ANNUAL REPORT 2021
2021 ENDS ON HIGH NOTE
Regional investment surpassed $2.5 billion Imagine yourself on roller coaster ride: slowly climbing to a pinnacle, hearing a “click” and then plunging downward, before surging back up and twisting to your side. You feel a mix of adrenaline, fear, exhilaration, relief and joy as you loop around, eventually coasting to a stop. For many, that’s how much of the last few years have been. We entered into 2021 with the weight of the pandemic. We were cautiously optimistic about our ability to resume the in-person activities that enrich our work, and we were poised to maintain the digital and small-group engagements we initiated during 2020. Coming off of the roller coaster, it’s invigorating to report that 2021 was a sensational year for capital investment in the Upstate: 85 companies announced nearly $2.5 billion in capital investment and 8,745 jobs. The Upstate 10 counties account for nearly half of the $5.7 billion in 2021 capital investment and jobs announced by the SC Department of Commerce. Each of our counties had at least one announcement, and investments ranged in size and type, spanning multiple industries. Several of the state’s largest projects were within our region: Oshkosh Defense, Arthrex, Transcom, Pall Corporation and Walmart. We’re also seeing an increase in the number of projects emerging from site selection consultants, whose work has become increasingly important
NATIONWIDE SEARCHES OF “UPSTATE SOUTH CAROLINA” increased averaging
24% 3,600 searches per month
Between November 2018 & November 2021
amid the pandemic. It’s fitting that we’ve grown our focus on these Centers of Influence, hosting both virtual and in-person inbound events in 2021. Another Upstate bragging point: many existing industries announced large expansions: Lockheed Martin’s 300 new jobs in Greenville, Arthrex’s 500 new jobs in Anderson, and ZF’s 500 new jobs in Laurens. When existing industries continue to invest in our region, it sends the message that Upstate SC is a location that meets industry needs, backed by a proven workforce. That message is a testament to the power of #TeamUpstate and the collaborative, “can-do” environment that comes from your public and private leadership across the region. In 2022, we’re seeking investor support for our Strategic Planning Process, where we’ll explore how we can embrace opportunities that arise from digitization and automation, sustainability and electrification, entrepreneurship and maximizing economic participation. We know the future will hold more roller coaster hills and thrills, though a collaborative, proactive approach will allow us to step off the ride together once more shouting, “That was awesome! Let’s do it again.”
John Lummus President & CEO Upstate SC Alliance
BUSINESS RECRUITMENT
2021 PIPELINE Engineered Materials
280
Auto & Transport
255
Industrial Manufacturing
167
Life Sciences
153
Aero & Defense
152
Other
140
Food Production
110
Business Services
107
Energy & Utilities
59
Measured by active contacts in pipeline
TOTAL USA
UK
430
GERMANY
103
102
400
SPAIN
95
1,423
CHINA
54
39
395
350 300
CANADA
359 313
334
250
263
200 150 100 50 0
106 70
100
45
2017
27 2018
30 2019
34
29
2020
54
38
2021
PRESENTATIONS
VISITS
RFIs
Presentations made by Upstate SC Alliance to prospect companies and Centers of Influence (COI)*
Prospect company or Centers of Influence (COI)* visits to the region hosted by the Upstate SC Alliance
Requests for Information (RFIs) received from prospect companies and shared with local economic development teams
*Centers of Influence (COIs) = Site consultants, international business and trade organizations, real estate brokers and developers
2021 ANNOUNCEMENTS
$2.47B in new capital investment
85
total announcements
69%
43
31%
DOMESTIC COMPANIES
8,745 new jobs announced
NEW vs.
