State Tax Relief Talks Get Serious

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Dueling proposals to address South Carolina’s tax climate were released last week as lawmakers learned that the state has a more significant amount of surplus revenue than initially forecasted. On Tuesday, Governor Henry McMaster and members of House Republican leadership, including Speaker Jay Lucas (R-Darlington), Ways and Means Committee Chairman Murrell Smith (R-Sumter), and Majority Leader Gary Simrill (R-York), released a proposal that would simplify the state’s tax code and reduce the top marginal individual income tax rate.

The proposal would collapse the current six income tax brackets into two, with earners of $16,040 or less paying a rate of 3% immediately and earners of $16,040 or more paying a rate of 6.5%. Additionally, the 6.5% rate would be reduced to 6% over five years. Currently, South Carolina has the highest marginal individual income tax rate (7%) in the southeast.

Senate Finance Committee Chairman Harvey Peeler (R-Cherokee) introduced his comprehensive tax relief bill (S.1087) on Thursday with many Republican and Democratic co-sponsors. Items in his proposal include:

  • An immediate reduction of the top marginal individual income tax rate from 7% to 5.7%
  • An immediate deduction of all military retirement income from South Carolina taxable income
  • A lowering of the industrial property tax rate from 10.5% to 6% while keeping the current fee in lieu system in place
  • A Taxpayer Rebate Fund and an allocation of $1 billion to the fund for a one-time rebate to taxpayers.

Leadership Florence Class Visits Columbia

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Leadership Florence had the opportunity to join a tour of the SC State House and meet with Governor Henry McMaster and Representatives Phillip Lowe, Roger Kirby and Robert Williams.

The class heard from Madeline McGee of Together SC and Cynthia Bennett of the South Carolina Chamber of Commerce.

The day ended with an informational tour of Williams-Brice Stadium.

The School Foundation Gala Set For March 24

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The 21st annual School Foundation gala will be held on March 24, 2022. Francis S. (Bo) Godbold, a 1961 graduate of McClenaghan High School, is this year’s honoree. He is the Vice-Chairman of the board at Raymond James Financial, Inc., and a trustee-emeritus of Georgia Tech Foundation, Incorporated. Make your reservation today.

For more information, click here.

Growing Your Business Webinar March 10

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Do you want to expand your business but don’t know how to finance that growth? Could your cash flow be better managed? Is new equipment, additional staff or a different location part of your future?

BB&T now Truist would like to help you grow your business. This Growing Your Business webinar will share ways to make sure your business is ready for growth. This webinar will discuss separation of business from personal finances, credit and borrowing options, accepting payments, insurance solutions, and more.

To join this webinar on March 10th at 11:30, click here:
Join WebEx meeting
Meeting number (access code): 2535 481 4819
Meeting password: HrWU8VBUw36 (47988828 from phones) 

Rural Spotlight: Promoting Small Business Development in South Carolina

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Richmond Fed Research provides the latest economic analysis and data from the Research Department at the Federal Reserve Bank of Richmond. In their recent, Feb 16  podcast, Tressa Gardner, Associate Vice President of the Southeastern Institute of Manufacturing and Technology provided an overview of what SiMT, the Gould Incubator and other programs that it operates, are doing in supporting small business development in Northeastern South Carolina. Check it out by clicking here.

Masterworks Choir Winter Concert

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The Masterworks Choir will present their Winter Concert on Sunday, March 13th at 4:00 pm at Central United Methodist Church.  The concert will feature great works for choir and organ.  There is no charge to attend, and all are welcome!

For more information, visit their website.

SC Chamber Statement on Chairman Peeler’s Tax Reform Proposal

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In response to SC Senate Finance Chairman Harvey Peeler’s tax reform proposal, South Carolina Chamber of Commerce President and CEO Bob Morgan released the following statement:

“Chairman Peeler’s tax reform proposal would offer much needed relief to businesses and residents across South Carolina. We are encouraged to see that lawmakers recognize the importance of reducing tax burdens on individuals and manufacturers to make our state more competitive, and we will continue to work with them to ensure a strong tax cut bill makes it across the finish line.”

Read the full 2022 Competitiveness Agenda here.

