Charleston Business News
BUSINESS NEWS
South Carolina Lawmakers Address Rising Liquor Insurance Costs
News Summary South Carolina lawmakers are proposing new legislation to reduce liquor liability insurance costs for local businesses as rates have skyrocketed. With premiums doubling for 2024, many establishments are...
BMW Stands Strong in Spartanburg Amid Criticism
News Summary BMW faces criticism over its operations in Spartanburg, South Carolina, with claims about minimal American labor involvement. However, the company underscores its commitment to the local economy, employing...
South Carolina’s Vision for the Future of Manufacturing
News Summary The South Carolina Manufacturers Alliance (SCMA) has unveiled an ambitious vision aimed at transforming the manufacturing landscape by 2025. This initiative focuses on innovation, job creation, and economic...
Duke Energy Foundation Allocates $500,000 in Grants for SC
News Summary The Duke Energy Foundation has announced a $500,000 grant program to enhance disaster response efforts and support aging populations in South Carolina. The funding is part of their...
Charleston Women Entrepreneurs Receive New Resource Guide
News Summary Two organizations, Like Minded CHS and The Brighterside Society, have partnered to launch ‘The Ultimate Women Entrepreneur Guide: Charleston, SC.’ This free resource aims to empower women business...
Charleston Welcomes New Italian Restaurant Legami
News Summary Legami, a contemporary Italian restaurant, has opened its doors in downtown Charleston at 492 King St. Operated by Washington Street Hospitality, the restaurant seamlessly combines Italian traditions with...
New Publix Super Market Coming to Powdersville Plaza
News Summary A new Publix Super Market is set to open in Powdersville Plaza, taking over the former Bi-Lo site. This 50,000 square foot store will offer a wide variety...
South Carolina and Canada Forge $5 Billion Trade Partnership
News Summary South Carolina and Canada are embarking on a transformative trade relationship valued at $5 billion, marking a significant milestone in inward investments. With South Carolina exporting nearly $5...
South Carolina Timber Industry Faces Existential Crisis
News Summary The timber industry in South Carolina is facing severe challenges with mill closures, particularly after the recent announcement from International Paper to close its Georgetown mill, eliminating around...
FINANCE
Pensievision Selected for Prestigious Luminate NY Accelerator
News Summary Pensievision, a Charleston-based startup, has been selected to join the Luminate NY accelerator, being one of only 10 firms chosen globally. This program will bolster their innovative work...
BELAY Acquires Accountfully to Expand Outsourced Accounting in Charleston
News Summary BELAY, an Atlanta-based staffing company, has acquired local accounting firm Accountfully, enhancing outsourced accounting services for small and mid-sized businesses in Charleston. Founded in 2012, Accountfully is known...
Charleston County Paves the Way for More Affordable Housing
News Summary Charleston County has approved a $30 million sale of county-owned properties on Morrison Drive to develop affordable housing units. This unanimous decision marks a significant step in addressing...
New Financial Firm Launches in Downtown Charleston
News Summary Hudnall Capital Advisors has opened in downtown Charleston, offering a wide range of financial services including investment management, estate planning, and tax mitigation. Founded by local entrepreneur Ry...
Self-Help Credit Union Appoints New Regional Manager in Charleston
News Summary Self-Help Credit Union announces Rebecca Walker as the new regional manager for Charleston. With extensive experience in finance and community engagement, she aims to improve financial services access....
Navigating the Charleston Housing Market: A Guide for First-Time Buyers
News Summary As the Charleston housing market becomes increasingly competitive, first-time buyers face challenges due to rising prices and low supply. This guide offers insights on the local market, highlights...
Scott Bessent Appears for Senate Confirmation Hearing
News Summary Scott Bessent, nominated to be the U.S. Treasury Secretary, is preparing for his Senate confirmation hearing scheduled for January 16, 2025. The hedge fund investor, whose financial assets...
SouthState Bank Sells and Leases Back 170 Branches
News Summary SouthState Bank has announced a significant sale and leaseback of about 170 branches across six states, valued at $475 million. This strategic move aims to optimize operations while...
