Foreclosures

About one in every 700 South Carolina housing units received a foreclosure filing in 2009, the 26th highest foreclosure rate in the country. The S.C. State Housing finance and Development Authority announced last Friday it has been awarded $1,968,818 to support the state’s foreclosure prevention counseling efforts. Statewide, foreclosures were up almost 34 percent in the first quarter of 2010 compared to the same time period last year.

Columbia College

Federal stimulus funds of $193,530 have been provided to install solar thermal water heating on student dormitories at Columbia College.

Cooking oil

Midlands Biofuels in downtown Winnsboro is converting used cooking oils into a new version of diesel fuel that burns 80 percent cleaner than traditional diesel.

GE Aviation

The grand opening of GE Aviation’s airfoils factory in Greenville was on Monday, April 19. GE plans to add 100 jobs and invest $30 million by 2013. GE has already invested $30 million in the 150,000 sq. ft. plant. The facility cranks out high–pressure turbine blades used in commercial aircraft engines also produced by GE Aviation.

Grants

U.S. Sen. Lindsay Graham recently announced more than $6.4 million in grants for Clemson University ($1.9 million), Coastal Carolina University ($150,000), College of Charleston ($200,000), Medical University of South Carolina ($3 million), and University of South Carolina Research Foundation ($1.3 million). Awarded by the National Science Foundation, the Department of Health and Human Services, and the Department of Education, the grants will be used for scientific research.

South Carolina’s jobless

The state’s unemployment rate fell for the second month in a row. In February it was 12.4 percent, and for March it dropped to 12.2 percent, according to the S.C. Employment Security Commission. Marion County has the highest unemployment rate at 20.7 percent, but it was 22.7 percent in February. Richland County’s unemployment rate is 9.9 percent, down from 10.3 percent in February.

Charleston incubator

Spark Charleston, a group of entrepreneurs and professionals, is unveiling its space at 480 East Bay Street within the month to begin operations on June 1. Spark will provide desk space, basic office functions, and general support for as many as 16 people who represent high–potential start–ups. Companies will be given six months of free occupancy, and then they must move out. At the end of six months, Spark will introduce the start–ups to the public and potential investors.

City budget

Columbia Mayor Bob Coble is happy to identify with the current city budget. Expenses are $5.5 million under budget. By June 30, the end of the current fiscal year, the city’s reserves will be about $11.5 million.

State budget

S.C. lawmakers have to cut the current year’s budget by about another $60 million. The lawmakers were told they had $59.8 million more to spend than was the available amount. Comptroller General Richard Eckstrom discovered the shortage during his monthly balancing of the state books. In a few months, Eckstrom expects a new state accounting system.

Petraeus inducted into Citadel’s Business School Hall of Fame

U.S. General David Petraeus, former commanding general of the multinational force in Iraq, spoke at The Citadel, April 15. A West Point graduate, Petraeus was inducted into the Hall of Fame in the School of Business Administration at The Citadel. Three other business leaders were also inducted with Petraeus: James Kerr, chairman and owner of Asset Management and Consulting Services; Travis Rockey, president and CEO of Evening Post Publishing Co.; and Joseph Salley, president and CEO of Milliken & Co.

Three top $1 million

By mid–April, three Republican candidates for governor had more than $1 million each in the bank. U.S. Rep. Gresham Barrett, S.C. Attorney General Henry Dargan McMaster, and S.C. Lt. Gov. Andre Bauer each reported having about $1.5 million in their campaign war chests. The primary is on June 8. S.C. State Sen. Vincent Sheheen is the Democrats’ front fundraiser with about $800,000 on hand. Total collections for Barrett come to $2.47 million; for McMaster, $1.9 million; and for Bauer, $1.56 million.