Oct. 24, 2014 UBJ

OCTOBER 24, 2014

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UBJ LEADERSHIP Leaders think deep at Clemson summit JENNIFER OLADIPO SENIOR BUSINESS WRITER

TheUpstate BusinessJournal

joladipo@communityjournals.com

Upstate Business Journal

@UpstateBiz

spent this week taking a close look at leadership and what it means to them and their communities. At Clemson University’s annual Leadership Summit, the group heard from Elizabeth Colbert-Busch, director of business development at the Clemson University Restoration Institute SCE&G Energy Innovation Center and recent candidate for South Carolina’s First Congressional District seat.

Colbert-Busch discussed the arc of her career and wanted an open discussion where she would also hear from her audience.

“What I find fascinating is that when you actually think about it, we have so much more in common than the things that pull us apart. If we could focus together on common goals, we reach them, and that’s when we can really make great things happen for all of us,” Colbert-Busch told UBJ before her talk.

She said life presents many milestones where people are called to step into a leadership role.

Attendees include entrepreneurs and executives from large and small companies and other organizations.

This year’s class was still ongoing at press time, but Mike Williams, director of leadership development at Michelin, said his experience in the inaugural class in 2010 left a lasting impression.

“It gave me the unique opportunity to reflect on what it takes to be an effective leader,” said Williams, who still has his notes from that week. He said they discussed topics such as courage, personal development, integrity and creativity, some of which he saw as personal growth opportunities. The group still stays in touch, sometimes discussing

Photo by Greg Beckner

A small group of professionals

leadership principles over cocktails.

Williams said his experience was typical. He learned about a hidden aspect of his leadership ability when his group chose him to be their spokesperson for the week. “Since then I’ve taken over as chairperson of the African-American employee resource group here at Michelin,” he said. “That wasn’t something I’d been striving to become, but recognizing that there’s people who believe in you, and that you can create a vision, and that there’s a need for somebody to step up, I did.”

The group project in 2010, a staple in the program, was to give input on Falls Park, remembered Williams. “It wasn’t just a case study, it was actually soliciting ideas from us,” Williams said. “They wanted to make sure they were doing this thing the right way and make sure they’re not missing something…

I feel very much a part of the solution to Falls Park.”

When asked what she hoped would be the takeaway from her talk, Colbert-Busch said, “We all have our stories, and interesting lives and things that we’re passionate about.

It’s what you do with them that makes a difference. It’s how you approach life. We are a community.

Your stories become ours, too.”

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October 24, 2014

UPSTATE BUSINESS JOURNAL

3

Volume 3, Issue 43

October 24, 2014

Photo by Emily Price

Top-of-mind and in the mix this week

MONEY SHOT: This message, scribbled on the wall at the NEXT Innovation Center, served as inspiration to the participants of Greenville’s first Startup Weekend. Read more on page 10.

WORTH REPEATING

TBA

“Downtown Greenville is about as good as it gets. We’re excited to add to our downtown.”

The Exchange Company, a bakery and coffee shop, is reportedly coming to downtown Simpsonville…

Brody Glenn, president of Centennial American Properties, on plans for the 4-acre Greenville News site on Main Street.

“South Carolina needs to get over any inferiority complex it might have.”

John Feltman, CEO of Atlanta-based Brookhaven Medical, on the state’s unique environment for biotech development.

“If we could focus together on common goals, we reach them, and that’s when we can really make great things happen for all of us.”

Elizabeth Colbert-Busch, onetime Congressional candidate, on her motivation for speaking at Clemson’s Leadership Summit.

4

UPSTATE BUSINESS JOURNAL

Plans are moving forward for The Alley, a boutique bowling and music venue slated for the former Handlebar space on Stone Avenue. Neighborhood meetings are scheduled and the project will go before the city Board of Zoning Appeals on Nov. 20. Stay tuned…

October 24, 2014

VERBATIM

On the Stars and Bars…

“What I can tell you is over the last three and a half years, I spent a lot of my days on the phones with CEOs and recruiting jobs to this state.

I can honestly say I have not had one conversation with a single CEO about the Confederate flag.”

Gov. Nikki Haley in a debate last week, acknowledging that the display of the Confederate flag at the Statehouse was a “sensitive issue,” but rejecting calls to remove it.

UBJ RETAIL

Strong Greenville roots.

With more branches than ever.

Orvis casts for Nov. 1 opening in Greenville sjackson@communityjournals.com Crews are working on the finishing touches for the 5,000-squarefoot Orvis store at ONE City Plaza.

The outdoor high-end fly-fishing, hunting and sporting goods store is planning on a Nov. 1 soft opening with a grand opening celebration planned for Dec. 5-7.

The store is a “typical” Orvis retail store and will carry fly-fishing equipment, men’s and women’s apparel and a limited dog and home goods selection. Customers can order any catalog items at the store and they’ll be shipped free of charge, said Orvis retail logistics manager Andrea Berumen. The store will employ 10-15 people.

A full-service fly-fishing department will be on site with a designated fly-fishing manager.

Fly-Fishing 101 classes will be held on Saturdays during the spring, and several times a year the store will sponsor o t h e r fly-fishing seminars a n d events.

The Orvis store will also work with local guides and lodges to book guided trips for customers.

“We work to get our customers the best experience possible,” said Berumen.

This is the Vermont-based

retailer’s 66th retail store – the first Orvis store in the Upstate and the second one in South Carolina.

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.

At the Dec. 5-7 grand opening event, the store will have drawings, live music, food and refreshments.

They’ll also give out reusable Orvis tote bags and other promotional items. A local conservation partner will also be named and a portion of the grand opening proceeds will go to that charity or organization, said Berumen.

Although we’ve changed our name from SCBT to South State Bank, when you visit any of our Greenville offices, you’ll see the same familiar faces and receive the same great service you’ve come to expect. Plus, with more than 135 banking locations to serve you in North Carolina, South Carolina and Georgia, you’ll enjoy a little extra added convenience as well.

http://www.orvis.com

SHERRY JACKSON | STAFF

200 East Broad Street, Suite 100 | (864) 250-4455 45 E. Antrim Drive | (864) 527-5180 3622 Pelham Road | (864) 254-9460 1006 E Butler Road | (864) 297-6333 1 Five Forks Plaza Court | (864) 234-3955 SouthStateBank.com | Member FDIC

October 24, 2014

UPSTATE BUSINESS JOURNAL

5

UBJ TECH BYTES & TRANSPORTATION The Greenville Chamber Congratulates our October 2014 Small Business of the Month!

C Carlo White AGENCY

Award Presentation: Chamber President/CEO Ben Haskew, Award Sponsor Ken Pelanda/Charter Business, Board Chair Tim Reed, Cheryl Taylor/ Award Committee, Carlo White Agency’s Carlo White and Carlos Camargo, and Small Business Vice-Chair Steve Bailey.

White Holdings, LLC is a Nationwide Insurance financial service firm focused on serving its community by providing comprehensive financial solutions for its clients. Founded in 2004 by Carlo White, they currently have five locations in South Carolina and North Carolina with plans to expand to Georgia, Alabama and Tennessee by 2020.

White Holdings directly contributes its vision to expand its capacity to serve the southeast region to the Greenville Chamber’s Minority Business Accelerator program. As a participant of the inaugural program, White Holdings received access to a business consultant that provided the information needed in order to expand outside of the Upstate.

Impressed by a local small business? Nominate them for the Greenville Chamber’s Small Business of the Month Award at www.GreenvilleChamber.org.

6

UPSTATE BUSINESS JOURNAL

October 24, 2014

NUBAD receives tech transfer funds APRIL A. MORRIS | STAFF

amorris@communityjournals.com NUBAD, a drug discovery company based in Greenville and founded to bring Clemson University’s chemistry department’s technology to market, announced it has received Small Business Technology Transfer (STTR) matching funds from SCRA Technology Ventures’ SC Launch to develop peptide antibiotic nucleic acids.

With a lab in the Greenville Health’s System’s Institute for Translational Oncology Research (ITOR), NUBAD is working to identify therapies that target nucleic

acids and can be used to develop DNA-targeting drugs. The company was accepted to SC Launch in 2012 and founded in 2009.

“We are delighted to announce another SC Launch company receiving SBIR/STTR matching funds from our technology-based economic development program,” said SCRA CEO Bill Mahoney. “The program’s funding match helps South Carolina’s emerging technology companies further commercialize their research, growing our Knowledge Economy. We look forward to the great technologies and contributions that NUBAD will bring to our economy.”

Southern Connector revenues climb 8% JOE TOPPE | STAFF

jtoppe@communityjournals.com Over the first three quarters of 2014, the Southern Connector is reporting increases of 10.4 percent in transactions and 8.6 percent in revenue when compared to the same timeframe last year.

