Charleston Regional Business Journal - June 1, 2015

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June 1 - 14, 2015 • www.charlestonbusiness.com VOLVO IN SOUTH CAROLINA

VOLVO HOW SOUTH CAROLINA LANDED THE CAR MAKER

Benefitfocus CEO gives $25M for children’s hospital By Ashley Heffernan

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The Road The story of to Ridgeville the Volvo deal

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The ‘Volvo Effect’

‘Change is coming’

A timeline charting the first

Gov. Nikki Haley talks about

How the state’s third car plant

Ridgeville residents see growth,

phone call to the final decision

tense negotiations, site swap

will grow the automotive sector

jobs coming to their small town

THE ROAD TO RIDGEVILLE

Find in-depth reports on the deal that brought Volvo to S.C. and what’s next. Special Section: Page 35

S.C. State issues New board elects chairman, gets rundown of school’s problems. Page 3

Building with collaboration

T

aheffernan@scbiznews.com

he CEO of Daniel Island-based software company Benefitfocus donated $25 million to the Medical University of South Carolina for its new children’s hospital and women’s pavilion. Shawn Jenkins will receive full naming

BEHIND THE SCENES

New digital production arts degrees in Charleston to help local filmmakers develop a talent pipeline, but animators might be stuck in the fundraising phase without access to state incentives. Page 6

GreenBy3 works with contractors to manage projects, source material. Page 11

INSIDE Upfront............................. 2 In Focus: Architecture, Engineering and Construction................. 11 List: Architecture Firms............................. 26 At Work.......................... 31 People in the News......... 31 Business Digest.............. 31 Hot Properties................. 34

Volume 21, No. 12 •  $2.00

A still image from one of Moondog Animation Studio’s Orbie for Orphans animated episodes.

rights to the hospital, according to MUSC Vice President for Development Jim Fisher, who made the announcement in mid-May. “The university’s naming guidelines stipulate that any person or entity providing at least half the philanthropic funding needed to execute any capital improvement here at MUSC becomes eligible to have his or her name placed on that capital improvement,”

Fisher said. The hospital’s goal is to raise $50 million from donors prior to construction as a down payment on the $350 million price tag. So far, about $40 million has been pledged. The new hospital will be named the MUSC Shawn Jenkins Children’s Hospital. It will See MUSC, Page 8

Charleston School of Law cutting faculty, facilities By Ashley Heffernan

C

aheffernan@scbiznews.com

harleston School of Law will remain open and accept new first-year students in the fall, but there will be some downsizing. A cost-cutting initiative is allowing the institution to remain open, school spokesman Andy Brack said May 22. “The school’s landlords are cooperating with the school in efforts to consolidate facilities. Also, the school’s yearlong effort to reduce the size of the faculty and staff to a level consistent with the reduced enrollment will continue and begin to have a budgetary impact in September,” Brack said in an emailed statement. Since last May, 24 staff members and four faculty members have left the school through buyouts, voluntary separation packages and attrition, according to Brack. A news release from the school said, “Even with these right-sizing efforts, expenses still continued to outstrip revenues.” An additional seven faculty members were terminated the day of the announcement. “It’s been hard to lose these members of our staff and faculty, but it’s been a necessary See SCHOOL OF LAW, Page 9

CHARLESTON UNDER CONSTRUCTION Who is building what in the Charleston area? Projects, companies, prices, projected timelines, photos and stories. Page 11


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