JANUARY 3, 2014
THE NATURAL GAS
BOOM The gaspowered future has reached far beyond the oil fields and into the Upstate
Volume 3, Issue 1
January 3, 2014
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WORTH REPEATING “Growing a diverse workforce doesn’t just happen. It requires deliberate, intentional conduct.” Jennifer Johnsen, shareholder at the law firm of Gallivan, White & Boyd, on the importance of being deliberate with hiring practices.
“We must adjust to corporate hesitancy to ‘pull the trigger’ on major capital investments.” Stu Heishman, Duke Energy’s VP of economic development, expressing cautious optimism about upcoming projects in 2014.
“Now companies are making the decision to move forward, and with very aggressive schedules. They want that asset to be producing product and profits as soon as possible.” Brian Gallagher, director of marketing at O’Neal, on the construction company’s uptick in work, partly due to the natural gas boom.
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Work has begun on the update and renovations of the Bank of America Tower in downtown Greenville.
VERBATIM
On Livin’ for the City… “Make the trek to this city midway between Charlotte and Atlanta, and you’ll find a quality of life so high, a downtown so vibrant, and tax incentives so tempting that individuals and businesses alike are flocking here.”
TBA Look for construction to begin in May for a new CVS at Faris Road and Augusta…
Southwest Airlines Spirit magazine, highlighting Greenville for its vitality, calling it “a small wonder of enterprise and renewed faith.” Read the whole thing at spiritmag.com/ features/article/be_here_now.
UPSTATE BUSINESS JOURNAL
January 3, 2014
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UBJ UP FRONT
The Next Page
Tailored
by the Purveyors of Classic American Style
By Jennifer Oladipo | senior business writer | joladipo@communityjournals.com
Our growth means better balance in our pages and some more opportunities to delve deeper into our beats. I’ll be sticking with other beats like retail, hospitality, tech, biosciences and finance. To me our growth means better balance in our pages and some more opportunities to delve deeper into our beats. I wouldn’t call them resolutions, but there are certainly some leftovers
MAKE YOUR CLOSET AS SUCCESSFUL AS YOUR BUSINESS—FOUR EASY STEPS Planning your business wardrobe is a very important decision in improving your business. Whether you dress in a suit every day or more casually, how you “package” yourself is part of your branding. Your wardrobe is part of your calling card—your brand. So when planning for the next year in your business, you should plan to go through your closet to reorganize it to work for you more efficiently in the coming year.
Jennifer Oladipo
from last year I aim to address. Stories that didn’t get the attention I would have liked, sit-downs I didn’t get to have. For example, I had really wanted to spotlight the “reshoring” trend of manufacturing moving back to the United States from overseas. I touched on that just a bit in this week’s cover story, but there’s a whole lot more we can delve into there. I’ve also wanted to give our nonprofits more attention, which will happen this year. Even though we’ve technically had a couple of holidays in the past week and a half, it was hard to register that amid the compressed deadlines needed to work around the festivities. My exhale and time for reflection really come now. I picked up a planner for myself along with a couple of last-minute Christmas gifts, and couldn’t wait to start filling it out. Yes, it’s paper. Yes, it’s slower. But I like it. There’s something gratifying about watching the year-to-come unfold, one date, one line, one pen stroke at a time.
Start with four easy steps in reorganizing your closet: 1. Clean out the closet completely. 2. Take Inventory and inspect your clothes. Start with your business clothes, and move to your casuals. Try them all on to make sure they fit. Inspect for tears, split seams, broken buttons, and frayed edges. For simple repairs, alterations, and proper fit take them to a “trusted tailor.” If you haven’t worn it in years, donate it! 3. Evaluate your needs and invest. Maybe you need another suit, new shirts, dress or casual trousers. Don’t just add items, but plan your new purchases to work with your existing wardrobe. This is where an experienced clothing consultant may help. 4. Maintain your closet. Make sure your garments are properly pressed. Build a good relationship with a trusted cleaner. Your clothing may not always need to be dry cleaned. Ask your cleaner to “press only” your garments and you will extend the life of those items. Make sure your suit and sport coats are on wide wood hangers, not wire hangers. This will maintain the shape of the shoulders of the coats. Keep cedar shoe trees in your shoes and brush and polish your shoes regularly. Rotate your suits, business casual wear and shoes. Don’t wear the same items days in a row. Give them a rest and they will wear and look newer longer. A well planned and organized closet will make your life and business wardrobe more efficient, giving you more confidence in everything you do.
23 West North Street, Greenville, SC 29601 864.232.2761 | www.rushwilson.com Open Mon.-Sat. 9:30am - 5:30pm Wed. 9:30am - 1:00pm
January 3, 2014
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The various holidays are over, and please know that you were missed in your time away. The thoughtful out-of-office responses were appreciated, but also a touch depressing as they mounted in recent weeks. I’m glad we’re all back together and ready for the New Year. Next week you’ll see what your fellow community members have to say about what they think the coming year will bring for us all. Our editorial staff will also offer our take on the near future, so I’ll save my predictions for then. Instead I’ll stick to what I know for certain, which is that change (as usual) is afoot here at UBJ. We’ll be welcoming a new writer, Joe Toppe. He will start Jan. 6, and I’m personally pretty fired up to see our team expanding. His arrival will mean some reshuffling of our beats, and from now on you can expect to see Joe’s name and face popping up when it concerns matters of economic development, transportation and manufacturing. He’s got some other exciting talents and interests, but I’ll let him tell you about those. Or maybe he’ll just show you.
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UBJ REAL ESTATE
Work Begins on Bank of America Tower
(TOP PHOTO) Work has begun on plans by the Hughes Development Corp. to update and renovate the Bank of America Tower in downtown Greenville. The multimilliondollar plan includes lobby renovations, an upgrade to the elevators, a change to the base of the building’s first four floors and a new glass facade for the building. The first floor of the building, originally completed in 1974, will be used for retail space. (ABOVE & RIGHT) Demolition of the parking structure next to the Bank of America Tower is nearing completion. Once the parking structure is removed, construction of a new 474-space parking garage and 144-room Aloft Hotel will begin. A wrecking ball was used to break up the concrete floors of the old parking structure.
