Now what?

The City of Columbia is considering a $194 million tax increment finance project, $40 million in the northern sector of town, and $154 million in the Innovista. This is the same city that couldn’t account for its spending for the past four years, leaving the books in such poor shape the mayor declined to run for re–election.

And then what?

S.C. State University expected about 5,100 students this fall, keeping the school on track to hit a targeted enrollment of 6,000 by 2014. Instead, SCSU enrollment this fall is 4,545, which cuts $6 million off SCSU’s revenue. Meanwhile, across the country, a record high of 11.5 million people between 18 and 24 attended college in October 2008, which was about 40 percent of the 18-24 population. Growth rates of 10 percent and higher are common this fall, according to the American Association of Community Colleges. For about 30 years overall college attendance has been going up.

Clemson’s research park recognized

The Clemson University International Center for Automotive Research (CU–ICAR) was honored recently by the Association of University Research Parks. CU– ICAR was presented the Emerging Research/Science Park Award at the association’s annual conference in Vancouver, B.C. The 250–acre campus began in 2003, and the research park opened in 2006, so far generating more than $215 million in funding commitments.

Next time you’re in The Gourmet Shop...

...check the price of the Petrus, if they have it. About two weeks ago, one mainland Chinese oenophile paid $93,077 for a bottle of 1982 Chateau Petrus Imperial.

Newspapers

In the six months from March to September, there was a 10.62 percent decline in circulation among 379 U.S.

dailies tracked by the Audit Bureau of Circulation. USA

Today saw its weekday circulation drop 17 percent. The

Wall Street Journal showed a gain of almost 1 percent to 2 million copies, including online subscriptions. The WSJ was the only large daily to report a gain in the six months.

If Texas can...

In 2007, Texas legislators created the Cancer Prevention and Research Institute of Texas, a $3 billion investment over the next decade. The institute will use out–of–state peer review groups composed of doctors and scientists to review in–state grant applications, hopefully avoiding conflicts of interest.

Bankruptcies

U.S. business bankruptcies fell 4.5 percent to 22,710 in the third quarter from 23,782 in the second quarter, according to Automated Access to Court Records.

SCANA’s empty building

The Palmetto Center is for sale for about $37 per square foot. AIG’s former headquarters building in NYC on Pine Street, near Wall Street, recently sold for $105 per square foot. The 66–story building’s top 40 floors are reportedly being converted into residential condominiums, which the developer says he can sell for $2,000 per square foot. The Palmetto Center could possibly see some of its floors converted to condominiums, but the Main Street market price would likely hold to a little more than what is being paid at Adesso, the new condominium at the corner of Main Street and Blossom Street. At Adesso, according to The State newspaper, a one–bedroom 1,100–square–foot unit just sold for $195,000 or $177 per square foot. That probably means the Palmetto Center developers couldn’t ask for more than $200 per square foot.

Charleston chases discount airlines

Discount carrier AirTran wanted a $500,000 subsidy to stay at Charleston International Airport through January and another $2 million to stay through the next year. The airport authority refused, but Charleston has authorized an incentive package worth $150,000 to attract new airlines. What share of what risks is Columbia offering to pay to attract a low–cost carrier?

Jobless

Don Schunk, an economist at Coastal Carolina University, recently told the S.C. Board of Economic Advisors the state’s unemployment rate, presently almost 12 percent, could actually be read as 20 percent when taking into account discouraged workers who have quit looking for jobs and also considering out–of–work people, who have exhausted their unemployment benefits. And that number could rise to 24 percent, as Schunk put it, before the state’s jobless rate begins a slow decline.

Honored writer

Peggy Noonan, who writes a weekly column for the Wall

Street Journal, was a speechwriter for President Reagan

and also for President George H. W. Bush, #41. Her New

York Times bestsellers include When Character Was King:

A Story of Ronald Reagan and What I saw at the

Revolution. The Medal of Honor 2010 Convention executive committee and the Medal of Honor Society board has approved Peggy Noonan to receive the Tex McCrary “Excellence in Journalism” Award at the Patriot’s Dinner during the convention in Charleston, October 2, 2010.