BOB COOK, CO-OWNER OF BURNT AND SALTY
PAGE 4 VOLUME 28 NUMBER 7 ■ CHARLESTONBUSINESS.COM
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APRIL 18-MAY 1, 2022 ■ $2.25
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Boeing education program reaches 1 million students
Cash is king
Paying cash, buying homes fully furnished and more real-estate trends in 2022. Page 10
By Alexandria Ng
F
Hitting the water
Sportsman Boats expands its Summerville shop just in time for summer. Page 6
Hospital expansion A new Veterans Medical Center could come to Dorchester County. Page 14
Supporting Volvo
BMW, Mercedes supplier opens new site to assist Ridgeville car manufacturer. Page 10
INSIDE
Upfront................................. 2 SC Biz News Briefs................. 3 Small Business Spotlight........ 4 In Focus: Architecture, Engineering and Construction................ 13 List: Landscape Architecture Firms..............26 At Work...............................27 Viewpoint............................ 31
Court’s in session Olympic gold medalist Belinda Bencic won the Credit One Charleston Open on April 10, the first event held in the renovated Daniel Island stadium. Page 13 Photo/Teri Errico Griffis
ang@scbiznews.com
ifth-graders nowadays aren’t just talking about TikTok and Fortnite—they’re discussing advanced manufacturing, aerodynamics and the future of STEM education. These conversations are facilitated through Boeing South Carolina’s DreamLearners educational program, which celebrated one million participants this month. On April 6, representatives from Boeing, North Charleston Elementary School and local community leaders gathered to celebrate this milestone. “STEM education unlocks tomorrow’s innovations, encouraging breakthroughs and advancements we can’t even imagine today,” said Ziad Ojakli, executive vice president of government operations at Boeing, who attended the event. “Boeing celebrates the inspiration and sense of accomplishment STEM programs can bring to young minds, and we are proud to champion a unique program like DreamLearners.” DreamLearners began in 2012 as a STEM-based instructional program that educates students about Boeing’s presence in the state, as well as about advanced manufacturing and aerospace. While students of all ages can take part in the educational offerings, the program also meets the Force and Motion standards for fifth-grade classes in the state of South Carolina. Participants of DreamLearners get the chance to contribute to group activities while learning more about different careers at Boeing and the benefits of a STEM-focused education through speaker events See BOEING, Page 8
CHARLESTON UNDER CONSTRUCTION Who is building what in the Charleston area? Projects, companies, prices, projected timelines, photos and stories. Page 13
Upfront
BRIEFS | FACTS | STATEWIDE NEWS | BEST ADVICE
Hot Houses
T
here was a pause on the real estate housing front in 2020. As if for dramatic effect, everything stopped while everyone stayed home. Then, as though everyone at home started looking at their housing situation, notions broke out everywhere: notions to decorate, notions to fix and repair, notions to upgrade and, it seems, notions to move. The quiet real estate housing market took off as we got deeper into the COVID-19 pandemic in 2020. In 2021, it turned red hot. These graphs show the increase in new lists in 2021 over 2020 and the number of closed sales in 2021 year over year. Even the slowest submarkets saw increases. Lawrence Young, economist for the National Association of Realtors, expects 2022 to cool off some but to remain vigorous.
New listings statewide
Closed sales statewide 133,687 129,718
121,379
2017
127,266
90,481
124,191
+2.3%
+4.5%
-1.9%
+5.0%
2018
2019
2020
2021
2017
Top 5 Areas: Change in New Listings from 2020
121,687
109,523
94,579
99,419
+2.3%
+4.5%
-1.9%
+5.0%
2018
2019
2020
2021
Top 5 Areas: Change in Closed Sales from 2020
Aiken
+21.3%
Coastal Carolinas
+21.8%
Sumter
+20.8%
Cherokee
+21.8%
Central Carolina
+19.0%
Aiken
+18.6%
Cherokee
+16.7%
Sumter
+17.6%
Greenwood
+14.3%
Greater Augusta
+12.2%
Bottom 5 Areas: Change in New Listings from 2020
Bottom 5 Areas: Change in Closed Sales from 2020
Charleston Trident
+1.9%
Hilton Head
+7.4%
Beaufort
+1.8%
Central Carolina
+5.9%
Hilton Head
+1.4%
Piedmont
+5.1%
Piedmont
+0.8%
Western Upstate
+4.4%
Spartanburg
+0.1%
Spartanburg
+3.1%
Source: South Carolina Realtors
ON THE
RECORD
“Until we can absorb all of the buyers, the market’s not going to level off any time soon. And it’s going to take a while to absorb all of these buyers.” — Leslie Turner, co-founder and broker-in-charge of Maison Real Estate
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SC Biz News Briefs A 113-unit apartment property in downtown Columbia has sold for $17.45 million. Land Bank Lofts, located at 1401 Hampton St., was purchased by Xsite Capital Investment LLC. (Photo/Provided)
MIDLANDS
Columbia Regional Business Report
Downtown Columbia apartments sell for $17.45 million
A
113-unit apartment property in downtown Columbia has sold for $17.45 million. Land Bank Lofts, located at 1401 Hampton St., was purchased by Xsite Capital Investment LLC. Drew Babcock, an investment specialist in commercial real estate brokerage firm Marcus & Millichap’s Columbia office, marketed the property on behalf of its seller, Heritage Land and Development LLC. The 2.2-acre property features a mix of studio and one- and two-bedroom apartments. Each unit includes an open floor plan with high ceilings, stainless steel appliances, quartz countertops and stackable washer and dryer sets. Amenities include a pool, a business center and on-site surface parking. “The downtown Columbia rental market demands some of the highest rent in South Carolina,” Babcock said in a news release. “The seller did a tremendous job in renovating Land Bank Lofts and offering its residents the best surface parking in downtown Columbia, which will be a huge asset in the future.” CRBJ
UPSTATE
GSA Business Report
Bon Secours opens $39M ER, outpatient campus
B
on Secours patients in Simpsonville now have a 52,963-square-foot emergency department and health care facility in town along Interstate 385. The Bon Secours St. Francis Health System held a grand opening celebration for the 15-acre campus on March 31, built with a $39 million investment. The 24-hour freestanding emergency department opened to public on April 6. “It’s growing so fast, and we want to meet people where they are with the services they need. So Simpsonville was the next logical step,” Matt Caldwell, president of Bon Secours St. Francis Health System, said in a news release. “Bon Secours has a longstanding history of providing quality and compassionate care, specifically when it comes to underserved communities. When looking at Simpsonville, our hope is to carry on that legacy and make sure we really are looking after the mind, body and spirit of the population as it continues to grow.” The facility is located at 3970 Grandview Drive, right along I-385 which provides easier, more convenient access to care for those living in the southern part of the county. Throughout the month, Upstate Cardiology at Simpsonville, Stoneview Internal Medicine and Carolina Women’s Health at Simpsonville will also begin to relocate to the new medical office building. Piedmont Orthopaedics also has plans to open a new Simpsonville-based office on the Bon Secours St. Francis Health System campus. Retail pharmacy, radiology, phlebotomy and behavior health services also will be available on location. “We can diagnose and treat the same types of emergencies and illnesses that are seen in our hospital-based ERs, with the same goal of seeing and treating patients as quickly as possible,” Caldwell said in the release. Piedmont Orthopaedics will also open a new Simpsonville-based office in the facility, the release said. CRBJ
READY TO ROLL
VOLUME 25 NUMBER 6 ■ GSABUSINESS.COM Part of the
APRIL 11-24, 2022 ■ $2.25
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Beasley appeals to private sector to help Ukraine
Planting seeds
Entrepreneurial program accepting applications Page 7
By Melinda Waldrop
F
Beer business
Beverage attorney shares insight into booming sector Page 10
Driving force
Auto industry is major economic engine in S.C. Page 14
Start the press BMW investing $20M in Upstate press shop Page 16
FOOT ON THE ACCELERATOR On March 24, the U.S. Postal Service placed its first $2.98 billion order for 50,000 next-generation postal vehicles to be made in Spartanburg. Oshkoch Corp.’s 2021 production contract has run into some snags. (Photo/Provided)
SC politicians stand behind Oshkosh contract By Molly Hulsey
INSIDE
Upfront ................................ 2 SC Biz News Briefs ................ 3 In Focus: Manufacturing and Automotive ........................ 13 List: Law Firms ...............18,19 Bonus List: Business Communication Companies ......................................... 20 Viewpoint ...........................23
O
mhulsey@scbiznews.com
shkosh Defense’s contract to build the U.S. Postal Service’s replacement truck fleet continues to meet opposition, but the company stands by its decision to produce the Next Generation Delivery Vehicle in South Carolina. Earlier this month, Democrats in the U.S. House of Representatives requested an investigation into the Postal Service’s plans for the Oshkosh contract and its compliance with National
Environmental Policy Act reporting practices. An initial $482 million contract to begin replacing the 230,000-vehicle fleet with a mix of gas and electric-powered vehicles was awarded to Oshkosh Corp. in February 2021. But two months later, President Joe Biden signed an executive order to make the federal government carbon neutral by 2050 and all federal fleets electric by 2035. The letter cited concerns from the Environmental Protection Agency, the White House See OSHKOSH, Page 15
mwaldrop@scbiznews.com
ormer S.C. Gov. David Beasley descended the steps of his old office building on March 29 to appeal to the private sector for donations to stave off a humanitarian crisis he warned could rapidly spiral beyond Ukraine. Citing 40 million people still inside the country at risk of severe food insecurity after the Russian invasion of Feb. 24, Beasley, now the executive director of the United Nations’ World Food Programme, called upon corporations and individuals to help curtail what he called the “worst crisis Europe has faced in a decade” during a news conference at the S.C. Statehouse. Beasley has led the WFP, awarded the Nobel Peace Prize in October 2020 for its work providing lifesaving food to millions worldwide, since April 2017. He emphasized that the looming crisis in Ukraine will soon be a global one if the WFP cannot raise $850 million in additional funds it will need by the end of this year to try to mitigate the damage. “Ukraine is the breadbasket for the world. They grow enough food to feed 400 million people,” Beasley said. “Twenty percent of the world’s corn comes from Ukraine. Thirty percent of the world’s supply of wheat comes from Russia and Ukraine. Forty percent of fertilizer base product comes from Belarus and Russia. All of this is stuck as we speak. We’re now looking at an additional 30 to 50 million people going into severe food insecurity around the world because of what’s happening inside Ukraine.” More funding is critical, Beasley See BEASLEY, Page 6
Powering the pipeline
Dominion Energy career day aims to spark interest in utility careers Page 8
ColumbiaBusinessReport.com
There’s an app... Manufacturer funds community policing strategy. Page 8
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Despite some challenges to their contract and their plan, Oshkosh Defense still plans to be the fourth major automaker in South Carolina. See story, Page 14
FEBRUARY 2022
Knudt Flor takes the floor
Former BMW exec connects the public and private. Page 11
Capitol funds
Work in an environment where you are Captain of your Destiny. Achieve success in a financial services career helping others where your earning potential is only as limited as your ambition!
Talk to our Financial Professionals at MassMutual South Carolina Thursday, April 28, 8:30 – 5:00 Charleston Metro Chamber of Commerce 4922 O’Hear Avenue, Suite 101 North Charleston, SC 29405 Call Brandon Grimm at 843-856-5512 or email him at bgrimm@massmutualbrokerage.com to reserve your 30-minute interview.