Photos by Greg Beckner
UBJ HEALTH CARE
AnMed, Cannon Memorial Cement Affiliation By Jennifer Oladipo | senior business writer | joladipo@communityjournals.com
AnMed Health and Cannon Memorial Hospital in Pickens entered an integration agreement that became effective Jan. 1, fully integrating Cannon into the AnMed health system. The 55-bed Cannon Memorial had already been under a management agreement with Anderson-based AnMed since 2009. Under the new agreement Cannon will remain a separate, member-owned nonprofit corporation, and the most significant changes will occur at the board level. Cannon will maintain its own board of trustees comprising members from both organizations. Cannon members are Tim Morgan, Linda Cassel and Donald Marler; AnMed members are Bill Manson, Garrick Chidester, Jerry Parrish and Mike Tillirson. Cannon Memorial President and CEO Norman Rentz said in a statement that the affiliation would increase Cannon’s capacity to deliver more services. “The health care industry is changing rapidly, and often such rapid shifts in the health care environment limit a smaller hospital’s capacity to effectively provide the necessary and diverse services expected by its community. AnMed Health shares our commitment to quality and patient-centered health care and
Cannon believes that integrating with AnMed Health will better position Cannon Memorial to provide quality, innovative and specialized care to all residents of Pickens County,” Rentz said. Cannon’s CEO and CFO were already AnMed Health employees under the 2009 agreement. AnMed has more than 3,600 employees, and Cannon’s 300 employees will remain employed by Cannon and report to the same supervisors under the new agreement. Ross Norton, AnMed spokesman, said the benefit of the 2009 agreement to Cannon was most evident in purchasing power that came with larger numbers. However, it also opened some doors for medical care. Now, AnMed Health will help Cannon serve the needs of the community and will begin by recruiting specialists to serve Pickens. Norton said Rentz told staff that any future changes at Cannon would be “because change is afoot in the industry anyway, and not because of the integration with
AnMed Health.” AnMed Health CEO John A. Miller Jr. said the move was also a strategic one for AnMed, which affiliated with Elbert Memorial Hospital in Georgia, and Carolinas HealthCare System, which includes 30 hospitals in North and South Carolina. Cannon was included in
the Carolina’s Healthcare affiliation when AnMed joined in 2009. “As the national health care landscape changes, AnMed Health works continually to adjust and stay ahead of those changes,” said Miller. “Today, efficiency in health care is found in building solid relationships and networks to handle financial, technological and medical challenges. Our integrated relationship with Cannon Memorial Hospital is part of that strategy.”
Rick Davis, CPA Firm Managing Shareholder
Business-minded and solution-driven to help you operate stronger, wiser, better. Elliott Davis advises businesses on how to run efficiently, grow wisely, and be more profitable. Our team provides everything from audit and tax solutions to highly specialized advisory services across the spectrum of industries. Georgia • North Carolina • South Carolina • Virginia www.elliottdavis.com
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UBJ GUEST COLUMN
By JENNIFER JOHNSEN
5 Strategies for Promoting Workplace Diversity Strong diversity management can provide organizations with a competitive advantage in the market. As global and regional demographics change, the continued growth of an organization may depend on attracting and retaining qualified employees who offer different perspectives and are better able to understand the diverse backgrounds of the customers, clients and communities they serve. In order to attract and retain these highly desired employees, organizations need to work diligently to incorporate an effective diversity program into the workplace. These five strategies can help organizations develop and leverage their diversity programs.
1.) DIVERSITY PROGRAMS MUST BE ALIGNED WITH STRATEGIC PLANS – One of the keys to the long-term success of a diversity program is to develop a diversity strategy using the same deliberate goal-setting processes used to formulate traditional business-related goals. What is the goal of diversity at your organization? How broad is your diversity focus? Strategic plans around diversity should include quantitative goals along with specific timelines for reaching benchmarks and measuring progress, all of which provide direction and promote action by employees. And having a well-defined strategy will help your business attain its goals, whether those goals are to provide better service to clients, create a more inclusive workplace culture, recruit and retain highly-qualified and talented diverse employees, or implement programs which will create a pipeline of talent for the future.
2.) CREATE A DIVERSITY COMMITTEE – Employee buy-in is essential to accomplishing the goals of your diversity program. One way to achieve it is to create a stand-alone diversity com-
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Growing a diverse workforce doesn’t just happen. It requires deliberate, intentional conduct. mittee representing all facets of your organization, not just your top executives, and make sure your organization’s leadership plays a visible role. Empower the diversity committee to develop a diversity statement which is consistent with your strategic goals and empower the committee to develop programs to support diversity. Such programs may include lunchand-learns with featured speakers, diversity workshops, mentoring, community outreach programs and the creation of workplace affinity and employee resource groups.
3.) BECOME INVOLVED IN THE COMMUNITY – Encourage employees to participate in professional and civic organizations that promote diversity. Involvement with these organizations not only provides excellent networking opportunities, but also fosters collaborations that may enhance access to a larger pool of diverse candidates. Community involvement has the added benefit of strengthening relationship among employees as they come together to serve groups they are passionate about. Many organizations in South Carolina exist that recognize the benefits afforded by a diverse workforce. For example, the South Carolina Chamber of Commerce, the Greenville Chamber of Commerce and the Riley Institute
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January 3, 2014
at Furman University have come together with a group of businesses in South Carolina to create the Diversity Recruitment Consortium. The DRC works together with businesses to develop innovative programs, practices, and processes to increase the diversity of professional and executive talent in South Carolina based organizations.
4.) BE DELIBERATE WITH HIRING PRACTICES – Growing a diverse workforce doesn’t just happen. It requires deliberate, intentional conduct. If the pool of qualified applicants you are seeing does not reflect the diverse demographics of the region or the clients you are serving, you may need to expand your search beyond traditional hiring sources. For example, in the legal field, a source for potential candidates is historically black law schools or through regional job fairs, not just recruiting at traditional venues. Of course, diversity goes beyond gender and race. Does your candidate have a passion for the arts or music? Does he or she self-identify a particular religious preference or cultural interest? Many times a candidate
won’t accept a job because of misperceptions about the diversity (or lack of diversity) of the organization or geographical area. How do you combat those misperceptions? One way is to expose the candidate to a broad range of personnel in the recruiting process; another is to provide your candidate with access to information and people who can address any unique issues or concerns he or she may have. Don’t be afraid to think outside the box to “seal the deal.”
