March 15, 2019 Upstate Business Journal by Community Journals

THE

FINANCE ISSUE

MARCH 15, 2019| VOL. 8 ISSUE 7

GROW GEARING UP TO

Fifth Third Bank plans expansion in the Upstate

James Jones

FIFTH THIRD BANK

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TOP-OF-MIND AND IN THE MIX THIS WEEK

| THE RUNDOWN

VOLUME 8, ISSUE 7 Featured this issue: Downtown Simpsonville redevelopment includes Sidewall Pizza........ 6 Fifth Third Bank adds wealth management team in Greenville..........12 Chase Bank to open branches in Greenville, Clemson.......................... 17

WORTH REPEATING “We’re hoping to be at the forefront of a smartly planned economic boom that has invigorated many other Southeastern cities and towns.” Debbie and Stephen Gross, Page 7

“A little over an hour into our meeting, I knew if Fifth Third could get the deal right, this was going to be a great opportunity for us to do great things for the community,” Spartanburg’s Meeting Street Academy students are benefitting from a unique learning model combining academics and character training. Students are getting further life skills through community and business partnerships. Photo by Kavin Bradner.

Charlie Ardnt, Page 14

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WOODFIELD DEVELOPMENT

NEWS |

.408 JACKSON | HOUSING THINGS YOU NEED TO KNOW

REAL ESTATE

Five-story apartments and retail proposed next to Fluor Field n story by ARIEL TURNER | renderings provided by THE HOUSING STUDIO

ated by the DRB at the April 4 public hearing. ORIGIN DEVELOPMENT PARTNERS + WOODFIELD DEVELOPMENT Bordered by Field, Vardry, MORRISON YARD | HOUSING Augusta, and Markley streets, the triangular property is also the site WOODFIELD DEVELOPMENT .408 JACKSON | HOUSING of the Shoeless Joe Jackson Museum. With unanimous support from the museum, Woodfield Investments plans to relocate the building from the northeast corner to the western corner of the property. The museum’s address is 356 Field St., the number referencing Jackson’s career batting average. In keeping with the theme, the SITE LOCATION development’s proposed name is .408 Jackson, paying homage to ALLEN TEMPLE AME CHURCH

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A class A, multifamily, mixeduse development is being proposed for the site of the current “Blue Building” that sits at 24 Vardry St. next to Fluor Field. Woodfield Investments, the Charlotte, North Carolina-based developer of The Greene mixed-use development a block away, has submitted plans to the City of Greenville Design Review Board Urban Panel for a five-story, plus basement, 237-unit apartment building that will include four retail storefronts and a six-story precast parking structure. The application for a certificate of appropriateness will be evalu-

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the late baseball player’s rookie season batting average that still stands as a major league record, says Brian Schick, Woodfield Investments partner. Moving the Shoeless Joe Jackson Museum to the highest corner of the property places it at the main entrance to the development nearest the clubhouse and leasing office and across from the VIP entrance to Fluor Field. Schick says the developer is incurring all expenses for moving the building, replacing the roof and HVAC system, building a plaza around it, and potentially adding an annex of up to 500 square feet. The four storefronts along Field Street could be traditional retail or a restaurant user that doesn’t require a full kitchen, Schick says, giving the example of The Whale taproom and bottle shop planned to open this spring in The Greene that will be serving food that

AERIAL VIEW OF SITE SHEET NAME

doesn’t require a hood or grease trap. Schick says his group has been eyeing this piece of property for almost five years. Now that it is included in an “Opportunity Zone,” the financial investment with the potential of deferring capital gains over the next 10 years made the deal even more attractive, he says. The property will include numerous entry points that activate the street, promoting pedestrian activity, Schick says. If the DRB approves the design of the project, Schick says they plan to close on the two parcels under contract in October and begin demolition shortly after, putting the project on a 22- to 24-month completion schedule. Because the project is relying on Opportunity Zone investment funds, the project must be underway in 2019 to take full advantage of the financial benefits, he says.

B-002

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THINGS YOU NEED TO KNOW

| NEWS

NEWS

Meeting Street Academy Shines Community, business buy-in helps students get a leg-up n story by NEIL COTIAUX | photo by KAVIN BRADNER

It’s not every day that the CEO of a national corporation walks through the doors of Spartanburg’s Meeting Street Academy to see what all the buzz is about. But that’s exactly what happened when Greg Carmichael, CEO of Ohio-based Fifth Third Bank, spent the morning there to learn how a public-private partnership that combines academics with character-building helps kids improve their odds in life. The brainchild of Charleston businessman and philanthropist Ben Navarro, the two-story academy in the heart of downtown is one of four Meeting Street schools in the state getting rave reviews, largely due to student performance on standardized tests that far exceeds the national average. In 2016, the academy, which opened its doors four years earlier, entered into a partnership with Spartanburg School District 7 to enroll children in the Highland, Hampton Heights, and downtown neighborhoods. This semester, 247 students ranging from age 3 through fifth grade, the vast majority of them black, make use of Meeting Street’s mix of curriculum and inspiration. “I hate to put a percentage on it, but in many cases I almost feel like it’s 50-50 academics and character-building in the way that we approach education,” said Claudia

