VOLUME 29 NUMBER 20 ■ CHARLESTONBUSINESS.COM
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BRIEFS | FACTS | STATEWIDE NEWS | BEST ADVICE
How bad will your gas pains be this holiday driving season?
Average price for regular gasoline in SC
The average price for a gallon of regular gasoline in South Carolina decreased 9.5% in November compared to the same month last year.* Data show prices started dropping about a month before the holiday season.
Sources: AAA Carolinas, U.S. Department of Energy *As of mid-November 2023 Lowest to highest average price for gas in each county.*
By Andy Owens
W
e have good news if you’re planning on taking a drive to see your family this holiday season using a gas-powered vehicle. A lot of people fly out of South Carolina’s airports and a lot of folks take cruises out of the Port of Charleston, but the No. 1 travel medium for most travelers this time of year is getting behind the wheel and driving. If you’re driving within South Carolina, you’re going to be buying some of the cheapest gasoline in the nation. The data show that at $2.94 per gallon, gas prices in South Carolina were down 9.5% year-over-year compared to November 2022. Additionally, the price for a gallon of regular gasoline in the Palmetto State was 37 cents less than the price nationally, which topped $3.31 per gallon in mid-November. South Carolina’s gas prices also are less than North Carolina and Florida, which both have an average price of $3.04 per gallon, but you’ll pay more than Georgia at $2.83 per gallon. Even if you stay in South Carolina, you can find vasty varying prices depending on which county you’re traveling through or where you’re filling your tank. Data from AAA Carolinas show that prices in South Carolina can vary as much as 13% among the state’s 46 counties. For example, in Hampton County, you’ll pay the highest amount on average at $3.21 per gallon, but head north toward the state line, and you’ll pay the lowest per gallon in York County, which has an average of $2.82 per gallon. We’ve created a map using U.S. Department of Energy data and data from AAA Carolinas, which closely track gas prices, year-over-year as well as day to day. AAA’s information shows that gas prices began to drop about a month before the start of the holiday driving season. This map can help you determine where you fill up so that the only gas pains you experience are from that extra slice of your aunt’s sweet potato pie.
What about EVs? An analysis of gas prices seemingly doesn’t involve a discussion of electric vehicles. However, it impacts them more than you might guess. When gas prices are high, interest in EVs tends to spike. While you can charge the smallest version of a Tesla for an average of 6 hours and about $7, Motor Trend magazine reports, most people in South Carolina prefer internal combustion engines if you consider their buying habits. EV adoption is happening, but the data show South Carolinians prefer gas burners over EVs, at least for now.
Less than 1%
Specifically, 13,490 EVs were registered in the Palmetto State last year compared to 4.25 million internal combustion vehicles, data from the U.S. Department of Energy show. That means between both categories of vehicles less than one-half of 1% of vehicles registered in South Carolina in 2022 were electric vehicles.
More than 82%
Those numbers are changing, dramatically. According to year-to-year data, the 13,490 electric vehicles registered in 2022 is an increase of 82.3% from 2021.
ON THE “To get a logo made, it’s at least $50 to $200 for a graphic designer. When the A.I.
RECORD
stuff came out, it clicked in my head that now people can create their own designs. I thought, ‘This would be good in a kiosk to be able to print people’s (design) on the spot. Ninety percent of (what I print) is A.I. art.” — Clifford Thompson, owner of Dream It Print It
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Prisma Health in Greenville opens first of 9 new urgent care centers in state
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risma Health in Greenville opened the first of several new urgent care centers planned for locations across the state. Prisma Health Urgent Care Woodruff Road opened Nov. 13, offering extended hours and walk-in health care services. Patients also can book a time online, according to a news release from the state’s largest health care organization. The Woodruff Road location and another at 322 N. Main St. in Anderson are two of nine urgent care centers planned for the Upstate and Midlands in the coming months, according to a Prisma Health spokesperson. Locations are planned in about a month for Spartanburg and Taylors and five more are on pace to open early in 2024 — one more in the Upstate and four in the Midlands. Upstate locations also include Greer, Verdae, Five Forks and Powdersville. Prisma Health Urgent Care is also open at its location within Prisma Health Baptist Hospital Parkridge in the Midlands.
COLUMBIA
Columbia Regional Business Report
Scout Motors officially takes up downtown offices in BullStreet District
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cout Motors has opened its first South Carolina office in Columbia’s rapidly growing BullStreet district. Company officials formally announced the move on Nov. 17 at Segra Park in Columbia, home of the Columbia Fireflies baseball team. The company’s announcement came with some holiday flair as a rare 1965 Scout pickup truck decorated for the holidays was on display in the baseball park’s main concourse. The new Scout offices occupy the entire third floor suite of BullStreet’s First Base Building, immediately adjacent to the park, home of the Fireflies Minor League Baseball team. The suite features multiple conference rooms, a training room and workspace for more than 175 people, according to information from the company. Twelve employees are already at work in the new offices, soon to be increased to about 30, with an eventual BullStreet workforce of about 100, according to Corey Epps, director of HR business partners for Scout Motors.
With publications in Charleston, Columbia and the Upstate, as well as a statewide magazine, SC Biz News covers the pulse of business across South Carolina. Above are excerpts from our other publications.
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South Carolina’s Media Engine for Economic Growth
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Robert Hurst accepts the Chuck Spangler Outstanding Manufacturing Lifetime Service Award from Lt. Gov. Pamela Evette. (Photo/Ross Norton)
Retired president of Bamberg company honored for lifetime achievement in manufacturing
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he retired president of Phoenix Specialty Manufacturing Co. in Bamberg was presented the Chuck Spangler Outstanding Manufacturing Lifetime Service Award during the annual SCMEP Salute to Manufacturing Awards, held Nov. 10 in Greenville. Robert Hurst was president of the company from the late 1970s until his retirement in 2017. The ceremony each year closes out the South Carolina Manufacturing Conference and Expo, presented by SC Biz News and held this year at the Greenville Convention Center. Hurst and his two brothers-in-law grew the business from one with annual sales of less than $3 million in the early days to more than $20 million at this retirement. Phoenix Specialty is a manufacturer of small specialty and precision components. During his time leading the company, Hurst invested heavily in the business, his employees, the community and the industry, Jason Thomas, executive editor of SC Biz News, said when presenting the award. Throughout the years, Hurst made sig-
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Other awards included: • Innovator of the Year Award, presented to Viatec of Piedmont. Finalists in the category were Green Energy Biofuel and Samsung Electronics Home Appliances America. • Emerging Manufacturer of the Year Award went to Xplor Boatworks of Columbia. Finalists were Print & Pine of Ridgeland and STIWA US of Fort Mill. • AFL of Duncan, a manufacturer of fiber optic cable and related products, was winner of the Outreach Award. Finalists in the category were Savannah River Nuclear Solutions and Green Energy Biofuel. • Transformation and Operation Excellence Awards were presented to TICO Manufacturing and Savannah River Nuclear Solutions. • Smart Move SC awards for new plants went to Redwood Materials Inc., Pomega Energy Storage Technologies Inc., MycoWorks Inc., BMW Manufacturing Co. LLC, The Ritedose Corp., and Canfor Southern Pine. CRBJ
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nificant investments into community grade schools and technical schools and served on many boards including: the SCMEP Board of Directors, South Carolina Regional Alliance Board of Directors, Bamberg County Economic Development Board of Directors, Bamberg County Hospital Board, and the PMA National Board of Directors. He also served as Precision Metalform Association Carolina’s District treasurer and later president during the 1990s. Hurst was chairman of the South Carolina Manufacturing Extension Partnership Board of Directors during the transition in SCMEP leadership when Chuck Spangler was promoted to president. He said one of his best accomplishments was his role in appointing Spangler to lead the organization. Spangler led SCMEP with widely praised gusto and a deft touch until his untimely death in 2021. SCMEP plays a key role in the annual South Carolina Manufacturing Conference and Expo, offering training courses to help make manufacturers better.
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CBRE relocates its downtown Charleston office By Jason Thomas
C
jthomas@scbiznews.com
BRE has announced the opening of its new 6,682-square-foot office on the ground floor of The Morris at 1080 Morrison Drive in Charleston. The company has relocated to Charleston’s North Morrison (NoMo) neighborhood from its office in Bank of America Place at 200 Meeting St., according to a news release The new office is part of CBRE’s Workplace360 program showcasing the company’s “Future of Work” space standards, including innovative technology and a wider variety of collaborative spaces designed to support hybrid working, the release stated. CBRE launched its Workplace360 program in 2013 and has since opened more than 100 Workplace360 offices across the globe, according to the release. A cornerstone of the Workplace360 model is its “free address” approach where there is no assigned seating. Instead, teams are assigned to various neighborhood work areas where they can use any unoccupied seat. As many companies move to hybrid work models, a free-address approach allows for any workstation or office to be used by any employees who are in the
The new office is part of CBRE’s Workplace360 program showcasing the company’s “Future of Work” space standards, including innovative technology and a wider variety of collaborative spaces designed to support hybrid working, the release stated. (Rendering/Provided)
office on a given day. “Our Charleston Workplace360 office is a mix of intentionally designed solo and collaborative workspaces combined with leading-edge tech that supports seamless hybrid working,” said Steve Smith, managing director for CBRE in South Carolina, in the release. “Moreover, The Morris is a gem in Charleston’s NoMo neighborhood and we’re excited to be in this growing live-work-play community.”
The office has many different work areas including a mini library, focus rooms, conference rooms, sit-to-stand workstations, a wellness room, and open collaboration areas in the lobby — known as the CBRE “Heart” — and in the neighborhood work areas, the release stated. Additionally, the integration of new technology throughout the office further supports hybrid collaboration. The living room-style conference room is equipped with an interactive
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whiteboard that can be used simultaneously by in-person and remote employees. The office also has multiple digital displays in the common areas to showcase company announcements and facilitate office events. “CBRE’s workspaces set an industry-leading standard for workplace design with environments that attract employees and clients into the office,” said Peter Van Emburgh, global head of CBRE’s corporate real estate, in the release. “In Charleston, the office is in a sought-after office development that will be beneficial for everyone in our office.” The office’s design, led by CBRE Design Collective, draws inspiration from Charleston’s rich history and natural beauty, the release stated. In that theme, the conference rooms are named after local areas, such as The Battery and White Point Garden. The interior celebrates the Morrison Drive corridor’s history, tying back to the motor industry with oversized floorto-ceiling black steel windows emphasizing natural light throughout the space, as well as a full-height fluted column with black iron sconces on each side. Additionally, green hues throughout the office tie back to the local marshes, palms and fern foliage, and the texture and color of a large terracotta breezeblock reflect the Charleston area’s coastal sunrise.
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North Charleston-made Boeing Dreamliners fly in formation for Emirates Airline. (Photo/Provided)
$52B deal leads Boeing orders on first day of Dubai Airshow By Ross Norton
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rnorton@scbiznews.com
he first day of the Dubai Airshow brought a stream of sales for Boeing Co., including a $52 billion deal with the host country’s Emirates Airline. Boeing and Emirates announced that the world's largest 777 operator has placed an order for 90 777 airplanes, including 55 777-9 and 35 777-8 jets, according to a news release from Boeing. The new order, which increases Emirates' 777 family backlog to 205 planes, was announced during the Dubai Airshow at a signing event attended by His Highness Sheikh Ahmed bin Saeed Al Maktoum, chairman and chief executive of Emirates Airline and Group, and Stan Deal, president and CEO of Boeing Commercial Airplanes. Also on the first day of the airshow, Boeing inked deals for the North Charleston-based 787 Dreamliner with Royal Jordanian, flydubai and North Africa carrier Royal Air Maroc. Day two of the show brought a deal with Ethiopian Airlines. The 777 program is based in Washington state. The 787 program is based in North Charleston. In addition to its new orders, Emirates updated its 787 Dreamliner order book to better align future capacity to demand, the news release said. The airline is buying five more 787 jets — growing its 787 backlog to 35 — while converting 30 787-9s to 20 787-8 and 10 787-10 airplanes.
"Emirates is the biggest operator of Boeing 777 aircraft, and today's order cements that position," Sheikh Ahmed bin Saeed Al Maktoum, said in the release. "We've been closely involved in the 777 program since its start up until this latest generation of 777X aircraft. The 777 has been central to Emirates' fleet and network strategy of connecting cities on all continents non-stop to Dubai. We are pleased to extend our relationship with Boeing and look forward to the first 777-9 joining our fleet in 2025." Boeing's relationship with Emirates dates back to the airline's first 777 order in 1992. Today, Emirates has nearly 150 777 jets in its fleet, according to the release. Based on the most successful twin-aisle airplane ever, the 777, the 777X family is designed to maximize efficiency and environmental performance by 25%, while providing an exceptional onboard experience. "This order is an incredible vote of confidence in Boeing's highly efficient widebody family and the versatility of our 777X and 787 airplanes to meet Emirates' needs for global long-haul travel," Deal said in the release. "The 777-9 and 777-8 are the perfect airplanes to support Emirates' growth, improving environmental performance and unmatched payload capability along the way." The order from flydubai is for 30 787-9 Dreamliners that the Dubaibased carrier said will diversify its fleet so that it can open new routes and grow capacity on existing routes.
