2015 MID-YEAR REPORT
A MESSAGE FROM OUR PRESIDENT // JOHN LUMMUS The Upstate SC Alliance was founded on the idea that marketing and branding ourselves as a region makes us stronger and more competitive in the world of economic development. We believe that this approach allows all of our Upstate counties to gain exposure, capitalize on the strengths of surrounding areas, and have a better chance at recruiting new industry to our communities. With a record-setting number of announcements in 2014 and a strong start in 2015, the Upstate is setting a solid pace for growth over the next several years. Our region’s acceptance
into the competitive Global Cities Initiative represents our commitment to becoming a leader in the global economy. As economic development trends evolve over time, it’s important for the Upstate to remain on the cutting edge. We are committed to staying at the forefront of economic development and ensuring our region is globally recognized, globally connected, and globally competitive. As many of us repeat over and over, economic development is a team sport. The announcements and success we have experienced represent countless
MID-YEAR HIGHLIGHTS GLOBAL CITIES UPDATE
days, months, and sometimes even years of teamwork between our local economic development offices, the SC Department of Commerce, and our private sector investors. We are honored to work with and for such a talented group of professionals who can work together to achieve continued growth for our region. We are grateful for the support of our team of investors and partners who help us fulfill our mission of bringing the Upstate to the world and the world to the Upstate.
The Upstate SC Alliance’s work with the Global Cities Initiative, a joint project of the Brookings Institution and JPMorgan Chase, continues to be a priority focus for the organization. Launched in 2012, the Global Cities Initiative helps business and civic leaders grow their metropolitan economies by strengthening international connections and competitiveness. The Upstate SC Regional Export Plan was formally launched at the Alliance’s annual meeting on March 11, marking the transition from plan development to plan implementation which will be completed over the next three years. The plan lays out strategies and tactics designed to link regional strengths developed over decades of strong international recruitment to the needs of both established and emerging domestic enterprises to help them become globally nimble companies, the next generation of Upstate headquartered multi-national corporations. Recognizing that the Upstate’s
It’s true now more than ever,
“Business moves here.”
MID-YEAR FUNDRAISING MILESTONES 146
INVESTORS total private and public
132
14
PRIVATE sector investors
INVESTOR SUMMARY // Chairman’s Circle
3
// Board
48
// Honorary Board
2
// Partner
1
// Advocate
4
// Sponsor
22
// Friend
66
10
PUBLIC sector investors
NEW investors
NEW INVESTORS 41%
28%
// Goodwyn, Mills, Cawood // Greenville Downtown Airport (GMU)
Private Sector
28%
3%
// HRP Associates
other
// Human Technologies, Inc. // PWC // Redwood Living
// Windstream
Actual Income Through 6/30/15
2015 Projected Income
Percent to Projected
2014 Actual Income
$650,552.65
$1,401,751.00
49.41%
$1,333,256.50
$26,280.99
$53,679.84
48.96%
$141,847.18
States Funds Applied to Budget
$207,445.30
$575,000.00
36.08%
$409,092.77
Total Revenues
$926,278.94
$2,030,430.84
45.62%
$1,884,195.77
Expenses Through 6/30/15
2015 Approved Budget
Percent to Budgeted
2014 Actual Expenses
2015 Investor Revenue Sponsorships / Grants / Other Revenue
EXPENSE SUMMARY Total Operational Expense
$273,547.67
$595,753.90
45.92%
$488,049.84
Total Program & Service Expense
$562,101.94
$1,364,676.94
41.19%
$1,159,678.70
Total Fundraising Expense Total Expenses
Micro City of the Future in North & South America FDi Intenllegence (Greenville, SC)
future prosperity and competitiveness is tied strongly to its global connectivity, the Upstate SC Alliance also won acceptance into the 2015 group of metropolitan regions that will develop their Foreign Direct Investment (FDI) plans over the next several months. The Alliance kicked off the FDI planning process with a visit from Brad McDearman and Ryan Donohue from the Brookings team who discussed current FDI trends and highlighted key themes and findings from the FDI pilot cohort at the Q2 Board Meeting. Plan development working sessions with partner organizations and stakeholders will take place through the fall with a target for FDI Plan launch set for early 2016.