VIP Bridal Expands to Include Event Planning and Celebrates with Chamber

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VIP Bridal Showroom in Florence celebrated joining the Greater Florence Chamber of Commerce with a ribbon cutting on Tuesday, February 15. Owner Ellen Visel and Store Manager Cara Dowling and staff were joined by Chamber staff and ambassadors for the ribbon cutting.

Visel said they were also celebrating a new phase and expansion for the business, VIP planning services. The business will now help brides not only find the perfect wedding dress but help them in the planning of their very special event.

Visel said she has been at the 1826 Sally Hill Farms Boulevard location for a year. Prior to opening VIP Bridal Showroom she owned Juliet’s Bridal and Formal Wear for about three years.

VIP Bridal Showroom has an extensive collection of wedding gowns, bridesmaids, mother-of-the-bride and flower girl dresses, as well as prom and pageant evening gowns and tuxedo rentals.

To read the full story, click here.

Cheney Brothers Establishing Operations in Florence County

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For Immediate Release

February 23, 2022

 

Cheney Brothers establishing operations in Florence County

$66 million investment to create 280 new jobs

 

COLUMBIA, S.C. – Cheney Brothers, a leading broadline food distributor, today announced plans to construct a new distribution center in Florence County. The company’s $66 million investment will create 280 new jobs.

Family-owned and -operated since 1925, Cheney Brothers offers more than 16,000 different products including food, paper and chemicals.

With locations in Florida, Georgia and North Carolina, Cheney Brothers is locating its newest facility at Pee Dee Commerce City East Industrial Park in Florence to meet the growing demand of the region. The project will consist of a modern 400,000-square-foot refrigerator/freezer distribution facility, over 45 loading docks, a Cheney Express and exquisite culinary kitchen.

Individuals interested in joining the Cheney Brothers team should visit the company’s website.

The Coordinating Council for Economic Development has approved job development credits related to this project.

QUOTES 

“Cheney Brothers’ market share continues to grow across the Southeast, and it was important to us to meet our customer demands in South Carolina. Florence was the logical choice to locate the new facility, considering the great access and the superior interstate system of transportation. The city, county and state have been very supportive and easy to work with throughout the process.” -Cheney Brothers CEO and Chairman of the Board Byron Russell

“South Carolina has a rich culinary heritage and our thriving food distribution industry helps ensure our tradition continues to grow. We welcome Cheney Brothers to Florence County, and we look forward to a successful partnership.”-Gov. Henry McMaster

“South Carolina has continued to show that it is the right place for companies to do business, especially for companies looking to move products efficiently to customers. Our state continues to see its distribution and logistics sector grow, and today’s announcement by Cheney Brothers is another indication of that success.” -Secretary of Commerce Harry M. Lightsey III

“We are excited to welcome Cheney Brothers to Florence County. Distribution companies continue to recognize the strong logistical and supply chain advantages to locating in Florence County, namely Florence County’s location at the intersection of I-95 and I-20. The creation of 280 new jobs by Cheney Brothers will yield a positive impact in our community.” -Florence County Council Chairman Willard Dorriety Jr.

FIVE FAST FACTS

  • Cheney Brothers is establishing operations in Florence County.
  • $66 million investment to create 280 new jobs.
  • Cheney Brothers is a leading foodservice distributor.
  • Locating at Pee Dee Commerce City East Industrial Park in Florence, S.C.
  • Individuals interested in joining the Cheney Brothers team should visit the company’s website.

 

The School Foundation Makes $130,000 Available for Major Grant

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The School Foundation seeks grant requests that align with the five areas of focus: Literacy, Mathematics, Early Childhood, Technology or Fine Arts. $130,000 is available for grants this cycle.

Grant applications for the 2022 – 2023 school year will be accepted from Florence 1 Schools Educators until April 28, 2022.

Grant Categories

There is one grant category this year, Major Grants, which should seek to have a broad impact across the entire school district and help prepare our students for success in a worldwide economy. The Foundation will not be able to fund all requests due to budgetary constraints. This does not mean that a rejected request is inappropriate or unsatisfactory.

To learn more, visit their website here.