$101 million from ARPA soon will be sent to S.C. businesses. Page 12
Sanctions squelch Russian economy But none of that matters, says economist Stephen Slifer. Page 22
INSIDE
Leading Off .......................... 2 SC Biz News Briefs ................ 3 C-Suite ................................ 4 In Focus: Law Firms ........... 16 LIST: Business Communication Cos. ................................... 18 At Work ............................. 20 Viewpoint ...........................23
S.C. Counties narrow list of ARPA projects By Molly Hulsey
B
mhulsey@scbiznews.com
eating out Charleston and Richland counties, Greenville took the lead for ARPA funding allocations in 2021 with nearly $101.7 million. The competition wasn’t even close with Richland County trailing behind at $80,756,312 in American Rescue Plan Act funds and Charleston County coming in a close third at $79,910,793, according to the
U.S. Treasury Department. Spartanburg County was also in the running for the top five highest ARPA budgets at $62,114,487, just behind Horry County at $68,776,083. Here’s where the GSA plans to spend that money:
Greenville County: $101,691,896
Greenville County estimated that its revenue took a hit of close to $31.4 million since the beginning of the COVID-19 pandemic until Aug. 31 of last year.
As a result, the largest slice of the $101 million allocated to the county will go toward the county’s general fund as revenue replacement, which can be used at the county’s discretion, according to county spokesman Bob Mihalic. Earlier this year, Mihalic said that number would add up to around $32 million, followed by $10 million for affordable housing. Conversations with and interviews of community partners were underway to determine other
In Focus
See ARPA, Page 6
RIDING A WAVE OF HIGH DEMAND Surge in watercraft sales challenges S.C. boating industry
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The chips are down
S.C. auto makers brace for ongoing shortage as Ukrainian conflict builds Page 13
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LOWCOUNTRY NEWSROOM Editor, Custom Publishing Division Steve McDaniel smcdaniel@scbiznews.com • 843.849.3123 Associate Editor - Teri Errico Griffis tgriffis@scbiznews.com • 843.849.3144 Research Specialist - Paige Wills pwills@scbiznews.com • 843.849.3125 News Editor - Alexandria Ng ang@scbiznews.com • 843.849.3124 Digital Editor - Robi Lyle rlyle@scbiznews.com • 843.849.3119 MIDLANDS NEWSROOM Editor - Melinda Waldrop mwaldrop@scbiznews.com • 803.726.7542 UPSTATE NEWSROOM Editor - Ross Norton rnorton@scbiznews.com • 864.720.1222 Associate Editor, Custom Publishing Division Jim Tatum jtatum@scbiznews.com • 864.720.2269 Staff Writer - Molly Hulsey mhulsey@scbiznews.com • 864.720.1223 LOWCOUNTRY ACCOUNT EXECUTIVES Multimedia Account Executive Amanda Alford aalford@bridgetowermedia.com • 843.849.3109 Multimedia Account Executive - Jim Wheeler jwheeler@scbiznews.com • 843.849.3104
April 18-May 1, 2022
Small Business Spotlight BOB COOK AND CRIS MILLER, BURNT AND SALTY
ABOUT OUR COMPANY:
Bob and Cris materialized their dream in 2015, launching Burnt and Salty. They create chef-inspired, versatile condiments with exciting, unique flavors. Bob’s cuisine always has a cult-like following, so why not give fans a little of Bob Cook at home? Made in small batches right here in the Lowcountry, our line of curiously delicious condiments include flagship Korean Mustard, Spicy Korean Mustard, Coconut Suka, Thai-Style Chili Glaze and Zesty Cocktail Sauce. Burnt and Salty is proudly a woman- and veteran-owned small business.
OUR BUSINESS MODEL:
Be cool. Commit to quality. Provide unique experiences. Grow slowly. Contribute to diversifying condiments, locally and beyond. Introduce everyone to fun new concepts in condiments.
OUR CUSTOMERS:
Our vanguard customers are original fans of Bob’s cuisine. Since then, we have traveled across the country using various markets and trade shows to share our flavors with food lovers and chefs alike. From picky eaters to adventurous palates to professional chef, our versatile products offer something for everyone. Don’t cook? Use our Chili Glaze as a dipping sauce. Experienced chef? Incorporate Coconut Suka into your cuisine. Need a gift? Unique food gifts are always appreciated. We are honored and humbled by the feedback we get from our fans; our customers are the muse for our continued creativity.
South Carolina’s Media Engine for Economic Growth
Location: Group Publisher - Rick Jenkins rjenkins@scbiznews.com • 864.720.1224
Mount Pleasant
Director of Advertising - Robert Reilly rreilly@scbiznews.com • 843.849.3107
Year established:
Number of employees:
2015
2
MISSION: Share our love for condiments that combine familiar and novel ingredients creating deliciousness for the people.
Events Account Executive - Melissa Tomberg mtomberg@scbiznews.com • 864.720.1220 Events Manager - Kim McManus kmcmanus@scbiznews.com • 843.849.3116 Accounting ar@bridgetowermedia.com Subscription Services service@bridgetowermedia.com • 877.615.9536 CUSTOM MEDIA DIVISION Director of Business Development Mark Wright mwright@scbiznews.com • 843.849.3143 Director of Research Operations - Ryan Wilcox rwilcox@bridgetowermedia.com • 843.849.3117
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Business A business with so much bandwidth it transfers enormous files for fun. AT&T Business Fiber now with Hyper-Gig speeds. Fast internet with the security and reliability you need to make large file transfers a breeze. Learn more at att.com/businessfast or call 1.844.740.FAST
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April 18-May 1, 2022
Boating company expansion to bring 75 jobs to Dorchester County By Teri Errico Griffis
A
tgriffis@scbiznews.com
s coastal residents start to take to the water once again for the spring, Sportsman Boats Manufacturing Inc. is expanding to provide even more products for aquatic lovers. The family-owned and -operated maker of saltwater, center-console fishing boats is investing $8 million to expand its Dorchester County operations and create 75 jobs. The expansion will help increase Sportsman Boats’ manufacturing capacity amid continued growing demands in the boating market, the company said in a news release. Sportsman Boats President Tommy Hancock said the company has grown “tremendously” since opening as a startup in Summerville in 2012. “A big part of that success has been made possible by the support of Dorchester County and the world-class labor force available in this area,” Hancock said in a statement. “We have a great future ahead of us for our brand, our family of employees and our manufacturing facility. Our expansion sets that plan in motion and further solidifies our future.” Sportsman Boats’ new Summerville expansion plan includes a 75,000-squarefoot climate-controlled building that
An employee at Sportsman Boats in Summerville welds an aluminum T-top for a center-console fishing boat. (Photo/Provided)
will allow the company to manufacture small fiberglass parts and powder coating. Plans also call for a new parking lot for employees and extra parking for the company’s boat transportation fleet, the company said. “Expansions are always exciting, but
CRBJ
Reach Teri Errico Griffis at 843-849-3144.
Grow your Future in AG
has the business-friendly environment and talented workforce where companies find success.” The company’s facility is located at 113 Sportsman Way.
today’s announcement by Sportsman Boats Manufacturing Inc. is particularly special because they began their manufacturing operation in South Carolina as a start-up company,” Gov. Henry McMaster said in a statement. “Their growth is further testament that South Carolina
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$101 million allocated to South Carolina capital fund By Molly Hulsey
S
mhulsey@scbiznews.com
outh Carolina venture capital and small business loan programs will soon be able to take advantage of more than $101 million in American Rescue Plan Act funding earmarked for the state, according to Sen. Tim Scott’s Deputy Legislative Assistant Luis Reyes. The capital is a portion of the $10 billion in State Small Business Credit Initiative funding provided to states, the District of Columbia, U.S. territories and tribal governments when ARPA was signed into law on March 11, 2021. The SSBCI program first commenced in 2010 and ran until 2017, during which the Council of Development Finance Agencies called it “one of the most successful federal programs to expand access-to-capital delivery mechanisms at the time.” It deployed $1.4 billion in funding to more than 16,900 small businesses. After a fouryear hiatus, ARPA brought the program back to life. According to Reyes, the revitalized version of the program, like its predecessor, will target venture capital, capital access, loan participation and loan guarantee programs, as well as collateral support initiatives run by governments, financial institutions and community or economic development organizations. Loan participation programs allow public entities to buy an interest in a loan or to lend to small businesses alongside private entities. Loan guaran- tee programs enable public entities to use SSBCI funding to back-up lenders with at least half of a what’s owed them in case a borrower defaults, according the to the U.S. Treasury Department. Capital access programs differ from the other capital offerings by supplementing a loan loss reserve fund for both the lender and borrower with SSBCI funds. States submitted application forms for candidate programs to the U.S. Treasury Department on Feb. 11, and the U.S. Treasury extended the application deadline to May 11 for tribal governments such as Rock Hill’s Catawba Nation. All jurisdictions, barring tribal governments, must submit applications for technical assistance to the Treasury Department on June 30, but, as of publication, guidance for the application had not yet been posted on the U.S. Treasury website – still the best source of information for the SSBCI, according to Reyes. “They do provide a lot of helpful resources that break this down,” he told credit union and community development representatives present at Ten at the
Top’s Upstate Entrepreneur Ecosystem meeting on March 16. According to the site, about $56 million in SSBCI funding will go towards South Carolina’s Main Capital fund, $4 million toward micro-business capital and $26 million in capital for businesses that are privately owned by socially or economically disadvantages individuals, called “SEDI businesses” by the Treasury Department. The state will have initial access to $14 million.
As of March 3, the Treasury Department began collecting demographic data from participating jurisdictions on small business owners’ race, ethnicity, sexual orientation and gender identity to measure the impact of the program on SEDI enterprises. “The State Small Business Credit Initiative program’s design is intended to help remedy the unfortunate reality that underserved communities have historically faced greater barriers to accessing capital than others, preventing them
from pursuing their business ideas and ambitions,” U.S. Treasury Deputy Secretary Wally Adeyemo said in a news release. “This new reporting will give Treasury the information we need to assess the impact of this program in communities across the country and work to provide these communities with the capital they need to realize their entrepreneurial visions.” CRBJ
Reach Molly Hulsey at 864-720-1223.
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April 18-May 1, 2022
BOEING, from Page 1
and tours of Boeing facilities. In response to the COVID-19 pandemic, the program also added a virtual learning component in 2020, which has expanded its reach to all 46 counties in South Carolina and beyond. At Boeing’s one-millionth student celebration, fifth-grade classes were able to sit alongside elected officials and representatives from Boeing and the school district to participate in a paper-plane-folding activity. Individuals had the opportunity to try to fold the best plane and to make it soar the furthest down the school hallways. For 10-year-old Tae-Sean Miller, this is the fuel behind his future ambitions as an engineer who builds rockets. “We got to go to a military base; we got to learn about robotics and programming machines, and about the inside of how to build planes,” Miller said. “When you have the small pieces and you put them together, it’s just so satisfying.” While at the April 6 event, other students chatted excitedly about additional program offerings, like learning to code an avatar, building drones and taking plane rides with the Tuskegee airmen. Eleven-year-old Shaniya Howell wants to become an artist when she grows up, and found she really enjoyed learning about airplane parts because her grandmother works at Boeing. “It’s just interesting to know what kinds of materials they use to not drag the planes down because I like the science behind it,” she said. In addition to students and community officials, Boeing teammate volunteers also were present at the North Charleston event. As part of the program, these volunteers regularly visit schools and community groups to bring STEM resources to students across the state. Since the program’s inception 10 years ago, more than 7,600 teammates have volunteered at almost 4,000 education-relat-
Elected officials and Boeing representatives participated in a STEM-based paper airplane activity at the celebration of one million participants in the DreamLearners program on April 6. (Photo/Alexandria Ng)
Fifth-grader Tae-Sean Miller said he wants to be an engineer when he’s older and that his class’s participation in DreamLearners has allowed him opportunities to build drones and robotics. (Photo/Alexandria Ng)
ed engagements. “Volunteering with DreamLearners means having the opportunity to sow seeds of aspiration in the minds of the future youth,” said Tiffania Ham Fayall, a
Boeing South Carolina Quality teammate and DreamLearners volunteer. “I believe through community service I can connect with at least one child, teen or adult, sharing the importance of STEM
education and desired skills needed in careers.” DreamLearners was developed and continues to be led by Frank Hatten, Boeing South Carolina’s education relations specialist. Boeing has also partnered with the S.C. Department of Commerce and its Regional Workforce Advisors, who help coordinate Boeing’s grassroots outreach efforts across the state. As part of the Boeing Days initiative, the DreamLearners program visits schools in every county throughout the year. With its close proximity to Boeing South Carolina’s Airport Campus, North Charleston Elementary School has been a key partner in hosting DreamLearners engagements for several years. The school is also part of the Liberty Hill STEM Collaborative, an initiative supported by Boeing, Charleston County School District, Coastal Community Foundation and the Charity Foundation, which aims to prepare students for jobs in the local aerospace industry. CRBJ
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April 18-May 1, 2022
By Teri Errico Griffis
home right away. For sellers, cash continues to win out as shoppers are still paying well above asking price to beat out the competition, Turner said. She’s currently working with a pair of first-time homebuyers with a healthy budget who can’t catch a break, even when they’ve taken all the right steps. “We put an offer in on a house in West Ashley. It was listed at $550,000 and we went up $100,000 over and my clients lost it because they had a few offers over $700,000,” she said. “That’s a 30% over the list house bid.” Another house on James Island garnered 24 offers in a day. Page said part of the problem is that current homeowners aren’t interested in selling because they have nowhere to go.
