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New and expectant parents deliver a newborn market to Upstate entrepreneurs
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UBJ UP FRONT
What (We Think) Readers Want JENNIFER OLADIPO SENIOR BUSINESS WRITER
joladipo@communityjournals.com The discussion around this week’s story on baby-related business was an interesting one. It started months ago, shortly after I’d announced to my colleagues that I was expecting my first child. Just a few weeks later our publisher, Ryan Johnston, told the staff he had twins on the way, due about a month before me. So, babies came up in the staff meetings with some regularity. A consensus developed that I should write about the sometimes-absurd amounts of money people spend on babies. Some found the idea amusing, but it turns out I am just not one of those pregnant women interested in the special little products and services one can buy for babies’ special little parts (I mean ALL their parts) and perceived needs. Nor was I that kind of journalist. Fast-forward to earlier this month when I have to start working on the story, and find a news hook I think might save me. Two national medical organizations issued guidelines saying, “Hey, hospitals, quit pushing C-sections,” which have an effect on hospital bottom lines and physician incomes. Add the noteworthy cultural implications, and statistics showing that C-section rates vary so much that some suspect a profit motive, and it sounds like I’ve found a good business story. But my colleagues said it was a snoozer. Their suggestions veered back toward spending.
Now, I wasn’t exactly salivating to write about cesareans, but I was bothered. Maybe I didn’t want to feel that “serious” business stories were off the table if babies were the main subjects. I hate when topics get stuck in a sort of novelty ghetto where their pervasive impact is never thoroughly examined. Maybe I favored a topic that touched more people than a niche group of high spenders. Maybe I was sick of researching baby stuff. But hey, I’m a realist. It’s like that question about the tree falling in a deserted forest. If a good story gets published but nobody wants to read it, is it really a good story? Nope. In the end I’d say I got to split the difference, focusing on entrepreneurs who are serious about the business opportunities they’ve found as a result of what people are willing to spend on niche services. Problem neatly solved. Just in time, too. If this issue proceeded as planned, I’ve been on maternity leave for a week and am consumed with my own baby business. This is the last you’ll hear from me for a spell, but I’m looking forward to an inbox full of your feedback when I return in August.
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If a good story gets published but nobody wants to read it, is it really a good story? Nope.
EDITOR’S NOTE: Although it was a close call as to which one would arrive first, we are happy to report that Jennifer managed to deliver both her feature story and her firstborn without complications last weekend. Congratulations to her and to all new parents in the Community Journals family.
June 20, 2014
UPSTATE BUSINESS JOURNAL
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Volume 3, Issue 25
June 20, 2014
MONEY SHOT: River’s Edge, a new 140-apartment community being built by developer Phil Hughes at the corner of River and Broad streets in downtown Greenville, held a “topping-out” ceremony earlier this week. Attendees signed a beam that was hoisted and will be added to the top floor of the eight-story building. The development will also feature a new restaurant along with a courtyard area with outdoor seating and retail space. Hughes is still working on securing a hotel for the property.
GREG BECKNER / STAFF
TBA
WORTH REPEATING “It’s a long-term relationship that I have with my clients. I am holding their hand through a very intimate part of their life, and I treat that with respect.” Katie Dill, founder of Poppy Consultants, providing baby planning services.
“A lot of women have a hard time accepting the new image that they’re seeing in the mirror. So it’s been rewarding to have people leave with something that makes them feel good.” Sarah Riddle, owner of Haute Mama, a maternity and baby retail shop in Spartanburg.
“When you’re having a baby, everything is for the baby. This is something for the mom.” Beth Sturm, president of Momma’s Jewels, makers of teething jewelry.
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UPSTATE BUSINESS JOURNAL
Word is High Street Hospitality Group, which owns Ford’s Oyster House, SIP and the Green Room, will have a new restaurant called The Playwright at the new River’s Edge development… Talk of a new large-event venue for downtown Spartanburg similar to Greenville’s Bon Secours Wellness Arena is gaining
June 20, 2014
VERBATIM
traction in Sparkle City. Word is political and business leaders have begun exploring what it would take to bring a multipurpose complex downtown…
On Being No. 1 in Tires…
Look for Conn’s, a Texas electronics and appliance chain, to open its first Upstate store in August in the former Babies-R-Us space on Haywood Road…
Dave Zielasko, publisher and editor-in-chief of Tire Business magazine, which has reported that the state is now the nation’s leading tire producer.
“South Carolina is No. 1. And it’s not surprising. South Carolina has really been aggressive in attracting these factories.”
UBJ TRANSPORTATION
Getting There Is 66.7% of the Fun Clemson study asks what form of transportation makes people happiest JOE TOPPE | STAFF
jtoppe@communityjournals.com
WHAT MODE OF TRANSPORTATION MAKES YOU HAPPIEST?
There are many ways to move from one destination to the next, but have you ever wondered which mode of transportation would make you the happiest? Researchers at Clemson University are investigating how emotions such as happiness, pain, stress, sadness and fatigue may vary during travel and mode of transportation. With data collected by a U.S. Bureau of Labor Statistics survey, researchers have pinpointed the average mood felt by people during different types of travel. When compared to other means of transportation such as driving or taking a train or bus, bicyclists and walkers are the happiest travelers, said Eric Morris, lead author on the study and assistant professor in Clemson’s planning, development and preservation department.
“Our study concluded that travel is not necessarily a bad thing.” Eric Morris
WALKING & CYCLING LIKES – 66.7% DISLIKES – 8.9% NEUTRAL – 24.4%
TRAIN, SUBWAY, & LIGHT RAIL
AUTO
LIKES – 31.4% DISLIKES – 28.9% NEUTRAL – 39.7%
LIKES – 58.1% DISLIKES – 11.7% NEUTRAL – 30.2%
The Clemson study excluded all cases of people who were cycling or walking for fun, he said. “In general, they are very popular modes of transportation.” Morris said changes in traditional public policy and the provision of additional bike lanes could persuade commuters to bike more often. Cities such as Boulder, Colo., have great bike setups, he said. “Americans will ride bikes if the infrastructure is put in place.” Morris said the Clemson study could have implications on how transportation resources are furnished. The study’s purpose was to determine if people who are travelling are happier than those who are not, he said. Using 13,000 people who
ranked how they felt while doing a variety of activities, the study focused on 70 different categories associated with transportation ranging from purpose of travel, duration and mode. Research models suggested travel is associated with a more positive effect than the average of all other activities and highlighted that people tend to be in a better mood when traveling than when working or attending school, according to the study. Morris said most transportation scholars feel travel is an activity done out of necessity and is something that people do not usually enjoy. Generally, travel is considered unpleasant, he said, although “our study concluded that travel is not
BUS LIKES – 8.3% DISLIKES – 63.4% NEUTRAL – 28.3%
“Americans will ride bikes if the infrastructure is put in place.” Eric Morris
necessarily a bad thing.” Although study participants viewed travel as more pleasant than work or school, the activity was perceived as less positive than socializing, eating and drinking, volunteering or attending religious services. Currently, Clemson researchers are working on a follow-up study pertaining to travel duration and whether or not people are happier on longer or shorter trips.
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UPSTATE BUSINESS JOURNAL
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UBJ ECONOMY
SC GDP Shows Slight Increase JOE TOPPE | STAFF
jtoppe@communityjournals.com The 2013 growth rate of the gross domestic product shows only small increases for most states east of the Mississippi, including South Carolina’s slight 1.2 percent rise throughout the year. Clemson economist Bruce Yandle attributes the regional imbalance highlighted in the U.S. Department of Commerce’s report to the recession’s negative impact on Eastern states with economies that rely heavily on manufacturing. The state GDP growth is decidedly stronger in the West, Yandle said. Western
states have oil, coal, gas, hard grain and, on average, higher educational attainment than the East, he said. In addition, America’s manufacturing muscle is located in the eastern states, and “the Great Recession was hard on manufacturing.” Although recent unemployment reports show statewide improvement, dropping 1 percent below the national average in April to 5.3 percent, Yandle said South Carolina’s 2013 growth in real GDP could be partially explained by weaker growth in the number of people employed in the state. “Growth in real GDP is
PERCENT CHANGE IN REAL GDP BY STATE, 2013
Souce: U.S. Bureau of Economic Analysis
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June 20, 2014
driven mainly by employment growth,” he said. Employment improved less than 1 percent in 2013 after growing 1.7 percent in both 2011 and 2012. The state unemployment rate is determined by the number of people seeking work as a share of the labor force, Yandle said. In 2013, the state labor force – defined as those working or looking for work – was smaller than in 2012 or 2011, he said. As a result, the unemployment rate fell, but the real GDP growth fell as well. The state’s labor force participation rate stood firmly at just 57.9 percent in both March and April, nearly a full percentage point lower than the same time last year, according to the South Carolina Department of Employment and Workforce.
