MUSC Breaks Ground on College of Medicine Building 

Governor Requests Major Disaster Declaration Following Severe November Flooding

Gov. Henry McMaster on Dec. 13, 2024, requested a Major Presidential Disaster Declaration to assist state and local recovery efforts following severe storms and heavy rainfall that caused significant flooding across portions of the Midlands and Lowcountry from Nov. 6 to Nov. 14, 2024.

The request follows extensive damage assessments conducted by the Federal Emergency Management Agency (FEMA) and state and local emergency management teams, which determined that more than 100 homes were damaged and that public agency costs related to infrastructure damage are projected to exceed $11 million. 

The President's Disaster Declaration, if approved, would provide FEMA Individual Assistance Program assistance to impacted residents in Bamberg and Orangeburg counties.

The Individual Assistance Program would provide direct financial assistance to residents who incurred uninsured damages to their property as a result of the storm.

FEMA Individual Assistance may also provide for other needs on a case-by-case basis.

The request also includes all categories of the FEMA Public Assistance Program for Bamberg, Calhoun, and Orangeburg counties. 

The Public Assistance Program reimburses state and affected local government applicants for the unexpected, extraordinary costs of recovering from a major disaster.

FEMA pays 75 percent of this aid, and the division of the remaining 25 percent will be determined at a later date. 

The governor's request also includes FEMA Hazard Mitigation Program grants to help lessen the impact of future disasters.

Greenville Chamber Releases 2025 Public Policy Agenda

The Greenville Chamber released its 2025 policy agenda on Friday, Dec. 13, 2024. 

The agenda outlines the priorities of the Greenville business community for Greenville County and South Carolina.

According to Greenville Chamber President/CEO, Carlos Phillips, “The Greenville Chamber’s 2025 Public Policy Agenda reflects our commitment to advancing bold, pragmatic policies that empower businesses to drive growth, create opportunities for all, and strengthen our region’s economy.”

The Greenville Chamber's 2025 agenda prioritizes improving the business climate, advocating for small businesses, and advancing economic development.

The Greenville Chamber is calling on the General Assembly to reinstate joint and several liability protections (liquor liability) to improve fairness in allocating fault impacting both the cost of doing business and the state’s insurance climate.

Other priorities include accessibility and affordability of quality childcare, enhancing career readiness, and advocating for investments in infrastructure such as transportation, broadband and housing.

There are several 2025 items that reflect evergreen priorities including the state’s unfunded pension liability, tax reform, sustainable land use, veterans' support, hate crime penalties, and police training enhancements.

The Chamber’s top local agenda items in 2025 center around preparing the community for Greenville’s rapid population growth with a quarter of a million more residents projected to live in Greenville County over the next 20 years. 

The agenda was unveiled at the Chamber’s Annual Legislative Breakfast, the Chamber’s flagship legislative event before more than 300 local business and political leaders.

The agenda outlines the shared priorities of thousands of founders, entrepreneurs and employers from the business community in Greenville County and across the Upstate, in conjunction with 13 chamber partners from the Upstate Chamber Coalition.

A fall survey followed agenda-setting meetings with business industry groups, other Upstate chambers and business organizations, and the Chamber’s Business Advocacy committee.

To view the full 2025 Public Policy Agenda and Advocacy Guide, go to www.greenvillechamber.org/policyagenda.

Farmland Partners Declares $1.15 per Share Special Dividend After Strong Year

Farmland Partners Inc. (NYSE: FPI) announced that its Board of Directors has declared a one-time dividend of $1.15 per share of common stock and Class A Common OP Unit, payable in cash on Jan. 8, 2025, to shareholders of record on Dec. 23, 2024.

The announcement comes at the end of a year that saw the company sell farmland and related assets for consideration totaling approximately $308 million, generating a total gain for FPI of approximately $51 million, or approximately 20 percent over the aggregate net book value.

“This year has been good for FPI,” Luca Fabbri, FPI’s president and CEO, said in a statement. “The Company achieved sizeable profits on dispositions, trimmed operational expenses, reduced debt exposure, and increased rental rates on the farmland still within its portfolio – which is some of the best farmland in the world."

Fabbri added, “This special dividend gives us an opportunity to share these successes in a meaningful way with our shareholders, further demonstrating the strength of farmland as an investment class and its historically consistent appreciation.”

The special dividend is required for FPI to remain in compliance with U.S. federal income tax rules for real estate investment trusts (“REITs”).

The amount of the special dividend has been calculated based on estimates of operating performance for the year ending Dec. 31, 2024, sales expected to be completed by year end, and book-to-tax adjustments.

The special dividend is in addition to the quarterly dividend of $0.06 per share of common stock and Class A Common OP Unit that FPI declared on Oct. 29, 2024.

Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire North American farmland and makes loans to farmers secured by farm real estate.

As of Dec. 13, 2024, the company owned and/or managed approximately 136,000 acres of farmland in 15 states, including Arkansas, California, Colorado, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Nebraska, North Carolina, Ohio, South Carolina, and Texas.

The company elected to be taxed as a real estate investment trust for U.S. federal income tax purposes beginning with the taxable year ended Dec. 31, 2014.

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