1 #1 #
Southeastern State for Export Growth (State of SC)
Top U.S. Economic Development Groups Site Selection Magazine
(Spartanburg Economic Futures Group & Oconee Economic Alliance)
1 #2 #
Best Place to Live Livability.com
(Greenville, SC)
Micro City for Business Friendliness FDi Intenllegence (Greenville, SC)
#
7
Of 10 Best Places to Visit in the U.S. Lonely Planet
(Greenville, SC)
DATE(S)
LOCATION
TARGET(S)
CONTACT
Charlotte COI Mission
Aug. 25
Charlotte, NC
Site Consultants/COIs
Jacob Hickman
IAA & 40th Anniversary Mission
Sept. 10-18
Sweden & Germany
All Sectors
John Lummus
United Kingdom NW Mission
Sept. 21-25
NW United Kingdom
Industrial Manufacturing
Jacob Hickman
IAMC Fall Forum
Sept. 26-30
Cleveland, OH
COIs
Aimee Redick
Toronto Mini Mission
Oct. 5-7
Toronto, ON
All Sectors
Jacob Hickman
Spain Mission
Oct. 19-23
Spain/Ireland
All Sectors
Aimee Redick
AirTec International Aerospace Supply Fair
Nov. 3-5
Frankfurt, Germany
Aerospace
Jacob Hickman
OESA Annual Outlook/Detroit Mission
Nov. 10
Detroit, MI
Automotive
Aimee Redick
SEUS Japan
Nov. 14-16
Birmingham, AL
All Sectors
TBD
PLMA Private Label Show
Nov. 15-17
Chicago, IL
Agribusiness/Food
Jacob Hickman
SCAC/OESA Joint Meeting
Aug. 27
Greenville, SC
Automotive
Aimee Redick
SC Aerospace Industry Event
Aug. 26-27
Columbia, SC
Aerospace
Jacob Hickman
Upstate Consultant Event
Oct. 7-9
Upstate SC
COIs
Aimee Redick
Outbound Events
// Triangle Construction Co.
INCOME SUMMARY
1
MAJOR MARKETING & BUSINESS RECRUITMENT CALENDAR PROPOSED EVENT
// Sage Automotive
MID-YEAR BUDGET
#
// Chase Bank
Public Sector
State Funding
RECENT RANKINGS & RECOGNITION
$22,992.10
$70,000.00
32.85%
$55,734.00
$858,641.71
$2,030,430.84
42.29%
$1,703,462.42
Inbound Events
UK Delegation in the Upstate
Oct. 19-23
Upstate SC
UK Companies
Jacob Hickman
SCBIO
Nov. 5-6
Charleston, SC
BIO
Jacob Hickman
A MESSAGE FROM OUR PRESIDENT // JOHN LUMMUS The Upstate SC Alliance was founded on the idea that marketing and branding ourselves as a region makes us stronger and more competitive in the world of economic development. We believe that this approach allows all of our Upstate counties to gain exposure, capitalize on the strengths of surrounding areas, and have a better chance at recruiting new industry to our communities. With a record-setting number of announcements in 2014 and a strong start in 2015, the Upstate is setting a solid pace for growth over the next several years. Our region’s acceptance
into the competitive Global Cities Initiative represents our commitment to becoming a leader in the global economy. As economic development trends evolve over time, it’s important for the Upstate to remain on the cutting edge. We are committed to staying at the forefront of economic development and ensuring our region is globally recognized, globally connected, and globally competitive. As many of us repeat over and over, economic development is a team sport. The announcements and success we have experienced represent countless
MID-YEAR HIGHLIGHTS GLOBAL CITIES UPDATE
days, months, and sometimes even years of teamwork between our local economic development offices, the SC Department of Commerce, and our private sector investors. We are honored to work with and for such a talented group of professionals who can work together to achieve continued growth for our region. We are grateful for the support of our team of investors and partners who help us fulfill our mission of bringing the Upstate to the world and the world to the Upstate.
