Volvo Car Stadium Announces Renovations and Modernization
After 20 years of the Volvo Car Stadium hosting many memorable events on Daniel Island, Ben Navarro, owner of the Charleston Tennis LLC, the parent company of the stadium, decided it was time for the venue to get a makeover. Charleston Tennis LLC has partnered with the City of Charleston to renovate and modernize the space. The new plan will feature a multi-story "Stage House" housing player wellness facilities, media, production, and food preparation areas, and a VIP Club level that will overlook the Center Court. The new structure will provide weather protection and shade for fans and the stage. Everything has been considered, including the creation of an elevated boardwalk amongst the property's Grand Oaks that will protect the trees' root system as well as provide a sitting space for visitors. Completion is anticipated by fall 2021. Read More Here...
New Legislation To Permit More Flood Insurance Options
Living in the Lowcountry, one major type of insurance that homeowners need is flood insurance. The only option homeowners have had, however, has been the federally-backed National Flood Insurance Program (NFIP). But things are looking to change with new legislation passed in South Carolina. Ray Farmer, Director for the South Carolina Department of Insurance, says he wants to see traditional insurance companies competing with the NFIP. Insurance companies have always been able to write flood insurance but have never been able to effectively compete since the NFIP coverage has been subsidized by taxpayers. Signed in late September and scheduled to go into effect on November 28th, the South Carolina Private Flood Insurance Act allows private insurance companies to offer new and innovative flood insurance coverage that can be tailored to specific properties, as compared to the NFIP which provides one-size-fits-all coverage. Soon there will be more than just the specific set of coverages and coverage limits provided by the NFIP and clients will have more options for their specific needs. There are many niches and specific risks not being covered by the NFIP that provide private insurance companies a way to enter this market and compete. This act was made in the hopes of taking down the barriers that have stopped private insurance companies from entering this market. Read More Here...
MUSC's Annual $5.6 Billion Economic Impact on the State of South Carolina
The Medical University of South Carolina is the largest non-federal employer in Charleston and is estimated to create an annual impact on the state to the tune of $5.6 billion. A recent study conducted by USC's Darla Moore School of Business determined that MUSC and it's 17,000-plus employees create a total of 38,186 jobs, directly and indirectly. So, for every 10 jobs created or supported by MUSC, roughly 11 more jobs are created within the state. The main contributors to this huge impact are patient care, research, and MUSC's six colleges. MUSC also recently purchased four hospitals in Lancaster, Florence, Marion, and Chester that will also contribute to its overall impact. Caroline Brown, the chief of external affairs for MUSC, mentions that she hopes this study not only educates others about MUSC's overall impact but also proves the importance of the health care and life science industries. Read More Here... Read the Study Here...
Mount Pleasant Officials Approve Phase Three of Memorial Waterfront Park
Imagine driving across the Ravenel Bridge towards Mount Pleasant and looking at the beautiful scenery. As you reach the end of bridge, you look to the left and what do you see? Not a lot at the moment, right? Well, Mount Pleasant town officials have recently approved phase three of the development of that area, known as Memorial Waterfront Park. This $5.4 million phase will consist of several new amenities including a dog park, basketball and racquetball courts, a splash area, and even a track and workout area! Some of the funds will also go towards a monument for first responders. Many who have been working on this project say that they are glad this unused area will be a way for the community to come together, exercise and enjoy the fresh air. Read More Here...
Please contact us if you have any questions or comments.