5.) USE COMPANY INTRANETS – If you have a company intranet, include a diversity page where the diversity committee can post updates and information about what the organization is doing from a diversity standpoint, upcoming community events and other relevant programs. At Gallivan, White & Boyd (GWB), we introduced an initiative called “Sharing Our Story” which features interviews of different members of the GWB team, highlighting what makes them unique. As our office has grown from one to three locations, this initiative has provided us with an opportunity to get to know employees at our other offices who we don’t get a chance to see very often. Workforce diversity and inclusion promotes employee productivity, retention, team collaboration and commitment, all of which ultimately add value to the services provided to clients. In an increasingly competitive business environment, every advantage is important. A successful diversity program can give organizations an edge if the program is managed correctly, supported by leadership and employees at all levels, and aligns with the business strategies of the organization.
Jennifer E. Johnsen is a shareholder at the law firm of Gallivan, White & Boyd, P.A. (GWBlawfirm.com). She chairs GWB’s Diversity Committee and is a former member of the firm’s executive committee.
UBJ INNOVATE
By JOHN WARNER
2014: The Year of the Equity Crowdfunder? Will 2014 be the year equity crowdfunding arrives in big way for us? Maybe, if we get our act together. The world’s most popular crowdfunding site is Kickstarter, whose pioneering experience highlights crowdfunding’s huge upside potential, as well as its downside risk. Kickstarter started out as a site for creatives producing artistic works like movies to raise resources over the Internet. Soon consumer technology companies began preselling proposed new products so they could raise the resources to actually develop them. Successful crowdfunding campaigns have raised from tens of thousands to over a million dollars for new product launches. Here’s the trick, though. Raising resources is one thing; delivering on the promise for a new innovation is another. While many new product launches on Kickstarter are successful, a high enough percentage are running into serious problems that it is hurting Kickstarter’s credibility. So the Kickstarter founders are returning to their roots as a site for creatives to raise resources to produce art, not new products.
Equity crowdfunding is the ability to raise capital over the Internet by selling stock. While equity crowdfunding is already popular around the world, until very recently it was illegal in the United States outside of an expensive and highly regulated initial public offering process. IPOs are unrealistic for most entrepreneurs who are limited to raising capital through private placements to people they already know through “preexisting relationships.” Most of the people entrepreneurs can raise money from have to be “accredited investors,” but most entrepreneurs don’t know enough individuals with the required net worth of over a million dollars not counting their primary residence. The JOBS Act passed by Congress in 2012 makes equity crowdfunding legal in the U.S. The Securities and Exchange Commission doesn’t like crowdfunding because it focuses on the downside of investors being ripped off. The SEC issued enabling crowdfunding regulations in September 2013, but with restrictions so onerous few entrepreneurs will
A big lesson of crowdfunding is that as hard as it seems to raise resources, someone has to follow up over time to make sure the promises are kept. be able to conduct crowdfunded offerings. Equity crowdfunding has the potential to be huge with the right infrastructure, but it isn’t a panacea to the problems of entrepreneurs raising capital themselves. Even though it is possible to sell securities over the Internet, an entrepreneur actually closing the sale of securities to someone he doesn’t already know is a different matter. AngelList, where equity crowdfunding can be done today, recently published a success story of a startup entrepreneur who began with an investment from a successful serial entrepreneur he knew in Silicon Valley. This investor introduced the startup to many of his Silicon Valley friends, who ultimately invested close to $2 million. The problem with this approach for most of us is that we don’t know a successful serial entrepreneur in Silicon Valley to start with. Twenty years ago I
was doing a form of equity crowdfunding way before it was cool. I founded Capital Insights to raise capital for entrepreneurs, starting with a small group of 15 wealthy individual investors. We identified around 1,000 people we knew who were also accredited individuals and asked if they would be interested in receiving information from us about investment opportunities. A few hundred said yes, which created the preexisting relationship we needed to share private placements with them. Over four years we raised around $15 million from 150 wealthy individuals. AngelList and Capital Insights both worked, but solo entrepreneurs can’t replicate them. A big lesson of both Kickstarter and Capital Insights is that as hard as it seems to raise resources, someone has to follow up over time to make sure the promises are kept. Capital Insights’ most successful investment by far was Earth Fare, which grew into the country’s largest regional organic grocery store chain. It was more than eight years from the time we first invested to getting the last of our proceeds from selling the company. Failing to execute a product launch may get you sued by an angry early customer. Screwing up an equity crowdfunding campaign risks violating a securities law and going to jail. The most successful crowdfunding models are built around starting with whom you know and proactively working out from there to people you don’t know. Maybe 2014 can be the year equity crowdfunding arrives in big way, if we put the infrastructure in place to do it right.
John Warner is CEO of InnoVenture.com, which empowers entrepreneurs to create the future by running campaigns to attract resources from their mail and social network contacts, their team members’ contacts, and networks they participate in.
