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Greenville Business Magazine

The Business Narrative: Hurricane(s) on the Way?

Apr 05, 2024 10:01AM ● By Donna Walker

2024 Atlantic Hurricane Season to be ‘Very Active’

A very active tropical cyclone season is projected for 2024 in the Atlantic basin, according to a forecast released April 4, 2024, by Colorado State University’s (CSU) Department of Atmospheric Science.

 

Led by senior research scientist Phil Klotzbach, Ph.D., also a non-resident scholar at the Insurance Information Institute (Triple-I), the CSU Tropical Meteorology Project forecasts 23 named storms, 11 hurricanes and five major hurricanes during the 2024 season, which starts on June 1 and continues through Nov. 30.

 

CSU’s 2024 forecast calls for a 62 percent chance of a major hurricane making a mainland U.S. landfall (average from 1880 to 2020 is 43 percent), 34 percent for the U.S. East Coast including the Florida Peninsula (versus 21 percent historical average), and 42 percent for the Gulf Coast from the Florida Panhandle westward to Brownsville, Texas (versus 27 percent historical average).

 

typical Atlantic season has 14 named storms, seven hurricanes and three major hurricanes.

 

The 2023 season produced 20 named storms and seven hurricanes. Three reached major hurricane intensity. Major hurricanes are defined as those with wind speeds reaching Category 3, 4 or 5 on the Saffir-Simpson Hurricane Wind Scale.

 

One hurricane and two tropical storms made continental U.S. landfalls last year. Category 3 Hurricane Idalia struck Florida’s Big Bend region near Keaton Beach on Aug. 30 with wind speeds of 115 mph. 

 

It was the third hurricane, and second major hurricane, to make a Florida landfall over the past two seasons. Idalia caused storm surge inundation of 7 to 12 feet and widespread flooding in Florida and throughout the Southeast.

 

Other named storms that made U.S. landfalls in 2023 included Tropical Storm Harold, which made landfall near South Padre Island, Texas, on Aug. 22; and Tropical Storm Ophelia, which made landfall near Emerald Isle, N.C., on Sept. 23.

 

“The widespread damage incurred from Idalia last year highlighted the importance of being financially protected from catastrophic losses and that includes having adequate levels of property insurance and flood coverage," said Sean Kevelighan, CEO, Triple-I.

 

Flood policies are offered through FEMA’s National Flood Insurance Program (NFIP) and dozens of private insurers. 

 

The installation of a wind-rated garage door and storm shutters also boost a home’s resilience to a hurricane’s damaging winds, according to the Triple-I, and can potentially generate savings on a homeowner’s insurance premium.

 

Private-passenger vehicles damaged or destroyed by either wind or flooding are covered under the optional comprehensive portion of an auto insurance policy.

 

Triple-I offers numerous hurricane season preparedness tips. These include:

 

* Developing a photo/video inventory of your possessions and your home’s exterior, which will ease the claims-filing process.

* Preparing a hurricane emergency kit with a minimum two-week supply of essential items, such as drinking water, non-perishable food, medications, flashlights, and extra batteries.

* Creating an evacuation plan well before any storm warnings are issued.

Infrastructure Consulting & Engineering Announces Strategic Investment from Godspeed Capital

Columbia, South Carolina-based Infrastructure Consulting & Engineering, PLLC, a transportation consulting and engineering firm focused on the Southeastern United States, said it has received a strategic investment from Godspeed Capital Management LP, a lower middle-market defense and government services, solutions, and technology focused private equity firm.

 

Financial terms of the transaction weren’t disclosed.

 

Through the investment, Godspeed Capital will partner with ICE’s leadership to establish the company as the platform brand of a new transportation-focused engineering and consulting services and solutions provider focused on public infrastructure projects in the Southeastern U.S.

 

With decades of expertise across transportation verticals, the ICE platform will offer a full suite of transportation design, consulting, and engineering services including roadway, bridge, and structure design, construction engineering and inspection, construction/program management, surveying, civil engineering, aviation planning, foundation testing, and geotechnical, environmental, and permitting services for customers across some of the fastest-growing markets in the U.S.

 

Founded in 2013, ICE serves major state departments of transportation, counties, municipalities, and select private clients across the Southeastern U.S.