4 strong trends in the Charleston real estate market
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tgriffis@scbiznews.com
aison Real Estate had its best year in company history last year with $188,420,494 in closed sales — and 2022 is already shaping up to be even better in spite of less houses coming on the Charleston County market. The inventory for single-family detached homes in the area has decreased by 53.2% from 741 in February 2021 to 347 in 2022, the company said. Area 51, the area south of the Crosstown in downtown Charleston, is seeing a 76.6% decrease year-over-year. But for Maison Real Estate’s three co-founders, what’s even more challenging is that homes are being snapped quicker than ever, with an average of 25 days on the market between January and mid-March. The time frame is half of the then-surprising 50-day average this time last year. “We’re seeing more full-time buyers than ever coming to Charleston, full-time residents with children moving downtown,” said co-founder Mary Lou Wertz. Families are mostly moving from New England, Chicago and Ohio, as well as drive-to markets like Atlanta and Charlotte, co-founder Leslie Turner said. Vacation home purchases have leveled off, but homes with outdoor living spaces and friendly work-from-home environments remain consistent priorities among all buyers. “We didn’t really lock down that much during COVID and our schools remained open,” Turner said. “COVID’s permanently changed the way people work and want to live, so they’re choosing to live the Charleston lifestyle.” One family co-founder Olga Page is working with was so eager to move to Charleston from Massachusetts that the clients enrolled their four children in school first and searched for a home after. Daniel Island and Sullivan’s Island are on fire with people seeking idyllic coastal
4 Battery Place in downtown Charleston is a three-bedroom, three-and-a-half bathroom home built in 1970. The house is listed at $3.2 million. (Photo/Ellis Creek)
homes, the founders said, but downtown Charleston and Mount Pleasant are also hotspots for clients. Home buyers also are snatching up next-door properties to use as home offices, spare guest space or rental properties as the market continues to heat up. The issue now seems to be more one of demand than an inventory problem, Turner said. While there are homes for sale, they go quickly as buyers continue to flood into the region each day. When making an offer, Turner said cash is still king and selling homes fully furnished is a quick solution to enjoying a home sooner and avoiding today’s supply chain issues. The latter trend is especially rising in the luxury market, where furnishings have already been selected by interior designers and customized for size and scale of homes. “I have a listing right now at 4 Battery Place that’s under contract and it’s being sold fully furnished, down to the pots and pans,” Turner said. For rentals, it’s not uncommon for buyers to want to purchase a home fully furnished so they can start rental income right away, but purchasing fully furnished
The Battery Place house is one of several homes that Maison Real Estate has sold fully furnished. (Photo/Ellis Creek)
for a primary residence is newer to the pandemic. “This is appealing to buyers due to current supply shortages and shipping delays, as it provides them with furniture right away if waiting on their long-term pieces, saves on moving costs, and is ideal for those purchasing a vacation home or investment property,” Turner said. Buyers can then bring a suitcase and toothbrush and begin enjoying their new
Any profits they realize on the sale of the property is lost or absorbed into a new purchase right now, with home sales up 28.4% compared to last year and a median price of $495,000, according to Redfin. “Until we can absorb all of the buyers, the market’s not going to level off any time soon,” Turner said. “And it’s going to take a while to absorb all of these buyers.” CRBJ
Reach Teri Errico Griffis at 843-849-3144.
BMW, Mercedes supplier prepares for Volvo line By Molly Hulsey
C
mhulsey@scbiznews.com
anadian intelligent mirror manufacturer Magna International opened the doors to its sixth Palmetto State site today: a new 170,000-square-foot facility in Duncan. The facility, roughly the same size as the company’s former Greer location, produces exterior mirror systems for BMW, Mercedes and soon, Volvo, according to a news release. Production has started with roughly 255 employees but is expected to grow to
approximately 400 jobs over the next few years. “The launch of this facility shows our commitment to providing our employees with modern amenities and our customers with world class manufacturing,” John O’Hara, president of Magna Mechatronics, Mirrors and Lighting, said in the release. “With our highly qualified workforce, we are dedicated to supplying feature-rich exterior mirror systems to our global customers.” The plant’s current production volume is approximately 1.6 million mirrors per year and will add the launch of the Exfin-
ity mirror to be used by Volvo to its production portfolio by early 2023. The mirror will be a first-to-market technology in North America, according to the release. “Magna continues to grow their footprint in South Carolina, and today’s grand opening of their newest facility is further proof that South Carolina is an ideal location for companies to find sustained success,” Gov. Henry McMaster said in the release. “Magna is an exemplary partner to our state and our workforce, and we congratulate them on this new state-ofthe-art operation.” Sustainability was a key focus when
designing the facility, according to the company. Energy optimization and control systems were implemented to minimize overall consumption and help reduce carbon footprint. The facility also features several employee-centric amenities including a wellness room, fitness center, canteen with adjacent patio and gaming area, vegetable garden and a solar-lit walking trail. A dedicated truck entrance also exists for increased safety, and clerestory windows to maximize natural light in the work environment. CRBJ
Reach Molly Hulsey at 864-720-1223.
April 18-May 1, 2022
www.charlestonbusiness.com 11
$45M in improvements slated for Park Circle playground By Jenny Peterson Contributing Writer
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he city of North Charleston will spend $45 million to improve recreational areas in Park Circle, including $20 million to redevelop the interior of a large traffic circle that ushers drivers into the area. Plans include replacing the Felix C. Davis community center, enhancing existing greenspace and adding a new inclusive ballfield and playground. The playground will have special safety considerations like ramps and other elements designed to enable children of all abilities to participate, no matter their physical, cognitive, social or emotional development. It will be the city’s second inclusive playground. Outside the circle, an additional $25 million will go toward replacing the decades-old Danny Jones Recreation Center, located less than a mile away, according to Ryan Johnson, economic development and public relations with the city of North Charleston. Plans there call for replacing the existing pool facilities with a new indoor aquatic center. Work is expected to be completed
within the next two years, Johnson said. Funding for the project will come from tax increment financing and revenue bonds through the Noisette off-base Tax Increment Financing District. Right now, the interior of the Park Circle traffic circle houses two baseball fields, the Felix C. Davis community center, butterfly garden and green space. “The city has always wanted to make it a more active space than what it is now,” Johnson said. “The goal is to make it more of a place where families and kids go all the time, not just when there’s an event like a baseball game or a community meeting. There’s talks about putting in a shed that the farmer’s market can go under.” “(It will be a) huge community improvement,” Johnson added. “I call it a ‘reimagining’ of Park Circle because it will be added amenities and everything will be enhanced inside the circle.” North Charleston Mayor Keith Summey touted the plans for the interior of Park Circle during his 2022 State of the City address in January. “Standing today is a building with much community significance and grounds where many have attended events and participated in athletics,” Summey said. “Our vision is a new
state-of-the-art community and cultural center designed for the next 50 years. A Miracle League field and large all-inclusive playground with accessibility for everyone and modern parks and outdoor spaces suitable for hosting markets and civic celebrations.” Construction of the interior of the circle will occur concurrently, Johnson said. A ribbon cutting was held in mid-April for the city’s first inclusive playground in the Oak Terrace Preserve neighborhood adjacent to the North Charleston Creative Arts Elementary school. Developed by Charlotte-based Cunningham Recreation, the Oak Terrace Preserve playground has wide ramps leading onto playground equipment for wheelchairs, musical instruments like drums, a tandem swing for an adult and child to use together and several sun shades. That playground was recently named a National Demonstration Site by the PlayCore Center for Outreach, Research and Education, a research company specializing in recreation areas. The group will collect data from the playground to conduct research on its community impact. In addition to the recognition, the city received matching grant funding for
up to 50 percent of the cost of the playground structure — currently estimated at $140,000 in grant funds, according to the city. The city of North Charleston stated on its website that the Oak Terrace Preserve playground will serve as “a blueprint for other playground designs.” Johnson said the price of the playground goes up significantly when adding inclusive amenities. “The surface is quite expensive, as you’re putting a soft, kid-friendly surface there and it just all adds up. Unfortunately, these things aren’t cheap,” Johnson said. “You can get a wheelchair up there, it’s got roller slides. It’s got sensory things for people or kids with autism. It takes into account sensory things, needs for people with physical and mental disabilities and tries to (offer) some type of normalcy and play for everyone. That’s the inclusive model.” Johnson said a lot of stakeholders were involved in choosing interior amenities. “It was a team effort with staff, council and the community,” Johnson said. “I think if you visit the Oak Terrace Preserve inclusive playground, you’ll see kids are out there all the time and you can see it’s well worth the investment.” CRBJ
SCMA honors sector leaders with ‘Defender of Manufacturing’ award By Molly Hulsey
mhulsey@scbiznews.com
M
anufacturers Alliance Executive Committee recognized two industry leaders from the public and private sector at a celebratory dinner at the Greenville’s Poinsett Club on March 31. At the event, Dirk Pieper, president and CEO of Sage Automotive Interiors, and Gov. Henry McMaster were both recognized for their role in advancing the state’s manufacturing industry with the 2022 Roger Milliken Defender of Manufacturing Award, according to a news release. “The manufacturing industry, in South Carolina and throughout the United States, creates generational opportunities that enhance our quality of life, strengthen communities, and grows our economy,” April Allen, chair of the S.C. Manufacturers Alliance and director of U.S. government relations of Continental, aid in the news release. “That’s why we honor the individuals who have made extraordinary contributions for enhancing this industry with the SCMA’s most prestigious award. Their work and dedication in strengthening manufacturing will have a meaningful and lasting impact.” Pieper was named president and CEO of Sage at the auto supplier’s inception in 2009 after Pieper served Milliken & Co. as director of manufacturing, managing director of European operations and
Sara Hazzard, president and CEO of the S.C. Manufacturers Alliance, and April Allen (far right), chair of the S.C. Manufacturers Alliance and director of U.S. Government Relations with Continental, present an award to Gov. Henry McMaster and Dirk Pieper, president and CEO of Sage Automotive Interiors. (Photo/Devin Steele)
global business manager. He graduated from Washington and Lee University with a Bachelor of Science in chemistry and received an MBA from Clemson University in 1990. “Throughout my career in manufacturing, I have seen firsthand the life-changing opportunities and impact this industry creates,” Pieper said in the news release. “Great jobs, community involvement and innovation that literally creates the future are just some of the hallmarks that makes American manufacturing so special. This is why we work every day to ensure man-
ufacturers have the best environment possible, so businesses can thrive, and our workforce can be successful. It is an honor to have been a part of the process to make South Carolina such a great place for industry to prosper.” McMaster became the 117th governor of South Carolina on Jan. 24, 2017, following former Gov. Nikki Haley’s appointment as U.S. ambassador to the United Nations. He was elected to a full term as governor in November 2018. Since he has been in office, the state announced more than 61,000 new jobs and $18 bil-