January 3, 2014
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UBJ GUEST COLUMN
Economic Developers See Strength Ahead for 2014 KI Logistics announces a new North American headquarters and logistics facility at The Matrix Business and Technology Park, adding 149 jobs. Fitesa Simpsonville plans to expand operations for the global hygiene market, investing upwards of $50 million. Internationally renowned dessert maker Sweet Street Desserts will invest millions in its first South Carolina facility, creating 80 positions. And in December, Materials Sciences Corporation announced it would develop highly advanced materials for military and industrial applications, adding dozens of positions. With over 1,000 new jobs and $200 million in investment announced in 2013, this has been another banner year for economic development in Greenville County. Many announcements represent expansions by existing businesses – indicating that the county is optimizing conditions for business to prosper here. Most are clustered in GADC target business sectors of advanced materials, automotive, aviation/aerospace, biosciences, logistics, data centers and office, producing jobs whose salaries average over $54,000 annually – helping to raise per capita income. Underpinning these results has been a strong commitment to collaboration, enthusiastically endorsed by County Council. Economic development is a team sport, and the GADC has forged productive working relationships with our cities, chambers, universities, utilities, airports and nearly 140 private-sector investors to benefit Greenville County. In just 11 years, the GADC and its partners have assisted over 200 businesses in expanding or locating here – representing over 16,500 new jobs and capital investment of $2.8
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In just 11 years, the GADC and its partners have assisted over 200 businesses in expanding or locating here – representing over 16,500 new jobs and capital investment of $2.8 billion. In return, the county’s financial contribution to GADC has resulted in more than $7 in taxes paid to Greenville County for every dollar invested in GADC initiatives. Now there’s a return on investment. billion. In return, the county’s financial contribution to GADC has resulted in more than $7 in taxes paid to Greenville County for every dollar invested in GADC initiatives. Now there’s a return on investment. And momentum builds entering 2014. Improving infrastructure is a priority, and as one of a handful of counties nationwide that has earned a coveted triple-A bond rating, Greenville County is well positioned to meet the challenges, notes County Administrator Joe Kernell. “County Council created the Citizen Roads Advisory Commission to gather public input while generating a list of priority road improvements in Greenville County,” says Kernell. “The county has committed more than $18 million to community development and planning, with a large portion of that going towards paving or resurfacing more than 30 miles of county-maintained roads.” Meeting the expanding air travel and air cargo requirements of the Upstate is on the
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mind of Dave Edwards, president/ CEO of the Greenville-Spartanburg Airport District. “Greenville-Spartanburg International Airport will complete over $50 million of terminal construction improvements and begin a last phase of terminal improvements,” notes Edwards. “We’ll also begin expansion to maintenance facilities and con-
struction of a new cargo building.” South Carolina Technology and Aviation Center will serve as host site for a wireless charging research project funded by the U.S. Department of Energy, utilizing a newly resurfaced test track and testing facility. In addition, the first phase of the S.C. Army Air National Guard’s “Center of Excellence” will become operational, bringing locally based aircraft to SCTAC, adds Jody Bryson, president/CEO of SCTAC. Workforce development initiatives are another strategic focus. “CU-ICAR will be building a new facility to accommodate growth, including a graduate student population now over 200,” says Fred Cartwright, executive director
>>
By KEVIN LANDMESSER
>> of Clemson University’s Interna-
tional Center for Automotive Research. “We are also excited about our partnership with Greenville Technical College in forming the Center for Manufacturing Innovation to help address workforce needs in advanced manufacturing, via vertical integration of education, beginning with K-12 students.” As manufacturing expands, so must cargo management. The South Carolina Ports Authority is moving forward with harbor deepening and construction of a new terminal in Charleston, while at the Upstate’s new Inland Port “we expect to move at least 40,000 containers through the Greer Inland Port facility next year,” says Jack Ellenberg, senior VP of economic development and projects. Stu Heishman, Duke Energy’s VP of economic development, is cautiously optimistic about 2014, citing
positive signals in automotive and housing. “Still to come are more new greenfield projects,” adds Heishman. “But we must adjust to corporate hesitancy to ‘pull the trigger’ on major capital investments.” Ensuring plentiful, high-quality water is the focus of David Bereskin, CEO of the Greenville Water System. “We will be focusing on our strategic plan to ensure that community infrastructure needs are being maintained and replaced as necessary,” he adds. Renewable Water Resources also predicts a busy 2014, according to executive director Ray Orvin Jr. “Pump station and line rehab projects will ensure that infrastructure is well maintained, and a new lab and educational facility are in the planning phase,” Orvin notes. “We are also working hard to … ensure water quality improvements.” With such committed partners and
collaborative efforts toward smart development, particularly in infrastructure, Greenville County and the GADC are favorably positioned for recruiting and retaining jobs and investment. GADC staff continues to meet with steady numbers of prospects interested in relocation to or expansion here – thanks to years of focused marketing and outreach. Those efforts will be enhanced further as a
result of a target industry analysis completed this summer by two national consulting organizations. Today’s global economy is challenging. Yet in Greenville County, our future is bright, and getting brighter. Kevin Landmesser is interim president and CEO of the Greenville Area Development Corporation. He can be reached at 864-235-2008 or klandmesser@greenvillecounty.org.
The Upstate Business Journal welcomes expert commentary from business leaders on timely news topics that relate to their specialties, especially little-known but significant issues they feel are pertinent to business readers. Our guest columns run 700-800 words and we welcome supporting art that will help explain your points graphically. Please contact Executive Editor Susan Clary Simmons at ssimmons@communityjournals.com if you are interested in submitting an article for consideration.
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12/3/13 10:21 AM UPSTATE BUSINESS JOURNAL 9
COVER STORY
NATURAL GAS BOOM BUBBLES IN SC ECONOMY With some of the lowest natural gas costs in the country, this region has attracted more businesses and freed up development cash
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By Jennifer Oladipo| senior business writer | joladipo@communityjournals.com
The story of the natural gas boom in America has largely been one of astronomical mining company profits, “man camps” full of workers who’ve gone to jobs in unprepared small towns, and debates over the environmental effects of the extraction processes. But what has come to light in the past year is the ripple effect far beyond the oil fields in places like the Upstate.
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GAS-POWERED FUTURE
In December, the U.S. Department of Energy’s (DOE) early release of its 2014 energy outlook projected that natural gas will replace coal as America’s biggest source of electricity by 2035. Industry is leading the way in that trend – partly due to having more flexibility in how it buys energy – but commercial and residential customers are not too far behind.
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It’s a buyer’s market as the average energy prices for manufacturers have decreased 11 percent from 1998 to 2010. Natural gas is the reason, according to the U.S. Energy Information Administration (EIA). The EIA reported in September that prices for electricity, coal and other energy sources rose during the period, but natural gas prices plummeted 36 percent. South Carolina is one of the states
that have capitalized on the gas boom, and volumes of natural gas delivered to South Carolina’s industrial users increased from about 72 billion cubic feet in 2008 to more than 81 billion cubic feet in 2012, a 12.8 percent increase. Two major contributors were increased use of the “fracking” extraction process to get harder-toreach deposits, and the shale oil boom that began in 2008. These started >>
“While there may have been some up or down movement, the long-term trend and the real numbers are lower than they were five years ago.” DAVID TRUSTY, Piedmont Natural Gas managing director of public relations
>> pushing prices down immediately, and right now they’re at the lowest point since that time, said David Trusty, Piedmont Natural Gas managing director of public relations. When the impacts of hydraulic fracturing and natural gas from shale hit the market, America went overnight from a 60-year supply to more than a 100-year supply at current consumption rates, Trusty said. “Over that five-year period of time, while there may have been some up or down movement, the long-term trend and the real numbers are lower than they were five years ago,” said Trusty. The EIA report showed the South has the lowest prices of natural gas incurred by manufacturers with more than 50 employers; the ultimate effect is freeing up cash to do bigger and better business.