FOREIGN-OWNED COMPANIES
EXISTING
42
UPSTATE ANNOUNCEMENTS by the numbers
$8.4B
27,025
in new capital investment
new jobs announced
5.0
7,000
4.0
6,000
3.0
5,000
2.0
4,000
JOBS
CAPITAL INVESTMENT*
5 YEAR TOTAL
*In billions
1.0
2017
2018
2019
2020
2021
$2.02B 6,247 JOBS 75 Projects 31 International
$1.29B 4,259 JOBS 65 Projects 28 International
$1.28B 4,577 JOBS 91 Projects 32 International
$1.25B 3,017 JOBS 57 Projects 26 International
$2.47B 8,745 JOBS 85 Projects 26 International
3,000
2021 ANNOUNCEMENTS New vs. Existing NEW COMPANIES 2021
43
$1.3B
new company announcements ACI Plastics Agape Care Group Bailybead Solar (Cypress Creek Renewables) BMarko Structures BNNano CNC Cabinetry Coastal Partners, LLC Confidential Projects Connect America / Lifeline DHL Supply Chain Drake Software Epsilon Frauenthal Gnotec Gissing North America GML Industries, LLC
in new capital investment Hawkeye Hotels, Inc. / Fairfield Inn & Suites Impresa Building Systems Kerns Trucking, Inc. Magna Mirrors Malouf MECART, Inc. Meva Formwork Systems Limited Microtex Composites MP Cloud Technologies / EMTech Old Dominion Oshkosh Defense Pall Corporation Pozyx Pregis
5,172
new jobs announced Project Green Spa Project Green Spa 2 Project Otto Project Sunrise ATC Project Sunrise LS1 S.W.O.R.D. International, Inc. Shenandoah Growers, Inc. Sweetwater Solar (Pine Gate) Sync.MD Tiger Companies Top Edge Components Transcom TTI Floor Care North America Walmart
EXISTING COMPANIES 2021
42
existing company expansions AFL Arthrex Auria BASF BMW Manufacturing Corp. Bosch Rexroth Corp. Broad River Electric Corp. Canal Insurance Cypress Creek Renewables E+I Engineering USA Fibertex Nonwovens, Inc. First Quality Tissue Frontier Label Georgia-Pacific, LLC
$1.2B
in new capital investment Glen Raven Hanvey Engineering ILGIN USA Corp. ISOFlex Packaging KIYATEC, Inc. Lonza Luxor Scientific Monti, Inc. Nestlé USA Pall Corporation Plastic Omnium PreZero US Project Blue Project Sabre
SEE RECENT ANNOUNCEMENTS
3,573
new jobs announced Project Seed Project Skywalker Project Wiper Proterra Prysmian RL Solutions, LLC Sandvik Solvay Standard Textile Co., Inc. STAR EV The Home Depot United Community Bank WCFIBER, LLC ZF Transmissions Gray Court
Upstate SC:
WHERE MANUFACTURING & TECHNOLOGY INTERSECT UPSTATE SITE CONSULTANT INBOUND IN SPARTANBURG Our largest consultant inbound event drew 11 site selection consultants to experience the Upstate in fall 2021. Hosted in Spartanburg, the event offered a chance to test-drive BMW’s automotive technology at the BMW Performance Center Driving Experience, hear how the Spark Center SC provided millions of dollars worth of market entry support to Keurig Dr Pepper’s roasting facility, tour Milliken & Company’s innovation gallery, and “speed date” our Local Economic Developers.
CELEBRATING CLEMSON AT INDY
Clemson University automotive engineering’s Deep Orange 12 driverless prototype served as the platform for the Indy Autonomous Challenge, and #TeamUpstate was there to celebrate the unveiling during the Indy 500, making our first trip with Locals and partners since the pandemic.
Indy Autonomous Challenge
11
site selection consultants
48
public & private investors engaged
UPSTATE INNOVATORS HOMECOMING During our 2021 Innovators Homecoming, leaders of the Upstate’s entrepreneurial ecosystem met with visiting innovation players to share the region’s strengths & potential.
Innovators Homecoming
Innovation is the nucleus of the Upstate, and we shared stories of the Upstate’s leading technology advancements, home-grown success, and the potential our location presents to growing international companies through several activities.
SITE SELECTION UPSTATE INTELLIGENCE REPORT
“The streets buzzed with people and possibilities,” Site Selection Magazine reported in July following a visit to the Upstate in Spring 2021. The publication explored the region’s population growth – more than double the U.S. population – and how we ended 2020 with a 1.5% increase in manufacturing activity & construction up 5%.
Stories included:
• “A Visit on the Front Porch” with Greenville Drive owner Craig Brown • “Quiet Giant: Milliken & Company Products are Everywhere” • “The Upstate’s Talent ROI is Substantial and Growing” • “Where Startups are Stakeholders”
EXPLORE REPORT
INNOVATION VIDEO SERIES
Belgian real-time location tracking technology provider Pozyx. Homegrown engineered materials company Zylö Therapeutics, whose products have life science applications. ChartSpan improving patient care through proprietary technology. Epica International growing its U.S. presence in medical imaging and robotics equipment. The Milliken & Company innovation story. What attracted these companies to the Upstate, and what’s keeping them here? We asked, and they share their take in our innovation video series, “Unlocking the Power of Innovation.”
SEE SERIES
Everybody wants to peg: ‘What’s the big vertical? What’s the sliver of types of companies that exist in the Upstate?’ And the truth is, there’s a remarkable, diversified group. Whether you’re incubating, or whether you’re closing a $100 million round of capital, all of it is possible here.
ChartSpan
Pozyx
Jon-Michial Carter
CHIEF GROWTH OFFICER & FOUNDER CHARTSPAN
Zylö Therapeutics
2021 INVESTOR ACTIVITY by the numbers
CURRENT INVESTORS
The Alliance’s work is funded through public-private partnership, including:
181
private sector investors
20
public sector investors
26
new investors
4
upgraded investors
86
investor events
321
investor research requests +35% from 2020
Connecting Upstate employers with talent. A surprising 90% of the nation’s workforce searches for employment opportunities at least a few times per year. How are you making sure your job openings land on their radar? Let MoveUpstateSC.com and our Move Up talent attraction initiative be your answer. Launched to connect Upstate employers with talent, the Upstate SC Alliance provides this resource to showcase the best of living, working, and moving up within our region, reaching nationwide audiences through targeted digital marketing.