From January through the end of September, the toll road, a 16-mile portion of I-185 in Greenville County, registered an additional 355,429 transactions totaling $3,790,547 and an additional $438,515 in revenue totaling $5,570,136.

Peter Femia, executive vice president and general manager of the Southern Connector, said many factors contributed to the growth in 2014.

The economy is improving, he said.

“We are seeing additional housing being built in the area, and we are seeing more trucks on the road, which is hopefully an indication that manufacturing is picking up.”

Femia said the toll road’s significant traffic increases began as early

as the summer of 2013.

July and August of this year represent the two greatest months for revenue in the Southern Connector’s history, he said.

➤ NUMBERED JULY Transactions: INCREASED 13.8% (54,871) to $452,711 over 2013 Revenue: INCREASED 13.5% ($80,165) to $673,534 over 2013 AUGUST Transactions: INCREASED 6.3 % ($26,684) to $452,473 over 2013 Revenue: INCREASED 7.3% ($45,607) to $673,388 over 2013 SEPTEMBER Transactions: INCREASED 7.4% ($30,391) to $443,906 over 2013 Revenue: INCREASED 6.5% ($39,529) to $647,128 over 2013

UBJ EMPLOYMENT State unemployment rate continues upward climb JOE TOPPE | STAFF

jtoppe@communityjournals.com For the third consecutive month, the South Carolina Department of Employment and Workforce is reporting an increase in the Palmetto State’s seasonally adjusted unemployment rate, which rose to 6.6 percent during September.

The number of unemployed persons rose by 6,437 over the month, topping out at 144,388 statewide.

The revised unemployment rate for August was 6.3 percent.

Despite the rise in the seasonally adjusted unemployment rate, the number of workers in South Carolina rose by more than 2,500 to just over 2 million across the state.

During September, the state’s labor force increased by 8,964 people to 2,182,781, according to the report.

Although South Carolina’s labor force was slightly boosted throughout the month, the state’s latest participation rate was reported at a mere 57.9 percent.

A recent study by the Brooking Institution showed slow wage growth is contributing to the low numbers in job force participation. Clemson economist Bruce Yandle said longterm wage increases depend on growing labor productivity.

“There must be significant investments in education and wellness,” he said.

As the state’s labor force remains low and employee salaries remain stagnant, Yandle said consumer product industries across the Upstate would be affected most by the lower wages.

A lower wage reduces the growth of consumer demand, he said.

Because of the current labor force conditions, the composition of imports will change as consumers continue to purchase goods and services from other places where labor forces are growing.

Nationally, the labor force participation rate is at 63.2 percent, the lowest since January 2004.

According to the South Carolina Department of Employment and Workforce, the country’s unemployment rate decreased to 5.9 percent in September after topping out at 6.1 percent in August.

Using seasonally adjusted data, total nonfarm employment in South Carolina increased by 13,000 workers in September with the leisure and hospitality sector experiencing the greatest monthly increase as 3,700 additional employees joined the workforce.

➤ NUMBERED

+6,437

increase in unemployed in SC in September (to 144,388)

+2,527

increase in working South Carolinians (to 2,038,393)

+1,300

jobs added in Greenville MSA (totaling 321,700)

+900

jobs added in Spartanburg MSA (totaling 131,200)

+300

jobs added in Anderson MSA (totaling 67,200)

57.9%

labor participation rate in the state

Source: SC DEW seasonally adjusted data

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UPSTATE BUSINESS JOURNAL

7

UBJ BIOTECH Growing organs and billion-dollar ideas SCBIO highlights state’s bioscience innovation APRIL A. MORRIS | STAFF

amorris@communityjournals.com The South Carolina Biotechnology Industry Association (SCBIO) brought together biotech companies, aspiring entrepreneurs and national and international players for networking, updates and opportunities during its recent conference in Greenville. The good news is that biotech companies are opting to stay in the state rather than relocate.

Challenges include recruiting skilled labor and locating funding for startups and expansion.

Biotech has been a part of South Carolina’s industrial base for decades, but has taken off in the last 10 years.

Upstate industries, health care and

universities have routinely partnered on projects to develop everything from bioprinting for growing tissue to genetic molecular panels for detecting cancer biomarkers.

WEAVING THE PAST AND THE FUTURE Greenville-based Izumi International began as a textile equipment business in 1977, moved into textile parts and then into carbon fiber about 15 years ago, said Mike Chappell, R & D engineering manager.

After adding industrial automation about eight years ago, Izumi connected with the Medical University of South Carolina (MUSC) researchers last year and used their production knowledge in the industrial

market to build a bioprinter, he said.

The 3-D printer creates scaffolding for lab-grown tissue.

Bioscience researchers have labs and sometimes try to create products, but without industrial equipment. Industrial producers like Izumi can help researchers skip a step and go to “scalable, industrial production right off the bat,” said Chappell. Izumi has now hired a bioengineer to help find researchers or companies who need production assistance, he added.

BILLION-DOLLAR IDEAS John Feltman, CEO of Atlanta-based Brookhaven Medical, said he was impressed that S.C.-based CreatiVasc Medical raised “$3 million in 2008 when no one could raise

money.” Feltman invested $5 million in CreatiVasc in 2013, and the company is poised to produce an innovative product in dialysis treatment – a billion-dollar idea, said CreatiVasc CEO Steve Johnson. CreatiVasc and Brookhaven Medical are set to merge with FutureMatrix Interventional, a company Feltman has been involved with for nearly 20 years.

CreatiVasc has created a hemoaccess device that works as an on/off switch for blood in patients undergoing dialysis treatment, avoiding the 75-percent failure rate in the first year associated with a traditional graft, said Johnson. The technology is on the cusp of becoming the standard of care for dialysis, he said.

And how to solve the problem of getting rid of the needle-activated

Pedrick’s Garden at Falls Park

UBJ BIOTECH version was found at the Southeastern Institute of Manufacturing and Technology (SIMT) in Florence, which created a version activated by an external magnetic device. CreatiVasc has opted to move its design and component manufacturing to South Carolina, he said. The new device is expected to be approved by the U.S. Food and Drug Administration (FDA) in 2016.

CHALLENGES AHEAD Finding funding for startups and production of biotech products is still a challenge for many companies and developers. Michael Gara, director of technology development at CUBEInc., a Clemson University and Greenville Health System collaboration, said that investors want a quick return, and bioscience projects take more time than some are willing to wait. Gara said there are not many life science investors in the Southeast and they have so much appetite and funds.

Joe Clark, right, managing shareholder of Haynsworth Sinkler Boyd and moderator of the SCBIO Conference panel discussion “Funding, Finagling, Financing: Key Issues for Startups and Investor Relations,” talks with other panel members before the start of the discussion at the Hyatt Regency in downtown Greenville.

Photos by Greg Beckner

SCBIO hosted a panel on obtaining government funding, and Van Hipp of American Defense International

outlined the hottest areas for military-backed research and production, including wound care, brain health, infectious disease, radiation protection and vaccine delivery.

ECONOMIC DEVELOPMENT & IMPACT

TRANSFORMING COMMUNIT Y Shaping spaces that enhance an exceptional city

Biotech is making its mark on the state, and there is a movement away from the state exporting its companies to other areas, said Sam Konduros, executive director of the Greenville Health System Research and Development Corporation.

Umesh Dalvi, CEO of The Ritedose Corp. in Richland County, told attendees that his company that makes blow-fill-seal packaging for pharmaceuticals would be at production capacity within three years. They had considered moving to a larger facility but will stay in South Carolina and construct a 80,000-squarefoot expansion and invest $110 million. One of the challenges is finding, screening and hiring quality employees, said Dalvi.

Konduros said that the fledgling GHS Research and Development Corp. is seeking ways to support business and economic development that aligns with the health system’s mission of improving the region’s health. Focus is on technology transfer in developing intellectual property, fostering industry collabo-

October 24, 2014

rations and assisting in economic development.

The new corporation creates a vehicle to move collaborations like those between GHS’s ITOR (Institute for Translational Oncology Research) and Selah Genomics into the marketplace, he said.

“Data is showing us over and over, as a hospital, we can only move that needle [area health] a little bit. Socioeconomic factors are the biggest driver in terms of regional health either getting better or worse,” Konduros said. “That has helped build the case for our engagement in economic development as the largest health care system, largest employer [in the Upstate].” One goal is to create the sort of economic impact made by Houston’s Texas Medical Center, he said.

‘MAKING OUR PRESENCE KNOWN’ South Carolina has created a unique environment for biotech development, said John Feltman: “South Carolina needs to get over any inferiority complex it might have.”

Sam Konduros concurred. “South Carolina used to be metaphorically in a valley between Research Triangle Park and Atlanta in the life sciences industry,” he said. “Now we are really making our presence known.”