He said his company began to see an uptick at the start of the year from chemical companies and manufacturers in general. He said many companies in that space are optimistic about 2014. O’Neal is getting “projects that were delayed four to five years ago because of market uncertainty, but now companies are making the decision to move forward, and with very aggressive schedules,” he said. “They want that asset to be producing product and profits as soon as possible.” That is also part of a broader trend of companies and jobs returning to the United States, Gallagher said. Natural gas joins rising labor costs overseas, increased automation and a relatively weak dollar among factors bringing more industrial business back this way.
Bringing Business Back Home
More Than Fuel
Those opportunities to save cash on energy costs have helped motivate companies to locate or even return operations to the United States. Low natural gas prices are making the states a prime spot for making things again. All of this has meant more work for construction companies like Greenville-based O’Neal. The company is currently constructing a $115 million plant in Augusta, Ga., for Rockwood Pigments, a manufacturer of pigments for paints, coatings and other materials. “They did look at multiple locations in other countries, and they chose here in the Southeast,” Brian Gallagher, director of marketing at O’Neal.
Natural Gas 101 FRACKING: short for hydraulic
fracturing, process of pumping millions of gallons of water, sand and chemicals underground to break apart rock and release the natural gas.
SHALE GAS: natural gas that is
trapped within shale rock formations.
MAJOR SHALE DEPOSITS: North Dakota, Texas, New York, Michigan.
“Companies are making the decision to move forward, and with very aggressive schedules. They want that asset to be producing product and profits as soon as possible.” BRIAN GALLAGHER, director of marketing at O’Neal
sumption is projected to grow by 22 percent between 2012 and 2025. Even if growth accelerates, the chemical manufacturing renaissance brought on by the natural gas supply is of particular interest in the Upstate.
abrupt bust appears to be on the horizon at this point, the DOE has estimated that prices could start to increase as soon as next year, precisely because of industrial consumption Natural gas is not just a fuel source, and consumption for electricity. but also an important feedstock in Many industry experts say the supply simply cannot continue to chemical manufacturing. Gases extracted from natural gas are used as It’s called a boom for reason: It outpace the demand for long. It also a feedstock for such products as fer- won’t last forever. Although no happens that the man who pioneered tilizers and pharmaceutical fracking in the 1970s, George products. Mitchell, died last year amid a rush The use of natural gas and its of scrutiny over the processes’ derivatives in industrial applienvironmental impacts. About 90 cations is of particular imporpercent of natural gas wells in the tance in the Greenville metro country are using the process, area, which is known to have which has been accused of conFIREPLACE one of the highest concentaminating water supplies and trations of engineers in even causing earthquakes. That controversy forced the country. Industrial GAS FURNACE shipments of bulk some mining companies STOVE chemicals, which to spend more on envibenefit from an inronmental protection. creased supply of Fracking was already a POOL/HOT natural gas liquids, much more pricey WATER TUB HEATER HEATER process than convenare expected to grow by 3.4 percent annutional drilling. ally for the next The complete DOE decade, which is up outlook this spring will AIR GRILL from the DOE’s previgive a fuller idea of what CONDITIONER ous estimate of 1.9 the future holds for natural percent. gas. In the meantime, it GAS DRYER Although the competicontinues to encourage cost tive advantage in bulk chemsavings and investments that icals will diminish in the long have a significant impact in South Carolina. term, industrial natural gas con-
Will It Last?
NATURAL GAS AT HOME
January 3, 2014
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UBJ SQUARE FEET
Drayton Mill Redevelopment Plans Announced Historic property near downtown Spartanburg will become luxury apartment homes Initial plans have emerged for
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the redevelopment of the historic Drayton Mill property located minutes from downtown Spartanburg. Pacolet Milliken Enterprises Inc., the property owner, will act as master developer. Westbridge Partners and TMS Development have reached an agreement to purchase two 111-year-old former mill buildings on the site from Pacolet Milliken and repurpose them into luxury apartment homes, pending approval by the National Park Service. Westbridge Partners and TMS Development plan to create 288 apartment homes out of the former spinning mill and weaving mill, according to a statement released last week by Pacolet Milliken. Located on 10 acres of the site, the two mill buildings feature exposed heavy timber construction, 16-foot ceilings and maple floors. Construction on Drayton Mills Apartments is expected to begin in the spring of 2014, with Durham, N.C.-based Belk Architecture as the architect and Gay Construction Co. of Atlanta, Ga. as the general contractor. All four firms –
Drayton Road
Westbridge Partners, TMS Development, Belk Architecture and Gay Construction – have significant experience in the rehabilitation of historic sites, said Pacolet Milliken. “The Drayton property’s legacy in Spartanburg has been both long and momentous,” said Richard Webel, president of Pacolet Milliken, in the release. “We are proud to say that this site will no longer lie dormant and will once again act as an asset to Spartanburg.” Pacolet Milliken plans to remodel buildings on the 230-acre site for use
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January 3, 2014
as an event space, restaurant space, a community center and office space. Offices located there will be partially occupied by Pacolet Milliken, as well as by sustainably focused local nonprofits who will receive grants for the office space from Pacolet Milliken, said the company. As part of the Spartanburg Trails & Greenways Master Plan, the developers will construct a one-mile greenway that, once completed, will provide public access and connect the property to destinations including Mary Black Hospital, Spartanburg
Day School and Lawson’s Fork Creek, said the release. The original 1902 mill, the architectural plans for which are now housed in the Smithsonian in Washington, D.C., was designed by Lockwood, Greene & Co. The 1919 red brick Tudor Revival company store and office building were designed by Greenville, S.C. architect J. E. Sirrine. In 1929, a second mill was built in the Drayton Mills complex to house the weaving operations, while the 1902 mill housed the spinning operations. In 1934, the plant employed 900 people, manufactured fine cotton goods and was the only plant in Spartanburg producing combed goods. Financial problems following the Great Depression led to the sale of the mill complex to Deering Milliken Company in 1937. The cotton mill was recognized for excellence in production of war equipment during World War II, being presented with the Army-Navy “E” Award. Drayton Mill ran continuously for 92 years, from 1902 until 1994, and is one of the few remaining intact historic textile mills remaining in the area.
