2022 Accelerate Impact Report

Greenville’s private sector fueled economic development initiative

A LETTER FROM ACCELERATE

At the end of 2022, 175 business and community leaders actively supported Accelerate through direct investment, a 50% increase over five years. Investment dollars are up 15% during the same time period. In addition, total funds raised through the Greenville Chamber Foundation in support of Accelerate are an increasing share of the resources available as we work to grow a Greater Greenville.

Our region’s leaders, companies and foundations are committed to the goal of increasing Greenville’s Per Capita Personal Income to the national average through the four strategic pillars:

1) Increasing Educational Attainment for Working-Age Adults

2) Driving Entrepreneurial Ecosystem Growth

3) Delivering 21st Century Talent and Workforce

4) Informing and Influencing Decisions with Data

The past year was pivotal for Accelerate. Both arms of the Entrepreneurial Ecosystem Growth pillar saw new leadership: Eric Weissmann completed his first full year as the NEXT Upstate Executive Director and Natasha Pitts joined the Greenville Chamber team as the Vice President of Diversity and Economic Inclusion where she leads the SC Minority Business Accelerator. Also, Dr. Cheryl Garrison assumed, in addition to other duties, the role of Executive

Director of the Greenville Chamber Foundation as we seek additional funding opportunities for this important work.

A Career Navigator has been hired and will soon begin to execute the Educational Attainment strategy that was developed in 2022. We look forward to sharing more exciting updates with Accelerate Shareholders soon.

In this report, you will see the community return on investment in each of Accelerate’s strategic pillars. In addition, this report features comments from a variety of business leaders providing their time and talent to Accelerate-related initiatives. We encourage you to become personally involved in these activities. As co-chairs, we have found our time engaged to be quite beneficial both personally and professionally.

Come join us in 2023 as we continue growing a Greater Greenville!

Accelerate Co-Chairs

Erwin Carter, Newbold Services

Mike Sarvis, First National Bank

2022 Accelerate event feat. Richmond Federal Reserve Bank President Tom Barkin Carlos Phillips, Sam Erwin, Tom Barkin, Mike Sarvis, Erwin Carter

2022 INVESTMENT OVERVIEW

$890,526 TOTAL FUNDS RAISED

WHY DO WE DO WHAT WE DO?

75%

25% Foundation Greenville Chamber

2021 Greenville County Per Capita Personal Income: $55,442

Current Percentage of U.S. Per Capita Personal Income: 86%

Increased Economic Activity in Greenville at 100% of U.S. PCPI: $4.64B

Additional Annual New Greenville County Net Tax Revenue: $100MM

WHAT CAN WE ACCOMPLISH WITH AN ADDITIONAL $100 MILLION EACH YEAR?

THE GOAL

By 2030, 60% of working-age adults will have a high-quality post-secondary credential, certificate or degree that is tied to employment and economic mobility.

“Power:Ed, a philanthropy of SC Student Loan Corporation, is proud to support the Greenville Chamber Foundation and its vital work to dramatically increase local education attainment levels and prepare a pipeline of skilled talent for SC employers. We funded the Career Navigator because we are excited by the potentially transformative impact of this pilot program.”

- Claire A. Gibbons, Power:Ed

The Career Navigator works to close equity gaps through a “sorting in” approach for education beyond high school. The Navigator tracks and supports adults in the process of returning to school or completing a degree or credential, providing help, support, and access to resources needed to balance the demands of education, work, and family.

Greenville County will need 37,000 more high-quality credentials, certificates or degrees - 4,100 per year - to meet the 60% goal by 2030

Greenville County Population with an Associate Degree or Higher

NEXT attracts and helps grow high-impact, knowledge-based companies by developing the entrepreneurial ecosystem and connecting entrepreneurs to it.

NEXT accomplishes this work through three primary strategies:

GROW: Ecosystem. Members. Pipeline Marketing.

HELP: Services. Programs. Events.

MEASURE: Trends. Industries. Volume.

NEXT has identified 330 entrepreneurs in the region, with approximately 92 receiving some sort of services in Q3 and Q4 of 2022.

Of those 330, they fall into the following categories:

Significant accomplishments in 2022 included:

Creation

Venture

The Chamber’s Accelerate program has been an invaluable supporter of NEXT and the work that has been needed to cultivate a thriving startup scene in Greenville. We encourage more business leaders to engage with their time and talent through our mentoring program and within our NEXT Accelerator. With the Chamber’s support we have developed numerous opportunities to help our entrepreneurs realize their dreams including the NEXT Founders Fund and the continued growth of our annual Venture Summit. Entrepreneurial activity in our region will definitely accelerate from here!