“There’s a reason why they’re naming us the beast of the Southeast.” Gov. Nikki Haley
The GDP report placed the Palmetto State behind neighboring states Georgia and North Carolina and 0.6 percent behind the national rate. Yandle said South Carolina’s economy recovered earlier than its neighbors after the recession, with 3.1 percent growth in 2011 and 1.5 percent in 2012. “Our neighboring states were just getting started in 2011 and are now catching up,” he said. “We must remember that this is for newly produced goods and services, and a large part of South Carolina’s population is retired and receiving transfer income, not income based on newly produced goods and services.” In a press conference held last week at the Governor’s Mansion, Gov. Nikki Haley said the goal is to keep the economy moving. “There’s a reason why they’re naming us the beast of the Southeast,” she said. “The economy is turning, and it’s a lot different than it was in 2011, and my hope is that 2017-2018 is a lot different than it is in 2014.”
UBJ GROUNDBREAKING Construction is underway for a new United Community Bank retail location at 1400 Augusta St., at the corner of Grove Road. The facility will include a pocket park with seating areas and a water feature. United Community Bank partnered with local consultants, including Design Strategies LLC and Creative Architect Ben Rook talks about the design of the new bank during the ceremony. Builders Inc., to design and construct the facility. Construction is expected to be completed in December.
Lynn Harton (above), president and chief operating officer of United Community Bank and Michelle Seaver (right), president of United Community Bank – Greenville County.
From left, Will McCauley, president of Creative Builders Inc.; Benjamin T. Rook, chairman and CEO of Design Strategies LLC; Greenville Mayor Knox White; Lynn Harton; Michelle Seaver; Matt Williams, branch manager; Bryant Puntch, commercial relationship manager; Richard Bradshaw, president of specialized lending; Charles Chamberlain, SVP/head of corporate banking.
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The Buckley School of Public Speaking was founded in 1988 for the express purpose of helping businesspeople become more effective communicators. Along with its ongoing Executive Seminar, open to all, the school provides customized on-site programs for companies and speechwriting and coaching for individual speakers.
UPSTATE BUSINESS JOURNAL
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UBJ RECREATION & BANKING
Hincapie Named Director of Cycling for Cliffs SHERRY JACKSON | STAFF
sjackson@communityjournals.com Champion cyclist. Hotel owner. Custom cycling apparel. These are just a few of George Hincapie’s accomplishments and business ventures. Now he’s adding one more to the roster: director of cycling for The Cliffs communities. Hincapie has partnered with The Cliffs – a collection of seven high-end residential communities across North and South Carolina – to expand its health and fitness programming. As director of cycling, Hincapie will lead Cliffs members on private rides throughout the year and participate in Cliffs special events. “As one of the most celebrated names in the sport, we could not ask for a more qualified partner” than Hincapie, said David Sawyer, executive vice president of The Cliffs Clubs. Through the partnership, Cliffs members will be able to rent bicycles and participate in special programs at Hotel Domestique, Hincapie’s
Photo Provided
George Hincapie leading a group of riders.
newly opened boutique hotel 20 minutes north of Greenville and just five minutes from The Cliffs at Mountain Park and Cliffs Valley commu-
“Our members are eager to ride the scenic roads of our southern Blue Ridge Mountains with a World Champion, and we look forward to growing Hincapie’s role with The Cliffs in the years to come.” Dr. Matt Ort, Cliffs director of health, performance and recreation
nities. The luxury 13-room property is surrounded by trails for mountain biking and bicycling suitable for the novice to the expert rider, and also offers an on-staff mechanic to adjust bikes to the proper fit and assist riders with all their cycling needs. “The Cliffs is a natural partner for us,” said Hincapie. “Greenville and Asheville are becoming increasingly known as destinations for health-conscious, athletic people, and this is reflected in The Cliffs’ membership,
as well as its programming. We hope to be an extension of the wellness experience, while introducing members to the incredible cycling right in their backyard.” “Our members are eager to ride the scenic roads of our southern Blue Ridge Mountains with a World Champion, and we look forward to growing Hincapie’s role with The Cliffs in the years to come,” said Dr. Matt Ort, Cliffs director of health, performance and recreation.
Ex-CertusBank Execs Resign From Board SHERRY JACKSON | STAFF
sjackson@communityjournals.com Two founders and former executives of CertusBank, Walter Davis and Milton Jones Jr., have resigned their positions from the company’s board of directors. “Clearly, our presence on the board puts us in a position to be liable for actions in which we do not have a
8
voice,” the two wrote in a letter dated June 9 addressed to Dr. Robert Wright, chairman of the board for CertusBank, and filed with court documents. Davis and Jones said they “started this journey and invited you and others along to build a great company of historic magnitude. In April, we were fired without cause. “Therefore, we resign from the CertusHoldings, Inc. Board of Direc-
UPSTATE BUSINESS JOURNAL
June 20, 2014
tors and the CertusBank Board of Directors effective immediately,” the letter states. Emily Ledbetter, assistant vice president and corporate communications manager, was able to confirm that Davis and Jones have resigned but said she cannot comment on matters of the board. This is just the latest development in an ongoing saga that began this
spring. Jones and Davis, along with another CertusBank executive, Angela Webb, were terminated on April 9. Davis and Jones had remained on the board. The three subsequently filed suit in federal court in April implicating the board and a shareholder in a civil conspiracy to smear them. To read the full letter and previous coverage, visit upstatebusinessjournal.com.
WHAT’S YOUR INNOVATIVE IDEA?
CLEMSON.EDU/MBA
UBJ MANUFACTURING
With 7,100 New Jobs Announced, It’s a Great Monday in SC JOE TOPPE | STAFF
jtoppe@communityjournals.com Through a combined 7,100 new jobs and $800 million in capital investment, Monday marked the largest employment announcement for a single day in South Carolina’s history. Gov. Nikki Haley joined elected officials, economic development professionals and company representatives to announce plans for three businesses to establish facilities in the Palmetto State. Giti Tire announced plans to build a new manufacturing plant in Chester County, creating 1,700 new jobs. The Lash Group Inc. plans to bring 2,400
jobs to South Carolina by establishing tion rate remains at 57.9 percent, the their national headquarters in York lowest of any state except MississipCounty, and LPL Finanpi, West Virginia, Arcial LLC will also estab- DETAILS: kansas or Alabama, lish a headquarters in South Carolina’s number GITI TIRE York County, resulting of employed persons • 1,700 jobs in an additional 3,000 continues to increase • $560 million new jobs. The 3,000 under Haley. • Richburg, S.C. jobs announced by LPL Including Monday’s Financial will represent THE LASH GROUP announcements, a total • 2,400 jobs the single biggest anof 56,239 jobs and • $90 million nouncement in the $13.6 billion in capital • Fort Mill, S.C. county’s history. investment have been “It doesn’t get any announced since Haley LPL FINANCIAL bigger or better,” Gov. took office in January • 3,000 jobs Nikki Haley said. 2011, the governor’s • $150 million Although the Palmetoffice said in a state• Fort Mill, S.C. to State’s job participament.
m a d e
i n
TOP PRODUCERS Tires manufactured per day 1. South Carolina: 89,000 2. Oklahoma: 88,000 3. North Carolina: 76,000 4. Illinois: 51,500 5. Alabama: 47,800
TOP EXPORTERS Dollar amounts from Jan.-Aug. 2013 1. South Carolina: $1.176 billion 2. Ohio: $322 million 3. Texas: $314 million 4. Illinois: $237 million 5. California: $216 million SOURCES: Tire Business magazine, USA Trade Online, U.S. Census Bureau
s p a r t a n b u r g
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Under the Hood of the 2015 BMW X6 JOE TOPPE | STAFF
jtoppe@communityjournals.com Manufactured exclusively in Spartanburg County, the introduction of the 2015 BMW X6 marks the second-generation of the carmaker’s Sports Activity Coupe. Since 2008, the BMW X6 has enjoyed a special status amongst the X models produced in Spartanburg, said Sky Foster, Depart-
KEEPING IT BETWEEN THE LINES
The new BMW X6 is available with a camera-based Active Driving Assistant. When the vehicle is traveling faster than 44 mph, Lane Departure Warning alerts drivers with a visible signal in the instrument cluster and a vibration of the steering wheel if they have inadvertently drifted out of their lane.
EASY PARKING IN CITY SPACES
Additional convenience when driving in town is provided by the X6’s optional Parking Assistant. The system helps the driver identify and drive into parallel parking spaces. When the parking button is pressed, the X6 parks itself automatically in the selected parking space. The system provides the necessary steering input, while the driver operates the accelerator and brake pedal, and selects the correct gear.
HELP’S ON THE WAY
The BMW Assist eCall system relays important information to the BMW Call Center after a crash, such as vehicle position (accurate to within feet), chassis number, vehicle model and color, and data from the onboard sensors. The system also detects how many people are in the vehicle, which airbags were activated and the intensity of the impact. The system also uses data from the vehicle’s crash sensors to assess and transmit the likelihood of severe injury. This makes it easier to supply first responders with critical information quickly.
ment Manager, Corporate Communications, BMW Manufacturing. “With sales of almost 250,000 units around the world, we welcome the next generation X6 and believe it
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June 20, 2014
be well-received by our customers.” The 2015 BMW X6 will arrive in US showrooms by late 2014, although pricing will not be announced until closer to launch.