Albergotti, the academy’s community liaison. Teachers, selected by Meeting Street and not the district, also have the autonomy to change curriculum, Albergotti said, with two instructors per classroom in an academic day that stretches from 7:30 a.m. to 3:30 p.m. COMMUNITY AND BUSINESS BUY-IN To maintain momentum, staff members head out to students’ homes at the start of each school year. “We need to understand where this child has grown up, who their people are, what their neighborhood is like, what they’re going home to, and in turn, I think, that opens up a lot of communication between our parents and our teachers…,” Albergotti explained. In addition to family involvement, Meeting Street Academy is supported by individual patrons and community partners that underwrite programs, provide medical services and recreational opportunities, or who volunteer their time. District 7 reduces overhead by providing transportation, food, and maintenance services along with per-pupil funding for households in the attendance zone. Each week, volunteers from Carolina Foothills Federal Credit

Union are onsite to guide students as they work as managers and tellers at a mock bank, counting money and engaging in bookkeeping. For its part, Fifth Third Bank began its relationship with Meeting Street several years ago after a client made its commercial banking staff aware of the innovative work being done there. Charles Arndt heads the bank’s middle-market office in Greenville, and he’s also a soccer coach at Furman University. About three years ago, Arndt f irst brought team members to the school to share their insights on discipline and motivation. The relationship continues with students from one campus visiting the other each year.

When Carmichael dropped by last month, the Fifth Third CEO learned about the school’s philosophy and visited classrooms. “It’s really remarkable what they’re accomplishing over there, and the evidence and the outcomes that they’re getting are just tremendous,” Carmichael said of the afternoon visit. “I think it’s always wonderful to have someone who sits in a completely different state and has communication access to a lot of other markets ... but our hope is also that we can start to have bigger conversations about how this model can be emulated in other places and how it can make a bigger impact, and that’s something that we’re very excited about,” Albergotti said.

FREE PIZZA!

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NEWS |

THINGS YOU NEED TO KNOW

ECONOMIC DEVELOPMENT

Downtown Simpsonville redevelopment to include Sidewall Pizza, coffee shop and more n story by ARIEL TURNER | renderings provided by MCMILLAN PAZDAN SMITH ARCHITECTURE

The historic former Burdette in the main building, are the first multiple users. BURDETTE PLACE Hardware building at the|corner new tenants to execute leases for the Four Oaks Property Group entered mcmillan pazdanof| smith SIMPSONVILLE, SC East Curtis and South East Main the Greenville market about 18 ARCHITECTURE project, but the developers are ac12/20/18 streets, downtown Simpsonville, is tively seeking others. Available spaces months ago with the announcement getting new life as a roughly in the main building include a of Gather GVL, the under-construc27,000-square-foot redeveloped 2,226-square-foot restaurant space tion shipping container outdoor food restaurant and retail hub that will fronting East Curtis Street, a hall in Greenville’s West End planned include Sidewall Pizza and Kaffeine t o “These days, businesses are becoming less and less Coffee Shop and Roastery. Currently partially occupied by five isolated entities, and more and more about tenants, Burdette Central, as it’s been community and neighborhood. We envision renamed by developer and co-owner Burdette Central as a hub…” Four Oaks Property Group, will house five additional restaurants or DOUG CROSS retail users, include an outdoor patio Four Oaks Property Group managing principal and beer garden, and include potential office use in the 9,600-squarefoot second floor. 160-square-foot shipping container open this June. Sidewall Pizza, which will be facing the planned beer garden, and Burdette Central, designed by located in a 1,800-square-foot sep- a 1,520-square-foot storefront on McMillan Pazdan Smith Architecarate building on the property, and Main Street. The 9,600-square-foot ture, should begin construction in Kaffeine, in a 1,167-square-foot space second floor is available for single or 90 days and will include similar el6

UBJ | 3.15.2019

ements of the West End family RENDERING friendly gathering place. “These days, businesses are becoming less and less isolated entities, and more and more about community and neighborhood,” said Doug Cross, Four Oaks Property Group managing principal. “We envision Burdette Central as a hub … for businesses and for people to come together to socialize, enjoy some great coffee, a delicious pizza, and contribute to the buzz and bustle that is beginning to energize Simpsonville.” Cross says downtown Simpsonville reminds him of downtown Travelers Rest about 10 years ago. Since then, Travelers Rest has experienced enormous growth in both residential and commercial markets. No one knows that more than Andy O’Mara, co-owner of Sidewall

THINGS YOU NEED TO KNOW

| NEWS

Burdette Central, designed by McMillan Pazdan Smith Architecture, should begin construction in mcmillan | pazdan | smith 90 days, and will include similar elements to Gather GVL. BURDETTE PLACE

RENDERING

SIMPSONVILLE, SC

ARCHITECTURE

12/20/18

Pizza that opened first in Travelers Rest before popping up in several more locales. Monkey Wrench Smokehouse and Rocket Surgery, both on Main Street in Travelers Rest, are also part of the Sidewall restaurant family. “There’s a lot happening down there,” he says. “We hope this will bring more life downtown like we saw in Travelers Rest.” Sidewall Pizza will take over the former free-standing upholstery shop on the property and add on a 1,000-square-foot, fully enclosed patio as well as turn the area behind the building into a green space, similar to the one behind Monkey Wrench Smokehouse. The turn-in from Main Street to the parking lot between Sidewall and the main building will be closed off, creating designated parking for the development accessed only from East Curtis Street with the option of closing it off to vehicular traffic completely for larger outdoor gatherings and festivals. Kaffeine Coffee Shop and Roastery will occupy a space on the back of the building that opens onto the parking lot. Owners Debbie and Steven Goss submitted this statement about the business: “With a background in culinary and small batch specialty coffee, we

