Governor Henry McMaster on Tuesday appointed his choice to lead an economic panel which predicts how much tax revenue the state will have for making its next budget.
McMaster announced Edisto Island banking executive Edward Grimball would be his choice as chairman of the Board of Economic Advisors.
“In order to govern effectively with an accurate idea of what to expect in the future, the executive and legislative branches must be able to depend on the information given by the BEA,” said Governor McMaster. “With Mr. Grimball as Chairman, I have no doubt that the research and analysis provided will be reliable and will serve the state well.” McMaster said in a release.
With over 30 years of executive-level experience in business and in the banking industry as a licensed CPA, Grimball most recently served as chief financial officer and board member of Hydro-Photon, Inc. Prior to that, he oversaw the management of a $3 billion investment portfolio as chief financial officer at Whitney Holding Company.
The 72-year-old is a 1966 graduate of The Citadel and earned a Master’s of business administration degree from the University of Virginia three years later.
The BEA is responsible for overseeing the operations of the South Carolina Revenue and Fiscal Affairs Office, which provides fiscal and statistical analysis, services, and reports for the Governor, General Assembly, state and local government entities, and the private sector.