UBJ SQUARE FEET
Florida Company Buys Out Cliffs Communities By Sherry Jackson | staff | sjackson@communityjournals.com
Arendale Holdings, a real estate investment and development company based in Jacksonville, Fla., announced last week that it has closed the transaction to become the sole owner and manager of The Cliffs Communities. The transaction included acquiring the shareholder interests of SunTx Urbana and The Carlile Group led by Steve and Penny Carlile, a Marshall, Texas, couple who own a homesite in High Carolina. Carlile and his wife formed the Carlile Group in March 2012 after The Cliffs filed for bankruptcy to gain control of The Cliffs Club & Hospitality Group (Clubco), loaning Clubco $2 million to continue operations and formulate the plan for restructuring. The eight mountain and lakeside Cliff Communities in South and North Carolina emerged from bankruptcy in 2012. In 2013, the Cliffs at Mountain Park unveiled its new $7.5 million, 18-hole, Gary Player-designed golf course. With the acquisition, Arendale and its affiliates will control and manage all real estate development
Photo Provided
and sales functions, as well as club operations for The Cliffs Communities at Mountain Park, Valley,
Randall Bentley represented the landlord in a +/-8,861 SF expansion of SCI Electronics Inc.’s current space at 56 Pelham Davis Circle, Suite B, Greenville.
NAI Earle Furman’s Multifamily Division recently announced the sale of Timber Hollow, a 140-unit apartment complex, located at 3200 Trent St. in Greensboro, N.C. Tony Bonitati and Kay Hill represented the seller, Cadillac Capital LLC, in selling the
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DEALMAKERS LEE & ASSOCIATESGREENVILLE ANNOUNCED:
Glassy, Keowee Springs, Keowee
Falls, Keowee Vineyards, Walnut Cove and High Carolina. “Arendale Holdings continues to be excited about its investment in The Cliffs Communities and our increased financial commitment, we believe, demonstrates our confidence in the long-term strength of these fine communities throughout the Carolinas,” said Arendale Vice President Robert Wright. “With 70 new homes now under construction and the recent completion of the Gary Player Championship Golf Course at Mountain Park, we believe The Cliffs is poised for a vibrant future for its residents, club members and employees.”
Class C property for $2,500,000. John Gray represented the buyer, Carlyle Properties LLC. NAI Earle Furman’s Multifamily recorded its seventh major multifamily transaction of 2013, totaling just under 1,000 units sold in the Carolinas.
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UBJ ON THE MOVE ELECTED
HIRED
HIRED
HIRED
HIRED Nicky Jackson, joined
Samuel L. Erwin
James Jones
Jim “Doc” Martin
Tommie Reece
Elected as chairman of the board of Palmetto Bancshares Inc., effective Jan. 1. Erwin is CEO of the company. He succeeds Michael D. Glenn, who previously served as chairman of the board and will remain on the board.
Joined Wells Fargo Private Bank as a wealth advisor from U.S. Trust, where he was city executive and private client advisor. He received a master’s degree in business administration and a bachelor’s degree in finance from the University of South Carolina.
Joined Hot Springs Pools & Spas as director of spa sales. Martin comes to Hot Springs from California, where he was with Hot Spring Spas for the past 15 years. He has been a recipient of the prestigious Hot Spring Spas Century Club award every year since 1999.
Joined Roper Mountain Science Center Association as its first director of development. Reece has previously worked with Greenville Technical College and Furman University. She also spent time on the Greenville County School Board and several community boards and groups.
ARCHITECTURE:
REAL ESTATE:
DP3 Architects Ltd. recently announced the addition of D. Aaron Wells. Wells has a Bachelor of Architecture from North Carolina State University, and a Bachelor of Arts in architecture from Clemson University.
Coldwell Banker Caine recently welcomed Holly May as a residential sales agent in its Greenville office. May joins Coldwell Banker Caine with over 11 years of experience in the real estate industry. She previously worked for Dan Ryan Builders, Realty Professionals by Crown Communities and The Cliffs Communities.
COMMUNICATIONS/ MARKETING: ZWO (formerly Woodward & Zwolinski) has hired Rachel Spoon as a graphic designer. Spoon graduated from Anderson University with a B.A. in graphic design. Her work has earned an AAF District 3 Silver ADDY Award, two AAF Greenville Silver ADDY Awards and an AIGA National Flux Award.
SPORTS: The Boston Red Sox recently announced their minor league coaching staffs for the Greenville Drive. Darren Fenster, the Drive’s hitting coach in 2012, will return to Greenville as manager, while Paul Abbott is back for his second
consecutive season as pitching coach. In addition, Nelson Paulino joins the Drive as hitting coach and Satoshi Kajiyama will serve as head athletic trainer.
TECHNOLOGY: Tandem Innovative Payment Solutions, an electronic payment processing and merchant services provider, announced Evan Black has earned the Certified Payment Professional (CPP) designation from the Electronic Transactions Association (ETA). Black is one of only nine Certified Payment Professionals in South Carolina.
When you are finished reading this paper, please recycle it. Thank you, from the Upstate Business Journal! 14
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JHM Hotels as director of integrated marketing. Jackson is a graduate of Clemson University with a B.S. in graphic communications, and has an MBA in marketing and a Six Sigma yellow belt certification. She worked with Vertis Communications on the BI-LO LLC account as the creative services print production manager.
New hires, promotions & award winners can be featured in On The Move. Send information & high resolution photos to onthemove@ upstate business journal.com.
UBJ NEW TO THE STREET . Rd obs c a J
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1. Ever Green Recycling recently relocated to 1321 White Horse Road in Greenville. They specialize in commercial recycling for offices, restaurants, hotels and manufacturing facilities. For more information, visit ever-greenrecycling.com.
St ag eR d.
To Simpsonville
2. 9Round recently cut the ribbon for a new fitness center at 926 NE Main St., Suite A1, in Simpsonville. For more information, visit 9round.com or call 864-228-9191. Verdae Blvd. d. Laurens R E. Parkins Mill Rd.