have been blessed with the opportunity to turn our coffee roasting business into a coffee shop with onsite roasting. Carefully sourcing single origins, we roast each batch with precision to provide a wonderfully consistent coffee experience. “Kaffeine Coffee Shop and Roastery wishes to provide a welcoming and relaxed atmosphere where you can enjoy a variety of fresh roasted coffee types and light fares. We contemplated many spaces in the Greenville area, however, being a part of Burdette Central and downtown Simpsonville just seemed a natural choice for us. Simpsonville has always given us this warm, welcoming, homey vibe and we feel this is our chance to give back some of that good feeling.” Cross says he believes this project could be the cornerstone of the redevelopment in Simpsonville. “We’re hoping to be in the forefront of a smartly planned economic boom, the kind of boom that has invigorated many other Southeastern cities and towns,” he said. “This new generation of entrepreneurs is looking to grow strong businesses, but they’re also looking to help build strong, healthy communities that contribute to the greater good. We expect Burdette Central to be a part of that.”

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NEWS |

THINGS YOU NEED TO KNOW

BUSINESS NEWS

Jersey unveiled: Greenville Triumph, ScanSource teaming up n story by BRITTANY MARTIN | photos provided by GREENVILLE TRIUMPH SC

The Greenville Triumph Soccer Club and ScanSource recently announced a partnership naming the Greenville-based technology company as the club’s inaugural match day kit sponsor. The club also unveiled their

“ScanSource is very excited about our partnership with the Greenville Triumph. We’re confident our partnership will have an impact that reaches well beyond the soccer field.” MIKE BAUR ScanSource CEO

inaug ural uniforms, which feature a green and blue primary kit and a white secondary kit with green and blue stripes across the chest. The par tnership was announced by Triumph Chairman Joe Er w in and ScanSource Chairman and CEO Mike Baur at the company’s Greenville headquarters during a live global employee meeting. “ScanSource’s grow th and commitment to the communities in which they have offices, including their headquarters in Greenville, provides a great model of success that we hope to mirror as we build the foundation of our club,” said Triumph Vice Chairman and Chief Brand Officer Doug Erwin.

The club opens their home season April 6th against the Lansing Ignite at Legacy Early College. Single game tickets will go on sale in mid-March.

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3/8/19 1:47 PM

ARIEL TURNER

aturner@communityjournals.com |

MA R CH

@arielhturner

S ES S ION

Design Review Board The McClaren & Merrill Gardens The second consecutive City of Greenville Design Review Board Urban Panel public hearing to attract public attention and comment ran slightly more than two hours on March 7, an hour shorter than February’s meeting during which the proposed renovations to the Wyche Pavilion were discussed. The majority of the March meeting was spent evaluating the

proposals for two neighboring projects in the West End – the nine-story mixed-use development at Rhett and Wardlaw streets called The McClaren, and the Merrill Gardens senior living development at Academy and Wardlaw streets. Both garnered conflicting opinions from the five panelists, but both received approval with conditions for the certificates of appropriateness submitted.

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The McClaren 244-apartment and retail development proposed at the site of the former Ballentine Equipment warehouse and three adjoining properties extending to Academy Street The 244-apartment and retail development proposed at the site of the former Ballentine Equipment warehouse and three adjoining properties extending to Academy Street was previously presented to the DRB in January for informal advice and comment. Because the project’s scope involves demolition of the Ballentine ware-

house and moving the former McClaren Medical Shelter building approximately 70 feet, the developer and architect have submitted multiple applications for certificates of appropriateness pertaining to each particular aspect. On the official docket March 7 was the demolition of the Ballentine warehouse to allow for the planned public

SHLTR [architects]

3.15.2019 | upstatebusinessjournal.com

ARIEL TURNER | STAFF

MANUFACTURING

aturner@communityjournals.com |

plaza and informal review requesting

RETAIL & HOSPITALITYadvice on the proposed plans to relo-

Historical photo courtesy of Greenville County Historical Society & Photographs from the Coxe Collection.

Historical photo courtesy of Greenville County Historical Society & Photographs from the Coxe Collection. Historical photo courtesy of Greenville County Historical Society & Photographs from the Coxe Collection.

cate the McClaren Medical Shelter structure closer to Academy as well as the overall site plan. The warehouse demolition, for which city planning staff recommended a denial, received board approval in a four to one vote, with panelist Robert Benedict, dissenting based on the building’s location in the designated Warehouse District (2008 Downtown Greenville Master Plan) and inclusion in the Central Business District Reviewable Structures list. Neither staff nor the applicant provided information on the building’s historic nature, though it was approximated

@arielhturner

to have been built in the late 1940’s. The plan to preserve the McClaren Medical Shelter building and move it to a prominent corner on Academy Street is the result of “half a dozen” design workshops with local residents since January, said Scott Johnston of Johnston Design Group, architect on the project. The panel was generally in favor of the proposed plan, with the recommendation that consideration be given to adding more distance between it and the new nine-story structure. Johnston requested that the panel grant approval of the relocation only after the full site development permit has been issued.

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“It’s about the least interesting building around as far as what’s facing the street. . . I don’t think we’re doing much of a service to the area by keeping it. I would not miss it if it were gone.”

DANIELLE FONTAINE

PANELIST, WHO LIVES A BLOCK AWAY

“

“That particular plan urged that this area, this particular district, retain its industrial warehouse character, which goes with whether this building should be demolished or not. . . I’ve certainly seen worse buildings rehabilitated back to its original.”

