GSA Business Report - November 21, 2022

Going electric McMaster puts the weight of the governor’s office behind vehicle electrification.

Work begins on former Rick Erwin location in Greenville

By Krys Merryman kmerryman@scbiznews.com

Aproject is underway for two new restaurants to occupy the former Rick Erwin’s Nantucket Seafood site located in the Main@Broad mixed-use development in downtown Greenville at 40 West Broad St.

Charleston-based authentic Asian cuisine O-Ku and rustic Italian cuisine Indaco restaurants from The Indigo Road Hospitality Group will take the place of Nantucket with the addition of a renovated Village

Green where the annual United Community Bank Ice on Main outdoor skating rink resides from Nov. 11 through Jan. 16.

The Greenville-based developer on the project is Windsor Aughtry Co., and they have partnered with The Indigo Road Hospitality Group to bring these two restaurant concepts to Greenville. Charleston-based David Thompson Studio is the architect and designer for the project alongside Clayton Construction Co., the general contractor.

“We are honored to partner with Windsor Aughtry and excited to be a part of Greenville's already bustling restaurant scene,” said

Windsor Aughtry asset manager and developer Kirk Crawford said outdoor dining will be created for both restaurants in addition to a designated bar area with lounge seating and fireplace, which will all occupy the Village Green as permanent fixtures once the project is completed.

“Our idea for the outdoor space is to make it more of an inviting atmosphere,”

Texas company invests $62M investment in Spartanburg County

By Ross Norton rnorton@scbiznews.com

Visual Comfort & Co., a resource for designer lighting, architectural lighting and ceiling fans, will establish distribution operations in Spartanburg County. The $62 million investment will create 125 new jobs over the next five years, according to a news release from the S.C. Department of Commerce.

“Visual Comfort & Co. is excited to be partnering with South Carolina and the county of Spartanburg on a new state-of-the-art facility designed to improve our customers’ overall experience,” Chief Operating Officer Gary Hirschel said in the news release. “The access to ports, infrastructure and strong labor force make Greer an exceptional choice for Visual Comfort & Co. We greatly appreciate the welcoming environment and ongoing support from state and local officials, and we

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look forward to connecting with the community in making Visual Comfort & Co. an employer of choice in the Spartanburg area.” Located at Smith Farms Industrial Park in Greer, Visual Comfort & Co.’s new distribution facility will serve the company’s growing demand, according to the news release. Visual Comfort & Co. is a 30-year-old company based in Houston, Texas.

Steve Palmer, Indigo Road founder and chief visionary officer. “We look forward to welcoming guests next spring.”

The new design includes outdoor space for both restaurants. (Image/Provided)

Financial services provide the oxygen for economic development

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

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

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

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

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

Source: Federal Deposit Insurance Corp.

Bank deposits in SC metro areas Federal data as of June 30 shows deposits in banking institutions operating in South Carolina’s metro areas. Banks have seen a surge in deposits compared to 10 years ago.

“That vision that was announced here today will only become reality if we earn it, if we embrace the future, if we realize that we can’t get there by ourselves.”

— Sen. Lindsey Graham

SC Biz News Briefs

Charleston-based MUSC forms partnership to create new virtual health care company

Two major health care systems have formed a new partnership and created a virtual company with the goal of redesigning traditional care with a virtual-first delivery model.

The Medical University of South Carolina in Charleston and The MetroHealth System, based in Cleveland, created Ovatient, a new, comprehensive virtual and in-home care nonprofit company with the aim of transforming health care delivery while building and maintaining connectivity to health systems and the care it is anticipated to provide, according to a news release.

Ovatient is developing a solution with the goal of augmenting current clinical offerings by extending its brand through a proprietary, scalable platform, according to the release. The virtual care is poised to enable health care systems and patients to access best-in-class virtual and in-home care with a seamless, hyper-personalized user experience.

Through this new model, there is an opportunity for health systems to pool resources and address common health care workforce issues by working together, such as increasing access to a limited number of behavioral health and specialty care providers instead of competing against each other for them, the release stated.

“Ovatient shifts care away from traditional care delivery sites and brings it to the customer,” said Michael Dalton, Ovatient CEO and entrepreneur-in-residence at MetroHealth, in the release.

Richland County women arrested and charged with false state sales tax filings

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

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

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

If convicted, Frederick faces a maximum sentence of five years in prison and/or a fine of $500. She is being held in the Alvin S. Glenn Detention Center pending a bond hearing.

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Woman named Goodwill’s Veteran of the Year

A

Greenville woman who proved her dedication to her country and her family has been named the 2022 Goodwill Industries International Veteran of the Year.The award, named the Carol and Tommy Moore Veteran of the Year Award, honors a military veteran and Goodwill employee who has shown great progress and accomplishment in overcoming challenges to finding employment.

Even with 20 years of military service and a four-year degree, Sheila Gilmore struggled to find work because of 15-year employment gap spent as a stayat-home mom and nurse, caretaker and rehab coach for her son, who suffered a traumatic brain injury in an auto accident.

Gilmore joined the U.S. Army in 1983, serving around the world and achieving the rank of sergeant 1st class before her retirement in 2003, according to a news release from Goodwill Industries of the Upstate/Midlands. Gilmore went to night school and earned a bachelor’s degree in psychology while serving in the Army.

She moved to Greenville in 2005 for an inspection job that she couldn’t accept in the end after learning it was third shift. Then her oldest son was in the car accident that led her to being his primary health caretaker. Although doctors told her he would never regain his memory, she devoted herself to his rehabilitation. Today he owns a trucking business, the news release said.

After 15 years out of the workforce, raising children and rehabilitating her son, Gilmore struggled to find employment. She applied for jobs in industries in and out of her field but she said employers seemed more concerned with her time out of the workforce than in her skillset. In 2019, she was hired as a retail associate at a Goodwill retail store in Greenville for Goodwill Industries of Upstate/Midlands South Carolina, which turned out to be an opportunity

that opened other doors, the release said.

She learned her job well enough that she was asked to become a peer coach to new associates. After a year, Gilmore was promoted into the E-commerce division in 2020 where she received a pay raise and learned a new side of retail. Since 2020, she has become a go-to for her managers and a leader to her peers, the release said.

“When I look back at the obstacles I encountered regarding employment; it was God’s will for me to work at Goodwill,” Gilmore said in the news release. “Serving others is the best thing in life and helps you to have a selfless and humble mindset.”

Gilmore also volunteered for the Diversity, Equity and Inclusion Employee Resource Group where she participated on committees and helped drive DEI principles in the organization.

“Sheila’s perseverance and dedication to both her work and serving others have helped her grow tremendously in her job,” Patrick Michaels, president and CEO of Goodwill Industries of Upstate/ Midlands South Carolina, said in the release. “She has also brought a unique

set of skills to her role having served in the Army that have enabled her to lead and take on new opportunities.”

Goodwill Industries of the Upstate/ Midlands South Carolina is a locally owned and operated non-profit within the Goodwill Industries International network. The organization operates 40 stores across 16 counties with proceeds going to job training and education programs.

