loves best.
By Christina Lee Knauss cknauss@scbiznews.com
La Belle Amie Winery in Little River, owned by Vicki Weigle, is a pioneer in South Carolina’s wine industry and one of several woman-owned wineries in the state. (Photo/Provided)
What Weigle did was to convert elds on the tobacco farm that was her mother’s birthplace into vineyards of muscadine grapes that have now become a wide variety of wines she sells under the Twisted Sisters label. Each year La Belle Amie produces about 5,000 cases of wine. It also plays host to thousands of visitors who come to wine tastings, shop in the gi shop and enjoy live music twice a week.With her success at La Belle Amie, Weigle is part of a small but growing number of women nding success in the wine industry nationwide and in the Southeast. In South Carolina, a diverse group of women are getting involved in the industry at all levels, from winemaking to distribution.
Recently, one of those nay-sayers stopped by her thriving business, La Belle Amie Winery at 1120 St. Joseph Road in Little River, and admitted he was wrong.
12 www.gsabusiness.com September 19-October 2, 2022 In2022 | SO UTH CAROLINA MA NUFACTURIN G CONFERENCE AND EX PO GREENVILLE CONVENTION CENTER | GREENVILLE, SC To view the agenda and to register, visit www.scmanufacturingconference.com SAVE THE DATE: NOV. 3 - NOV. 4 Join Manufacturing suppliers and innovators across all industry verticals at South Carolina’s most significant manufacturing event of the year. The 2022 conference will include: • An exhibit hall the equivalent of three football fields • Implementing Industry 4.0 Technology • 2023 Economic Outlook: Auto, Aerospace, Biotech • Women in Manufacturing: Leaders and Influencers • SCMEP Manufacturing Excellence Awards • The South Carolina Manufacturing Extension Partnership (SCMEP) will conduct training courses PRESENTED BY: PRESENTING SPONSORS: For questions about exhibiting or sponsorship opportunities, please contact Rick Jenkins at (864) 720-1224 or rjenkins@scbiznews.com Visit scmanufacturingconference.com for the latest updates.
Staff Report
SC Realtors take on challenging times
See SC REALTORS, Page 15
STRONGER TOGETHER A HOWARD HANNA PARTNER Now Covering the Asheville/Mountain Region
ness of real estate, the transaction of real property, was still able to take place. Many states shut down their economy for weeks, even months. We worked with our local o cials to make sure deed recording o ces had the capacity to record deeds and mortgages. We worked with Gov. Henry McMaster and his team to ensure that real estate was declared as essential to theRealtorseconomy.know that in times of crisis, even a global pandemic, homeownership, the transfer of real property and basic
then taking off like a rocket before calming down somewhat. And now we have the uncertainty associated with rising interest rates. Would you call this thrill ride exhausting or exhilarating?
rom the time we first heard the word “coronavirus,” the real estate market responded first by coming to a complete (although brief) stop,
Just Got Better
From the start of the pandemic, Realtors were working with local, state and national o cials to make sure the busi-
A conversation with CindypresidentCreamer,of South Carolina Realtors
While the real estate market is cooling off compared to last year, experts say the demand-drive market is normalizing, though inflation, interest rates and inventory remain concerns. (Photo/File)
shelter is essential to the public good. ese last two years have been stressful, but the one thing that makes the hard work worthwhile is that Realtors have been the trusted advisers that have helped thousands of homeowners navigate this robust and challenging market.
19-October 2, 2022 LISTS: Real Estate Cos., Independent Insurance Agencies, Page 17In Focus RESIDENTIAL REAL ESTATE NEXT ISSUE’S FOCUS: Education and Workforce Development
Creamer
Where do you think the South Carolina market is now and what does it need to be healthy moving forward? e market in our state is normalizing.
F
14 www.gsabusiness.com September 19-October 2, 2022IN FOCUS: RESIDENTIAL REAL ESTATE
a challenge in finding vacant lots where cities and towns also have ordinances that allow that type of building.”
“Continue to improve your credit as much as you can and try to work with a Realtor who is knowledgeable about a particular market you’re interested in,” Smith said. “Also make sure you’re on the Realtor’s watch list for properties that come available so that if you get pre-approved by a lender and you find something you like, you can be ready to go on a sale right then.”
Buyers and renters find uneasy housing market
For buyers, home prices remain high while interest rates on mortgages are going up as the Federal Reserve has raised rates in an effort to slow inflation.Meawhile, unlike this time last year, sellers are not seeing their homes get snapped up as quickly in some parts of the state, with the amount of available inventory slowly rising in some areas while the number of buyers decreases, experts say.
The shortage and high cost of rentals is especially hard on lower-income renters, according to the new “Out of Reach Report” released in late July by the National Low Income Housing Coalition.According to the report, South Carolina is No. 28 in the nation for highest housing costs relative to income. The report shows that a minimum wage worker making $7.25 an hour
Builders interested in putting up rental units are also facing the ongoing challenge of higher supply costs when and if they do secure land where rentals can be built, Smith said.
Real estate agents say higher prices are holding in most areas, but it’s taking longer to find buyers for those houses. (Photo/Ross Norton)
Sellers in the Charleston area are facing a slightly longer wait times to sell their homes, with the days on market rising 18.8% in August to 19 days, the report said. The supply of inventory in the region also was up 33.3% to 1.6 months.Buyers in the region are facing challenges both because of the sales price increases and rising interest rates,
The seasons are changing in South Carolina and so are conditions on the residential real estate market, with recent statistics suggesting it is no longer exactly a buyer’s or seller’s market in many regions of the state.
“With the rise in interest rates and inflation, some of the buyers have dropped out of the market,” Smith said.
would have to work 91 hours a week to afford a modest one-bedroom rental home. According to the report, the state’s average housing wage is $19.30 an hour, which is the amount someone needs to earn to afford an average two-bedroom apartment at fair market rate without paying more than 30% of income for Accordinghousing.to Rentcafe.com, a nationwide apartment search website, the average monthly rental rate in the Charleston area is currently $1,873, with the highest average being downtown at $3,193 and the lowest in some of the perimeter neighborhoods at $1,421.Smith said the rise in rental rates is continuing because of a high demand for rental properties and a growing shortage of available land to build additional rental properties. The increasing number of renters comes both because of more people moving to the state as well as prospective home buyers forced to remain in rental properties because of a lack of affordable or available inventory.“Builders are having challenges finding places to build multi-family properties for rentals,” he said. “There’s
At the same time, many renters are having a hard time finding available and affordable space because of a lack of available rental units, and builders aren’t rushing to build new ones in some markets because of high building costs and difficulty finding property.
