By Rudolph Bell BUSINESS WRITER dmbell@greenvillenews.com
Gov. Mark Sanford said Friday he is changing one of his
appointees to a new state board charged with helping to find funding
for start-up companies in order to include someone from the Upstate.
Originally, no Upstate residents were among six appointees that
Sanford and three lawmakers put on the seven-member board.
But Sanford said Friday he asked one of the three people he had
appointed earlier -- W. Leighton Lord III, chairman of the Nexsen
Pruet law firm in Columbia -- to step down, and when Lord agreed, he
invited Greenville businessman John Warner to join the board.
The Upstate should have a representative on the board because
it's the "epicenter of business in South Carolina," Sanford told The
Greenville News on Friday.
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"I think that more IPOs (initial public offerings of stock) have
been done out of the Upstate than any other region of our state,"
the governor said. "I think that in terms of new ventures and new
start-ups, there's more of that in the Upstate than any other part
of our state."
Warner said he is considering the offer and will take the weekend
to make sure he doesn't have any conflicts of interest. "There's
nothing I'm involved with today that I believe is a conflict," he
said.
Warner is founder and chairman of InnoVenture, a conference held
in Greenville each year designed to match startup companies that
need funding with venture capital companies looking for investment
opportunities.
Warner was among the Greenville businessmen who objected to the
board's original makeup during interviews with The Greenville News
on Tuesday.
Sanford said he didn't realize that no one from the Upstate was
among the original six appointees until The News reported it on
Wednesday.
"When I did learn something that didn't make sense, we
immediately took measures to correct it, and that's what we'll
always do as an administration," Sanford said.
The board is charged with implementing the Venture Capital
Investment Act, which offers tax credits to banks and insurance
companies in hopes of raising up to $50 million for startup
companies.
The law gives the governor three appointments to the board, and
one each to the president pro tem of the Senate, the speaker of the
House, the chairman of the Senate Finance Committee and the chairman
of the House Ways and Means Committee.
Sanford said an aide who handles his appointments to various
boards and commissions thought the Upstate was already represented
on the board when she recommended the governor's original three
appointments.
Sanford said the aide assumed that Rep. Dan Cooper of Piedmont,
the new chairman of the Ways and Means Committee, would appoint
someone from Anderson County or the Interstate 85 corridor. As it
turned out, Cooper picked Tom Persons of Columbia, a retired
AT&T executive who heads the South Carolina Technology Alliance.
Sanford said his aide also believed that Greenville businessman
Hayne Hipp was already on the board.
David Wilkins of Greenville, the former speaker of the House, in
2004 had talked with Hipp about serving on the board and wrote a
letter appointing him. But Hipp said Friday he declined the
appointment after initially considering it.
"I think I felt like I had a conflict of interest at that point,"
Hipp said. "I was running for County Council, and I was actively
running a business."
Wilkins moved to appoint Hipp in the summer of 2004 after the
Venture Capital Investment Act passed the Legislature the first
time. After that, the law was part of a Supreme Court challenge, and
last year lawmakers passed a new version.
Hipp said Friday that if the Governor's Office thought he was
already on the board, "Then that's certainly an honest mistake on
their part."
Sanford's other appointments are Chad Walldorf of Sullivans
Island, co-founder of the Charleston-based Sticky Fingers restaurant
chain and his former deputy chief of staff, and Stephen Alan Imbeau,
an allergist and investor from the Pee Dee.
Rep. Bobby Harrell of Charleston, Wilkins' successor as speaker
of the House, appointed Steve Swanson, founder and chief executive
of Automated Trading Desk, a Mount Pleasant company.
Sen. Hugh Leatherman of Florence, chairman of the Senate Finance
Committee, appointed Michael Space, director of finance and
information technology at Roche Carolina Inc. in Florence.
Sen. Glenn McConnell of Charleston, president pro tem of the
Senate, has not announced an appointment. He could not be reached
for comment. |