UPDATE ON THE BENEFIT BANK IN SOUTH CAROLINA

August 2, 2010

Since the Palmetto Institute led efforts to bring The Benefit Bank program into the Palmetto State, our citizens have captured more than $2 million in state and federal work supports. As of August 2, 2010, 164 sites in 33 counties with over 500 trained counselors have helped more than 850 South Carolina citizens file over 950 applications, including completion of FAFSA forms for college.

The Benefit Bank recently went "live" in Florence County at the Lake City Library, the first site launched within the Pee Dee region. 

The Benefit Bank is a free, web-based service that simplifies and centralizes the process of applying for state and federal benefits for low- and moderate-income individuals and families, and has the potential to keep millions, even billions, of dollars in public funds in the State instead of remaining unclaimed.  Trained counselors help individuals and families file federal and state taxes and determine their eligibility for federal tax credits, food stamps, and medical benefits.  The BlueCross BlueShield of South Carolina Foundation and the South Carolina Office of Rural Health, along with other willing partners, have been essential in bringing the Benefit Bank to South Carolina.  

For more information, please visit http://www.thebenefitbank.com/SouthCarolina or contact Sue-Ann Gerald Shannon, Director of Research at the Palmetto Institute, at sshannon@palmettoinstitute.org.

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"South Carolina Can Spur Economic Development through Growing Its Agribusiness Assets"

December 10, 2009

CONTACT:  Sue-Ann Gerald Shannon, Director of Research, Palmetto Institute              Email:        sshannon@palmettoinstitute.org                                                                           Website:    http://www.palmettoinstitute.org

Link to the Agribusiness "Topline" Report

When we undertook a comprehensive study of South Carolina's agribusiness sector two years ago, we knew agribusiness -- food, forestry, and processing  -- was a major economic driver in our State's economy.  Our research has confirmed that agribusiness represents more than $30 billion in economic impact on the State and is tied to nearly 200,000 jobs.

The Palmetto Institutes appreciates the substantial assistance provided by stakeholders within the industry, including educators, associations, foresters, farmers, producers, processers, elected officials, government representatives, nonprofits, and many others.  Moreover, we would like to particularly acknowledge the invaluable support contributed by the following partners:

Chernoff Newman	Central Electric Cooperative
Clemson University	dmrkynetic
Electric Cooperatives of South Carolina	MarketSearch
RBC Insurance	SCANA
SCLaunch! U.S.	Department of Agriculture

Although our research findings were many, as we look ahead, we are focusing on 3 areas to be addressed immediately:

1. Awareness. The agribusiness cluster needs an organized campaign to inform both the policymakers and general public of the existing economic strength of agribusiness in South Carolina and its potential to grow even stronger given the appropriate support.  Basically, the point must be made that agribusiness is one of the top economic engines in the State and should be treated equal to other economic engines (such as tourism and manufacturing) with respect to incentives and economic development efforts.
2. Lead Entity. An "umbrella" group needs to be identified or created to oversee and support the various agribusiness sectors in South Carolina.  Creation of this group should not be a consolidation of existing public entities such as Departments of Agriculture or Commerce, but instead a public/private entity that collaborates with existing entities to speak for and strengthen the position of agribusiness.  This organization must also be able to assist those working in the areas of farming, food, and forestry on such issues as: Collaboration with Clemson, USDA, and other research entities; Consolidation of buying power; Broader distribution support; and Assistance with insurance and safety requirements, marketing, tax and labor issues, and research and development.
3. Marketing. The existing branding and marketing program by the Department of Agriculture has been well received and should be supported and expanded.

We urge you to review the attached report and to join with us in promoting and advancing our tremendous agribusiness economy.

More Economic Development News

Viability of a Universal Pre-Kindergarten Program in South Carolina

"We can't afford not to." In response to the need for preschool education, this declaration was recently uttered by James Heckman, a Nobel Prize winner in economics and a pioneer in the study of human capital. He noted that 20% of U.S. workers are "functionally illiterate and innumerate," which will eventually cause wages and productivity to decrease by half or more over the next 20 years if we fail to make investments now in our preschool-age children.

