Hydrogen

FuelCellSouth 2005, the Southeastern fuel cell technology conference and exhibit is at the SC State Museum, May 10–11. Online registration is available at www.fuelcellsouth.com.

CAP–SC closes on first deal

Columbia Angel Partners (CAP–SC) partnered with Charlotte Angel Partners, Charleston Angel Partners, and First Rye Investments to raise $800,000+ for NuTech. NuTech, based in Charlotte, creates decision management software and is run by Columbia native Tom Wilson. Individual investors contributed another $400,000 for a total round exceeding $1.2 million.

Start–up business advice

The SC Women’s Business Center, 817 Calhoun Street, is holding a workshop to train entrepreneurs on how to put together a business plan and take the first steps to start a business. The workshop is scheduled for Tuesday, May 10, 2 pm–3:30 pm at SCWBC’s offices on Calhoun Street. The cost is $20 per person. Pre–register by calling 461-8900.

Business leadership dinner

USC’s Moore School of Business honors five people this Saturday, April 29, beginning at 6:30 pm at Williams–Brice Stadium. The business leaders to be honored are Michelle Childs (chairwoman of the SC Workers’ Compensation Commission), Luis Deza (COO of Nextel del Peru), Jose Mora (international vice president of Johnson & Johnson), Olin Pugh (distinguished professor emeritus), and William Timmerman (CEO of SCANA). Tickets are $45 per person. Call 777-2910 or go to www.mooreschool.sc.edu.

Truck assembly

DaimlerChrysler could add production to its truck plant in Gaffney. The expansion might come in more volume for the Sprinter van, a vehicle intended for assembly near Savannah. Daimler, however, announced recently it was no longer interested in the Georgia site where it planned to invest $745 million.

Automobile assembly

The Sage Mill Industrial Park near Aiken is being considered by a major foreign automobile company for a new plant according to Southern Business and Development magazine.

Wetlands can cost

The Mungo Company failed to get required permits, and it disturbed wetlands according to the Army Corps of Engineers. Mungo must pay more than $550,000 to meet the demands of the Corps.

Southern comfort in population

According to the US Census Bureau, nearly 40% of Americans will live in the South by 2030. Out of a US population of more than 363 million projected for then, the South should have at least 143 million. Currently, the US population is approaching 300 million.

American discomfort in population

Also, by 2030, 87 million Americans will be over 64 years old. Today, there are just 35 million over 64. This has major implications for Social Security which today has three workers for every retiree. In the 1950s, there were 17 workers per retiree. By 2030, the projection is two workers per retiree.

Comparisons in health care costs

In 2002, the US spent $5,267 per capita on health care. Canada spent $2,931; France, $2,736. The Canadians spend 17 cents of every health care dollar on administrative costs. We spend 31 cents.

US home and apartment construction

Suffering the biggest decline in 14 years, US construction of new homes and apartments fell by almost 18% in March. The US Department of Commerce reported an annual rate of 1.84 million new units in March, which came down from 2.23 million in February.

Meters made money

In the City of Columbia last year, 4,374 parking meters generated $1,469420 in revenue. Parking tickets came to $1,476,575.

Columbia Housing Authority

owes developer $1.7 million

Cornerstone Housing of Maryland worked with the Columbia Housing Authority (CHA) on the Celia Saxon redevelopment project. They drafted the authority’s successful federal grant application for $25.8 million in HOPE VI funds. The CHA fired Cornerstone, and Cornerstone sued. An arbitration panel ruled last week Cornerstone was due $1.7 million. City council member Daniel Rickenmann is calling for an investigation.

SC and local unemployment rates

SC unemployment dropped in March to 6.8% from 7.1% in February. In Columbia, the March unemployment rate was 6.2%, a drop from 6.9% in February. Greenville County had the lowest county unemployment rate at 4.6%, and Marion County had the highest at 13%, which was a drop from February’s 15.5%. Richland County had 6.4% for the same period, and Lexington County had 5.4%.

Nucor wants cheaper electricity,

like all manufacturers and residents

Nucor Corporation, one of the nations largest steel makers, is asking Santee Cooper for cheaper electricity. Not likely to move, the Nucor plant in Berkeley County is not expanding, citing high electricity rates as an impediment. In late February, Nucor cut production at their Berkeley plant by 14%. About 850 people work for Nucor in Berkeley. Overall, Nucor is financially sound, selling $3.32 billion in steel for the first three months of 2005. But Berkeley County failed to snare Nucor’s planned $170 million plant because of the cost of electricity. Nucor pays Santee Cooper .0384 cents per kilowatt hour, while they pay .0243 cents in Indiana. In Columbia, a typical residential charge from SCANA is .0849 cents per kilowatt hour.

China still sizzles

China’s economic growth for the first quarter in 2005 came in at 9.5%, driven by a soaring trade surplus. About one–third of China’s exports come to the US.