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Greenville Business Magazine

The Business Narrative: 300 New Jobs

Nov 16, 2023 01:59PM ● By Donna Walker

Nissin Foods to Expand U.S. Footprint, Production With New Operations in Greenville County, SC

Nissin Foods, a global leader in producing premium, instant ramen products, announced plans to expand its U.S. footprint by establishing new operations in Greenville County, S.C., to meet what officials said is surging demand from customers.


The company’s planned $228 million investment will create over 300 new jobs, the officials said.


“Nissin Foods has seen sustained sales growth year-over-year, especially over the last five years, driven by unprecedented demand for our products,” said Nissin Foods President and CEO Michael Price.  “As we developed the company’s expansion plans, we determined early on that Greenville, South Carolina was the ideal location for our newest manufacturing facility.”


Headquartered in Tokyo, Nissin Foods was established in 1958 in Japan by Momofuku Ando, who invented the first instant ramen noodle inspired by his belief that "peace will come to the world when there is enough food."


In 1972, Nissin Foods USA opened its first plant in Gardena, Calif. 


“Greenville is among the fastest growing manufacturing cities in the country, and many other top brands are produced there,” Price said.


Price added, “In addition to being a significant milestone in Nissin’s history, this investment will allow us to optimize production capabilities, grow the organization, bring jobs to the community and continue to fortify our innovation pipeline.”


Launched in 1971 in Japan, Cup Noodles debuted in the U.S. in 1973, revolutionizing the food industry by creating a product that could package, prepare, and serve noodles all in one.


“Congratulations to Nissin Foods and Greenville County on bringing over 300 new jobs to South Carolina,” said Gov. Henry McMaster. “This collaboration provides additional opportunities for Nissin Foods to serve its worldwide customer base while contributing to the Greenville community.”


Sales increased 21 percent in the first quarter of fiscal 2023, up from the same period in 2022 and the fourth consecutive quarter of high double-digit sales growth for Nissin Foods, according to Food Business News.


With a growing brand portfolio that includes Cup Noodles, Top Ramen, Top Ramen Bowl, Cup Noodles Stir Fry, Chow Mein, Hot & Spicy Bowl and Fire Wok, officials say the company's corporate philosophy embraces a commitment to taste, convenience, and quality.


A leading provider of instant ramen noodles, the new Greenville County operation will help the company enhance continued product development and innovation while meeting surging consumer demand, the officials said.


Products to be made at the new Greenville County facility weren’t identified by company officials.


Nissin Foods USA, recently announced that Cup Noodles will introduce a new paper cup design in early 2024, replacing the current polystyrene cup.


A historic change for the brand since its 1973 U.S. introduction, the updated packaging for the on-the-go cup is now microwavable.


The company has announced plans to purchase a 640,640-square-foot building at 1170 Bracken Road in Piedmont for its new Greenville County manufacturing facility.


Nissin Foods also has existing manufacturing facilities in Lancaster, Pa., and Gardena, Calif.


Operations are expected to be online in August 2025. Those interested in joining Nissin Foods should go to the company’s careers page.


The state’s Coordinating Council for Economic Development approved job development credits related to the project.


The council also awarded a $250,000 Set-Aside grant to Greenville County to assist with the cost of building improvements.

USC School of Law named the Joseph F. Rice School of Law

The University of South Carolina’s School of Law has a new name thanks to the generosity and vision of well-known alumnus and longtime benefactor, plaintiffs’ trial lawyer Joe Rice.

The official name, the University of South Carolina Joseph F. Rice School of Law, was announced Nov. 10, 2023, during a signage unveiling ceremony at the law school building at the corner of Bull and Senate streets.

Regarded as a skillful negotiator and nationally known litigator, Rice (1976 B.S., 1979 J.D.) has played a lead role in resolving some of the nation’s largest civil actions, including some of the most significant resolutions of asbestos liabilities, the $246 billion civil settlement against the tobacco industry, two settlements regarding the BP Oil Spill and the ongoing national opioid litigation.

The $30 million investment made by Rice and his family will be used to establish an endowed student scholarship fund which will yield multiple three-year full and partial scholarships and at least four new endowed professorships.


Additionally, the allocations will create stipends for students completing a children’s law concentration, career and professional development funding for students, as well as additional training, awards and support.

“An investment of this magnitude is often described as transformative, but this word does not do justice to the far-reaching impact that Joe Rice’s gift promises for the University of South Carolina,” USC President Michael Amiridis said. “His extraordinary generosity is not only a mark of his ongoing devotion to his alma mater, but it also ensures the Law School’s ascent as home to the highest-quality legal education and establishes a stellar trajectory for USC’s future growth and national repute.”