UBJ RETAIL
ONE Development Reels In Orvis SHERRY JACKSON | STAFF
sjackson@communityjournals.com Orvis is coming to the ONE development. The family-owned retail and mail order business that specializes in high-end fly-fishing, hunting and sporting goods will occupy 5,000 square feet at the corner of Laurens and Washington streets, across the street from Barley’s Taproom, in downtown Greenville. “Orvis fits perfectly with our strategy of leasing to high-quality national, regional and local tenants. We are very excited to welcome them to Greenville and think they will be a huge success,” said Robert Hughes,
project manager at Hughes Development. This will be the first Orvis store in the Upstate and the second in South Carolina for the Vermont-based retailer. Founded in 1865, Orvis pioneered the mail-order industry in the United States, and operates more than 80 retail stores in the U.S. and the U.K. The company also contributes 5 percent of pre-tax profits every year to protect nature, support communities and advance canine health and well being. The store is expected to open in the fall. Hughes Development Corporation also announced that the
ONE building has been certified as a LEED Gold building by the United States Green Building Council (USGBC). According to the USGCB website, “LEED, or Leadership in Energy & Environmental Design, is a green building certification program that recognizes best-in-class building strategies and practices.” This certification makes Project ONE the largest LEED Gold building in the state. One City Plaza has a new sign facing Main Street in Greenville. Piazza Bergamo, named for one of Greenville’s sister cities, was renamed One City Plaza after completion of the ONE project and remodeling of the former Piazza de Bergamo.
GREG BECKNER / STAFF
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UBJ INNOVATE
By MARTHA WINEBARGER
Get the Recognition You Deserve for Innovation You have what it takes to innovate – time to let the business community know
Creating an organizational culture that embraces new ideas and nurtures innovation, which ultimately delivers a commercialized product or service that serves a need indisputably, adds value to your firm. If your company happens to innovate in South Carolina, you could also earn a 2014 InnoVision Award for your efforts. Since 1999, the InnoVision Awards Program has recognized businesses, educators and individuals who set new standards for innovation in finding, developing and retaining profitable business because of employing technological excellence and innovation within their organizations. Past winners have described the impact of receiving an InnoVision Award as “significant, especially in our early days as a startup company” and “extremely valuable; we knew we were headed in the right direction, and felt rewarded and renewed in our premise when we received an InnoVision Award.”
2014 INNOVISION AWARDS CATEGORIES INCLUDE: TECHNOLOGY DEVELOPMENT – sponsored by SiMT TECHNOLOGY APPLICATION – sponsored by Immedion LLC SUSTAINABILITY – sponsored by Sealed Air Corporation EDUCATION – sponsored by Techtronic SMALL ENTERPRISE – sponsored by SCLaunch COMMUNITY SERVICE – sponsored by McNair Law Firm P.A. InnoVision also celebrates talented youth with The Ibrahim Janajreh Young Innovator Award (sponsored by Michelin North America) and seeks to recognize the most dedicated leaders in the state, one deserving of the Charles Townes Individual Lifetime Achievement Award (sponsored by A.T. Locke & Company). ONLINE APPLICATION: http://bit.ly/innovision2014app
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A Look Back A quick glance at the archives reveals 15 years of award-winning applicants. Here is an update on just a few:
The Reef Ball Group – Jerry Barber, a serial innovator, holds more than 50 patents for processes, discoveries and technological breakthroughs in arenas ranging from amusement rides to wind turbine designs. Today, Reef Ball, co-invented by Jerry and his son, Todd, is the most popular designer coral reef in the world. The low-cost, environmentally safe Reef Ball is restoring artificial reefs and attracting marine life in over 65 countries worldwide, from locations as diverse as the Caribbean to British Columbia. Since receiving the InnoVision Award for Technology Development in 1999, The Reef Ball Group has expanded into other erosion control and rebuilding solutions (such as reef beaches). The Reef Ball Foundation was selected as a laureate for The Tech Awards, sponsored by the World Bank, the United Nations, Microsoft and Intel. Jerry Barber was the 2010 recipient of the coveted Charles Townes Individual Achievement Award for his commitment to the advancement of technology in South Carolina. KIYATEC – Recognized for the product development and commer-
DATES
2014 TIMELINE
JULY 11: Applications Close JULY 14-AUG. 22: Judging Period SEPT. 2: Finalists Announced SEPT. 23: Finalists Reception NOV. 11: 16th Annual InnoVision Awards Celebration (with Keynote Speaker Thom Shea, former Navy SEAL, author and Greenville resident)
UPSTATE BUSINESS JOURNAL
June 20, 2014
cialization efforts for the company’s innovative 3DKUBE 3D Cell Culture Plasticware, KIYATEC received InnoVision’s 2010 Technology Development Award. The technology platform provided a universal and cost-effective method that enabled scientists and clinicians to perform advanced 3-D cell cultures. In 2011, KIYATEC was the first on-site partner at Greenville Health System’s ITOR campus, and the firm is continuing to make significant strides in breakthrough cancer research; in October 2013, KIYATEC was awarded a National Cancer Institute contract to establish predictive 3-D breast cancer models. Milliken & Company – Concrete Cloth is just one example of a unique idea that Milliken’s associates have created to fill a crucial need in the most possible sustainable way. Concrete Cloth, a cement-impregnated cloth, is available in packages small enough for two men to carry and enables installations in remote locations. The cloth uses up to 95 percent less concrete than traditional applications, reducing transportation loads for installations, and reducing carbon dioxide emissions and waste. Milliken & Company received the 2012 InnoVision Award for Technology Application, and Concrete Cloth was also recognized by R & D Magazine as a Top 100 Technologically Significant Product the same year.
Apply The InnoVision Advisory Board looks forward to receiving an entry application for the 2014 InnoVision Awards from all entities within South Carolina that are creating and nurturing a culture that embraces innovation to enhance, promote and fill a unique need for customers. Applications can be completed and submitted online or via traditional U.S.
TIPS FOR WRITING AN AWARD-WINNING APPLICATION Our independent judging panel has offered their suggestions and guidance to help you write an award-winning application: 1. DESCRIPTION: Describe the application, product or service. Define the objectives of this application, product, process or service. Clarity of the description is key. 2. INNOVATION: Explain how the product, process, or service is new, unique or original. Explain how the application applies existing technology in a different and innovative way. 3. COMPLEXITY/DIFFICULTY: The complexity or difficulty of the nominee’s use and advance of technology is important. Be sure to include: • The type of technology used. • Uniqueness of the technical application. • Complexity or difficulty achieving objectives, and any extraordinary circumstances encountered or overcome in reaching the solution. 4. RESULT/IMPACT: The result or impact of the project is very important. Please describe in detail the tangible and measurable benefits attained from the application, product or service developed. Describe the breadth and significance of benefits. When possible, include information on the community or consumer impact (local, regional, national and worldwide), expected economic impact, and the longevity of the impact (short-term; long-term). Note: The judges are not from South Carolina. Details considered to be public knowledge in your local community should be included for perspective.
Mail. Visit innovisionawards.org/innovision-2014-awards-application for more information. Martha Winebarger, principal with [en-gage] solutions, is an advisory board member of InnoVision.
UBJ YOUR MONEY
By EMMET MARTIN
Target Date Funds Are Not the Only Solution Diversify the portfolio, and give participants the information they need to keep out of trouble The use and prevalence of target date mutual funds has skyrocketed since their designation as a qualified default investment alternative (QDIA) under the Pension Protection Act of 2006. After all, the concept makes sense: Choose a date (presumably the year that you will retire) and the mutual fund company will manage your assets so as to get more and more conservative as that date approaches. The concept is that while you have more time to retirement, you have more time for recovery (i.e., more volatility). As much sense as this may seem to make, one doesn’t need to peel the onion far to expose a few flaws that can negatively affect the participants as well as the fiduciaries of qualified retirement plans. Target date funds generally include a year in their names. The year indicates something, but the Department of Labor and the Securities and Exchange Commission have yet to dictate a standard as to what the year actually means. While some asset managers will set their glide path to plan for retirement at the target date, others will
A plan fiduciary should never assume justification based upon common sense – especially when dealing with governmental regulators. manage the assets for retirement through the target date. Neither is necessarily right or wrong; however, when planning your retirement future, it’s a pretty important distinction. As a fiduciary (i.e. plan sponsor), this could become problematic as the litigious nature of our society seemingly grows ever more intense. Target date funds are not tactical in nature. In general, they’re strategically created based upon modern portfolio theory – a concept that each type of security has a specific level of risk and that an efficient portfolio can be built utilizing over 100 years of market data
combined with an optimizer (computer simulation). As time passes, more assets are taken from equities (stocks) and placed into fixed income (bonds). The speed and frequency by which this transformation takes place depends upon the glide path as dictated by the mutual fund company. Rising interest rates are generally considered the largest risk to the value of bonds. It’s generally understood that when interest rates go up, the values of bonds go down. As time moves forward there is no doubt that the glide path movements of target date funds (all of them) will continue to purchase more and more bonds into the portfolios of their participants. This should lead participants to ask these questions: 1. Is the next big move in interest rates going to be up or down? (Hint: interest rates are currently at all-time lows.)