South Carolina Insurance Provider Atlantic Coast Faces Challenges Amid 100-Year Celebration
News Summary As Atlantic Coast Life Insurance Co. gears up to celebrate its 100th anniversary in Charleston, it faces serious financial challenges. With regulators halting new policies due to concerns...
CONSTRUCTION
New Publix Super Market Coming to Powdersville Plaza
News Summary A new Publix Super Market is set to open in Powdersville Plaza, taking over the former Bi-Lo site. This 50,000 square foot store will offer a wide variety...
South Carolina and Canada Forge $5 Billion Trade Partnership
News Summary South Carolina and Canada are embarking on a transformative trade relationship valued at $5 billion, marking a significant milestone in inward investments. With South Carolina exporting nearly $5...
New Plans for Union Pier Redevelopment in Charleston
News Summary Charleston’s City Council has approved a Tax Increment Financing District for Union Pier redevelopment, projected to bring $2 billion in private investments and generate $47 million annually in...
South Carolina Named Top Growth State of 2024
News Summary South Carolina has been recognized as the number one growth state for 2024, surpassing Texas. With a cost of living 7% below the national average and a variety...
Goose Creek Welcomes New Chapter in Shipbuilding
News Summary Goose Creek, South Carolina, marks a significant milestone in shipbuilding as HII acquires W International SC LLC and Vivid Empire SC LLC. This acquisition leads to the establishment...
Bessemer City Introduces New Housing at Lofts at Osage Mill
News Summary Bessemer City, NC, is celebrating the grand opening of the Lofts at Osage Mill, transforming an abandoned textile mill into 139 affordable apartments. After an investment of $36...
New Housing Developments Bring Relief to Charleston Renters
News Summary New housing developments in Charleston, particularly on James Island and West Ashley, are providing fresh rental options as housing prices soar. The Brisbane neighborhood features 30 new single-family...
Charleston’s Hotel Development Boom Unveiled
News Summary Charleston is undergoing a significant hotel development boom with multiple new projects set to redefine the city’s hospitality landscape. Key developments include a boutique hotel on King Street,...
South Carolina Leads U.S. in Population Growth for 2024
News Summary South Carolina has officially become the top state for population growth in 2024, surpassing Texas with a growth rate of 1.06%. The Palmetto State’s attractive cost of living,...
MARKETING
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REAL ESTATE
BMW Stands Strong in Spartanburg Amid Criticism
News Summary BMW faces criticism over its operations in Spartanburg, South Carolina, with claims about minimal American labor involvement. However, the company underscores its commitment to the local economy, employing...
New Publix Super Market Coming to Powdersville Plaza
News Summary A new Publix Super Market is set to open in Powdersville Plaza, taking over the former Bi-Lo site. This 50,000 square foot store will offer a wide variety...
South Carolina and Canada Forge $5 Billion Trade Partnership
News Summary South Carolina and Canada are embarking on a transformative trade relationship valued at $5 billion, marking a significant milestone in inward investments. With South Carolina exporting nearly $5...
South Carolina Timber Industry Faces Existential Crisis
News Summary The timber industry in South Carolina is facing severe challenges with mill closures, particularly after the recent announcement from International Paper to close its Georgetown mill, eliminating around...
New Plans for Union Pier Redevelopment in Charleston
News Summary Charleston’s City Council has approved a Tax Increment Financing District for Union Pier redevelopment, projected to bring $2 billion in private investments and generate $47 million annually in...
South Carolina Named Top Growth State of 2024
News Summary South Carolina has been recognized as the number one growth state for 2024, surpassing Texas. With a cost of living 7% below the national average and a variety...
Bessemer City Introduces New Housing at Lofts at Osage Mill
News Summary Bessemer City, NC, is celebrating the grand opening of the Lofts at Osage Mill, transforming an abandoned textile mill into 139 affordable apartments. After an investment of $36...
New Housing Developments Bring Relief to Charleston Renters
News Summary New housing developments in Charleston, particularly on James Island and West Ashley, are providing fresh rental options as housing prices soar. The Brisbane neighborhood features 30 new single-family...
Charleston’s Hotel Development Boom Unveiled
News Summary Charleston is undergoing a significant hotel development boom with multiple new projects set to redefine the city’s hospitality landscape. Key developments include a boutique hotel on King Street,...