The Upstate SC Alliance’s work with the Global Cities Initiative, a joint project of the Brookings Institution and JPMorgan Chase, continues to be a priority focus for the organization. Launched in 2012, the Global Cities Initiative helps business and civic leaders grow their metropolitan economies by strengthening international connections and competitiveness. The Upstate SC Regional Export Plan was formally launched at the Alliance’s annual meeting on March 11, marking the transition from plan development to plan implementation which will be completed over the next three years. The plan lays out strategies and tactics designed to link regional strengths developed over decades of strong international recruitment to the needs of both established and emerging domestic enterprises to help them become globally nimble companies, the next generation of Upstate headquartered multi-national corporations. Recognizing that the Upstate’s
It’s true now more than ever,
“Business moves here.”
MID-YEAR FUNDRAISING MILESTONES 146
INVESTORS total private and public
132
14
PRIVATE sector investors
INVESTOR SUMMARY // Chairman’s Circle
3
// Board
48
// Honorary Board
2
// Partner
1
// Advocate
4
// Sponsor
22
// Friend
66
10
PUBLIC sector investors
NEW investors
NEW INVESTORS 41%
28%
// Goodwyn, Mills, Cawood // Greenville Downtown Airport (GMU)
Private Sector
28%
3%
// HRP Associates
other
// Human Technologies, Inc. // PWC // Redwood Living
// Windstream
Actual Income Through 6/30/15
2015 Projected Income
Percent to Projected
2014 Actual Income
$650,552.65
$1,401,751.00
49.41%
$1,333,256.50
$26,280.99
$53,679.84
48.96%
$141,847.18
States Funds Applied to Budget
$207,445.30
$575,000.00
36.08%
$409,092.77
Total Revenues
$926,278.94
$2,030,430.84
45.62%
$1,884,195.77
Expenses Through 6/30/15
2015 Approved Budget
Percent to Budgeted
2014 Actual Expenses
2015 Investor Revenue Sponsorships / Grants / Other Revenue
EXPENSE SUMMARY Total Operational Expense
$273,547.67
$595,753.90
45.92%
$488,049.84
Total Program & Service Expense
$562,101.94
$1,364,676.94
41.19%
$1,159,678.70
Total Fundraising Expense Total Expenses
Micro City of the Future in North & South America FDi Intenllegence (Greenville, SC)
future prosperity and competitiveness is tied strongly to its global connectivity, the Upstate SC Alliance also won acceptance into the 2015 group of metropolitan regions that will develop their Foreign Direct Investment (FDI) plans over the next several months. The Alliance kicked off the FDI planning process with a visit from Brad McDearman and Ryan Donohue from the Brookings team who discussed current FDI trends and highlighted key themes and findings from the FDI pilot cohort at the Q2 Board Meeting. Plan development working sessions with partner organizations and stakeholders will take place through the fall with a target for FDI Plan launch set for early 2016.