"In 2008 when we placed our first-ever order for 50 Boeing 737 aircraft, we were confident of the vital role flydubai would play in supporting Dubai's aviation hub," said His Highness Sheikh Ahmed bin Saeed Al Maktoum, who also is chairman of flydubai. "I am proud today to see flydubai evolve further, surpassing labels and challenging the traditional conventions around travel. Today's order reaffirms flydubai's commitment to enabling more people to travel across its expanding network. The highly fuel-efficient Boeing 787 Dreamliner will allow flydubai to expand its horizon and cater to the growing demand on existing routes." "Innovation is at the heart of everything we do at flydubai. We are committed to offering the right product at the right time to cater to the changing market and customer needs," Ghaith Al Ghaith, CEO at flydubai, said in the release. "The Boeing 787 Dreamliner offers a perfect combination of operational excellence, fuel efficiency as well as passenger appeal." Flydubai currently operates an all737 fleet of 79 airplanes. The airline has an order backlog of 137 737s. Royal Jordanian ordered four 787-9 Dreamliner jets as the airline expands and modernizes its widebody fleet. Jordan's flag carrier also reconfirmed at the Dubai Airshow a previous order for two 787-9s, bringing its total 787-9 backlog to six, according to a separate news release. "Our decision to add the 787-9 Dreamliners to our fleet is a testa-
ment to our dedication to providing an unparalleled travel experience," Samer Majali, vice chairman and CEO of Royal Jordanian, said in the release. "This move aligns seamlessly with our broader strategy of fleet modernization, emphasizing fuel efficiency, sustainability and passenger comfort. As we embark on this journey, we are confident that the Dreamliner's cutting-edge technology will play a pivotal role in elevating our operational capabilities." Boeing Global Services will also provide modification services for Royal Jordanian's in-service 787s that will enhance in-flight connectivity for passengers and crew. As part of the agreement, Boeing will perform the engineering work, while supplying kits for the Royal Air Maroc placed a repeat order for the 787 Dreamliner, confirming two 787-9s in its order book as the airline grows its widebody fleet. The carrier currently operates nine Dreamliners. "The two Boeing 787-9 Dreamliners will enable Royal Air Maroc to expand in the short-term its longhaul network in response to the highly favorable market conditions in 2023," said Abdelhamid Addou, chairman and CEO, Royal Air Maroc. "Simultaneously, the company is actively pursuing a significant tender to quadruple the fleet before 2037." Royal Air Maroc has added to its widebody airplane count with a mix See BOEING, Page 7
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BOEING, from Page 6
of 787-8s and 787-9s over the last nine years. This order was previously unidentified on Boeing’s Orders & Deliveries website. "The 787 Dreamliner is perfectly suited to support Royal Air Maroc's growth and modernization plans," said Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing. "Boeing's relationship with the airline spans more than five decades, and we look forward to more opportunities to strengthen our partnership with Royal Air Maroc." Royal Air Maroc is the national carrier of Morocco. The second day of the Dubai Airshow brought more work for North Charleston Boeing employees when Ethiopian Airlines agreed to order 11 Dreamliners from the Lowcountry production line. The African carrier’s agreement also provides an option to purchase 15 additional 787 Dreamliners. The company also is buying 20 of Boeing’s Washington-made 737 MAX planes with an option for 21 more. It is the largest-even purchase of Boeing planes by an African carrier, according to a news release. The value of the deal was not disclosed. We are pleased to announce that Ethiopian Airlines has reached a deal with Boeing to place a firm order for 31 ultra-modern airplanes, with opportunity for 36 additional jets," Ethiopian Airlines Group CEO Mesfin Tasew said in the news release. "This order will enable us to modernize and increase our fleet in support of Ethiopian Airlines' growth plan and our Vision 2035 Strategy. Through this deal, we have solidified our decades-old exemplary business partnership with Boeing. The 787 Dreamliner and 737 MAX demonstrate Ethiopian Airlines' environmentally conscious decisions and its commitment to serve passengers with the latest technologically advanced airplanes." Ethiopian Airlines is ordering the 787-9 variant, part of a Dreamliner family that reduces fuel use and emissions by 25% compared to the airplanes it replaces, the release stated. The carrier also is adding the 737-8 model, which reduces fuel use and emissions by 20% and creates a 50% smaller noise footprint compared to the airplanes it replaces. Both families bring better environmental performance and passenger comfort to their respective markets, according to Boeing. Ethiopian Airlines is working to strengthen and diversify its fleet, which currently includes more than 80 Boeing jets. Ethiopian operates Africa's largest Dreamliner fleet with a mix of 787-8s and 787-9s. The new
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737 MAX order, which will grow the airline's backlog for the fuel-efficient jet to 50, will be posted on Boeing's Orders & Deliveries website when finalized. Boeing and Ethiopian Airlines also agreed to work together to provide cabin modification services for the carrier's existing 787 Dreamliners. The comprehensive retrofits will enhance the passenger experience with advanced in-flight entertainment and new seats in all cabins, including lieflat business-class seats from Boeing joint venture Adient Aerospace. "Ethiopian Airlines continues its leadership as one of Africa's preeminent airlines with this landmark commitment to expand their 787 and
737 MAX fleets," Brad McMullen, Boeing senior vice president of Commercial Sales and Marketing, said in the release. "Ethiopian was the first African airline to take delivery of the 787, and the Dreamliner family continues to play an integral role in its long-haul fleet. With their decades of experience operating our single-aisle and widebody jets, we appreciate Ethiopian Airlines' confidence in our products and the strength of our relationship after more than 75 years of collaboration." Boeing's 2023 Commercial Market Outlook forecasts widebody airplanes will comprise 45% of deliveries to Middle East airlines over the next 20 years – the highest regional
percentage worldwide. Many airlines in the region provide service between major global population centers and as a result, a higher proportion of widebody aircraft are needed to carry larger passenger volumes. Boeing South Carolina is home to the 787 Dreamliner program. The North Charleston team fabricates, assembles and delivers the 787-8, 787-9 and 787-10. In addition to the production facilities, Boeing South Carolina is home to Boeing Research & Technology, IT Center of Excellence, Propulsion Systems, Interiors Responsibility Center and Engineering Design Center. More than 300 companies are suppliers to Boeing South Carolina. CRBJ
“LS3P brings a history of 60 years of design excellence to communities across the Southeast. With a visionbased commitment to create architecture that enriches community, our mission is simple – engage our clients and communities to design meaningful places with proven results that transform. We are proud to have SouthState as our financial partner working through leadership and volunteerism toward the shared mission of building strong, vibrant communities throughout the Southeast.”
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Logistics company invests $16.45M in new facility By Jason Thomas
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jthomas@scbiznews.com
ronLink Logistics, a logistics service company, is growing its East Coast presence by establishing operations in Charleston County. The $16.45 million investment will create 250 new jobs, according to a news release from the Charleston County Economic Development Department. The company has three West Coast facilities in California — two in Ontario and one in Chino, according to the release. The new 340,000-square-foot building located at 6880 Weber Blvd. in Ladson gives IronLink a Southeast presence. The other East Coast operations are in the New Jersey towns of Florence and Burlington. “We are thrilled to announce that IronLink Logistics has chosen Charleston, South Carolina, as the hub for our operations, utilizing the strategic advantages of the port to enhance our logistics capabilities,” IronLink owner and CEO David Dembitzer said in the release. “The vibrant community and dynamic economic environment of Charleston align seamlessly with our values and growth aspirations. As we integrate into this beautiful city, we look forward to forging strong partner-
IronLink Logistics has selected Charleston as its hub of operations. (Photo/Provided)
ships, contributing to the local economy and becoming an integral part of the Charleston community. “Together, we are poised to embark on an exciting journey of mutual growth and success.” IronLink, a leading third-party logistics (3PL) provider, offers a comprehensive range of transportation, warehousing, and distribution services to a diverse customer base of industries and product sectors, the release stated. The company handles various aspects
of the supply chain, including inventory management, order fulfillment, and freight transportation from port and outbound freight worldwide. “Ironlink Logistics’ presence will boost economic growth and enhance the efficiency of our logistics network,” Charleston County Council Chairman Herbert Ravenel Sass III said in the release. “With 250 new jobs on the horizon, IronLink's investment is set to have a transformative impact on the supply chain in Charleston County,
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solidifying our reputation as a hub for innovation and advancement.” Operations will be online by the end of this year. “We welcome IronLink Logistics and anticipate the far-reaching benefits their logistics presence will bring to our community — from job creation to a further enhanced supply chain ecosystem,” Charleston County Economic Development Executive Director Steve Dykes said in the release. The Charleston facility will give the company more than 800,000 square feet of warehouse storage space companywide, including 300,000 square feet in California. “Logistics, especially the supply chain, is an integral part of our state’s economic framework,” S.C. Secretary of Commerce Harry M. Lightsey III said in the release. “By establishing operations in Charleston County, IronLink gives South Carolina businesses an additional tool for moving products globally.” "With Charleston having the deepest port system on the East Coast, this new operation brings tremendous opportunities to IronLink,” Gov. Henry McMaster said in the release. “We welcome the company to South Carolina and look forward to many years of a successful partnership.” CRBJ
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December 4 - January 14, 2024
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ometimes, things come full circle. Such is the case for the Profiles in Business feature. We decided to resurrect this concept on the following pages, which originated not long after the launch of Charleston Regional Business Journal in 1995. We were hearing from businesspeople in the community asking to include stories about their company. Our typical reply was, “we don’t do that unless you do some-
thing we can report as news.” At the time, many of the same people were asking if they could hire our advertising copywriters to produce pieces they could use in brochures and marketing materials —but we were always too busy putting out the journal. It finally dawned on us: Why not combine the two? So, we did. The last time we ran the Profiles in Business feature was in late June 2022. Remember that full-circle thing? Here we are, resurrecting
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what was originally a great idea. The seven profiles inside will give you a a glimpse into how are companies have handled a post-COVID economy that is still finding its footing, and how these companies help fuel South Carolina’s economy. Here’s to the return of a celebration of South Carolina’s business success. Jason Thomas is the executive editor of SC Biz News. Reach him via email at jthomas@scbiznews.com.
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Lowcounrty surgeon hopes to model opportunies
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D WHAT IS YOUR PROUDEST ACCOMPLISHMENT? My proudest accomplishment was being selected for the Seacoast Church "Love People" award of 2020. To me, success isn't about how much money I make. It's about making others feel encouraged, loved and welcomed. WHAT IS THE BEST CAREER ADVICE YOU HAVE EVER BEEN GIVEN? My sister once told me, "Life isn't always greener on the other side. It's greener where you water it." I also had a mentor instill in me that a I shouldn't be insecure because of my age or lack of experience, but rather be empowered by the positions of leadership I've been asked to step into. Reprinted by EnVeritas Group with permission from Charleston Regional Business Journal . www.enveritasgroup.com | KA120821
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r. Shasta Henderson is a force. Of the nearly 20,000 orthopedic surgeons in the U.S., only 6.5% are women and around 2% are Black, with Black, female surgeons making up less than 1%, according to reports by the American Academy of Orthopedic Surgeons and Yale School of Medicine, respectively. Henderson is the 10th Black female orthopedic trauma surgeon to enter the industry in the U.S. and she works at Trident Health in North Charleston. “It’s 2021. Who knew?” she said. Excited, not deterred by this statistic, the surgeon is working to bridge the gap with both women and minorities, hoping when they see her, they see opportunities for themselves in the field. “I always find great joy in the shock and awe of when I walk in the room and say, ‘Hey, I’m Dr. Henderson, and I’m an orthopedic surgeon,” she said. “Sometimes I’m met with a look of surprise, and I welcome that. It’s good. It’s a change that’s happening in the world, that’s happening here.” Growing up with both her parents working in a health care field, Henderson felt destined to follow in their footsteps.Her mother worked on the administrative side and ran several federally qualified health care centers, while her father was a gastroenterologist. Henderson remembers
Dr. Shasta Henderson sees being one of the few Black female orthopedic surgeons in the country as an opportunity to model her profession for those who might not have considered the possibility. Photo Provided
spending weekends as a little girl making rounds with her father, and was impacted by the way he was always there for patients in times of need. A Division I college basketball career at Barnard College of Columbia University and a sports injury led her to orthopedics in particular. She was impressed with how involved her doctors were and how they literally and figuratively helped patients back on their feet. After graduation, Henderson moved to Winston-Salem, N.C., where she attended Wake Forest
School of Medicine. It was there she fell in love with fracture care, the “bread and butter of ortho care,” as she put it. Orthopedics was the best way for her to work with her hands and intervene on the worst days of patients’ lives. “No two fractures are the same and every case presents its own unique complexities, but also opportunities for fixation,” she said. “It’s a very artistic puzzle that you can piece back together and mend with plates and screws, getting peo- ple back to function and doing what they love.”
enveritasgroup.com Enveritas is the exclusive reprints and logo licensing partner for Charleston Regional Business Journal
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SPECIAL ADVERTISING SECTION
December 4 - January 14, 2024
HRP
HRP Marks 40 Years of Protecting Human Health & the Environment Planning meeting at former textile mill.
For 40 years, the consulting engineers at HRP Associates have worked with clients to assure that they move their environment forward. Its mission is to minimize the environmental risks associated with a wide range of clients and their projects, and help them reach their intended business goals. “At a macro-level, there are two segments to our business,” explains Shaun Malin, Principal and Regional Manager for the South. “On the proactive side, we assist with environmental regulatory compliance (think planning, permitting, engineering and training) for a great cross-section of markets, including commercial and industry, education, healthcare, government and more. On the reactive side, we assess, investigate and remediate environmental impacts stemming from historic business operations. This could be a chemical spill, underground storage tank leak or redevelopment of a brownfields.” A brownfield is a property that is impacted environmentally from previous operations that is then remediated, redeveloped and given new life. It is estimated that there are more than 450,000 brownfields in the U.S. Several of HRP’s nine offices across the country are physically located within brownfield development projects, including Malin’s home office in Judson Mill in Greenville, SC., which was a former Milliken textile mill. “We’re proud to have kept the beauty and integrity of our new office at Judson Mill. The exposed wood and brick evident throughout the space make it an easy place to work and thrive for our staff.” As Malin explains, one of HRP’s most significant brownfield projects recently was assisting a property owner in the remediation of PCB’s and elevated lead concentrations at a 100-year-old scrap yard. Because of the level of contamination, HRP had to work with both state and federal agencies. “We successfully helped the property owner mitigate the environmental risks of a seven-acre
Shaun C. Malin, PG — Principal & Regional Manager
property, which in turn led to its purchase from a third party. It is currently undergoing redevelopment into an attractive and profitable entity within a resurgent downtown area,” he says. HRP constantly strives to achieve new and better methods for a project’s successful completion, with a heavy emphasis on a collaborative, unique approach. Its engineering consultants do this by listening carefully to a client’s concerns, innovating new ideas and processes internally and by implementing solutions that are flexible, effective and sustainable. “The strength of HRP is understanding where the guardrails are and thinking outside the box. We bring our clients to the table with a regulatory agency to find common ground to move projects forward,” says Malin. This mid-size firm with some 130 employees was in a growth mode before the pandemic, specifically in the Southeast. Early on, the company made a commitment to retain all of its employees throughout the pandemic. And after a slight pause, HRP is once again making moves to expand its footprint across the country. “We continue to grow and expand our service sectors,” Malin concludes. “We’re committed to responsiveness, quality service, being nimble and an overall client experience. That’s been our approach since 1982. It’s baked into the cake.”
We’re committed to responsiveness, quality service, being nimble and an overall client experience. Shaun Malin
HRP was founded on the principles of protecting human health and the environment; 40 years later, the multi-disciplinary environmental and engineering consulting firm remains true to its mission.
701 Easley Bridge Road The Annex, Suite 4130 Greenville, SC 29611 Before photo of brownfield redevelopment project.
3300 West Montague Ave. The Runway, Suite 209 North Charleston, SC 29418
800-752-3922 | hrpassociates.com
December 4 - January 14, 2024
SPECIAL ADVERTISING SECTION
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CHARLESTON COUNTY ECONOMIC DEVELOPMENT
Charleston Strong: CCED Reflects on 30 Years Promoting Solid Growth Caption
Thirty years ago, Charleston was dealt a tremendous setback when its Naval Base closed, resulting in the loss of some 22,000 jobs. Realizing the need to quickly pivot and explore new ways to make up for lost revenue, a group of leaders formed Charleston County Economic Development. Its mission was to foster a diverse business community by attracting, retaining and growing a number of major industries. The results have been impressive, with CCED’s efforts contributing $18 billion annually to the Charleston County economy, according to its recent Economic Impact Study. In celebration of its 30th anniversary this year, CCED reflects on its many accomplishments, and predicts even more growth ahead for the thriving market it serves. “Looking back to 1993 and where we stand now, I am filled with immense pride,” says CCED Executive Director Steve Dykes. “Through the department’s proactive initiatives and cultivating a welcoming business climate, we have fostered a vibrant and multi-faceted economy that has significantly enhanced the well-being of Charleston County’s residents.” “CCED has worked directly with companies that have collectively facilitated over 39,000 direct jobs and $6.9 billion in capital investment,” points out Dr. Joseph C. Von Nessen, Research Economist at the University of South Carolina’s Darla Moore School of Business, who conducted the Economic Impact Study. Caption
The study’s findings highlight the importance of Charleston County to the
L to R: Kip Watson, Ashley Richardson, Jay Kramer, Steve Dykes, Gene Borzendowski, Lauren Ellis, Scott Kirby, Dayton Ward
state’s economy and serve as a reminder of the county’s strong potential for growth and development. Additional key findings include: • The 72,018 jobs generated through CCED-affiliated activities pay an average wage of $82,874. • 43 percent wage premium for jobs generated either directly or indirectly through CCED-affiliated business activities in Charleston County compared to the average job there. “Charleston County represents a major economic success story for the state of South Carolina in which CCED has played an integral part,” Von Nessen explains. “A key ingredient to the county’s success has been CCED’s ability to help attract a diverse industry base, which leads to higher and more consistent rates of long-run economic growth.” To accompany the primary economic drivers of military and tourism, the diversification of the industries recruited by CCED is impressive: advanced manufacturing, aerospace, automotive logistics, defense, IT and life sciences. Dykes is excited to report that in Charleston County in the coming months, Boeing will manufacture more of its 787 planes, and Mercedes-Benz Vans will produce its electric Sprinter. “From the beginning, we’ve emphasized nurturing existing companies, which create the lion’s share of the jobs,” Dykes explains. CCED nurtures and supports these businesses through its Business Concierge Program. This program assists established companies with a wide range of services, financial incentives and valuable networking opportunities. In looking ahead, Dykes does say CCED will work hard to attract start-ups as well. “We’re partnering with several local organizations directly involved with this vibrant sector of entrepreneurs.” After 30 years of hard work attracting and nurturing an impressive roster of businesses that call Charleston home, CCED continues to evolve its blueprint for success. As Steve Dykes concludes, “The future looks extremely bright.”
