Economic Development in South Carolina

[krazeeboi]

Here are the recent huge eco-devo projects for York and Chester counties:

 

Singapore-based Giti Tires will build a $560 million manufacturing facility that create 1700 jobs in Chester County.

 

The Lash Group plans to invest up to $90 million for its new headquarters in Fort Mill and possibly a second building. The group will initially employ about 1,200 in Fort Mill, expandable to a 2,400-person workforce in several years. The company intends to keep about 600 workers in Charlotte through 2019.

 

LPL Financial intends to invest at least $150 million and create about 3,000 jobs in the next several years. The company has 1,000 workers in Charlotte, with those jobs moving to Fort Mill. The company also has offices in San Diego and Boston. LPL chairman and CEO Mark Casady said all of the company’s growth is slated for the Fort Mill office.

 

Both companies will build at the Kingsley North business park near the intersection of S.C. 160 and Interstate 77.

 

http://www.heraldonline.com/2014/06/16/6061386/healthcare-consulting-firm-bringing.html

[vicupstate]

Gvile News says Volvo is looking at the Carolinas and Kentucky for a plant.  My guess is it will finally be NC's turn.  

[krazeeboi]

Gvile News says Volvo is looking at the Carolinas and Kentucky for a plant.  My guess is it will finally be NC's turn.  

 

Only if the NC Legislature is willing to throw everything and the kitchen sink at the company like we know SC will. 

 

In other news, Movement Mortgage, LLC, one of the fastest growing mortgage lenders in the country, is establishing national headquarters in Lancaster County. The company is investing $22 million to build its brand new headquarters, creating more than 650 new jobs. The company’s Lancaster County headquarters will be constructed in the Bailes Ridge Business Park on S.C. Highway 160. With the acquisition of 24 acres and construction of a new 104,000 square-foot headquarter building; Movement Mortgage will consolidate several offices. Construction of the headquarters is expected to be completed in March 2016.

 

Schaeffler Group USA, a German-based supplier to the automotive, industrial and aerospace industries, is engaging in a capital improvement program at facilities in three South Carolina counties, totaling $163.8 million in new investment and more than 440 new jobs. The company is investing $97.4 million to expand its manufacturing facilities in Cheraw, creating an expected 331 new jobs; $1.4 million to upgrade its manufacturing facility in Spartanburg (no jobs figures given); and $68 million to expand its manufacturing facility in Fort Mill, creating an expected 112 new jobs.

[vicupstate]

1,200 job announcement expected this Friday for North Charleston at the Daimler plant 

 

http://www.postandcourier.com/article/20150302/PC05/150309877

[colasc]

Hoping Charleston/N. Charleston gets Volvo. There was an article in the State recently on how SC has been beating NC out and stealing some of its companies. With the port and rail lines there, along with I-26 and the airport, it would seem a logical fit. 

[GvilleSC]

Charleston is exploding right now.

[krazeeboi]

Charleston is exploding right now.

 

Indeed it is.

 

In other news, Ashley Furniture HomeStore licensee Broad River Furniture, a home furnishings retailer, is establishing a new corporate campus and distribution center in York County. The $12.6 million investment is expected to bring 200 jobs to Fort Mill, S.C.

[clt29301]

I hope the state does not go overboard with Volvo.  It is another auto plant but nothing on the scale of BMW and will not ever be on the scale of BMW.  I know that is a strong statement but BMW produces more cars in Spartanburg than Volvo sells in the US by a factor of 8.  Worldwide, Volvo is not considered a major player.  So, I don't see Volvo as being  a big "win" for the state.  It will be nice to have at the right incentive package but with the company's low sales volume, I am not sure how large this plant could be.  Here are the numbers...........year to date 2015 sales in the US for Volvo are less than 8,000 cars.  Annualized, that is 50,000 cars or about 1 month's worth of F150 sales, or 1/6th of the Toyota Camry sales.  

 

BMW builds over 300,000 cars in Spartanburg which will go to over 400,000 with the expansion........that is equal to almost all of Volvo's entire worldwide sales number.

 

The Jaguar/Land Rover Plant would be more interesting.

[MAJIKMAN]

If we can agree on anything. I can agree with you on jaguar. Way more interesting.

