TODAY'S HEADLINES | MAY 8, 2012

Rental rates to increase in downtown Columbia

Despite a slight increase in the Columbia area office vacancy rate, Colliers International reports that downtown landlords are cutting back on concessions to tenants and raising rents. Meanwhile, suburban office parks will be competing aggressively for tenants.

UHC aims to get consumers involved in health care

Getting consumers involved will “radically change the health care system — in a good way,” said Garland Scott, president and CEO of United Healthcare of the Carolinas. Scott says it will create competition, foster consumer knowledge and help health care costs.

Security Federal net income dips 2.6% in fiscal year

In the fiscal fourth quarter ended March 31, net income for the Aiken-based bank holding company increased to $430,000 from $391,000 in the fiscal fourth quarter a year ago. For the year ended March 31, net income for the company was $1.795 million, down 2.6% from $1.843 million a year earlier.

Cooley plans $10M expansion of Lancaster plant

The investment, which will create about 50 jobs over the next 18 months, is needed to keep up with global demand for the polymer membranes produced by the Cooley Group. Hiring will take place over the next 18 months, the company said.

Iron Mountain buys Columbia information storage firm

The information management services company acquired records storage firms Document Systems Inc. in Columbia, File House Offsite Record Storage in Fredericksburg, Va., and offsite data protection provider First National Safe Deposit in the Philadelphia area.

Commission proposes 45-foot depth for Savannah River

The Savannah River Maritime Commission decided the benefits of dredging to the Army Corps of Engineers’ proposal of 47 feet didn’t outweigh the costs and environmental impact of gaining two feet of depth. The Army Corps of Engineers can appeal the decision within 15 days or can wait and challenge its decisions in court.

Capital Bank reports first quarter profit

Capital Bank N.A., which has branches throughout South Carolina, reported first quarter income of $11.9 million. The bank launched its S.C. footprint in 2010 when its parent company acquired First National Bank of the South based in Spartanburg.

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In our next print edition we will be featuring Architecture Firms and SIOR Members. To add your company to the Architecture Firms list, click here. Add data to the SIOR Members list here. Sample our
featured list of colleges and universities in the Midlands ranked by
spring enrollment here, or view the entire database here.

The Daily Report is published by the Columbia Regional Business Report,
a publication of SC Biz News.

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