“It’s harder to buy and harder to rent right now than it was last year,” said John Smith, president of the Central Carolina Realtors Association. “That is something we’re seeing in the Midlands and also what we’re hearing from people in Greenville and Charleston as well. The market for sellers is still good, but some sellers are pulling back because the demand has dropped. In many cases, they’re not getting the prices for their home that they got back in March and April of this year.”
Prices for a new single-family home in the Charleston region continue to remain high, with the median sales price in the Charleston market rising 10.6% in August to $395,900 according to the August monthly report by the Charleston Trident Association of Realtors, which includes Berkeley, Dorchester, Charleston and Colleton counties.This follows a statewide trend, according to statistics compiled by the S.C. Association of Realtors, which indicates that median sales prices jumped 19.7% in the second quarter and 17.6% in July alone.
Meanwhile, the amount of new housing starts around the state is dropping because builders are facing such dramatic increases in construction costs, brought on both by inflation and lingering supply chain problems.
the report indicates. For August, the Charleston region’s housing affordability index fell to 72%, which means the median household income is 72% of what is necessary to qualify to buy a median-priced home under interest rates. In August 2021, the index was 103, a 12-month decline of 30.1%.
“It’s a double-edged sword with a shortage of availability of good places to build coupled with builders’ inability to build affordably,” he said.
Renters are also facing an uphill battle statewide as the number of available rental units shrinks, driving prices up.
While the real estate markets continue to sort themselves out, Smith said those looking to buy homes in the future can follow some old-fashioned advice that stands up no matter what market trends are: save as much money as possible for a down payment, show prospective lenders good credit, and find a good local real estate agent.
While they might get more for their home, it is taking sellers a longer time to make that sale.
By Christina Lee Knauss cknauss@scbiznews.com
I don’t think the fear of future mortgage rates increases will cause buyers to act, we’ve seen that bump already and buyers that need to buy will buy, but their buying power will be decreased.
-
row in all the other market factors we’ve discussed and you can see how dicult buying or selling a home can be in any market.Realtors are members of the National Association of Realtors, who are bound and held accountable by a code of ethics while helping their clients and customers navigate one of the most complicated and important transactions they will make in their lifetime.
What is the most signi cant challenge facing the residential real estate industry right now?
our infrastructure and exacerbates urban sprawl (tra c, congestion, etc.) We’ve got to nd solutions to address workforce housing because it is already a ecting our small businesses.
they?
e Federal Reserve indicated again on Aug. 9 that they will likely increase interest rates again, but it is not necessarily bad news. We’ve seen over the last few months that the mortgage rates don’t follow the interest rates on a point-by-point basis.
Why should someone use a professional — an agent or Realtor — when buying or selling a residence?
Life events require the transaction of real property — new job transfer, marriage, divorce, births, deaths, retirement, etc.
Is the potential for more interest rate hikes pushing potential buyers to take action?
SC REALTORS, from Page 13
I agree that we have become comfortable with historic low interest rates. e
rough local, state and national advocacy e orts, Realtors seek to preserve, protect and advance property rights for all.
When you work with a Realtor you work with a professional committed to safeguarding the rights of home buyers and sellers.
Do home buyers wait for market opportunities or do most buyers take action regardless of market conditions such as inventory and interest rates?
We’ve talked about the inventory levels being low but that doesn’t do justice to the problems it has caused in our local communities.All the factors we’ve talked about have led to escalating home prices, which has squeezed working class homeowners and homebuyers.Formany of our communities, those that serve our communities (police, teachers, rst responders, etc.) cannot a ord to live in the community they serve. ey are forced into long commutes which puts stress on
19-October 2, 2022 www.gsabusiness.com 15September 19-October 2, 2022 IN FOCUS: RESIDENTIAL REAL ESTATE 2022 Join SC Biz News in Columbia for a fast-paced countdown revealing the top 20 small and top 20 large high-growth companies in South Carolina. October 6, 2022
at
What do you wish everyone knew about residential real estate?
What needs to happen to keep a robust real estate market robust? e obvious answer is to keep the three I’s in check — grow the economy to keep in ation in check, stabilize interest rates and increase inventory. e other answer isn’t so obvious — our local and state leaders have to continue to focus on making South Carolina the best state to live, work and play in the country. Our strong industry, tourism and economic growth has not happened by accident — we have to continue to lead and SC Realtors will continue to advocate for economic growth that enhances the quality of life of our citizens.
Not as easy as it looks!
Have the low rates of recent years spoiled us into thinking 6% is outrageous? How long ago was 6% a pretty desirable interest rate?
Rick
50-year average is just below 8%. e market reacts and adapts as interest rates change.Remember, properties sold even when mortgages were over 16% in the early 1980s.e fact remains, however, that mortgages have almost doubled in the past year.
Buying a home, whether it’s your rst home or your retirement home, can be a very emotional process.
According to SC REALTOR market reports, we ended 2018 with a fourmonth inventory supply level, 2019 was 3.6 months, 2020 was 1.9 months, 2021 was 1.3 months and, as of the end of July in 2022, we’re at 1.9 months. While the data shows a 46% increase in inventory from a year ago, as you can see South Carolina is still well below historical averages and remarkably below the industry recognized six months of inventory (which most economists say is the average supply for a normal market). We haven’t seen six months of inventory since 2014.
Realtors adhere to a standard that requires equal professional service, because all properties should be open and feel welcome to at’sall.the Realtor di erence.
Cindy Creamer is president of the South Carolina Realtors. She is an agent with Dunes Real Estate in Hilton Head.
Most buyers buy when life events require them to buy. Investors try to take advantage of market conditions for the best returns, but the majority of buyers are dealing with transitional, emotional events in their life which makes working with a trusted adviser, their local Realtor, even more important.
• DoubleTree by Hilton Columbia For sponsorship information,
Inventory numbers are up from a year ago but let’s look at the numbers from the last few years for a better perspective.
5:30 p.m. 8:30 p.m. contact Jenkins 864.720.1224
Yes, it’s cooling o compared to 2020 and 2021, but it is still a demand-driven market, unlike the late 2000s when we were dealing with a supply-driven market. I believe we need more inventory at various price points, especially on the rst-time buyerWorkingside. class families are being squeezed by the three-eyed (I) monster — in ation, interest rates and inventory. Our National Association of Realtors reports that a typical home is almost 50% more expensive than just a year ago when you factor in the 3 I’s. Until interest rates stabilize and inventory increases to a ve-six month level (instead of a two-three month level).
It appears that the inventory numbers are up from a year ago when buyers were sometimes making desperate o ers. Are
or rjenkins@scbiznews.com Presented By: Sponsored By: Tickets: bit.ly/scbiz22roar20tix
Piper Glen is one of three Great Southern Homes communities under construction on S.C. Highway 187 in Pendleton. (Photo/Ross Norton)
One of the most highly visible homebuilders in the state is going public.