“At Goodwill, we are committed to helping people reach their full potential through learning and the power of work,” Steven C. Preston, president and CEO of Goodwill Industries International, said in the release. “Sheila’s unwavering dedication to both her work and her family are inspiring, and we’re pleased that Goodwill can play a role in helping people like Sheila achieve their career goals.”

Goodwill Industries of the Upstate/ Midlands South Carolina is a locally owned and operated non-profit within the Goodwill Industries International Inc. network. Founded in May 1973, the organization turns donations into training opportunities for job seekers.

Lifetime

©2022

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send

By Ross Norton rnorton@scbiznews.com

Lifetime achievement award goes to Screwmatics owner

By Ross Norton rnorton@scbiznews.com

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

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

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

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

Hogge has guided the company

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Thomas Hogge, right, accepts the award from Andy Carr, president and CEO of SCMEP. (Photo/Ross Norton)

Women in manufacturing share words of wisdom

By Krys Merrryman kmerryman@scbiznews.com

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

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

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

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

“It’s a company that revolves around women uplifting other women,” said Murray. “Having a women-dominated company in a male-dominated industry really brings a family aspect to the culture. I feel comfortable going to anyone — male or female — in the company and asking for help, and I think that’s a really unique experience

to Nephron.”

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

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

Many people think of us as just a tire company, but we are also in the business of economic mobility. South Carolina is home for us. The world is changing, and the dynamic of the workforce is changing, especially with women in the manufacturing industry. Climbing the corporate ladder was a little different for me. My advice is to be open to different challenges and opportunities and be ready to

show up. If you stay ready you don’t have to get ready.

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

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

Photography by Keith Isaacs

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

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

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

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

We have a very diverse group at Grand Forest. When we first started, we had one male on staff. Apparel is

typically a women-dominated field, but we also have a lot of roles for men, too. But I love taking people up the ranks who have been with the company for years. That has been a great part of our company to have many people who have worked in many different areas of the company.

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

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

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

In any field, mentorship is important. From a woman in manufacturing standpoint, there is only a small percentage in leadership. The more you

encourage and support your staff the more we can lift each other up as we go. Work toward closing the gender gap, building women up from the inside is key, but how do you get them in the door in the first place? It’s all about what environment we create. Young girls aren’t thinking they want to be a manufacturing leader when they grow up. We open the door and show them these aren’t just things boys do. When I was younger, I always tried to minimize my gender, but then I learned to just be who you are.

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

I wasn’t given an opportunity; I earned it. All of us have a story to tell and have to be proud of our reputation and what we have accomplished. It’s sometimes overwhelming and exhausting but not hard. It’s important to fuel competition instead of fearing it. You want to get ahead of your competition and do something different. The Women in Manufacturing organization is here to inspire all women of all walks of life in the industry. When we talk about normalizing this industry, there isn’t anything abnormal about it now. We just need to adapt to the changing times such as with our younger generations, especially speaking to them on the proper social media channels. We have to use our voices to elevate. We are on a lifelong learning journey and have to continue to invest

in ourselves and in others while continuing to learn.

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

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

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

South Carolina Federal’s Scott Woods receives Order of the Palmetto

Gov. Henry McMaster awarded Scott Woods, president and CEO of South Carolina Federal Credit Union, with the Order of the Palmetto.

The Order of the Palmetto is South Carolina’s highest civilian honor and is presented in recognition of a lifetime of extraordinary achievement,service, and contributions to the state.

Woods has served as president and CEO of South Carolina Federal since 2004. Under his leadership, the credit union has grown by $1.5 billion in assets, expanded into four new markets, and earned numerous Best Place to Work and Best Credit Union awards from national, local, and industry media. In 2013, Woods helped create and launch the South Carolina Federal Foundation, which has donated more than $1.6 million to nonprofit organizations statewide.

Glassdoor, one of the world’s largest job and recruiting websites, named Woods a Top CEO in 2019 and 2021, and SC Biz News named him a 2021 Power Player, recognizing him as a leader in banking who is shaping the future of South Carolina’s financial services industry.

“ ”

Through his long list of charitable and volunteer work, Mr. Woods exemplifies what it means to be an Order of the Palmetto Recipient

— Governor Henry McMaster

“A proud South Carolinian, Scott Woods has continuously put South Carolina and the Lowcountry first,” said Governor Henry McMaster. “Through his long list of charitable and volunteer work, Mr. Woods exemplifies what it means to be an Order of the Palmetto Recipient, making it a privilege to recognize him for his contributions to South Carolina.”

Scott Woods is awarded the Order of the Palmetto by Gov. Henry McMaster.

By Christina Lee Knauss cknauss@scbiznews.com

Attendees on Nov. 3 at the S.C. Manufacturing Conference and Expo in Greenville witnessed the dance moves of a bright yellow robotic dog named Spot who will soon be the face of artificial intelligence for thousands of students around the state.

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

The council sponsored “Artificial Intelligence is a Game Changer,” an event where people met Spot and heard about efforts to get young people interested in the tech skills that will be needed by workers in manufacturing and other industries.

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

Spot robots were introduced in 2019 by Boston Dynamics and about 400 are currently in use around the country in a variety of industries from manufacturing

to mining. One of the robot canines even explored the volcanic ruins in Pompeii earlier this year, according to a report in Smithsonian Magazine — an example of how the robot is useful in situations that could be unsafe or difficult for human workers.

Spot won’t be facing any danger here,

however. Instead, the robot will visit schools.

Techno music blared from nearby speakers at the conference and attendees saw Spot “dance” by following moves programmed by a worker with a nearby laptop.

Christ said once the robot dog is in the

classroom, students will learn how to write programs to choreograph dances for the robot.

The name Spot is also not going to stick around long. To kick off the program, SC Tech will sponsor a naming contest next school year.

Keynote speaker John McElligott told attendees this type of innovative approach to teaching AI technology is more crucial than ever because too many students lack skills to work with technology that is already being used on today’s factory floors and in other industries.

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

“Studies show that in the near future, about one-third of the population is going to be unemployable because education and business can’t keep up with the way technology is evolving,” he said. “We have teenagers today that have been told by their parents they were geniuses because they could work a tablet. They’re not. They’ve been told they’re tech-savvy and they’re not. They need to be learning skills to deal with future technology.”

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

$26 million investment will create 88 jobs in Laurens

By Ross Norton rnorton@scbiznews.com

Asupplier of automotive and industrial racking products will expand its S.C. footprint with new operations in Laurens County. Motor City Racks said in a news release from the S.C. Commerce Department that it will invest $26 million and create 88 new jobs.

Motor City Racks is a full-service manufacturer and supplier that provides custom automotive and agriculture packing solutions, the news release said. The company also specializes in custom fabrication, design services and laser operations.

Motor City Racks also operates a facility in Cherokee County. The company is headquartered in Warren, Mich.

“The executive management team of Motor City Racks, consisting of Johan and Ben Enns, is extremely excited for new operations in Laurens,” Motor City Racks Controller Daniel Zavaros said in the news release. “The last nine years in South Carolina have been an incredible journey for Motor City Racks, and it would not have been possible without our outstanding South Carolina workforce.