ROBERT BENEDICT PANELIST

RELOCATION PLANS FOR MCCLAREN MEDICAL SHELTER AND OVERALL SITE PLAN:

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“We feel it’s important to make it a gateway. Relocating the building enhances that.”

SCOTT JOHNSON PANELIST

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“Our client is very interested in providing meaningful public space.”

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THINGS YOU NEED TO KNOW

| NEWS

Rendering by Urbal Architecture

Merrill Gardens Five-story, 138-unit senior living development by Merrill Gardens on the triangular-shaped property bordered by Academy, Wardlaw, and Payne streets

PUBLIC COMMENT:

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“We are your active neighbors, and we’d like to have you to come to our meetings and share your information.”

IAN THOMAS

OF THE WEST END NEIGHBORHOOD ASSOCIATION

Up next for approval was the design of a five-story, 138-unit senior living development by Merrill Gardens on the triangular-shaped property bordered by Academy, Wardlaw, and Payne streets. Because of the challenging shape of the property, the building will sit closely to the Academy Street sidewalk with a pedestrian entrance fronting Academy. The parking, as planned at the corner of Academy and Wardlaw streets, will be visible from Academy. Applicant Chad Lorentz of Urbal Architecture, said the goal is to provide the senior residents as much walkable access to the Kroc Center, Fluor Field, and Main Street as possible. The plan also includes engaging a local artist to do art along Academy Street side of the building. During the public portion of the hearing, four nearby residents spoke during the time allotted to voice opinions in opposition, though the concerns raised weren’t necessarily in opposition to the project in totality, but rather individual aspects. The panel unanimously voted to approve the application for the certificate of appropriateness, with the conditions that the applicant resolve a conflict with a neighboring townhome developer regarding Payne Street right of way and that a barrier be used to at least partially conceal the parking lot.

“

“If the applicant’s plan is approved as submitted, there will then be two conflicting designs.”

SPENCER ELLIOTT

DEVELOPER OF WESTGATE ON WARDLAW TOWNHOMES, ON THE RIGHT OF WAY ACCESS DISPUTE ON PAYNE STREET

PANEL DISCUSSION:

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“Safely walking along Academy — I’m not sure that is gonna happen in this world.”

WILLIAM CRAWFORD PANELIST

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“Work closely with your neighborhood association. We like to be good neighbors, so engaging with them as much as you can, would be, I think, the right thing to do.”

CARMELLA CIOFFI PANEL CHAIRWOMAN

3.15.2019 | upstatebusinessjournal.com

RESUMES EXPANSION IN THE UPSTATE CEO Greg Carmichael visits the area to thank his commercial team and introduce a new wealth management group while pondering branches STORY BY NEIL COTIAUX

“WE MADE A THRUST IN THE SOUTHEAST STARTING IN 2000 … AND WE HADN’T BEEN ABLE TO EXPAND OUR DISTRIBUTION COMING OUT OF THE FINANCIAL CRISIS UNTIL JUST RECENTLY.”

GREG CARMICHAEL CEO OF FIFTH THIRD BANK

UBJ | 3.15.2019

In Greenville, Fifth Third Bank is an island in a Southeastern sea of banks. The Ohio-based bank, which operates branches in 10 states in the Midwest and Southeast, never entered South Carolina when it engaged in multiple acquisitions in the earlyto mid-2000s and built no branches here. Then the recession hit and all bets were off. But now, Fifth Third Bank (taken from the name of its two predecessor companies) is back in the game, slashing retail branches in older markets up north and redeploying resources to the sunny South. In that context, the little-noticed middle-market banking office that Fifth Third opened in 2012 at 31 S. Main St. is a pioneer. On a January conference call to discuss the $146 billion bank’s fourth-quarter earnings, chairman, president, and CEO Greg Carmichael gave a shout-out to the Greenville office for its exceptional performance as a stand-alone commercial banking unit. Prior to creating new middle-market offices out West, “we also expanded into Greenville, South Carolina, which is out-of-footprint…,” Carmichael told analysts. “In addition to that, we have a St. Louis middle-market operation. Both of those have done extremely well. … The cornerstone of that is finding the right talent that knows the market,” the CEO said. Carmichael recently came to Greenville to personally thank his commercial team for their performance while finalizing plans for a new wealth management group that will operate under the same roof.

In an interview during his visit, Carmichael called wealth management “the next logical piece” in commercial banking relationships, with services such as lending, equipment financing, treasury management, and capital markets opening the door to discussion of services like diversified investments, tax strategies, and retirement and estate planning for business owners and other high-net-worth clients. Effective immediately, wealth management team members James Jones, Todd Ripley, Gency Kirk, and Richard Crumpler will work alongside the existing six-person commercial team serving the Upstate, said Lee Fite, regional president for Fifth Third Bank-Carolinas. “It’s about being a holistic relationship and being their bank,” added Charles Arndt, the regional market executive leading the middle-market group.

Retail in limbo

While Fifth Third currently operates 51 branches in North Carolina and 33 in Georgia, including in Charlotte and Atlanta, it’s had no retail footprint in the Palmetto State. That could change as early as 2020. “We made a thrust in the Southeast starting in 2000 … and we hadn’t been able to expand our distribution coming out of the financial crisis until just recently,” Carmichael said of plans to expand the bank’s retail presence down south. “We’ve already leaned back our legacy markets by about 150 branches. We’re going to probably lean back another 100-120 branches,” he said,

THE PLAN

GREG CARMICHAEL EXPLAINS WHAT’S TO COME WITH FIFTH THIRD BANK

2 3

“We’ve already leaned back our legacy markets by about 150 branches. We’re going to probably lean back another 100-120 branches, and we’ll reposition those branches into our southeast markets where we already have a presence.” “But, the density of those banking centers can be less, given the fact that people aren’t visiting as frequently as they used to, and the basic transactions they can do online.” “And those branches will be smallerfootprint, they’ll be smaller staffing models, they’ll be high self-serve, open 7 by 24. So, more efficient banking centers, but accessible to our customers.”