- Scott Millwood, Deal

Strategies

Creation of the StartUpGVL Ecosystem Map (Pg. 6)

of the NEXT Founders Fund, a $6MM early stage fund, developed by local entrepreneurs.

NEXT LaunchPad awarded 8 entrepreneurs with $125K in prizes.

Summit exposed firms to more than 20 top investors representing over $1B in capital.

JOURNEY

Source: NEXT?

By caring more, and investing our time, talents, and resources into our entrepreneurs through programs like Launchpad, the better we become and, in turn, our community. Our entrepreneurs are the backbone of our community and by experiencing and engaging, everyone involved gains a greater sense of purpose and stronger sense of community. Their success becomes our success.

Greenville's business community has been so incredibly supportive of me and my business that I felt compelled to give back in any way that I can to ensure the success of other entrepreneurs in our community. This program provides unparalleled opportunity for both the participants and the coaches to continue to grow, learn and develop their businesses.

- Taryn Scher, TK Public Relations

- Brett Lanzl, Elliott Davis

The StartupGVL map demonstrates the various resources positioned to assist entrepreneurs on their journey.

The Minority Business Accelerator drives positive community economic impact by increasing the overall capacity of locally-based, high-potential women, veteran and minority-owned businesses. The program provides business development services, mentoring, technical assistance, and access to

ALL-TIME STATS

117 companies supported

$28MM+ in new revenue opportunities

280+ FTE opportunities created

MBA 10th ANNIVERSARY CELEBRATION

2022 highlights

52 net new jobs created

$55,000 median employee salary

60% of participants reported a revenue increase (vs. 55% national benchmark)

The Greenville Chamber hosted the MBA Tenth Anniversary Celebration, Presented by Bank of America, on September 8th. Headlining the anniversary celebration event was featured speaker, Jewel Burks Solomon, an Atlanta-based entrepreneur and speaker, most well-known for co-founding Partpic, which was acquired by Amazon in 2016. More than 120 individuals attended the event to celebrate the occasion.

In a partnership with Greenville County Schools to connect high school juniors and seniors with paid work-based learning internships, LaunchGVL continues to grow its impact on students and employers.

2022 IMPACT

33 Companies 99 Students Hired

5 LaunchGVL student interns each received $1,000 scholarships to support their post-secondary educational journeys tthanks to funding provided by Power:ED.

EMPLOYER PERSPECTIVE INTERN PERSPECTIVE

I first got involved with the Chamber after my Minority Business Accelerator experience. That has not only led to great business relationships and friendships, but also introduced me to LaunchGVL. Work-based learning is great because I can play a role in equipping our younger generation with knowledge to guide their development. Being involved, giving back and investing in the community has been amazing for myself and my business.

LaChandra Brown-Reynolds, Logan Chris Salon

LaunchGVL has helped me build the skills that can only be gained from working a job. Taking on high school interns will allow your business to connect with younger audiences and encourage students to explore careers within your job sector. Businesses around Greenville have already started bringing high school interns into their companies, as many have realized current high schoolers will soon be the future for their companies.

- Yashu Ranganathan, LaunchGVL Intern

COMMUNITY INSIGHTS DASHBOARD

The Chamber’s data visualization dashboard is designed as a tool for the business community, residents and policymakers to gain a more comprehensive understanding of the needs of the community.

1,100+ unique visitors

4,400+ page loads

12 Monthly Economic Indicators Reports

80 Ad Hoc Reports generated for SC State House & Senate Districts County Council Districts Accelerate Shareholders Area Businesses Prospective Businesses

VIEW THE FULL DASHBOARD

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Federal Credit Union

Truliant understands the value of good data in making decisions, both for business and for the community. We are pleased to be a supporter of the Chamber’s data platform and the monthly Economic Indicators Report. Solid data helps us all better understand the communities we serve and make better business decisions.

Ashley Crisp, Truliant

THANKS TO OUR FOUNDATION PARTNERS FUNDING ACCELERATE STRATEGIES

Bank of America Charitable Foundation

Goodwill Industries of Upstate/Midlands South Carolina

Hollingsworth Funds

Power:Ed

TD Charitable Foundation

Truist Foundation

Truliant Foundation

United Way of Greenville County

The Foundation bolsters our local economy by funding transformative projects that support the Chamber’s mission of leading, convening and mobilizing the business community to drive regional economic growth.