[clt29301]

If we can agree on anything. I can agree with you on jaguar. Way more interesting.

Neither group is very interesting. Both companies are struggling to stay relevant in the luxury car market. After BMW, Mercedes, Lexus, Audi and Cadillac, there is not much left in luxury cars that would warrant a stand alone plant. Jag could leverage Land Rover to get more volume and that is still a stretch. Ford sold these brands for a reason, they are just not that good.

[GvilleSC]

O'Neal, inc. is investing $5M and adding 60 new jobs at their Headquarters in Greenville. They're an engineering firm. It's great to see SC-based businesses grow!

[vicupstate]

The Post and Courier reports a permit has been filed with Army Corp of Engineers in Berkeley County for a wetlands permit at a 2,800 acre site that will be home to a 4,000 job manufacturing site.  There would be two phases each providing 2,000 jobs. 

 

Could this be Volvo?

[gman430]

Synnex announced that they will be expanding their corporate headquarters in Greenville and adding 150 new jobs: http://www.upstatebusinessjournal.com/news/synnex-announces-6-5m-expansion/

[krazeeboi]

Orchids Paper Products Company, a company that specializes in the manufacturing of high-quality, private label consumer tissue products, is establishing operations in Barnwell County. The company is investing at least $110 million, with the potential for additional investment. The project is expected to create 134 new jobs in Barnwell.

[colasc]

Looks like SC is about to land the first Volvo manufacturing plant in the country!

[Spartan]

That's certainly interesting. They are locating in Ridgeville - which should result in a lot of new growth in the far flung 'exurbs' of the Charleston metro. While this is a great win for economic development in South Carolina - it's a huge loss for quality urban development. The sheer amount of sprawl this thing will generate is going to be incredible, and I have doubts about Berkeley or Dorchester County's ability to promote good growth.

[krazeeboi]

The town of Ridgeville sees nothing but $$$ with the prospect of new tax revenue from all of the development that will spring up around the plant that they could annex.

[Spartan]

I wonder if they will get a special trade zone and a deal not to be annexed like BMW?

[vicupstate]

Charleston cracks top 20 in best performing cities rankings

Not surprising that Charleston would be doing well, but above Nashville is a little surprising. 

[krazeeboi]

This is easily the single largest economic investment SC has ever seen.

The Chester County Council approved tax breaks Tuesday as part of economic development package to bring a $1.6 billion manufacturing facility to the county.

The council, without discussion, approved a tax break ordinance for “Project 1429” which could employ as many as 1,400 people.

County officials declined to identify the company or to say where the plant will be built. They said the information will be made public by the company at a February or March groundbreaking ceremony that will likely be attended by the governor.

Before approving the tax incentives, the council held a public hearing on the project. The only information provided before the meeting for residents was its potential investment and jobs created and that it was a cellulosic renewable diesel facility.

Read more here: http://www.thestate.com/news/state/article52115930.html#storylink=cpy

[Jet-set]

Honeywell?

[vicupstate]

Blackbaud adding 300 jobs, building $154 mm campus

Blackbaud, one of the largest tech firms in the state, plans to build a new headquarters and create 300 jobs over the next five years, according to a news release from the S.C. Commerce Department.

The Daniel Island-based software firm plans to expand its existing Berkeley County headquarters operations into a larger, 360,000-square-foot facility, also on Daniel Island.

Edited May 19, 2016 by krazeeboi
Please include a brief description of the article when posting a news link

[vicupstate]

Honda expanding the Florence (Timmonsville) plant.

250 jobs $45mm

 

Honda expansion

[vicupstate]

Charleston Metro leads in GDP growth

GDP growth

The growth in gross domestic product at South Carolina’s metro areas between 2010-15:

Charleston-North Charleston: 14.8%

Spartanburg: 10.5%

Greenville-Anderson-Mauldin: 10.2%

Sumter: 9.3%

Columbia: 8.1%

Florence: 5.3%

Myrtle Beach-Conway-N. Myrtle Beach: 5%

N. Augusta-Richmond, Ga.: 2.2%

Hilton Head-Bluffton-Beaufort: -9.1%

Source: Bureau of Economic Analysis

[krazeeboi]

The revised numbers from previous years are interesting as well.