4922 O’Hear Ave. Suite 201 North Charleston, SC 29405 843.958.4511 www.charlestoncountydevelopment.org
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SPECIAL ADVERTISING SECTION
December 4 - January 14, 2024
ENCORE BANK
Encore Balances Modern Banking with Personal Touch Service As a private, concierge, boutique style bank, Encore opened its Charleston office in August of 2022.
Customers walking through the doors of Encore Bank are treated to an experience like no other. Instead of long lines and restrictive glass, there are chic, open and inviting spaces that showcase hospitality, and even more importantly, welcome collaboration.
“We balance the modern banking experience with old-fashioned customer relationships,” he says. “Success is being able to make quick decisions to meet our client’s needs – while avoiding some of the traditional, restrictive bank traps.”
“Our offices reflect the change in the industry away from the transactional side of banking,” says Fallon Meyer, Charleston Market President. “Here, we focus more on building shareholder value and providing an unmatched customer experience.”
Often people don’t realize there’s a better option, Sharpton adds. “Encore Bank wants to be a better resource and provide a better option largely centered on communication and responsiveness.”
As Meyer explains, Encore prides itself on a different measure of success than most other banks. “We are not trying to be the largest bank in town, and we’ll never take the yardstick of our success against market share.” Rather, Encore is driven by the people and communities it serves, and believes banking can be built differently. Modern boutique banking should afford each account owner options for banking the way they want to bank – whether searching for mobile technology with on-the-go ease, or a friendly face at a neighborhood branch, Meyer says. As a private, concierge, boutique style bank, Encore opened its Charleston office in August of 2022, and soon plans to add Greenville to its list of locations scattered throughout the south. Michael Sharpton, Carolinas Regional President, says a number of favorable demographics made Charleston and Greenville ideal choices for Encore. There’s a continued boom in new residents, incredible job growth and a very strong ‘pro business’ climate. “The business community here is very educated about the ‘state of our state.’ People want to come here and establish or expand their companies,” he points out. Encore’s results to date are impressive. The bank has attracted nearly 300 deposit customers for just over $40 million in deposits in the state of South Carolina. There are also 70 borrowers for some $245 million in booked loan commitments, and Sharpton sees further growth ahead.
Encore Bank offers chic, open and inviting spaces that showcase hospitality and welcome collaboration.
Its carefully chosen staff plays a major role in that mission. As Encore entered the Carolinas, that staff was an experienced group that in many cases, had worked with each other for a decade or more. Encore is proud of their professionalism and expertise, but the value of this comradery extends beyond the walls of the bank. Each team member helps foster a strong sense of community – a guiding principle for each of Encore’s carefully selected locations. The bank encourages and supports the staff’s wide ranging volunteer activities, and hosts a number of community events throughout the year.
We balance the modern banking experience with old-fashioned customer relationships. Michael Sharpton
Encore prioritizes the customer experience through its people and the service it provides, as well as in the sophisticated technology tools it offers. “At the end of the day, banking is about loans and deposits. But we want to provide the necessary personal touch that has gone missing from way too many banks today,” Meyer concludes.
CHARLESTON 1859 Summerville Ave., Suite 200 Charleston, SC 29405 843-256-8953
GREENVILLE* 115 S. Marley St., Suite A Greenville, SC 29601 864-584-7372 *Opening January 2024
www.bankencore.com
December 4 - January 14, 2024
SPECIAL ADVERTISING SECTION
www.charlestonbusiness.com 13
HTI
HTI’s Business Model Uses Retention as Their Lens to Attract the Right Talent The HTI Job Mobile – Bridging the gap between employers and job seekers.
As leaders and business owners, we all cringe at the thought of turnover. In fact, by losing just one high-performing employee, a company can expect to spend 50% or more of their salary finding a replacement. This stark reality is just one of the driving forces behind the success of HTI, a full-service, comprehensive human resource firm focused on helping companies attract and retain talent. Founded in the Upstate of South Carolina in 1999, HTI has grown exponentially and now works with employers – both large and small – across the Southeast and beyond. “Employers partner with us because we believe in finding – and keeping – the best people, from entry-level to top-tier management,” explains Ashley Brooks, Vice-President of HTI’s Workplace Strategies division. “We don’t simply want to help fill a job; we want to discover and leverage what makes a particular company an employer of choice.” It’s very common for employers to engage recruiting firms to fill jobs. However, we see time and time again, those recruiting firms are simply checking the box of filling an opening. And on goes the perpetual cycle of a constant churn of new hires – never stopping to ask why that opening exists in the first place. Unlike most competitors, HTI is certified in and utilizes many cutting-edge tools to ensure that organizations are making the right hire from the onset. One example is the Predictive Index, a behavioral assessment criterion validated for making better hires, increasing employee engagement, and building high-performing teams. Another is HTI’s Lead the Way program – designed to teach leaders to manage more effectively. These and many other unique tools have contributed to HTI’s proven track record of excellence in workforce and project management, earning both local and international awards and recognition.
Ashley Brooks, Vice-President of HTI’s Workplace Strategies division
Brooks proudly states that, “HTI measures its success first and foremost on customer satisfaction and client retention. We have an independent quality department that conducts customer service audits regularly and makes recommendations on how HTI could elevate its customer experience even more. We don’t just preach – we practice. “Our labor strategy and HR consulting business arms have exploded in recent years as a result of the struggles that the market presents right now, including competing for a small pool of top talent and navigating the skills gap,” Brooks explains. “Companies are recognizing the necessity in taking a step back, learning hard truths, and analyzing their attraction and retention strategies much more intentionally than we’ve ever seen before. “At the end of the day, we want employers to know that we understand. We live this daily and face a lot of the same struggles that you do,” shares Brooks. “Our expertise covers a wide range of industries – including automotive and pharmaceutical manufacturing as well as small businesses, including law firms and utility companies. There is one constant in every organization, no matter the industry – people. And when you invest in your people, your people invest in you.”
105 North Spring Street, Suite 200 Greenville SC 29601 864.385.7122 website? Two-thirds of employees cite training and development as their top motivational factor at work. Meet HTI’s Tier 1 Leadership Development Program Graduating class of 2023!
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SPECIAL ADVERTISING SECTION
December 4 - January 14, 2024
LOW COUNTRY CASE & MILLWORK
Low Country Case & Millwork Soars to New Heights LCCM’s 52,000 square foot facility in Ladson, SC
A firm commitment to quality – in product, service and culture – has ushered in record-setting growth for Low Country Case & Millwork. Founded by Robert Stasiukaitis in 1990, LCCM offers manufacturing and installation of high-end custom cabinetry and architectural millwork, as well as state-of-the-art medical/institutional casework. Its distinctive look can be seen in major hotels, hospitals, schools, offices and even churches throughout Charleston and the surrounding communities. With its reputation for an exceptional product and unrivaled customer service well established, son David Stasiukaitis, CEO, took a path some four years ago that sent the company on an extraordinary trajectory. “The people of LCCM are the biggest reason for our recent success,” he explains. “We experienced explosive growth when we began to focus on our company culture and empowering our team members.” During a particularly trying time, David began speaking with workplace strategist Liz Ashley, whose company, Align, is based in Charleston. Align helps companies navigate day-to-day interpersonal workplace challenges by developing talent, training leaders on how to lead and advancing organizational culture. David knew that enriching and nurturing the culture at LCCM had the potential to reap tremendous benefits – but even he was shocked at how profitable the decision has been. When David joined his father in the business 17 years ago, LCCM was doing approximately $3 million in business a year. By 20202022 it was averaging $7 million annually, and this year, that number will exceed $11 million. “We are into eight figures for the first time in company history – clearly our best year ever,” David says proudly. “This is certainly an important milestone for us.” Paralleling this growth in revenue is the company’s significant facilities expansion – moving from the modest 4,000 sq. ft.
LCCM’s Senior Leadership Team; Paul Stasiukaitis, Amanda Harrell, Amy Stasiukaitis, Brandon Blake, & Ken Hibner
Father & Son, Founder & CEO, Robert & David Stasiukaitis
Robert began with, to now boasting a 52,000 sq. ft. facility divided into four separate divisions: cabinetry, millwork, finishing and a climate-controlled shipping department. LCCM is also constantly upgrading machinery and technology to stay on the cutting edge of the industry and maintain its top-tier quality. Rich in talent, many of LCCM’s close to 60 team members have been with the company for a decade or more. As David explains, all have embraced the attention being paid to workplace atmosphere and their personal development and well-being. LCCM assesses each new hire after 60 days, and utilizes tools such as Everything DiSC® applications to guide employees in recognizing their emotional intelligence potential, resolving productive conflict, improving working relationships and turning destructive behaviors into constructive attributes. “Early on in our cultural journey, we established a firm set of core values, which empower everyone to make their own decisions based on these principles,” David says. “And one of them is Damn Good Product! “As a result of each of these important initiatives, our product, processes and performance have been significantly enhanced,” David adds.
The people of LCCM are the biggest reason for our recent success. David Stasiukaitis
Still an active member of the company he founded, Robert serves as a “hands on” point person, meeting with clients, taking measurements, checking quality and doing design work. “We’re extremely proud of the foundation he has built and continue to work hard to find new and innovative ways to move the company forward,” says David.
4144 Carolina Commerce Pkwy. Ladson, SC 29456 843.797.0881 www.LCCM.com
December 4 - January 14, 2024
SPECIAL ADVERTISING SECTION
www.charlestonbusiness.com 15
NEAL BROTHERS
Neal Brothers Credits Team Members, Loyal Customers with its Century of Success Logistics is its business, but people are at the heart of Neal Brothers’ successful multi-national cargo handling and export packing company. With a heralded legacy of more than a century of experience, Neal Brothers is also rich with people power; the company boasts a talented and dedicated work force some 100 strong – the largest it’s ever been – a family ownership team, and a growing roster of loyal customers that now spans generations. “Our team means everything to us,” Harry Griffin, the company’s senior vice-president proudly explains. “Without them we wouldn’t be anywhere near where we are today.” Their efforts were never more important than during the pandemic, when Neal Brothers worked hard every day to keep its doors open and its people safe. Its employees played an active role in transporting vital mitigation supplies, along with its regular freight, throughout. “We’ve never had to search very far for good people; we’re fortunate to have so many great local candidates that want to come join the Neal Brothers family,” says Griffin. This focus on the human side of business extends to the company’s customer base as well. “They are just as important to our team as our employees. Many have been with us for over 20 years, and are now into the second generation. We work hard to instill this same long-term philosophy to new customers as well. It’s important for us to show every customer love and care so they know their cargo will be in good hands,” Griffin explains. Neal Brothers prides itself on an exceptional level of customer service and a zero-damage commitment; this has led to a steady increase in demand and growth. “Our mission is to provide every client with a level of service that can’t be matched by our competitors,” Griffin says with confidence.
First Annual Reagan Gala - Hibernian Hall 11/8/23 with South Carolina Governor Henry McMaster.
Firmly entrenched in the thriving ports of Charleston and Savannah, Neal Brothers focuses on complete packing services including distribution, freight station services such as flat rack stuffing and stripping, pick-and-pack and cross docking. Besides its growing workforce and customer base, Neal Brother has significantly expanded its space as well – going from 10,000 sq. ft. in Charleston originally, to now, over two million square feet. Neal Brothers is proud to call the Southeastern U.S., one of the fastest growing business regions in the country, its home. “Our customers value shipping through these two vital cities; this in turn, allows Neal Brothers to be successful,” Griffin says. Another strong component to the Neal Brothers story is its active role in giving back to the local communities. The company has a long history of investing time and money to a number of initiatives, and has donated tablets to schools, and turkeys and Christmas presents to the less fortunate in its surrounding communities. “We take special care of our young people, knowing that they can be successful members of our team in future years,” Griffin explains.
It’s important for us to show every customer love and care so they know their cargo will be in good hands.
Export Packing, distribution Harry Griffin and ware-housing a wide range of goods continues to be the driving force at Neal Brothers – only made possible because the people behind the scenes complete each job with an unsurpassed level of excellence established through decades of hard work.
1255 Necessary Lane Charleston, SC 29405 843.554.0007 www.nealbrothers.com
WESTERN ORANGEBURG COUNTY INDUSTRIAL PARK 16
SC Highway 389/321, Neeses, SC, SPECIAL ADVERTISING SECTION
www.charlestonbusiness.com
December 4 - January 14, 2024
29107
ORANGEBURG COUNTY DEVELOPMENT COMMISSION
OCDC Invites Businesses to Explore & Grow with New Industrial Park The Orangeburg County Development Commission is extending an invitation to businesses to explore the many opportunities at its developing Western Orangeburg County Industrial Park. As a prime location for industrial development, the 232± acre park features a 75-acre graded building pad and easy access to both I-20 and I-26. The site also boasts direct access to the CSX main rail line and has an elevated water storage tank already at the site. As OCDC Executive Director Merle Johnson explains, its principal advantage lies in the availability of land that has already been cleared and is ready for immediate construction. “Additionally, I’m thrilled to share that a new 50,000 square foot speculative building is currently under construction at the park,” Johnson says. “This state-of-the-art facility will offer an excellent opportunity for industries looking for turnkey solutions.” While it maintains an open invitation to a diverse range of industries and businesses, OCDC is particularly interested in attracting companies within the light manufacturing and logistics sectors. “We believe these industries can optimally leverage the unique advantages offered by the park and substantially contribute to the economic growth of our community,” adds Johnson.