1 #1 #
Southeastern State for Export Growth (State of SC)
Top U.S. Economic Development Groups Site Selection Magazine
(Spartanburg Economic Futures Group & Oconee Economic Alliance)
1 #2 #
Best Place to Live Livability.com
(Greenville, SC)
Micro City for Business Friendliness FDi Intenllegence (Greenville, SC)
#
7
Of 10 Best Places to Visit in the U.S. Lonely Planet
(Greenville, SC)
DATE(S)
LOCATION
TARGET(S)
CONTACT
Charlotte COI Mission
Aug. 25
Charlotte, NC
Site Consultants/COIs
Jacob Hickman
IAA & 40th Anniversary Mission
Sept. 10-18
Sweden & Germany
All Sectors
John Lummus
United Kingdom NW Mission
Sept. 21-25
NW United Kingdom
Industrial Manufacturing
Jacob Hickman
IAMC Fall Forum
Sept. 26-30
Cleveland, OH
COIs
Aimee Redick
Toronto Mini Mission
Oct. 5-7
Toronto, ON
All Sectors
Jacob Hickman
Spain Mission
Oct. 19-23
Spain/Ireland
All Sectors
Aimee Redick
AirTec International Aerospace Supply Fair
Nov. 3-5
Frankfurt, Germany
Aerospace
Jacob Hickman
OESA Annual Outlook/Detroit Mission
Nov. 10
Detroit, MI
Automotive
Aimee Redick
SEUS Japan
Nov. 14-16
Birmingham, AL
All Sectors
TBD
PLMA Private Label Show
Nov. 15-17
Chicago, IL
Agribusiness/Food
Jacob Hickman
SCAC/OESA Joint Meeting
Aug. 27
Greenville, SC
Automotive
Aimee Redick
SC Aerospace Industry Event
Aug. 26-27
Columbia, SC
Aerospace
Jacob Hickman
Upstate Consultant Event
Oct. 7-9
Upstate SC
COIs
Aimee Redick
Outbound Events
// Triangle Construction Co.
INCOME SUMMARY
1
MAJOR MARKETING & BUSINESS RECRUITMENT CALENDAR PROPOSED EVENT
// Sage Automotive
MID-YEAR BUDGET
#
// Chase Bank
Public Sector
State Funding
RECENT RANKINGS & RECOGNITION
$22,992.10
$70,000.00
32.85%
$55,734.00
$858,641.71
$2,030,430.84
42.29%
$1,703,462.42
Inbound Events
UK Delegation in the Upstate
Oct. 19-23
Upstate SC
UK Companies
Jacob Hickman
SCBIO
Nov. 5-6
Charleston, SC
BIO
Jacob Hickman
2015 YTD ANNOUNCED CAPITAL INVESTMENT & JOB CREATION
$
455,030,000 2,706 25
JOBS CREATED COMPANIES 13 NEW // 12 EXISTING
PRESENTATIONS
RFIs
VISITS
presentations made to external market audiences about the Upstate
formal prospect information requests issued to economic development teams
visits by companies and centers of influence to the Upstate
390 2014 141 2015
IN 64 TOTAL 2014 32 YTD 2015
94 36
TOTAL IN YTD
NEW & EXPANDING COMPANIES // // // // // // // // // // // // // // // // // // // // // // // // //
CAPITAL INVESTMENT
3S International Corporation BorgWarner Inc. CareCam Health systems CH2M Coca-Cola Cott Beverages Dollar Tree EuWe Eugen Wexler US Plastics Inc. ITECH South ITT Corporation King Automation Kobelco Construction Machinery USA Inc. MAIREC Marleylilly Moderna Products O’Neal Inc. Pantex Americas Inc. PecTec Corporation Polydeck Screen Corporation Rite Aid Corporation Schaffler Group USA SYNNEX Corporation Techtronic Industries NA (TTI) U.S. Building Innovation, Inc. Vapor Apparel
upstateSCalliance.com Follow us on Twitter @SCUpstate Find us at facebook.com/upstateSCalliance Watch at youtube.com/upstateSCalliance
TOTAL IN 2014 YTD 2015
2015 PIPELINE YTD Pipeline by Target Industry Type
Automotive & Transport Advanced Materials Bioscience & Healthcare Aerospace & Defense Energy & Utilities Industrial Manufacturing Business Services Other
112 108 77 71 46 45 35 60
COUNTRIES OF INTEREST
Top 6 Countries by Active Contacts in Pipeline
USA Canada Ireland Germany United Kingdom Spain
213 67 55 48 37 25