In his year as chairman of the board for the South Carolina Chamber of Commerce, David Lominack has gained an appreciation for the magnitude of the state’s economic success while also increasing his understanding of the challenges facing the Palmetto State’s business community.
Reflecting recently on his tenure, which ends in September, he said the $5.5 billion in investments and 5,700 jobs businesses have brought so far this year indicate the state continues to have a lot going in its favor.
“Over the past year, I’ve just been very pleased at the all-hands approach (by the chamber) to moving some of our challenges out of the way and capitalizing on opportunities,” said Lominack, the Greenville-based South Carolina market president for TD Bank.
With its primary role of advocating for the needs of the state’s business community, the chamber’s improved working relationship with the General Assembly is beginning to pay dividends, he said.
“Those things are important if you’re going to get anything done,” he said.
Among the gains brought are legislative efforts aimed at improving programs for workforce development and training, and addressing the state’s pressing infrastructure needs.
Lominack said expanding access to and lowering cost barriers for technical education across the state has helped address the demand for skilled workers. The many programs and institutions designed to produce a skilled workforce continue to draw new manufacturers to the state.
He said what sets South Carolina apart from its neighbors and other regions of the country is the ease with which public and private partners collaborate to create opportunities and address challenges.
Those challenges are real and enduring, he said, and will require persistent, collective efforts to overcome.
Lominack said among the areas where work remains to be done are legislative reforms to curb the profusion of lawsuits that have driven the cost of liability insurance for many businesses to crippling levels.
He also said the state needs to greatly expand its stock of affordable housing so critically needed workers can afford to live closer to the companies where they work. In a related vein, he said the state needs to make greater strides in improving the infrastructure needed to support the people and companies already here and those moving here in increasing numbers.
“Clearly we’re doing something right that businesses are looking to relocate here, that businesses are expanding here,” Lominack said. “This has been an incredible year to serve as chair … and despite any challenges we might have, there’s no place I’d rather be than South Carolina.”