Western Orangeburg County Industrial Park
Besides its prime location and readiness for construction, the well-establishedCOPYRIGHT infrastructure of the park provides a solid founda2020 CENTRAL SC ALLIANCE / ALL RIGHTS RESERVED tion for growth. This in turn, offers a great opportunity to market for industries that can leverage adjacency to CSX main rail line and companies in surrounding areas seeking expansion opportunities that are currently leasing space and looking to own. Industries, factories and businesses assume a pivotal role in bolstering the economic well-being of small communities such as Orangeburg County, Johnson explains. They facilitate job creation, stimulate local commerce and contribute to the tax base, which in turn, sustains essential community services, fuels infrastructure enhancements and elevates the overall quality of life for its residents. “By choosing to invest in Western Orangeburg County Industrial Park, you’re not merely selecting a location; you’re embracing a vibrant and welcoming community,” Johnson adds. “We are unwavering in our dedication to your success and stand ready to partner with you to transform your vision into a reality. We extend an invitation to become an integral part of our growth narrative and contribute to a prosperous future together.” Founded in 1955, OCDC fulfills a pivotal role in nurturing economic growth and community development across Orangeburg County. Its suite of services includes site selection assistance, business incentives, workforce development programs and strategic partnerships. These services collectively empower businesses and industries to establish, expand and thrive in its county. Ten years ago, OCDC had a handful of industrial parks; today that number has grown to 11.
ultimate goal is to foster job creation, stimulate the local ORANGERBURG COUNTY SPECULATIVE“Our economy and elevate the overall quality of life for our residents,” Johnson concludes. L BUILDING
neering, Inc 75,000 sq. ft. graded building pad at Western Orangeburg County Industrial unty Industrial Park Park| Photo: Alliance Consulting Engineering, Inc. 29118
TURAL SHEET INDEX
ND DESIGN CRITERIA CIAL INSPECTIONS N WALL PLAN L PLAN AN RAMING PLAN UTS
SLAB TYPICAL DETAILS L DETAILS PICAL DETAILS AILS
NUMBER A-001 A-050 A-101 A-101A A-101B A-101C A-101D A-121 A-151 A-151A A-151B A-151C A-151D A-152 A-201 A-301 A-351 A-352 A-512 A-601
ARCHITECTURAL SHEET INDEX MECHANICAL SHEET INDEX New 50,000 sq. ft. Building at Western Orangeburg County Industrial Park | Photo: Alliance Consulting Engineering, Inc.
NAME CONSTRUCTION SUBSYSTEMS OVERALL SITE PLAN (BUILDINGS) FLOOR PLAN - OVERALL PARTIAL FLOOR PLAN - AREA A PARTIAL FLOOR PLAN - AREA B PARTIAL FLOOR PLAN - AREA C PARTIAL FLOOR PLAN - AREA D REFLECTED CEILING PLAN- OVERALL ROOF PLAN- OVERALL ROOF PLAN- AREA A ROOF PLAN- AREA B ROOF PLAN- AREA C ROOF PLAN- AREA D ROOF DETAILS & EXTERIOR STAIR BUILDING ELEVATIONS BUILDING SECTIONS & ENLARGED ELEVATIONS WALL SECTIONS WALL SECTIONS MISC. DETAILS DOOR SCHEDULE & DETAILS
NUMBER M000 M101
NAME MECHANICAL - LEGEND, ABBREVIATIONS, NOTES & SPECIFICATIONS MECHANICAL - HVAC PLAN - OVERALL
PLUMBING SHEET INDEX NUM BER NAME P000 PLUMBING - LEGEND, ABBREVIATIONS, NOTES & SPECIFICATIONS P101 PLUMBING PLAN - OVERALL
FIRE PROTECTION SHEET INDEX NUMBER FP000 FP101
NAME FIRE PROTECTION - LEGEND, ABBREVIATIONS, NOTES AND SPECIFICATIONS FIRE PROTECTION - PLAN - OVERALL
NUMBER E000 E101
NAME ELECTRICAL - LEGEND, ABBREVIATIONS, NOTES & SPECIFICATIONS ELECTRICAL PLAN - OVERALL
ELECTRICAL SHEET INDEX
Carolina Regional Park – Ellison Building 125 Regional Parkway, Suite 100 Orangeburg, SC 29118-8607 803-536-3333 www.ocdc.com
December 4 - January 14, 2024
W
elcome to the Charleston Regional Business Journal 2023 Reader Rankings! The votes have been cast and the results are in from Charleston Regional Business Journal readers. Businesses have been deemed the best of the best in the Charleston area. The second annual Reader Rankings
www.charlestonbusiness.com 17
gives a glance at the companies and services that the Charleston Regional Business Journal readers have rated highly across a wide range of categories. Over 8,000 votes were cast by you, our readers. Through your voice and these rankings, we hope to keep our finger on the pulse of our readership. We appreciate our readers’ engage-
ment by taking the time to cast your vote for the businesses you feel serve the local community. For more visit charlestonbusiness.com. As always, thanks for reading — and voting! Jason Thomas is the executive editor of SC Biz News. Reach him via email at jthomas@scbiznews.com.
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December 4 - January 14, 2024
Business Services
Companies of the Year
Best Ad and Marketing Firm
Environmentally Responsible Business of the Year
TOP WINNER - NP Strategy
TOP WINNER - AM Conservation Group
WINNER - Nelson Strategic Marketing WINNER - karstpromo
WINNER - The Office People
Best Professional Staffing Agency
Family-Owned Business of the Year
TOP WINNER - Spherion Staffing
TOP WINNER - Page’s Okra Grill
WINNER - Charles Foster WINNER - OpSource Staffing
WINNER - Bland Richter, LLP WINNER - Optimal Bio
Best Public Relations Firm
Minority-Owned Business of the Year
TOP WINNER - NP Strategy
TOP WINNER - Bare Skin Beauty
WINNER - Nelson Strategic Marketing WINNER - Social ABCs
WINNER - Veris CPA WINNER - Latin Groove Entertainment
Companies of the Year
Companies of the Year
Most Innovative Business of the Year
Non-Profit Organization of the Year
TOP WINNER - The Office People
TOP WINNER - Charleston Animal Society
Most Philanthropic Business of the Year
Woman-Owned Business of the Year
TOP WINNER - Parker’s Kitchen
TOP WINNER - Red Iron Architects
WINNER - Charleston Animal Society WINNER - Optimal Bio
WINNER - Joye Law Firm WINNER - Palmetto Goodwill
WINNER - Increasing H.O.P.E Financial Training Center WINNER - She’s The Veteran
WINNER - Bare Skin Beauty WINNER - Veris CPA
The Office Of TOmOrrOw TOday INNOVATION IS THE DRIVING FORCE BEHIND PROGRESS AND CHANGE. IT INVOLVES THE CREATION AND IMPLEMENTATION OF NEW IDEAS, PROCESSES, AND TECHNOLOGIES THAT LEAD TO IMPROVED SOLUTIONS, INCREASED EFFICIENCY, AND A BETTER FUTURE FOR ALL.
www TheOfficepeOple cOm
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December 4 - January 14, 2024
Education
Finance
Best College/University for Continuing Ed. Classes
Best Accounting Firm
TOP WINNER - Charleston Southern University
WINNER - Legare Bailey Hinske LLC WINNER - Hinske & Clarey LLC
Best Technical School for Training Employees
Best Bank
TOP WINNER - Trident Technical College
WINNER - South Carolina Federal Credit Union WINNER - First Citizens Bank
WINNER - Axiom Real Estate Academy
WINNER - Dorchester County Career and Technology Center WINNER - Axiom Real Estate Academy
TOP WINNER - Veris CPA
TOP WINNER - Pinnacle
Best Credit Union TOP WINNER - South Carolina Federal Credit Union
WINNER - Navy Federal Credit Union
Finance
Health Care
Best Life Insurance Agency
Best Health and Fitness Center
TOP WINNER - MassMutual South Carolina
TOP WINNER - Optimal Bio
WINNER - New York Life Insurance
WINNER - Tidelands Georgetown Memorial Hospital
Best Mortgage Company
Best Hospital
TOP WINNER - South Carolina Federal Credit Union
TOP WINNER - Roper St Francis Health Care
WINNER - Sweetgrass Capital WINNER - CMG Finanical
Best Wealth Management Firm TOP WINNER - Charleston Investment Advisors
WINNER - Objectivity Squared
WINNER - MUSC Health Chester Medical Center WINNER - East Cooper Medical Center
December 4 - January 14, 2024
www.charlestonbusiness.com 21
Health Care
Hospitality and Tourism
Best Retirement Community
Best Attraction
TOP WINNER - Franke At Seaside
TOP WINNER - International African American
WINNER - Daniel Pointe Retirement Community WINNER - Prince George Healthcare Center
Best Urgent Care Center TOP WINNER - Roper St. Francis Express Care WINNER - Doctors Care - Charleston WINNER - MUSC
Museum WINNER - Charles Towne Landing State Historic Site WINNER - Fort Sumter National Monument
Best Bar for Cocktails TOP WINNER - Bar Mash
WINNER - The Palmetto Hotel, Charleston WINNER - Prohibition
Best Day Spa TOP WINNER - Woodhouse Spa - Downtown Charleston
WINNER - Isle of Palms Resort & Beach WINNER - Mālama Massage Therapy
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December 4 - January 14, 2024
Hospitality and Tourism
Hospitality and Tourism
Best Hotel
Best Restaurant for Brunch
TOP WINNER - Hotel Bennett
TOP WINNER - Felix Cocktails et Cuisine
Best Place to Dine Outside
Best Restaurant for Desserts
TOP WINNER - Maya
TOP WINNER - La Pâtisserie
WINNER - The Palmetto Hotel WINNER - Francis Marion Hotel
WINNER - Share House WINNER - Tavern & Table
WINNER - Bodega CHS WINNER - Page’s Okra Grill
WINNER - Mercantile & Mash WINNER - Carmella’s Cafe and Dessert Bar
Best Restaurant for a Power Lunch TOP WINNER - Slightly North of Broad Restaurant
WINNER - Brown Dog Deli WINNER - Grill 225
Hospitality and Tourism
Law and Legal Services
Best Restaurant for Fine Dining
Best Mediation Firm
TOP WINNER - Halls Chophouse
TOP WINNER - Saxton & Stump
WINNER - Brasserie La Banque WINNER - Oak Steakhouse
Best Rooftop Venue TOP WINNER - Hotel Bennett WINNER - Uptown Social WINNER - Red’s Ice House
WINNER - Bland Richter, LLP
Civil Litigation TOP WINNER - Bland Richter, LLP WINNER - Phipps Law Firm WINNER - Motley Rice LLC
Corporate Counsel Law Firm of the Year TOP WINNER - Maynard Nexsen PC
WINNER - Bland Richter, LLP WINNER - Saxton & Stump
December 4 - January 14, 2024
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Law and Legal Services
Real Estate
Criminal Defense
Best Commercial Real Estate Firm
TOP WINNER - Bland Richter, LLP
TOP WINNER - Carolina Retail Experts
Family Law
Best Real Estate Agent
TOP WINNER - Bland Richter, LLP
TOP WINNER - Lindsey Halter - CCIM
Personal Injury
Best Residential Real Estate Firm
TOP WINNER - Bland Richter, LLP
TOP WINNER - The Real Estate Firm
WINNER - Trey Harrell Auto Accident and Personal Injury Attorney
WINNER - Saxton & Stump WINNER - Lauren Taylor Law
WINNER - Hughey Law Firm LLC
2023
RD F
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IN E S S C H
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WINNER - John Orr - CCIM WINNER - Brent Case - CCIM
WINNER - RE/MAX Coast & Island WINNER - True Carolina Realty
WINNER
ER RANKING EAD S
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R 23 20
WINNER - Coldwell Banker Commercial Atlantic WINNER - NAI Charleston
E
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Best Residential Real Estate Firm
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Technology Best Cybersecurity Company TOP WINNER - Atlas tech
WINNER - Bland Richter, LLP WINNER - CMIT Solutions WINNER - Cyber Sherpas
Best IT Outsourcing Firm TOP WINNER - Branch Technologies WINNER - CMIT Solutions
johnnie-O, a California based men’s lifestyle brand, has collaborated with Charleston retailer M. Dumas & Sons to open a new flagship store at The Charleston Place. (Photo/Provided)
Lifestyle brand, ‘iconic’ retailer open flagship Charleston store By Jason Thomas
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Boeing boosted by private purchasers Efficiency of Dreamliners leads to more sales for business division. Page 8
Work begins on materials complex Clemson launches building for advanced materials. Page 10
New way to tour historic Yorktown app Bulldog Tours develops as audio around museum. Page 11
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Upfront .....................................................2 ... 3 SC Biz News Briefs....................... In Focus: and Architecture, Engineering Construction.....................................13 List: Architecture Firms...........21 Bonus List: General Contractors.......................................220 Hot Properties ..................................2 ............24 ..................................... Work At .......27 Viewpoint .....................................
the Park Circle A complete revamp of — part of playground in North Charleston — finally of the area a $20 million overhaul date. Page 13 has an anticipated opening
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North Charleston Business Expo drew The North Charleston event and more than 150 exhibitors hundreds of attendees. Page 6
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ohnnie-O, a men's lifestyle brand, has collaborated with M. Dumas & Sons, Charleston's iconic men's specialty retailer, to introduce a new flagship store in the heart of downtown Charleston, located at The Charleston Place. The store opened in early September and is a natural fit between the johnnie-O and M. Dumas brands and their connection with the coastal, Lowcountry lifestyle, a news release stated. On Nov. 16 the store kicked off a grand opening and holiday shopping event attended by media, influencers, community figures, and loyal brand fans including Southern Charm’s Shep Rose, the release stated. “The johnnie-o team is overwhelmed by the reception to our new co-branded store in Charleston Place,” johnnie-O CEO John Collins said in the release. “ We are honored that M. Dumas, a local fixture in Charleston for over 100 years, chose to partner with our brand. Whether you're strolling along the harbor, playing 18 holes nearby, or enjoying some of the city’s many culinary delights, Charleston is simply a special place. We are grateful for the warm southern welcome and look
forward to serving the community in the months and years to come.” The new store at 132 Market St., within The Charleston Place, is in a historic building that holds special significance in the city’s fashion heritage as the original home of M. Dumas & Sons. The space has been restored to capture the essence of both brands, the release stated . This is johnnie-O’s first co-branded retail store in Charleston, though customers can also shop a selection of johnnie-O apparel and accessories at the M. Dumas location at 294 King St. "M. Dumas & Sons is proud to join forces with johnnie-O to introduce this dynamic new retail experience in downtown Charleston in the same building as the original M. Dumas store,” Gary Flynn, president and co-owner of M. Dumas & Sons, said in the release. “Our rich history and commitment to quality align perfectly with johnnie-O's values, making this venture a natural fit. We're confident that our customers will be as thrilled as we are to see these two iconic brands come together under one roof." Founded in 1917 by Mendel Dumas, M. Dumas & Sons has evolved into an iconic men’s specialty retailer in the historic downtown district of Charleston. CRBJ
December 4 - January 14, 2024
VOLUME
27 NUM
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■ CHA RLE STO
NBUSINE
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harleston philanthr billionaire bus inessman opist Ben add and jamin Charlesto ing the lux Navarro ury n Place is to his lon downtown Beemo hotel g list of ro, has k Capital, the confirm family offi assets. ed that hotel fro ce of Na it m tality and Belmond, an will be acquiring varthe countries. leisure brand international hospiwith a pre sence in The tra 22 later in nsaction is exp the ect from rele year upon app ed to be com pleted resentativ vant local author roval and cle ara agreem es said in a sta ities, Belmond nce ent hav tem rep ent e not yet . Terms Belmo bee of the to discus nd and Beemo n disclosed. k questio s other terms Capital did not ns of the sale want the signat about any or ans pos ure pro closes. perty unt sible change wer s to il the dea Charle l officia lly St. in theston Place, loc ate d at 433-room heart of his toric dow205 Meeting pro per event spa ty with ntown, two-sto ce, a rooftop infi 40,000 square is a ry lounge fee nit . Startin y pool and pri t of g rates vate for a del uxe See HOT EL, Page 7
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By Jenny Peterson
A
Dream It, Print It
Contributing Writer
Charleston print shop is putting artificial intelligence-powered graphic design into customers’ hands, allowing them to create company logos, branding material and more in just minutes with same-day printing on popular marketing items. Clifford Thompson, owner of Dream It Print It in the Citadel Mall, hopes to disrupt an industry that has traditionally relied on wholesale, minimum-quantity orders and generic templates for branding and logos. By and large, if a company wanted to get its logo branded on T-shirts, banners, posters, canvases, koozies, hats, pens or any other item, they had to go through a wholesale printer, pick from a template and place a minimum order number to make it a low-cost option. Thompson’s model allows smallbatch and no-minimum orders with an added bonus: the ability to create designs and logos using computer-generated A.I. software. Customers pay $11 for 15 minutes for in-store use of iPads — called “Dream Stations” — to create a design in seconds, ready to print onto a number of products. Customers can create a design from scratch or enhance a current design or logo with free public-use A.I. images that can be created in seconds. Thompson is there to help guide customers throughout the process, explaining how the software constantly scrapes images online with thousands to choose from. A rainbow over the Ravenel Bridge? A leprechaun on Folly beach? There are A.I. images for that. Thompson, who moved to Charleston from Nashville following a career in graphic design and golf flag embroidery, came up with the idea when he saw how effectively artificial intelligence designs images. “To get a logo made, it's at least $50 to $200 for a graphic designer. When the A.I. stuff came out, it clicked in my head that now people can create their own designs. I thought, ‘This would be good in a kiosk to be able to print people's (design) on the spot. Ninety percent of (what I print) is A.I. art,” he said. Thompson invested in a state-of-theart UV printer that uses light to cure the images on products. The company prints designs on many items, both common and not-so-common, which can be printed while customers shop at the Citadel Mall. “I'm the first person doing it like this in the area,” Thompson said. “People aren't used to being able to go in someplace and design something right then and there.”