“For over 20 years I have worked to build GSH into the leading Southeast homebuilder it is today,” Nieri said in the news release. “I am excited for the next chapter for GSH, where through the combination of my operational expertise with David Hamamoto’s public company and capital markets experience, we plan to grow UHG into a national homebuilder. Our growth plans include both continued organic expansion as well as becoming a merger partner of choice for smaller regional homebuilders located in high-growth markets. Additionally, we are building out a programmatic, institutional build-to-rent platform, where our current product set and geographic footprint are well positioned to meet the demands of the strong and growing rental market for single family homes.”
e transaction values the combined company at a pro forma enterprise value of approximately $572 million, as of Dec. 31 of this year.
Report.DiamondHead is a special purpose acquisition company led by Co-CEO and Chairman David Hamamoto, who was the founder and chairman of the previously publicly-traded NorthStar real estate related companies: NorthStar Realty Finance Corp., NorthStar Asset Management Group Inc. and NorthStar Realty Europe Corp. He was a former partner at Goldman, Sachs & Co. and the co-founder of its Real Estate Principal Investment Group and Whitehall funds.
DiamondHead is co-sponsored by Antara Capital, an event-driven hedge fund founded by Himanshu Gulati.
Additional information about the proposed transaction, including an investor presentation, will be available online
GSH is one of the largest homebuilders in the Southeast. e company builds homes focused on the entry level buyers and those moving up for the rst time, the company says.
in cash proceeds, net of estimated transaction costs, to the combined company including a $25 million commitment to purchase and not redeem DHHC public shares from the DHHC sponsor group, including Hamamoto and Antara Capital, the news release predicted.
e boards of directors of GSH and DHHC have approved the transaction. e transaction is expected to close during the rst quarter of 2023.
Zelman Partners is acting as exclusive mergers and acquisition adviser to DiamondHead. Sullivan & Cromwell LLP is acting as counsel to DHHC.
By Ross Norton rnorton@scbiznews.com
Founded by Michael Nieri, Great Southern Homes and its predecessors have have built more than 11,000 homes. Population growth and single-family starts in the company’s Georgia and S.C. markets have outpaced the national average since 2017, the news release
Great Southern Homes to become public company
Great Southern Homes of Irmo, with building projects — most of them large housing developments — throughout South Carolina and some in Georgia, announced Sept. 12 that it has entered an agreement with DiamondHead Holdings Corp., a special purpose acquisition company.
pointed out.
“We believe there continues to be a massive undersupply of single-family homes in the U.S., especially in starter and rst move-up products which will result in signi cant demand for the foreseeable future,” he said in the release. “In addition, as Michael mentioned, we believe there are extremely compelling opportunities to generate accretive growth through M&A as well as a programmatic build-to-rent platform.”As part of the transaction, all of GSH’s existing shareholders will roll 100% of their shares into shares of the combined company and, assuming no redemptions from DHHC public shareholders, will hold approximately 51% of the shares of the combined company on closing, the release said.
Hamamoto said the company will help alleviate a shortage of homes.
Assuming no redemptions from DHHC shareholders, the transaction will deliver approximately $320 million
When the transaction is completed, Great Southern Homes will become a publicly traded company, and DiamondHead Holdings Corp. will be renamed United Homes Group Inc., according to a news release. DiamondHead is expected to remain listed on the Nasdaq Capital Market and is expected to trade under the new ticker symbol “UHG.”
16 www.gsabusiness.com September 19-October 2, 2022IN FOCUS: RESIDENTIAL REAL ESTATE
GSH plans to employ a capital-ecient “land-light” operating model that it expects to generate higher returns with lower cyclical risk compared to traditional homebuilding operating models, the news release said. e land-light approach allows the company to control land supply primarily through lot option contracts versus carrying lot inventory on-balance sheet. rough organic growth, GSH has become the 25th ranked starter-home builder and the 41st ranked single-family detached home builder in the United States, respectively, based on 2021 home closings, according to Pro Builder’s 2022 Housing Giants
BTIG LLC is acting as exclusive sellside adviser to Great Southern Homes. Nelson Mullins Riley & Scarborough LLP is acting as counsel.
Focus Realty - Eric Newton & Associates 559 Old Greenville Highway Clemson, SC 29631 ericnewton.com864-722-9062
2019
Greenville Area
/ Current No. of Listings Upstate Offices / Residential Agents
Ranked by $ Value Sales the
Seabrook L. Marchant, Laura Marchant Williams 1993 $154,605,55655 352
$49,848,26620 181
Berkshire Hathaway HomeSer vices C. Dan Joyner, Realtors 1016 Woods Crossing Road Greenville, SC 29607 info@cdanjowww864-242-6650.cdanjoyner.comyner.com
21 Top Guns Realty Inc. 15481 N. Highway 11 Salem, SC 29671 mawww800-682-9098.lakekeoweerealestateexpert.comttroach@topgunsrealty.com
Marchant Real Estate 100 W. Stone Ave. Greenville, SC 29609 info@marchantco.comwww864-467-0085.marchantco.com
Jeff Cook Real Estate 30 Orchard Park Drive, Suite 16 Greenville SC 29615 info@jeffcookrealestawww843-225-2002.jeffcookrealestate.comte.com
Matt 1998Roach
Website / Email