DEFINED Target date mutual fund: A mutual fund that automatically resets the asset mix of stocks, bonds and cash equivalents in its portfolio according to a selected time frame that is appropriate for a particular investor. Glide path: A formula that defines the asset allocation mix of a target date fund, based on the number of years to the target date. The glide path creates an asset allocation that becomes more conservative (i.e., includes more fixed-income assets and fewer equities) the closer a fund gets to the target date. REIT: Real estate investment trust, a security that sells like a stock on the major exchanges and invests in real estate directly, either through properties or mortgages. Source: investopedia.com
2. Why would I want my portfolio to become more heavily laden with bonds regardless of the current interest rate environment? Plan sponsors should also consider their potential fiduciary status as they ultimately have responsibility and liability as to the construction of their qualified plan platform. The Department of Labor’s Employee Benefits Security Administration (EBSA) and the Securities and Exchange Commission (SEC) have released some guidance as to how plan sponsors and fiduciaries should consider target date funds. This guidance has been very general in nature; the consensus is that the industry is a work in progress that will continue to evolve and that communication between sponsors and participants should be improved. Although the vague nature of this guidance indicates some leeway, a plan fiduciary should never assume justification based upon common sense –
June 20, 2014
especially when dealing with governmental regulators. The best solution for all parties seems to be to diversify the portfolio options: Add some non-correlated assets (not affected by the stock or bond market) such as natural resources, precious metals or REITs. Add some tactical investment funds – risk-based models with the freedom to actually go to cash in a bad market instead of systematically plodding along a glide path. Finally, make sure that your participants are getting the information that they need to be successful and to keep you (the plan sponsor) out of trouble. Emmet Martin of Novus Advisors is in his 24th year in the financial services industry and has vast experience in many different facets of asset management. Martin attained his designation as a Certified Financial Planner (CFP) in 2005 and advises clients on technical issues pertaining to investments, employee benefits, estate planning, taxes and insurance.
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LAUNCH THE COMPANY: Asterisk Development LLC, a real estate development company founded in 2009 by Bobby Barreto out of his Clemson University dorm room. THE PROJECT: A live/work building concept for entrepreneurs located in downtown Greenville, the West End or Village of West Greenville. The building will have 30 apartments on the top two floors and a retail space, 36 offices and collaboration and conference room spaces on the bottom two floors.
The New Home Office With WestLINK, Clemson grad launches live/work building concept in Greenville
By Sherry Jackson | staff | sjackson@communityjournals.com WHO THEY ARE: Barreto has a bachelor’s degree and an MBA from Clemson. To date, his company has completed an apartment complex project in Clemson and 60,000 square feet of single and multifamily development projects. Barreto also has a silent partner assisting with the WestLINK project. WHAT THEY WANT: Private investors for first round of funding to acquire 0.5 to 2 acres of land needed for the building. Land cost is estimated at $500,000 to $1 million. Total project cost is estimated at $5 million to $10 million. CONTACT: Bobby Barreto at 864-561-4031 or bbarreto@ asteriskdevelopmentllc.com 14
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While a freshman at Clemson studying management, entrepreneurship and economics, Bobby Barreto decided he wanted to try something different from the typical part-time college job of waiting tables or working fast food. After watching an HGTV show that featured people flipping houses, he decided to start his own real estate development company. That was in 2009. Today, Barreto is a young, enthusiastic go-getter armed with a B.A. from Clemson and a newly minted MBA in Entrepreneurship & Innovation from Clemson as well. His company, Asterisk Development, has completed an apartment complex project in Clemson along with several other projects. His latest venture is called WestLINK, a live/ work building concept for entrepreneurs. Barreto said he got the idea a few years ago and “finetuned the details” while he was in Clemson’s MBA entrepreneurial program. While he envisions a collaborative space similar to the Iron Yard or OpenWorks concept for entrepreneurs and startup businesses, he says the live/work combination is completely unique. Roughly 30 studio to two-bedroom apartments will occupy the top two floors, while private offices, lounge and reception areas, >>
June 20, 2014
“This is something that no one else has – not Charlotte, not Atlanta, not New York, not Silicon Valley.” Bobby Barreto
“It’s really to replace entrepreneurs working out of a spare bedroom.” >> conference rooms, and possibly a coffee shop or cafe will dominate the bottom two floors. Barreto hopes to attract a mixture of businesses and entrepreneurs, but sees the concept appealing to small businesses with four or fewer employees. “It’s really to replace entrepreneurs working out of a spare bedroom,” he says. Apartments and offices will be leased together to “encourage a community of people who live and work in the same building.” Barreto says many entrepreneurs choose to run their businesses out of their homes because it is convenient and cost-effective, but soon learn they are constantly fighting off distractions and unable to easily collaborate with other creative thinkers. Other entrepreneurs may opt to rent a desk or office space in a co-work building, but then have to commute as well as pay for that space. WestLINK will provide a cost-effective solution while allowing entrepreneurs to not sacrifice convenience or cost savings, he said. Barreto said he anticipates rents to be “less than others” in the downtown area and already has interest from “about 15 entrepreneurs” who would want to move into the space. The risk to potential investors is fairly low, he says, because should the project fail, (which he isn’t anticipating), owning land in downtown Greenville is a pretty good investment in itself. He hopes to break ground on WestLINK in the next three to six months with a mid2016 completion date for the entire project. “This is something that no one else has – not Charlotte, not Atlanta, not New York, not Silicon Valley,” Barreto said. “It’s edgy and is a place worth living at for young entrepreneurs. This will put Greenville at the forefront of mixed-use urban development.”
Renderings Provided
“It’s edgy and is a place worth living at for young entrepreneurs. This will put Greenville at the forefront of mixed-use urban development.” June 20, 2014
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J U M P S TA R T
BABY BLING
Momma’s Jewels creates trinkets that infants – and moms – drool over By Casey Lovegrove | contributor
For Stacy Rosenthal, navigating the challenges of motherhood inspired the idea of chic, quality jewelry that can stand up to the handling of a teething baby or toddler. In 2007, Rosenthal launched Momma’s Jewels in Connecticut, and the company quickly expanded. Beth Sturm bought the company in July 2013, and when Sturm moved to Greenville she brought the company headquarters with her, attracted by the Upstate’s favorable economic climate for small businesses. Momma’s Jewels pieces are sold in six Upstate locations in Greenville, Spartanburg and Greenwood, and continue to appear in stores nationwide. Sturm shared with UBJ her enthusiasm for the product and the possibilities of plugging Momma’s Jewels into the Greenville business community.
How did the idea for Momma’s Jewels originate? The idea came to Stacy [Rosenthal] in 2006 when she was pregnant with her second child, and just had the same struggles that every mom has, where she couldn’t wear jewelry and she always felt that she was a mess. She had picked up her toddler’s teething ring off the floor so many times; she thought ‘there has to be a better way.’ So she came up with the idea of doing a teething ring on a necklace.
What was the thought process behind the product design? After a few designs of doing the silicone and the rubber route, which
Stacy felt weren’t that glamorous, she had the realization that sterling silver is antibacterial, has been used for generations in cups, rattles and spoons, and is also a perfect metal for jewelry. Sterling silver is naturally antibacterial and antimicrobial. It’s also cool to the touch and hard, almost like a teething ring you’d put in the freezer. It’s very functional, so a lot of thought went into the length of the chain, and the fact that the chain loops around the ring allows more mobility. There’s a rattle in the pieces, and we found babies gravitate more towards those with the rattle than without. We also learned that we can engrave the top of the ring, and we do that here in Greenville.
What safety testing does the product undergo? The product is completely ASTM-regulated and has passed all safety testing required by them and the Consumer Product Safety Commission. Safety is our No. 1 priority. It’s a very long process for us to develop new styles and make sure it is functional and beautiful at the same time. We’re very proud of the fact that we have a product that not only makes the mom feel beautiful, but also feel at ease knowing that it is a safe product for her child. >>
>> Do you market the product only to mothers of
young children?
You would never know what it is; that’s the beauty of it. Moms can continue to wear it after the children are grown, and especially if it’s engraved, it can be a keepsake. When you’re having a baby, everything is for the baby. Very few things are given to the mother specifically, and this is something for the mom that can make her feel special and beautiful that also strengthens the bond with the baby. What we’ve found is the majority of our actual purchasers are not expectant mothers but the husband, grandmother, sister or best friend buying it as a gift. Very rarely are we finding that it’s something a mom has bought for herself. It’s usually a shower or holiday gift.
How is the company structured? The products are actually made in Massachusetts – there’s still an old silver industry and jewelry craftsmanship world up there. We have them shipped down here, and we ship everything from Greenville. Stacy is still involved part-time in Connecticut and still does product development and works very closely with me as we’re designing new pieces. Here in Greenville, it’s myself and one employee. Her main focus is our e-commerce website and the press and marketing, while I work on the day-to-day stuff.
Since moving to Greenville, how are you growing the company?
possibilities to get into more retailers. The West Coast is our next big push. We have in development right now three other necklaces, and we just launched the triangle design in early May. It’s been five pieces for seven years, so the fact that we’re now hopefully going to double our line is very exciting. In addition to the teething necklaces, we are looking to get into silver giftables as well. We’re hoping to produce some of those here, and we’ve talked to some people in the Upstate we might be able to work with. The jewelry itself will never be a huge product line because of the safety factor.
Looking forward, what are you most excited about?