UPSTATE BUSINESS JOURNAL

9

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October 24, 2014

form aimed at helping first responders save time in emergencies – won first place at Greenville’s first Startup Weekend, a high-energy competition that challenged teams to build a business from the ground up in 54 hours.

Second-place winner Pecan Exchange connects pecan growers and retailers to negotiate a fairer price.

Third-place winner Prospect provides Craigslist sellers a platform to better manage their posts and keep track of potential buyers.

The Greenville competition – the second in the Upstate – is an educational model powered by Google for Entrepreneurs and replicated in more than 200 cities around the world. The idea originated in Seattle with a group of entrepreneurs who launched a nonprofit to bring people together for weekend-long workshops to pitch ideas, form teams, and start companies.

As a member of Greenville’s organizing team, here are a few takeaways I learned:

1. HOW WE CONCEIVE SCHOOL IS RAPIDLY CHANGING, AND THAT’S A GOOD THING. Startup Weekend is a learning model that’s widely embraced, adheres to a structure and is replicable. And it’s institutionalized, just not in the traditional sense of the academy/university. Instead it’s directly tied to industry, supported by a reputable business organization (Google).

SW Greenville’s 60 participants formed nine teams and developed nine business models – aided by numerous coaches and mentors who have all experienced success in their various industries.

People spent the weekend teaching each other by working together. Lots of conversation between folks owning

varying skill sets and from multiple sectors. All this led to tons of not just new contacts, but new ideas and new skills.

Obviously, there’s a place for new educational models that don’t adhere to the “school” structure – and this is happening right in our backyard.

2. “CODING IS GOOD FOR YOU(TH).”

It’s no secret that South Carolina’s education system has a pretty poor national reputation. But while it’s not inherent to our identity quite yet, the Upstate is a hotbed for innovative, adaptable methods of learning >>

STARTUP WEEKEND TEAMS ProAlert – 1st place A GPS-embedded app for first responders that makes protocols more accessible Pecan Exchange – 2nd place A tool to connect pecan farmers and their product to small business retailers Prospect – 3rd place An app that makes the Craigslist experience more efficient and organized for sellers and buyers and protects privacy No Drop Software that helps nonprofits monitor their mentor/mentee relationships and track outcomes Resume Bullet A Web-based tool that handles resume customization and connects job-seekers with relevant employers and opportunities Trailblazr A community-focused fitness app for runners and cyclists to track routes and compete with friends Tandem A social tool for location-based language learning Small Business Startup Kits Tools that help small businesses create a searchable digital presence Savvy Box A family subscription service providing monthly project kits that introduce children to technology

UBJ ENTREPRENEURS >> rooted in industry over academia (think: CU-ICAR) – and could be a hotbed for tech.

Joe Tamburro is the CEO and founder of Rye Development and participated in SW as a mentor/coach.

“If you looked 50 years ago, entrepreneurs and startups were a lot more manufacturing-oriented,” Tamburro said. “Now we’re this big service economy and a lot of services are provided through software. So to me, it’s kind of the next Industrial Revolution, so to speak: tech companies people don’t see because you don’t see them driving their product down the road at 90 miles an hour like BMW.” Aside from Sunday night’s team presentations in The Palmetto Bank’s ballroom, the rest of SW took place at the NEXT Innovation Center, where The Iron Yard Greenville – SW’s host – is located.

The Iron Yard is touted as the

largest coding school in the country.

It educates students in its intensive, non-traditional 12-week coding and business incubator programs, creating a flux of knowledgeable site and app developers and tech-minded entrepreneurs in our community; many of whom were either competing or mentoring at SW. “Everywhere in the country has had an issue hiring developers,” Tamburro said. “As far as the Southeast, there are a lot of companies here that need programming, or are built on outdated technologies. Iron Yard has bridged that juncture.”

What we can see happening in these new “schools” of thought is a cycle of industry-influenced, industry-led educational models that work to tackle a community’s specific strengths (the Upstate’s willingness for community collaboration) and weaknesses (a lack of trained developers in the area) to boost economic development.

3. THE CREATIVE PROCESS CAN BE LEARNED AND MUST BE TAUGHT. Entrepreneurship and the development of new technologies share many defining features, but the creative process is at their core.

Jay Wilson Jr. changed groups twice before deciding to run with ProAlert, an idea he says he had for years as a firefighter and EMT in Virginia.

“I’ve never built anything in a weekend,” he said. “Not that I built it – it was myself and three other people – but it’s crazy to think we could come together and do something like this.”

When it comes to teaching and learning the creative process, minimal structure seems to be the best structure. At SW, no one is taking attendance. Teams self-form, change and evolve, as do the business ideas that were originally pitched.

Ben Riddle, who led team No

Drop, software for nonprofits to monitor mentor relationships, said a defining characteristic of the event is “giving people the space to fail safely. You can pitch ideas in an environment where any idea is an OK idea to share with others.”

Education should provide a safe place for students to fail. But students have to be producing to fail. They need that freedom of engaging in the creative process – and that’s hard to find in a multiple-choice test booklet.

But perhaps the biggest lesson from SW Greenville is this, scribbled large on the wall outside of The Iron Yard’s door in the NEXT building:

4. “THE DREAM IS FREE. HUSTLE SOLD SEPARATELY.”

more online For more photos and video of Startup Weekend, visit

upstatebusinessjournal.com

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UBJ VENTURE CAPITAL VC investment remains sparse in S.C. JENNIFER OLADIPO SENIOR BUSINESS WRITER

joladipo@communityjournals.com A quarterly snapshot of venture capital (VC) activity shows little action in South Carolina. In the report released last week by the National Venture Capital Association and PricewaterhouseCoopers, $47.7 million in VC investment went to S.C. companies out of $808 million in the Southeast.

In the five VC deals so far in 2014, only early-stage and later-stage companies have drawn investment.

Area investment experts have said companies in the expansion stage have a notoriously difficult time attracting necessary investment for continued growth. Last year was a

standout year with a grand total of 14 deals, after a closer-to-normal five deals in 2012.

Matt Dunbar, managing director of the Upstate Carolina Angel Network, said identifying a trend is difficult with such little data; there is generally a slow, steady improvement in quality deal flow that will slowly lead to more venture activity.

However, the VC market overall is likely to pull back or level off a bit in coming quarters.

Nationally, software far outpaces other industries for VC investment, and the state’s lone $8 million investment this quarter was in Zubie, a Sullivan’s Island software company. But biotechnology is third after media and entertainment.

Medical devices and equipment are

also in the top five categories. That means South Carolina’s biotech industry could be a draw for investment, yet there hasn’t been any VC investment in SC biotech since 2011.

Before that, it was 2008. In recent years, software, media and entertainment, and what’s listed as the industrial/energy sector consistently drew the most VC investment in the state.

Deepa Pakianathan, a general partner at Delphi Ventures, based in Menlo Park, Calif., who specializes in biotech investment, said a broad range of companies are attracting VC dollars nationally. That includes startups with no clinical data to companies with lots of data to back up their claims.

Pakianathan said the big news

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UPSTATE BUSINESS JOURNAL

October 24, 2014

S.C.’s Top Deal in Q3: Zubie Inc Investment: $8 million Investor: Nokia Growth Partners, OPENAIR Equity Partners, undisclosed investors Industry: Software City: Sullivan’s Island Business: Device and app the helps auto drivers track and analyze their driving behavior

right now is the reemergence of the acquisition of small biotech companies, which hasn’t seen this much activity since the late 1990s and early 2000s. Indeed, the Upstate saw one example with the acquisition of Selah Genomics by U.K.-based EKF Diagnostics earlier this year.

“There weren’t enough oppor- >>

UBJ VENTURE CAPITAL >>

tunities in the mid midcap world, so people are taking on more risk and moving down the chain.”

Although she has ties to the region from earning degrees at Wake Forest University, Pakianathan said her firm has never invested in the Southeast. Venture funds that invest in the Southeast tend to be Southeast-based. She said the region still

needs to build an infrastructure that supports a critical mass of companies generating enough activity to entice investors from other markets.

She said the best centers are generally built around academic centers.

“I would invest in a company in the Southeast if it met our investment criteria,” she said.

