It’s been a busy and rewarding few days at SCMC as we hosted the 41st Annual South Carolina Business Week at the University of South Carolina’s Darla Moore School of Business.
More than 90 students from across the state spent six days developing leadership, teamwork, and entrepreneurship skills while learning alongside the state’s business community. During Thursday night’s annual banquet, we were proud to award six scholarships totaling $22,500 to recognize students who demonstrated exceptional leadership and achievement throughout the program.
Also this week, SCMC joined the U.S. Chamber of Commerce and more than 300 business organizations in urging Congress to pass a long-term reauthorization of the Export-Import Bank of the United States. A strong EXIM Bank helps American businesses compete globally, strengthen supply chains, and support jobs here at home.
There’s plenty more happening across SCMC, and we’re excited to keep the momentum going!
In This Issue
Four on Friday
1. Legislative Update – Budget Deal Reached
Late Wednesday evening, members of the budget conference committee struck a compromise agreement on the state’s over $15 billion spending plan for FY2026-27. For weeks, House and Senate conferees had been working diligently to iron out differences between their two versions of the budget, with main points of contention centering around how much to spend on community projects and how much property tax relief to offer seniors. Click here to read the full legislative update.
2. Request for Photos & Video of Senator Lindsey Graham
SCMC is collecting photos and b-roll for a tribute video to be shown at Washington Night honoring the life and legacy of Senator Lindsey Graham. If your company has photos or video of Senator Graham touring your facility, meeting with employees, speaking at an event, or visiting your operations, please share them with Lee Middeke at Lee.Middeke@myscmc.org by Monday, July 27.
3. Compensation & Benefits Survey Deadline Extended to August 7
Thank you to everyone who has already participated in the Compensation & Benefits Survey! For those who have not yet had the opportunity, the deadline has been extended to August 7. The survey collects confidential data on compensation, benefits, pay ranges, incentives, and more across approximately 102 manufacturing positions, providing valuable benchmarking data for participating companies. As an added benefit, participants receive the full survey results at no cost. If you have not received your survey link, contact Hannah Wohlman at wohlman@newportgroup.com.
4. Congratulations to Our SCMC Membership Survey Winners
Thank you to everyone who took the time to complete the 2026 SCMC Membership Survey. Your feedback will help shape our priorities, strengthen our programs and services, and ensure we’re delivering the greatest value to our members. Congratulations to our five goodr sunglasses winners: Corrie Raiford of Elkem, Jason Meredith of Caterpillar, Karen Crawford of KLAC Law Firm, Hal Stevenson of Grace Outdoor Advertising, and Jim Tunison of the Aiken Chamber. Our team will contact each winner directly with details on how to claim their prize.
Upcoming Events
SC Energy Summit | Aug. 4, 2026
Washington Night | Aug. 19, 2026
SC Workforce and Manufacturing Summit | Aug. 31-Sept. 2, 2026
2026 SCMC Annual Meeting | Nov. 10-12, 2026
Legislative Update – Budget Deal Reached
Late Wednesday evening, members of the budget conference committee struck a compromise agreement on the state’s over $15 billion spending plan for FY2026-27. For weeks, House and Senate conferees had been working diligently to iron out differences between their two versions of the budget, with main points of contention centering around how much to spend on community projects and how much property tax relief to offer seniors.
The compromise agreement increases the homestead exemption for homeowners aged 65 years or older from $50,000 to $75,000 and sets aside roughly $380 million in one-time money for community projects. A separate legislative panel will be established to review all of the community projects included in the House and Senate versions (roughly $430 million) and produce recommendations for a separate bill to be voted on by the General Assembly later this year.
Notable items in the budget include:
- $309 million to reduce the state income tax from 6% to 5.21%, as prescribed by the Income Tax Reform bill (H.4216/Act 110) that was signed into law by Governor Henry McMaster.
- $190 million to the Department of Transportation (DOT) for bridge repairs.
- $175 million to the County Transportation Committees (CTCs) for road work.
- $112 million to increase teacher pay and raise the minimum starting salary to $50,500.
- $95 million in technical college scholarships for critical-needs jobs via SCWINS.
- $75 million to the Department of Education (DOE) for construction projects for rural K-12 public schools.
- $60 million for statewide airport infrastructure improvements.
- $15 million for readySC.
- $12.5 million to DOT for a road buyback program to transfer state roads to county control.
- $11 million for statewide water and sewer projects.
- $2.5 million to the Department of Environmental Services (DES) to develop an artificial intelligence (AI) pilot program to make environmental permitting more efficient.
- $1.5 million for the Manufacturing Extension Partnership (MEP).
A proviso suspending the mandatory minimum liquor liability insurance coverage requirement for bars and restaurants was stripped out of the compromise version, while a proviso requiring data centers to report monthly volume of surface, ground or other water used in the previous calendar year and its anticipated water use was included.
The General Assembly will return in the coming weeks to vote on the compromise spending plan. The state has been operating under a continuing resolution since July 1.
Member Spotlight
Sonoco’s Howard Coker Named 2026 Fastmarkets Forest Products North American CEO of the Year
This week, Fastmarkets announced that Howard Coker, President and CEO of Sonoco Products, has been named the 2026 Fastmarkets Forest Products North American CEO of the Year. Read more.