lion in new capital investment in the state, according to the release. “The success of our manufacturing industry has helped lead South Carolina to new heights and record-breaking economic growth,” McMaster said in the release. “The industry has played a key role in transforming our economy, our communities and making South Carolina a manufacturing powerhouse. We are committed to providing our manufacturers with a competitive business environment that allows for them and South Carolina to prosper.” CRBJ
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Credit One Bank has committed to being the title sponsor for the Credit One Charleston Open for the next five years. (Photo/Teri Errico Griffis)
Daniel Island serves up new tennis stadium By Teri Errico Griffis
A
tgriffis@scbiznews.com
t the end of March, it was hard to believe renovations to the Credit One Stadium would be ready in time for the Credit One Charleston Open. Bob Moran, president of Charleston Tennis LLC, laughed at the idea, though. As the man in charge of all stadium operations, he had big plans and had no doubt they would happen on time for the tournament. With 90% of the project completed, all that remained were finishing touches like landscaping, erecting temporary stands and tents, smoothing out a new back entrance for the stadium and bringing furniture inside to VIP rooms. “It’ll be a completely different look,” Moran said. For two years, the stadium has been closed for extensive renovations fol-
lowing a $50 million investment from Charleston Open owner and local billionaire and philanthropist Ben Navarro. The construction combined with the looming pandemic forced last year’s then-Volvo Car Open to take place in a temporary stadium to zero capacity. This year, from April 2-10, the new stadium welcomed fans and more than 100 of the greatest female players from around the world to serve in the Women’s Tennis Association tournament, for which Credit One Bank is the title sponsor. On April 10, Belinda Bencic of Switzerland won the women’s singles division, while Magda Linette, from Poland, and Andreja Klepac, representing Slovenia, ruled the doubles tournament. Headquartered in Las Vegas and affiliated with Sherman Financial in Charleston, Credit One Bank has a large card member base in the Southeast. Increasing national branding as a title sponsor
of the tournament was one of the biggest driving factors for getting involved, said Michael Norris, head of sponsorships for Credit One Bank. “We want to be here for a long time, and with this new facility there’s going to be a lot of entertainment to go along with women’s tennis, so I think there’s a lot of ways for our brand to activate in the area for years to come,” Norris said. Credit One Bank first collaborated with the Charleston tennis scene in 2020 for the Credit One Invitational, a tournament that raised funds for health care workers in the area. The event also served as the Credit One’s entry into the tennis market. The financial company donated some of the proceeds to Medical University of South Carolina and other local hospitals and hospital groups. “We saw great success in that tourSee TENNIS, Page 15
Atlantic on Romney 550 Romney St. Developer/owner: Middle Street Partners, Charleston Architect(s): Sottile & Sottile, Savannah; Humphrey & Partners Architects, Maitland, Fla. General contractor: JE Dunn Construction, North Charleston Engineers(s): Jordan & Skala Engineering, Norcross, Ga. (mechanical, electrical, plumbing); Ellinwood & Machado, Atlanta, Ga. (structural); Sitecast, Mount Pleasant (civil); Remark, Charleston (landscape design); Shah, Savannah (interior design) Estimated completion date: April 2023 Estimated total cost: $81 million Atlantic on Romney is a 450,000-squarefoot, 304-unit, nine-story apartment building located on the Upper Peninsula. This concrete structure includes seven levels of apartments, two levels of parking, retail space and leasing offices on the first floor. Amenities include a fitness gym, club room, deck with heated pool and outdoor spaces. It also has rooftop solar panels, electric-vehicle chargers and several other sustainable components. See CUC, Page 20
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New Summerville medical center among recommendations By Jenny Peterson
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Contributing Writer
ith an expected 15% increase in military veterans moving into Dorchester County during the next ten years, the S.C. Department of Veterans Affairs has recommended building a new Veterans Medical Center in the Summerville area. The department’s report, released in March, also recommends adding a new bed tower at the existing Ralph H. Johnson VA Medical Center on Bee Street downtown. President Joe Biden is expected to receive final recommendations in about a year to sign off on plans. Following a design process and bids for construction, completion is expected within 10 years, according to Scott Isaacks, director and CEO of the Ralph H. Johnson VA Health Care System. Creating a dual hospital health care system is a major step in increasing health care services for veterans in the Charleston area. Over the next 10 years, the Charleston VA Health Care System is slated to be the third-fastest growing VA in the country, Isaacks said. Built in 1965, the Ralph H. Johnson Medical Center is bursting at the seams, Isaacks said. “We have, right now, about a millionsquare-foot deficit,” said Isaacks. “We do not have a spare broom closet around here.” The Charleston VA Medical Center currently has 35,562 enrollees who live within a 60-minute drive time, according to the report. Enrollees in Dorchester County are projected to increase by approximately 1,500 patients by the year 2029. The report recommends that the pro-
The Ralph H. Johnson Medical Center sits in downtown Charleston’s medical district. (Photo/Provided)
posed Summerville VA Medical Center handle long-term services, primary care, outpatient mental health care and outpatient specialty care services. It would also add residential rehabilitation treatment programs, including substance use disorder and post-traumatic stress disorder. “If everything is approved, we’re talking about a lot of additional staff that would be added,” Isaacks said. For the bed tower addition at the downtown location, Isaacks said initial recommendations are to build a seven or eight-story tower, possibly in the parking area in front of the existing facility or physically connect with the Medical University of South Carolina in a building off Bee Street. Renovations to the existing VA Medical Center facility are also planned, Isaacks said. “Summerville would be the hospital for the less-acute needs, and then our downtown hospital would be for the more
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emergency or complex medical needs,” Isaacks said. He said supported a new Summerville location. “We’re constantly looking at where our veterans live and where they buy houses. With our veterans moving in and where they are in terms of socioeconomics and demographics, (veterans) who move to Charleston are moving to Summerville and West Ashley,” Isaacks said. “We want to get care out to where our veterans live. We knew that this was where we needed to be, and I’m glad that this (report’s) market assessment showed that as well.” The Charleston VA improvements are part of a $1 billion recommended investment in improving veterans health care services across the Southeast Coast from Florida to South Carolina, Isaacks said. Recommendations in the report for the South Carolina market include adding a new outpatient services site in George-
town, a new stand-alone residential rehabilitation treatment program in Richland County, a new community-based outpatient clinic in Clinton and expanded services in Myrtle Beach. Statewide, enrollees in the South Carolina market are projected to increase by 13% to 234,777 total veterans between 2019 and 2029, according to the report. The report also recommends realigning three Savannah-area counties’ VA health care needs into the South Carolina market. As the recommendation plans await approvals at the federal level, the Charleston VA Medical Center is continuing to add health care services for veterans, including a recent approval to perform transplant services. “There are just a handful of VAs that have the quality of care and the clinical expertise to do (transplants),” said Isaacks. A new parking deck to serve the downtown facility will be built in the next year, Isaacks said. “Outside of these (recommendations), which will take, seven, eight, nine years for some of this to unfold, we’re not going to just be sitting here; we are going to be improving,” Isaacks said. He said the move to add more space can’t come soon enough. “Our one constraint here has been space,” Isaacks said. “Absolutely, we are out of space, and we really need the changes that are being proposed in the reports. My stance has always been that our veterans have sacrificed in incredible ways and our role is to provide them the best of everything. Now that we’ve got these recommendations coming forward, that should give us the space that we need. “We get to do what we should do as a nation — take care of veterans at the highest level, and we are very excited about it.” CRBJ
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Fans escape the rain under a concessions tent during tournament play on April 7. (Photo/Teri Errico Griffis)
TENNIS, from Page 13
nament and Bob (Moran) actually approached us in regard to moving forward with being the title sponsor for the tournament this year,” Norris said. “We were thrilled.” Knowing the magnitude of the renovations and the investment put into the updates, Credit One was eager to make the annual women’s tennis tournament the company’s first title sponsorship. “What better way to do that in Charleston, you know? There’s such a great history in the tournament here,” Norris said. With upfits and renovations, the Daniel Island stadium has increased seating capacity from 7,000 to 11,000. The original bleachers remain, but 16 permanent hospitality suites ranging from 20 to 30 people have been added. Guests can enjoy fully conditioned private rooms, complete with kitchens and bathrooms, that open to private patios and open views of the court. The stadium now offers 137% more restrooms, pushed toward the outside for easier access, and has more dining options from local eateries like Swig & Swine BBQ, Mac & Sweets and Orlando’s Pizza. A new Wando Entrance connects a path to the docks in front of King Tide and the Yacht Club. The Daniel Island boat shuttle will run back and forth from the landing, a 700-yard walk to the front gate. To offer even more convenience for patrons, the Credit One Stadium is also a fully card and mobile payment venue with reverse ATMs located throughout the stadium’s concourse level. Behind the courts, a newly built 35,000-square-foot stage house offers VIP guests, athletes and entertainers a private experience with anything they could need, including a private dining area, lounge and golf simulator. The House also offers a gym, plenty of televisions to watch live action, training rooms, a large media room to allow press members their own space for a day of coverage, a commercial kitchen for vendors to make meals on-site and so much more. “I guarantee we missed a bunch, but at the same time, you do the best you can and learn as you go,” Moran said. For musicians, the original stadium wasn’t user-friendly for unpacking gear
and loading it onto the stage, Moran said, but the new building answers that issue. Trucks can now drive into two loading docks and unload equipment. Handlers can then roll gear straight onto the stage or into the stage house with freight elevators and storage. Norris has been in close contact with Moran, Navarro and his wife, Kelly Navarro, over the last year as renovations have been going on. “It’s been amazing,” Norris said. “I was here in July, and all that was up was a frame. There was dirt everywhere. So to kind of see all the different milestones in the construction process and then see it all come to life for the tournament – the grand lawn tent go up and obviously our logo on the side of the stadium – it’s been exciting.” The Credit One Stadium is host to the one major tennis tournament each year, but Moran said he is always looking for other opportunities that would allow Charleston Tennis LLC to be a good WTA partner. He’s also hoping to branch out with even more events at the venue as the world continues to open up since the height of the pandemic. “We’re a multi-use facility, but tennis is going to be the hub, and if there’s opportunity to do more tennis, we definitely will,” he said. Credit One Bank is committed to five years as a title sponsor of Charleston’s tennis tournament, and saw the draw that the area brings following the 2020 tournament. Even without fans in the stadium, the chatter around the community and the coverage from social media and media partners was a win for Credit One. This April, Credit One card members were invited to the tennis tournament to enjoy the weeklong event in the VIP room and lower-level seats on a firstcome, first-served basis. Norris said the company also is in the process of creating an expedited service line to get cardholders into the stadium quicker, as well as exclusive discounts for tickets and concessions. “There’s a very passionate fan base in Charleston, and we want to give them more of what they love,” he said. “That’s what our brand stands for. … We want to bring great entertainment. “We want to give these women tennis players a great facility to play at. So I don’t see this as a one-and-done deal for us at all.” CRBJ
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Mike Lee of Nucor Steel Berkeley accepts a trophy from S.C. Gov. Henry McMaster. (Photo/Melinda Waldrop)
Contest crowns ‘coolest’ SC-made product By Melinda Waldrop
A THE DUNLIN AT