TALENT ATTRACTION Promoting job opportunities to targeted talent audiences outside the region — as well as to those in the Upstate.
77K+
visits to website
2,134
social media followers
Connecting Upstate residents with in-demand technical occupations — and the short-term pathways to get them there.
job views
paid media impressions
highlighted occupations
15
46,899
424
832K+ social media
283K+ social media
3,696 link clicks
23K+
published posts
2.7M
impressions
impressions
job postings (annual)
FINANCIAL OVERVIEW 2021 3%
ASSETS Total Current Assets Total Property & Equipment
$3,129,271.05 $113,404.33
TOTAL ASSETS
TOTAL PROPERTY & EQUIPMENT
TOTAL ASSETS
TOTAL CURRENT ASSETS
$3,242,675.38
$3,242,675.38
97%
LIABILITIES & CAPITAL Total Current Liabilities Total Long-Term Liabilities
$1,319,382.14 $4,681.56
TOTAL LIABILITIES
$1,324,063.70
Beginning Unrestricted Net Assets Change in Net Assets
TOTAL CAPITAL TOTAL LIABILITIES
$1,641,591.16 $277,020.52
TOTAL CAPITAL
$1,918,611.68
TOTAL LIABILITIES & CAPITAL
$3,242,675.38
59%
TOTAL LIABILITIES & CAPITAL
41%
$3,242,675.38
REVENUE
2021 ACTUAL
2021 BUDGET
2020 ACTUAL
2019 ACTUAL
Investor Revenue Sponsorships/Grants/Other Revenue State Funds Applied to Budget
$1,795,105.52 $335,145.60 $864,822.85
$1,693,832.22 $120,424.96 $1,209,142.96
$1,727,424.06 $113,462.40 $683,659.76
$1,642,078.29 $186,055.46 $907,440.97
$2,995,073.97
$3,023,400.14
$2,524,546.22
EXPENSES
2021 ACTUAL
2021 BUDGET
2020 ACTUAL
2019 ACTUAL
Total Operational Expense** Total Program and Service Expense Total Fundraising Expense
$637,073.72 $1,962,905.68 $118,074.05
$563,046.16 $2,320,103.98 $140,250.00
$724,521.23 $1,582,279.30 $115,563.76
$753,193.63 $1,740,789.84 $122,062.68
$2,718,053.45
$3,023,400.14
$2,422,364.29
TOTAL REVENUE
TOTAL EXPENSES
$2,735,574.72
$2,616,046.15
**Must add depreciation amount to get true number
2021 ACTUAL
2021 BUDGET
2019 ACTUAL
2020 ACTUAL
TOTAL REVENUE
$2,995,073.97
TOTAL REVENUE
$3,023,400.14
TOTAL REVENUE
$2,524,546.22
TOTAL REVENUE
$2,735,574.72
TOTAL EXPENSES
$2,718,053.45
TOTAL EXPENSES
$3,023,400.14
TOTAL EXPENSES
$2,422,364.29
TOTAL EXPENSES
$2,616,046.15
EXECUTIVE COMMITTEE 2022
OFFICERS
The following individuals serve on Upstate Alliance Executive Committee as of spring 2022:
DAVE EDWARDS
LIZ SEMAN
EMILY DeROBERTS
President & CEO GSP International Airport
Chief of Staff, Liason to the Board of Trustees Furman University
Government & Community Relations Duke Energy
ADAM ARTIGLIERE
JODY BRYSON
JENNIFER CALABRIA
ROY COSTNER
JACK ELLENBERG
Partner Burr & Forman LLP
President & CEO SCTAC
Director of Land Development Pacolet Milliken
Vice Chairman Pickens County Council
Associate Vice President Corporate Partnerships & Strategic Initiatives Clemson University
STEVE FERGUSON
WILLIAM KENLEY
BARRY LEASURE
TERENCE ROBERTS
KIM WALLACE
Executive Vice President of Sales, Marketing & Customer Service AFL
Chief Executive Officer AnMed Health
Managing Partner GreerWalker
Mayor City of Anderson
Chief Growth Officer Hire Dynamics
NON-VOTING
MEMBERS AT LARGE
Chairman
Vice-Chairwoman
JONATHAN COLEMAN
STEVE COOPER
President/CEO Laurens County Development Corporation
Partner Rödl Langford de Kock
Treasurer
Immediate Past Chairwoman
From existing industries expanding to new companies choosing to call the Upstate home, 2021 was a remarkable year. On behalf of the Executive Committee, we look forward to working with the Alliance’s diverse network of experts to chart a vision for sustaining this momentum into the future.”
Dave Edwards
CHAIRMAN, UPSTATE SC ALLIANCE BOARD OF DIRECTORS
upstateSCalliance.com