Located at 366 Old Airport Road in

Laurens, Motor City Racks’ new facility will be its first operation in the county. The facility will accommodate additional production capacity and growth that can accommodate increased demand.

“During our expansion initiatives, we plan to execute effectively while continuing to leverage our 20 years of experience in custom weld fabrication,

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our strong ties to the South Carolina automotive industry and our relationship with the South Carolina Department of Commerce,” Zavaros said in the release. “We plan to create many longterm well-paying jobs, invest substantial capital, and grow our operations.” Operations are expected to be online by January 2023. Hiring started already.

“We are excited to have Motor City Racks expand their operation into Laurens County and fill an existing building,” Laurens County Council Chairman Brown Patterson said in the release. “There are great things going on in Laurens County, and this is just further testament to that. We wish Motor City Racks much success and look forward to a long and prosperous relationship.”

The S.C. Commerce Department’s Coordinating Council for Economic Development approved job development credits related to this project, the release said. The council also approved a $300,000 Rural Infrastructure Fund grant to Laurens County to assist with the costs of building improvements.

“South Carolina leads the nation in the export sales of completed passenger vehicles and tires, and companies like Motor City Racks contribute to that impressive accomplishment,” S.C. Gov. Henry McMaster said in the release. “By establishing their newest operation in Laurens County, the company is making a statement that South Carolina has the environment where businesses can grow and thrive.”

“This announcement is a testament to the growth of the Laurens County community,” Commerce Secretary Harry Lightsey said in the release

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 future.

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.

Motor City Racks built a business serving the automotive industry in Detroit. (Illustration/Motor City Racks)

said Crawford. “We are going in and building a true overhang that’ll allow for year-round covered outdoor dining with heaters and fans. Guests of the outdoor bar will also have the ability to order food from the restaurants.”

The restaurant concepts are designed with a modern flair that will appeal to guests of all ages, according to Crawford. The project is slated for a grand opening in late spring 2023, and Crawford declined to comment on the anticipated project cost.

David Thompson, owner of David Thompson Studio, said this is the first of his projects in Greenville and he is excited for the opportunity to design a space in a prominent location downtown.

“We have done several projects with Indigo, with locations in Charleston, Atlanta and Charlotte, but one of the more interesting things about this project is the green space and having an exterior component to this one,” said Thompson. “It’s going to be seen by

“Visual Comfort & Co. bringing its distribution to Spartanburg is another win for a key sector in our county – distribution and logistics,” Spartanburg County Councilman David Britt, chairman of the county economic development committee, said in the release.

everyone walking by, and it feels like an exciting downtown that we are plugging into, a good bit of energy that’s already

“We’re excited to welcome them to Spartanburg and excited to keep up our pace of investment success.”

Operations are expected to begin in January. S.C. Ports President and CEO Barbara Melvin said the company’s decision to choose the Upstate in an example of how the ports support retail.

“S.C. Ports is excited to support

there.”

Thompson said he has been visiting Greenville for about 10 years and

Visual Comfort & Co.’s new distribution center in Spartanburg County by efficiently handling their designer lighting products,” Melvin said in the release. “S.C. Ports’ marine terminals provide access to global markets, and goods can swiftly move via rail between the Port of Charleston and Inland Port Greer.

Visual Comfort & Co.’s decision to

was happy to see the project’s progress last week. David Thompson Studio has worked on approximately 30 projects with Indigo Road to date.

“There is room to offer a new perspective on Italian food and sushi in Greenville,” Thompson said. “The spirit and approachable menus of these two restaurants and the energy they bring works well with the feel of downtown Greenville.”

Crawford said Ice on Main will still run this year but with an updated shape and size of the rink, which includes being shifted toward the plaza staircase on Main Street. The interior construction of the restaurants will continue in addition to some of the exterior during Ice on Main, but the hours spent on construction will be limited in order to prepare a better experience for those going to the rink, said Crawford.

“Going forward and once the project is complete, Windsor Aughtry is confident that the reactivation of the space will greatly enhance the Ice on Main experience,” he said.

invest in South Carolina reinforces that S.C. Ports is an asset to retailers, providing fluidity and capacity to their supply chains.”

The Commerce Department’s Coordinating Council for Economic Development approved a $300,000 Set-Aside grant to Spartanburg County to assist with building improvement costs.

TEXAS, FROM Page 1

Ice on Main continues on the site this season, even as renovation continues. (Image/Provided)

BMW opens Vehicle Accessories Center near Greer plant

By Ross Norton rnorton@scbiznews.com

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

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

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

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

The facility specifically supports Plant Spartanburg, which currently builds approximately 60% of the BMWs sold in the United States, including the best-selling BMW X3, BMW X5 and BMW X7.

Plant Spartanburg will begin production of the newest BMW X model, the first-ever BMW XM, this December.

Fall has been an active time for BMW

announcements.

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

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

By 2030 BMW Group will build at least six fully electric models in Spartanburg County, Zipse said. "You will not believe how big that factory is going to be," he told a crowd that included local, state and national politicians, including Woodruff Mayor Kenneth Gist, who said Woodruff employees were hanging "Welcome BMW" banners even as the announcement was still underway in Greer.

The logistics center, called LCX, is on Freeman Farm Road in Greer, billed by BMW as a “more efficient, sustainable and digital operation” in keeping with company efforts to stay ahead of changing technology.

BMW Manufacturing President and CEO Robert Engelhorn said LCX combines two warehouses into one facility, “making our processes faster, leaner and more efficient.” He said the center incor-

porates elements of the BMW iFactory strategy, which defines the future of automotive manufacturing for all of BMW production worldwide.

The $20 million training center was built with a goal of promoting creative learning, fostering innovation and advancing technical skills in a changing automotive industry. It will have an additional economic impact on the Upstate economy by attracting people from BMW operations across North America for training.

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

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

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

Governor puts weight behind electric vehicle industry

By Krys Merryman kmerryman@scbiznews.com

S.C. Gov. Henry McMaster signed and announced a new executive order that will help support the increase of electric vehicle production and coordinate infrastructure for the industry in the state.

The executive order, which was announced at the end of the Electric Vehicle Summit at the AC Hotel Greenville on Thursday, formalizes McMaster’s efforts to coordinate the future roll-out of the state’s electric vehicle infrastructure. The order prioritizes the state’s efforts to recruit vehicle-related businesses to South Carolina by training the state’s workforce to be prepared for the jobs related to the industry and establishing a “one-stop shop” at the S.C. Department of Commerce for businesses interested in investing in the state, according to the

news release sent by the governor’s office on Thursday afternoon.

“Thousands of jobs will be created,” said S.C. Department of Employment and Workforce Director Dan Ellzey at the summit. “We are ready from a workforce standpoint, but this electric vehicle trend will be a huge demand for technicians at car dealers who will need additional training for battery-operated vehicles. We will continue to gather occupational information and analysis to figure out all the needs.”

Ellzey also predicted a need for industrial engineers, which require a college degree, and software developers among many other positions.

