Let’s envision a stronger South Carolina, together!

Day two of the SC Leadership Exchange kicked off with an address on the state of commerce from recently appointed Secretary of Commerce of SCDOC, Harry Lightsey III. Researchers have pointed out that South Carolina businesses do so well because the operating cost for businesses in the state is among the lowest in the country. With an extensive background in telecommunications and automotive industries, Lightsey provides a perspective on how South Carolina can continue to capitalize on this to develop thriving industries.

• As the East Coast is growing in popularity for businesses to relocate or make roots, South Carolina is leading in the charge with its many assets to attract new businesses.
  • The Port is an incredible asset for imports and exports
  • Hardworking, innovative and creative citizens
  • Having policies that will work in favor of new businesses
  • Amazing quality of life complete with long coastline, midlands and mountains.
• Who is our competition in attracting new businesses? Neighboring states including North Carolina and Georgia, as well as Florida, Tennessee and Texas. We are even competing internationally.
• South Carolina is leading in agriculture and manufacturing, however, to be a true competitor, we need to explore new businesses in artificial intelligence and information technologies.
• We need to pay attention to what members of the rural areas need and want; we want to help them achieve a higher quality of life without radically changing it.

Lightsey left one final thought to businesses pondering coming to South Carolina, “What makes South Carolina different from other states is that when someone from SC says, “I’m going to do___,” you can take that to the bank because they will do it.” Our citizens have always shown they can overcome adversity and are easy to collaborate with.

Following Harry Lightsey III, Senator Mel Martinez, Chairman of the Southeast U.S. & Latin America with JPMorgan Chase & Co. shares the history of the U.S. and Cuba relations in a conversation with Anita Zucker, Chairman and CEO of the InterTech Group. As a Cuban immigrant himself, Senator Martinez shares his background and journey to becoming a U.S. Citizen, immigration reform initiatives and solutions for housing attainability.

• Immigrants have made great contributions to our country and we need to accept and acknowledge that immigrants and foreign talent can be great assets to our businesses and help with labor shortages.
• With heavy emphasis on immigration reform, there is a need for bettering the relationship between immigrants and law enforcement.
• Under the Martinez Doctrine and new administration, there is a hope that the U.S. can serve as a guide for Cuban citizens who seek freedom.
• Collaborations with the county and local businesses will allow for infrastructure development and result in an increase in educational capacity.
• Critical need for more attainable housing can be resolved with collaboration with the community, housing developments and state and federal government.

“Our system of government was not designed on “my way or the highway” but on compromise.”

Senator Mel Martinez

Senator Martinez left us with a great tradition that took place in Senate offices, a communal candy jar as a way to humanize politicians, give them time to talk about personal matters and unwind at the end of the day.

In the next session, moderated by Cheryl Gibson, Director of Talent & Workforce with the Greenville Chamber, we were joined by Dr. Amy Firestone, Director of Apprenticeship Carolina based out of Columbia, SC. South Carolina has gained national recognition for the work it has done in the development or youth and adult apprenticeships. Funding for these apprenticeships did received $8M and $7.7M grants to focus on diversity, equity and inclusion initiatives and anticipated to be implemented in the next four years.

While companies may have concerns and objections to minors working, apprenticeships can develop the talent of students and retain them as employees. Firestone encourages businesses to take advantage of this opportunity and relays that the process is not difficult. The trainings are completely customizable, the set-up is at zero cost with a tax credit given by the state.

As mentioned in day one of our conference, one of the many attractions for businesses coming to South Carolina is that we are a business-friendly state with easy-to-understand policies. However, there are some unfair and unreasonable laws adding to the cons list for companies. Our tort reform session, moderated by Lynn Stokes-Murray, Government Relations Director with Burr Forman LLP, and Shannon Bruning, Consultant with Burr Forman LLP, with panelists Leslie Clark, Vice President of Operations and Director of Government Relations and Divisions with Carolinas Associated General Contractors and Sara Hazzard, President and CEO of South Carolina Manufacturers Alliance, discussed how we as a state can maintain our competitive edge against neighboring states.

• Amidst the challenges, businesses and contractors were doing what they could to follow safety guidelines and implemented more safety protocols, however, this effected competition with states like North Carolina and Georgia.
• The insurance costs impacted contractors negatively, it is becoming frustrating and harder to afford insurance policies. To keep premiums lower, contractors will purchase larger packages.
• Construction claims and laws are becoming harder to navigate with constant changes to technology and laws.

Our panelists stress the need to reevaluate South Carolina’s tort laws, encourage citizens to get involved in the SC Coalition for Lawsuit Reform and contact their legislators. Grassroot support is needed from everyone and the general assembly needs to know about this! Our laws must hold accountable those who are responsible, not punish those who are successful. It is time to reevaluate our state’s tort laws.

If you want to get involved in the coalition, visit sclawsuitreform.org

In our final session, Jim Glassman, Head Economist, Commercial Banking with J.P. Chase Morgan, shared insights to help executives better understand the changing economy and its impact on their businesses.

• Nationwide the growth in population has been slowing down. Looking at it regionally, the Northeast is growing drastically slower than the Southeast. As the baby boomer generation retires and ages, they move to the South; and infrastructure, building and economic energy is going to follow.
• There aren’t enough people joining the workforce. A primary goal in Washington D.C. is to get people back to work and get the economy back up.
  • Glassman doesn’t believe that government benefits and stimulus packages stopped people from returning to work but does agree that benefits did put citizens in a better financial place than they probably were before.
• Though expected to be short-term, there is a dominant worry with bottlenecks in the economy, meaning the demand side recovered much faster than the supply side.
• Businesses have gone into survival mode and are still trying to catch up from when they were locked down.
• To combat and resolve the labor shortage, there needs to be more advances in immigration reform.

This conference truly offered robust information and powerhouse speakers for South Carolina business leaders! Thank you to all of those that attended this year’s SC Leadership Exchange and we look forward to further collaborating in the future.

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