The law school is the university’s third academic unit to be named for a donor. The Darla Moore School of Business was named for financial investor Darla Moore in 1988, and the Arnold School of Public Health was named in 2002 for business leader Norman J. Arnold.

“My alma mater is a huge part of my family’s history and success. It gives me great pride to directly impact the lives of its students. My hope is that this worthy cause will inspire and bring out the best in generations of future lawyers, while laying the foundation they’ll need to achieve great things,” Rice said.


Rice added, “I want to also challenge my legal colleagues across the country, from any law school, to repay their good fortune with dollars, time, talent or creativity to bring about more positive change.”

Rice has been a generous supporter of his alma mater for many years.


In 2013, he and the members of Motley Rice, the firm he co-founded in 2003, created the Ronald L. Motley Memorial Scholarship Fund and Civil Litigation Training Program Fund at the law school in memory and honor of its co-founding member, Ron Motley.


That fund has helped establish a capstone course in litigation skills and yielded 26 scholarships to date.

In 2021, donations by the Rice family ensured the USC Children’s Law Center would have a permanent home for its training center in a converted former church building on Pickens Street, across from the law school building.


The space provides child welfare professionals, law enforcement agencies, prosecutors and others involved in serving at risk and neglected children the opportunity to gain practical, hands-on experience with situations they will encounter in their careers.


The Rice family also supports the Garnet Way, helping create a first-class athletic campus with enhanced programs, learning environments and scholarships.

In addition to the Joseph F. Rice and Family Endowed Scholarship Fund to provide scholarships for law students, the current gift will establish the Lisa S. Rice and Ann E. Rice Ervin Child Advocacy Award Endowment for students who successfully complete the children's law concentration.


The endowment is named for Rice’s wife and daughter. Both are USC alumni. Lisa Rice earned a bachelor’s degree in 1977, and Rice Ervin earned a bachelor’s degree in 2006 and a law degree in 2009.

“This magnanimous investment by Joe Rice and his family will provide transforming resources to build on the law school’s legacy of excellence. It will give us the inspiration and the support to provide a world-class legal education for promising South Carolina students at this storied law school, strengthening our commitment to the public good,” said William Hubbard, dean of the Joseph F. Rice School of Law.


Hubbard added, “The student scholarships and the endowed professorships supported by the Rice gift will catapult our law school to the forefront of legal education in America and will propel our mission to graduate highly skilled and deeply committed lawyer-leaders for our state and nation for generations to come.”

The School of Law celebrated its 150th anniversary in 2017 with the opening of its current building bounded by Gervais, Bull, Senate and Pickens streets.


The building anchors Columbia’s legal corridor along the north edge of campus that includes the school’s Children’s Law Center, the National Advocacy Center and South Carolina’s Statehouse and Supreme Court.


Inspired by 19th-century South Carolina architect Robert Mills, the three-story complex features flexible learning spaces that serve as classrooms and courtrooms, and a two-story law library reading room that overlooks a large courtyard and patio.

One of the nation’s oldest law schools, it is home to the nation’s first voluntary Pro Bono Program.


The School of Law also created one of the nation’s first clinical programs and now offers eight in-house clinics supervised by full-time licensed attorneys where students can practice law as student attorneys representing real clients pursuing matters such as health, children’s and veterans’ law. 

Brown Family Lays Foundation For Future of Clemson University With $2.5M Academic Cornerstone Gift

Jeffrey J. “JB” Brown ’95 and Sara M. Brown ’98 are laying the foundation for the future of Clemson University through a gift of $2.5 million in support of scholarships, the Clemson Experience for students, inclusive excellence and The Wilbur O. and Ann Powers College of Business.


The gift establishes the Brown family as the latest Academic Cornerstone Partners for Clemson University. 


The Browns’ Academic Cornerstone gift is their family’s most recent contribution of their time, talent and treasure.


Says JB: “It’s our honor to be able to give back to our University that is developing the next generation of great leaders under the stewardship of President Clements and the Board of Trustees.”


Their Cornerstone gift supports the areas that the family is most passionate about, including:  


* $1 million for presidential scholarship in the Wilbur O. and Ann Powers College of Business.

* $1 million for Clemson’s new Alumni and Visitors Center.

* $250,000 for ClemsonLIFE.

* $150,000 for the Power of One campaign challenge.