Customers can create logos or any design from scratch, or bring in existing photos and logos that can be highly stylized; an image can be manipulated into a style of a famous artist, or turned into a pixelated version or a cartoon. “I can search for the Ravenel Bridge in the style of Salvador Dali,” Thompson said. “A.I. can take a photo and turn it into an oil-painting.” Logos can be surrounded by additional images or additional text. These variations work for company parties and picnics, anniversaries, other company milestones and teambuilding. The cost is about $30 to print a custom design on an adult T-shirt and $20 to print a custom child’s shirt and includes the purchase of a T-shirt; bringing in your own garment lowers the printing price and bulk orders get an additional discount. Thompson has a variety of products stocked in the store including high-quality T-shirts, mugs, cups, canvases and posters, whiskey rocks, skateboards, poker chips, socks and more. Dream It Print It held a ribbon cutting in October, although it has been open for several months as Thompson builds a client list and comes up with ways to get more people excited about A.I. graphic design and the ability to design and create anything they can imagine. “I can personalize anything. I can print on golf balls, baseballs … on my website I've got over a hundred products,” Thompson said, adding that T-shirts and canvases have been the most popular product. “I'm trying to keep it at an affordable price, and I also handle big orders. With two different printers, I can print one thing, or I can print a thousand things. That's why I can keep it affordable,” Thomspon said. He's aiming to make the shop available for kids’ parties, where each guest can create their very own T-shirt and image using the A.I. technology on iPads. He likens it to a Build-a-Bear. “Kids can create their own character and get it printed on a white shirt and use fabric markers to color on their shirt,” he said. Thompson said the possibilities are endless; a current client who is a graphic artist has been printing his designs on T-shirts and hats to sell immediately. Thompson is also planning on adding a subscription service, where groups and organizations can put their logo on the Dream It Print It website to allow customers to purchase official “merch” directly, suitable for church groups, social leagues and even musical artists. Both Thompson and the client would split proceeds when a prod-
December 4 - January 14, 2024
Dream It, Print It is located at the Citadel Mall, where customers can shop while their products cure. (Photo/ Jenny Peterson)
Clifford Thompson has welcomed A.I. as an entrepreneurial opportunity. (Photo/Jenny Peterson)
Thompson intends to make his shop available for events such as parties. (Photo/Jenny Peterson)
uct is ordered. “My goal is to have everything ready by the next morning after someone orders it,” he said. Thompson adds that the only other company doing on-demand printing in the area is a franchise called Big Frog
that prints custom T-shirts, but they don’t offer the A.I. technology for quick and easy design, which Thompson says is a game-changer. “My goal is within the next year to prove that it works and then start opening other locations,” he said. CRBJ
December 4 - January 14, 2024
www.charlestonbusiness.com 27
College of Charleston launches new micro-credential program By Ross Norton
T
rnorton@scbiznews.com
he College of Charleston is partnering with global online learning platform Coursera to launch a new program to provide industry-branded micro-credentials to students, faculty and staff at no cost. Students can earn professional certificates for in-demand workplace skills that will complement their academic credentials. Faculty and staff will also be able to earn professional certificates through online training, according to a news release. “This partnership will provide members of the College of Charleston community the opportunity to build skills using resources from some of the world’s leading companies,” said College of Charleston President Andrew T. Hsu in the news release. “As one of the oldest colleges in the nation, the College of Charleston is setting the blueprint for other liberal arts institutions to follow.” Students, faculty and staff now have access to Career Academy on Coursera, which includes more than 45 entry-level professional certificates from companies such as Google, IBM, Microsoft and Salesforce. The program enables individuals to
College of Charleston studenets will be able to obtain microcredentials that will help them secure and perform a new job. (Photo/Provided)
explore a wide range of in-demand career paths, such as Data Analyst, Cyber Security Analyst, UX Designer, Application Developer and Social Media Marketer. Hands-on projects and interactive assessments allow individuals to apply their skills in real-world scenarios and practice using workplace tools, the news release stated. “I am very excited about making Coursera’s Career Academy available to our College of Charleston commu-
nity,” said Suzanne Austin, executive vice president for academic affairs and provost. “U.S. workforce needs are changing rapidly, and we need to provide resources so that students, faculty and staff can succeed in this environment.” “We are excited to partner with the College of Charleston, one of the oldest colleges in the U.S., in its efforts to complement the broad-base liberal arts education that prepare students to be great critical think-
ers, with industry micro-credentials that prepare students for in-demand careers,” Scott Shireman, global head of Coursera for Campus, said in the release. “With Career Academy, every Charleston student can earn the skills and credentials needed to give them a competitive edge and unlock opportunities in the rapidly evolving local job market.” The courses consist of a series of modules with 10-minute video segments, readings, assignments and assessments that can be used to supplement content. The College of Charleston is the first university in South Carolina to offer the full suite of Coursera’s Career Academy. According to a recent study published by the U.S. Chamber of Commerce, South Carolina has 167,000 unfulfilled job openings. “Google has called South Carolina home for nearly two decades. We’re proud to invest in the state’s students and future workers by offering our Google Career Certificates program to the College of Charleston,” Amanda Brophy, director of Grow with Google, said in the release. “We’re excited that thousands of students at the college will learn job-ready skills from experts at Google while pursuing a degree.” CRBJ
To learn more, visit ssoe.com SSOE Group enriches communities through designs that are smart, innovative, and culturally significant. From concept to occupancy, we provide imaginative solutions that meet your specific needs. Our designs creatively integrate your identity into the built environment, enhancing the experience for all who utilize the space.
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December 4 - January 14, 2024
SCRA takes on Mount Pleasant enterprise as member company By Ross Norton
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rnorton@scbiznews.com
ADchat and Saluda Manufacturing have joined the South Carolina Research Authority as member companies. Four others received new grant funding. All SCRA member companies receive coaching, access to experts in SCRA’s Resource Partner Network, eligibility to apply for grant funding, and the potential to be considered for investment from SCRA’s investment affiliate, SC Launch Inc. Saluda Manufacturing LLC is a Columbia-based advanced materials and manufacturing company working to change the way truck owners manage cargo with the Saluda Box. The Saluda Box is designed to help with cargo management by merging a bed-mounted toolbox with a bed cover that protects bed cargo and can be stored in the toolbox when not in use. CADchat Inc. is a Mount Pleasant-based information technology startup that has designed a simple and secure 3D conferencing tool that enables designers, engineers, manufacturers and non-technical stakeholders to communicate about 3D files through easy viewing, sharing and video conferencing. The new grant funding recipients are Borealis Global Advisory, DRAHOLA Technologies, FRD Accel and Health Evolve Technologies
The SCRA was founded by the state with an objective of fueling South Carolina’s innovation economy through its service to technology-based startups, academia and industry. (Photo/Provided)
Borealis Global Advisory LLC received a $50,000 Acceleration Grant. The Blythewood-based fintech startup is an SaaS platform designed to save significant time and money for investment managers. The platform allows managers to invest globally by leveraging advanced algorithms and visualization tools that provide world-leading, realtime and actionable country-level insights. DRAHOLA Technologies Inc. received a $25,000 Project Development Fund Grant. The Rock Hill-based information technology startup is a full-service spatial software devel-
opment and consulting company. DRAHOLA is the developer of yey’maps, a geospatial engineering company that uses flexible and intuitive cloud GIS solutions for the optimal implementation of geodata. FRD Accel LLC received a $50,000 Federal Matching Grant. The Charleston-based life science company was formed by the Medical University of South Carolina’s Zucker Institute for Innovation Commercialization. Their technology, BabyStrong, consisting of an earpiece and controller, uses vagus nerve stimulation to promote feeding in newborns,
especially premature babies, who have feeding difficulties. The BabyStrong system can eliminate the need for a gastric tube, resulting in earlier discharge from the hospital and reduced stress for the baby and family. Health Evolve Technologies LLC received a $25,000 Project Development Fund Grant. The Columbia-based information technology company builds patient-centered technologies that provide comprehensive and simple tools to position patients as partners and equip providers with clinical insights needed for a personalized care experience. Grant funding is made possible, in part, by the Industry Partnership Fund contributions. Contributors to the IPF receive a dollar-for-dollar state tax credit. Chartered in 1983 by the state of South Carolina as a public, nonprofit corporation, South Carolina Research Authority was established to fuel the state’s innovation economy through the impact of its comprehensive services to technology-based startups, academia and industry. SCRA provides funding and support to accelerate the growth of academic startups; high-quality lab and administrative workspaces; facilitation and funding for partnerships between and among industry, startups, and academic institutions; assistance and funding for the relocation of technology-based companies to South Carolina; and coaching and funding for startups that may also receive investments from its affiliate, SC Launch Inc. CRBJ
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December 4 - January 14, 2024
www.charlestonbusiness.com 29
Software company to expand Charleston County headquarters By Jason Thomas
Q
jthomas@scbiznews.com
uicksortRx, a software-enabled service company that provides pharmacy supply chain management solutions for health systems, will grow its corporate headquarters with an expansion in Charleston County. The $220,000 investment will create 41 new jobs over the next three years, according to a news release. The company is moving from its current location at the Charleston Tech Center to a larger, 4,000-square-foot facility at 2 Cumberland St. in Charleston. The new facility will accommodate employee growth and allow QuicksortRx to host on-site conferences for customers. “Charleston is an amazing city to live and work in,” QuicksortRx co-founder and CEO Jonathan Yantis said in the release. “I’m lucky to call this my hometown, and we couldn’t ask for a better place to grow a company. It also helps that talented people want to move here." Initially created at the Medical University of South Carolina, QuicksortRx helps health systems streamline pharmaceutical market analysis to reduce the cost of quality health care, the release stated. The platform unifies purchase, cost and compliance information to simplify supply chain management and
QuicksortRx, a software-enabled service company that provides pharmacy supply chain management solutions for health systems, will grow its corporate headquarters with an expansion in Charleston County. (Photo/Provided)
ensure hospitals secure medications at the best price. After the technology was developed at UMUSC the collaborators partnered with the university’s Foundation for Research and Development in 2019 to offer their solutions to other hospitals.
LaLa Accounting Software Support Lauren La Mantia 843.576.9966 lauren@lala.ac lala.ac
According to the company website, they have worked with health care systems ever since, helping them realize “tens of millions of dollars” in cost savings. “Congratulations to QuicksortRx on their remarkable journey of growth and success. This expansion is a testament to
their dedication, innovation, and unwavering commitment to improving healthcare through technology,” Charleston County Council Chairman Herbert Ravenel Sass III said in the release. QuicksortRx, born from the Medical University of South Carolina and nurtured within the Charleston Digital Corridor, has not only expanded its physical space but also the boundaries of what's possible in health care.” Operations are expected to be online in December 2023. “The growing presence of QuicksortRx in Charleston County displays their commitment to modernization and technological advancement,” Charleston County Economic Development Executive Director Steve Dykes said in the release. “The company's focus on healthcare efficiency and ingenuity aligns with the broader goal of improving the quality of healthcare services in the region and across the country." “QuicksortRx’s decision to expand its headquarters in Charleston County acknowledges the Lowcountry’s top destination reputation,” S.C. Secretary of Commerce Harry M. Lightsey III said in the release. “We are pleased that a successful South Carolina experience prompted economic growth and the desire to stay in the community where it began.”
Commercial real estate for real impact Value through innovation. Driven by data. Powered by people.
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December 4 - January 14, 2024
Popular taproom opens Charleston Airport location
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Staff Report
ommonhouse Aleworks, a wellknown North Charleston taproom, has opened in the Charleston International Airport. It has replaced the former Sam Adams Bar near Gate B5, and features a 1,250-square-foot restaurant and full bar, complete with six taps of their locally sourced craft brews in addition to elevated pub fare and a new patio space, according to a news release. The new restaurant will be operated by Delaware North, concessionaire partner of the Charleston International Airport. “Our ethos centers on the celebration of what we all share in common,” said Pearce Fleming, proprietor and CEO of Commonhouse Aleworks, said in the release. “We’re elated to shepherd our community’s mentality here in North Charleston through our new occupation in the airport with locals and visitors alike. We can’t think of a better way to make an impression than through good company and conversation.” Fleming and his team pride their practice as a brewery and gathering place on serving their communities through col-
The new location replaces the former Sam Adams Bar spot, and will feature six taps of locally sourced craft brews in addition to elevated pub fare and a new patio space. (Photo/Provided)
laboration, fundraising, forum, and fellowship. A portion of proceeds from every Commonhouse beer sold at their flagship location is donated to community impact organizations. “We are ecstatic about our partnership with Commonhouse Aleworks,”
said Michael Blake, Delaware North’s onsite general manager and Charleston native, in the release. “Their dedication to North Charleston is unmistakable, and the passion they pour into maintaining exceptional brewing standards is evident with every pint.”