Carmichael stopped short of saying whether any of the new branches would open in the Upstate. “We’re still in evaluation,” he said.

“and we’ll reposition those branches into our Southeast markets where we already have a presence. “But, the density of those banking centers can be less, given the fact that people aren’t visiting as frequently as they used to, and the basic transactions they can do online,” he continued. “And those branches will be smaller-footprint, they’ll be smaller staffing models, they’ll be high self-serve, open 7 by 24,” he explained. Carmichael stopped short of saying whether any of the new branches would open in the Upstate. “We’re still in evaluation,” he said.

“

Lower-hanging commercial fruit?

Andrew Boord, a portfolio manager and analyst at Fenimore Asset Management in Memphis, Tennessee, sees the recently announced megamerger between BB&T and SunTrust Bank as an opportunity for competitors to pick off both business and talent. “The big mergers are wonderful for smaller competitors because so many crumbs fall off the table,” he said. “Sometimes larger banks just don’t want to work with smaller clients. They instead focus on more midsized and larger businesses,” Boord said. If the merged bank raises its minimum loan size or if service issues arise, some business clients may want to switch banks, he noted. Fifth Third has “a really good shot” at cherry-picking such customers, Boord said. As for retail, BB&T and SunTrust will need to pare numerous branches in markets with overlap, but that may not prompt Fifth Third to open a signif icant number of branches in the Upstate. Kevin Baker, a senior research analyst at Piper Jaffray, believes less is more when it comes to branches. “The future of banking is not a big branch network,” he said. During his February interview, Carmichael suggested that he may rule out another merger in the Southeast in favor of concentrating on select existing markets where retail, commercial banking, and wealth management services can help grow Fifth Third’s earnings in tandem. “You look at this market here and you look back over taime; it’s really held up well during difficult recession-era times, and because of diversity in this market and the attractive nature of this market, and we just need population and commercial growth in this market,” he said. “Everybody wants to be bigger in Greenville,” Boord said. “It’s a great market.”

EVERYBODY WANTS TO BE BIGGER IN GREENVILLE. IT’S A GREAT MARKET. ANDREW BOORD

A PORTFOLIO MANAGER AND ANALYST AT FENIMORE ASSET MANAGEMENT IN MEMPHIS

WEALTH MANAGEMENT COMING TO GREENVILLE

“The next logical piece” in commercial banking relationships - Greg Carmichael, CEO LENDING

EQUIPMENT FINANCING

TREASURY MANAGEMENT

CAPITAL MARKETS

DIVERSIFIED INVESTMENTS 3.15.2019 | upstatebusinessjournal.com

CAPTAINING TEAM SYNERGY Meet the two veteran bankers generating Fifth Third’s offense in South Carolina story by STEPHANIE TROTTER photo by WILL CROOKS

James Jones, wealth management

UBJ | 3.15.2019

“A little over an hour into our meeting, I knew if Fifth Third could get the deal right, this was going to be a great opportunity for us to do great things for the community,” recalls Arndt. It took just a few months for Jones, and his team, to make the transition from Wells Fargo. Now the two seasoned leaders are writing a playbook to “build a better bank.” A key starter to their strategy

“

an opportunity to do something quite different than what is being done by bigger banks, or community banks.” While overall economic growth, bifurcations and mergers in the market, may provide openings for big wins, this Fifth Third team is looking beyond a final score. “We’ve never set goals in terms of size or significance,” explains Arndt. “We always look at this as a long-term project. “We’ve devised

“

Two months into quarterbacking Fifth Third’s new wealth management group, James Jones is hitting his stride. “I’ve always come into existing private banks, and in some of that I was building books and building businesses, but not the structure itself,” the S.V.P. Wealth Management Advisor shares. “So, this is something that not having wealth management in South Carolina prior to now, it was a very unique opportunity.” Charlie Arndt serves as Jones’ co-captain at Fifth Third, having established the bank’s Palmetto presence de novo, with its commercial banking group over the past seven years. “We were patient,” the S.V.P. Commercial Banking Manager explains. “We always knew a wealth management team coupled with a very successful commercial team would do exceptionally well. We’ve been looking to that since day one. We wanted to find someone who shared our same goals, characteristics, ethical business practices and ideals.” Arndt, a Maryland native, has worked in Greenville since 1994. Jones is a home-grown boy, having attended Eastside High, who returned to local banking in 2002, after thirteen years in Charlotte. Both admit surprise, and joke that other than Jones almost running over Arndt in a nearby parking garage, they never met until last fall.

Charlie Ardnt, commerical banking

So we can grow, create more opportunities, generate more wealth for our clients, and preserve that wealth.