* $100,000 for Inclusive Excellence.


Both Clemson graduates, JB graduated in 1995 with a degree in economics, and Sara graduated in 1998 with a degree in early childhood education. They have given financially every year since graduating, and as their resources have grown, so has their desire to give more.


“Through JB and Sara’s continued commitment to Clemson, they are positively impacting the lives of our students and are laying the foundation to support the next generation of leaders,” says James P. Clements, Clemson University president. “JB and Sara’s dedication to the Clemson Family is inspiring and I am grateful for their generosity and leadership across the university.”


Before becoming Clemson’s latest Academic Cornerstone Partners, the Brown family gave to Clemson by establishing the Brown Family Scholarship Endowment, supporting the Wilbur O. and Ann Powers College of Business as well as the Provost’s Excellence Fund and several other scholarship endowments. 


During Clemson’s annual Give Day in 2019, the family gave $250,000 toward the new building and scholarships in the Wilbur O. and Ann Powers College of Business, as well as scholarships in the College of Education.


As a student, JB was president of the Student Alumni Council, a member of Blue Key and also active in Greek life.


JB serves on the Clemson University Foundation (CUF) Board, which he describes as “A part of my great fortune that I get to give back in serving.”


Through his service on the CUF Board of Directors, JB supports Clemson University by promoting growth and stewardship of resources entrusted to the University, thus fulfilling covenants with donors.


JB also serves on the President’s Advisory Board (PAB) alongside current and retired business leaders, presidents and CEOs of Fortune 500 companies.


As supporters of Clemson University, JB and his fellow PAB members advise  Clements on campuswide and national matters that directly and indirectly affect students, faculty and staff at Clemson, in higher education and beyond.


He has also served on the Trevillian Cabinet of the Wilbur O. and Ann Powers College of Business.


Additionally, JB has given of his time as a speaker at Clemson University’s Men of Color National Summit.


He joined Clemson and leaders in government, business, academia, sports and entertainment to emphasize the importance of education while helping to establish a sustainable, diverse pipeline of qualified candidates entering the workforce.


JB grew up in Columbus, Ohio, the youngest in a family of four children.


JB and Sara Brown met as students at Clemson. The couple married in 2000 and have three children: Cameron, Grace and Jack.


JB and Sara also have immediate Clemson Family, with Sara’s sister, Britta, and her husband, Mark, also being 1995 graduates and alumni.


JB has spent most of his career in the banking industry, which began when he and Sara moved to Charlotte and he worked for NationsBank. That was a steppingstone to a position at Bank of America.


JB’s tenure at Bank of America began as an analyst in 1998, and within 10 years, he was appointed corporate treasurer.


In 2009, Brown was hired as corporate treasurer at Ally Financial Inc. and eventually became the company CEO.


Because of his impact on the industry, American Banker recognized him as Banker of the Year for 2022.

Regional Management Corp. Mourns Passing of Board Member Philip Bancroft

Greer, S.C.-based Regional Management Corp. (NYSE: RM), a diversified consumer finance company, announced the loss of board member, Philip Bancroft, who unexpectedly passed away earlier this month.


“We are deeply saddened by Phil’s sudden and untimely passing,” said Carlos Palomares, chair of the Board of Directors of Regional Management Corp. “He was a well-respected member of the Board who brought to us a wealth of knowledge and experience, a keen business sense, strong ethics, calm wisdom, and sound judgment.


Palomares added, "It was a privilege to work alongside Phil, and we will be forever grateful for his contributions to our company. He will be greatly missed by all of us at Regional and by all who knew him.”


Bancroft served on the Regional Management Board of Directors since January 2022, including most recently as chair of the Board’s Audit Committee and as a member of the Board’s Risk Committee.


Prior to joining Regional Management’s Board of Directors, Bancroft was the chief financial officer and executive vice president of Chubb Limited, the largest publicly traded property and casualty insurance company in the world, from 2016 to 2021.


Prior to Chubb, he was the chief financial officer of ACE Limited from 2001 to 2016.


Bancroft also served as partner-in-charge for the New York Regional Insurance Group of PricewaterhouseCoopers (PwC) from 1996 to 2001, and spent nearly 20 years at PwC in various roles, including 10 years as a partner.


In addition to serving on Regional Management’s Board, Mr. Bancroft served on Saint Joseph’s University Haub School of Business/Advisory Board for Insurance Risk Management and various other nonprofit boards.


He was certified as a public accountant and earned his bachelor's degree in accounting from Temple University.

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