 

Over the past decade, the company has built a workforce of more than 500 professionals across 23 offices in states including North and South Carolina, Georgia, Florida, Louisiana, Texas, Virginia, and West Virginia.

 

ICE is consistently ranked among the top design firms in the U.S. and maintains a significant pipeline of contracted projects, with a record of successful projects to date including, but not limited to, the widening of Interstate 85, I-26, and I-95, the I-285 / I-20 East Interchange project, and the reconstruction of I-285 / SR 400 Interchange improvements in Atlanta, Georgia.

 

ICE’s President and Chief Executive Officer Elham Farzam, an industry veteran with more than 40 years of experience in the transportation consulting market, will continue to lead the company with his two founding partners, Peter Graf and Billy Coleman, as well as a seasoned management team.

 

Officials said ICE will work with Godspeed Capital to expand the platform’s geographic footprint and business development ambitions, forge new relationships in strategic markets, and broaden its service offerings through both an organic and inorganic acquisition growth strategy.

 

The current ICE management team will remain intact and retain a significant equity position in the platform, the officials said.

Clemson University Men of Color National Summit Marks Seventh Year

As a land-grant institution, Clemson University has a fundamental commitment to public service and community engagement.

 

Officials say its Men of Color National Summit presented by The Boeing Company honors this mission and supports the university’s key priorities by offering guidance, support, and inspiration to African America/Black and Hispanic/Latinx young men, highlighting the transformative power of higher education, and establishing a sustainable pipeline of qualified college graduates entering the workforce.

 

The Men of Color National Summit hosted by Clemson University April 11-12, 2024, at the Greenville Convention Center in Greenville, South Carolina, brings together more than 2,100 high school and college students, educators, business professionals, government officials, and community leaders from across the country for two days of inspiration, education, and empowerment.

 

Keynote speakers at this year’s sold-out conference are:

 

* Fabio Tambosi, MBA, senior vice president, Global Marketing at ESL FACEIT Group.

* Kenny Smith, NBA studio analyst for the “Inside the NBA” show on TNT.

* Calvin Mackie, Ph.D., inventor, author and engineering professor, CEO and founder of STEM NOLA.

 

“At its core, the summit seeks to illuminate pathways to higher education and career success for young men of color by emphasizing the importance of education, mentorship, and community engagement,” said Felicia Benton-Johnson, Ed.D., vice president for Diversity and Inclusive Excellence at Clemson University.

 

Officials say that through a carefully curated program featuring keynote speeches from influential leaders, interactive workshops, and networking opportunities, attendees are exposed to a wealth of resources and insights aimed at increasing high school and college graduation rates and fostering professional development.

 

Officials say the event’s schedule is designed for deeper engagement through a variety of breakout sessions, exhibitor fairs for students to learn about career paths and college majors, hands-on Clemson college showcases, and mock interviews for college students.

 

Attendees are encouraged to participate in conversations to help refine their values and perspectives surrounding themes of education, entrepreneurship, masculinity and personal identity, future pathways, and social and community engagement that helps ground their journeys into the world with value and purpose.

 

To learn more about the Clemson University Men of Color National Summit go to Clemson.edu/menofcolor.

RD1 Spirits Adds Seven States to U.S. Distribution

Award-winning, Lexington, Kentucky-based craft bourbon brand, RD1 Spirits, continues to build its national distribution footprint with expansion into seven states since January 2024 — Arizona, California, Colorado, Georgia, Minnesota, Ohio, and South Carolina.

 

The expansion follows last year’s successful growth, where RD1 grew distribution from its home state of Kentucky to 14 states in the calendar year.

 

In addition to the latest seven states, RD1 distributes to Florida, Illinois, Indiana, Iowa, Kentucky, Louisiana, Massachusetts, Michigan, Missouri, Nevada, North Carolina, Tennessee, Texas, West Virginia and Wisconsin.

 

Said Mike Tetterton, chief executive officer of RD1 Spirits: “We’re incredibly proud to introduce RD1 Kentucky Straight Bourbon and our unique wood finishings to more bourbon fans and those looking to explore something new.”

 

RD1 has earned more than 75 awards for its bourbon portfolio, which launched new packaging and expanded products in the spring of 2023.

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