➤ Transactions in South Carolina by quarter and year 2013 2014 Amt Invested

Amt Invested

Industry

2013 Total

2014 Total

Biotechnology

- -

Business Products and Services

-

-

Computers and Peripherals

-

-

Consumer Products and Services

-

-

Financial Services

-

-

Heathcare Services

-

-

Industrial/Energy

34,211,200 38,840,000

IT Services

-

Media/Entertainment

10,000,000 891,000

Medical Devices and Equipment

-

-

-

Quarter

Deals

1

1 23,999,900 1 891,000

2

- -

Networking and Equipment

-

3

1 7,610,000 1 8,000,000

Semiconductors

- -

4

11 54,085,300 - -

Software

41,484,000 8,000,000

Grand Total

14

Telecommunications

- -

Grand Total

85,695,200

85,695,200

Deals

➤ Transactions by amount in South Carolina by industry

3 38,840,000

5

47,731,000

Source: National Venture Capital Association

Scott Hart

47,731,000

Charles Scales

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October 24, 2014

UPSTATE BUSINESS JOURNAL

13

By BLAINE CHILDRESS, Open Innovation leader, Sealed Air Corporation

INNOVATE Movers, shakers and disruptors shaping our future

Don’t fear open innovation Perhaps you recognize the importance of collaborating with external partners to accelerate innovation, but you still have some reservations about Open Innovation. After all, open innovation often requires a shift in culture for both small and large companies.

One question that practitioners face is, “Which aspects of a developmental program are most appropriate for external collaboration?” A good rule is to consider everything except the core strengths and the trade secrets that define your unique brand.

These are often the very ideas that were the genesis of the company, and should remain internal. But other aspects of your product or service may be better positioned outside of your company walls. Including external ideas into your developments will often uncover fresh solutions that may not have been considered by your seasoned engineering or science team.

Let’s briefly consider some OI concerns and best practices.

1. “MY JOB IS BEING OUTSOURCED” This is frequently encountered within an R&D team. But Open Innovation efforts seek to advance technology. Its true purpose is not to displace skilled workers, but to identify and add new skills and technical solutions that are presently absent in the organization.

If properly executed, those new abilities will do far more than solve today’s problem. Properly implemented, the imported technologies will excite employees by equipping them with tools that they may use to attack other longstanding problems.

2. SELF-IMPORTANCE New, younger companies are staffed with highly motivated, often brilliant and inventive people. But as a small company, your idea or new technology is rather narrowly focused.

14

their ideas and suck the life out of their company.

But the horror story is seldom true.

The large corporation has already decided it needs a partner to succeed before engaging in OI. Moreover, the large company will make more money as the smaller partner company prospers.

So if you are a large entity, be aware of the fears of smaller firms.

Maintain frequent contact with your new partner and openly listen to any concerns that may invite unfounded distrust.

Recognize that you do not have all of the answers. The technology that impresses your customers may not match the needs of some large corporation’s very different application.

Conversely, the large entity may boast large patent lists but lack the ability to solve some problem outside of its historical practice. Each must recognize the unique value they will play in achieving success; and respect the partner’s contributions.

3. PUTTING LEGAL AHEAD OF BUSINESS Let’s face it: Most attorneys have a different mindset than researchers.

They are expected to look for problems and exhaustively hunt for “what ifs” that may arise. While important, if attorneys are involved too early in an OI process, their myriad questions tend to confuse real intent and may create a level of distrust. At the early stages of collaboration you do not yet have a partnership. So postpone that law department call.

Instead conduct person-to person discussions by phone – or if practical, face-to-face. Establish trust. Really understand your future partner’s

UPSTATE BUSINESS JOURNAL

October 24, 2014

talent and position. Discuss in general terms what you want to achieve, and how their resources can help you get there sooner.

When those early, non-confidential discussions show promise, contact the attorney to help draft a confidentiality agreement. This will permit open, detailed discussion of the project purpose and the value each will gain from the co-development.

Stay involved. Try to avoid lawyer-to-lawyer paper exchanges. Those tend to weigh down the process with wordsmithing and focus on issues other than the business opportunity.

Long, costly delays can sap the energy from the project. Keep in touch with your future partner so that legal delays are not misunderstood as lost interest.

4. VAMPIRISM Corporate distrust is a common problem and an apt horror story for October. Small companies are almost always nervous when dealing with large corporations. They worry that the large multinational corporation, with its organizational layers and delays, is secretly scheming to grab

No matter your size or specific expertise, open innovation can lead to new, transformative opportunities.

Could a paper company like Hallmark have commercialized talking, blinking cards without an OI partner? Of course not. Their core strength in heartfelt words and beautiful printed cards did not anticipate any need for electronics skill. An external partner was a necessity.

Today’s competitive environment does not permit the market delay of innovative products while one develops a skill set that is present in the firm. Instead, engage external partners to help you provide the innovation earlier, and often less expensively. But utilize best practices.

Recognize the unique value each partner brings to the project; develop a trusting, personal relationship with the new partner; and do not permit internal pride to interfere with co-creating the innovation prize.

DEFINED Open innovation is a paradigm that assumes that firms can and should use external ideas as well as internal ideas, and internal and external paths to market, as the firms look to advance their technology.

Henry William Chesbrough, “Open Innovation: The new imperative for creating and profiting from technology,” Harvard Business School Press

By LAURA HAIGHT, president, portfoliosc.com

DIGITAL MAVEN The technical side of business

Working small without looking small-time Make a one-man show look like a much bigger band So much of life is appearances, and

states) and allows you to route incoming business calls to your cell, home phone or both. You can record a custom message, and Google Voice will even send you an email with a link to a voicemail message and a written transcription (that’s not so great, though). Other apps like Line 2 provide similar services for a relatively small monthly fee.

Small, we may be. But we don’t have to look it!

yet when it comes to business many of us are not putting our best foot forward.

Single proprietorships, independent contractors and small consultants are a booming segment of one- or two-person service businesses. We may be small, but we don’t want to look that way. And it doesn’t have to cost a lot to make a big difference in how you present yourself.

Here are a few ideas:

JUST SAYIN’

NOTHING SAYS SMALL-TIME LIKE YOUR EMAIL ADDRESS. It’s everywhere. On your business cards, your Facebook page, your LinkedIn profile. And what does it say? portfoliosc@gmail.com. Get real. If you have a website, you have already purchased a custom domain.

That domain can be used for your email as well. Wouldn’t you rather have laura@portfoliosc.com on your business card?

If you buy your Web domain from GoDaddy or another large retail provider, it can probably host your email – if you don’t mind a clunky webmail interface with minimal features. But if you want the advantages of gmail, you can have that too with Google Apps for Business. A single proprietor or small business can point gmail to a custom domain as well as get a number of additional features and cloud storage for documents for $5 per month per user.

While not technically “free,” this does fall into my definition of “nearfree” (is it less than a cup of coffee at Starbucks?). There are a number of other options that range from $2 per user to $10 and you can find many of them here: http://goo.gl/jl1LPz.

MAKE YOUR OWN WEBSITE? Sure, why not. The tools are there on Wix, Squarespace, 1and1 and

16

If you have followed these columns even occasionally, you probably know that – in a world divided into Apple People and Everybody Else – I am an Apple Person. Still, sometimes it does get to be a little ridiculous.

It doesn’t have to cost a lot to make a big difference in how you present yourself. others, but will it look like you did it yourself? If so, stop right now. Bad websites are riddled with bells and whistles at the expense of clear, concise information.

A basic brochure website can be powerful and effective. Choose good images that appear to match in tone and color; write well-thought-out and concise information about your business and your background and experience; provide a simple contact form so people can get in touch with you right from your site. And make sure you use a service that has responsive templates – meaning they will display correctly on all devices.

UPSTATE BUSINESS JOURNAL

October 24, 2014

If just reading this is confusing, no worries: There are many local providers who can produce sites like this quickly and inexpensively. If you do build it yourself, make sure to point your site to your custom domain.

Another “tell” that may make you appear small-time: a website URL that’s portfoliosc.squarespace.com instead of portfoliosc.com.

COMMUNICATIONS. Phone systems are expensive, and most of us with small one- to two-person businesses don’t make that investment. We work on our smartphones. But I don’t necessarily want clients to have my personal cellphone number; nor do I want them to get the casual, personal greeting that most of us use on personal phones.

Technology has an app for that.

Several, in fact. One is Google Voice (available as part of Google Apps for Business) that gives you a phone number (pick your area code if you do business in multiple cities or

The Apple press fell all over itself last week extolling the virtues of the even thinner, even cooler iPad Air 2, the inclusion of Touch ID and some other ho-hum cosmetic or supertechy enhancements. Even Apple, the driving force behind the mobile revolution, has to admit that these changes don’t warrant a new release. Stop egging us into replacing perfectly good devices with a new device that is nearly the exact same thing.

If you have an iPad Air, you’re in luck – it’s a great device that has not been made obsolete. There is no reason to replace it unless you just want it.

You can go back to Smash Hit now.

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5 IDEAS TO KEEP YOUR FINANCES ON TRACK AS 2014 WINDS DOWN

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Be mindful of RMDs.

Once you reach age 70½, you’re generally required to start taking required minimum distributions (RMDs) from any traditional IRAs or employersponsored retirement plans. Failure to take your RMD may result in a hefty tax penalty.

