2023 Accelerate Impact Report

Greenville’s Private Sector-Fueled Economic Development Initiative

A LETTER FROM ACCELERATE CO-CHAIRS

Thank you to our Accelerate Shareholders for a phenomenal 2023. We are proud of the work that was accomplished in the previous year to Grow a Greater Greenville.

Your investment has directly impacted hundreds of lives in Greenville County in the past year alone through the following strategic priorities:

1. Increase educational attainment for working adults ages 25-64

2. Drive entrepreneurial ecosystem growth

3. Deliver 21st century talent and workforce

4. Inform and influence decisions with economic data

On the following pages of this report, you will read more about the impact of these programs. One of the most rewarding parts about the role that we serve is the front-row seat we have to the real lives who benefit from this work. We hear stories from Upstate residents such as Julio Parra who made the bold decision to go back to school with the assistance of TalentRiseGVL so that he could better support his family, or Celeste Purdie who participated in the Minority Business Accelerator to scale and grow her business.

Stories like Celeste and Julio cement our commitment to growing the Accelerate program. We invite you to join us in these efforts. If you have not yet found a way to meaningfully engage in this transformative work, please reach out and we will be happy to help. Thank you for making a difference in our community.

Accelerate Co-Chairs

Erwin Carter, Newbold Services Mike Sarvis,

First National Bank

Mike Sarvis, Carlos Phillips, and Erwin Carter

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$793,990

$793,990

ACCELERATE KEY METRICS

Per Capita Personal Income (PCPI) is Accelerate’s north star metric. PCPI demonstrates whether a region is living up to its economic potential. And Greenville? There is an opportunity to improve and deliver greater economic prosperity for all. In 2022, Greenville County’s PCPI ($56,653) stood at 86.5% of the US level. Growth in Greenville’s PCPI has not kept pace with the nation, falling from relative parity with the US twenty-five years ago.

Many peer and aspirational metros are “overperforming” based on PCPI. Greenville’s opportunity for improvement challenges local leaders to develop strategic initiatives to impact PCPI and improve our rankings relative to the nation and these metros. Raising Greenville’s PCPI to the national level means $4.7 Billion in additional economic activity per year.

For additional Economic Competitiveness comparisons, visit the Accelerate Metro Benchmarks dashboard.

Columbus, OH Greenville, SC Charleston, SC Pittsburgh, PA Raleigh, NC Nashville, TN Austin, TX

2022 Value of Per Capita Income Gap

2022 Educational Attainment Rate

2021 Minority-Owned Businesses Per 10,000 POC

EDUCATIONAL ATTAINMENT

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

2023 Successes:

Hired a Career Navigator

Launched TalentRiseGVL

• 67 adults participated in TalentRiseGVL

• Average age is 36

• 75% are Persons of Color

• 75% are Female

• 70%+ are below Greenville County’s median household income ($71,728)

Accelerate’s focus on increasing education attainment is not only beneficial for individuals but also for companies like ours seeking skilled talent. By investing in education initiatives, we’re not just investing in the future of Greenville’s workforce, but also securing our own success in a competitive market.

James Jordon Jordon Construction Company

TalentRiseGVL will continue its growth trajectory and scaling early success.

ENTREPRENEURIAL ECOSYSTEM

Accelerate is driving entrepreneurial ecosystem growth.

NextGEN is the new name for NEXT, combining a recognition of where it originated with a focus on the larger Greenville Entrepreneur Network.

2023 by the Numbers:

• NextGEN served 127 client companies, a 38% increase from 2022.

• NextGEN firms reported raising more than $40MM in funding in 2023.

• The average salary paid by NextGEN firms was reported to be $68,185, more than 17% than the average county wage.

• 15% of NextGEN firms are minority-owned.

• 20% are female-owned.

When I moved to Greenville and started my company, NextGEN was the perfect front door to making connections and meeting other entrepreneurs in Greenville. I’d recommend any founder getting involved with NextGEN.

NextGEN will refine key programming, including the accelerator and mentor continuum, and will host the 9th Next Venture Summit in September.

Marty

TWO

ENTREPRENEURIAL ECOSYSTEM PILLAR NUMBER

1080 coaching hours were invested in 9 minority owned companies that participated in the year-long Minority Business Accelerator program.

Minority Business Accelerator companies are boosting the economy.

2023 IMPACT DATA:

• 100% of businesses increased or maintained annual revenue

• 105 total jobs created or retained

• $1.9M in new financing secured

• 100% of businesses are likely to recommend the MBA program

By supporting organizations and fostering innovation, Accelerate is shaping Greenville into a hub for business development and economic growth, making it an invaluable investment for any forward-thinking company.

Adopt and implement the above four priorites as an exciting, new direction guiding the growth of the program. PRIORITY

Paul Brocklebank Canal Insurance

PILLAR NUMBER THREE

21st CENTURY TALENT

Accelerate is delivering 21st century talent and workforce.