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few days before the NCAA basketball tournament wrapped up in April, Manufacturing Madness crowned a state champion. Steel beat out three other contenders to be named “The Coolest Thing Made in SC,” with Nucor Steel Berkeley in Huger winning the inaugural statewide contest launched in February by the S.C. Manufacturers Alliance along with corporate partner Blue Cross Blue Shield of South Carolina. “We knew we wanted to celebrate the manufacturing industry in South Carolina. We’re always looking for new and creative and innovative ways to do that,” Sara Hazzard, president and CEO of SCMA, told the Columbia Regional Business Report. The organization asked the general public to suggest S.C.-made products for the honor and received 175 nominations, Hazzard said. Voting narrowed that field to a 16-competitor bracket, trimmed in half each week before the final four, honored in a ceremony at the S.C. Statehouse, were decided. More than 110,000 votes were cast on the contest website, scmanufacturingmadness.com, during the competition, Hazzard said. “We were blown away by the response. The general public really got excited about the contest,” she said. “The employees within each of the manufacturing companies that were participating got very excited about their product being nominated, their company being recognized. It made it really clear how proud South Carolina manufacturing workers are of what they do every day and the products that they make.” Mike Lee, vice president and general manager of Nucor Steel Berkeley, accepted the winner’s trophy from S.C. Gov. Henry McMaster and S.C. Secretary of
Commerce Harry Lightsey. “What a great idea to showcase what we do in our state,” Lee said. “There’s so many incredible things we make in South Carolina that nobody knew we ever did that not just impact South Carolina but impact our country and the world.” The other three finalists were: the Electrolux and Frigidaire single-door refrigerator and freezer, made by Electrolux Home Products in Anderson; the F-16 Fighting Falcon, made by Lockheed Martin in Greenville; and the Talon 1,000 X-4 side-by-side all-terrain vehicle, made by American Honda Motor Co. Inc. South Carolina Manufacturing in Timmonsville. “The four finalists are trendsetters,” Hazzard said in presenting the finalists, who each received a plaque from Lightsey. “They’re game-changers.” In operation since 1996, Nucor’s Huger facility makes sheet and steel beam products for industries including agriculture, automobile, appliance, construction, energy and transportation. It employs 975 people and is the state’s largest recycler, converting recycled steel scrap metal into 3.5 million tons of steel annually, Hazzard said. The Berkeley County plant’s greenhouse gas emissions are also less than half the average for all global steel manufacturers, according to SCMA. “South Carolina’s manufacturing industry is a leader for advancing prosperity and opportunities in every corner of the state,” said Michael Harris, vice president of sales for major group, chamber, associations and student health plans at BlueCross BlueShield of South Carolina. “What this industry does in our state is transformational not just economically but in giving paths for our citizens a better future that has generational impacts.” Lee said his facility’s product can be found coast to coast, from automobiles See COOLEST, Page 19
April 18-May 1, 2022
IN FOCUS: ARCHITECTURE, ENGINEERING AND CONSTRUCTION
COOLEST, from Page 18
Lockheed Martin’s Greenville facility, expanding from 850 to more than 1,000 employees by 2023, has been in operation since 1984, providing aircraft modification, maintenance and repair services for military and civil aircraft. Honda’s Timmonsville plant, open since 1997, employs more than 900 workers and produced three million ATVs in 2018, Hazzard said. “As manufacturing flourishes in South Carolina, so do the people,” McMaster said. “This kind of contest brings the kind of recognition that just makes us stop and think for a minute about what a great place this is.” It also illustrates the resiliency of the industry in the midst of ongoing, pandemic-related workforce complications, Hazzard said. “Manufacturing is thriving in South Carolina,” she said. “There are some headwinds and some challenges ... but manufacturing is resilient and very strong in South Carolina.”
manufactured by BMW at its Spartanburg plant to SoFi Stadium in Los Angeles, which played host to this year’s Super Bowl. “Our stainless steel products are in many of the amazing things that are made in this state and this country,” Lee said. “I thank everyone who participated in the Manufacturing Madness event, including all our Nucor teammates, because they are the ones who are making the coolest thing made in South Carolina day in and day out, day shift and night shift, 24 hours a day, seven days a week, and they’re doing it very, very safely.” Anderson’s Electrolux facility employs 2,000-plus workers and has produced more than 50 million refrigeration products since opening in 1988, Hazzard said. The 100-plus robots in its new refrigeration factories make it the most automated Electrolux factory in the world.
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Goose Creek hotel may be preemptive strike By Barry Waldman
W
Contributing Writer
ith help from the city of Goose Creek, a new 109-room Marriott-branded hotel is going up in the master-planned Carnes Crossroads community anticipating demand that may not now be there. An economic development expert says Marriott’s interest could be a pre-emptive strike against other hotel chains. The $15 million luxury SpringHill Suites hotel project is scheduled to break ground later this year with half-a-million dollars in federal grant money and waived city fees. It is being built by Clarendon Properties of Wilmington, N.C. Neither Clarendon, nor Carnes Crossroads, nor Marriott responded to repeated inquiries regarding the project. But Jerry Gordon, a fellow at the Riley Center for Livable Communities, and adjunct professor in the College of Charleston’s school of public administration, wondered whether the demand exists for a hotel in a community that is primarily residential. Most luxury hotels congregate around downtowns, attractions and airports, none of which describes the Carnes Crossroads development. Gordon, also former president of the Fairfax County Economic Development Authority in Virginia ,said the 50-bed Roper St. Francis Berkeley Hospital might provide the hotel with some overnight stays for family members of hospital patients, but Carnes Crossroads lacks the manufacturing or corporate offices that tend to attract large numbers of business travelers. Mayor Greg Habib has said the hotel fits into his growing city’s comprehensive plan to establish Carnes Crossroads
as a commercial node. He cited plans to include 1,500 square feet of office space at the hotel as an important community resource. Gordon says that kind of space is critical to hotel developments around residential communities. “If you build a hotel in order to drive demand it has to be valuable to a residential community,” he said. “That would include meeting space — places where they can attract smaller meetings and conventions, weddings, that sort of thing.” Habib has said at City Council meetings that he expects the hotel to serve as a catalyst to other commercial development in the area, but Gordon is dubious about that. Instead, he says, Marriott may be considering the site as a long-term investment that will take some years to pay off. “If Carnes has a plan in the future to be more than residential, then Marriott is taking the long view,” he said. “If Marriott doesn’t ultimately benefit, someone else might, so they’re planting a seed.” Marriott touts SpringHill Suites as the nation’s largest upmarket all-suites brand. SpringHill Suites properties serve the airport from Montague Avenue in North Charleston, and downtown Charleston from West Ashley on the marina, and from Mt. Pleasant near the Cooper River Bridge. The exact site of the new hotel in Carnes Crossroads has not yet been announced. The 2,300-acre mega-development included 480 homes at the end of 2021 with another 57 under construction and 42 more in the pipeline. It is expected to host 4,500 homes with 11,000 residents at full buildout by the end of the decade. The Goose Creek City Council estimates the project will generate $80,000 annually in taxes. CRBJ
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IN FOCUS: MANUFACTURING AND AUTOMOTIVE CHARLESTON UNDER CONSTRUCTION
April 18-May 1, 2022
Bowman Place — Building B 1561 Johnnie Dodds Blvd., Mount Pleasant Architect(s): LFK Architects, Mount Pleasant General contractor: Harbor Contracting, Mount Pleasant Engineers(s): Epic Engineering, Mount Pleasant (mechanical, engineering, plumbing); Hoyt and Berenyi, Mount Pleasant (civil); Powell Engineering, Mount Pleasant (structural) This project comprises of a new 8,500-square-foot shell building with brick masonry, Hardie siding and exposed steel elements. The building will have six suites for mixed use.
The Cape at Kiawah 5130 Southern Pines Lane, Johns Island Developer/owner: East West Partners, Charleston Architect(s): Hart Howerton, New York General contractor: Trident Builders, North Charleston Engineers(s): Crenshaw Consulting Engineers, Melbourne, Fla. (mechanical, electrical, plumbing); Thomas & Hutton, Mount Pleasant (civil); DeSimone Consulting Engineers, New York (structural); Kennon Williams Landscape Studio, Charlottesville, Va. (landscape); EPM, Raleigh (fire protection) Estimated completion date: Spring 2024 This luxury condominium project includes 78 beachfront units in six buildings. Also included is a three-structure beach club with a fitness and amenity center, bar and grill and guest cottages.
Credit One Stadium Renovation 161 Seven Farms Dr. Developer/owner: Charleston Tennis, Charleston Architect(s): LS3P, Charleston; Rossetti, Detroit, Mich. General contractor: Choate Construction, Mount Pleasant Engineers(s): DWG, Mount Pleasant (mechanical); Seamon Whiteside, Mount Pleasant (civil); Geiger Engineers, Suffern, NY (structural) Estimated completion date: Spring 2022 Stadium renovations comprise of a state-of-the-art stage house, suites, food and beverage concessions, new washrooms and additional vertical circulation. The centerpiece is the stage house, which includes a central commissary kitchen servicing all the suites, clubs and concessions and provides the infrastructure for open and live events.
Crosspoint IX — Elbit Systems of America 9028 Palmetto Commerce Parkway, Ladson Developer/owner: Childress Klein, Charlotte Architect(s): MCA Architecture, Greenville Project manager: Childress Klein, Charlotte General contractor: Choate Construction Co., Mount Pleasant Engineers(s): HLA, Charleston (civil, landscape); WGPM, Charlotte (structural); SteelFab, North Charleston (structural steel) Estimated completion date: Fourth quarter 2022 This project includes new construction and site work for an industrial building. The building will be slab-on-grade with tilt-wall construction. Exterior finishes include painted concrete with reveal patterns, thermoplastic polyolefin roofing, architectural spandrel glass and glass storefront entryways. Interior finishes include Class-A office space with meeting and conference rooms as well as technical, specialized shop space with a heavy-equipment crane system
Gulf Stream Construction Co. Warehouse/Office Renovation 1983 Technology Dr. Developer/owner: Gulf Stream Construction Co., Charleston Architect(s): Alan Jackson, Architect, Mount Pleasant General contractor: SouthCon Building Group, Mount Pleasant Engineers(s): Epic Engineering Solutions, Charleston (mechanical, electrical, plumbing); Tobias West Engineers, Mount Pleasant (structural, architecture and engineering services) Estimated completion date: May 17, 2022 This design-build project comprises the two-story build-out of the warehouse area in an existing office building to provide additional office spaces, restrooms, break rooms, and meeting space for the current occupant/owner.
April 18-May 1, 2022
CHARLESTON UNDER CONSTRUCTION
Pinewood Prep Athletic Facility 1114 Orangeburg Road, Summerville Developer/owner: Pinewood Preparatory School, Summerville Architect(s): McMillan Pazdan Smith Architecture, Charleston General contractor: Southeastern Construction Co., Summerville Engineers(s): GMK Associates, Columbia (mechanical, plumbing); Critical Systems Engineering, Mount Pleasant (electrical); ADC Engineering, Hanahan (civil, landscape, structural) Pinewood Prep’s Game On–Raising the Bar at Pinewood Campaign includes this new athletic facility, as well as a new synthetic-turf field for football, lacrosse and soccer. The 13,000-squarefoot athletic center will include LED lights and an audio system, a weight room, locker rooms, training facilities, restrooms, concessions and the second-story, multipurpose Endzone Club.
www.charlestonbusiness.com 21
Portside Distribution Center Beside I-26 in the Charleston Distribution Corridor Developer/owner: Randolph Development, Mount Pleasant Architect(s): McMillan Pazdan Smith Architecture, Charleston General contractor: Frampton Construction, Ladson Engineers(s): WGPM, Charlotte (structural) Estimated completion date: November 2022 Construction is underway on a flexible, 204,004-square-foot industrial building. This Class-A speculative facility is the second of two heavy industrial buildings at the Portside Distribution Center. It will be suitable for a variety of end-users, including logistics companies, aerospace and automotive suppliers, defense contractors, light manufacturers and last-mile distributors.