CHARLIE ARNDT

is the synergy between the two entities. “Most banks try to find a way to have their wealth management team partner with the commercial groups, but aren’t successful,” Jones reveals. “I recognized a really unique opportunity here. It’s a great fit, a great match and we can work very well together.” Arndt elaborates, saying, “There are no superstars on his side of the fence, and there are no superstars on mine. It’s a collective team effort. Because of our relationship, and our desire to see what the bank could be, we see this as

a plan and a shared passion. We want to take our unique skills and collective teams, and put them into the state of South Carolina so we can grow, create more opportunities, generate more wealth for our clients, and preserve that wealth.” Jones says the size of the local operation, allows for strategic agility – the ability to react quickly and positively for their clients. “We have a nimbleness and agility to be very responsive to our clients with what they need,” Jones shares. “We have a client who is coming

on board right now. We were able to have a decision made around a credit opportunity within a couple of days, as opposed to a couple of weeks, and the answer was positive, as opposed to negative!” Arndt adds, “We have a big balance sheet where we can play in a lot of different areas, but we have a very short chain of command. This is a people business and decisions need to be made by people. There’s a trust. And the trust doesn’t just exist between the clients and bankers, but people who are in the field, versus those who are executive managers in administration. They hired us for a reason.” No doubt, longevity, established networking and a commitment to Greenville were stand-out stats in recruiting Arndt and Jones. The Fifth Third rookie understands the game, saying, “If you have a commitment to the community and want to see what’s best for the people there, you do what’s best for them and you’re able to create relationships. In our business, it’s all based on trust and building trust.” His competitive partner closes, saying, “Energy and inertia are going to create a tailwind for us to do business, whether the economy is weak or strong. We want to look back 10, 15, 20 years down the road and say, ‘Wow, we were pioneers within Fifth Third to open up a brand-new market and show how this could be done.’” Game on.

presents

From the event at The Commerce Club on February 27 Photos by Jack Robert Photography NEXT EVENT

MARCH 27

5:30 - 7:00 PM

EL THRIFTY

25 DELANO DRIVE, GREENVILLE, SC

3.15.2019 | upstatebusinessjournal.com

SPONSORED CONTENT

Time To Get Serious About Your Company’s Data? Remember Hurricane Florence? A few months ago, the Carolina Coast was hit by a

There are services that will perform automated email backups for all your employees. You should also consider who has access to your email administrative credentials, and you should test the functionality of your backups periodically, also.

damaging hurricane causing billions of dollars of damage and taking several lives. This time, the Upstate of South Carolina got lucky. If you are a business owner in this area, you should know that data loss occurs every day - not just during a natural disaster.

Cyber Security and Backups It should not surprise anyone that email is a favorite target for cyber criminals. If the security of your email system is compromised, your business email could immediately be hijacked (meaning your entire mailbox, including email, contacts, calendar, etc., can be stolen), or encrypted and held for ransom. Cyber criminals can have your incoming and outgoing messages copied to them, etc.

Hurricanes, earthquakes, and fires get a lot of attention. But, as damaging as these natural disasters are, they are not the most common, nor the most dangerous, causes of data loss. So, what is this secret cause of data loss that’s bigger than a hurricane?

To reduce the risk your business faces from these unforeseen disasters, you MUST have data protection in place, including email backup, archiving, and recovery.

If you have users with data stored on their computer hard drives, that data also needs to be backed up. Often, laptops are accidentally damaged, lost, or stolen. If your employees have sensitive or confidential data stored on laptops, those should be encrypted so the data cannot be retrieved by the bad guys.

Statistics show that nearly two-thirds of all data loss is caused by human error. Some of the top reasons include:

It is now 2019! As a business owner, your company’s data security and integrity should be top-of-mind items for you.

●• Human Error - accidental deletion of data or other errors

Most of these things sound like common sense. And, to a large degree, they are. However, there has never been a better time to use some common sense and protect yourself and your company.

SURPRISE! The Number One Cause of Data Loss is – Your Own Employees!

DEREK DAVIS

Principal | Managing Partner

●• Exiting the Firm - taking knowledge or access to data with them ●• Malicious Intent - purposefully deleting or damaging data ●• Non-Compliance - Not following proper data access/storage procedures Email Backups – The Cloud Isn’t Enough! It is a fair statement that most businesses would not survive with a prolonged email outage. In many situations, email is the primary means of collaboration between customers, vendors, partners, and employees. Perhaps your email is “in the cloud” – hosted at a provider’s data center. Microsoft, Google, and others provide this service, but you should know they are not liable for email loss or corruption… and they will NOT help you retrieve lost emails.

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FROM YOUR COMMUNITY

| OPINION

Today’s Young Professionals are Tomorrow’s Leaders By JESSICA MISERENDINO AND MADISON SKINNER

As the Upstate continues its rapid growth, investing in our young professionals is vital. They are the holders of our future, the ones who will be decision-makers and community leaders, and we must prepare them for the challenges they will encounter on their path to make the Upstate economically successful and rich in community vibrancy.

More and more professionals entering the workplace are expecting professional development opportunities, training, and even educational support. To better recruit and, more importantly, retain millennials and increasingly Generation Z employees, companies must think of creative ways to incorporate professional development. Fortunately, because of the demand, we are seeing an increase in these types of programs here in the Upstate. For example, formal leadership-training programs help prepare employees for increased responsibility and management opportunities within an organization. As aspiring leaders have the opportunity to collaborate with each other – as well as learn from and interact regularly with executives – companies begin to foster a culture of growth and development, giving young professionals the opportunity to step outside their comfort zones and acquire firsthand knowledge and experience. Companies may also invest in future leaders through mentorship programs and formal leadership-coaching pro-