LaunchGVL is a partnership between the Greenville Chamber and Greenville County Schools to connect high school juniors and seniors with paid, work-based learning.

Companies Hired 144 students for paid internships

• 67% Female

• 54% Persons of Color

• 45% had at least one indicator of being a pupil in poverty

At the annual LaunchGVL Celebration, USC Upstate partnered with LaunchGVL to provide scholarships to students that completed internships. Five students and their families were surprised by the presentation of scholarships by Chancellor Bennie Harris. Three students were selected to receive last-dollar scholarships paying any tuition balance left after financial aid and scholarships.

University of South Carolina

School of Medicine Greenville is grateful for the collaboration with Accelerate as we work together to transform lives through the power of education.

Dr. Marjorie Jenkins

USC School of Medicine Greenville

LaunchGVL has contracted an outside consultant to develop an optimization plan to impact more students and develop talent pipelines for area employers.

GreenvilleChamber.org

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.

6,000+

12 Monthly Economic Indicators Reports

60 Ad Hoc reports generated for:

• SC State House & Senate Districts

• County Council Districts

• Accelerate Shareholders

• Area Businesses

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Businesses

Accelerate is one of the many thoughtful and purposeful community investments made by Prisma Health - Upstate. We invest because we believe in Accelerate’s contributions to community vibrancy and economic development.

Clarence Sevillian Prisma Health – Upstate

Through the Community Insights platform, the team is establishing new data partnerships with community-based organizations.

GreenvilleChamber.org

GREENVILLE CHAMBER FOUNDATION

Learn more about the Greenville Chamber Foundation

Thank You to our Foundation Partners funding Accelerate strategies.

Bank of America Charitable Foundation

Hollingsworth Funds

Power:Ed

TD Charitable Foundation

Truist Foundation

Truliant Foundation

United Way of Greenville County

1 in 3 Dollars

Invested in Accelerate-related activities flows through the Greenville Chamber Foundation

Hollingsworth Funds appreciates Accelerate’s forward-thinking strategies to economic development, focusing on attracting headquarters, empowering our workforce, fostering minority businesses, and driving transformative projects. These efforts are crucial for securing Greenville’s competitive edge and building a vibrant, just, and inclusive community for all.”

Gage Weekes

Hollingsworth Funds

Meghan Barp

GreenvilleChamber.org

ACCELERATE SHAREHOLDERS

As of March 4, 2024

TRUSTEE ($50,000+)

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

Michelin

TD Bank

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

Audacy

Community Journals

Duke Energy

Greenville Technical College

GSA Business/SC Biz News

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

Community Foundation of Greenville

Concordance

First National Bank

Furman University

GE Power

Ogletree Deakins Law Firm

Pelham Medical Center

Quality Business Solutions

Resurgent Capital Services

Southern First Bank

Thermo King

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

ADUSA

AFL

AT&T

Berkshire Hathaway

HomeServices C. Dan Joyner, REALTORS

Blue Ridge Electric Cooperative

BMW Manufacturing Co.

Bon Secours St. Francis

Health System

Canal Insurance

Coldwell Banker Caine

Colliers International CountyBank

Dority & Manning, Attorneys at Law, P.A.

Ernst & Young, LLP

First Citizens Bank & Trust of S.C.

Greenville County Council/ Government

Hughes Development Corporation

Hyatt Regency Greenville

Laurens Electric Cooperative, Inc.

Lumos Fiber

MAU Workforce Solutions

McMillan Pazdan Smith Architecture

Messer Construction

Hollingsworth Funds Truist

Trehel Corporation

United Community Bank

USC Upstate

Wells Fargo

Whataburger

GreenvilleChamber.org

Nelson Mullins Riley & Scarborough, LLP

Pinnacle Bank

Safe-Guard

South Carolina Federal Credit Union

Synovus

TD SYNNEX Corporation

Transcom

Tri-Logistics, LLC

Truliant Federal Credit Union

Verizon Wireless

Womble Bond Dickinson

ACCELERATE SHAREHOLDERS

As of March 4, 2024

3M

AAA – The Auto Club Group

AARP

Affordable Upstate

Alera Group

Alo USA

AssuredPartners

Bank of America

Bank of Travelers Rest

Barbour Orthopaedics & Spine

Bausch & Lomb

BDO

Bob Jones University

Bon Secours Wellness Arena

BRIGHT + CO

bu:st llc

CBRE

Clancy & Theys Construction

CompX Security Products

Corsica Technologies

Crown Castle

Crowne Plaza

CSL Plasma

DartPoints

Dodge Industrial

Dodge Industrial – Greenville Gear Plant

DP3 ARCHITECTS, LTD

DPR Construction

Elliott Davis, LLC

Encompass Health Rehabilitation Hospital of Greenville

Pamela and David Evette

First Horizon Bank

First Reliance Bank

Goodwill Industries

Greater Greenville Association of Realtors

Greenville Federal Credit Union

Greenville Theatre

Greenville Transit Authority

Greenville Spartanburg Airport

GreenWood, Inc.