About 700 students across 16 state technical colleges are currently enrolled in automotive technology, said Tim Hardee, S.C. Technical College System president.

“Not only does the number of students

need to expand, but we will also need more instructors,” he added.

The S.C. Technical College System secured $12 million last year in state funding to train 6,000 people, Hardee said. He believes the interest in the manufacturing industry should be sparked earlier, in K-12 schools.

“We will continue to navigate to address this emerging industry,” said Hardee, “much like when Michelin came to South Carolina.”

Manufacturing jobs make up more than 30% of the state’s total workforce. South Carolina is currently home to more than 500 automotive companies and 72,000 autoworkers. The industry has a $27 billion economic impact in the state.

The governor’s executive order also creates an Interagency Working Group tasked with working collaboratively with stakeholders and local governments to develop a comprehensive plan regarding

the strategic deployment of electric vehicle-related resources and infrastructure across the state, according to the release. The working group will be focused primarily on developing a plan for strategically placing electric vehicle charging stations along South Carolina’s interstates and roadways.

The working group is made up of many of the agencies who provided guest speakers at the summit including the department of Transportation, commerce, DEW and others.

“The only way South Carolina has been able to maintain its status as an automotive industry leader for nearly three decades is by strategically adapting as the industry innovates,” McMaster said. “As the industry continues to move toward electric vehicles, South Carolina will move along with it — working to

BMW built the center near Plant Spartanburg to streamline the accessories installation process and shorten delivery times. (Photo/Provided)

Graham: Electrification too big for 1 company

By Ross Norton rnorton@scbiznews.com

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

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

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

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

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

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

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

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

new oil. How do you charge the car? In the $1.2 trillion infrastructure bill, which I voted for, there’s a lot of money to accelerate charging stations. How do you build a battery that goes longer and farther?

Where do you get the materials? How do you turn raw material into an actual battery that goes into the car? What happens to the oil industry 40 years from now?”

The role of power companies and fuel-

ing stations will change, Graham said.

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

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

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

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

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

ensure that our state will continue to be seen as the ideal place for manufacturers and suppliers to do business. Along with these investments comes good-paying jobs that our people will be ready to take on.”

Electric vehicle summit

Joey Von Nessen, University of South Carolina research economist, kicked off the summit with an electrification study and economic impact of select South Carolina sectors.

South Carolina’s automotive manufacturing industry has been a principal driver for the state’s economic growth since 2010, with a total growth rate of approximately 186.1% between 2010 and 2020 — higher than any other Southeastern state. In order to continue long-term growth, the state intends to respond to changes in demand and market transitions.

“This has been consistent growth over time, over the last decade,” said Von Nessen. “More and more companies are drawn to South Carolina than anywhere else in the United States for manufacturing.”

The e-mobility industry is rapidly evolving with the rise in global demand for electric vehicles, he said.

According to Von Nessen, even with the extraordinary growth the automotive industry has seen in the previous decade, South Carolina’s automotive

industry currently contributes just 26% of the total value to the vehicles it produces. That is due to the state historically not producing vehicle engines.

“Now we are in a position where we can start thinking about the production of vehicle engines in the state,” he said. “This is a real opportunity for the state, not only to adapt to the new electric vehicle landscape but to create an increase of value of the state.”

Keynote speaker J.B. Straubel said the landscape has changed incredibly fast over the last decade. He is co-founder and former chief technology officer of Tesla and founder and CEO of Redwood Materials, a domestic supply chain for lithium-ion batteries across collection, refurbishment, recycling, refining and remanufacturing of sustainable battery materials. Redwood Materials partners with Ford, Volvo, Toyota, Volkswagen and other companies, focusing on a clean energy future. Straubel left Tesla and started Redwood in 2017.

“We are only 1% of the way of electrifying cars in the U.S.,” Straubel said. “It’ll be a challenging time, but we are already experiencing unprecedented growth in this industry.”

However, he added, globally the Southeast is going to be one of the largest battery manufacturing centers.

Also at the summit, several government agencies and state organizations took the stage in Q&A-style interviews including representatives from the S.C. Department of Commerce, S.C. Depart-

ment of Transportation, S.C. Technical College System and the S.C. Manufacturers Alliance.

Key takeaways from the summit:

More electric vehicle production from S.C. manufacturing plants could lead to a greater reliance on out-of-state suppliers, which could, in turn, result in lower rates of job creation, unless the state grows its e-Mobility supply chain.

Global projection of electric vehicles is increasing dramatically and is forecast to continue in the coming decade.

A focus on growing electric vehicle supply chains, freight transportation, maintenance and workforce initiatives are all critical to help maintain the competitive advantages that the state has experienced throughout the last decade.

Greenville Mayor Knox White said, “We are a manufacturing state, an intersection between innovation and new technology, and electric vehicles are the future.”

McMaster said manufacturing is booming in the state. The industry has created billions of dollars in capital and thousands of jobs in South Carolina. For example, BMW has invested more than $12 billion into the state since breaking ground on its Spartanburg County plant in 1992.

Volvo has also projected the company will make all its vehicles electric by 2030, according to McMaster. “Times are changing, and we are right in the middle of it,” he said. “It’s a great future.”

S.C. Parks Recreation and Tourism

Director Duane Parrish said the agency plans to have electric vehicle charging stations in all 47 state parks. “This is an opportunity to be a leader in the industry across the nation,” he said.

If everyone in the country decided they wanted an electric vehicle, said S.C. Commerce Secretary Harry Lightsey, it would still take decades to get the United States to where it needs to be for the future. “It’s a process,” said Lightsey.

As part of the S.C. DOT’S National Electric Vehicle Infrastructure plan, more electric vehicle charging stations will be added across the state, said Transportation Secretary Christy Hall.

“It’s a real issue with battery limitations,” she added. “But we are looking at interstates and more rural areas, and we anticipate leveraging public and private sectors at maximum capacity, especially federal funding to help implement the NEVI plan.”

The state is seeing an increase in electric car production. An electric car company, Dash EV, which produces vehicles to expand the carsharing business, announced on Oct. 12 it will expand its operations and move headquarters to Greenville.

“It is time to embrace the future for more sustainability to continue to be competitive as a state,” said Commerce Deputy Secretary Ashely Teasdel. “In the automotive force, we have here some of the best in the world, so we have a responsibility to help support our companies and businesses.”

NEXT ISSUE’S FOCUS: Architecture, Engineering & Construction

Midlands brewery crafts NFT purchase platform

By Christina Lee Knauss cknauss@scbiznews.com

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

By the end of the year, Columbia Craft

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

feels like Home

and business development officer.

Strauss and those working with him on the project realize there is a steep learning curve for many people with this new project, but they’re willing to brave the challenge.

In simple terms, NFTs are unique digital assets based on blockchain technol-

ogy that can’t be replaced or exchanged because of their distinctive properties. They’re called non-fungible tokens because unlike fungible, or interchangeable, items such as physical or cryptocurrency, NFTs can’t be exchanged. Once

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

Credit union renovates downtown Greenville building for new office

By Jason Thomas jthomas@scbiznews.com

North Carolina-based Truliant Federal Credit Union has started its South Carolina market expansion with the opening of the Truliant Upstate Regional Office in downtown Greenville.