Commonhouse Aleworks in the Charleston International Airport is open daily from 4 a.m. to the last arriving flight. The flagship Commonhouse Aleworks is located in the Park Circle neighborhood of North Charleston, at 4831 O’Hear Ave., and is open Tuesday through Sunday. CRBJ
Charleston locals open high-end retail spot on King Street By Jason Thomas
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jthomas@scbiznews.com
harleston locals Adele Cisco, Erin Engebritson and Kristin Smoak opened a custom specialty hat shop on King Street this month. Marsh & Magnolia is at the street level of the iconic Hotel Bennett, according to a news release. Marsh &
Magnolia opened to the public on Friday, Nov. 17, at 404 King St., Suite 101. Marsh & Magnolia offers a personalized hat-making experience where guests work one-on-one with a skilled hat stylist to create a felt or straw hat that is truly unique, the release stated. Their private-label hats are made from the highest quality felt and straw materials and are offered in an array of styles and colors. Guests work with
Marsh & Magnolia’s expert team of beverages and a fun atmosphere, the stylists to guide them through the release stated. unique hat design process, ensuring a The team worked with local architruly one-of-a-kind creation. tecture and interior design studio, The Marsh & Magnolia will offer a vast Middleton Group, on the buildout of selection of design details, includ- the modern, coastal space, the release ing hat bands, ribbons, pins, stitch- stated. Upon entering, guests will notice ing, charms, feathers and brands, the the custom hat bar with a shaping and release stated. Inspired by the Low- fitting station, a hat wall and a retail country lifestyle, customers can expect area with exclusive merchandise from Statewide businesslocal news Glampwear updates...and asHibiscus they happen! upbeat music, complimentary Linens. CRBJ
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Gift prompts The Citadel to create new school on leadership, ethics By Jason Thomas
A
jthomas@scbiznews.com
new gift from Mr. and Mrs. L. William Krause, class of 1963, will significantly enhance the couple’s long-standing legacy of promoting the education of principled leaders at The Citadel. Gay and Bill Krause have recently committed to giving an additional $5 million to establish and name the Krause School of Leadership and Ethics, a news release stated. The new gift — when added to significant previous gifts made in 2012 and in 2003 designated to support, advance and endow the college’s leadership development curriculum — places the Krauses among the top three individual donors in the college’s history, the release stated. The new school will unite the existing Krause Center for Leadership and Ethics and the college’s Department of Leadership Studies into a single entity, forming the college’s sixth major academic school. “We believe that the new school of leadership is an essential cornerstone to The Citadel and its vision to lead in the education and development of principled leaders,” said Bill Krause in the release. “Gay and I are excited that we can provide the funding for General Walters and Provost Selden to establish the new Krause School of Leadership and Ethics as the pre-eminent school of leadership in America.” Collaborating with three presidential administrations over several decades, the Krauses have provided the vision, guidance and resources to establish The Citadel as the college of choice for those seeking to serve as principled leaders prepared to meet the challenges facing the nation and the world today, the release stated. “Bill and Gay Krause have been instrumental in The Citadel’s efforts to advance leadership and ethics edu-
A new gift from Mr. and Mrs. L. William Krause, class of 1963, will significantly enhance the couple’s long-standing legacy of promoting the education of principled leaders at The Citadel. (Photo/Provided)
cation for more than 30 years,” said The Citadel President Gen. Glenn M. Walters, a class of 1979 alumnus and retired U.S. Marine Corps officer. “Their support is not only in philanthropy, but also in leadership and wisdom. They are a driving force with The Citadel Foundation and a myriad of other campus organizations and projects. The Krauses’ impact on The Citadel cannot be overstated, and creating this new school is critical to advancing leadership and ethics education at our college.”
Gift to provide resources now and into the future
Fittingly, the Krause gift was formally documented after a surprise award presentation following the Oct. 12 Greater Issues address to the South Carolina Corps of Cadets by Krause’s
close friend and mentee Claudius “Bud” Watts IV, class of 1983, the release stated. After the address, Krause was awarded the inaugural Presidential Leadership Award recognizing his lifelong commitment to advancing principled leadership at The Citadel. This prestigious new recognition is the highest honor that the college’s administration may award. The Krauses’ gift will provide vital resources now and in the future, including ongoing operational support for the Krause School of Leadership and Ethics and an endowment to ensure its long-term growth. Part of the gift is an estate plan that will further enhance the renamed Krause School of Leadership and Ethics endowment. Until it officially becomes part of the new Krause School of Leadership
and Ethics, the Department of Leadership Studies will continue to equip all Citadel students with the knowledge and the tools to be principled leaders, the release stated. The Krause Center for Leadership and Ethics will also continue to coordinate, promote and enhance the development of curricular and co-curricular programs in leadership and ethics that support The Citadel’s vision to lead in the development of principled leaders. A long-standing member and former chairman of The Citadel Foundation Board of Directors, Krause served alongside William Sansom, class of 12964, as honorary chair of the Foundation for Leadership comprehensive campaign, which raised more than $250 million to support the college’s most vital strategic initiatives. CRBJ
Charleston Southern ‘promises’ to be first SC private college to cover tuition By Ross Norton
C
rnorton@scbiznews.com
harleston Southern University has adopted a program called Buc Promise that makes it the first private school in the state with a tuition guarantee that covers the cost of tuition for qualifying students. The university said in a news release that Buc Promise is a renewable scholarship for Pell-eligible South Carolina residents with a minimum 3.5 high school grade point average. Charleston Southern will cover the remaining costs of tuition after Pell and other gift aid are
applied during a student’s four years at CSU, the news release said. The program kicks off with the incoming fall 2024 class. “Higher education is the pathway to purpose,” President B. Keith Faulkner said in the release. “As a first-generation college student and an alumnus of CSU, I can relate to the challenges and choices that so many students face. Charleston Southern is where I earned the opportunity for a better life, and our commitment to creating an affordable and accessible private Christian higher education experience for South Carolina residents is a decision that will impact generations
to come. To transform one student’s life is to transform his or her legacy.” Students eligible for Buc Promise must be a state resident, have at least a 3.5 unweighted GPA, complete FAFSA, be Pell-eligible for more than the Minimum Pell Grant, enroll full time in a traditional degree program and be pursuing a first bachelor’s degree. Buc Promise is renewable each year, provided the student maintains eligibility, the release stated. “We are excited to reveal this tuition promise program that is certain to change the trajectory of lives for the better in our state,” Anthony Turner,
vice president for enrollment and marketing, said in the release. “For many students who are Pell-eligible, finances stand in the way of their dream of earning a bachelor’s degree. And many shy away from private education thinking that the educational costs are too high. Not only will Buc Promise break that barrier for our Pell-eligible applicants, but we hope this program will shine light on how students can afford a Christian higher education experience.” Charleston Southern University is a private, Christian liberal arts university with an enrollment of nearly 3,500 students. CRBJ
In Focus
NEXT ISSUE’S FOCUS: Workforce/Staffing
FINANCE LISTS: Banks, Page 35 | Accounting Firms, Page 36
A federal jury found that the NAR and a several real estate companies engaged in practices that effectively raised, inflated or stabilized broker commission rates paid by home sellers. (Photo/Provided)
Jury delivers massive blow to real estate industry By Scott Lauck
slauck@molawyersmedia.com
A
federal jury in Kansas City awarded nearly $1.79 billion in a class-action lawsuit against the real estate industry. In a recent verdict, jurors found the National Association of Realtors and several major real estate companies had engaged in a conspiracy that “had the purpose or effect of raising, inflating or stabilizing broker commission rates paid by home sellers” and that their actions caused the plaintiffs “to pay more for real estate brokerage services when selling their homes than they would have paid absent the conspiracy.” Michael Ketchmark of Ketchmark & McCreight, who led the team of Kansas City attorneys for the class, said federal antitrust law permits the plaintiffs to recover treble damages,
which would put the final judgment at about $5.4 billion. In addition, immediately after the verdict Ketchmark filed an additional suit making the same claims on behalf of a nationwide class, which he said has the potential to yield damages of more than $100 billion. “We view this as a tremendous day of accountability,” he said. The defendants have vowed to seek a reduction of the damages and to appeal the verdict. In a statement, Mantill Williams, vice president of communications for the National Association of Realtors, said the organization’s rules “prioritize consumers, support market-driven pricing and promote business competition.” “We stand by the fact that NAR’s guidance for local MLS broker marketplaces ensures consumers get comprehensive, equitable, transparent and reliable home information and that brokerages of any
size, service or pricing model get a fair shot at competing,” he said in an email. “We will continue to focus on our mission to advocate for homeownership and always put consumer interests first. It will likely be several years before this case is finally resolved.”
Case attacked standard commission requirement
The verdict came at the end of a twoweek trial in U.S. District Court for the Western District of Missouri. The case attacked the standard requirement that home sellers pay a 6% commission that is split between their own agent and that of the buyer. The suit alleges that compliance with the Realtors association’s rule is required for properties to be listed on the Multiple Listing Service, or MLS, which are regional databases of properties through which nearly all homes are sold, consti-
tuting a restraint on competition. Other defendants named on the verdict include HomeServices of America, Keller Williams Realty, Anywhere Real Estate and RE/MAX. However, Anywhere and RE/MAX reached settlements of $83.5 million and $55 million prior to trial. Those settlements have not been approved yet by Judge Stephen Bough, who oversaw the trial. Both settlements also addressed claims in a similar suit in the Northern District of Illinois, which has not yet gone to trial. Ketchmark said an economist calculated the precise award of $1,785,310,872 based on sales data for 265,000 homeowners in the Kansas City region during the seven-year period covered by the suit. “They awarded every penny we asked for,” he said, adding that the non-settling defendants will be jointly and severally liable for the damages. CRBJ
IN FOCUS: FINANCE
December 4 - January 14, 2024
www.charlestonbusiness.com 33
With soft landing in sight, another Fed rate hike unlikely
T
he employment report for October confirmed that the monthly gains in employment continue to slow gradually. The 150,000 increase in employment was held down by the loss of 33,000 workers in the automobile industry caused by the UAW strike. The strike may also have biased downward the hours worked data and accounted for the small increase in the unemployment rate. Even with a SLIFER snapback in all of those categories in November as the auto workers return to work, it seems clear that the economy is continuing to cool and that fourth quarter GDP growth will likely be about 1.5% following the outsized 4.7% increase in the third quarter. Meanwhile, the money supply continues to decline which means that the surplus liquidity in the economy should almost disappear by the end of the year. That, in turn, suggests that the inflation rate will continue to slow. It may not reach the Fed’s 2.0% target until 2025, but it will steadily move in that direction.
Against that background, it is hard to imagine that Fed policy makers will vote for another rate hike anytime soon. Fed officials have already indicated that they will be unlikely to raise rates at the next FOMC meeting in December. We believe that by early next year the Fed will indicate more clearly that the rate tightening cycle is over. Once additional rate hikes are off the table, consumer and business confidence will climb and attention will shift to the timing of the first rate cut
by the Fed. That change in sentiment should lead to somewhat more GDP growth in the second half of next year of perhaps 1.5% following anemic growth in the first half. If so, the Fed will have successfully pulled off the elusive soft landing. Kudos to the Fed. That does not happen often. Payroll employment rose 150,000 in October. That included a 33,000-worker decline in employment in the automobile industry caused by the UAW strike. Those workers will
return to their jobs in November and bias upwards the overall increase for that month. Even so it is clear that employment growth has been slowing. A year ago we were seeing a steady diet of employment gains in excess of 300 thousand per month. Today they are 204,000 and seem headed lower. Throughout this year the monthly jobs gains have been bolstered by workers returning to the labor force. But, at long last, the labor force is close to where it would have been if the 2020 pandemic-induced recession had not occurred. If that is true, then labor force growth should soon return to its longer-run growth rate of 1.0% which works out to about 150,000 per month. If both the labor force and employment are heading toward roughly 150,000 per month, then the unemployment rate should be reasonably steady at its current level of 3.9% for the foreseeable future. Remember, the Fed believes the economy is at full employment — meaning that everybody who wants a job has one — if the unemployment rate is 4.0%. If that is accurate, then the Fed has successfully slowed GDP See SOFT LANDING, Page 34
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Asset Asset allocation allocation and and diversification diversification cannot cannot eliminate eliminate the the risk risk of of fluctuating fluctuating prices prices and and uncertain uncertain returns returns nor nor can can they they guarantee guarantee profit profit or or protect protect against against loss loss in in declining declining markets. markets. Wells Wells Fargo Fargo Advisors Advisors isis not not aa tax tax advisor. advisor. All All investing investing involves involves risk, risk, including including the the possible possible loss loss of of principle. principle. Wells Wells Fargo Fargo Advisors Advisors isis aa trade trade name name used used by by Wells Wells Fargo Fargo Clearing Clearing Services, Services, LLC, LLC, Member Member SIPC, SIPC, aa registered registered broker-dealer broker-dealer and and non-bank non-bank affiliate affiliate of of Wells Wells Fargo Fargo && Company. Company. ©© 2021 2021 Wells Wells Fargo Fargo Clearing Clearing Services, Services, LLC. LLC. CAR-0222-01559 CAR-0222-01559
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34
www.charlestonbusiness.com
IN FOCUS: FINANCE
December 4 - January 14, 2024
Summerville retail center acquired for $60 million By Jason Thomas
tures national retailers TJ Maxx, Ross Dress for Less, Ulta Beauty, Five Below, Dick’s Sporting Goods, n affiliate of North- Petsmart, and Best Buy, among othbrook-based Pine Tree, ers, according to a news release. in partnership with LonAzalea Square marks the first don-based Blue Coast Capital, asset acquired by the joint venture acquired Azalea Square, a mar- between Blue Coast Capital and Pine ket-dominant shopping center in Tree and the second asset managed Summerville, for $59.7 million. by Charleston Pine Tree in South Carolina, the Sono Bello, North At 270,000 square feet — not release stated. including shadow-anchors Target “We’re excited to announce the and Kohl’s — Azalea Square fea- acquisition of Azalea Square and a
new partnership with Pine Tree,” said Hector Caldera, president of U.S. Real Estate at Blue Coast Capital, in the release. “Azalea Square’s location in the growing market of Charleston along with the exceptionally strong tenant performance made the asset attractive to the partnership.” Located 22 miles north of Downtown Charleston along Interstate 26 in Summerville, Azalea Square is near some of the fastest growing employers in the Charleston
MSA, including Boeing, Mercedes, Volvo, Bosch, and more, the release stated. With nearly six million visits per year, it ranks in the top five most-visited retail properties in the state. Brad Peterson and Whitaker Leonhardt at Colliers represented the seller, AEW Capital Management. Financing was provided by Nationwide Insurance and arranged by Chicago-based Draper & Kramer, according to the release.
year. This is not a sustainable situation. However, it can continue for a while growth without generating significant because consumer debt in relation to weakness in the labor market. income remains very low. Our expectaConsumers play a key role in this tion is that by early next year the pace anticipated soft-landing scenario. of consumer spending will have slipped Consumers continue to fret about the to 0.5-1.0% which should cause GDP still-high inflation rate and the possi- growth to slow to about 0.6% in both bility of further rate hikes. As a result, the first and second quarters of 2024. consumer sentiment is still 30 points On the inflation front we are combelow where it should be. forted by the steady decline in the Despite worries about the future con- growth rate of the money supply. Folsumers have been spending at a relative- lowing explosive growth in 2020 and ly robust 2.4% pace. But to do so they 2021 as the Fed bought trillions of have been saving less each month. The dollars of government securities and savings rate today is 3.4% compared to mortgage-backed debt, the economy at 654 St.average Andrews Blvd7.0%. | Charleston, SC 29407 | 843.225.0406 its long-term of about one point had roughly $4.0 trillion of At the same time consumers are surplus liquidity which fueled the drawww.jmusselmanconstruction.com relying on their credit cards. Credit matic increase in the inflation rate. OFFICES card debt has increased 16%| MEDICAL in the past | RETAIL That| HISTORICAL has shrunk to $1.3 trillion cur-
rently and should be largely eliminated by yearend. That gives us confidence that the inflation rate will continue to gradually slow toward the Fed’s 2.0% target. Given still rising wages and a resumption of increases in home prices and rents, the descent toward the 2.0% mark may be very slow and not achieve the objective until 2025, but it should continue to move steadily in the right direction. We thought that Fed officials might want to hasten the inflation slowdown by raising the Fed funds rate a couple more times from 5.5% currently to the 6.0% mark, but no Fed official at the moment seems inclined to do so. Accordingly, we have dropped the two additional rate hikes and now believe that the current 5.5% level of
the funds rate is most likely its peak level. Rate cuts are far distant and may not begin until the second half of next year. But after 2-1/2 years of steady Fed tightening it is comforting to think that the funds rate may have finally reached its peak. 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.