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April 18-May 1, 2022
CHARLESTON UNDER CONSTRUCTION
Project Precision Weber Boulevard, Ladson Developer/owner: Pattillo Industrial Real Estate, Atlanta Architect(s): Randall Paulson, Atlanta General contractor: Choate Construction, Mount Pleasant Engineers(s): Barrett Woodyard & Associates, Norcross, Ga. (mechanical, electrical, plumbing); Houston Engineering, Conyers, Ga. (civil); PES Structural Engineers, Atlanta (structural) Estimated completion date: Spring 2022 Project Precision consists of a 128,000-square-foot tilt-panel warehouse for a confidential tenant. Included are a 12,000-square-foot build-to-suit space, 12 dock positions and four drive-in overhead doors with a drive-in ramp.
St. Clare of Assisi Catholic Church 990 Etiwan Park St., Daniel Island Developer/owner: Roman Diocese of Charleston, Charleston Architect(s): Franck & Lohsen Architects, Washington, D.C.; Hord Architects, Memphis, Tenn. General contractor: Trident Construction, Charleston Engineers(s): OGCB, Memphis, Tenn. (mechanical, electrical, plumbing, and fire protection); Thomas & Hutton, Mount Pleasant (landscape and civil); Fowler Engineering, Hernando, Miss. (structural); Merck & Hill Consultants, Atlanta (acoustical) The inspiration for this 22,000-square-foot cathedral was the design of St. Clare’s Basilica, in Assisi, Italy. It is one of the most ornate buildings to be built in Charleston within the last 100 years. The church will include a 90-foot copper spire, two bell towers and 20-foot original stained-glass windows.
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CHARLESTON UNDER CONSTRUCTION
EXPERTISE THAT SPEAKS FOR ITSELF Coldwell Banker Commercial® professionals know what it takes to guide clients to satisfying outcomes with their real estate needs. With representation in primary, secondary, and tertiary markets, Coldwell Banker Commercial® professionals can support you to identify industrial, retail, office, agriculture or other types of properties or to market your property for sale or lease. Let the power of a global brand help you find what you’re looking for.
3506 W Montague Ave Suite 200 North Charleston, SC 29418 cbcatlantic.com | cbcretailatlantic.com
Sweetgrass Pharmacy Addition — Carolina Park 3485 Park Avenue Blvd., Mount Pleasant This project adds a 5,557-square-foot core-and-shell building to the existing two-story Sweetgrass Pharmacy for future tenant spaces.
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Landscape Architecture CHARLESTON 843.952.7817 WEB REMARKSTUDIOLLC.COM
Twin Star Home — Charleston Trade Center 423 Trade Center Pkwy., Summerville Developer/owner: The Keith Corp., Charlotte Architect(s): McMillan Pazdan Smith, Charleston General contractor: Frampton Construction, Ladson Engineers(s): Alliance Consulting Engineers, Charleston (civil); WGPM, Charlotte (structural) Estimated completion date: December 2021 Constructed of concrete tilt walls and a structural-steel frame, this 1,019,200-square-foot crossdocked facility has a 40-foot clear height, 120 dock doors and two drive-in doors. The site has 275 spaces for trailer parking and 474 spaces for cars. Frampton is completing an interior upfit for incoming tenant Twin Star Home, who will occupy the whole building.
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CHARLESTON UNDER CONSTRUCTION
Windsor Hill Apartments 8251 Windsor Hill Blvd., North Charleston Developer/owner: LIV Development, Birmingham, Ala. Architect(s): SGA|NW, Charlotte General contractor: W. M. Jordan Co., Wilmington, N.C. Engineers(s): VP Engineering, Charlotte (mechanical, electrical, plumbing); Thomas & Hutton, Mount Pleasant (civil); Darden Engineering, Mooresville, N.C. (structural); SGA|NW, Charlotte (landscape); Design South, Atlanta (interior design); Moisture Intrusion Solutions, Daytona Beach, Fla. (waterproofing consultant); Hecker Design, Birmingham, Ala. (accessibility consultant) Estimated completion date: March 2023 Estimated total cost: $42 million This apartment complex contains 20 structures, including 13 garden-style walk-up residential buildings, six garages and a clubhouse with pool and yoga lawn. There are eight unit types with one-, two-, and three-bedroom options. SGA|NW is providing the full architectural scope of schematic design, design development, construction documentation and construction administration, with team collaboration of structural and mechanical, electrical and plumbing engineering.
April 18-May 1, 2022
Pelican Bay Home Renovation 26 Pelican Reach, Isle of Palms Developer/owner: Town of Mount Pleasant Architect(s): TMD Architects, Mount Pleasant General contractor: CK Contracting, Mount Pleasant Engineer(s): JR Broadway Co., Mount Pleasant (structural) Estimated completion date: June 2022 Project description: This project modernizes a beach home originally built in 1988. By reorganizing the layout, an additional bedroom was added to the home. Liquid applied weatherproofing has recently been applied to help ensure a weathertight structure for years to come.
Eastport Distribution Center 240 Deming Way, Summerville Developer/owner: Dalfen Industrial, Dallas Architect(s): LS3P, Charleston General contractor: Evan General Contractors, Charleston Estimated completion date: November 2023 Project description: This project is a 229,840-square-foot, class-a spec building set to deliver Fall 2022.
125 Pitt Street 125 Pitt St., Mount Pleasant Architect(s): SMHa, Mount Pleasant General contractor: Moffly Construction, Awendaw Engineer(s): DWG Engineering, Mount Pleasant (mechanical, electrical, plumbing); Rickborn & Associates, Mount Pleasant (structural) Estimated completion date: 2023 Project description: This project involves rehabilitation and new construction on a historic commercial building, restoring the existing structure and correcting additions while maintaining the historic fabric and aesthetics of Mount Pleasant’s Old Village. The new use will be a sole proprietor interior design firm.
Uptown Parking Garage 5090 International Blvd.., North Charleston Developer/owner: SC North Charleston Uptown, LLC; North Charleston, SC Architect(s): Summit Design & Engineering Services, PLLC; Raleigh, NC General contractor: THS Constructors, Inc.; Greenville, SC Engineer(s): Reveer Group LLC, North Charleston (civil); MBA Engineers Inc., Birmingham, Ala. (structural); West Key Consulting Inc., Raleigh, N.C. (mechanical, plumbing); Electrical Design Consultants Inc., Augusta, Ga. (electrical) Estimated completion date: Third quarter 2022 Project description: This project consists of a three-story parking structure to support TopGolf and surrounding development.
April 18-May 1, 2022
www.charlestonbusiness.com 25
CHARLESTON UNDER CONSTRUCTION
Solis Nexton 6000 Front St., Summerville Developer/owner: Terwilliger Pappas Charlotte, N.C. Architect(s): Group 4, Jacksonville; Cline Design, Charlotte, N.C. General contractor: Summit Contracting Jacksonville, Fla. Engineer(s): Seamon Whiteside Associates, Mount Pleasant (civil, landscaping) Estimated completion date: Fall 2022 Project description: This development features one-, two- and three-bedroom apartment homes located in nine three-and four-story buildings. Each apartment will feature spacious floorplans, granite countertops, stainless steel appliances and walk-in closets. The 11-acre community is located within walking distance to Nexton Square and will offer a resort-style pool, dog park, pet spa, entertainment lounge, fitness center and private yoga/spin studio, electric car charging stations and a community pocket park.
US 17 Spring/Fishburne Drainage Improvements, Phase 4 Wetwell & Outfall 135 Lockwood Blvd., Charleston Developer/owner: City of Charleston Architect(s): Davis & Floyd Inc., Charleston General contractor: Conti Enterprises Inc., Edison, N.J. Engineer(s): Davis & Floyd Inc., Charleston Estimated completion date: August 2022 Estimated total cost of project: $53 Million Project description: This project is a major tunnel and pump station program designed to alleviate flooding within the Spring and Fishburne Drainage Basins. In phase 4 of the project, the construction team is building a wetwell for large stormwater pumps and a triple box culvert outfall into the Ashley River. This structure will ultimately house three 66” diesel pumps that will be installed in the project’s fifth stage.
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April 18-May 1, 2022
Landscape Architecture Firms
Ranked by No. of Registered Landscape Architects in the Charleston Area Company
Phone / Website / Email
Top Local Official(s) / Year Founded
Landscape Architects / % of Business
Thomas & Hutton 682 Johnnie Dodds Blvd., Suite 100 Mount Pleasant, SC 29464
843-849-0200 www.tandh.com info@tandh.com
Ryan P. Thompson, Chris Magaldi, Tony Woody 1946
8 20%
Urban design, resilience planning, concept and theme development, design development, hardscape and plantings design, streetscapes, civic spaces
SeamonWhiteside 501 Wando Park Blvd., Suite 200 Mount Pleasant, SC 29464
843-884-1667 www.seamonwhiteside.com contact@seamonwhiteside.com
Jason Munday, Gary Collins 1985
7 40%
Land planning, civil engineering, landscape architecture, permit coordination, construction administration
ESP Associates 2154 N. Center St. North Charleston, SC 29406
843-714-2042
Keane McLaughlin 1986
6 20%
Master planning, due diligence, urban design, visioning, design charrettes, hardscape/planting design, streetscapes, municipal and federal projects
Stantec Consulting Services Inc. 4969 Centre Pointe Drive, Suite 200 North Charleston, SC 29418
843-740-7700 www.stantec.com rick.day@stantec.com
Rick Day, Jenny Horne, Bryan Kizer 1959
6 30%
Planning, road design, civil and site design, structural engineering, environmental services
Remark 1859 Summerville Ave., Suite 550 Charleston, SC 29405
843-952-7817 www.remarkstudiollc.com studio@remarkstudiollc.com
J.R. Kramer 2007
3 100%
Commercial, planning, multifamily, mixed-use developments, residential design, sustainable design, garden design and renovation
SGA NW 804 Meeting St., Suite 103 Charleston, SC 29403
843-853-4506 www.sganwdesign.com info@sganwdesign.com
Bill Eubanks, Steve Goggins 2022
3 25%
A GF design company; architecture, interior design, land planning, master planning
Byers Collaborative 314 E. Erie Ave. Folly Beach, SC 29439
843-814-8544 www.byerscollaborative.com sanford@byersdesign.com
Sanford E. Byers 1999
2 50%
Residential, small commercial, land planning, rezoning
HLA Leinbach Drive, Suite 29A Charleston, SC 29407
843-763-1166 www.hlainc.com achico@hlainc.com
Amy Chico, Ike Boatwright, Barry P. Whalen 1987
2 20%
Surveying, land planning, wetland permitting, civil engineering
Outdoor Spatial Design LLC 1060 E. Montague Ave., Suite 315 North Charleston, SC 29405
843-733-3325 www.osdla.com evan@osdla.com
Evan Brandon 2010
2 100%
Urban design, master planning, residential design
Hussey Gay Bell 474 Wando Park Blvd., Suite 201 Mount Pleasant, SC 29464
843-849-7500 www.husseygaybell.com sdmorrell@husseygaybell.com
Justin Robinette, Alan Townsend 1989
1 15%
Community and neighborhood planning and design, industrial, mixeduse, commercial and retail planning, entitlements and rezoning, permitting
Synchronicity 69 Morris St., Suite 101 Charleston, SC 29403
843-203-4766 www.synchronicity.design info@synchronicity.design
Todd Richardson, Luke Jarrett 2016
1 40%
Planning, architecture, smart density, urban design, parks, adaptive reuse, rezoning, entitlement, feasibility study, innovative land solutions, PUDs
Because of space constraints, sometimes only the top-ranked companies are published in the print edition. Although every effort is made to ensure accuracy, errors sometimes occur. Email additions or corrections to research@scbiznews.com.