Jeff Richardson Co. 3706 E. North St. Greenville, SC 29611 www864-962-1750.jeffrichardsoncompany.comrrealestcm@aol.com
Top (2021)
Wetzel Realty 511 Pettigru St. Greenville SC 29601 www864-286-1177.wetzelser realty@wetzelservices.comvices.com
Accelerate Real Estate & Property Management 913 Pelham Road Greenville, SC 29615 michael@pmiaccelerawww864-920-0999.propertymanagementinc.com/pmi-acceleratete.com
$1,750,0005
Stan 1988McAlister $111,521,52973 151
Kris 2003McDonagh
Residential Real Estate Companies
Craig Bailey 1975 $101,000,00062 622
Re/Max Moves 100 Batesville Road, Suite C Simpsonville, SC 29681 ckeegan@greenvillemoves.comwww862-520-1000.greenvillemoves.com
Neil 2007Monaghan
Patty Korahais 2005
Darrell Gibbs 1994 $45,260,5617 61
Caroline 1926MahaffeyRichardson
Ernie Truman 2014 $67,410,83634 311
Jeff 1973Buice $28,300,00030 81
Company
Marcus Wondracek 2010 $58,806,2196 221
Sharon P Wilson 2014 $300,738,67241 281
David Crigler Danny 1964Joyner
Wilson Associates Real Estate 213 E. Broad St. Greenville SC 29601 info@wilsonassociawww864-640-8700.wilsonassociates.nettes.net
19-October 2, 2022 www.gsabusiness.com 17September 19-October 2, 2022 IN FOCUS: RESIDENTIAL REAL ESTATE
Keller Williams Realty 117 John B. White Blvd., Suite E Spartanburg SC 29301 www864-574-6000.kwcarolina.compattyk@kw.com
of Residential
Gibbs Realty & Auction Co. Inc. 4891 S.C. Highway 153 Easley, SC 29642 darrell@gibbsrealtywww864-295-3333.gibbsrealty.com.net
$7,900,8351 31
in 2021 in
Joy Real Estate Co. Inc. 309 E. Butler Road Mauldin, SC 29662 hello@jowww864-297-3111.joyrealestate.comyrealestate.com
Local Official(s) / Year Founded Sales Volume
McAlister Realty 955 W. Wade Hampton Blvd., Suite 9B Greer, SC 29650 www864-292-0400.builderpeople.comstan@builderpeople.com
Del-Co Realty Group 2507 Wade Hampton Blvd. Greenville, SC 29615 lisa@delcorealtywww894-292-3333.delcorealty.com.com
Cameron Keegan 2013 $135,230,01545 353
$1,136,185,614349 4102
2009 $20,103,79818 41
Phone /
Wondracek Realty Group 101 Regency Commons Drive, Suite A Greer, SC 29650 www864-907-2792.selling-greenville.commarcus@selling-greenville.com
Lisa D. Alexander 1975 $27,409,9576 261
Monaghan Co. Real Estate 422 College Ave. Clemson, SC 29631 www864-639-1188.monaghan-co.comneil@monaghan-co.com
$64,200,00010 351
$1,739,000,000452 39210
$977 31 Allen & Assoc. 2117 Boiling Springs Road Boiling Springs, SC 29316 dawww864-921-2920.soldallen.comvid@soldallen.com David Allen 2002 22 51 Showcase Realty Group 11068 Asheville Highway, Suite B12 Inman, SC 29349 mark@autorino.com864-708-3343 Mark L. Autorino 2003 11 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 ever y effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to research@scbiznews.com. Researched by Paige Wills
Michael Lee
Carolina Moves Real Estate 455 Congaree Road Greenville, SC 29607 team@carolinamoves.comwww864-448-1234.carolinamoves.com
Buice Realty Inc. 718 E. Frederick St. Gaffney, SC 29340 jfbuice@mindspring.comwww864-489-7194.buicerealty.com
Paul Wetzel, Jacki Jesch 2004
$2,325,0001 31
McGriff 47 Airpark Court Greenville, SC 29607 www.mcgriff.com864-297-4444
Michael Small Insurance Agency 305 W. Main St. Taylors, SC 864-244-180029687
AssuredPartners 55 Beattie Place, Suite 910 Greenville, SC 29601 www.assuredpartners.com864-527-0424
Arthurs Insurance & Risk Management Services LLC 601 Roper Creek Drive Greenville, SC 29615
Correll Insurance Group 1066 Asheville Highway Spartanburg, SC 29303
Carolina’s Choice Insurance Agency 858 E. Main Spartanburg,St.SC 29302
Palmetto Choice Insurance Agency 970 Howard Spartanburg,St.SC 29303 www.palmettochoice.com864-707-1234
Byrd-McLellan Agency Inc. 207 N. Townville St. Seneca, SC 29678
Heaton Insurance Agency 1206 Laurens Road Greenville, SC 29607
Integrated Insurance Advisors LLC 975 Nantahala Drive Chesnee, SC 29323
Field Insurance Agency Inc. 323 Main St. Seneca, SC 29678
Lawrence & Brownlee-Roberts 1807 N. www.lbinsurance.com864-225-8222Anderson,BoulevardSC29621
In the Upstate, Listed Alphabetically
First Choice Insurance Agency 503 Old Boiling Springs Road Greer, SC 29650
Insurance Agency of the Foothills 10873 Clemson Blvd., Suite 111E Seneca, SC 29678
Elite Insurance 2611 Wade Hampton Blvd. Greenville, SC 29615
Countybanc Insurance Inc. 3431 Pelham Road Greenville, SC 29615
18 www.gsabusiness.com September 19-October 2, 2022IN FOCUS: RESIDENTIAL REAL ESTATE
George Johnson Insurance 314 S. Pine St., Building 300 Spartanburg, SC 29302 www.georgejohnsonins.com864-585-2256
Cooper Chapman Insurance 12 Center St. Travelers Rest, SC 29690
Citizens Trust Co. 114 Montague Ave. Greenwood, SC 29649
Hill Insurance & Financial Services 100 Laurens Road Greenville, SC 29602
The Peoples Agency 3901 Clemson Blvd. Anderson, SC 29607 www.thepeoplesagency.com864-224-7444
Palmetto Insurance 208 Keowee Trail Clemson, SC www.palmettoinsurance.com864-654-122029631
Patrick Clark Agency 12 Davis Keats Drive Greenville, SC 29607 864-627-3131
Anderson Insurance Associates of Greenville 105 Port Royal Drive Greenville, SC 29615
Clemson Insurance Inc. 1500 W. Main St. Central, SC 29630
General Insurance Services 201 Garvin St. Pickens, SC 29671
KeenanSuggs/HUB International 55 E. Camperdown Way, Suite 350 Greenville, SC 29601 www.hubinternational.com803-799-5533
Marcengill Insurance Agency Inc. 719 W. North 1st St. Seneca, SC www.iiaa.org/agency/JBMIAI/29678
CWS Insurance Agency Inc. 435 E. Kennedy St. Spartanburg, SC 29302
David A. Crotts & Associates 422 Montague Ave., Suite 7 Greenwood, SC 29649
Grayson Thomas Agency Inc. 4501 Old Spartanburg Road, Suite Taylors,12 SC 29687
The Bright Agency Inc. 775 Spartan Blvd., Suite 106 Spartanburg, SC 29301 www.brightagencyinc.com864-249-7099
Fowler Preferred Insurance 305 Nelson Drive Anderson, SC 29621