A
jthomas@scbiznews.com
SOFT LANDING, from Page 33
CRBJ
Sono Bello, North Charleston
654 St. Andrews Blvd | Charleston, SC 29407 | 843.225.0406 www.jmusselmanconstruction.com OFFICES | MEDICAL | RETAIL | HISTORICAL
BUILDING TRUST ADDING VALUE TO EVERYTHING WE DO AND
CRBJ
IN FOCUS: FINANCE
December 4 - January 14, 2024
www.charlestonbusiness.com 35
Banks
Ranked by Market Share
• •
Company
Top Local Official(s) / Year Founded
Phone / Website / Email
Market Share
Market Deposits ($000)
Market Offices
Wells Fargo Bank N.A. 177 Meeting St. Charleston, SC 29401
Christine DuBose 1852
843-727-2969 www.wellsfargo.com
17.9%
$3,754,005
20
Bank of America N.A. 75 Port City Landing Mount Pleasant, SC 29464
Mark Munn 1904
843-459-4778 www.bankofamerica.com
15.25%
$3,198,364
14
South State Bank 2440 Mall Drive North Charleston, SC 29406
Jack Goettee, Bill Medich 1934
843-529-5592 www.southstatebank.com amy.cox@southstatebank.com
13.29%
$2,786,982
19
Truist Bank 174 Meeting St. Charleston, SC 29401
Bill Rogers 1872
843-720-5168 www.truist.com
9.02%
$1,891,043
13
First-Citizens Bank & Trust Co. 152 E. Bay St. Charleston, SC 29401
Reeves Skeen 1898
843-577-8534 www.firstcitizens.com
6.65%
$1,395,079
16
Pinnacle Bank 530 Johnnie Dodds Blvd. Charleston, SC 29464
Mary Garcia, Rick Callicutt 2000
843-884-0504 www.pnfp.com joe.bass@pnfp.com
5.65%
$1,185,228
10
Synovus 158 Meeting St. Charleston, SC 29401
Reid Boehm 1905
843-724-7023 www.synovus.com info@synovus.com
4.93%
$1,033,920
8
Southern First Bank 480 E. Bay St., Suite F Charleston, SC 29403
R. Arthur Seaver 2000
843-725-5099 www.southernfirst.com contactus@southernfirst.com
2.79%
$584,246
2
The Bank of South Carolina 256 Meeting St. Charleston, SC 29401
Lawson Johnson 1986
843-724-1500 www.banksc.com
2.7%
$566,258
6
First Capital Bank 304 Meeting St. Charleston, SC 29401
Tradd Rodenberg, Harvey L. Glick, Joseph Kassim 1999
843-990-7770 www.bankwithfirstcapital.com customerservice@bankwithfirstcapital.com
2.52%
$528,310
3
United Bank 288 Meeting St. Charleston, SC 29401
J. Huggins, Ryan Benton 1839
843-973-6929 www.bankwithunited.com customerservice@bankwithunited.com
2.25%
$471,364
8
TD Bank N.A. 40 Calhoun St., Suite 100 Charleston, SC 29401
Greg Braca 1852
843-727-8400 www.tdbank.com
2.07%
$433,963
7
Beacon Community Bank 578 E. Bay St. Charleston, SC 29403
Brooks Melton 2018
873-990-5510 www.beacon.bank
2.04%
$427,900
5
Servis First Bank 701 East Bay St. Charleston, SC 29403
Thomas G. Trouche 2015
866-317-0810 www.servisfirstbank.com
1.8%
$377,719
2
JPMorgan Chase 170 Meeting St. Charleston, SC 29401
Elizabeth Russell, John Kopanski, Alfonso Hernandez 2000
800-935-9935 www.chase.com
1.28%
$267,744
7
United Community Bank 875 Lowcountry Blvd. Mount Pleasant, SC 29464
Lynn Harton, Rich Bradshaw, Dixon Woodward 1950
843-388-8433 www.ucbi.com
1.23%
$257,458
5
Regions Bank 170 Meeting St. Charleston, SC 29401
John M. Turner. Jr. 1928
843-937-8979 www.regions.com
1.17%
$246,270
3
Ameris Bank 349 W. Coleman Blvd. Mount Pleasant, SC 29464
H. Richard Sturm 2007
843-821-5075 www.amerisbank.com
1.03%
$215,894
4
Farmers & Merchants Bank of South Carolina 221 E. Main St. Moncks Corner, SC 29461
Charles W. Singletary, Jr. 1912
843-761-8888 www.fmbsc.com info@fmbsc.com
1.02%
$214,207
3
First National Bank of South Carolina 415 N. Main St. Summerville, SC 29483
Todd G. Buddin 1905
843-873-3310 www.fnbsc.com
0.89%
$187,529
6
PNC Bank N.A. 100 Calhoun St. Charleston, SC 29401
William S. Demchak 1845
843-958-3706 www.pnc.com karen.feagins@pnc.com
0.69%
$144,678
2
South Atlantic Bank 40 Calhoun St. Charleston, SC 29401
Len Howell 2007
843-414-5900 www.southatlantic.bank info@southatlantic.bank
0.65%
$135,419
2
First Reliance Bank 800 S. Shelmore Blvd. Mount Pleasant, SC 29464
Frank Bullard 1999
843-789-1000 www.firstreliance.com prhoads@firstreliance.com
0.4%
$126,285
1
First Horizon Bank 651 Johnnie Dodds Blvd. Mount Pleasant, SC 29464
D. Bryan Jordan 1864
843-971-6977 www.firsthorizon.com
0.32%
$99,950
1
First National Bank of Pennsylvania 151 Meeting St. Charleston, SC 29401
Len Hutchison, Vincent J. Delie 1864
843-666-0022 www.fnb-online.com reel@fnb-corp.com
0.29%
$90,075
3
FineMark National Bank & Trust 865 Island Park Drive Charleston, SC 29492
Michael Drohan 2016
843-998-6402 www.finemarkbank.com
0.27%
$85,520
1
Enterprise Bank of South Carolina 102 Main St. Ridgeville, SC 29472
Jared Polk 1920
843-871-0225 www.ebanksc.com
0.24%
$49,478
2
First Bank 1 1063 Morrison Dr. 2 Charleston, SC 29403
Adam Currie, Mike Mayer 1998
843-990-7900 www.localfirstbank.com
0.21%
$44,402
1
Bank of the Lowcountry 767 Johnnie Dodds Blvd. Mount Pleasant, SC 29464
Chase Talbert 1989
843-549-2265 www.banklowcountry.com ibanking@banklowcountry.com
0.2%
$41,900
2
First Palmetto Bank 1636 Highway 17 North Mt. Pleasant, SC 29464
David Ryan 1904
843-329-2265 www.firstpalmetto.com support@firstpalmetto.com
0.19%
$40,729
2
Because of space constraints, sometimes only the top-ranked companies are published in the print edition. For a full list of participating organizations, visit scbiznews.com/buy-business-lists. Email additions or corrections to Listresearch@Bridgetowermedia.com. Source: Federal Deposit Insurance Corp. deposit market share report as of June 30, 2023. Banks with locations in Lowcountry counties of Berkeley, Charleston, and Dorchester. 1 Previously Grandsouth Bank, acquisition as of March, 2023 2 Previously: 219 E. Bay St.
36
IN FOCUS: FINANCE
www.charlestonbusiness.com
December 4 - January 14, 2024
Accounting Firms
Ranked by No. of CPAs in the Charleston Area Company
Phone / Website / Email
Forvis LLP 525 E. Bay St., Suite 100 Charleston, SC 29403
843-722-6443 www.forvis.com email@forvis.com
Elliott Davis LLC 100 Calhoun St., Suite 300 Charleston, SC 29401
Managing Partner(s) / Year Founded
CPAs / Accountants / Employees
Services
Sarah Windham 2022
41 73 85
Audit and tax services, litigation support, forensic accounting, business valuation, transaction advisory services, corporate governance, health care consulting, sales tax compliance, cost segregation and R&D tax credit studies
843-577-7040 www.elliottdavis.com elliottdavis@elliottdavis.com
Tim Grow, Cindy Brams 1920
38 60 73
Assurance and advisory, tax planning and preparation, business strategy and valuation, international tax, litigation support and forensic accounting, bookkeeping and payroll
Baldwin & Associates LLC 210 Wingo Way, Suite 202 Mount Pleasant, SC 29464
843-722-0785 www.baldwincpa.com baldwininfo@baldwincpa.com
Stephen Moose, Alys Anne Dennis, Robert Baldwin 2003
15 29 32
Tax management, bookkeeping, tax prep, payroll services, estate planning, international tax services
Veris CPA 1156 Bowman Road, Suite 100A Mount Pleasant, SC 29464
843-881-4477 www.veriscpa.com marketing@veriscpa.com
Melissa A. Kiddy, Justin K. Kiddy, Russell Deal, Chris Kerr, Jenara Noel 1986
13 39 52
Proactive tax, audit and assurance, bookkeeping, outsourced CFO and consulting services for individuals and businesses
Moody & O'Neal CPAs LLC 654 Coleman Blvd., Suite 200 Mount Pleasant, SC 29464
843-849-3000 www.moodycpas.com
Chris O'Neal, Lora Prevatte 2009
13 22 24
Traditional audit and tax services, bookkeeping, management advisory, trusts and estates, litigation support and business valuation, risk advisory, controller-to-go, cost segregation studies
Streetman, Jones & Powers LLC 171 Church St., Suite 240 Charleston, SC 29401
843-723-3133 www.cpacharleston.com jstreetman@cpacharleston.com
Brian R. Powers, James A. Streetman, Patrick F. Jones 1996
10 16 14
Tax planning and preparation, audit, review and compilation services, government contracting, business valuation, tax resolution, succession planning, cash flow management, legal advisory, new business formation
Hutto, Preston & Associates LLC 157 E. Bay St. Charleston, SC 29401
843-577-0148 www.huttopreston.com info@huttopreston.com
Andrew Preston, Jeff Hutto 1976
9 13 15
Business advisory services, tax and estate planning, tax preparation and consulting services, client accounting services, financial statement preparation and assurance services
Moore Beauston & Woodham LLP 3520 W. Montague Ave., Suite 201 North Charleston, SC 29418
843-766-5010 www.fullservicecpa.com info@fullservicecpa.com
John B. Beauston 1992
8 14 21
Audit, tax, business consulting services, business sales and acquisition consultation, business valuation, tax planning and preparation, litigation support, state and local taxation matters
Jarrard, Nowell & Russell LLC 975 Morrison Drive Charleston, SC 29403
843-723-2768 www.jnrcpas.com info@jnrcpas.com
Christopher C. Nowell, William A. Russell, William H. Jarrard 2005
7 23 29
Traditional accounting and income tax services, business advisory services, auditing, captive insurance consultation and auditing, business modeling and valuations, wealth management
HRG CPAs LLC 820 Johnnie Dodds Blvd., Suite B Mount Pleasant, SC 29464
843-884-6184 www.hrgcpas.com
James R. Swindal, George L. Garmendia, Heather M. Aydlette 1925
6 17 20
Tax preparation, financial statement preparation, bookkeeping services
Legare Bailey & Hinske LLC 1100 Queensborough Blvd., Suite 100 Mount Pleasant, SC 29464
843-766-0400 www.lbhcpas.com info@lbhcpas.com
Ben Newton, Joseph A. Hinske 1998
6 9 10
Tax preparation and planning, accounting and auditing, estate and trust planning and compliance, business consulting and litigation support and business valuation
Riser Gibbons & Carpenter LLP 1417 Remount Road North Charleston, SC 29406
843-554-5600 www.rmgcpas.com admin@rmgcpas.com
Glenn D. Gibbons 1951
6 8 10
Accounting and auditing, tax preparation and planning, litigation support, estates and trusts, individual and business consulting services, bookkeeping and other small business services
WebsterRogers LLP 40 Calhoun St., Suite 460 Charleston, SC 29401
843-577-5843 www.websterrogers.com tsinclair@websterrogers.com
LaVonne Rosenberg, Bobby Creech, Amy F. Urquhart 1984
5 12 17
Tax preparation and planning, assurance and audit, CFO and business advisory services, outsourced accounting, employee benefit plan administration, estates and trusts, forensic and litigation support
Johnson Lambert LLP 100 Brigade St. Suite 100 Charleston, SC 29403
843-414-0330 www.johnsonlambert.com info@johnsonlambert.com
John Prescott 2003
5 12 11
Provides audit, tax, and consulting services to the insurance industry and alternative risk entities, associations and other nonprofits, and employee benefit plans
Carr, Riggs & Ingram CPAs and Advisors 235 Magrath Darby Blvd., Suite 140 Mount Pleasant, SC 29464
843-416-8784 www.cricpa.com marketing@cricpa.com
Carrie S. Lanning 1997
5 10 12
Accounting and advisory firm, innovative tax, accounting, audit, consulting, and advisory services
Davis & Company CPAs P.O. Box 1552 Mount Pleasant, SC 29465
843-881-3315 www.davisandcompany.cpa zoe@davisandcocpas.com
Zoe M. Davis 2010
5 6 6
Assurance, tax and consulting services to non-profit organizations, employee benefit plans and homeowner associations
Accountfully 533 Rutledge Ave., Suite A Charleston, SC 29403
843-501-2774 www.accountfully.com hello@accountfully.com
Brad Ebenhoeh, Meredith Ebenhoeh 2012
4 29 24
Outsourced bookkeeping and accounting, tax preparation and planning, finance and advisory services, inventory management consulting
Ferira, Ainsworth & Co. LLC PO Box 41697 North Charleston, SC 29423
843-722-7676 www.contractorcpa.net joe.ferira@contractorcpa.net
Joseph W. Ferira, T. Dale Ainsworth 1978
3 4 6
Accounting and consulting for construction companies
Jackson CPA Firm LLC 721 Long Point Road, Suite 404 Mount Pleasant, SC 29464
843-856-0301 www.jacksoncpafirmsc.com frank@jacksoncpafirmsc.com
J. Franklin Jackson 1998
3 5 6
Accounting, auditing, tax return preparation and planning, bookkeeping, computer services and small business planning
McGuire & Co. LLC 1100 Queensborough Blvd., Suite 201 Mount Pleasant, SC 29464
843-577-5533 www.mcguirecpa.com officemanager@mcguirecpa.com
Andrea Hershberger, DJ Barnhill, Sharon C. Hartley 1982
3 4 5
Financial statement compilations, reviews, write-up, business advisory services, income tax planning and preparation, estate planning
Thiem McCutcheon Winkler CPAs P.A. 1040 Ewall St. Mount Pleasant, SC 29464
843-725-3838 www.tmwcpas.com info@tmwcpas.com
Samuel B. Winkler, J. Ben McCutcheon III, David E. Thiem 2009
3 7 8
Tax preparation and planning, compilation and reviews, business consulting and client accounting services
Smith, Kesler & Co. PA 1127 Queensborough Blvd., Suite 106 Mount Pleasant, SC 29464
843-388-1704 www.smithkesler.com peevans@skandco.com
Phillip E. Evans 1978
3 3 3
Audit, review and compilation services, corporate tax planning, corporate tax preparation with concentration in the construction industry
Taylor, Miles & Associates 1940 Trolley Road, Suite A Summerville, SC 29485
843-875-1774 www.taylormilescpa.com admin@taylormilescpa.com
Lori A. Myers Miles, Dawn Mayers 1987
2 2 7
Tax preparation and planning, accounting for businesses and individuals, QuickBooks, estates and trusts, business startup and entity selection
Ceterus 4900 O’Hear Ave., Suite 100 North Charleston, SC 29405
800-571-6119 www.ceterus.com marketing@ceterus.com
Christopher Rossie 2008
2 4 20
Automated accounting and bookkeeping, financial and non-financial industry and brand benchmarking, automated financial insights, franchisor reporting, tax return prep and filing
Glaser and Company, LLC 1859 Summerville Ave. Charleston, SC 29405
843-849-0179 www.glasercompany.com eglaser@glasercompany.com
Erik M. Glaser 2006
2 5 5
Audit, review, compilation services, affordable housing and nonprofit client services, tax preparation services and internal control consulting
Because of space constraints, sometimes only the top-ranked companies are published in the print edition. For a full list of participating organizations, visit scbiznews.com/buy-business-lists. Email additions or corrections to Listresearch@Bridgetowermedia.com.