The expansion also includes the opening of a second freestanding branch at Cherrydale Point within the next few weeks, according to a Truliant news release.

Truliant purchased the building in 2021 and renovated the three-story, 19,000-square-foot facility at 110 W. North St. in the Historic District of downtown Greenville, the release stated. Truliant’s Upstate operations will be managed from this location. Built in 1920, the credit union’s new regional office supports commercial lending, financial advisors, Truliant at Work, community outreach and mortgage services, according to the release.

In addition, the credit union is dedicating a significant portion of the regional office to an onsite training center that can accommodate up to 18 employees, the release stated. The South Carolina expansion will create more than 60 jobs over the next several years, including branch staff, ancillary services, support services and back-office roles, among others.

The 70-year-old credit union has a branch on Pelham Road in Greenville, which opened in 2016 and replaced a

long-standing Airport Road location, the release stated. Truliant traces its history in Greenville back almost three decades to its business relationship with the JPS Textile Group. JPS partnered with Truliant in 1994.

“Truliant has a long history in Greenville, and we plan to do here what we do best: Offer great value to our members and provide straightforward financial solutions that helps them meet their goals,” said Todd Hall, Truliant’s president and CEO, in the release. “Over the next several years, the Upstate will represent a significant percentage of our over-

all expansion. Our contiguous strategy south along the I-85 corridor is the next logical step for Truliant. We see a great opportunity in the Upstate market. This area aligns perfectly with our growth strategy.”

In addition to the credit union’s existing branch location, a newly constructed branch office located at 6 State Park Road in Cherrydale Point will open in November, the release stated. Leading the regional branch expansion is Jason Swink, the Upstate market director, who has worked for the credit union’s branch operations since 2020.

A second new location in Easley will open in early 2023, and a third will open in Greer later in the year, according to the release. The combined locations represent more than 28,000 square feet.

In addition to serving as its business lending center for the Upstate, the regional office will provide operational support for Truliant’s branch expansion, the release stated. During the last three years, the credit union offices in North Carolina and Virginia have added additional services for mortgages, business services, insurance services, financial advisors, indirect lending and digital services. Truliant will offer all of these services in the Upstate, and many of the adjacent South Carolina markets will benefit from the new locations, ancillary services and third-party services.

The Upstate locations will form the fourth regional concentration of Truliant branches. The other regions are in the Charlotte-Metro area, the Piedmont Triad area of North Carolina and southwestern Virginia.

At its regional office opening, the Truliant Foundation made a $10,000 donation to the Greenville Chamber Foundation to support the Chamber’s LaunchGVL program, the release stated. This initiative through a partnership between the Chamber and Greenville County Schools connects high school students with work opportunities to strengthen the workforce and to help close the skills gap in Greenville’s high-demand occupations.

Reach Jason at 864-568-7570.

United Community Bank employees undertake veterans projects

Staff Report

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

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

“As a veteran of the U.S. Air Force and Naval Reserve it is incredibly important to me that we all take the time to appreciate those who have served our country whether in active duty or as reservists,”

Rich Bradshaw, president and chief banking officer for United Community Bank, said in a news release. “I am extremely proud of our team for organizing efforts across our footprint that will positively impact those who have sacrificed so much for our country.”

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

BOOK EXPERTS

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

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

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

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

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

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

Truliant purchased the building in 2021 and renovated the three-story, 19,000-square-foot facility at 110 W. North St. in the Historic District of downtown Greenville. (Photo/Provided)

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

purchased, they belong exclusively to the owner.

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

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

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

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

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

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

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

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

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

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

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

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

The design of the NFTs will reflect the design or logo used for each beer on its taproom magnet.

Strauss said the individual NFTs will be available to consumers of legal drinking age who will be able to purchase a limited number of them through the company’s website, with a credit card or through a cryptocurrency account using Ethereum or Bitcoin.

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

Columbia Craft is not the only brewery currently using NFTs to amplify their brand, and Strauss said the larger goal through his company’s launch is to eventually create an overall platform and application that any brewery can use to release their own specific NFTs related to their brands.

“Products like NFTs and the blockchain need to be looked at right now as a new tool, something like the industrial revolution for not just breweries but other businesses as well,” Strauss said. “It’s going to take time for this kind of thing to be adopted. What NFTs can do is to help breweries like Columbia Craft create more awareness for their brand and another revenue stream as well.

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

Financial Brokerage Firms

Ranked by No. of Licensed Brokers in the Greenville Area

Company

Northwestern Mutual

501 E. McBee Ave., Suite 101 Greenville, SC 29601

Raymond James & Associates 112 Haywood Road Greenville, SC 29607

Morgan Stanley Wealth Management 201 E. McBee Ave. Greenville, SC 29601

Countybanc Investment Ser vices Inc. 419 Main St. Greenwood, SC 29646

Ameriprise Financial Ser vices Inc.

201 E. Camperdown Way Greenville, SC 29601

ASE Financial Advisor y Group

9 Buena Vista Way, Suite B Greenville, SC 29615

Foothills Wealth Management

510 Reed Road Anderson, SC 29621

Jeter Hrubala Wealth Strategies LLC 101 West St. John St., Suite 207 Spartanburg, SC 29306

Novus Advisors

607 Pendleton St., Suite 101-B Greenville, SC 29601

Muncaster Financial Group Inc. 9 Whitsett St. Greenville, SC 29601

Oak Capital Management 750 Executive Center Drive, Suite 100 Greenville, SC 29615

Stifel 10 Patewood Drive, Suite 425 Greenville, SC 29615

Ballentine Capital Advisors

15 Halton Green Way Greenville, SC 29607

Ameriprise Financial LLC 330 Pelham Road, Suite 105B Greenville, SC 29615

J. Freeman & Associates Inc. 8 Pelham Road Greenville, SC 29615

Money Poole

8 Dameron Ave. Greenville, SC 29607

Phone / Website / Email

864-232-2881 www.greenvillespartanburg.nm.com

864-289-2100 www.rjupstate.com brian.flemmer@raymondjames.com

864-370-7240 www.morganstanleybranch.com/greenville.sc herbert.fleming@morganstanley.com

864-942-1524 www.ecountybank.com

864-239-0393 www.ameripriseadvisors.com

864-254-0032 www.aseadvisors.com info@aseadvisors.com

864-224-6312 www.foothillswm.com will@foothillswm.com

864-764-1789 www.bethhrubala.com beth.hrubala@raymondjames.com

864-272-3579 www.novusadvisors.com info@novusadvisors.com

864-527-0434 www.muncasterfinancial.com info@muncasterfinancial.com

864-250-9033 www.oakcapitalmgt.com michael.bynarowicz@oakcapitalmgt.com

864-679-6900 www.stifel.com

864-322-6046 www.ballentinecapital.com wealthteam@ballentinecapital.com

864-451-7890 www.ameripriseadvisors.com/Jeffrey.b.froman jeffrey.b.froman@ampf.com