Chandler Insurance LLC 129 Woodruff Place Circle Simpsonville, SC 29681
Capstone Insurance, Marsh & McLennan Agency 870 S. Pleasantburg Drive Greenville, SC 29607 www.capstoneinsurance.com864-672-8572
Edwards Insurance Agency Inc. 4 E. Lee Road Taylors, SC 29687
Abercrombie Insurance Agency 212 S. Main St. Fountain Inn, SC 29644
Assure Alliance 291 S. Pine Spartanburg,St.SC 29302
Marsh & McLennan Agency LLC 870 S. Pleasantburg Drive Greenville, SC 29607 www.marshmma.com864-271-6336
Law Insurance Agency 708 E. Main Spartanburg,St.SC 29302 www.lawinsuranceagency.com864-582-2334
The Furman Co. Insurance Agency 703 E. North St. Greenville, SC 29601 www.relationinsurance.com864-242-5151
Advisors Insurance Agency 494 Garlington Road Greenville, SC 29615
Kenneth Rhodes & Associates 110 Mills Greenville,Ave.SC 29605
Anchora Insurance Services LLC 1204 E. Washington St., Suite A Greenville, SC 29601
Landrum Insurance Agency Inc. 104 S. Shamrock Ave. Landrum, SC 29356 864-457-3328
Owens Insurance Agency Inc. 408 W. Poinsett St. Greer, SC www.trustowens.com864-877-845629650
Legacy Risk Solutions 2315 N. Main St., Suite 100 Anderson, SC 29622 864-328-1442
J. Freeman & Associates Inc. 8 Pelham www.j-freeman.com864-331-4400Greenville,RoadSC29615
J.B. Watts Co. Inc. 516 Pettigru St. Greenville, SC 29601
Independent Insurance Agencies
The Morgano Agency 206B Pine Knoll Drive Greenville, SC 29609 www.morganoagency.com864-609-5285
Fika Insurance Group LLC 1303 Montague Ave. Ext. Greenwood, SC 29649
Oak Insurance Services LLC 218 S. Main St., Suite B Fountain Inn, SC 29644 www.oakinsuranceservices.com864-518-1510
Mabry Sanders Agency Inc. 328 Main Greenwood,St. SC 29646 864-229-3814
MacDowell Insurance Agency 106 W. Frederick St. Gaffney, SC 864-491-171229340
OneGroup Insurance 389 E. Henry St. Spartanburg, SC 29302 864-992-7695
Citizens Insurance Agency Inc. 1707 N. Main St. Anderson, SC 29621 www.citizensinsuranceagency.net864-226-0354
Culp Insurance 508 SE Main Simpsonville,St.SC 29681
The Briles Co. 700 N. Pleasantburg Drive Greenville, SC 29607 www.brilesco.com864-236-0800
Daniel & Co. 269 Ann St. Pickens, SC 29671
Signal Insurance Group LLC 669 N. Academy St. Greenville, SC 29601 www.signalins.com864-271-1098
Roberts Insurance Agency LLC 4136 Clemson Road Anderson, SC 29623 864-226-8544
Security First Insurance 241 Justice Road Buffalo, SC www.mypropertyiscovered.com407-797-010229321
The United Agency 210 Hillcrest Drive Laurens, SC 864-984-454829360
Powdersville Insurance Agency 209 Siloam Road Easley, SC www.powdersvilleins.com864-295-244229642
Upstate Insurance Consultants 301 N. Broad St., Suite A Clinton, SC 864-833-302329325
19-October 2, 2022 www.gsabusiness.com 19September 19-October 2, 2022 IN FOCUS: RESIDENTIAL REAL ESTATE
South Carolina Federal Insurance Solutions 1598 Sandifer Blvd., Suite F Seneca, SC www.scfinsurance.org864-886-878629678
Wickliffe Insurance Services Inc. 406 SE Main Simpsonville,St.SC 29681 www.wickliffeinsurance.com864-967-4755
Upstate Insurance Agency Inc. 106 Cater Anderson,St.SC 29622 www.upstateinsurance.com864-226-9126
2022 | SOUTH CAROLINA MA NUFACTURING CONFERENCE AND EX PO GREENVILLE CONVENTION CENTER | GREENVILLE, SC To view the agenda and to register, visit www.scmanufacturingconference.com SAVE THE DATE: NOV. 3 - NOV. 4 • An exhibit hall the equivalent of three football fields • Implementing Industry 4.0 Technology • 2023 Economic Outlook: Auto, Aerospace, Biotech • Women in Manufacturing: Leaders and Influencers • SCMEP Manufacturing Excellence Awards • The South Carolina Manufacturing Extension Partnership (SCMEP) will conduct training courses PRESENTED BY: For questions about exhibiting or sponsorship opportunities, please contact Rick Jenkins at rjenkins@scbiznews. com or call (864) 720-1224 Visit scmanufacturingconference.com for the latest updates. Join Manufacturing suppliers and innovators across all industry verticals at South Carolina’s most significant manufacturing event of the year. The 2022 conference will include: PRESENTING SPONSORS:
Snyder Insurance Agency 11019 Anderson Road Piedmont, SC 29673 www.snyder-insurance.com864-295-2952
Worth Mason Insurance Agency Inc. 408 S. Highway 29 Anderson, SC 29622 864-222-2320
Because of space constraints, sometimes only the top-ranked companies are published in the print edition. Although every effort is made to ensure accuracy, errorssometimes occur. Email additions or corrections to research@scbiznews. com. Source: Independent Insurance Agents & Brokers of South Carolina. Researched by Paige Wills
836 Powdersville Road, Suite C Greenville, SC 29609 www.poinsettgeneral.com864-271-4630
TWIA Insurance Agency 330 E. Coffee St. Greenville, SC 29601 www.twiainsurance.com843-521-4000
Premier Insurance Consultants LLC
Select Insurance Services 1252 Overbrook Drive, Suite 15
Shared Alliance Insurance Inc. 110 Edinburgh Court, Suite A Greenville, SC 29607 www.sharedalliance.com864-609-5550
USI Insurance Services 1000 E. North St. Greenville, SC 29601 864-232-5162
Gaffney, SC www.selectinsuranceservice.com864-487-558429341
3900 S. Highway 14, Suite 1A Greenville, SC 29615 www.premierins.net864-213-9100
World Insurance Associates LLC 1807 N. 864-226-2229Anderson,BoulevardSC29621
R. Carl Byars Agency Inc. 129 E. First Ave. Easley, SC www.byarsagency.com864-859-409129641
South Carolina Insurance Brokers 84 Villa Road, Suite 200 Greenville, SC 29615 www.scinsbrokers.com864-240-7387
www.southerninsured.com
Southern Insurance Group 301 Rutherford St. Greenville, SC 29609 864-626-6181
Watson Insurance Agency Inc. 102 N. Alabama St. Chesnee, SC www.watsonagency.net864-461-220429323
Stokes-Farnham Insurance Agency 6514 State Park Road, Suite A Travelers Rest, SC 29690 www.stokesfarnham.com864-834-7206
Poinsett General Insurance Agency Inc.