At Work
BUSINESS DIGEST | PEOPLE IN THE NEWS | HOT PROPERTIES
Business Digest
Charleston American Marketing Association launches podcast
T
he Charleston American Marketing Association has launched its podcast, The Charleston Marketing Podcast, for Charleston’s marketing professionals. Featuring conversations with the Lowcountry’s movers and shakers, change makers and elite knowledge workers, each episode of The Charleston Marketing Podcast and YouTube channel strives to provide listeners with relevant and topical takeaways
Mission 46 seeks to transform SC through college scholarships
A new initiative called Mission 46 aims to eliminate the financial barrier to college by offering college scholarships to high-achieving students with financial need who live in one of the state’s 46 counties. Every dollar raised by the Meeting Street Scholarship Fund, the nonprofit behind Mission 46, goes directly to student scholarships. The fund has been backed primarily by the Navarro family and the Darla Moore Foundation Thus far, the three-year old Meeting Street Scholarship Fund has had $21.6 million committed in scholarships for 540 students. It plans to expand to 35 additional counties to serve more students. New donors, including retired businessman Dave Proctor, have provided more support, enabling the expansion to additional counties for 2023 high school graduates. Administrative costs to operate the fund are fully covered by the Navarros’ Beemok Family Foundation. The scholarship uses simple criteria to determine student eligibility: the South Carolina LIFE Scholarship for academic achieve-
ready to be applied and implemented. Hosted by Charleston American Marketing Association board members Stephanie Barrow and Mike Compton, the podcast features such guests as Will Hayine, mayor of Mount Pleasant; Nikki Kuniej, director of digital strategy, Charleston Radio Group; and Olivia Flowers, Southern Charm. Episodes are available on Spotify, YouTube, Buzzsprout, and CharlestonAMA.org. ment and federal Pell Grant for demonstrated financial need. The Meeting Street Scholarship Fund, which provides awards to cover the remaining costs after all other scholarships and need-based grants, is given prior to the use of student loans. Up to $10,000 per year is given per student for in-state tuition, fees, housing, or food costs. Every qualified student who applies for the scholarship will receive one; there is no limit to the number of scholarships granted. The Meeting Street Scholarship Fund is available to public school students in 11 counties: Barnwell, Charleston, Clarendon, Darlington, Dillon, Florence, Jasper, Lee, Marion, Marlboro and Williamsburg. The Meeting Street Scholarship Fund is one of the largest privately funded scholarship programs in the nation. A total of 261 outstanding students will attend one of 17 eligible in-state colleges this year with its assistance. Those colleges have a 50% or higher graduation rate, ensuring the greatest likelihood for successful completion of a degree. Supporters of Mission 46 include Sen. Sean Bennett (R-District 38) and Sen. Gerald Malloy (D-District 29).
More graduates from South Carolina colleges would result in significant benefits for the state. Research has shown that graduates of state colleges generally stay an average of 330 miles from their alma mater; 40% are within 50 miles. In addition, college graduates are more likely to be employed and have higher earnings than those without a college degree.
Global technology consulting firm expands to the Lowcountry
P3 is opening an office in Charleston. The consulting firm works with clients to apply technical and managerial best practices that implement tailored solutions with continuous guidance until a project or process is implemented and tangible value has been achieved. Founded in 1996 as a spin-off from a technical university, P3 has around 2,000 employees across 30 locations globally. The firm works within organizations and teams to develop and implement innovative solutions to complex technology challenges. Its customer network includes not only the major car manufacturers and their original-equipment manufacturers and suppliers but also energy providers, the public sector, and the government. More than 250 P3 consultants, engineers, and software specialists are now working on e-mobility, including technical transformation of powertrain systems, battery cells, the charging infrastructure or specific application scenarios. In addition, P3 works on market analysis, prepares studies, and participates in research projects.
Corcoran HM Properties moves to new downtown Charleston office
Corcoran HM Properties, an affiliate of the Corcoran Group, has moved into a
newly constructed building at 741 Meeting Street, in Charleston’s Upper Peninsula. Middle Street Partners recently completed this 30,000-square-foot commercial building for office suites, retail, and food and beverage businesses. The company, founded by Valerie Mitchener in Charlotte in 2006, expanded into Charleston in September 2022 to broaden the firm’s reach throughout the Carolinas. The expansion was its first since affiliating with the Corcoran Group in June 2021. In addition to the Charleston office, Corcoran HM Properties has three offices in the Charlotte region and is planning to expand into other areas in the Carolinas. The firm is licensed in North and South Carolina and has been the official Realtor of the Charlotte Hornets since 2010.
John M. Rivers is part of a family that traces its Charleston roots to 1670. (Photo/Provided)
Crush Yard pickleball center Opens in Mount Pleasant
Crush Yard, a pickleball “eatertainment” business on South Morgans Point Road in Mount Pleasant, held its grand opening in September. The grand opening party featured a DJ, photo opportunities, demos from pros, and more. CRBJ
People in the News BUSINESS SERVICES Case Status has appointed Charles Lee as chief customer officer. He succeeds Chuck Alsdurf, who had served as CCO and chief financial officer since 2018 and is now focusing on his CFO responsibilities. As the new Case Status CCO, Lee leads and scales the company’s business operations and customer-facing teams, including implementation, customer success, training and support. Lee joins Case Status with more than 20 years of experience across content, digital/ technology and SaaS. He was most recently CEO of Envoque. Prior to joining Envoque in 2022, Lee was senior executive vice president and head of North America at Tivian, where he led the growth and expansion of the
business in the region. In addition, Lee was the senior vice president for solutions, customer success and studios at GuideSpark. He also has a background in digital marketing and content operations, having served as the chief digital officer at Mod Op, and the chief operating officer and managing partner at Creative Asylum.
DESIGN Sam Herin, founding principal of SMHa, was recently elected president of the Clemson Architectural Foundation. Herin has a Bachelor of Science in design and Master of
Herin
Science in architecture.
EDUCATION Pattison’s Academy has appointed Laura Ganci as its new executive director. Ganci brings years of experience and expertise in research, analysis and planning from her Ganci previous roles, including her most recent position as the director of research, analysis and planning at the Children’s Services Council of Broward County, in Florida. With a record of strategic leadership and an aim to make a difference in the lives of chil-
dren, Ganci is poised to further Pattison’s Academy’s mission of providing exceptional education and support to children with multiple disabilities. Ganci has both a Master of Science and a Ph.D. in marriage and family therapy/counseling from Nova Southeastern University. To ensure continuity of services and smooth transition, Paige Knowlson continued working with Pattison’s through August.
FINANCIAL SERVICES The Mount Pleasant Pinnacle Asset Management team at Pinnacle Financial Partners has three new members: Manny See PEOPLE, Page 38
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December 4 - January 14, 2024
PEOPLE, from Page 37
Jimenez
Target your market in an upcoming issue of the Charleston Regional Business Journal
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Lists: Banks, Accounting Firms Special Section: Reader Rankings Advertising Deadline: November 20
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Lists: Professional Staffing Firms, HR & Payroll Advertising Deadline: January 2
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Schutter
Jimenez, Taylour Schutter and Jacob Wright. Jimenez is now a managing director. In his previous position as a managing director and senior finanWright cial adviser for Truist Securities, Jimenez managed more than $200 million for his clients. In addition to his other designations, Jimenez holds Finra series 7, series 63, series 65, series 9/10 and series 24 licenses. He received his bachelor’s degree from The Citadel. A sales assistant, Schutter previously served as a client service associate for Truist Investment Services, where she maintained positive long-term relationships with clients. She holds a bachelor’s degree from Austin Peay State University. Wright, a financial consultant, has 14 years of financial experience, most of it as a financial adviser for Truist Investments’ private client group. There, he helped clients with financial planning and investment management. He received his MBA from Campbell University and is a Certified Financial Planner.
LAW Saxton & Stump has added attorney Jennifer Williams to its Charleston office. Williams, who has an extensive background in business law, commercial real Williams estate, trusts and estates, and general counsel, comes to Saxton & Stump from her own firm. Williams is a graduate of the University of South Carolina School of Law and is admitted to practice in the state of South Carolina and the Federal District Court of South Carolina. Before establishing her own firm, she worked for a transactional firm in Charlotte, a civil litigation firm in Charleston, the attorney general’s office, and the Ninth Circuit solicitor’s office.
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The Charleston Friends of the Library has welcomed Leah Donaldson as the nonprofit’s new executive director. Donaldson joins the group after having worked
Donaldson
with nonprofit organizations for the last 16 years. Her experience has included establishing a 501(c)3, grant writing, and working in various aspects of nonprofits. She has managed program development, training, volunteer management, social media, event planning, community outreach and fundraising as well as handled administrative tasks. Donaldson has a master’s in urban planning and community development and is on the board of Charleston Habitat for Humanity, where she chairs the governance committee. The Friends of the Library back-toschool sale, presented by Crews Subaru, took place in August at the Bees Ferry West Ashley branch.
McKay
Duong
New to the Global Water Center board of directors are H. Chapman “Chappy” McKay and Thomas “Tom” Duong. McKay is vice president for sales and marketing and a partner with Trident Construction. Prior to joining Trident Construction, he served in leadership positions with McDevitt Street Bovis, the South Carolina Department of Commerce, and the Office of U.S. Senator Strom Thurmond; in addition, he was a banking officer with South Carolina National Bank. McKay serves on the Urban Land Institute’s South Carolina Coastal executive committee; the board and executive committee of the College of Charleston Foundation; and the Charleston Metro Chamber political action committee. A former commissioner for Mount Pleasant Waterworks, he serves on the city of Charleston Board of Zoning Appeals and the board of the Charlestowne Neighborhood Association. He is a member of the Charleston Rotary Club. McKay graduated from the College of Charleston and received an accreditation in economic development from the University of Oklahoma. He is a volunteer chaplain with Coastal Crisis Chaplaincy. Duong, a technology innovator, co-founded Assetas in Denver, where he launched an enterprise asset management and workflow automation software platform. He brings experience in startup ventures, product development, risk governance and regulatory compliance. Prior to founding Assetas, Duong co-founded and served as chief operations officer of Ecocion. He has an MBA from the University of Denver and a Bachelor of Science in mechanical engineering from the University of Houston. CRBJ
Viewpoint
VIEWS, PERSPECTIVES AND READERS’ LETTERS
PHOTO/GENE PHILLIPS
How strategic architectural partnerships can boost economic development
W
hen designing vibrant communities, city and county managers must balance population growth, budget constraints, and environmental sustainability to successfully plan for the future. However, they should not confront these challenges alone. As a former city manager, I discovered that enlisting the expertise of architectural advisors is essential to thoughtful municipal development. The right advisor DEMOURA will help position your project for a positive public response and make sure what gets responsibly built has the flexibility to account for future growth.
Securing public support
Strategic partnerships also foster collaboration between stakeholders, including government agencies, community organizations and the public, leading to more inclusive and robust outcomes. As a liaison between the municipal client and the communities they serve, architectural advisors can help build support for a project. When Spartanburg sought to pass a capital projects penny sales tax referendum to fund various capital projects, McMillan Pazdan Smith (MPS) advo-
cated alongside OneSpartanburg, Inc. for the initiative that later expanded to a second referendum. MPS filled a role that the city/county could not due to state law restrictions. “Spartanburg has led the state in new investment and job creation for quite some time due in large part to private sector advocates like MPS,” said Allen Smith, President and CEO of OneSpartanburg, Spartanburg’s economic development organization. The six-year penny tax funded the construction of a new judicial center, a mixed-use police building/municipal court, a new emergency operations center, parking garages, and a city-county complex that remains underway. The second referendum, on the ballot this November, would fund roughly $478 million in infrastructure projects.
Identifying technology and design trends
Architects are increasingly incorporating smart technologies into their designs. They can utilize GIS to analyze demographic data, align staffing projections, and visualize the future needs of your municipality to detect possible master planning blind spots. This can be especially helpful prior to purchasing property for future facilities. Examining your capital improvement plan and identifying the potential for dual-purpose spaces can lower development costs and balance the operational needs of your local government with the
needs of your community. This can help create vibrant and active public spaces, generate new revenue streams and assist in data-driven decision making
Improving RFQ response rates for Public-Private Partnerships (P3s)
“Perhaps one of the most valuable ways in which city and county managers can optimize their architectural partnerships is by having designers review their requests for qualifications (RFQs) before making them public,” said William Gray, McMillan Pazdan Smith Architecture’s Spartanburg, South Carolina Studio Director. “This is particularly helpful when seeking developers to respond to an RFQ because they are not likely to be familiar with government procurement or even see it advertised on a website.” Connecting your municipality with developers before the advertisement can help identify any shortcomings. Advisors can help facilitate early feedback about constructability, performance requirements, financing options, and how clearly the RFQ states the municipality’s goals and procurement process. They may also suggest an alternative project delivery method that would attract more responses to your RFQ.
Selecting the right partner
“You want a partner that seems genuinely excited and engaged by your project and can complete it without delaying other development efforts or diverting funds from those projects just to complete
theirs,” said MPS Principal K.J. Jacobs. Jacobs recommends contacting your network of city and county managers statewide for references before hiring an architectural firm. Once you shortlist potential partners, ask how they can help your municipality address its needs. If they have tunnel vision and are solely focused on the vertical project they’d lead, it may indicate that they won’t prioritize a holistic approach to municipal development. A strong spacial planner can help you seperate the wants from the needs. An architect’s expertise in spatial planning, aesthetics and functionality allows them to envision and implement projects that meet your community’s needs while adhering to budgetary and regulatory constraints. Embracing these partnerships can unlock the full potential of municipal development and positively shape the future of our communities. Katherine DeMoura is the Regional Business Development Leader, at McMillan Pazdan Smith and a former city administrator, She is a member of the International City and County Management Association and maintains her ICMA Credentialed Manager Status.
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