Harper Corporation

Hayes Approach, The Haynsworth Sinkler Boyd, P.A.

Heritage Landscape Services

High Spirits Hospitality

Hilton Greenville

Horne

Hospitality of America

Hotel Hartness

House of Raeford

Hussey Gay Bell

ITW Hartness

Jordon Construction Company

JPMorgan Chase

KEMET Corporation

Latitude AI

Lima One

Lockheed Martin

Main Event

Marsh McLennan Agency

Master Power Transmission

Micco, LLC

Milliken & Co.

Mitsubishi Chemical America, Inc.

NAI Earle Furman

Newbold Services

Newrez

Pacolet Milliken Enterprises, LLC

PAI Pharma

Park National Bank

Peace Center

Piedmont Natural Gas

Pinnacle Partnership

Post & Courier Greenville, The Purpose Financial Regions Bank

Rescom Construction

Rick Erwin Dining Group, LLC

Ridge Media

Ripple Fiber

RocaPoint Partners

ScanSource

Sealed Air

Shumaker, Loop, & Kendrick, LLP

South Carolina Technology & Aviation Center

South State Bank

Southwest Airlines

Spare Time Entertainment

Spinx Company, Inc.

Swafford Transportation

T & S Brass & Bronze Works

Table 301

Team Cadre

Traylor Industrial US&S

Vannoy Construction

Wal-Mart #5487

Walsh Executive

Coaching-Vistage

Walter Tools

Westin Poinsett, The WinRate Consulting

WM Jordon Company

Wyche, P.A.

WYFF 4

Young Office

ZF Transmissions Gray Court, LLC

WHO’S MAKING IT HAPPEN

Carlos Phillips / President & CEO - Greenville Chamber

Accelerate represents the business community investing in the further development of the Greenville area’s economic success and creating opportunities for more people to prosper.

It is an honor to serve in this capacity alongside the many talented individuals who move Accelerate forward. Through my role as co-chair, I have an exciting, front row seat to the transformative and meaningful impact that Accelerate is having on

I am truly passionate about supporting Accelerate’s initiatives that cultivate further economic growth in the region, with a special focus on building an inclusive entrepreneurial ecosystem that generates high quality jobs and wealth.

Benedicte Axboe / Career Navigator - Greenville Chamber

TalentRiseGVL is changing the lives of people in our community by connecting hard working adults with training and education opportunities. Every day I am excited to engage in this rewarding work that is improving the socio-economic status of our traditionally underserved communities and growing the workforce in the Upstate.

Dr. Cheryl Garrison / Executive Director of Greenville Chamber Foundation & Director of Talent, Education and Leadership - Greenville Chamber

The work of LaunchGVL and TalentRiseGVL are near and dear to my heart because I have seen the lifechanging impact that education and employment can have in the lives of individuals and their families. Creating and implementing these programs to do this on a large scale help our businesses succeed AND people prosper! It is a win-win!

GreenvilleChamber.org

WHO’S MAKING IT HAPPEN

Lori Hoyer / LaunchGVL Program Coordinator - Greenville Chamber

For over 12 years, I have had the honor and privilege of connecting students with employers through work-based learning opportunities. While college internships are common, it is unusual to find a program that provides paid high school internships in a systematic way. I find great satisfaction in being a part of these valuable experiences especially in situations where student barriers are overcome, and future career paths are discovered!

Hank Hyatt / Senior Vice President, Economic Competitiveness - Greenville Chamber

Good data spurs questions, conversations and, hopefully, action. Developing a solid data story about Greenville, especially about who we are and where we are going is foundational. In the end, data allows us to build a stronger community for all.

Wendell Jones / Wendell Jones Leadership Institute & Minority Business Accelerator Facilitator

Historically, small businesses have always been the cornerstone of every major city because they stabilize communities by creating inheritable wealth, by providing employment opportunities and by inspiring future generations to become major contributors to their local economies. The Minority Business Accelerator program continues to successfully leverage these truths and Greenville is better because of it.

Natasha Pitts / Vice President, Diversity and Economic Inclusion - Greenville Chamber

I have always been passionate about fairness, access, and equity. The MBA program gives minority businesses the tools needed to scale and grow their business while giving them access to chamber investors that can help them along the way.

Eric Weissmann / Executive Director - NextGEN

I’m motivated by impact and a maximalist by nature. Entrepreneurship is not only about building companies, but it’s also about building communities. At NextGEN we get to do both and that keeps me fired up.