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Greenville Business Magazine

The Business Narrative: Transformational Gift

Oct 23, 2024 09:36AM ● By Donna Walker

(Photo courtesy of Clemson University)

Snow Family Donates $25 Million To Clemson To Support Study of Capitalism

With a transformational gift of $25 million to Clemson University, school officials said Dave and Lynette Snow have positioned the newly named Snow Institute for the Study of Capitalism to become the model program in America focused on the moral principles of capitalism.

 

The officials said their lead gift enables the Institute to chart a 10-year vision for expansion of current programming and the creation of new projects.

 

Since 2005, the Clemson Institute for the Study of Capitalism and its flagship Lyceum Scholars Program, established in 2014, have been working to explore the moral foundations of a free society and the vital role played by capitalism in advancing a free, just and virtuous society.

 

Clemson is the only public university in the country that supports a program directly addressing and promoting the nation’s founding principles through both education and research.

 

“Through their transformational gift, Dave and Lynette Snow are continuing to fulfill the mission and vision of our founder, Thomas Green Clemson, who envisioned our University as a path to economic prosperity,” said President Jim Clements.

 

He added, “The Snow Institute for the Study of Capitalism is a commitment to our Tigers and will significantly impact lives across the state of South Carolina and the nation. We are a better University because of the dedication and support from the Snow family.”

 

The Snows’ support will allow the Institute, housed within the Wilbur O. and Ann Powers College of Business, to double the Lyceum Scholars Program from 40 to 80 scholars.

 

The Shows’ gift will also double the scholarship for current and future scholars, further providing the opportunity to recruit top students.

 

The Snow family is the first and lead gift in an effort to raise $100 million toward the study of capitalism.

 

In addition to accelerating the impact of the Lyceum Scholars Program, the gift will support doubling the Lyceum Fellows program and launching two new critical programs:

 

The American Founding Project — America’s first and only academic program dedicated to the understanding of the history, principles and institutions of the American founding.

 

The Capitalism Unleashed Project — A program dedicated to the moral underpinnings of capitalism within the world.

Company Investing $47.9 Million In S.C. Manufacturing Facility

BENTELER Automotive Corporation, a leading global automotive supplier, announced Oct. 22, 2024, it is expanding its Spartanburg County operations.

 

Officials said the $47.9 million investment will improve the company’s manufacturing and assembly facility.

 

“This investment will enable us to improve our equipment and facilities technology to support the thriving automotive industry,” said BENTELER Spartanburg Plant Manager Chad Nelson. “It’s a reflection of our ongoing commitment to the automotive industry and Spartanburg County.”

 

Said Gov. Henry McMaster: “South Carolina continues to build on its reputation as a global leader in the automotive industry, and BENTELER’s announcement today is further proof."

 

McMaster added, "This $47.9 million investment is a major win for Spartanburg County, and we are proud of the success BENTELER has found in our state.”

 

Part of the global metal processing specialist BENTELER Group, BENTELER’s Spartanburg plant supplies automotive-welded assemblies and modules to automobile manufacturers globally.

 

The company’s products include chassis systems, structures, exhaust systems and engine applications.

 

BENTELER's investment in its existing facility, at 1255 Howell Road in Duncan, will consist of building improvements as well as updated machinery, fixtures and furnishings.

 

The company opened its Spartanburg County facility in 2006.

SCDOT Receives $195 Million Federal Grant for Long Point Road Interchange Project

SCDOT received $195 million in federal grant money from the U.S. Department of Transportation to fund the Long Point Road Interchange Project in the Lowcountry.

 

Officials said this is the largest single grant award in the agency's history and this year alone, SCDOT has secured $372 million in federal grant dollars to advance critical infrastructure projects in the state.

 

The officials said the project will improve operations of the Interstate 526 and Long Point Road interchange, with dedicated flyover ramps for port-related traffic to improve operations and local traffic.

 

In addition to significant traffic and operational improvements, the project will provide community enhancements including a multi-use path and noise walls, the officials said.

 

The total project cost is $325 million, including $195 million from the grant award from USDOT, $65 million from federal dollars already apportioned to South Carolina and $65 million in state funds.

 

The design phase of the project is underway, and construction is anticipated to begin in early 2026.

 

I-526 is an interstate that provides a partial beltway around Charleston and acts as a bypass for traffic on U.S. 17 through Mount Pleasant, downtown Charleston, and portions of the West Ashley area.

 

In July 2022, SCDOT completed a Planning & Environmental Linkages (PEL) study for I-526 Lowcountry Corridor EAST, from Virginia Avenue in North Charleston to approximately US 17 in Mount Pleasant.

 

The PEL study identified existing and projected transportation issues within the corridor through analysis and public and stakeholder engagement.

Correction

An item in Tuesday’s Business Narrative incorrectly spelled the name of Greenville, South Carolina-based Logisticus, a transportation logistics, project management and technology company that recently acquired rail logistics leader KingSize Rail and Logistics.  

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