South Carolina: ‘Strong Month of Job Growth’

Payroll employment in South Carolina increased 7,200 jobs (0.3 percent) in March, according to the Federal Reserve Bank of Richmond.

The unemployment rate remained constant at 3.1 percent.

"South Carolina had a strong month of job growth, adding 7,200 jobs in March. The state is now 162,000 jobs above pre-Covid levels (up 7.4 percent), " said Laura Ullrich, a senior regional economist at the Charlotte branch of the Richmond Fed.

The leisure and hospitality sector had the largest increase in jobs month-over month (2,300 jobs) followed by business and professional services (2,000 jobs) and education and health services (1,600 jobs).

Additionally, trade, transportation, and utilities (900 jobs), government (500 jobs), and financial activities (300 jobs) each saw additional jobs added in March.

Job declines occurred only in the construction sector (600 jobs).

On a year-over-year basis, payroll employment in South Carolina increased by 65,200 jobs (2.8 percent), on net.

The labor force in South Carolina continues to grow, increasing by 5,000 in March. The labor force is now up 4.8 percent compared to February 2020. The unemployment rate was up from 3.0 percent a year ago.

Among housing market conditions, residential permitting activity increased 5.5 percent in South Carolina from January to February and was up 36.3 percent from its level a year ago.

According to the Federal Housing Finance Agency, home values in South Carolina appreciated 7.8 percent from the fourth quarter of 2022 to the fourth quarter of 2023.

Sonoco, ENGIE Announce 140 Megawatt Virtual Power Purchase Agreement

Hartsville, South Carolina-based Sonoco Products Company (NYSE:SON), one of the largest global sustainable packaging companies, and Houston, Texas-based ENGIE North America said they have entered into a Virtual Power Purchase Agreement (“VPPA”) for production from ENGIE’s Big Sampson Wind Project, a wind power project under construction in Crockett County, Texas.

Under the VPPA and subject to certain conditions, Sonoco and ENGIE have agreed to contract for an estimated 140 megawatts of electricity per year, representing approximately 48 percent of Sonoco’s U.S. electricity consumption in 2025 and approximately 52 percent of the expected output capacity of Big Sampson, for 15 years beginning with Big Sampson’s entry into commercial operation.

Sonoco officials said the VPPA represents another step in the company’s integrated approach to corporate sustainability.

The officials said the company aims to reduce global Scope 1 and Scope 2 emissions by 25 percent by 2030 from a 2020 baseline through various corporate initiatives, including improved packaging design, installing energy-efficient equipment and procuring renewable energy sources.

They said the VPPA is an example of these efforts, with renewable energy credits acquired under the VPPA expected to help reduce Sonoco’s baseline carbon emissions by approximately 14 percent.

“Collaborative projects like Big Sampson have the potential to help us make progress toward our emissions targets while delivering clean, reliable power to the communities they serve,” said Elizabeth Rhue, Sonoco’s vice president of Environmental, Sustainability, & Technical Services. 

The project is expected to be completed in late 2025 and will be an addition to ENGIE North America’s more than seven gigawatts of renewable energy production in operation or under construction across the United States and Canada.

The Big Sampson Wind Project is designed to consist of 60 wind turbines, each expected to have a generating capacity of 4.5 megawatts.

The project will employ roughly 400 skilled construction professionals and once operational, about 10 to 15 full-time professionals will support the system on-site.

In addition to jobs, Big Sampson is expected to provide long-term tax revenues for both Crocket County and local school districts of more than $60 million over the 15-year life of the project.

With net sales of approximately $6.8 billion in 2023, Sonoco has approximately 23,000 employees working in more than 300 operations around the world.

ENGIE North America Inc. is a regional hub of ENGIE (ENGI.PA), a global leader in low-carbon energy and services that is listed on the Paris and Brussels Stock Exchanges. 

Zeus Names Chief Technology Officer

Zeus, an Orangeburg, South Carolina-based leader in polymer extrusion and catheter manufacturing, appointed Suresh Sainath as chief technology officer.

In the newly created role, Sainath will lead the company's efforts to accelerate innovation and leverage the advanced capabilities of its component and contract manufacturing platforms.

Company officials said his appointment is expected to galvanize Zeus' global research and development strategy, underpinning the company's long-term, sustainable growth trajectory through technological innovation and advancements.

Sainath holds a Master of Science in Mechanical Engineering from Stanford University. He has led and co-founded several successful MedTech companies, including CathX Medical, which Zeus acquired in June 2021.

Company officials said that over the past two decades, Sainath has demonstrated his expertise in delivering forward-thinking catheter design, prototyping, manufacturing, and assembly services to leading original equipment manufacturers (OEMs) and medical device companies worldwide.

Under his stewardship, the catheter solutions division within Zeus experienced remarkable growth, doubling in size across various metrics such as revenue, workforce, capabilities, and global footprint, the officials said.

“With a dedicated focus on developing end-to-end catheter solutions using the most advanced technologies and the highest quality components, we can help streamline our customers' supply chain by increasing speed to market, lowering costs, and reducing risks throughout a product's lifecycle," Sainath said.

The company employs over 2,400 people worldwide with facilities in Aiken, Columbia, Gaston, and Orangeburg, South Carolina; Branchburg, New Jersey; Chattanooga, Tennessee; San Jose, California; Arden Hills, Minnesota; and Letterkenny, Ireland.

Veterans Help Group Announces $10,000 Donation to National Medal of Honor Center for Leadership

Veterans Help Group (VHG) announced a $10,000 donation to the National Medal of Honor Center for Leadership, located at Patriots Point outside of Charleston, South Carolina.

"The Medal of Honor is the highest award for military valor in the United States and represents the best version of America," said Joe Waring, a board member for VHG. "We are privileged by the opportunity to help serve."

Through the lens of the six values of the Medal of Honor – courage, sacrifice, commitment, integrity, citizenship, and patriotism – the Center offers guidance and inspiration.

Officials say its programs and resources are designed to empower every individual to live life with purpose and to do the right thing, regardless of the scale of their actions.

"We are deeply grateful for this generous donation, enabling us to propel our mission forward in cultivating values-based leadership nationwide. With this support, we can expand our programs and empower leaders to make a positive impact in their communities," said Thomas J. Mundell, president and CEO, National Medal of Honor Center for Leadership.

Veterans Help Group (www.veteranshelpgroup.com) is a national advocacy business that focuses exclusively on getting veterans and their families the disability benefits they deserve.

The group serves across all 50 States and is actively involved in partnering and supporting nonprofits that empower veterans.

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