Review capital gains and losses. Your financial advisor should try to be tax sensitive throughout the year and, at year-end, review your capital gains & losses. We work with our clients’ CPAs to find out what carryover losses they may have available to use towards capital gains for the current year.

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Maximize your contributions.

The window to make pre-tax contributions to an employersponsored retirement plan like a 401(k) closes on December 31.

Contributions to a traditional IRA can reduce your taxable income.

And while contributions to a Roth IRA aren’t deductible, they’re still worth considering because qualified distributions are free from federal income tax.

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Plan your charitable giving.

Don’t miss your last chance for charitable giving for the year. Keep in mind that highly appreciated stock is a good candidate for gifting – you gift the stock versus selling it and paying capital gains. We work with our clients and their chosen organization to implement best procedures.

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Prepare for the future.

Whether you expect a new addition to the family or want to build a new addition to your house, this is a great time to start thinking about next year and the life events that might impact your budget and investments.

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By BRIAN MURPHY, attorney, Stephenson & Murphy LLC

PROFESSIONAL Strategies for honing your professional skills

The duty of loyalty

When and how can an employee attempt to compete with his employer?

Part 1 of a three-part series on employee competition In the 1880s, Thomas Edison hired a young Serbian, Nikola Tesla. Edison was developing his direct current (DC) system for power distribution, a revolutionary concept that allowed high voltages of electricity to be transmitted from the generation source to distant communities. Tesla believed he could develop a better method known as alternating current (AC).

While employed by Edison, Tesla developed the AC technology and, after a falling out with Edison, took the technology with him, sold it for $1,000,000 to George Westinghouse, and assisted Westinghouse in competing with Edison in the market for power distribution. Tesla and Westinghouse won, and AC has supplied power to homes and businesses for well over a century.

A Tesla-like success story would never happen today. In order to be hired, Tesla would have to agree to sign voluminous invention, trade secret agreements and restrictive covenants. As soon as Tesla’s employment ended, his employer would threaten to sue him if he violated the boilerplate (and often vague) agreements. If Tesla competed, he and his employer would become embroiled in costly and lengthy litigation.

PROTECTING RIGHTS ON BOTH SIDES The legal issues related to employees competing with current and former employers are multifaceted.

The law attempts to balance the legitimate rights of each party, but it rarely resolves cases quickly or provides parties with clear guidance at the outset. Employers certainly have a reasonable expectation that their legitimate trade secrets will not be stolen, or that employees will not undermine them while employed.

Employees, on the other hand, have

18

a legitimate right to pursue their chosen profession or trade. These interests often are difficult for courts to balance and ensuing litigation can be expensive and draining for all parties involved.

This three-part series will explore the basic legal principles involved in employee competition in South Carolina. It will provide practical steps both business owners and employees can take to protect their respective interests and improve their ability to prevail in court, if necessary.

In this segment, we will explore the common-law duty of loyalty that governs what employees may and may not do while still employed.

NO CLEAR LINES OF COMPETITION South Carolina law recognizes that, while employed, an employee owes his employer a duty of loyalty.

The main cases defining this duty arise in the context of an employee competing directly while employed.

In simple terms, the duty of loyalty prevents an employee from engaging in actual competition with his or her current employer.

During employment, employees may take certain preparatory steps to start a new business without breaching the duty of loyalty. The courts have recognized such steps to include forming a new entity, leasing space, and obtaining letterhead and cards. The key is that they may not actually compete. This would include, for example, intimating to a customer that the employee will get it a better deal if it can just “wait a couple weeks until I make my move.”

Context matters greatly in these cases and what may be permissible in one case can still bog litigants down in factual disputes. For example, some courts have stated that it is not

UPSTATE BUSINESS JOURNAL

October 24, 2014

a breach of the duty of loyalty for an employee to merely notify customers that he is leaving employment and relate his future whereabouts.

However, soliciting business for a future employer, while still employed, is a breach.

The lines are rarely clear and while an employee may argue that no real

Tesla’s success story would never happen today. If he competed, he and his employer would become embroiled in costly and lengthy litigation.

solicitation occurred during a certain conversation, an angry employer is unlikely to accept that assertion at face value. At times, the only way to resolve such disputes is to involve the customer, and customers often hate to be dragged into such disputes.

INTENT MATTERS A judge will sometimes view the scope of the duty of loyalty differently depending on the employee involved.

An hourly employee looking to ply his trade, for example, is likely to be viewed very differently from a high-ranking manager. This is simply a practical application of the principle that individuals higher up in the ranks have a greater opportunity to cause real harm than do, for example, tradespeople simply seeking a better wage.

Nikola Tesla Photo Provided

As a practical matter, courts also look at whether the actions taken during employment as well as actions taken after employment ended to ascertain intent. Many judges seek to determine whether the departing employee’s actions were calculated to harm the employer, or whether the departing employee was merely exercising his right to work in a chosen field.

The duty of loyalty ends when employment terminates. After the employee and employer part ways, the employee is generally free to compete directly with the employer.

There are two common restrictions on this right. The first is contractual restrictive covenants (commonly referred to as “covenants not to compete” and “non-solicit agreements”). The second is the protection the law provides for trade secrets even in the absence of a written agreement.

Both of these topics will be discussed in our next segment.

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GREENVILLE WAS A HUGE SUCCESS!

COVER STORY—JUMPSTART Companies blazing a trail in entrepreneurship

From left, Brian Price, Griffin Bell and Lindsay Carrington of Bell Carrington during a morning meeting in the law firm’s office.

Photos by Greg Beckner

BELL CARRINGTON

builds a case for legal entrepreneurship The law firm has grown from two partners and a paralegal in 2010 to 13 employees and three offices today – and gained a portfolio of deals along Augusta Road JENNIFER OLADIPO | SENIOR BUSINESS WRITER joladipo@communityjournals.com Once they decided to step out on their own, the fellas at Bell Carrington law firm seemed to hit the ground running. It was January 2010, and although the recession had officially ended six months earlier, its psychological and economic toll was far from over. Still, despite “a lot of nerves associated with that, and a lot of uncertainty,” Lindsay Carrington and fellow Wake Forest University alumnus Griffin Bell thought it was a good time to start

20

their own company. With two partners and a paralegal, they were off.

REAL DEALS Artificially low interest rates had contributed to the firm’s growth in real estate, allowing them to build up a business around refinancing transactions. Now they spend more time closing new deals, and the firm is considered by some as the “go-to guys” for deals in the Augusta Road area.

“Augusta Road is my favorite part

UPSTATE BUSINESS JOURNAL

October 24, 2014

of town,” said Bell. “It’s got the charm and location, and it has the retail… overall the area is hot and is going to get hotter.”

Within a couple of years, they became so busy with real estate work that they decided to create a separate commercial real estate division. They also expanded with an office in Columbia. In year three, the firm moved into Charleston. Still, Bell said, the firm was able to keep overhead low.

Brian Price, who heads up the commercial real estate practice, said a small supply of buildings is making Greenville a hot market for investors, and he gets calls every week from California and the Northeast.

Bell and Carrington agreed that bringing Price into the fold in 2012 not only added a valuable high-end line of practice, but also an important measure of cachet. Price, another Wake Forest friend, had spent the previous 12 years at Nexsen Pruet. His

“Augusta Road is my favorite part of town. The area is hot and is going to get hotter.”

-Griffin Bell

commercial real estate practice includes multifamily developments, churches, office buildings and warehouse space, and has become a vital part of Bell Carrington’s business.

The firm’s growth has directly paralleled Greenville’s growth, Bell said. For now, any growth efforts would focus on strengthening rather than expanding its footprint. They’re already out of space in their Greenville office on Cleveland Street. >>

COVER STORY—JUMPSTART Companies blazing a trail in entrepreneurship

>> NEW RULES The biggest challenges they face are yet to come. Federal financial industry regulations will go into effect next year and change the way they do business, Carrington said. The culprit is a new mortgage disclosure rule from the Consumer Financial Protection Bureau (CFPB), which will have the feds keeping track of everyone with whom the banks do business, including lawyers. Carrington said that means the firm will have to make important and expensive changes, from facility security to how paperwork is done.

“Historically, law firms have not been regulated,” Bell said.

Internally, the changing roles that come with a growing company present more subtle challenges.

“I’m more inclined to be in the weeds, like if a computer goes down I want to try and fix the problem,” Carrington said. “It’s a challenge to transition into being more of a manager.”

Price said he also continues to learn how to delegate and build infrastruc-

“I wanted that entrepreneurial experience, but it was a scary thought. I felt like the longer I was in a big firm, the tougher it would be to let that lifestyle go.”

-Lindsay Carrington

ture. “Some of it’s just letting go and finding the right people you can trust,” he said.