The positive outcomes produced by existing pre-kindergarten programs are nearly incontrovertible and continue beyond childhood, contributing to reduced incidences of crime and to higher levels of achievement, grade retention, wages, productivity and, ultimately, competitiveness. Notably, nearly everyone agrees, including once-skeptical critics, academics, conservatives, liberals, law enforcement groups, and market economists.

Recognition of the benefits of pre-K has gained momentum as more states have moved to implementing new programs or expanding existing ones. In 1980, only 10 states had programs; today, more than 38 have developed statewide programs. It is estimated that for every $1 dollar a state spends, it receives $8-$17 in future returns. Although South Carolina already has several existing four-year-old programs, they target mostly disadvantaged and at-risk children, neglecting many other children living within the State.

Follow the link to a discussion paper outlining the State's existing programs and current spending levels, along with issues relating to fiscal concerns and other hurdles in providing pre-kindergarten access to all of South Carolina's four-year-olds.

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28th Annual Economic Outlook Conference - December 3, 2008

Marriott Columbia City Center
1200 Hampton Street
Columbia, SC

Luncheon speaker:
Daniel H. Stern, founder and co-CEO of Reservoir Capital Group in New York City, who will speak about the "Current Status of the Financial Markets"

Click here to register

 

USC's 27^th Annual Economic Outlook Conference

 

Potential recession and sound tax policy are among the topics to be addressed by economists at the Moore School of Business' 27^th annual Economic Outlook Conference, to be held Monday, Dec. 3, at The Marriott in downtown Columbia.

The conference runs from 9:30 a.m. to 2 p.m., with an optional, complimentary networking breakfast that begins at 8:30 a.m. Registration is $75 per person, which includes lunch, where Dr. William F. Fox, director of the Center for Business and Economic Research, University of Tennessee, will deliver the conference's keynote address. Fox will discuss "Sound Tax Policy for a Competitive Economy."

The Economic Outlook Conference has become the state's premiere economic and networking event for business leaders and is co-sponsored by The Palmetto Institute.

The morning session will feature Moore School faculty members who will discuss the topic: "Will the Economic Expansion Continue in 2008, or Are We Headed for a Recession? Implications – from Local to Global."

Research Economist Dr. Paulo Guimarães from the Moore School will give the economic forecast for South Carolina. Dr. Douglas P. Woodward, professor of economics and director of the Division of Research at the Moore School, will give the economic forecast "from local to global" – including new economic indicators for South Carolina localities, plus the forecast for the United States and the global implications of that forecast.

Dr. Alvaro Cuervo-Cazurra, assistant professor of international business at the Moore School, will discuss "Carolina and the Celtic Tiger: What We Can Learn from Ireland's Development."

Fox is the William B. Stokely Distinguished Professor of Business and the director of the Center for Business and Economic Research at the University of Tennessee, where he has taught economics since 1992. He has served as a consultant on finance, taxation, and economic development in a number of states and countries, and is a member of the American Economics Association and a past president of the National Tax Association.

Advance registration is required and can be done online at http://mooreschool.sc.edu. The deadline for registration is Monday, Nov. 26. Questions should be directed to Nancy Beym at 800-393-2362 or via e-mail at nbeym@moore.sc.edu.

 

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Emerging Markets Private Equity: Sustaining Momentum

IFC's 9th Global Private Equity Conference in association with EMPEA
May 10-11, 2007 - Washington, DC

For More Info go to:http://www.globalpeconference.com/

 

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TechConnect Summit 2007
Connecting Technology Innovators, Investors & Corporations

May 23-24 2007, Santa Clara, California
Santa Clara Convention Center
For More info go to:  www.TechConnect.org/Summit2007