WHERE TO FIND IT Find Momma’s Jewels at these Upstate retailers: DIANA CLASSIC CHILDREN 21 Augusta St., Greenville HALE’S JEWELERS 532 Haywood Rd., Greenville JULIE’S JEWELS & GIFTS 301 Haywood Rd., Greenville THE FRILLY FROG 225 Main St., Greenwood
I’m most excited about the growth, honestly. This is such a wonderful product, but very few people know about it. We are still very small and have a very limited marketing budget as most young companies do, so we’re trying to be creative and do it grass roots. We want to become more of a household name and the go-to baby shower gift. My dream would be for someone to see someone wearing it and recognize it immediately as a Momma’s Jewels piece.
HAUTE MAMA 154 E. Main St., Spartanburg RUFUS D. LEWIS 139 Fernwood Dr., Spartanburg Or online at MOMMASJEWELS.COM
When Stacy started the company, it was by word of mouth and walking into stores in her neighborhood, and it started to grow organically, mostly in Connecticut. We’re now growing within the Southeast and all along the Eastern Seaboard. We’re doing a little bit more of a push to get into stores. We are in a showroom in Atlanta, and we have two independent sales reps. We’re traveling to different cities every week to get in the door and doing trade shows. We’re only in 115 stores, so there are endless
“When you’re having a baby, everything is for the baby. This is something for the mom that can make her feel special and beautiful that also strengthens the bond with the baby.” Beth Sturm, president of Momma’s Jewels.
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UBJ COVER GREENVILLE ENTREPRENEURS
CATCH BABY FEVER From consulting to retail, a newborn industry is taking its first steps in the Upstate
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By Jennifer Oladipo | senior business writer | joladipo@communityjournals.com
While popular in many parts of
person among friends and family for advice on baby products and services. She finally decided the time had arrived to become a professional baby planner. She sought help from a company called Baby Planner Inc., a young Colorado firm that specializes in business consulting for the baby planner industry. She wanted to align her business to the standards of the International Baby Planner Association, founded in 2007. Dill said South Carolina women are becoming more knowledgeable about alternatives for pregnancy-related services and want help navigating their options. She provides planning and consulting services herself, and also >>
the country, baby-centered businesses have remained rare here – a trend that could quickly change as a new crop of Upstate entrepreneurs takes to the forefront to push the business of babies past healthcare and retail. The maternity concierge industry encompasses a wide range of products and services that include everything from labor support to nursery planning to merchandise. For example, a popular cable television show called “Pregnant in Heels” follows a real-life “maternity concierge, fashion designer and pregnancy guru” as she deals with clients. Now in its second season, the show features the super-high-end version maternity concierge. Locally, the scene is dominated by women – some spurred by their own experiences, others who simply saw a good business opportunity based on their own expertise. As more people step into concierge-type roles, support groups, healthcare providers and businesses have formed a tighter local network to serve new and expecting parents.
VARIED BUSINESSES
Katie Dill with Poppy Consultants, left, watches 15-month-old Jane Ryan Lewis as Jane’s mother, Natalie Lewis, talks to Jane. Natalie Lewis is one of Dill’s clients.
Katie Dill started Poppy Consultants last November after spending years as the go-to
Photo by Greg Beckner
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“It’s a long-term relationship that I have with my clients. I am holding their hand through a very intimate part of their life, and I treat that with respect.” Katie Dill, founder of Poppy Consultants
UBJ COVER >> connects clients with other service providers. Dill said the newness of the business to this area has presented some challenges. Getting her business up and running has meant having to explain to every service provider – from her lawyers to her business insurance agency – what exactly she’s doing. She said it took months to secure an appropriate insurance policy. Dill refers clients to companies such as Greenville Nannies, launched earlier this year by Riley Haskell. Haskell herself had been a nanny on the side for several years and found she could not fill all her clients’ requests. The business has far exceeded her expectations, she said. Connecting families with experienced nannies is a fast-growing trend, and she’s busy trying to fill several requests per day. She said about half her business comes from people who want night nurses to help with newborns throughout the night. Retail is still a strong part of the industry. Haute Mama of Spartanburg joined a handful of maternity and baby retail shops seven months ago. Owner Sara Riddle said while she’s unsure how many maternity wear businesses the local market can support, she knows from personal experience how few options exist for finding stylish mater-
“A lot of women have a hard time accepting the new image that they’re seeing in the mirror. So it’s been rewarding to help with all those things and have people leave with something that makes them feel good.” Sarah Riddle, owner of Haute Mama Photo Provided
nity clothes. With a 4-month-old in her arms, she decided to do something about it.
LEAN ON ME A recurring theme among these businesses is the notion that customers often need a bit of relief as part of the service provision. Stresses associated with pregnancy and new parenthood can be unrelenting, and even physiological, they say. Owners try to address those less tangible issues, recognizing that there can be a lot more to every decision or service than meets the eye. For example, notoriously sleep-deprived new parents might have trouble just thinking about simple solutions for frustrating baby issues, Haskell
CHALLENGES AND OPPORTUNITIES IN THE BABY BIZ
SARAH RIDDLE, HAUTE MAMA
KATIE DILL, POPPY CONSULTANTS
RILEY HASKELL, GREENVILLE NANNIES
BIGGEST CHALLENGE
Doing it with my own toddler in tow, so I feel like I’m really in it with all the other moms who are trying to do it all.
Right now in SC people just don’t really understand what a baby planner is. I have to explain it every single time.
Every family has really specific and different needs to consider.
BIGGEST OPPORTUNITY
It seems like people really want smocked clothes. They look for that kind of stuff and christening gowns.
There’s a movement gaining in this area. Mothers are choosing to be more involved and hands-on through pregnancy, pushing for different procedures and services.
A lot of parents are both going back to work, and even those who don’t work outside the home want adult help. Night nannies are a big trend.
CONTACTS: Riley Haskell, Greenville Nannies, 864-270-0195, greenvillenannies@gmail.com; Katie Dill, Poppy Consultants, 864-884-5398, katie@poppyconsultants.com, poppyconsultants.com; Sara Riddle, Haute Mama, 864-585-7003
said. So in addition to being available to perform child-care duties, a night nurse might also act as an advisor to parents. Counseling is a major part of what she does, Dill said. “It’s a long-term relationship that I have with my clients. I am holding their hand through a very intimate part of their life, and I treat that with respect.” Even a simple tee shirt and pants bring up difficult issues related to the physical changes pregnancy brings to moms. “A lot of women have a hard time accepting the new image that they’re seeing in the mirror,” said Haute Mama owner Riddle. “So it’s been rewarding to help with all those things and have people leave with something that makes them feel good.” Riddle’s store also keeps a calendar of events such as classes and film screenings meant to foster a sense of community for new and expecting parents. She said such support was necessary for her business. “A lot of people don’t want to go back to the hospital after they’ve had their baby, so I wanted to do something different in a comfortable environment where they might be shopping anyway,” she said. On the other hand, both Haskell and Dill said sometimes their job is to take the emotion out of the equation. It’s easier to tell Haskell that one of her nannies isn’t a good fit than to say the same about a friend’s daughter, for example. And Dill said she is often favored over friends and family for objective advice. Regardless of their roles, they can all rest assured that, having focused on babies, the market is unlikely to dry up any time soon.
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UBJ THE FINE PRINT KIYATEC Lands in Innovation Zone
AAF Greenville Honored at National Conference The American Advertising Federation of Greenville (AAF Greenville) was recently honored at the AAF National Conference as the 2014 National Club of the Year for Division IV. Outgoing president Whitney Hanna was named 2014 President of the Year for Division IV. The AAF annually honors top clubs in eight categories: advertising education, communications, diversity,
government relations, club operations, membership, programs and public service. Additionally, the AAF names a Club of the Year and President of the Year for each division. AAF Greenville placed in five categories. The club ranked first in club operations and government relations; second in diversity and advertising education; and third in membership.
KIYATEC, a Greenville-based biotech company, is one of 17 companies that have been selected to participate in the 2014 BIO International Convention’s newly created Innovation Zone in San Diego, California from June 23-26. The Innovation Zone will feature Small Business Innovation Research (SBIR)-funded, early-stage biotech companies that are ready for partnerships and investor opportunities. KIYATEC will be in the Innovation Zone along with companies such as StemSynergy Therapeutics, Inc., Humanetics Corporation and Syntrix Biosystems. The SBIR program provides federal funding to small Research/R&D businesses that have a potential for commercialization. In September 2013 KIYATEC was awarded an approximately $295,000 Phase I SBIR contract to establish 3-D breast cancer models using
living cells obtained directly from breast cancer patients. “This is an opportunity to show the world what we’ve been working on, and to extend our industry and collaborative relationships around the results,” said Dr. Matthew R. Gevaert, CEO and cofounder of KIYATEC. “We went through a rigorous review process for SBIR with the NIH and NSF before receiving our funding, and now we’re looking forward to being able to share how it’s going to make a difference in cancer drug selection.”
Pet-Friendly Hyatt Named as Fido’s Favorite Hyatt Regency Greenville has been honored as a 2014 Fido’s Favorite Award winner by the pet-friendly travel website BringFido.com. This annual award recognizes
hotels, inns and bed and breakfasts that attain superior pet-friendliness ratings from BringFido. com customers. Fewer than 5 percent of all pet-friendly accommoda-
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tions receive this distinction, said the Hyatt in a statement. BringFido.com visitors review and rate properties on a one to five “dog bone” scale. Only four-bone or higher rated properties are eligible for a Fido’s Favorite Award. The Hyatt received five bones.