Accelerate Shareholders

TRUSTEE ($50,000+)

COMMUNITY CHAMPION ($30,000-$49,999)

Bon Secours St. Francis Health System

COMMUNITY INVESTOR ($20,000-$29,999)

Community Journals

Duke Energy

Greenville Technical College

Michelin

TD Bank

Greenville Triumph

Hollingsworth Funds

Hughes Development Corporation

COMMUNITY LEADER ($10,000-$19,999)

Community Foundation of Greenville

Pamela and David Evette

First National Bank

Furman University

General Electric

Ogletree Deakins

Pelham Medical Center

Quality Business Solutions

Southern First Bank

Thermo King

Trehel

COMMUNITY BUILDER ($5,000-$9,999)

ADUSA

AFL

AT&T

Berkshire Hathaway

Blue Ridge Electric

Cooperative

BMW Manufacturing Co.

Canal Insurance

Coldwell Banker Caine

Colliers International

CountyBank

Dority & Manning

Ernst & Young

Greenville County

Harness Health Partners

Hyatt Regency Greenville

Illumifin Corporation

International Vitamin Corporation

Judson Mill Ventures

Laurens Electric Cooperative, Inc.

MAU Workforce Solutions

SC Biz News

Truist

United Community Bank

USC Upstate Waldrop Plumbing-Heating-Air

Wells Fargo

McMillan Pazdan Smith

Architecture

Messer Construction

Nelson Mullins Riley & Scarborough, LLP

Pinnacle Bank

South Carolina Federal Credit Union

Synovus

Transcom

Verizon Wireless

Womble Bond Dickinson

Accelerate Shareholders

AssuredPartners

Bank of America

Bank of Travelers Rest

Bausch & Lomb

BDO

Bob Jones University

Bon Secours Wellness Arena

BRIGHT+CO

CBRE

Cherry Bekaert, LLP

CompX Security Products

Crowne Plaza

CSL Plasma

DAA Draexlmaier Automotive of America, LLC

DartPoints

DC Blox

Dodge Mechanical Power Transmission Company

DP3 Architects

DPR Construction

Elliott Davis

Encompass Health Rehabilitation

First Citizens Bank

First Horizon Bank

First Reliance Bank

FOX Carolina

Grainger

Greater Greenville Association of Realtors

Greenville ENT

Greenville Federal Credit Union

Greenville Spartanburg Airport

Hartness Development

The Hayes Approach

Haynsworth Sinkler Boyd, P.A.

Hilton Greenville

Horne

Hospitality America

House of Raeford

Hussey Gay Bell

Insight Global

ITW Hartness

Jordon Construction

JPMorgan Chase

Keller Williams Drive

KEMET Corporation

Kentwool

Lima One Capital

Lockheed Martin

Marsh McLennan Agency

Master Power Transmission Micco, LLC

Milliken & Co.

Mitsubishi Chemical America, Inc.

MP Husky

NAI Earle Furman

Newbold Services

Pacolet Milliken Enterprises, LLC

PAI Pharma

Park National Bank

Peace Center

Piedmont Arthritis Clinic

Piedmont Natural Gas

Pinnacle Partnership

The Post and Courier

Rick Erwin Dining Group, LLC

RocaPoint Partners

Sam’s Club

ScanSource

Sealed Air

Shellpoint Mortgage Servicing

Shumaker, Loop, & Kendrick, LLP

South Carolina Technology & Aviation Center

South State Bank

Spinx Company, Inc.

T & S Brass & Bronze Works

Table 301

TD SYNNEX Corporation

Team Cadre

Traylor Industrial | Ballard

Marine

Truliant Federal Credit Union

United Home Loan Services, Inc.

US&S

Vannoy Construction

Wal-Mart #5487

Walsh Executive Coaching –Vistage Upstate

Walter Tools

Westin Poinsett Hotel

WM Jordan Company

Wyche, P.A.

WYFF 4

Young Office

ZF Transmissions Gray Court, LLC

Zillion Technologies

Timothy Reed

TMS - Total Maintenance Solutions

United Way of Greenville County

WAYS TO ENGAGE

Support MBA Alumni

Partner with MBA for your supplier diversity initiatives or serve as a mentor or coach.

Mentor Startups with NEXT

Donate your services, time and expertise in one of NEXT’s programs.

Connect with the Career Navigator

Discover how the Career Navigator can help upskill your workforce.

Hire a LaunchGVL Intern Internships are offered throughout the school year and in the summer.

Inform Decisions with the Data Dashboard Use the Community Insights platform or request a custom report.

Spread the Word Share Accelerate’s impact with your network.

Key 2023 DATES

April 6 - #StartupGVL Launchpad Celebration Happy Hour

May 23 - LaunchGVL End of Year Celebration

July 18-19 - MBA Strategic Growth Action Plan Presentations

Q3 - Accelerate Shareholder Economic Update

September 20-21 - NEXT Venture Summit

Fall - Diversity, Equity and Inclusion Summit

October - LaunchGVL Interview Day

Q4 - Accelerate Shareholder and CEO Reception

December - MBA Graduation