Turner Agency Insurance Inc. 623 Halton Road Greenville, SC 29607 www.turneragencyinc.com864-288-9513
T
board of directors and SCEDA members from across South Carolina are excited to welcome Beacon Association Management into our SCEDA family,” Baltzegar said in the release. “They have a rich history of successfully leading organizations on the executive and administrative fronts. We look forward to working side by side as we focus on casting a vision for our future.”
“I’m grateful to start a new chapter in my career and take on this new challenge,” Jonas said. “This position is a perfect fit, fusing my passion for economic developments, sustainability and strengthening relationships.”Jonas holds a political science degree from Presbyterian College and a master’s degree in public administration from the University of South Carolina.
Jonas has nearly 30 years in the public and private sectors with experience in real estate, health and insurance and finance. He served as director of the S.C. Board of Long Term Health Care Administrators, was a budget analyst for the S.C. House of Representatives’ Ways and Means Committee, and was special assistant to the president of Trident Technical College.
e name recognizes the Wood family’s ties to the building, which became a community hub when built by B.F. Neves in 1864. e building at 7850 North Tigerville Road, which NGU purchased from Willie Wood in 2007, was restored and reopened in 2012 as Tigerville General Store. is summer, the building was remodeled to accommodate the new campus store and serve as the NGU post o ce facility.
Five team members will work closely with SCEDA in support of Koon, who has experience serving as executive director for various trade and professional associations, the
Staff Report
rent Jonas has been hired as the first COO of Sustain SC, an economic development organization dedicated to connecting the sustainability goals of businesses around the state with local solutions for the benefit of the economy, environment and residents.
Koon replaces Andrea “Andi” Rawl. In June, the S.C. Manufacturers Alliance hired Lexington-native Rawl as executive director of the S.C. Automotive Council.
Stevens Aerospace and Defense Systems LLC said it completed the rst fully integrated U.S. Army King Air C-12U/ B200C G1000NXi installation at its Greenville facility. e prototype is the rst of 10 King Air C-12U G1000NXi installations awarded to Stevens, the company said. Along with the G1000NXi, the aircra will receive a full paint and interior refurbishment. As part of the project, Stevens will also provide familiarization training for the U.S. Army’s pilots prior to delivery in Stevens’ full-sized King Air cockpit simulator located at the installation center.
he South Carolina Economic Developers’ Association has named a new executive director and an agency to lead the statewideBeaconorganization.Association Management will lead SCEDA in day-to-day operations including the execution of large events and coordinating membership meetings, according to a SCEDA news release. In addition, it will guide the board through strategic planning, and provide comprehensive metrics and reports to evaluate and continue the planning process for the future, the release stated.Also, Katie Koon, CEO of Beacon Association Management, will serve as the new executive director of SCEDA, according to the release.
“Thefirm.SCEDA
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tainability support to our new and existing stakeholders.”
Carolina Handling said it donated a Raymond electric, sit-down counterbalanced li truck to Greenville Technical College to support training opportunities in the college’s industrial, manufacturing and trades department. Carolina Handling said it is the exclusive Raymond Solutions and Support Center for the Carolinas, Georgia, Alabama and Florida’s Central time zone territory.
The Well to show more Hispanic acts e Bon Secours Wellness Arena in downtown Greenville announced a mission to showcase Hispanic acts and bring more diverse programming. “ e Well” said it is working with Zamora Live, an entertainment, media, and marketing agency, to help ful ll the mission. e arena had the Los Tigres del Norte’s La Reunión Tour on Sept. 10. e Norteño band hails from Rosa Morada of Sinaloa in Mexico.
The G1000 Cockpit for the U.S. Army completed by Stevens Aerospace & Defense Systems.
gsanews@scbiznews.com
CommunityWorks said it opened the CommunityWorks Learning Center at the Jud Hub, a shared work space in Greenville’s Judson Mill District. e Learning Center is a collaborative space for training for entrepreneurs and community partners. CommunityWorks provided $500,000 for the mill’s acquisition and an additional $500,000 to the Jud Hub’s development.
release stated. Those experiences include leading Community College Business Officers, the South Carolina Aviation Association and the South Carolina Association of Heating and Air Conditioning Contractors, according to Koon’s LinkedIn profile.She holds the Certified Association Executive credential, awarded by the American Society of Association Executives, which is the highest professional credential in the association industry, according to the release. She has a bachelor’s degree from the University of South Carolina, according to LinkedIn.
By Christina Lee Knauss cknauss@scbiznews.com
Jonas, who started work today, is an experienced economic development strategist who most recently was director of stakeholder relations for the Charleston Regional Development Alliance, according to a news“Werelease.arethrilled to have Brent join our team and take on this new role,” said Ethel Bunch, president and CEO of Sustain SC. “It marks a new chapter for Sustain SC. Brent’s diverse background will play a major part in our continued efforts by growing our membership and providing sus-
Jonas named COO of Sustain SC
Business Digest At Work BUSINESS DIGEST | PEOPLE IN THE NEWS
Carolina Handling donates forklift
Wood’s General Store: Front left, Helen Wood, Willie Wood, Bobby Wood and Laura Messer Wood.
General Store to Wood’s General Store.
Carolina Handling associates present a Raymond forklift to Greenville Tech students, faculty and staff.
SCEDA names new executive director
SCEDA board President Marty Baltzegar led the board’s search in naming a new association management
Stevens completes prototype cockpit
Tigerville General Store renamed North Greenville University said it renamed the 168-year-old Tigerville
CommunityWorks Learning Center opens
Reach Christina Lee Knauss at 803-753-4327.
NGU cuts certificate tuition cost North Greenville University (NGU) said it reduced its certi cate tuition from $350 to $295 per credit hour. Bachelor’s certi cates are building blocks for associate-, bachelor- and master-level degree programs. A er nishing a certi cate, students can apply the credits earned to a certi cate’s subsequent degree programs. Certi cates are available in business leadership, business management, church planting and revitalization, early childhood education, marketing and missions.
Talley
Graham Talley joined UCW Logistics as a process engineer. He previously worked at Michelin NA.
www.gsabusiness.com 21September 19-October 2, 2022
ScanSource Inc. appointed Alex Conde to chief people officer. Conde previously served as president of ScanSource Brazil. in the
Southern First Bancshares Inc., hold-
“Helping everyone to ourish in STEM disciplines is my goal,” she said in a news release. “Some groups have historically ourished, not everybody individually, but as a whole, and other groups have found closed doors and glass ceilings. I’m big into removing barriers that prevent people from ourishing — not giving people handouts or having quotas but removing barriers so that everyone can participate in the scienti c Sather-Wagstaenterprise.”
REAL ESTATE
gsanews@scbiznews.com
Math professor to serve stint with NSF
TECHNOLOGY
Ogletree Deakins named David Zimbrick CFO. Zimbrick brings more than three decades of nancial experience, most recently as the CFO for international law rm Steptoe.