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In addition to welcoming dogs into the hotel, the Hyatt hosts a monthly “Yappy Hour” at NOMA Square downtown, where dogs are served “pup-tinis” and owners can enjoy “Yappetizers,” live music and specialty drinks from Roost restaurant.
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UBJ THE FINE PRINT First Citizens Announces Merger Agreement First Citizens BancShares and First Citizens Bancorporation recently announced the signing of a merger agreement, which creates the largest family-controlled bank in the U.S. and the sixth-largest bank headquartered in the Southeast by asset size. The combined company would have total assets of $30.7 billion, deposits of $26.1 billion, loans of $18 billion and more than 575 branches in 18 states and the District of Columbia. The agreement provides for First
Citizens Bancorporation and its banking subsidiary, First Citizens Bank and Trust, to merge into First Citizens BancShares Inc. and its subsidiary, First Citizens Bank. The merger is expected to close in the fourth quarter of 2014, after receiving regulatory approvals and the approval of both companies’ shareholders. Once the approvals occur, Frank B. Holding Jr., chairman and CEO of First Citizens Banchshares and First Citizens Bank, is expected to lead the
combined company. Additionally, Jim Apple, chairman and CEO of First Citizens Bancorporation and First Citizens Bank and Trust Company Inc., plans to retire once the transaction is completed. “We see so many positives to joining with a bank that has a similar culture and brings 116 years of experience in
financial services,” said Apple in a news release. “This agreement makes compelling strategic sense. The combined First Citizens Bank, with its robust product and service offerings and customer focus, will carry on a tradition of financial strength and growth.” The combined company’s leadership team and board of directors will be comprised of members from both organizations. They will be announced later, the company said.
Kelley, Naselli, Nelson Tapped for GADC Board The Greenville Area Development Corporation has announced that business leaders David Kelley and Debbie Nelson have been appointed by Greenville County Council to inaugural three-year terms on the GADC board. Concurrently, Charles Naselli has been appointed by Council Chairman Dr. Bob Taylor to serve a three-year term. All terms began June 1, 2014. “Each of these individuals brings tremendous experience, insight and achievement in business and community activities to this board,” said Taylor. “It is our good fortune to have their leadership and experience focused on the economic
KELLEY
NASELLI
development activities and policies that will add good-paying jobs and increase per capita income and capital investment in Greenville County.” Kelley is president of Kelley Wealth
NELSON
and Retirement Solutions, an investment advisor representative with ING Financial Partners, a chartered retirement planning counselor and a licensed life insurance agent.
Nelson is president and founder of DNA Creative Communications, a public relations and inspirational marketing firm serving nonprofit and governmental organizations primarily in the education, human services and environmental sectors. Naselli is president and founder of Global Recruiters of Greenville, after holding manufacturing leadership and general management positions with Kohler Plumbing and Guardian Building Products. The new directors succeed outgoing directors Scott Case, Jo Watson Hackl, Bob Howard and Ray Lattimore, who combined for more than 20 years of service on the board.
Greg McKinney 4-7 P Sturg 7-10 P June 20, 2014
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By Randy Looper, principal, Carolina Media Group
UBJ THE TAKEAWAY
Keeping Innovation in SC Greenville Tech’s Keith Miller explains why the Upstate needs the Center for Manufacturing Innovation EVENT: The Marchant Company Quarterly Breakfast WHO WAS THERE: Greater Greenville community leaders SPEAKER: Dr. Keith Miller, president of Greenville Technical College PRESENTING: The Center for Manufacturing Innovation & Workforce Development Bob Howard, president of the Greenville Technical College Foundation, welcomed Dr. Keith Miller, president of Greenville Technical College, as the keynote speaker at The Marchant Company Quarterly Breakfast. Miller’s presentation focused on The Center for Manufacturing Innovation (CMI) to be located at the Millennium Campus adjacent to the Clemson University International Center for Automotive Research (CUICAR) Technology Neighborhood Number One. CMI will offer education designed to
meet industry needs, including dual-credit programs in partnership with Greenville County Schools, bridge programs that allow a student to move from associate degree to bachelor’s degree, and workforce training certificate programs that increase the qualifications of manufacturing employees. Miller noted that CMI will be the fifth Greenville Technical College campus in the Upstate.
WHY DO WE NEED A CMI? Miller related that the manufacturing sector is first in gross regional product (GRP), first in total earnings and third in number employed, responsible for nearly all annual capital investment, and is the driving sector with the highest multiplier effect in the Upstate. Another significant factor is that the manufacturing workforce is aging, as 54 percent of existing skilled manufacturing workers are approaching retirement age, and the education/training pipeline doesn’t include enough young workers. Miller related that these high-paying skilled manufacturing jobs are now being recruited from out of state and CMI will be focused on deterring that trend. CMI will educate and provide highly skilled training for the advanced manufacturing workforce to serve not only automotive but also transportation and other high-tech sectors.
COLLABORATION IS KEY Reaching down to the ninth- and tenth-grade high schools, Miller explained that exposing our students to this innovative technical college and leading research university with advanced manufacturing training and curriculum is vital. Inviting Upstate high school counselors to tour local manufacturing facilities where they can be made aware of these exciting new opportunities for their students is currently and will be in the future a
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springboard for generating enthusiasm toward a career in manufacturing. Continued involvement of the area manufacturers in early recruitment will increase their competitive edge and foster the growth of new manufacturing opportunities in the Upstate.
CMI OFFERINGS Dual-credit programs in partnership with Greenville County Schools are key, noted Miller, along with bridge programs that will allow a student to move from an associate degree to a
bachelor’s degree even after many years between education stints. There will also be workforce training and certificate programs that will increase the skills of the local manufacturing workforce. CMI will also offer landing space for companies that are startups relocating to the Upstate and flexible space where manufacturers can create prototypes and teach current employees more advanced cutting-edge skills. CMI will open in spring of 2016, Miller projected.
UBJ SQUARE FEET Former Service Station May Fuel Simpsonville Revitalization Station. Jennings’ Service Station was opened in 1967 by brothers Waymond and Wade Jennings “during a time when Simpsonville was just a little mill town full of saltof-the-earth people working towards the American Dream,” said Clifford Jennings, Waymond’s son and operator of the store from 1987 until it closed in 2007. The Jennings’ store was one of a handful of filling stations in the area and offered a little bit of everything, from supplying fuel and automotive supplies and service to helping out residents with community credit and check cashing.
SHERRY JACKSON | STAFF
sjackson@communityjournals.com Hoping to create a new destination in downtown Simpsonville, investor and developer John Dickens, along with Spectrum Commercial Properties, is shopping around ideas for a new $6 million proposed mixed-use project called The Village at Jennings’ Station. Dickens seeks to create a development on the 2.6-acre parcel that can serve as “a catalyst to the revitalization of downtown Simpsonville.” “There has been a lot of interest and we’ve been courting a few local restaurant chains,” said Richard Cox, associate broker with Spectrum Commercial Properties. “The renderings are just conceptual at this point and will be finalized depending on need.” The property is located at 211 NE Main St., near Curtis Street, and was once the home to Jennings’ Service
“You always knew when it was noon around the store,” Clifford Jennings
said. “There wasn’t much constant action in town, so you knew how to tell time by when people would start showing up at the station. From the manager of the Feed N’Seed to the Cryovac or the mill [employees], you knew when people were heading to work.” After assuming management from his father and uncle in the 1980s, Jennings began offering more repair services to keep up with the growing local economy. The store remained a popular location in Simpsonville until health reasons led Jennings to close the store in 2007. Cox said the developers hope to start construction on the project later this year.
My Space at Mauldin Seeks to Fill Strategic Need SHERRY JACKSON | STAFF
sjackson@communityjournals.com My Space at Mauldin, a 21,000-square-foot building along the Laurens Road corridor, has nothing to do with the once popular online music social media site, but rather will serve as commercial spaces
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for small businesses, giving an abandoned building a makeover with new purpose. Hunter Howard, along with business partner Ward Kellett, saw a “lot of vacant buildings in strategic locations and a growing need in the small business sector for S. reasonably priced space MA IN ST. with good visibility,” said Howard. They purchased the property in March and are working on renovations. The 1.3-acre property is located alongside Laurens Road at 325 New Neely Ferry Road, between Butler Road and I-185. The property has sat vacant for several
years but was once home to the Greenville Awning Company. The former owner installed a replica of a space shuttle that Howard hopes to keep as a landmark. The entrance to the property will remain on New Neely Ferry Road. The partners plan to sell the six to eight individual spaces within the building, which range from 1,800 square feet to 5,000 square feet, as a shell with utilities that the new owner can then build out anyway he needs. “It’s like a commercial condo project,” said Howard. “We think that’s a business gap that needs to be filled.” Plans call for a modern façade that will wrap the building, and businesses are expected to be professional office to service-type businesses. “We have a huge prospect list
June 20, 2014
PROJECT PARTNERS DEVELOPERS: S. Hunter Howard Jr. and Ward Kellett GENERAL CONTRACTOR: Smith Kellett Contracting ARCHITECT: James E. Phillips Architecture BROKERAGE & MARKETING: Hunter Garrett, NAI Earle Furman
already,” said Hunter Garrett, broker at NAI Earle Furman, which will be marketing the property. Howard said My Space has filed a rezoning application with the city of Mauldin from commercial to service so the company can address parking needs. The partners have met with nearby neighborhoods and the planning commission and received favorable input, he said.