864-331-4400 www.j-freeman.com marketing@j-freeman.com

864-326-5464 www.moneypoole.com norm@moneypoole.com

Executive(s) / Year Founded

Brokers / Employees Products / Ser vices

John B. Tripoli 1981 40 73

Brian Flemmer Brenda Bradley Melissa Eskew 1962 34 51

Mar y G. Crowley, Herbert J. Fleming, Danny Bufkin 1984 30 40

R. Thornwell Dunlap III 1933 9 15

James D. Bennett, James H. Barnes 1982 6 9

Dever y Cagle 2005

4 12

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

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

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

Accounts, annuities/life insurance, asset management, financial management, financial planning, money funds, money management, retirement planning, trust ser vices, underwriting

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

Annuities/life insurance, asset management, financial management, financial planning, local research, money management, retirement planning, tax shelters, trust ser vices

Barr y R. Bynum, William Jones, W Stephen Jones 1993 4 6 Annuities/life insurance, asset management, financial management, financial planning, money management, mutual funds, retirement planning

Beth Jeter Hrubala 2014

Jennifer Belshe, Chris Connelly 2011

Richard H. Muncaster 2005

3 4

4 5

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

4 5

Accounts, asset management, financial management, financial planning, money management, mutual funds, retirement planning

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Gar y Chris Johnson, Michael P Bynarowicz, Christopher T Miller 2009 3 10

Paul Vidovich 1890 3 5

Br yan Ballentine, Anthony Colancecco 2002 2 9

Jeffrey B. Froman 2005

Andrea Smith, Jason H. Freeman 2004 1 7

Norman A. Poole 2011 1 1

1 1

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

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

Asset management, financial management, financial planning, retirement planning

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

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

Business Digest At Work

McMillan Pazdan Smith recognized for client satisfaction

PSMJ Resources Inc. announced that McMillan Pazdan Smith Architecture is among the 10 winners of the 2022 Premier Award for Client Satisfaction, a national award that honors architec ture and engineering firms that deliver an exceptional client experience. PSMJ Resources is a publishing, executive edu cation and advisory group.

BUSINESS DIGEST | PEOPLE IN THE NEWS

meeting and exceeding advertising stan dards. BBB’s Local Advertising Review Program (LARP) recognizes businesses and nonprofits within the 10 counties of the Upstate for adhering to BBB’s Code of Advertising guidelines. Implemented through a local partnership between BBB and the American Advertising Fed eration of Greenville, the LARP commit tee monitors advertising claims against BBB’s Code of Advertising, a compre hensive set of guidelines established to help businesses plan honest and effective marketing and advertising programs.

New Horizon recognized for quality improvement

Sully’s

Sully’s Steamers opens in Mauldin Sully’s Steamers said it opened a restau rant in Mauldin. Located at Maverick Station at the intersection of Butler Road and Main Street, Sully’s serves steamed bagel sandwiches. Sully’s also has restau rants in Greenville, Clemson, Simpson ville and Brevard, and plans to open a location in Spartanburg later this Fall.

Wellness clinic to open in Greenville

Pillar Holistic Living said it will open a Greenville location at 9 Mulligan St. this fall. The location will provide low-im pact chiropractic and holistic treat ments, as well as total family health, with a focus on pediatrics and pregnan cy care. Pillar Holistic Living is brought to the Upstate by Dr. Jessica and Brian Caruso, who recently moved to Green ville from New Hampshire, where they ran a practice for 17 years.

Rink season begins at The Well Bon Secours Wellness Arena in down town Greenville opened its rink season as the Greenville Swamp Rabbits played Savannah Ghost Pirates on Oct. 22. Rink season brings the Swamp Rabbits hock ey season as well as ice shows and other events. Additionally, The Well will host several events that invite the community to lace up their own skates and hit the big ice. For information, visit www.bonsec oursarena.com

Graycliff announces Savannah development

Greenville-based Graycliff Capital Part ners LLC announced a new multi-fami ly development, Waterleaf at Salt Creek, located along U.S. Highway 17 within the Berwick master-planned communi ty in Savannah. Construction is under way on the 252-unit, Class-A apartment community. Initial resident occupancy is expected in late 2023.

New Horizon Family Health Services said it was recognized by the Health Resources and Services Administration for quality improvement achievements in the areas of access, quality, health equi ty and health information technology. New Horizon operates medical offic es in Greenville, Greer and Travelers Rest, a dental office in Greenville, two mobile medical units and a mobile den tal unit. It is financially supported by the Health Resources Services Administra tion (HRSA) of the U.S. Department of Health and Human Services under the Public Health Service Act.

Electrician opens Greenville office

Mister Sparky, a provider of residential electrical services, announced an office at 1200 Woodruff Road, Suite G16, Green ville. Mister Sparky of the Upstate is owned and operated by Rivers Dawson, a former electrical supervisor with expe rience in the home service industry. A family-run business, Dawson’s wife and daughter are both involved in the new business venture, managing day-to-day operations, dispatching and taking calls.

McCrory receives construction awards

BBB

Better Business Bureau recognizes area businesses

Better Business Bureau of Upstate South Carolina said it awarded The Salvation Army of Greenville and Bridge City Coffee with BBB Applause Awards for

Greenville company to manage Hilton Head hotel

Greenville-based Aileron Management announced the management acquisition of the Holiday Inn Express Hilton Head, a 153-room resort-style hotel in Hilton Head Island. The hotel is Aileron’s sec ond South Carolina hotel, expanding the company’s portfolio to eight properties. The hotel was purchased in September by PassiveInvesting.com, a private equity real estate firm.

Counseling practice opens in Greenville

Greenville native Dede Norungolo, a cer tified rehabilitation counselor, launched a private practice called Reintegrate Coun seling with an office at 318 W. Stone Ave., Greenville.

The practice, which provides virtual ser vices in addition to its physical location, provides support to individuals learning to adjust to life after trauma, accident, injury or job loss. For more information, visit www.reintegratecounseling.com

College basketball tournament coming to The Well Bon Secours Wellness Arena, in partner ship with Furman University and Visit GreenvilleSC, announced the inaugural Greenville Winter Invitational, a multi ple-team basketball tournament taking place at The Well Dec. 17. The one-day, sixteam tournament will feature matchups between the men’s basketball teams from Furman University, Clemson University, University of South Carolina, East Caroli na University, Stephen F. Austin State Uni versity and the University of Richmond. Tickets are on sale now. For information, visit www.bonsecoursarena.com

Fuel names grant recipient

Greenville marketing agency Fuel said it has selected Aqua Angels to receive pro bono services as the Fuel for Good Grant recipient for the fourth quarter. Aqua Angels provides affordable and accessible swim lessons, water safety training and lifesaving certifications for adult commu nities throughout the Upstate. Founded in 2021, the nonprofit has more than 500 adults registered through the program.