They have begun to contract more aspects of running the business to other parties, but the men say working for themselves is more fun, and more rewarding.

firm. Carrington, who had been an undergraduate business major, worked at Parker Poe Adams & Bernstein LLP and felt like the opportunity to be his own boss might slip away.

“I wanted that entrepreneurial experience, but it was a scary thought,” he said. “I felt like the longer I was in [a big firm] the tougher it would be to let that lifestyle go.” So he reached out to Bell, who was at a point of transition in his career and wanted to provide for his large family while gaining some autonomy. He previously worked for Smith Moore Leatherwood (former-

ly known as Leatherwood, Walker, Todd & Mann P.C.).

Price had also been considering going out on his own after more than a decade with a large firm where “you’re just producing stuff and you may never see the results of what you do.” He welcomed the chance to work with friends when Bell and Carrington eventually reached out to him, and appreciates how working in a small firm allows him to experience “the tangibles” of his work. With the firm’s growing presence in commercial real estate, that work is, in some cases, tangible to the whole community.

BOSS MEN Each of the partners said a desire to get more involved in the business of a law practice brought them to the

THE FIRM

DEALS YOU MIGHT KNOW

Brian Price – Commercial real estate, mergers and acquisitions, incorporating Lindsay Carrington – Real estate, litigation, operations Griffin Bell – Real estate, marketing and business development Employees: 12 Offices: 3 (Greenville, Columbia, Charleston)

Assisted purchaser with the recent purchase of Azalea Hills Apartments.

Represented lender in a loan to a hotel being developed on Pelham Road.

Represented purchaser in the purchase of a hotel on Laurens Road.

Represented purchaser in the purchase and redevelopment of an industrial building on Haywood Road.

From left, Lindsay Carrington, Griffin Bell and Brian Price of Bell Carrington stand at the intersection of Augusta and South Main streets in Greenville. The law firm has clients along the two roadways.

October 24, 2014

UPSTATE BUSINESS JOURNAL

21

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Industrial Park – Harper constructed 156,000 SF of Tilt-Up speculative warehouse space while simultaneously completing tenant improvements for A.L. Solutions’ manufacturing process.

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NEW TO THE STREET The freshest faces on the business landscape 1. Wagner Wealth Management recently opened a new location at 301 South McDuffie Street, Anderson. The company also has offices in Greenville and Seneca. For more information, visit wagnerwealthmanagement.com or call 864-231-5494.

2. NAI Earle Furman recently moved its Anderson office to a larger location at 130 E. Earle St. The commercial real estate firm specializes in office, industrial, investment, retail, multifamily, health care and land sectors. For more information, visit naiearlefurman.com.

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Mayor Terence Roberts presents Earle Furman, Chairman, and Jon Good, CEO, with the Anderson office’s first dollar of clear profit.

October 24, 2014

UPSTATE BUSINESS JOURNAL

23

SQUARE FEET Real estate deals and developments across the region

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UPSTATE BUSINESS JOURNAL

October 24, 2014

Plans unveiled for former Corner Pocket space It’s been a little less than a month since the Corner Pocket closed in downtown Greenville and new owners revealed preliminary plans for a new restaurant to occupy its space. Now the picture is filling in a bit more with plans recently filed with the city’s Design Review Board.

The redesign shows a revamped dining room with new outdoor seating, which would be combined with a covered patio area featuring new bifold-type doors that could be

opened all the way or shut, depending on weather.

The new restaurant will have a second-floor dining room with additional seating and a bar, with access via an elevator or stairs.

The Corner Pocket pool hall was founded in 1961 by former S.C. Gov. Carroll Campbell, and has been a mainstay in downtown city nightlife.

The plans are set to be reviewed at the Nov. 6 DRB meeting.

CONSTRUCTION IS SET TO BEGIN IN EARLY 2015 for a new Wal-Mart Neighborhood Market in Clemson at 680 Old Greenville Hwy. The 41,000-square-foot store will have a deli, bakery and pharmacy. The store will also have a gas station.

Ninety-five employees are expected to be hired.

RICK ERWIN’S AT CLEMSON opened on Tuesday. The new restaurant will have a similar atmosphere to Rick Erwin’s West End Grille in Greenville. This is the fourth restaurant in the Rick Erwin Dining Group.

The Clemson location will be open Monday through Saturday. The bar will open at 4 p.m., the dining room at 5 p.m.

SHERRY JACKSON | STAFF sjackson@communityjournals.com @SJackson_CJ

SQUARE FEET Real estate deals and developments across the region

Future takes shape for Greenville News site Movie theater, retail, restaurants, condos, offices and more slated for four-acre plot downtown A dine-in movie theater will reportedly join retail, restaurants, hotel, high-end condos, apartments and office space on the 4-acre site where the Greenville News building currently sits on Main Street.

Dallas developer Trammell Crow Corporation announced this week it has chosen Greenville-based Centennial American Properties as co-developer for the prime piece of real estate Trammell has under contract.

CAP works with retailers all over the country, but has deep roots in Greenville.

“The site holds a lot of significance for me personally,” said CAP CEO David Glenn, a Greenville native who founded the company in 1976. “I was a Greenville News delivery boy from the time I was 10 years old until I left for college at 18, and both of my grandparents worked at the Camperdown Mill that used to be on this property. There’s a lot of history in this site, and it’s important to us that the new development honor that while continuing the great momentum that’s happening downtown.”

Larry Pantlin, Trammell Crow’s Southeast managing director, said the company is “very excited to be involved in this new development in Greenville and understand that this is an iconic site in the heart of the city that we plan to treat with great care

PROJECT PARTNERS RETAIL LEASING: Jackson Hughes Jr., owner and president of Hughes Commercial Properties OFFICE LEASING: CBRE ARCHITECT: Atlanta-based Wakefield Beasley & Associates

Development Site: Approx.

4 acres

PLANNED FOR THE SITE

© 2014 Microsoft Corporation Pictomety Bird’s Eye © 2012 Pictometry International Corp ©2014 Nokia

and respect for what it is, where it is and what it will be in the future.

We knew that [CAP] would be the perfect partner.”

Until a site plan is locked down, hopefully by the end of this year, no tenants have been signed. But David Glenn’s son Brody Glenn – also a Greenville native who joined CAP in 1999 and currently serves as president – envisions a mix of local, regional and national restaurants and retail stores.

“A ton of interest” has been expressed in the project, and “it will be interesting to see who comes,” he said.

The project will be a live-work-play concept and will “really bring people into downtown Greenville on more of a nightly basis,” he said. “It’ll be more like [Atlanta’s] Atlantic Station but on a smaller scale.”

Glenn anticipates multiple buildings, public plazas and pedestrian walkways and other uses that would fit within the upscale nature of the project. The development will likely reach 10 stories high, he said, but it won’t be a skyscraper, as the developers want to fit in with the downtown Greenville landscape. Parking will be “in a hole underneath the buildings.”

Several regional and national dine-in movie theater chains have expressed interest, Glenn said. Most offer first-run movies, reserved seating, full bars and full dining menus. Ticket prices run about the same as a regular movie theater. The concept has been tried regionally by Studio Movie Grill, which has locations in North Carolina and Georgia, and recently announced plans to

Hotel Underground parking Pedestrian walkways Public plazas 125,000-150,000 square feet of office space 225-250 apartments 15-20 high-end condos 100,000 square feet of retail space that includes a dine-in movie theater

expand nationwide. Another chain, Cinebarre, which is part of Regal Entertainment Group, the nation’s largest theater chain, currently has locations in Charlotte and Charleston.

Construction on the new project is expected to begin in the third quarter of 2015, and will take about two years to complete. There will be no phases, Glenn said, as he expects to do all of the pieces of construction around the same time.

“Downtown Greenville is about as good as it gets,” Glenn said. “We’re excited to add to our downtown.”

PLANNED GIVING FOR PAYING IT FORWARD From the Kroc Center to Greenville Forward, Jean Harris Knight’s legacy gift to the Community Foundation helped establish programs dedicated to improving Greenville’s future.

We make it easy to give back to the place we all love to call home.

October 24, 2014

www.cfgreenville.org

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FINE PRINT Business briefs you can’t miss

SC ranks as a top state for business A survey by Development Counselors International (DCI) listed South Carolina as one of the top five states to do business.

South Carolina received 12.6 percent of the vote and was listed behind Texas, Florida, Georgia and North Carolina. The results are based on 356 responses from corporate executives and location advisors.

According to the DCI report, “The leading

sources of information influencing executive perceptions of a community’s business climate were dialogue with industry peers, articles in newspapers and magazines and business travel.”

The survey found that 47 percent of location advisors said they expect manufacturing/production as the most common type of relocation project.

South Carolina was ranked the third best state for business in the last DCI survey in 2011.