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Scott
Calhoun
People
trains faculty to recognize implicit bias and learn strategies to better support women students, faculty and sta . Sather-Wagsta is the outgoing chair of the university’s LGBTQ Commission.
Coldwell Banker Caine hired Keira Heider as marketing manager. Heider has experience managing and developing marketing teams, most recently in community and thattorsC.wayBerkshiredevelopment.economicHatha-HomeServicesDanJoynerReal-announced
Sunland Logistics Solutions hired Melissa Scott as vice president of information technology. Scott served in the U.S. Air Force and has nearly 20 years of IT and project management experience.
TacMed Solutions hired Don Smith as director of marketing. Smith previously worked at Family Dollar stores as vice president of marketing.
eri Sather-Wagstaff will spend the next three years in Alexandria, Va., working as a program officer in the National Science Foundation’s Directorate for Education and Human Resources’ Division of Human Resource Development to promote diversity, equity and inclusion in science, technology, engineering and mathematics. As a program officer, Sather-Wagstaff will convene review panels and make funding recommendations to the Sather-WagstaNSF. said she believes everybody should have the chance to succeed in the STEM elds.
LaughridgeScearceBellKeatonShealy
SimmonsVaughanMcGee
“In some ways, this is my dream job,” she explained. Events of the past two years have made the work for urgent for Sather-Wagsta . She referenced both the COVID-19 pandemic — disruptions to school and childcare led to negative career impacts for some faculty — as well as major incidents like the murder of George Floyd as catalysts for the urgency. “I love teaching, but it’s time to prioritize another aspect of the profession.”Shewillwork on two project teams: NSF Advance, which supports systemic change projects to enhance gender equity and inclusion for STEM faculty, and Alliances for Graduate Education and the Professoriate, which works to increase the number of historically underrepresented minority faculty in STEM.“ere’s a basic human desire for justice and equity that motivates a lot of what I do,” she said. “But from a more pragmatic point of view, if you’re trying to cure cancer, world hunger or a global pandemic, then making sure all the voices that could contribute are engaged in the process is important.”
BANKING & FINANCE
is a professor in the School of Mathematical and Statistical Sciences in the Clemson University College of Science. During her seven years on the faculty, she worked with the Tigers Advance program, which aims to improve gender and racial equity at the university. Most recently, she led the Tigers Advocates program, which
Countybank announced that Lori Bell, Brandon Calhoun, Sherri Scearce and Rich Vaughan have been appointed vice president. Joe Keaton and Heather McGee have been appointed assistant vice president, and Shelley Shealy and Julia Simmons have been appointed banking officers by the Countybank board of directors. Bell is mortgage operations and support team manager. Calhoun is mortgage sales manager. Scearce is SBA administrative manager. Vaughan is mortgage loan originator. Keaton is senior mortgage underwriter. McGee is mortgage compliance manager. Shealy and Simmons are financial center team leads for Countybank’s downtown Greenville and Greer financial centers, respectively.First Reliance Bank promoted Chris Laughridge to market president in bankingofmoreLaughridgeGreenville.hasthan19yearsexperienceintheindustry.
Keri Sather-Wagstaff plans to return to Clemson after three years with NSF. (Photo/Clemson University)
On the national level, Sather-Wagsta participates in the American Mathematical Society, the Association for Women in Mathematics and SPECTRA, the national association for LGBT+ mathematicians.
Brandon Laass joined the ascommercialcompany’sdivisionasalesassociate.ColdwellBankerCainehired Jacob Morgan as IT manager. Morgan most recently worked at Crossroads Treatment Center and VOW Inc. as an IT help desk technician.
LAW
ing company for Southern First Bank, announced the appointment of Cal Hurst to president. Hurst has served as chief banking o cer and executive vice president since 2019.
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Staff Report
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Her leadership has helped provide clean water to Haiti’s Central Plateau, make campus more accessible to people with physical impairments, and provide
22 www.gsabusiness.com September 19-October 2, 2022
Staff Report gsanews@scbiznews.com
e research is particularly suited to address the DOE’s Hydrogen Shot Initiative, which seeks to reduce the cost of clean hydrogen by 80% to $1 per kilogram in the next decade, and unlock new markets for hydrogen, according to the release.
opportunities for underrepresented students to pursue advanced degrees.
Clemson President Jim Clements congratulated Ogle on her promotion.
Clemson engineering names new chair
Jennifer Ogle has been the department’s acting chair since February, and her promotion removes makes the job permanent. She will lead a department with 498 students, 27 faculty members, and 12 sta members, according to a newsOgle,release.who was the rst woman to achieve tenure in the department and is now a professor, has used her position to help people who need it most, while creating pathways for those who want to follow in her footsteps, the news release said. She said her lived experiences give her a unique perspective and desire to help others succeed.
board. She credited the experience with motivating her to pursue her new job as department chair and honing her leadership principles.
Savannah River National Laboratory has received a $3 million award from the Department of Energy to promote research into developing new clean energy technologies.
Ogle
The
Ogle also has been key in rolling out a curriculum that gives civil engineering students a chance to begin hands-on projects as sophomores instead of waiting until senior year. e approach is aimed at helping students retain what they learn and is funded with $2 million from the National memberpastlow2017,atershipPresident’sinvolvedFoundation.ScienceOglehasbeenwiththeLead-InstituteClemsonsincerstasafel-andforthethreeyearsasaofitsadvisory
Garza, who vacated his position as chair to become director of the new school. She served as associate chair under de la Garza for a year and a half before becoming acting chair.
“I have worked side-by-side with Jennifer since joining Clemson, and it has been a privilege,” de la Garza said in the release. “Her vision encompasses what’s best for both students and society. Jennifer’s leadership will be key in taking the department to the next higher ground and successfully launching the new school.”Ogle received a Bachelor of Science and a Master of Science, both in civil and environmental engineering, from the University of Tennessee, Knoxville. She held a research position at Oak Ridge National Laboratory during graduate school.Shehas worked as a research associate at the Texas A&M Transportation Institute. She then went to the Georgia Institute of Technology’s School of Civil and Environmental Engineering, where she worked as a research engineer and principal investigator of multi-million-dollar research projects, all while earning her Ph.D.She joined Clemson in 2005 as an assistant professor.
Savannah River lab receives $3M for clean energy research
By Christina Lee Knauss cknauss@scbiznews.com
Reach Christina Lee Knauss at 803-753-4327.
e collaborative research e ort will be led by Patrick Ward, a researcher at Savannah River National Laboratory, Yury Gogotsi of Drexel University, Kah Chun Lau from California State University Northridge and Paul Weiss from the University of California Los Angeles.