Specialization
Researched by Business Journal staff
THE SITE EXPERTS
International African-American Museum
4995 Lacrosse Rd | (843) 881-3430 | PleasantPlaces.com
SURVEYING | WETLAND PERMITTING | LAND PLANNING CIVIL ENGINEERING | LANDSCAPE ARCHITECTURE
29A Leinbach Drive | Charleston, SC 29407 (843) 763-1166 | www.hlainc.com
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Business Digest
Pinewood announces stateof-the-art athletic facility construction project
Pinewood Preparatory School has launched Game On: Raising the Bar, a multi-million-dollar capital campaign to transform its athletic facilities. Funds raised through the campaign will go toward a new synthetic turf field designed for football, lacrosse and soccer, and a new 13,000-squarefoot, two-story athletic center with a state-of-the-art weight room, gender-equitable locker rooms, training facilities, restrooms, concessions and a second-story multipurpose room. Pinewood has partnered with ServisFirst Bank for financing, Southeastern Construction and McMillan Pazdan Smith for architecture and design, and with FieldTurf to install the same field material used at Bank of America Stadium. Early leadership commitments total more than $1.5 million prior to public launch. on The Dunlin, Auberge Resorts Collection. It will include 72 cottage-style guest rooms and suites and 19 villas upon its opening in 2024. Amenities will include a pool, spa, dining destinations, nature excursions, access to Kiawah River’s Spring House, a riverfront swim and fitness facility, and two event spaces for gatherings and celebrations.
Wheels Up and South Street partners launch new offerings and services
Steen Enterprises becomes only authorized Hitachi heavy equipment dealer in SC
Wheels Up, a private aviation brand, has partnered with master-planned residential community developer to provide Wheels Up members with an opportunity to experience select South Street residential and hospitality properties at Kiawah Island, The Cliffs, Residences at Salamander and Palmetto Bluff. Members at South Street’s participating communities will be provided with Wheels Up membership and offerings as well as access to curated events.
Steen Enterprises has announced a new partnership with Hitachi, a worldwide leader in construction equipment, becoming the only authorized Hitachi dealer in the state. Hitachi selected Steen for its location, longevity and relationships. In early March, the first round of utility excavators, construction excavators, reduced tail-swing excavators, compact excavators, wheel loaders and more arrived from Japan at the dealership.
Workspace at The Victory Opens
Kiawah River breaks ground on The Dunlin, Auberge Resorts Collection
Kiawah River recently broke ground
Workspace at The Victory is open in Avondale in West Ashley. Workspace is a collection of office and co-working spaces with locations throughout the area, including James Island, West Ashley and Mount Pleasant. The Victory, renovated by local real estate developer Twin Rivers Capital, offers office space on the second floor, with restaurant and retail on the ground level. The offices feature large windows and exposed brick and comes with a dedicated parking space.
AutoNation USA opens Charleston Store
AutoNation Inc. has announced the See BD, Page 28
BUSINESS SERVICES The Office People has hired Steven Lebonville as a project specialist. Lebonville is a graduate of the University of North Carolina with a bachelor’s degree in Lebonville urban planning and a master’s in applied geography with a focus on geopolitics. He joins an expanding team of technology professionals offering a wide range of products, services and support for businesses large and small. Patrick Bryant, co-founder of the Harbor Entrepreneur Center and Code/+/Trust, and Christina Lock, CEO of Catch Talent, were each recognized at Entrepreneurs’ Organization Charleston’s entrepreneurship celebration in front of nearly 100 guests at Hall’s Signature Events. Bryant was presented with EO Charleston’s inaugural Hall of Fame recipient award. He is a founding member of EO Charleston and serves on the board as community outreach chair. Lock was recognized for her business Catch Talent, being the only femaleowned business from the Lowcountry on the 2021 Inc. 5000 list. Congresswoman Nancy Mace presented the award.
ENGINEERING Life Cycle Engineering has added Bambi Hoyt and Limuel Sagadraca to its executive leadership team. Hoyt serves as vice president of busiHoyt ness development and capture. She is responsible for positioning the company for continued growth and stability in the federal sector. Throughout her 14 years at the company, Sagadraca she has led growth initiatives, including managing IT and technical programs for the U.S. Navy, DISA, U.S. Air Force, U.S. Marine Corps and Veterans Affairs customers. Sagadraca has joined LCE as vice president of its reliability consulting group. He has more than 25 years of industry experience, most recently from See PEOPLE, Page 28
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BD, from Page 27
opening of AutoNation USA Charleston, the first in the state and one of several locations the company expects to open across the United States in 2022. The 31,500-square-foot Charleston store brings nearly 30 new jobs to the region.
Dorchester County announces public-private partnership for rural broadband project
Dorchester County Government has announced a public-private partnership with both Home Telecom and Palmetto Rural Telephone Cooperative to expand high-speed internet access to the western part of the county over the next three years. Whether working from home, attending school online, or seeing a health
PEOPLE, from Page 27
Rockwell Automation, where he held the position of global manager, business value consulting for the information solutions organization.
MARKETING FishBait Solutions has hired longtime ESPN executive and collegiate sponsorship veteran Rusty Reed as its new chief revenue officer and equity partner. Reed Reed is known in the industry for his relationships with marketers and agencies, as well as his sponsorship sales expertise, having designed many of ESPN Events’ multi-platform and multi-event partnerships over the last decade. He has spent his entire career in sports, first in management as executive vice president of Pro Players Inc. representing professional athletes (NBA and MLB) in contract negotiations and was key in building the European basketball stable for Pro Players.
REAL ESTATE The Cassina Group has hired Realtors Ann Coggiola and Brian DeMille. Coggiola has more than 18 years of experience in the Charleston real estate industry and is actively involved in many nonprofits, including Lowcountry Orphan Relief, Be A Mentor, the Charleston Leadership Foundation and
Coggiola
DeMille
April 18-May 1, 2022
care provider virtually, the county believes that access to high-speed internet offers a myriad of benefits that will improve the community. The $17.1 million investment is subsidized through matching funds provided by Home Telecom and PRTC along with a maximum grant of $8.5 million from the American Rescue Plan Act.
Team Phun adds facility in North Charleston
tions and design teams. Team Phun currently partners with a diverse group of local legacy companies, including Kiawah Island Resort, Shipyard Park and Palmetto Brewery, and is a marketing partner for the Maritime Association of South Carolina.
online patient portal, allowing patients to access medical records, make online payments, schedule appointments and more. Charleston Allergy and Asthma partnered with local Mount Pleasant-based marketing agency Trio Solutions Inc. to create its refreshed brand identity and website.
Charleston Allergy and Asthma rebrands
Anastopoulo Law Firm changes name
Charleston Allergy and Asthma, a Lowcountry leader in allergy relief, has announced several changes as part of its brand refresh initiative. The practice, which is locally owned and operated by its team of board-certified allergists, has been serving the community for more than 30 years. The practice recently launched an updated brand logo along with an all-new website that includes an
The Anastopoulo Law Firm LLC is now known as Poulin | Willey | Anastopoulo LLC, effective March 1. In South Carolina, the firm will continue to do business as Anastopoulo Law Firm. The brand will continue to serve the Carolinas, where they have multiple offices, while also serving clients across the country in civil litigation matters.
the Daniel Island Exchange Club. DeMille began his career building the May River Golf Course in Bluffton and worked on the first three phases of Palmetto Bluff. He has been a Realtor since 2005.
She has a bachelor’s degree in business administration from St. Andrews Presbyterian College.
Bridge Commercial has hired Sophie Cumbie as property management assistant. Cumbie is currently enrolled as a student at Trident Technical College Cumbie and will serve as an integral part of the property management team, providing an additional layer of customer service.
Axel Bense has succeeded Arnhelm Mittelbach as CEO and president of Mercedes-Benz’s North Charleston plant. Bense was the former lead of MerBense cedes-Benz Manufacturing Thailand and Mercedes-Benz Russia. He joined the then DaimlerChrysler AG at the Bremen, Germany, plant in 1999 as a graduate process engineer, and in 2001, he was responsible as project manager for the construction and commissioning of a new paint shop at the Mercedes-Benz plant in Tuscaloosa, Ala. After various management positions at the Bremen and Sindelfingen sites in Germany, as well as the Tuscaloosa site, he took over production management at Mercedes-Benz Truck Vostok in Russia at the beginning of 2011. In that function, Bense was responsible for the construction and ramp-up of the new plant in Chelny, Russia. In 2015, he returned to Sindelfingen to lead development of the Chelny plant. In 2017, he took over the management and development of the new production company Mercedes-Benz Manufacturing Rus as CEO in Moscow. Later, Bense moved on to Thailand where he took over management at Mercedes-Benz Manufacturing Thailand in 2020. Mittelbach, who has served at the helm of South Carolina’s Mercedes-Benz Vans plant since 2019, will take on a new position at Mercedes-Benz Cars at the company’s headquarters in Stuttgart, Germany. Mittelbach began his career in 2002 at the then DaimlerChrysler AG in Bremen, Germany.
After various management tasks in the Mercedes-Benz operations, including at the locations in Bremen, Sindelfingen and East London in South Africa, Mittelbach took over management of the Charleston plant in 2019.
Team Phun, a brand-building and promotional products company with offices in San Diego and Charleston, is adding a new facility in North Charleston. The added space will provide Team Phun’s Charleston operation greater efficiency in production, fulfillment and customer warehousing, and include a collaborative workspace environment for sales, opera-
AgentOwned Realty has hired Walter “Wally” Carey as an agent in its Mount Pleasant office. A professional photographer and sailor, Carey came to Carey Charleston in 2007 after a career with a leading Manhattan advertising agency. His primary focuses are home renovation and investment properties. The Beach Co. has hired Patrick Seignious as a property management assistant and promoted Elizabeth Kennedy to real estate transaction specialist. Seignious will be based at The Beach Co.’s downtown headquarters at The Jasper. He previously served in multiple roles at Kiawah Island Golf Resort in the guest services department. He holds a bachelor’s degree in business economics from Wofford College. Kennedy works at The Beach Co.’s downtown headquarters. She joined the company in 2013 as the executive administrative assistant to former CFO Darryl Reyna. In her new role, she will work with the finance and legal teams in the coordination of closing processes.
AUTOMOTIVE
Knudt Flor has recently taken on the role of College of Charleston’s senior vice president for innovation and industry engagement and distinguished Flor professor of practice. He formerly served as the president and CEO for BMW. In this new role, Flor will guide faculty and staff as the college creates innovative curriculum that appeals to both employers and students. He’ll also assist in developing the college’s new engineering program. Flor has 33 years of experience in the manufacturing industry, from which he will use the connections he’s created over time to recruit businesses around the world to collaborate with the Charleston college. Partnerships could include global internships, curriculum influenced by brand-name CEOs and European universities sharing their techniques. Flor began his role as engineer of production at Engine Plant in Munich, Germany, in 1988. Following that position, he then rose to executive roles in Africa, Asia, Europe and North America. For the last five years, he served as president and CEO of BMW Manufacturing Co. in Greer. Within his first 10 days on the job at the College of Charleston, Flor has already secured buy-in from nearly 15 global manufacturing companies. Flor’s other plans for the college include new professors, closer relationships with businesses, and internships where students solve real-time industry problems.