Dixon Hughes Goodman donates $50k to Red Cross

Wal-Mart hiring 95 in Simpsonville

Dixon Hughes Goodman LLP recently gave $50,000 to support the American Red Cross in Upstate South Carolina and Western North Carolina. The gift was made in contribution to the Red Cross’ “Ready 365” campaign.

“The motivation for giving to the Red Cross is the multiplier effect – they can do much more with my money to help those in need than I, or any other ‘helping’ organization, can do with the same dollars,” Dennis Vick, office managing partner for the Greenville office, said in a release.

The funds will help the Red Cross respond to fires and other disasters and will provide smoke alarms and fire safety information. The money will also help the Red Cross recruit and train volunteers.

Wal-Mart will hire up to 95 full- and parttime associates to work at the new Wal-Mart Neighborhood Market set to open this winter in Simpsonville.

The majority of new associates will begin work in December to help prepare the store for its grand opening.

Applications are accepted at the temporary hiring center at 215 N. Main St., Suites D and E, Simpsonville, on Monday-Friday, 8 a.m.-5 p.m., and Oct. 25 and Nov. 15, 8 a.m.-noon. Interested applicants may also apply online at careers. walmart.com.

Through Wal-Mart’s Veterans Welcome Home Commitment, the company will offer a job to any qualified veteran who has been honorably discharged within the past 12 months. Interested veterans may find out more at www.walmart careerswithamission.com.

Wal-Mart provides a benefits program to eligible full- and part-time associates.

Legal Eagle under new leadership Legal Eagle, an Upstate litigation support firm, is under new ownership by Palmetto Legal Copy Group.

The company will continue to offer full-service document management services under the Legal Eagle name. In addition to traditional document processing and production, Legal Eagle now offers eDiscovery and online document review.

“It is my hope the new Legal Eagle will offer more forward-thinking tools to create value for attorneys and paralegals alike,” new Legal Eagle president Adam Shirley said in a release.

Pure Barre launches clothing line Pure Barre, a fitness franchise with corporate headquarters in Spartanburg, has launched its first clothing line in partnership with the women’s activewear label Splits59.

The clothing will be sold exclusively in Pure Barre studios and online at purebarre.com.

The Pure Barre by Splits59 Fall Collection includes seven styles. According to a press release, “The line was created with unique details to ensure comfort and technical femininity taking clients from the barre to the street in a fashionable yet practical way.“ Pure Barre will introduce new collections on a seasonal basis with four primary launches per year.

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UPSTATE BUSINESS JOURNAL

October 24, 2014

Every Game

FINE PRINT Business briefs you can’t miss

Greenville Water honored for management excellence The Association of Metropolitan Water Agencies (AMWA) honored Greenville Water with the Gold Award for Exceptional Utility Performance in ceremonies at its 2014 Executive Management Conference.

“This award is recognition of Greenville Water’s ability to provide quality water to

Watermark Advisors offers M&A class Watermark Advisors, a Greenville investment bank, will present a one-day class for company leaders interested in growing through mergers and acquisitions (M&A). The class will be held on Nov. 6 and again Nov. 12 at the Poinsett Club in Greenville.

In addition to processes of a transaction phase, the class will also cover best practices in how to prepare for M&A and how to integrate an acquisition after the transaction is closed.

The cost is $1,000 per person and includes a Poinsett Club lunch and wine and beer networking at the end of the day.

A detailed program is available at watermarkadvisors.com. For more information and to register, contact Dee Grumbos by Oct. 30 at dgrumbos@watermark advisors.com.

our customers in a sustainable manner while responsibly managing our finances and infrastructure,” said Greenville Water CEO David Bereskin.

A peer review of Greenville Water examined product quality, customer satisfaction, employee development, financial vitality and infrastructure stability. The

peer review cited Greenville Water’s accomplishments, including completion of the first formal Natural Resources Management Plan for two of its watersheds.

Greenville Water also obtained a permitted water resource portfolio from three separate watersheds that can sustain its service area with water for over 56 years.

Central Realty announces $70M Alabama development

Alliance Partners acquires Spartanburg warehouse complex This week, CBRE Greenville announced the recent acquisition of the Viking Warehouse Facility, a 350,000-square-foot warehouse/distribution facility in Spartanburg, by an affiliate of Alliance Partners HSP LLC. Alliance is a private real estate investment company headquartered in Philadelphia. CBRE’s Campbell Lewis represented Alliance.

Comprised of two warehouse buildings on a 28.7-acre site located at 2071 Fryml Drive in Spartanburg County, Viking was formerly home to American Fast Print. In recent years, the property sat mostly vacant.

Alliance plans to invest significant capital to reposition Viking from Class C to Class A condition, according to a statement from CBRE. Renovations will include new lighting, roofing, dock doors, ventilation and paving, as well as adding new access from Fryml Drive. Completion is expected in spring 2015.

Central Realty Holdings CEO Rece Morgan announced that the Greenville-based company will develop a $70 million mixeduse project in Hunstville, Ala. The project, to be called Big Spring Square, will include a 100-unit hotel, 200 residential urban units, 28,000 square feet of shops, restaurants and offices and 60,000 square feet of community space, and will break ground in April 2015.

The names of the stores and hotel were not announced.

Central Realty will lease the six-acre site for 99 years, paying $144,000 per year, according to al.com. The city will demolish the hotel currently on the site, clear the land and do streetside landscaping.

The project is planned to open during the summer of 2016.

CONCEPTUAL RENDERING

Big Spring Square Huntsville, AL 10.13.14

Clems n Every Game October 24, 2014

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CONTRIBUTE: New hires, promotions & award winners may be featured in On the Move. Send information and photos to onthemove@upstatebusinessjournal.com.

ON THE MOVE Play-by-play of Upstate careers

ELECTED HIRED

NAMED HIRED

HIRED

HIRED

HONORED HIRED

Steve Farrar

Maddy Varin

Emily Yepes

Michael Short

Grady Jones

Named president-elect of the Federation of Defense and Corporate Counsel (FDCC) and appointed to the board of directors of the Defense Research Institute (DRI).

As president-elect of FDCC, Farrar will travel as an ambassador for the organization and civil defense attorneys. He is an attorney at Smith Moore Leatherwood.

Joins Community Journals as a marketing representative.

Varin previously worked at the Department of Probation, Parole and Pardon Services as a probation and parole agent. She graduated from Clemson University with a degree in sociology.

Hired as a marketing representative at Community Journals. Yepes spent the first several years of her career working in nonprofit management before switching to sales. She is a graduate of the College of William and Mary and has a master’s degree in biology.

Joins commercial real estate and investment firm CBRE’s Carolinas Project Management team as a project manager.

Based in Greenville, Short will focus on serving clients as an owner’s representative in the South Carolina market.

Named vice president of advancement, marketing, public relations and communications at Presbyterian College.

Jones has 19 years of higher education administration experience, having served as a director of development, vice president and vice chancellor at a number of colleges and universities.

ACADEMICS University of South Carolina Upstate assistant professor Desireé Rowe received a $4,860 grant from the Waterhouse Family Institute of Communication and Society at Villanova University to begin field research on her project, “Performing Gender-Based Activism in Eastern Germany.” Her goal is to engage local gender-based activist organizations in the Berlin region of East Germany.

Rowe received her doctorate from Arizona State University.

Palmetto Health and the University of South Carolina appointed Les Hall as CEO of the Palmetto Health-USC Medical Group and executive dean of the University of South Carolina School of Medicine. As CEO, Hall will oversee and advance the clinical integration of Palmetto Health’s physician practices and the School of Medicine’s clinical departments. As executive dean, he will oversee all academic and research programs.

Furman University hired Mike Wilson as executive director of alumni and parent engagement. Wilson previously held positions at Duke Energy’s corporate office, working in regulatory affairs, planning and marketing. He is

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also a board member of multiple school and community organizations.

The Corporate and Career Development Division at Greenville Technical College named Scotty Nicholson the 2014 Instructor of the Year and Diane Jarecky the 2014 Adjunct Instructor of the Year. Nicholson serves as an instructor for the CNC Machine Operator class and also helps local manufacturers create their workforce by teaching the GE Engineer Edison Apprenticeship program and the Bosch Rexroth Apprenticeship program. Jarecky is an instructor with the Corporate and Career Development Division’s Medical Assistant Program, teaching medical terminology, medical law and ethics, and clinical courses.

APPAREL Loggerhead Apparel hired Jennifer Henderson as general manager. In the newly created position, Henderson will lead day-to-day operations and manage the continued growth of the four-year-old company. She recently served as director of purchasing and inside sales at Southern Tide. She has more than 18 years of apparel industry supply chain expertise.

UPSTATE BUSINESS JOURNAL

October 24, 2014

BUSINESS DEVELOPMENT The Greater Greer Chamber of Commerce hired Nikki Crabtree as the director of membership engagement.