Joan Herlong sets 2022 sales record

The Clemson office of Joan Herlong & Asso ciates Sotheby’s International Realty said it set a 2022 home sales record with a $4.4 mil lion sale at 386 Peninsula Ridge in Sunset. The 5,460-square-foot waterfront home was designed by Wright Design in Greenville and is part of the Reserve at Lake Keowee.

McCrory Construction said it received two awards for its work on the man ufacturing facility in Anderson for Pregis. McCrory said it received the 2022 National Design-Build Award of Merit from the Design-Build Institute of America (DBIA) in the Industrial/Pro cess category. McCrory is one of three contenders for DBIA’s National Award of Excellence in this category and is a finalist for DBIA’s Best Small Project award. Pregis’ facility also won Best Project – Manufacturing in Engineering News-Record’s (ENR) 2022 Regional Awards competition.

West End Baseball to relocate

Verdae said it repurposed its first bigbox retail to be the new home of West End Baseball, which has been located off of Dunbar Street near Greenville High School since 2010. West End Baseball plans to move into a 12,000-square-foot space at 20 Haywood Road, which is part of the shopping center at the corner of Haywood and Laurens roads. “

Spectrum donates to sheriff’s office

Spectrum said it donated $7,500 to the Greenville County Sheriff’s Office. The donation has been used for emergency response training and equipment for the SWAT team.

of the Upstate cutline: Bea Smith, community relations and development director, and Major Andrew Kelly, area commander for The Salvation Army of Greenville.

People in the News

ADVERTISING, MARKETING & PR

Infinity Marketing promoted Ryker Webb to media buyer. Webb started at Infinity in 2021 as a media coordinator after graduating from the University of South Carolina.

Crawford hired omas Catoe as content marketing specialist. Catoe is a recent graduate of Clemson University.

of the National Center for Construction Education and Research (NCCER).

LCK, the project management partner of Colliers South Carolina, hired Palen Rhodes to its Greenville-Spartanburg as a senior project manager. He relocated to the Upstate from Nashville.

LAW

Crawford promoted Emily Moseley to associate director of public relations. Moseley joined Crawford in 2014 and has nearly 15 years of experience in public relations across a variety of industries.

Waypost Marketing hired Kaleb Dill as marketing coordinator. Dill previously worked as a marketing specialist at Clemson University.

Clayton Construction Co. Inc. hired Taylor Fisher as director of business development. He previously worked at Spencer Hines Properties as a vice president and commercial broker associate for the past seven years.

ECONOMIC DEVELOPMENT

The Upstate SC Alliance hired Samantha Spratt, a trilingual Brazilian-American dual national with experience in international business development, as business recruitment officer. She previously served for five years as executive director of the European American Chamber of Commerce-Carolinas.

HEALTH CARE

Haynsworth Sinkler Boyd P.A. announced that eodore B. DuBose was elected a fellow of the American College of Bond Counsel. The College includes 221 fellows. DuBose has more than 33 years of experience counseling South Carolina governments in public finance and related matters.

Haynsworth Sinkler Boyd P.A. hired Suyash S. Raiborde as special counsel. Suyash represents governmental entities and non-profits in financing large-scale projects through the issuance of various municipal bonds and other obligations.

MANUFACTURING

its board of directors: Phil Carter with Compass South Appraisals; Jon Moldovan with Anvil Marketing Co.; and Richard Muncaster with Muncaster Financial Group.

The YMCA of Greenville named John Derwent executive director of the George I. Theisen Family YMCA branch in Travelers Rest. Derwent. has served in different roles at YMCA associations across South Carolina and Maryland for more than eight years. Most recently, he served as vice president for the Foothills Area YMCA in Seneca.

Cody Wright joined Rebuild Upstate as community engagement specialist. Wright previously worked for The Lot Project as a development director.

REAL ESTATE

Berkshire Hathaway HomeServices C. Dan Joyner Realtors announced that Kirk Williams Smith joined the company’s Pelham Road office as a sales associate. He previously worked in the restaurant industry.

BANKING & FINANCE

Don Clardy, a partner and private wealth advisor with Upstate Legacy Planning Group, an affiliate of Northwestern Mutual, earned the Chartered Special Needs Consultant certification. The credential is designed to prepare financial advisors to help plan for those with special needs.

Broadstreet Inc. announced that Amanda Plesser, owner of The Plesser Group, has been appointed director of human resources and recruitment for Broadstreet. Plesser has more than 20 years of recruitment experience in the financial industry.

CONSTRUCTION

Ashley LaVerdure, operations manager and instructor for the Greenwood Genetic Center’s Division of Education, has been selected to serve on the board of directors of the Mobile Laboratory Coalition, an international community of traveling STEM outreach programs.

HOSPITALITY

Hotel Hartness hired Christina Cole as catering sales manager. Cole previously worked as the sales and catering manager at the Spartanburg Marriott.

The Reynolds Company, a Greenville-based subsidiary of Itochu International Inc., announced the retirement of CEO Neel Reynolds, who will continue to lead as senior advisor to the CEO until March 31, 2023. Douglas Deitz, who joined Reynolds as vice president of sales and marketing in 2018, was promoted to president in February and will now serve as CEO and president.

MUNICIPALITIES

Mauldin City Council appointed Seth Duncan as city administrator to take over the responsibilities from Rebecca Vance, who has been serving as interim city administrator. Duncan most recently served as city manager for the city of York.

Berkshire Hathaway HomeServices C. Dan Joyner Realtors announced that Christian Sevakis joined the company’s Anderson office as a sales associate. He previously worked at USPS.

Berkshire Hathaway HomeServices C. Dan Joyner Realtors announced that Eileen Donnelly joined the company’s Midtown office as a sales associate. She previously worked in healthcare.

Omega Construction hired Don Warren to lead its new Upstate operation. Warren is a licensed general contractor in South Carolina, North Carolina and Georgia and a past board member

HUMAN RESOURCES

Daniel Fowler joined Forge Search and Consulting as a recruiter. Fowler previously worked for four years the men’s basketball team at Furman University as director of recruiting and special assistant to the head basketball coach.

NONPROFITS

Nick Kulick, Brooke Perkins and Ashley Weekly of Rebuild Upstate have earned Certified Aging in Place Specialist certification.

Better Business Bureau serving Upstate South Carolina added three new members to

Berkshire Hathaway HomeServices C. Dan Joyner Realtors announced that Tamiann Adams joined the company’s Spartanburg office as a sales associate.

Berkshire Hathaway HomeServices C. Dan Joyner Realtors announced that Cassidy Jenkins joined the company’s Spartanburg office as a sales associate. She has more than five years of real estate experience.

Webb

Catoe

Moseley

Dill

Rhodes

DuBose

Derwent

Smith

Sevakis

Donnelly

Raiborde

Reynolds

Duncan

Deitz

Fisher

Spratt

LaVerdure

Warren

Alumni honor Genoa stalwart with endowment

Two Clemson University School of Architecture alumni have established an endowment in honor of Silvia Siboldi Carroll, the long-time administrative director of the Charles E. Daniel Center for Building Research and Urban Studies in Genoa, Italy.

