Carolinas Business Activity, Employment Index Rose in February

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Business activity in the Carolinas improved in February, according to the most recent survey from the Federal Reserve Bank of Richmond.

The general business conditions index rose from -4 in January to 9 in February, while the corresponding expectations index fell but remained comfortably in positive territory.

The sales index rose notably from -12 in January to 10 in February. Its corresponding expectations index was relatively unchanged and remained firmly in positive territory.

The employment index increased from -1 in January to 10 in February while the wages index edged up to 27 from 25. Most firms expected to increase wages over the near-term, as the forward-looking wages index remained firmly in positive territory.

Firms reported little change in their ability to find workers with the desired skills and anticipated little change over the next six months.

Average year-over-year growth in prices paid decreased notably, while average growth in prices received decreased slightly in February. Firms expected little change in price growth in the next year.

ReWa CEO Joel H. Jones Announces Retirement Plans

Renewable Water Resources (ReWa) Chief Executive Officer Joel H. Jones has announced his plans to retire from his position on April 30, and the utility’s board has named Chief Operating Officer Rebecca West its next CEO.

Jones began his water industry career at ReWa in 1993 and has served as CEO since 2022.

“Joel has given much of his career to ReWa, and he has made contributions and decisions that have benefitted countless people across our region,” said Emily DeRoberts, chair of the ReWa Board of Commissioners.

“He has not only demonstrated a passion for the water industry, environment and the Upstate community, but he has also ensured that ReWa does its part to support employees in becoming the best versions of themselves, not just for ReWa, but for our larger community and their families.”

Under Jones’ leadership, ReWa embraced a culture of continuous improvement to empower employees and create processes that have improved safety, resiliency and efficiency.

Jones began his career at ReWa as a night-shift operator trainee after graduating from Clemson University. He served in various capacities at ReWa before accepting a position at Spartanburg Water as reclaimed water operations manager in 2002.

In 2012, he returned to ReWa and served in many key roles, including chief technical officer and chief operating officer, before being named CEO.

West also began her career at ReWa. She has more than 35 years of water industry experience on the international, national, state, regional, and local levels. She served as chief operating officer at Greenville Water and Spartanburg Water before eventually returning to ReWa in 2023.

Export Sales for South Carolina Topped $38 Billion Last Year

Gov. Henry McMaster, the South Carolina Department of Commerce (S.C. Commerce), and South Carolina Ports (SC Ports) announced earlier this week that the state’s 2024 export sales totaled $38 billion, the highest volume since 2019, according to the U.S. Department of Commerce.

The automotive industry led South Carolina’s exported goods, with sales more than double that of the next largest industry type (aircraft and aerospace components). The state is the nation’s top exporter of both completed passenger vehicles and tires, and is also No. 2 in the export of ball/roller bearings.

South Carolina’s top five exported commodities in 2024, by percentage share, were:

1. Completed passenger vehicles
2. Aircraft and parts
3. Machinery and parts (turbojets, turbopropellers, gas turbines, ball and roller bearings, appliances for boilers and pumps)
4. Plastics
5. Rubber (tires)

“South Carolina's business community and workforce continue to produce top-quality products, and the world has taken notice,” McMaster said.

“As the national leader in export sales of passenger vehicles and tires, we are further strengthening our reputation as one of the best states in the country to do business, which will help attract even more capital investment and opportunities for our people.”

Poll of IT Leaders Finds that 84 Percent Trust AI Agents Equally or More Than Humans

SnapLogic, the leader in generative integration, recently announced the findings of its “AI Agents: The Final Frontier of the Enterprise” report, offering insight into the readiness of IT infrastructures for successful implementation of AI agents.

Polling over 1,000 IT decision-makers across the United States, United Kingdom, Germany, and Australia, the report analyzes the investment, readiness, and adoption of AI agents to streamline IT and business processes.

Enterprises have already recognized the immense business value of GenAI, delivering tangible business benefits by improving employee productivity and optimizing processes across departments.

Having emerged as the next evolution of AI, organizations are racing to implement AI agents to streamline processes even further while IT leaders increasingly place their trust in the technology to drive business outcomes, as evidenced by:

• 40 percent trust AI agents more than a human to do an effective job.
• 44 percent trust AI agents the same as a human to do an effective job.
• IT teams currently spend an average of 16 hours/week building, deploying, integrating, or fixing AI technologies.
• Respondents expect AI agents to save an average of 19 hours/week.

Despite 90 percent of respondents reporting they have already effectively leveraged generative AI (GenAI), only 50 percent are currently using or planning to implement AI agents, pointing to key barriers preventing deployment, including:

• 60 percent report data security and privacy concerns.
• 46 percent report legacy technology and lack of integration.
• 29 percent report lack of employee understanding.
• 14 percent report fear of AI hallucinations.

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