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New hires, promotions & award winners can be featured in On The Move. Send information & photos to onthemove@upstatebusinessjournal.com.
UBJ ON THE MOVE HIRED
HIRED
HIRED
HIRED
ELECTED Alexander Stubb,
Bruce Coombs
Dana Spadafora
Victoria Kirby
Joined ADEX as director of value stream programs management. Coombs brings over 20 years of aerospace experience with him. He was previously with Curtiss-Wright Controls, where he was most recently director of programs for Saab/Boeing. He was also director of quality and export compliance for Curtiss-Wright.
Hired as GreenWood Inc.’s director of human resources. Spadafora brings 20 years of human resources experience gained from the industrial, manufacturing and service industries. She is a member of the Society for Human Resource Management (SHRM) and the Greenville Society for Human Resource Management (GSRHM).
Named director of the Center for Corporate and Professional Development at Furman University. Kirby has worked with top leaders from companies such as General Electric Global, ScanSource Global, Lockheed Martin, Bausch & Lomb, Velux USA, Bon Secours St. Francis Health System, Greenville Health System, TD Bank, Kohler, Michelin USA and American Airlines.
CONSTRUCTION/ ENGINEERING: O’Neal Inc. has hired Troy Callahan as project manager. Callahan has more than 20 years of engineering project management experience, working with companies such as Chicago Bridge and Iron, Fluor and Fuji. He earned his Bachelor of Science in mechanical engineering from Clemson University.
BANKING: Jason Starnes has been promoted to executive vice president at Southern First Bank. Starnes joined Southern First Bank
in May 2013 as senior vice president and chief information officer with 14 years of banking experience. He was previously the director of technology and operations at First Citizens Bank.
EDUCATION: Clemson University announced that Dr. Jean-Marc Delhaye won the Byars Prize for Excellence in Teaching Engineering Fundamentals almost exactly a year after a professional society recognized his pioneering research with nuclear reactors. Delhaye is a former director of research and scientific
James Rush “Jay” Wilson IV Joined Rush Wilson Limited as an executive clothier. Wilson is a 2007 graduate of Presbyterian College and has worked with TD Bank for the past seven years. He is the grandson of founder Rush Wilson Jr. and the son of owner Rush Wilson III.
advisor to the French Atomic Energy Commission and has been at Clemson since 2006. Clemson University also announced that Ellison Smyth McKissick III and Jerome V. Reel Jr. are new recipients of the Clemson Medallion. The Clemson Medallion recognizes individuals who have given commitment and service to Clemson University.
NONPROFIT: The Children’s Museum of the Upstate recently announced Chase Eldridge, Jacquelyn Austin, Richard O. Barrett, Peter Barth, Adele Seymore and Gaye G. Sprague have joined its board.
STAFFING:
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June 20, 2014
a 1993 Furman University graduate, is set to become the next Prime Minister of Finland. Currently, Stubb serves as Finland’s Minister for European Affairs and Foreign Trade, and his new cabinet is expected to be formed by the end of June. Born in Helsinki, Stubb attended Furman on a golf scholarship, and later earned a Ph.D. at the London School of Economics.
Godshall Professional Recruiting and Staffing recently welcomed Douglas Fowler as a member of the executive recruiting team. Fowler has over 20 years recruitment experience gained in the U.S. and European markets.
TECHNOLOGY: ScanSource Inc. recently announced that Christy Thompson, worldwide vice president of marketing for ScanSource Inc., and Ansley Hoke, vice president of merchan-
dising for ScanSource Catalyst, have been named to the CRN 2014 Women of the Channel list. The annual Women of the Channel list highlights the accomplishments of female executives within vendor, distribution and solution provider organizations and the impact they are having on the advancement of the IT reseller industry. Thompson has also been recognized as one of this year’s Power 100. The Power 100 spotlights those female executives at vendor and distributor organizations whose insight and influence in their respective companies help drive channel success.
UBJ NEW TO THE STREET
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THE INBOX Stay in the know with UBJ’s free weekly email. 2
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4 1. Haviland Tennis Academy recently opened at 1955 Ridge Road in Greenville. For information, visit Haviland Tennis Academy on Facebook, call 864-415-7561 or email haviland@stanfordalumni.org. 2. The Swamp Rabbit Inn recently opened at 1 Logan St. in Greenville. The inn has six rooms. For information, call 888-291-3025, email swamprabbitinn@gmail.com or visit swamprabbitinn.com. 3. Mac Arnold’s Blues Restaurant held a ribbon-cutting at 1237 Pendleton St. in Greenville. For more information visit Mac Arnold’s Blues Restaurant’s Facebook page or call 864-558-0747. 4. Attorney Venus Poe P.A. recently held a ribbon-cutting at 218 S. Main St. in Fountain Inn. For information, call 864-963-0310 or visit venuspoe.com.
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GOT A HOT DATE?
UBJ PLANNER FRIDAY JUNE 20
Contribute to our Planner by submitting event information for consideration to events@upstatebusinessjournal.com
Look For Call Golden Career Strategies at 864-527-0425 to request an invitation
MAULDIN CHAMBER B2B NETWORKING Friar’s Tavern, 1178 Woodruff Road, Greenville; noon
TUESDAY JUNE 24
Lunch is dutch treat
GREENVILLE ROTARY CLUB NORTH GREENVILLE ROTARY CLUB The Poinsett Club, 807 E. Washington St., Greenville; 12:30-1:30 p.m.
REGISTER AT: info2@ mauldinchamber.org or 864-297-1323
Poinsett Hotel, 120 S. Main St., Greenville; noon REGISTER AT: greenvillerotary.org
MONDAY JUNE 23 GCS ROUNDTABLE The Office Center at the Point, 33 Market Point Drive, Greenville; 8:30-9:30 a.m. SPEAKER: Richard Heard, Godshall Staffing and Recruiting TOPIC: What Recruiters
CONTACT: 864-239-3743 REGISTER AT: greenvillechamber.org YOUNG PROFESSIONAL TOASTMASTERS
BNI – GREATER GREENVILLE City Range, 615 Haywood Road, Greenville; noon-1:30 p.m.
PIEDMONT EXECUTIVE CLUB (TOASTMASTERS)
COST: $15 for lunch
City Range, 615 Haywood Road, Greenville; noon-1 p.m. Open to all and guests eat free. INFORMATION: petm. toastmastersclubs.org CONTACT: 864-458-8277 or brianwoolf@gmail.com
INFORMATION: bniamerica.com CONTACT: Hardy Auston at 864-313-9942 or hdaustonmoving@aol.com PULSE SOCIAL Twigs Inc., 1100 Woods Crossing Rd., Greenville; 5:30-8 p.m.
DUAL-CHAMBER BUSINESS SPOTLIGHT Smitty’s Country Cooking & Catering, 214 E. Butler Road, Mauldin; 11:30-1 p.m. SPEAKER: Sande Ullmann, master tax advisor, H&R Block
CONTACT: Kirbie Crowe at kcrowe@tenatthetop. org or 864-283-2313 SMALL BUSINESS OF THE YEAR CELEBRATION
TOPIC: H&R Block Talks 2014 Benefits and Enrollment
Greer City Hall, 301 E. Poinsett St., Greer; 6-8 p.m.
COST: Free to any Golden Strip chamber members, $10 for nonmembers
COST: $50 per ticket. Includes dinner, drinks, entertainment and automatic raffle entry.
CONTACT: Amy Roe at 864-420-2305 or aroe@ fountaininnchamber.org
CONTACT: Mark Owens at 864-877-3131 ext. 102
BNI – MONEY MAKERS
HUMAN POTENTIAL TASK FORCE MEETING
Southern Fried Green Tomatoes, 1175 Woods Crossing Rd., Greenville; 8:15-9:45 a.m.
REGISTER AT: spartanburgchamber. com
Ten at the Top Office, 124 Verdae Blvd., Greenville; 1-3 p.m.
Commerce Club, 55 Beattie Place, Greenville; 6 p.m.
COST: Free to attend but invitation required, lunch $16 CONTACT: Shanda Jeffries at 864-228-2122 or sjeffries1@allstate.com
864-228-2122 or sjeffries1@ allstate.com for invitation
WEDNESDAY JUNE 25
COST TO VISIT: $5 to cover meeting space and one drink at the bar FOR MORE INFORMATION: visit yptm. toastmastersclubs.org
THURSDAY JUNE 26
INFORMATION: bniamerica.com CONTACT: Shanda Jeffries at
REGISTER AT: bit.ly/ TATTtaskforce
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UBJ SNAPSHOT
Historic photograph available from the Greenville Historical Society. From “Remembering Greenville: Photographs from the Coxe Collection,” by Jeffrey R. Willis
This stately home was built in 1834 by Fountain Fox Beattie for his bride, Emily Hamlin. It originally stood on East North Street (this photograph) at the corner of Church Street. Subsequent generations of the family added two wings, Italianate decorative features and extensive landscaping. In 1948 the home became the home of the Greenville Woman’s Club after leasing the historic home from the City of Greenville for a dollar per year. The house was relocated to Beattie Place near the City Curb Market. During the redevelopment of Beattie Place, the house was moved again in 1983 to 8 Bennett St. where it can be found today. The Beattie House is on the National Register of Historic Places.
