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Greenville Business Magazine

The Business Narrative: School Funding

Sep 12, 2022 03:27PM ● By David Dykes

State Education Superintendent Announces $52 Million in Infrastructure Funding for Hampton County School District

Pictured: S.C. Rep. Shedron Williams, State Superintendent of Education Molly Spearman, Hampton County School District Chair Hannah Priester, and Hampton County School District Superintendent Dr. Ronald Wilcox. 

State Superintendent of Education Molly Spearman announced the allocation of $52 million in state funding to Hampton County School District to assist in the renovation and replacement of antiquated existing school facilities with safe, modern facilities to accommodate current and future county enrollment trends.

The funding is part of the $140 million under Proviso 1.92 of the General Appropriations Bill for Fiscal Year 2022-2023.

In April of 2022, the SCDE commissioned independent facility studies of schools in the state’s poorest counties to aid in decision making for capital funding appropriated by the General Assembly for disadvantaged schools. 

Hampton County is composed of 10 separate schools and a career and technology center. Current enrollment of the county-wide district is approximately 2,455 students.

The funding being provided by the SCDE will be used to address the district’s most critical need as identified by the facility assessment team - the replacement of Wade Hampton High School. 

In addition to the funding for Hampton County, the agency has also made the following funding announcements:

$38 Million in Infrastructure Funding for Abbeville County School District.

$38 Million in Infrastructure Funding, $3 Million in Consolidation Funds for Clarendon County Schools.

$38 Million in Infrastructure Funding for Lee County School District.

$38 Million in Infrastructure Funding for Saluda County School District.

$15 Million in Infrastructure Funding for Dillon County Schools.

“The South Carolina Department of Education is thrilled to announce $52 million in state funding for the replacement of Wade Hampton High School,” Spearman said.

“It is crucial that the state provides financial support for counties like Hampton that cannot afford to build new facilities on its own. Thank you to the South Carolina General Assembly for their generous support in making this funding possible.”

“A resounding thank you to Superintendent Spearman and our legislators at the South Carolina State House and Senate for their support and making this funding available,” said Dr. Ron Wilcox, superintendent of Hampton County School Distric.

“Our students and educators deserve safe, state of the art facilities to learn and grow in each day. Next year, the district will combine Estill High School and Wade Hampton High School into the consolidated Hampton County High School.

"We cannot wait for the building process to begin as we anticipate with excitement opening the doors of the new high school for all of our students in Hampton County.”

Hub International Strengthens Commercial, Personal Insurance Capabilities with Acquisition

Hub International Limited, a leading global insurance brokerage and financial services firm, said it has acquired the assets of Tilghman Insurance of Myrtle Beach, LLC. 

Terms weren’t disclosed. 

 Headquartered in Myrtle Beach, S.C., Tilghman Insurance of Myrtle Beach has been providing commercial and personal insurance solutions to the heart of the Grand Strand for more than 10 years.

Jeff Brice, principal, and the Tilghman Insurance of Myrtle Beach team will join Hub Carolinas. 

“We are thrilled that Tilghman Insurance of Myrtle Beach has joined Hub and our Carolinas region, especially because of their experienced and professional staff,” said Tommy Suggs, president of Hub Carolinas. “Myrtle Beach is very important to Hub and becomes even more strategic and important now.”

“Hub may be large and has tremendous resources, but they also are local and care about their employees, clients and communities. We made a good choice,” said Brice. 

Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services.

It has more than 14,000 employees in offices located throughout North America.

FDIC-Insured Institutions Reported Net Income of $64.4 Billion in Second Quarter 2022

Reports from 4,771 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reflect aggregate net income of $64.4 billion in second quarter 2022, a decline of $6.0 billion (8.5 percent) from a year ago.

That and other financial results for second quarter 2022 are included in the FDIC’s latest Quarterly Banking Profile.

FDIC officials said quarterly net income totaled $64.4 billion, a decline of $6.0 billion (8.5 percent) from the same quarter a year ago, primarily due to an increase in provision expense.

Provision expense increased $21.9 billion from the year-ago quarter, from negative $10.8 billion in second quarter 2021 to positive $11.1 billion this quarter. More than half of all banks (51.5 percent) reported an annual decline in quarterly net income.

However, net income rose $4.6 billion (7.8 percent) from first quarter 2022 as growth in net interest income exceeded growth in provision expense.

Community banks reported a decline in net income of $523.0 million (6.5 percent) from the year-ago quarter, resulting from higher noninterest expense, lower noninterest income, losses on the sale of securities, and higher provisions for credit losses, FDIC officials said. 

Most of the 4,333 FDIC-insured community banks (52.0 percent) reported lower quarterly net income compared with the year-ago quarter. Net income, however, increased $583.6 million (8.4 percent) from first quarter 2022. 

National Hunting, Fishing Day Turns 50, Celebrates With Sept. 24 Event

National Hunting and Fishing Day celebrates its 50th anniversary this year.

To mark the occasion in South Carolina, Oconee County’s South Cove County Park will host a free, family event from 9 a.m. to 3 p.m. on Saturday, Sept. 24. The free family adventure is open to the public and all gear is provided.

“National Hunting and Fishing Day recognizes generations of sportsmen and sportswomen for their contributions to the conservation of our nation’s rich sporting traditions and natural resources,” said Angela Viney of Spartanburg, chairperson of the event.

“One of the main goals of National Hunting and Fishing Day is to introduce young and old alike to the many activities available to them in the great outdoors. The hope is that with this introduction new hunters and anglers will be ‘caught’ by encouraging participation and increasing public awareness of the connection between hunting, angling, and conservation.

"Through self-imposed fees and excise taxes, sportsmen and sportswomen have raised more than $57 billion--that’s more than $100,000 every 30 minutes--for conservation.”

The National Hunting and Fishing Day Sept. 24 at South Cove County Park is made possible by partnerships with the S.C. Department of Natural Resources (SCDNR), Oconee County Parks and Recreation, Trout Unlimited, Clemson University Cooperative Extension Service, South Carolina 4-H Shooting Sports, and Harry Hampton Memorial Wildlife Fund.

For directions and information, call South Cove County Park at (864) 882-5250 or go to its Facebook page at:

The 14th Upstate celebration of National Hunting and Fishing Day will include activities such as archery, air rifles, camouflage games, fly tying and casting, kayaking, fishing on Lake Keowee, and much more.

In addition to the hands-on events, more than 20 conservation and natural resource organizations will be onsite to share their missions and work in various environmental fields.

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