Crabtree recently graduated from the University of South Carolina with a degree in tourism management. While in school, she worked at the Greater Columbia Chamber of Commerce in the events and membership divisions.

DESIGN/ARCHITECTURE Ron Geyer, founder of Good City Architects, was named chair of the Interfaith Forum on Religion Art & Architecture, an organization of architects focused on the design of worship spaces. Geyer is responsible for fundraising and leadership development in 2015.

FINANCE Dixon Hughes Goodman LLP named Dennis Vick as managing partner of the firm’s Tax Compliance and Consulting Practice. He will focus on strategy, quality and growth. Most recently, Vick was the office-managing partner of Dixon Hughes Goodman’s Greenville office. He has more than 30 years of experience in public accounting.

SC Telco Federal Credit Union named Tracey Biggers, Doug Glick, Nicole Martinetti and Donna Smith as branch managers on the credit union’s Upstate management team. Biggers will head the Verdae Branch in Greenville. Biggers has more than a decade of experience in the financial industry. Glick has more than 20 years of experience in the financial services industry including certifications with the Illinois Bankers Association and the American Bankers Association. Martinetti has 17 years of experience serving credit union members, and is a past president of the Liberty Chamber of Commerce and chairman of the Leadership Pickens County Board of Directors. Smith most recently served as a member service specialist in SC Talco’s Spartanburg branch.

FOOD SERVICES Rhino Concessions hired Amanda Gardner as a marketing and operations manager. Gardner graduated from Clemson University in 2014 with a degree in marketing. At Clemson, she was named to the dean’s list four times.

SOCIAL SNAPSHOT Inside the Upstate’s networking and social scene

Photos by Greg Beckner

Kayla Gainer of Accessible Diagnostics won the SCBIO Pitch Contest.

From left are SCBIO executive board members Steve Johnson, Rebecca DeLegge and Thomas Strange; winner Kayla Gainer; and SCBIO president Wyane Roper.​

Photo by Mary Ann Chastain

SCBIO ANNUAL CONFERENCE People attending the two-day SCBIO Annual Conference at the Hyatt Regency in downtown Greenville take the opportunity to meet and mingle during a networking session between panel discussions on the state’s biotech industry.

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PLANNER Events you should have on your calendar

FRIDAY OCTOBER 24 GREENVILLE CHAMBER FRIDAY FORUM

INFORMATION: facebook.com/ cakenwhiskeygville

Free sample session for managers, leaders and human resource personnel from companies and healthcare organizations that are interested in bringing stress reduction training to their employees and staff.

Embassy Suites, 670 Verdae Blvd., Greenville; 8-9:30 a.m.

SPEAKER: Randy Dobbs TOPIC: Transformational Leadership in Your Business, Community and Life

WellSmart Solutions, 220 N. Main St., Suite 500, Greenville; 5:30-7 p.m.

THURSDAY OCTOBER 30

REGISTER AT: wellsmartsolutions.com

UPSTATE TRANSPORTATION SUMMIT

MONDAY OCTOBER 27 10-4 GOOD CITY

SUPPORT OUR LOCAL WOUNDED VETS

COMEDY NIGHT Genevieve’s Lounge at the Peace Center

OpenWorks, 2 N. Main St., Greenville; 6-7:30 p.m.

Potluck dinner and crowdsourcing fundraiser REGISTER: nvite. com/104Good/f94

20 UPSTATE LEADERS ARE TAKING THE STAGE TO TELL THEIR FAVORITE JOKE!

CU-ICAR, AT&T Auditorium, 5 Research Drive, Greenville Upstate Chamber Coalition hosts an insider’s look at the latest developments and initiatives in different areas of transportation.

REGISTER: bit.ly/ upstate-transportation

TUESDAY NOVEMBER 4 ATHENA LEADERSHIP SYMPOSIUM TD Convention Center; 4-6:30 p.m

Benefiting The Military Order Of The Purple Heart

UPSTATE CHAPTER 845

TUESDAY OCTOBER 28 CAKE & WHISKEY

Monday, November 3, 2014

Reception from 6-7 pm • Show begins at 7 pm Tickets: $30 (tax deductible donation) Available online at:

www.peacecenter.org

or at the Peace Center Box Office 30

UPSTATE BUSINESS JOURNAL

October 24, 2014

Gallery 17, 17 W. North St., Greenville; 6:30-8 p.m.

THEME: Advancing Women’s Leadership and Corporate Board Service

MASTER CLASS IN M&A Poinsett Club, 807 E. Washington St., Greenville; 8 a.m.-6:45 p.m.

One-day class for leaders interested in growing their companies through mergers and acquisitions. Repeat program Wednesday Nov. 12.

COST: $1,000 REGISTER AT: watermarkinvestors.com

by Oct. 30 CREW LUNCHEON

Nominations now being accepted for ATHENA Organizational Leadership Awards.

Poinsett Club, 807 E. Washington St., Greenville; 11:30 a.m.-1 p.m.

FOR INFORMATION: bit.ly/athena-symposium

Luncheon and networking opportunity for commercial real estate women’s group.

Networking for businesswomen at all stages.

RSVP: ashley @kilwins.com

THURSDAY NOVEMBER 6

COST: Members $18, non-members $25 MINDFULNESS TRAINING TASTER SESSION

REGISTER AT: crewupstate.org/events

Historic photograph available from the Greenville Historical Society.​

SNAPSHOT

From “Remembering Greenville: Photographs from the Coxe Collection,” by Jeffrey R. Willis

A quick look into the Upstate’s past

Fire rather than the demolition ball was the destroyer of some of Main Street’s older buildings. J.C. Penney was in the block between Washington and Coffee streets. To the left of the burned-out store is the narrow Knigoff Building.

Sol Knigoff was the proprietor of Uncle Sol’s Pawn Shop. In this photograph, the buildings housing both Chandler’s Cafeteria and Kaybee’s have been “modernized” on the street level; the upper floors retain the original features of their old facades.

Photo Provided

A three-story structure occupies the site where J.C. Penney once stood. After the fire, J.C. Penney moved to a new location in a larger building at the corner of East Washington and North Main streets. The facade has changed but the Knigoff building still exists next to where J.C Penney once stood. Next to the Knigoff building, the building that once housed Chandler’s Cafeteria still stands as well.

MARKETING & EVENTS

Photo by Greg Beckner

IN THIS WEEK’S ISSUE OF UBJ? WANT A COPY FOR YOUR LOBBY?

Kate Madden

DIGITAL STRATEGIST PRESIDENT/CEO

ART & PRODUCTION

UBJ PUBLISHER

ART DIRECTOR Whitney Fincannon

Ryan L. Johnston rjohnston@communityjournals.com

OPERATIONS Holly Hardin

EXECUTIVE EDITOR

Kristy Adair, Michael Allen

Susan Clary Simmons ssimmons@communityjournals.com

MANAGING EDITOR

Anita Harley, Jane Rogers

Jerry Salley jsalley@communityjournals.com

HOW TO CONTRIBUTE

SENIOR BUSINESS WRITER

STORY IDEAS:

Jennifer Oladipo

ideas@upstatebusinessjournal.com

STAFF WRITERS

EVENTS:

Sherry Jackson, Benjamin Jeffers, Cindy Landrum, April A. Morris, Joe Toppe

events@upstatebusinessjournal.com

PHOTOGRAPHER Greg Beckner

onthemove@upstatebusinessjournal.com

MARKETING & ADVERTISING SALES REPRESENTATIVES Kristi Jennings, Donna Johnston, Annie Langston, Lindsay Oehman, Pam Putman, Maddy Varin, Emily Yepes

DECEMBER: ENERGY What does S.C. need for the future?

ADVERTISING DESIGN CLIENT SERVICES

Order a reprint today, PDFs available for $25. For more information, contact Anita Harley 864.679.1205 or aharley@communityjournals.com

DIGITAL AND SOCIAL MEDIA TWITTER: Follow us @UpstateBiz FACEBOOK: TheUpstateBusinessJournal LINKEDIN: Upstate Business Journal

NEW HIRES, PROMOTIONS, AND AWARDS: 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.

OCTOBER 31: COMMERCIAL REAL ESTATE QUARTERLY NOVEMBER: PERSONAL FINANCE Saving and investing

Emily Price

Mark B. Johnston mjohnston@communityjournals.com

u UP NEXT

publishers of

DECEMBER: LEADERSHIP Who’s building leaders in the community? What are questions leaders should never ask? What can we learn from the military, football coaches and university presidents?

Got any thoughts? Care to contribute? Let us know at ideas@upstatebusinessjournal.com.

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.

581 Perry Avenue, Greenville, SC 29611 | 864-679-1200 | communityjournals.com UBJ: For subscriptions, call 864-679-1240 | UpstateBusinessJournal.com

October 24, 2014

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