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3. 2nd & Charles recently opened at 2465 Laurens Road in Greenville. The store buys and sells used books, movies, music, comics, video games and more. For more information, visit 2ndandcharles.com or call 864-281-1301.
Woodruff Rd.
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Gower Estates Park
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UBJ THE FINE PRINT
BNC Bancorp Buys 2 NC Banks BNC Bank’s parent company, BNC Bancorp, recently announced it will acquire North Carolina banks South Street Financial Corp. for $23.7 million and Community First Financial Corp. for $24.2 million in stock deals.
The move will allow BNC to take over Home Savings Bank, operated by South Street, and Harrington Bank, operated by Community First. According to BNC Bancorp, the two transactions provide approximately $275 million and $228
million in assets in the Charlotte and Raleigh-Durham-Chapel Hill markets. Once the acquisitions are closed, BNC will have approximately $3.7 billion in assets with 46 branches
in North and South Carolina. According to BNC Bancorp, the acquisitions are expected to close in the second quarter of 2014.
Photos Provided
Saffron’s Closes West End Café Saffron’s West End Café recently closed after 10 years in the West End to allow for an expansion in Saffron’s Catering LLC, said president Glenn P. Sawicki. “Between the growth of the catering division and continued success of our luncheon delivery, it is necessary to focus my attention on these two businesses,” said Sawicki in a release. “We look forward to expand-
ing our lunchtime catering offerings and additional special event services in 2014.” Saffron’s Catering offers corporate and private catering services, including event planning in conjunction with Midtown Artery in the Village of Greenville. The company also plans to continue daily lunch delivery along with expanded delivery areas.
Verizon Expands Wireless M2M Effort Verizon Wireless has increased its efforts in Machine-to-Machine (M2M) technology in the area. M2M solutions have a variety of applications, such as fleet management, cashless vending, inventory monitoring, remote thermal sensors and live video surveillance. A wireless connection can replace WAN or LAN wired Internet connections or fill in when those options are not available. The M2M market has been 16
growing exponentially over the past few years, according to a recent report from Visiongain, an independent business information provider for telecommunications and
UPSTATE BUSINESS JOURNAL
January 3, 2014
other industries. Visiongain predicted that global wireless M2M revenues would reach $50.1 billion in 2013, and that rates will increase as consumers’ use of connected devices is integrated into business. Verizon recently created a position filled by longtime Verizon executive Jeff Kissinger, who will now focus on finding companies whose technology solutions will benefit from cellular connectivity and increased automation.
“By 2020, there will be 50 billion M2M connections worldwide,” said Mike Parker, director of data sales for Verizon Wireless, in a realease. “Verizon has been actively working to expand the M2M marketplace for more than a decade, and Jeff’s new role will help Verizon remain at the forefront of this important technology.” Verizon serves 101.2 million retail customers, including 95.2 million retail postpaid customers.
3 WAYS TO CONNECT:
UBJ THE FINE PRINT
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1. PRINT
Zoës Kitchen to Open in Greenville Birmingham, Ala.-based Mediterranean restaurant chain Zoës Kitchen will open its 104th location Jan. 9 on Woodruff Road in Greenville. The fast-casual chain has expanded quickly, adding 52 locations in the past two years. Reuters recently reported that the company was in talks with banks about a potential initial public stock offering. “We are starting to establish a presence in South Carolina and
2. MOBILE
we’re thrilled to add another location to the Greenville community,” said Jason Simpson, regional operator of Zoës Kitchen in Greenville, in a release. “From the start, it’s been our mission to deliver fresh, authentic dishes and share our Southern hospitality with each guest every day.” Zoës’ Greenville location seats approximately 81 guests in the dining room, including an outdoor patio that seats 18. The restaurant is open from 11 a.m. to 9 p.m. daily. The new location also plans to offer beer and wine.
3. ONLINE www.UpstateBusinessJournal.com
For print subscription and email subscription to the “In Box.” Stay up to date with the business of the Upstate. January 3, 2014
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GOT A HOT DATE?
UBJ PLANNER
Contribute to our Planner by submitting event information for consideration to events@upstatebusinessjournal.com
FRIDAY JANUARY 3
TOPIC: The Collective Genius Theory
NORTH GREENVILLE ROTARY CLUB
CONTACT: Call Golden Career Strategies at 864-527-0425 to request an invitation
The Poinsett Club, 807 E. Washington St., Greenville; 12:30-1:30 p.m. CONTACT: Shannon Harvey at 864-228-2122 or shannonharvey@ allstate.com
MONDAY JANUARY 6 GCS ROUNDTABLE The Office Center at the Point, 33 Market Point Dr., Greenville; 8:30-9:30 a.m. SPEAKER: Myles Golden
GSHRM COMMITTEE PLANNING MEETING: HR MANAGEMENT CONFERENCE Greenville Technical College, Buck Mickel Center, 216 S. Pleasantburg Dr., Greenville; noon-1 p.m. FOR INFORMATION: greenvillehr.shrm.org
GREENVILLE WOODWORKERS GUILD
Education Center, 209 Hollyridge Drive, Greenville; 6:45-7:45 p.m. FOR INFORMATION: visit greenvillewoodworkers. com
TUESDAY JANUARY 7 TOASTMASTERS BILINGUE University Center, 225 S. Pleasantburg Dr., Auditorium Room 204, Greenville; noon-1 p.m. CONTACT: Jeff Alfonso at jeff@ alfonsointerpreting.com
NON-PROFIT ALLIANCE: BOARD DEVELOPMENT Greenville Chamber of Commerce, 24 Cleveland St., Greenville; noon-1:30 p.m. CONTACT: 864-242-1050
GSHRM MEMBERSHIP DINNER MEETING Thornblade Country Club, 1275 Thornblade Blvd., Greer; 5:30-8 p.m. TOPIC: HR Awards of Excellence and Committee Member Recognition Dinner COST: $25 for members and guests REGISTER AT: greenvillehr.shrm.org
WEDNESDAY JANUARY 8 PELHAM POWER Greenville Office Supply, 310 East Frontage Rd., Greer; 8-9 a.m. COST: Free for Greer Chamber members
January 3, 2014
FOR INFORMATION: gsatc.org
BNI CHAPTER, GREATER GREENVILLE
members, $15 for guests. Must be a manufacturer to attend and includes lunch. CONTACT: Darlene Parker at 864-239-3706 REGISTER AT: greenvillechamber.org
City Range, 615 Haywood Road, Greenville; noon-1:30 p.m. COST: $15 for lunch CONTACT: Hardy Auston at 864-313-9942 or hdaustonmoving@aol.com
DIVERSITY CONNECTIONS LUNCHEON CityRange Steakhouse Grill, 774 Spartan Blvd., Spartanburg; noon-1:30p.m. SPEAKER: Dana McKnight, SC Works Upstate CONTACT: 864-594-5000
2014 MANUFACTURERS ROUNDTABLE
GSATC LEARNING LUNCH
Greenville Chamber of Commerce, 24 Cleveland St., Greenville; 12:30-1:30 p.m.