grams. Through a company’s human resources or organizational development teams, mentors and mentees can be paired based on career aspirations or development focus areas. Alongside internal initiatives, organizations throughout the region can foster collaboration across county lines by supporting their employees’ participation in networking and development programs. Organizations like Ten at the Top aim to facilitate these collaborative opportunities through events that bring young professionals and Upstate leaders together in a fun, informal environment. Events like Ten at the Top’s fourth annual PIQUE young professional conference, to be held on March 25 at the Greenville One Center, offer workshops, networking sessions, and a variety of panels designed to address a wide variety of young professionals, whether they are just embarking on their professional journeys or have established seasoned careers. Upstate companies and organizations are investing in the future of our region by uniting young talent with today’s business and community leaders. Through these conversations, we create a healthy dialogue centered on how we can continue to make the Upstate a great place to live and work. Partnerships and bonds will be formed that will encourage collaboration and cooperation across all 10 Upstate counties. It’s the investment in people – no matter the age or generation – that will lead to growth for the Upstate. Jessica Miserendino is import manager at Duncan-based AFL and serves on the board of directors for Ten at the Top. For more details about the PIQUE event, visit https://tenatthetop.org/ the-pique/. Madison Skinner is director of human resources at Greenville-based ScanSource Inc. and will serve as a panelist at this year’s PIQUE conference.

BREAKFAST WITH COACH

DABO SWINNEY RI L 2 TUESDAY, AP CY HYATT REGE N GRE E NVILLE DOWNTOWN AM 7:0 0A M –9:0 0 sponso rsh ip tickets and

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3.15.2019 | upstatebusinessjournal.com

OPINION |

FROM YOUR COMMUNITY

The future of work By LAURA HAIGHT president, portfoliosc.com

Last week, 60 Minutes aired a segment on the gender gap in the tech industry and talked about ways that technology companies are trying to get more girls to learn to code. Breaking the glass ceiling in the technology industry is important - for both women and girls and the industry itself. But in the future world of work, coding is not an end goal; it’s a jumping off point. Programming, at its most basic, is a solitary act. A programmer is given an objective goal to accomplish, often is not sure how their piece integrates with others, and often work in environments that are far less collaborative than Hollywood would have us believe. Of course, there are exceptions.

And in a future that may be as little as 10 to 20 years away - those exceptions will need to become the norm. Coders will need a much more expansive skill set and operational principles to succeed. You can learn the most sought after programming languages today, but if you are a geek, you know that the languages computers in the near-future speak may bear little or no semblance to their ancestral counterparts. Self-healing software has been “a thing” for two decades or more. While progress has been made, particularly in areas like network failure and cybersecurity, the full Monty has remained the province of science fiction. That may be changing. Artificial intelligence is creating systems with an unimagined future where we won’t need the army of coders currently required to search millions of lines of code looking for errors. AI-

ARE CODERS THE COAL MINERS OF THE 21ST CENTURY?

driven software will likely repair itself, identify attacks, and create defenses - similar to the neural networks in the human brain. While systems do that on their own, what we will need are nextgeneration, technology-literate thinkers, leaders and ethicists. In a study of skills shift that could occur by 2030, the McKinsey Global Institute estimates that the need for programmers and coders will rise by 55 percent. But the “soft skills” coders do not focus on – cognitive skills, creativity, critical analysis, problem solving, and a culture of continuous learning – will become significantly more important. AI systems, networks, and computers will take over more of the mundane tasks that occupy programmers, coders, and systems analysts daily. Where does that leave us? In McKinsey’s view, “The hardest activities to automate with

currently available technologies are those that involve managing and developing people (9 percent automation potential) or that apply expertise to decision making, planning, or creative work (18 percent).” Technology will take over the tasks, but someone still has to set the goals. For a vast number of coders and technologists understanding how their applications or systems are used is not a big priority. I’m not trying to insult geeks and coders. That’s just the way we’ve rolled for decades. But it won’t be what the future will demand. Girls should code. Programming should be something we teach in K-12 right alongside algebra, biology, and English. But like those subjects, programming is just a foundational building block of a 21st Century education.

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PRESENTING SPONSOR

3.15.2019 | upstatebusinessjournal.com

OPINION |

FROM YOUR COMMUNITY

Planning your charitable giving for 2019 By ROB DeHOLLANDER managing principal, DeHollander & Janse Financial Group

The new year is well underway and it’s time to evaluate what worked well for you financially in 2018 and whether you need to make any changes for 2019. As you do that, you’ll want to put together a plan for this year’s charitable giving. A good place to start the process is to consider the following: 1. Review your donations for 2018 and how you made them. How much would you like to donate in 2019? 2. Did you exceed the standard deduction and itemize your taxes for the 2018 tax year? Do you anticipate exceeding the standard deduction and itemizing your taxes for 2019? 3. A re you age 70½ or older? Do you have an IRA or inherited IRA?

CHARITABLE GIVING STRATEGIES TO CONSIDER

Next, you’ll want to decide on a strategy for this year’s giving. Below are several strategies to mull over.

The Tax Cuts and Jobs Act of 2017 brought us a higher standard deduction. Unless you have enough deductions to itemize above the standard deduction threshold, you may not be able to deduct your charitable contributions. Therefore, in combination with other deductions, you might want to consider grouping multiple years of charitable contributions together into a single year to generate a deduction larger than the standard amount.

2019 STANDARD DEDUCTIONS

GROUP YOUR CHARITABLE CONTRIBUTIONS TOGETHER.

CONTRIBUTE TO A DONOR-ADVISED FUND (DAF).