The Silvia Carroll Endowment will support students studying abroad at “the Villa” in Genoa, which is part of the School of Architectures’ international “fluid campus” system, and which celebrates its 50th anniversary in 2023.

“My business partner, Luke Jarrett, and I strongly believe in the power of travel,” Todd Richardson, principal at Synchronicity Land + Architecture, said in a university news release. His gift seeded the endowment. “We believe in the experiences and enlightenment travel embodies by opening our eyes to new cultures, alternative ideas and different ways of living. We bring those experiences from the outside world inside our firm walls to create beautiful places and spaces for people to live.”

Although Richardson and Jarrett both missed out on the chance to study in Genoa during their Clemson experience, they said they are committed to making it available to future generations of stu-

dents.

“At the heart of this experience is Silvia Carroll, the steward of our Villa,” Richardson said in the release. “Her orchestration has been paramount to the transformation that has happened — and that continues to happen — inside each student who has studied in Genoa.”

Since its opening in 1973, the Villa has

accommodated more than 1,500 Clemson students. That experience has been made possible with the support of Clemson friends and alumni via the Clemson Architectural Foundation, which owns the property and continues to offer financial support.

Carroll has worked at the Villa for 40 years, first joining its staff in 1982 and

advancing to administrative director in 1995. A native of Italy, Carroll serves many roles, including manager, legal representative, social director, and translator for the students there. In 2018, she was named an honorary alumna of Clemson. The Clemson University Alumni Association reserves honorary alumnus status for individuals who have been nominated by Clemson peers for their outstanding service, lifelong devotion and loyalty to the university.

“Even though Silvia Carroll has spent most of her career in Genoa, she is a Clemson person in her heart and in everything she does,” Clemson President Emeritus James F. Barker, also a graduate of the architecture program, wrote at the time.

The Silvia Carroll Endowment travel fund Grants-in-Aid for School of Architecture students studying at the Villa.

Under the architecture school’s fluid campus program, students are encouraged to spend at least one semester studying at one of three architecture centers placed in cities known for architecture: Genoa; Barcelona, Spain; and Charleston.

By Ashlie Puma

We have to wonder what the Fed really understands

The Federal Reserve did what was expected by raising the funds rate 0.75% to a range of 3.75-4.0%. It also indicated that it would soon be appropriate to slow the pace of tightening. That, too, was expected. But the euphoria was short-lived when Fed Chair Powell added in the post-meeting press conference that the “ultimate level of interest rates will be higher than previously expected.” That was not expected and sent the markets in a tizzy. The Fed’s thoughts about the new peak funds rate were not available at this meeting but will be released following the next FOMC gathering on December 13-14. Unfortunately, leaving such a statement open-ended set off a flurry of speculation. In September the Fed suggested that the funds rate would peak at 4.6% at the end of this year. Is he now talking about 5.0%? 5.5%? Higher? How high does the Fed think the “real” funds rate might go? When does it get to that level? Which measure of inflation will it use to make that determination? We wonder why everybody remains

so laser-focused on the Fed and overanalyzes every utterance from a Fed official. The reality is that the Fed has not understood what was happening with inflation since it first began to rise rapidly in early 2021. As a result, it was at least a year late in initiating the tightening process. The first rate hike was not until March 2022. Meanwhile, it has steadily upped its assessment of the peak funds rate –from 2.1% in December of last year to 2.8% in March, 3.8% in June, and 4.6% in September. Who knows what it will say next month? But given this track record, who cares?

The Fed seems to think that a +0.5% real funds rate represents a “neutral” policy stance. It envisions a 2.5% funds rate coupled with a 2.0% inflation rate. That may not be a bad assessment when inflation is steady around its targeted 2.0% pace. But inflation is not even close to 2.0% and who knows exactly when and how quickly it will retreat?

Historically, when the Fed has embarked on a path of tightening, the funds rate has had to rise several percentage points higher than the inflation rate to slow the economy and reduce inflation. For example, prior to the 2008-09 recession the real funds rate climbed to +3.0% before the economy finally began to respond. In the 2000 recession it was +4.0%. And in the late 1970’s when

inflation rate was double-digit and well entrenched it took a real funds rate of +8.0% to do the trick.

The calculation of the appropriate real funds rate going forward is tricky. The real funds rate depends, of course, upon the level of the funds rate. Our sense is that the Fed will continue to raise the funds rate from 4.5% at the end of this year to 6.0% by the middle of next year. That seems high, but the real funds rate by that time will be slightly less than +2.0% depending upon which measure of inflation one chooses to use.

The CPI is the most widely recognized inflation measure. By the middle of next year we believe the core CPI will have slowed from 6.0% currently to 4.4%. The Fed’s preferred measure of inflation is the core personal consumption expenditures deflator. We estimate the core PCE will have slowed from 5.1% currently to 4.1%. If the funds rate is 6.0% the real funds rate by the middle of next year will be somewhere between 1.6-1.9% depending upon which inflation measure one chooses to use. So while a 6.0% funds rate may sound high, in real terms it is not excessive.

From the Fed’s viewpoint there is little danger of dumping the economy into a recession with a 6.0% funds rate and a real rate between 1.6-1.9%. If the economy should begin to slide, the Fed can

quickly lower the funds rate to provide the required stimulus. The starting point will not be far from where it should be normally. That is in sharp contrast to earlier this year when the funds rate was 0.2%, core inflation was 6.4%, and the real funds rate was -6.2%. What in the world was the Fed thinking by letting that happen? It believed at the time that a neutral funds rate was +0.5%. How could it have been concerned that raising the funds rate -- multiple times -- would run the risk of pushing the economy into recession? That makes no sense. Even today with the funds rate at 4.0% and the core CPI at 6.0%, a -2.0% real funds rate carries with it little risk of over-tightening and triggering the long-awaited recession. By the middle of next year the story may be a bit different. The real funds rate will be much higher and the economy will be much closer to the recession which we expect to begin in early 2024.

From 1980 until 2003, when he retired, Stephen Slifer served as chief U.S. economist for Lehman Brothers in New York City, directing the firm’s U.S. economics group along with being responsible for forecasts and analysis of the U.S. economy. He has written two books on using economic indicators to forecast financial moves and previously served as a senior economist at the Board of Governors of the Federal Reserve in Washington, D.C. Slifer can be reached at www.numbernomics.com.

SLIFER

For nearly 50 years Clemson architecture students have lived and studied at The Villa. (Photo/Provided)

Viewpoint

VIEWS, PERSPECTIVES AND READERS’ LETTERS

Considerations before developing beyond city limits

We often hear that all of the easy sites are gone.

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

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

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

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

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

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

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

Outreach to local officials and stakeholders is also critical. Developers should meet with municipal staff in advance and introduce themselves and their project to local officials and decision makers. As part of those conversations, developers should be ready for questions about nonresidential uses such as retail and other

elements they’re not ready to develop because the density may not be there to support it. They should also be aware of the tug and pull between homeowners who want larger lots (and home values) and elected officials seeking more affordable housing solutions, which often result in smaller lots and increased density.

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

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

residents who have concerns about traffic. Those measures can also be worked into the budget.

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

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

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