Savannah River National Laboratory is a DOE multi-program research and development center managed and operated by Battelle Savannah River Alliance LLC.
can contribute their strengths to achieve collective e ciency.”
e award comes from the DOE’s O ce of Science Basic Energy Science program and will be used for research into new pathways for hydrogen storage and production technologies, according to a news release.
new leader of the Glenn Department of Civil Engineering at Clemson University is a first-generation college graduate who has become an accomplished researcher and one of the university’s most passionate advocates for individuals experiencing marginalization in multiple forms.
“I would describe my style as servant-leader,” she said in the news release. “I see leadership not as a title or position but as the act of supporting a team as it seeks to move from its present state of achievement to the next level. We currently have a vision, mission and strategic plan we co-created. I see my role as helping everyone understand how they
e department Ogle leads recently joined with the Department of Environmental Engineering and Earth Sciences to form the School of Civil and Environmental Engineering and Earth Sciences, a move intended to provide strategic advantages in pursuit of funding and top students.Oneof her top priorities will be to grow the department’s research enterprise, which will aid recruiting graduate students and establish a network of research professionals, she said. She is also working to update the labs in Lowry Hall, one of the top priorities of the department’s advisory board, faculty, students and alumni.
Savannah River National Laboratory has received a $3 million award to promote clean energy research, including new pathways for hydrogen storage. (Photo/File)
“It has been a joy to get to know Jennifer through the President’s Leadership Institute and to watch her continue to grow as a leader,” he said in the release. “She is an accomplished scholar and a passionate servant who has worked hard to provide opportunities for those underrepresented in STEM. Jennifer is well positioned to take on this next challenge as department chair.”
e award is part of DOE’s recent announcement that it was awarding $540 million to universities and national laboratories to further research into clean energy technologies and low-carbon manufacturing.eresearch at Savannah River will focus on providing greater insight into the surface characteristics that promote the dissociation and recombination of hydrogen on a material surface, as well as the behavior of subsurface hydrogen species.
e objective is to provide an in-depth analysis of the interactions between MXenes, a two-dimensional ceramic material, and hydrogen, the news release said. Researchers will also look at how external stimuli can be used to ne-tune the interaction.
The
Ogle takes the place of Jesus M. de la
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slow the economy and bring the in ation rate back to the 2.0% mark. at is because the Fed needs the funds rate to be higher than the in ation rate. Its own quarterly forecasts tell you that is the case. In the longer run, the Fed believes that the funds rate needs to be 2.5% to be consistent with a 2.0% in ation rate — i.e., it needs a positive real funds rate of 0.5%. Even if it raises the funds rate to a range of 3.0-3.25% later this month, that will not be the case. e in ation rate is somewhere between 4.5-6.5%. Rates will continue to climb until such time as the real funds rate becomes positive.
Email: rnorton@scbiznews.com
Fed will raise rates at its meeting later this month. Most likely is an increase of 0.75%. But whatever happens, interest rates will climb significantly higher in the months ahead. The Fed has told us that. Pay attention!
We expect GDP growth of 1.5-2.0% in the second half of this year, which is roughly in line with the economy’s estimated potential growth rate of 1.8%. e economy has slowed, but not enough to bring in ation down to the 2.0% mark. Arguably, the Fed needs a recession to make that happen.
It is tempting to look at the 0.2% increase in the unemployment rate in August to 3.7% as a sign of emerging weakness in the labor market. at would be a serious mistake. It came about because the labor force surged by 786,000 in that month. e economy created 442,000 jobs. e remaining 344,000 have not yet found jobs.
But at every step of the way — from the sample to the universe and then to seasonal adjustment — there is error. Do not ever rely on any single indicator as evidence of truth. To determine what is happening in the labor market, look at payroll employment, civilian employment, the unemployment rate, initial unemployment claims, the ADP employment report, the employment
from the CPI, the PPI, and the PCE de ator are all at least double the Fed’s 2.0% target. But there are hints that the in ation rate is slowing.Commodity prices have fallen in the past couple of months. at will help. But keep in mind that labor costs represent about two-thirds of any rm’s overall cost and they are not included here. Wages seem to be rising rapidly. Some economists have noted that average hourly earnings rose 0.3% in August. at is slower than in other recent months. However, average hourly earnings have risen 5.2% in the past year. But the Atlanta Fed’s “wage tracker” has risen 6.7%. at is far more troublesome. So which to believe? If you are the Fed, you want to see a slowdown in wages, but a single month of data for average hourly earnings is not going to convince it that anything has changed. e preponderance of evidence suggests that wages are rising far more rapidly than is consistent with a 2.0% in ation rate.
For example, the employment data surge in the months leading up to Christmas and then decline sharply in the rst couple of months of the following year. Similarly, when school lets out in May, teaching jobs decline, but teachers return to work a couple of months later. To publish dramatic changes in employment in those months makes no sense, so the Census Bureau adjusts the data for what typically happens in those months.
People seem surprised when the Fed says that rates must move signi cantly higher to
Write: Ross Norton, Editor GSA Business Report, 35B Cessna Court Greenville, S.C. 29607
Interest rates to climb in coming months
(Illustration/File)
On the in ation front, every measure
The
19-October 2, 2022
Stephen Slifer can be reached at www.numbernomics.com
Viewpoint
VIEWS, PERSPECTIVES AND READERS’ LETTERS
SLIFER
chair
One can try to explain why so many people suddenly started to look for jobs in August. In June and July, the labor force allegedly declined by 353,000 and 63,000 respectively. at le economists scratching their heads looking for reasons why people suddenly stopped looking for jobs at a time when the unemployment rate was at a 50-year low rate of 3.5%.
e fact that 786,000 of them started to seek employment in August is as puzzling as the earlier declines. If we lump it all together, the unemployment rate for August at 3.7% is a shade higher than the 3.6% rate that existed three months earlier. at seems to make a certain degree of sense. ere is no truth in economics. Every economic indicator is derived from a relatively small sample. e results of the sample are then blown up to represent the universe. Once that is done, the data are “seasonally adjusted,” which is supposed to take into account changes that typically occur in that month.
indexes in the ISM reports for the manufacturing and business sectors. ey all tell us a part of the story. at is what the Fed does. It looks at everything. An FOMC meeting can perhaps be likened to a jury that must use the “preponderance of evidence” to reach a Lookingverdict.at the evidence, we conclude that the economy has slowed from what it was at the beginning of the year. But it is in no danger of falling into a recession. A signi cant number of new jobs are being created every month. e 3.7% unemployment rate is still well below the Fed’s estimate of full employment, which is about 4.0%. Consumers are still spending. Manufacturers are still boosting production.
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