SPEAKER: Edna Johnson, VP of communication and brands of Michelin NA
UPSTATE BUSINESS JOURNAL
COST: $25 per person
REGISTER AT: greerchamber.com
Embassy Suites, 670 Verdae Blvd., Greenville; 11:30 a.m.-1 p.m.
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TOPIC: Make the Most of Social Media
TOPIC: Talent Recruitment, Retention, and Development COST: Free for Greenville Chamber
YOUNG PROFESSIONAL TOASTMASTERS Commerce Club, 55 Beattie Place, Greenville; 6 p.m. COST TO VISIT: $5 to cover meeting space and one drink at the bar FOR INFORMATION: visit yptm. toastmastersclubs.org
FRIDAY JANUARY 10 FIRST FRIDAY LUNCHEON Greer City Hall, 301 E. Poinsett St., Greer; 11:30 a.m.-1 p.m. COST: $10 for Greer Chamber members; $15 for non-members CONTACT: Katie Witherspoon at katie@greerchamber.com REGISTER AT: greerchamber.com
UBJ SNAPSHOT
From “Remembering Greenville: Photographs from the Coxe Collection,” by Jeffrey R. Willis Historic photo available from the Greenville Historical Society. Not long after Furman College moved to Greenville, the Baptist Convention voted to establish a female college under the same board of trustees. Classes began at Greenville Female College on a limited scale in 1855. The first full session was in 1856. The construction of the college’s main building was begun in 1858, with the additional wings added later. In 1914, the name of the institution was altered to Greenville Woman’s College. It was supposedly Eudora Ramsay, the feminist daughter of the college president, who convinced her father to drop the offensive word “female.”
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The Ramsay Fine Arts Building was completed in 1922 and named in honor of David M. Ramsay who served as president of GWC from 1911 to 1933. The architects were the local firm of Beacham and LeGrand. The building, with its 1200-seat auditorium, served both campuses and was located where the Greenville Little Theatre was later built. During the Great Depression, matters of finance dictated that GWC become the Woman’s College of Furman University. The process of union began in 1933.
In 1926 the Little Theatre came to Greenville in the form of the Greenville Artists’ Guild. Seventy-five devoted men and women worked together in an effort to “develop the art, culture and drama which for so long has lain dormant among Greenville folks.” Two years later, the group had grown to over 100 and was renamed the Community Little Theatre, and later the Greenville Little Theatre. It presented one- to four-act plays in any available auditorium boasting a stage. After World War II the Air Force Glider Base movie theatre on Lowndes Hill Road was purchased and served the group for the next two decades. With insufficient storage space, more artistic productions featuring larger casts and steady increases in memberships, the need for expansion of facilities became imperative. The current Greenville Little Theatre was built on the site of the Ramsay Fine Arts building and held its first production in the new building on April 11, 1967.
SENIOR BUSINESS WRITER Jennifer Oladipo STAFF WRITERS Sherry Jackson, Cindy Landrum, April A. Morris PRESIDENT/PUBLISHER Mark B. Johnston mjohnston@communityjournals.com
CONTRIBUTING WRITERS Jenny Munro, Jeanne Putnam, Leigh Savage
UBJ ASSOCIATE PUBLISHER Ryan L. Johnston rjohnston@communityjournals.com
PHOTOGRAPHER Greg Beckner
EXECUTIVE EDITOR Susan Clary Simmons ssimmons@communityjournals.com MANAGING EDITOR Jerry Salley jsalley@communityjournals.com
ART & PRODUCTION ART DIRECTOR Kristy M. Adair PRODUCTION MANAGER Holly Hardin ADVERTISING DESIGN Michael Allen, Whitney Fincannon
CURRENT PHOTOS BY GREG BECKNER / STAFF
HOW TO CONTRIBUTE
MARKETING & ADVERTISING SALES REPRESENTATIVES Lori Burney, Kristin Hill, Kristi Jennings, Donna Johnston, Annie Langston, Pam Putman MARKETING & EVENTS Kate Banner
ideas@ upstatebusinessjournal.com
DIGITAL STRATEGIST Emily Price
Copyright @2013 BY COMMUNITY JOURNALS LLC. All rights reserved. Upstate Business Journal is published weekly by Community Journals LLC. P.O. Box 2266, Greenville, South Carolina, 29602. Upstate Business Journal is a free publication. Annual subscriptions (52 issues) can be purchased for $65. Postmaster: Send address changes to Upstate Business, P.O. Box 2266, Greenville, SC 29602. Printed in the USA.
January 3, 2014
STORY IDEAS:
EVENTS: events@ upstatebusinessjournal.com
NEW HIRES, PROMOTIONS, AWARDS: onthemove@ upstatebusinessjournal.com
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ABOVE & BEYOND
At Clemson MBA, experiences and opportunities abound. Network with entrepreneurs, business leaders, professionals and fellow students at events designed to take your degree above and beyond classroom knowledge. And with all of Clemson’s MBA courses located at our beautiful downtown Greenville campus, you can take classes full time, attend classes in the evening after work or even explore turning your entrepreneurial spirit into reality in our new, convenient, online/weekend program, beginning Summer 2014. Clearly, whatever MBA is right for you, there’s one best place to earn an MBA your way. Clemson.
Full Time ∙ Part Time ∙ Traditional MBA ∙ MBA in Entrepreneurship & Innovation clemson.edu/mba ∙ 864-656-8173