GSP UPDATES

The Business of Upstate, South Carolina

February 2019 Newsletter

Spartanburg

A lot is happening downtown…

Koch and Gray jewelers to be redeveloped. (GoUpstate)

The Cambria Hotel appears to be getting the green light.  (GoUpstate)

Raising the roof at the old Social Security Building for a mixed use development. (GoUpstate)

The Snyder Electric property could be sold. (GoUpstate)

And not too far away…

UCB opens at Main and Pine. (GoUpstate)

The Mary Black Foundation Rail Trail surpassed 100,000 annual uses in 2018. (PALS)

Development with apartments, retail, and a hotel has been announced near the Star Center. (GoUpstate)

Ten residential projects, ~1,300 new units in Spartanburg County may address the need for more housing. (GoUpstate)

The Upstate

Has the wind shifted?  Economic development in GVL fell from $336 million invested / 1,800 jobs created in 2017 to $151 million invested / 1,500 jobs created in 2018.  However, Spartanburg County saw several new projects in 2018: Keurig ($350 million), Grupo Antolin ($150 million) and Draexlmaier ($42.7 million).  (Greenville Online)

Too much of a good thing?  This restaurant found that a lot of traffic didn’t equal a lot of business (on Woodruff Rd). (Greenville Online)

Solar is booming….in Spartanburg (GoUpstate)…and the rest of the state. (Columbia Business Monthly)

GSP Airport sets record with 15 consecutive months of increased passenger activity – a 10.3% increase in passengers for December 2018. (Greenville Business Magazine)

And in dining news…

Spartanburg-based Eggs Up Grill has started construction on its flagship restaurant at 551 E. Main St (Converse Corners shopping center).  (Upstate Business Journal)

Rick Erwin Dining Group unveils its Saltwater Kitchen for Haywood. (Greenville Journal)

The State

Why do inland ports exist? (DC Velocity)

Tourism is $22.6 billion industry in South Carolina. (SCPRT)

Train service for tourists? Carolina Special: ASH > SPA > COL > CHS (Columbia Business Monthly) H/T Greenville Business Magazine

The Southeast

Two regional lenders will combine to form the 6th largest US retail bank, a move that sounds like it was mainly driven by the need for scale to deploy new technologies. 
Interesting facts:  BB&T encourages employees to keep gratitude journals and SunTrust held the recipe to Coke in its vault from 1925-2011.  (WSJ) 

The Bigger Picture

The world’s busiest ports. (Visual Capitalist)

Could textiles make their way back to the US? (Sourcing Journal)

Bio-waste to bricks? (NYTimes)

Thanks for reading!

January 2019 Newsletter

The Upstate

Not just passing through anymore – tourists spent a record $278 million in Spartanburg County last year, up almost $90 million from five years ago.  Also, hotel room growth is up 23% in the last two years.  (Post and Courier)

A guide to Greenville, complete with event calendar (p 70).  I’ll bet you find something in this guide you didn’t know about. I liked the Gateway Walks, starting on page 84 – clever way to showcase the city.  (Community Journals via Issuu)

Is there still hope for the Bass Pro Shop in Greer? (Greenville News)

New solar projects planned in Spartanburg county. (Greenville Business Magazine)

BMW begins building the new X7 at the Spartanburg plant. (UBJ)

Below the radar…Mid-size companies are a significant part of the state’s economy. (Greenville Business Magazine)

Back story to the GVL’s County Square Development Team. (UBJ)

Greenville Business Magazine lists 50 influential people from the region. (GBM)

Passenger and Cargo traffic continues to rise at GSP International Airport. (UBJ)

Spartanburg Regional buys Mary Black. (GSA Business Report)

A survey shows 75% of downtown Spartanburg businesses reported increased revenues over the past 3 years. (WSPA)

The State

Alarming…
“Since 2008, South Carolina saw its total student loan debt increase by 315%, growing from $5.5 billion to $23 billion.” (Experian) H/T GVL Today Newsletter

The State Ports Authority enjoyed its third consecutive year of record containerized cargo growth in 2018 – 6.8 percent (Post and Courier)  Also, it is considering a plan to use barges to move containers.  (Post and Courier)

See also, BMW may ship partially assembled cars in containers to South Africa, China and Thailand. (Post and Courier)

C&M Hog Farm opens a transload facility at Inland Port Dillon…a good example of how the inland port system could support state agriculture. (Progressive Rail Roading)

Automotive gets a lot of attention, but Aerospace is a big hitter too – adding $14.1 billion to the state’s GDP.  (Greenville Business Magazine)

The Bigger Picture

How to fund Land Banks (ShelterForce)

Wearables appear to be catching on.  Apple reported 50% year-over-year growth in these types of devices, driven by the popularity of the Apple Watch and AirPods among holiday shoppers.  (Apple)

Thanks for reading!

December 2018 Newsletter

Spartanburg

‘Tis the season of giving…Spartanburg County Foundation announces new $8M Center for Philanthropy.  (GoUpstate)

The Inland Port is expanding and receives $25M from the US DOT. (GSA Business Report)

More industrial spec building near the Inland Port (Greenville Business Magazine) and some in Spartanburg too (UBJ)

A twist of fate…BMW considers second plant in the US to help offset the impact of tariffs and currency fluctuations. (Post and Courier)
See also The BMW Effect -25 years later the auto manufacturing sector makes up about 5% to 7% of the total employment base for SC.  (Greenville Business Magazine)

The 94 year old Montgomery building has reopened (see pics of the inside here – Upstate Business Journal)

The Bigger Picture

Richard Branson’s Virgin Rails USA may be considering an Atlanta to Charlotte rail line…meaning it may make a stop in the Upstate (see page 9, paragraph 2 SEC) Hat Tip to Greenville Business Mag

Hard to believe…The United States has as many as two billion parking spots for about 250 million cars (City Lab)