If you are interested in grouping charitable deductions together but would prefer spreading the distributions to charities out over a period of years, a DAF may be an option for you. It is a charitable giving vehicle that allows you to contribute as frequently as you desire and to recommend grants to your favorite charities from your fund. It can also be used to create a

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UBJ | 3.15.2019

FROM YOUR COMMUNITY

DONATE APPRECIATED ASSETS DIRECTLY TO CHARITIES.

If you have stock or another asset that has increased in value over the years, you can gift the appreciated asset directly to a charity. Gifting appreciated assets directly may avoid the inconvenience of selling the assets, as well as the realization of a taxable gain. In addition, the gifted assets may qualify for a charitable deduction if you exceed the standard deduction threshold and itemize your taxes. Charitable deductions are limited to 30 percent of AGI for long-term appreciated assets (e.g., stock) gifted to a public charity.

CONSIDER A QUALIFIED CHARITABLE DISTRIBUTION (QCD).

If you are 70½ or older and have an IRA or inherited IRA, you may contribute up to $100,000 from your IRA directly to a 501(c) (3) qualified charity without having to include that distribution as income. The QCD can go to a single charity or to a variety of charities. You can make multiple QCDs if the total of all your distributions stays within the $100,000 annual limit. In addition, the distribution may be counted as your annual IRA required minimum distribution. Also, it doesn’t matter whether or not you itemize deductions for taxes because a QCD is not eligible as a charitable deduction. These are just a few of the strategies that may be available to you. As always, before making any decisions, a best practice is to consult your financial advisor and a tax professional. Although we go to great lengths to be sure our information is accurate and useful, it does not constitute either tax or legal advice. Robert DeHollander, CFP® is a

Managing Partner and Co-Founder

of the DeHollander & Janse Financial

“

In combination with other deductions, you might want to consider grouping multiple years of charitable contributions together into a single year to

“

pool of money that will encourage giving by your family for generations to come. A DAF is established through a public charity, so you can receive an immediate charitable tax deduction when you exceed the standard deduction threshold and itemize taxes. With the 2017 tax law, charitable deductions are limited to 60 percent of adjusted gross income (AGI) for cash gifts to the DAF or 30 percent of AGI for long-term appreciated assets (e.g., stock) to the DAF. Please note: You can also avoid capital gain taxes on gifts of appreciated assets to the DAF.

| OPINION

generate a deduction larger than the

standard amount.

3.15.2019 | upstatebusinessjournal.com

ON THE MOVE |

NEW HIRES IN THE UPSTATE

APPOINTED

PROMOTED

HIRED

BRENDA J. THAMES

JOHN JARACZEWSKI

TAMELA SPANN

JIVAN DAVÉ

ALLY POWELL

was appointed to the Hollingsworth Funds board of directors. Thames will add perspective on collaborative efforts aimed at increasing economic mobility. She is the executive vice president and provost of Prisma HealthUpstate Health Sciences Center.

was appointed executive director of Greenville Literacy Association. Jaraczewski comes to Greenville Literacy Association having served as Assistant Chancellor, University Placement, at the University of Wisconsin-Parkside. While at the university, he helped develop the Guttormsen Family Literacy Lab.

was promoted to vice president of strategic initiatives at Hollingsworth Funds. Spann will support the organization’s strategy development, relationship building with community partners, and grant portfolio management. She has served with Hollingsworth Funds since 2015.

has been promoted to associate creative director of FerebeeLane. Davé started at FerebeeLane in 2012 as a graphic designer. Davé’s new role includes leading creative on brand campaigns and articulating strategy to a range of regional and international clients.

has joined South State Bank’s private banking team. In her role, Powell will build relationships and serve clients across the Upstate. She has worked in sales and journalism, most recently as a reporter and anchor for WYFF News 4.

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UBJ | 3.15.2019

| ROUND UP

BRIEFS, TIDBITS, BLIPS, DATA & MORE

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EXECUTIVE VICE PRESIDENT

LET US KNOW AT

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Claire Billingsley

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STAFF WRITERS

Melody Cuenca, Ariel Gilreath, Cindy Landrum, Ariel Turner

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PROUD TO BE THE UPSTATE’S AWARD-WINNING TECHNICAL STAFFING FIRM

MARKETING & ADVERTISING DIRECTOR OF SALES Emily Yepes

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

MARKETING REPRESENTATIVES

Heather Propp, Meredith Rice, Liz Tew

CLIENT SERVICES

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

Anita Harley | Rosie Peck

jackson Marketing Group’s 25 Years 1988 Jackson Dawson opens in Greenville at Downtown Airport

1988

1997 Jackson Dawson launches motorsports Division 1993

1990 Jackson Dawson acquires therapon marketing Group and moves to Piedmont office Center on Villa.

ART & PRODUCTION VISUAL DIRECTOR Will Crooks

Chairman larry Jackson, Jackson marketing Group. Photos by Greg Beckner / Staff

Jackson Marketing Group celebrates 25 years 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

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

AS SEEN IN

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

Stephanie Orr

Kimberly Collier

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

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onthemove@upstatebusinessjournal. com UBJ welcomes expert commentary from business leaders on timely news topics related to their specialties. Guest columns run 500 words. Contact the editor at editor@communityjournals.com to submit an article for consideration. Circulation Audit by

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TAILOR-MADE PARTNERSHIPS

“

United Community Bank has been the right partner to help us fulfill our business purpose and our goals. - Tom Merritt, OOBE

“

We strive to love and serve all our communities and United Community Bank has been the right partner to help us do just that. - Mike Pereyo, OOBE