April 18-May 1, 2022
www.charlestonbusiness.com 29
Economic activity must slow to reduce inflation W
ith a little help from Fed officials. the markets finally woke up to the fact that the Fed is far behind the curve and will need to act far more aggressively than Federal Reserve Chair Jerome Powell described in midMarch. Based on speeches given last week the Fed seems intent on getting back to a more neutral stance by the end of this year. STEPHEN It believes that a SLIFER neutral funds rate — which neither stimulates nor retards economic activity — is about 2.5%. Getting the funds rate from where it is currently at 0.25% to the 2.5% mark by yearend will require several 0.5% increases along the way. The Fed seems intent on front-loading those moves, so we should expect 0.5% increases at its meetings in May, June and perhaps July. The problem is that a 2.5% funds rate is only neutral if inflation is at the 2.0% mark which it decidedly is not. That is a starting goal, not an endpoint. Nobody knows for certain what that endpoint might be. It depends to a large extent on when and by how much the inflation rate subsides. Pick whatever inflation measure you want, but they are all currently on the north side of 5.0%. Could the funds rate reach the 5.0% mark? Perhaps. But the Fed is going to give us a double-dose of tightening by raising the funds rate and simultaneously embarking on a course of shrinking its balance sheet by almost $100 billion per month. That will raise long-term rates. That combo of rate hikes and a shrinking balance sheet is unprecedented. It will make the appropriate dose of slow-growth medicine difficult to prescribe. The only thing we know is that between now and yearend the Fed intends to close the gap between where its policy is now and where it needs to be. To reduce inflation the Fed needs to substantially slow the pace of economic activity. Negative real interest rates will not accomplish that objective. All real interest today are very negative. For example, a 4.7% 30-year mortgage rate is not going to have much impact on the housing market. Why? Because an individual in the 22% tax bracket gets to deduct the interest expense when calculating his or her taxes. That means that after tax that person is paying 3.7%, not 4.7%. And if inflation is 5.0%, the real after tax cost of borrowing is -1.3%. Not only can that person claim the interest expense as a tax deduction, but they get to pay it back with deflated dollars. A 4.7% mortgage rate is not going
The Fed cannot be any more certain about the paths for GDP growth, inflation, and interest rates over the next two years than any of the rest of us.
to slow the pace of home buying. We expect the combination of increases in the funds rate and the Fed’s shrinkage of its balance sheet to boost the 30-year mortgage rate to 6.0% by the end of this year. But even at that level it may not have much bite. Let’s suppose that the Fed tightens further in 2023 and boosts the funds rate by another 1.0% from 2.5% to 3.5% and continues to shrink its balance sheet by $100 billion per month. At that point the mortgage rate is likely to have reached the 7.0% mark. Will that do the trick? To
answer that question one needs to have some guesstimate about what might happen to inflation between now and then. The Fed is looking for inflation in 2023 to slow to about 2.5%. We think it will remain elevated at about 5.5%. A three percentage point difference in the likely inflation rate next year is enormous and has very different implications about the level of interest rates required to slow the pace of economic activity. Unfortunately, we are in uncharted waters which means that all of us are guessing. The Fed cannot be any more certain
about the paths for GDP growth, inflation, and interest rates over the course of the next two years than any of the rest of us. All we can say for certain is that interest rates are going to rise sharply. A year from now we may be better able to assess the rate levels that are required to slow the pace of economic activity without dumping it into a recession. The problem is that nothing about changes in business cycles occurs slowly. The warnings signs may rise and tell us that trouble is brewing, but exactly when the economy will respond is difficult to predict. For example, back in the early 2000’s everybody could see that the housing market was booming and the situation was unsustainable. But if you had predicted that a recession was imminent you would have been wrong for years. Suddenly there comes a time when there is a collective gasp by consumers who suddenly pull in their horns and stop spending, and businessmen who decide that they need to lay off lots of workers in a hurry, and the bottom falls out. The Fed may see the problem coming but gets frustrated because the economy keeps chugging along. It then takes that final step and raises rates one last time. But then disaster strikes. Achieving a soft landing without stepping over the edge requires a delicate touch. Unfortunately, it rarely happens. The only thing we feel comfortable saying is that the edge of the cliff will not be reached between now and this time next year. CRBJ
From 1980 until 2003, when he retired, Stephen Slifer served as chief U.S. economist for Lehman Brothers in New York City, directing the firm’s U.S. economics group along with being responsible for forecasts and analysis of the U.S. economy. He has written two books on using economic indicators to forecast financial moves and previously served as a senior economist at the Board of Governors of the Federal Reserve in Washington, D.C. Slifer can be reached at www.numbernomics.com..
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April 18-May 1, 2022
Target your market in an upcoming issue of the Charleston Regional Business Journal
MAY 9
GROWTH REPORT: LIFE SCIENCES List: Life Science Companies
Advertising Deadline: April 25 Chris Singleton speaks to attendees at the EO Charleston Inc. 5000 event on March 24. (Photo/Provided)
MAY 23
PORTS, LOGISTICS AND DISTRIBUTION
List: Motor Frieght Companies Bonus List: Employee Benefit Brokers
Advertising Deadline: May 9 JUNE 13
ARCHITECTURE, ENGINEERING AND CONSTRUCTION (AEC) List: Home Builders Special Section: Lowcountry Diversity Leadership Awards Advertising Deadline: May 30 JUNE 27
MANUFACTURING & AEROSPACE List: Largest Employers Special Section: Business Cares Salute to the Military Advertising Deadline: June 13
For advertising information, call Robert Reilly at 843.849.3107
EO Charleston presents entrepreneurship awards during Inc. 5000 event
E
O Charleston hosted an entrepreneurship celebration event at Hall’s Signature Events last month and presented several awards to local business owners in front of nearly 100 guests, including some of SC’s Inc. 5000 winners. Chris Singleton was the keynote speaker, providing attendees with an inspirational presentation about resiliency and being motivated to achieve goals. Special guests included Congresswoman Nancy Mace, Charleston Mayor John Tecklenburg, EO members from the U.S. East Region and Morgan Brady from Inc. 5000. Patrick Bryant, the co-founder of the Harbor Entrepreneur Center and Code/+/Trust, was presented with EO Charleston’s inaugural Hall of Fame recipient award. Bryant is a founding member of EO Charleston, which was established by Entrepreneurs’ Organization (EO), the world’s largest peer-to-peer network of entrepreneurs. In addition to serving on the EO Charleston board as community outreach chair, Bryant is actively involved in promoting a local culture of supporting entrepreneurs in a variety of ways. “Patrick has dedicated his life’s work to helping entrepreneurs thrive not just in Charleston but across the country,” stated Brannon Poe, EO Charleston board chair and founder of Poe Group Advisors, an international accounting brokerage firm headquartered in Charleston. “EO Charleston is pleased to announce the debut of the Charleston Entrepreneur Hall of Fame and on behalf of EO Global, the EO U.S. East Region and our local chapter and board of directors, I am honored to name Patrick as our inaugural recipient.” EO Charleston also recognized Christina Lock, CEO of Charleston-based, Inc.
5000 winning business, Catch Talent, for being the only female-owned business from the Lowcountry on the 2021 Inc. 5000 list. Congresswoman Mace presented Lock with her award. Mace was the first female graduate of The Citadel, one of only two female congresswomen to serve South Carolina’s 1st congressional district and the first female Republican to serve. “Christina is an inspiration to every female entrepreneur in our community,” said Jessica Munday, EO Charleston’s president-elect and CEO of Trio Solutions Inc., a marketing community agency based in Mount Pleasant. “Entrepreneurship is alive and well in the Lowcountry and I trust that Christina’s trailblazing approach to running her business will inspire others to break through the barriers so more women-owned businesses can reach the Inc. 5000 milestone. It was an honor to have Congresswoman Mace join us and truly fitting for her to present Christina with her award.” “Together, both of these successful women are inspiring future female leaders. Our chapter intends to grow the diversity of our membership and welcome minority-owned business owners to reach out about how EO Charleston and our partners can support them in the growth of their business.” South Carolina is home to 58 businesses currently on the Inc. 5000 list. EO Global and Inc. 5000 are partnering together to establish an annual celebration event for all local businesses that reach the prestigious milestone status. EO Charleston has been selected to serve as a model for other EO chapters around the country that wish to recognize Inc. 5000 winners in their respective communities. CRBJ
Viewpoint
VIEWS, PERSPECTIVES AND READERS’ LETTERS
The rising tide raises all: advice for small business owners
I
was executive director of the Five Points Association in Columbia — representing 150 merchants — and preparing for our biggest event of the year, a St. Patrick’s Day celebration, when I decided to take a leap of faith and buy my own small business: The Gourmet Shop. This was a year before the pandemic AMY BETH hit and I was confiFRANKS dent that my grit and determination would make this dream a reality. When COVID turned our world upside down, I found that adaptability was the key to success. Now that I have owned The Gourmet Shop for a few years and boast experience I could never have dreamed I would gain, I have a story to tell my fellow business owners. As a worldwide pandemic impacted our businesses, I learned that when the future seems uncertain and challenges loom larger than usual, there are no replacements for communication, conti-
nuity and collaboration. Luckily, we had social media at our fingertips to use in ways we hadn’t previously imagined and to help us with all three. Here is how:
Communication
At the beginning of the pandemic, many small businesses were forced to close or alter their hours of operation. This served as a reminder to always be prepared to communicate effectively with loyal customers – and potential new ones – even when you may not be able to see them in person. We used our Instagram and Facebook pages to update customers and answer any questions they had in real time - for which we were thankful because of increased phone line traffic our staff could not maintain. Opening up a line of communication virtually about our regulations, hours, and carry-out options with our customers and community really was what got us through our hardest days. Although we have a website, social media became our hub for online orders.
Continuity
We also wanted customers to continue
to see the same kind of customer-service oriented staff they were accustomed to at The Gourmet Shop, even if some faces changed. Like the majority of the country, not receiving a steady paycheck is not an option. As soon as we were able to serve our customers again, our pre-covid staff was reunited. Additionally, we took advantage of social media to bring in new hires. We found that this was where we received the most traffic and have since hired more than 75% of our candidates after finding them on Facebook. This quickly put people back to work in order to provide for their families and keep our doors open. Continuity gave us a peace of mind we never knew could be so valuable.
now was no different. The Gourmet Shop needed to be supported by and supportive of the community in order to survive. Working and collaborating with other small businesses in Five Points on giveaways and special events unlocked new opportunities for my business. All businesses, ranging from hospitality to retail, could gain from becoming active members in their community. My advice to fellow small business owners is to take advantage of your resources and community support and keep an open mind to what is possible with social media. Open up lines of communication with your community and be responsive. Lean on your neighbors, friends and competitors alike to help each other out. The rising tide raises all. Amy Beth Franks is the owner of upscale Columbia grocer and cafe The Gourmet Shop. CRBJ
Collaboration
I have always loved the phrase “A rising tide lifts all boats.” The collaborations undertaken during such a difficult time not only kept us all afloat, but created lasting relationships. While wearing my small business owner hat, I remembered the one I wore before. As an executive director I relied on utilizing the different strengths of each member business to benefit the entire company and
We want to hear from you Write: Ross Norton, Editor Charleston Regional Business Journal 3265 North Carolina Avenue, Suite 101 North Charleston, SC 29405 Email: rnorton@scbiznews.com
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