Photo Provided
Today the Greenville County Courthouse stands where the Beattie House was originally constructed. East North Street is now a multi-lane one-way road leading to I-385. Citing declining membership, the Greenville Woman’s Club has announced it will disband on June 30. Control of the home will fall to the City of Greenville’s Parks and Recreation Department.
MARKETING & EVENTS Kate Banner
DIGITAL STRATEGIST PRESIDENT/CEO Mark B. Johnston mjohnston@communityjournals.com
UBJ PUBLISHER
Emily Price
ART & PRODUCTION ART DIRECTOR Kristy M. Adair
Ryan L. Johnston rjohnston@communityjournals.com
OPERATIONS Holly Hardin
EXECUTIVE EDITOR
Michael Allen, Whitney Fincannon
Susan Clary Simmons ssimmons@communityjournals.com
MANAGING EDITOR Jerry Salley jsalley@communityjournals.com
SENIOR BUSINESS WRITER Jennifer Oladipo
STAFF WRITERS
Sherry Jackson, Cindy Landrum, April A. Morris, Joe Toppe
CONTRIBUTING WRITER Jeanne Putnam
PHOTOGRAPHER Greg Beckner MARKETING & ADVERTISING SALES REPRESENTATIVES Kristi Jennings, Donna Johnston, Annie Langston, Lindsay Oehman, Pam Putman
ADVERTISING DESIGN CLIENT SERVICES Anita Harley, Jane Rogers
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LINKEDIN: Upstate Business Journal Copyright @2014 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 $50. Postmaster: Send address changes to Upstate Business, P.O. Box 2266, Greenville, SC 29602. Printed in the USA
IN THIS WEEK’S ISSUE OF UBJ? WANT A COPY FOR YOUR LOBBY? 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
UBJ milestone
UBJ milestone jackson Marketing Group’s 25 Years 1988 Jackson Dawson opens in Greenville at Downtown Airport
1988
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Chairman larry Jackson, Jackson marketing Group. Photos by Greg Beckner / Staff
NEW HIRES, PROMOTIONS, AWARDS:
Jackson Marketing Group celebrates 25 years
onthemove@ upstatebusinessjournal.com
20 Upstate bUsiness joUrnal November 1, 2013
UBJ welcomes expert commentary from business leaders on timely news topics related to their specialties. Guest columns run 700-800 words. Contact Executive Editor Susan Clary Simmons at ssimmons@communityjournals.com to submit an article for consideration.
1997 Jackson Dawson launches motorsports Division 1993
1990 Jackson Dawson acquires therapon marketing Group and moves to Piedmont office Center on Villa.
By sherry Jackson | staff | sjackson@communityjournals.com
Solve. Serve. Grow. Those three words summarize Jackson Marketing Group’s guiding principles, and according to owner Larry Jackson, form the motivation that has kept the firm thriving for the past 25 years.
Jackson graduated from Bob Jones University with a degree in video and film production and started his 41-year career in the communications industry with the U.S. Army’s Public Information Office. He served during
Vietnam, where he said he was “luckily” stationed in the middle of Texas at Fort Hood. He left the service and went to work in public affairs and motorsports at Ford Motor Company in Detroit. After a stint at Bell and Howell, where he was responsible for managing Ford’s dealer marketing and training, the entrepreneurial bug hit and he co-founded Jackson-Dawson Marketing Communications, a company specializing in dealer training and product launches for the auto industry in 1980. In 1987, Jackson wanted to move back south and thought Greenville would be a good fit. An avid pilot, he
learned of an opportunity to purchase Cornerstone Aviation, a fixed base operation (FBO) that served as a service station for the Greenville Downtown Airport, providing fuel, maintenance and storage. In fact, when he started the Greenville office of what is now Jackson Marketing Group (JMG) in 1988, the offices were housed on the second floor in an airport hangar. “Clients would get distracted by the airplanes in the hangars and we’d have to corral them to get back upstairs to the meeting,” Jackson said. Jackson sold the FBO in 1993, but says it was a great way to get to know Greenville’s fathers and leaders
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with a majority of them utilizing the general aviation airport as a “corporate gateway to the city.” In 1997, Jackson and his son, Darrell, launched Jackson Motorsports Group. The new division was designed to sell race tires and go to racetracks to sell and mount the tires. Darrell Jackson now serves as president of the motorsports group and Larry Jackson has two other children and a son-in-law who work there. Jackson said all his children started at the bottom and “earned their way up.” Jackson kept the Jackson-Dawson branches in Detroit and others in Los Angeles and New York until he sold his portion of that partnership in 2009 as part of his estate planning. The company now operates a small office in Charlotte, but its main headquarters are in Greenville in a large office space off Woodruff Road, complete with a vision gallery that displays local artwork and an auditorium Jackson makes available for non-profit use. The Motorsports Group is housed in an additional 26,000 square feet building just down the street, and the agency is currently looking for another 20,000 square feet. Jackson said JMG has expanded into other verticals such as financial, healthcare, manufacturing and pro-bono work, but still has a strong focus on the auto industry and transportation. It’s
2003 motorsports Division acquires an additional 26,000 sq. ft. of warehouse space
1998 1998 Jackson Dawson moves to task industrial Court
also one of the few marketing companies in South Carolina to handle all aspects of a project in-house, with four suites handling video production, copywriting, media and research and web design. Clients include heavyweights such as BMW, Bob Jones University, the Peace Center, Michelin and Sage Automotive. Recent projects have included an interactive mobile application for Milliken’s arboretum and 600-acre Spartanburg campus and a marketing campaign for the 2013 Big League World Series. “In my opinion, our greatest single achievement is the longevity of our client relationships,” said Darrell Jackson. “Our first client from back in 1988 is still a client today. I can count on one hand the number of clients who have gone elsewhere in the past decade.” Larry Jackson says his Christian faith and belief in service to others, coupled with business values rooted in solving clients’ problems, have kept
2009 Jackson Dawson changes name to Jackson marketing Group when larry sells his partnership in Detroit and lA 2003
2009-2012 Jackson marketing Group named a top BtoB agency by BtoB magazine 4 years running
him going and growing his business over the years. He is passionate about giving back and outreach to non-profits. The company was recently awarded the Community Foundation Spirit Award. The company reaffirmed its commitment to serving the community last week by celebrating its 25th anniversary with a birthday party and a 25-hour Serve-A-Thon partnership with Hands on Greenville and Habitat for Humanity. JMG’s 103 full-time employees worked in shifts around the clock on October 22 and 23 to help construct a house for a deserving family. As Jackson inches towards retirement, he says he hasn’t quite figured out his succession plan yet, but sees the companies staying under the same umbrella. He wants to continue to strategically grow the business. “From the beginning, my father has taught me that this business is all about our people – both our clients and our associates,” said his son, Darrell. “We have created a focus and a culture that strives to solve problems, serve people and grow careers.” Darrell Jackson said he wants to “continue helping lead a culture where we solve, serve and grow. If we are successful, we will continue to grow towards our ultimate goal of becoming the leading integrated marketing communications brand in the Southeast.”
2011 Jackson marketing Group/Jackson motorsports Group employee base reaches 100 people
2008 2012 Jackson marketing Group recognized by Community Foundation with Creative spirit Award
pro-bono/non-proFit Clients American Red Cross of Western Carolinas Metropolitan Arts Council Artisphere Big League World Series The Wilds Advance SC South Carolina Charities, Inc. Aloft Hidden Treasure Christian School
CoMMUnitY inVolVeMent & boarD positions lArry JACkson (ChAirmAn): Bob Jones University Board chairman, The Wilds Christian Camp and Conference Center board member, Gospel Fellowship Association board member, Past Greenville Area Development Corporation board member, Past Chamber of Commerce Headquarters Recruiting Committee member, Past Greenville Tech Foundation board member David Jones (Vice President Client services, Chief marketing officer): Hands on Greenville board chairman mike Zeller (Vice President, Brand marketing): Artisphere Board, Metropolitan Arts Council Board, American Red Cross Board, Greenville Tech Foundation Board, South Carolina Chamber Board eric Jackson (Jackson motorsports Group sales specialist): Salvation Army Boys & Girls Club Advisory Board
November 1, 2013 Upstate bUsiness joUrnal 21
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WE’RE BUILDING A
BRIGHT FUTURE The Upstate has been my home for as long as I can remember, and there’s no place I’d rather be (except maybe the 7th green at Pebble Beach). As a volunteer with March of Dimes, Junior Achievement and my church, I am inspired by the vibrant and generous spirit here. And as a Business Banker with CertusBank, I have the privilege of working with businesses who are important to our community’s growth. My #1 goal is to support their success to help the Upstate continue moving forward — for my family, and yours. Let me know how I can support you: KenCummings@CertusBank.com
Ken Cummings Business and Community Banker Greenville, SC
CertusBank, N.A. Equal opportunity lender. ©2014 CertusHoldings, Inc. All rights reserved. CertusBank, N.A. is a trademark of CertusHoldings, Inc.
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