Spartanburg Area Economic Developments

[goodbye]

Spartanburg-based First National Bank of the South was one of six banks nationwide that officially closed on Friday, according to the WSJ.

The largest failure occured in South Carolina, where Spartanburg-based First National Bank of the South was seized by regulators. The bank had total assets of $682 million and total deposits of $610.1 million as of the end of March.

Official information

[goodbye]

According to the official press release...

Collectively, the three failed institutions operated 23 branches, which will reopen as branches of NAFH National Bank using their current names and under their normal business hours, including those offices with Saturday hours. Metro Bank of Dade County has six branches; Turnberry Bank has four branches; and First National Bank of the South has thirteen branches. Depositors will automatically become depositors of NAFH National Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage.

[hub-city]

WSPA is reporting that Winston-Salem is getting the CAT plant with around 400 jobs.

[goodbye]

The Radisson hotel (fka "Wilson World") is no longer a Radisson. After staying there a few nights recently, this is no surprise to me. I realize this happened nearly a month ago, but haven't seen anyone mention it here yet.

Edit: Just found an article in GSA Business.

Edited August 7, 2010 by Skyliner

[Spartan]

I never stayed there, but that doesn't surprise me. That location was never spectacular. It looked ok from the interstate but that's about it.

[goodbye]

WYFF is reporting that International Paper will permanently close their Spartanburg plant, eliminating 110 jobs from the local economy.

[westsider28]

The Miss South Carolina Pageant is moving to the Township Auditorium in Columbia after 15 years at the Spartanburg Memorial Auditorium. The decision to relocate was based on Columbia's central location.

Herald-Journal article

I know there's been a lot of controversy around the Miss SC Pageant, but I'm sure Spartanburg will miss its contributions to the local economy (especially the Marriott, most likely).

[roads-scholar]

I suspect Columbia made a strong pitch for the pageant and also understand the Township Auditorium has been renovated.

I really haven't followed the pageant closely but from what I do know, Spartanburg did a nice job hosting the event and most of the contestants and their families came away with a favorable impression of our city.

[goodbye]

More bad economic news for Spartanburg: Kohler is laying off 85 workers at the company's local plant due to the weak housing industry nationally.

Source: http://www2.wspa.com/news/2010/nov/04/kohler-cutting-450-jobs-spartanburg-plant-impacted-ar-1052325/

[westsider28]

Good news! Automotive supplier Draxlmaier is investing $10 million on a 65,000 square foot addition to their Duncan plant. This will create 100 new jobs.

Herald-Journal article

The expansion is in response to plans by BMW to produce a new "volume" model, possibly the 3- or 5-series, at their Spartanburg county plant.

[westsider28]

More jobs coming to Spartanburg County! Atlantic Beverage Inc. is locating a new bottling operation in an existing facility near I-26 that should create 300 jobs over the next 2 years.

Herald-Journal article

[gman430]

Looks like a very large economic development announcement could be coming soon for Spartanburg County: http://www2.wspa.com/news/2011/nov/15/councilman-promises-substantial-jobs-announcement--ar-2709162/

[westsider28]

Just wanted to mention this article from yesterday, which contains a few more details about "Project 300." At a special meeting, $487,000 toward road improvements (widening, signals) was approved for John Dodd Road. Also, the identity of the company involved in "Project 300" will likely be revealed at the County Council meeting on November 28, when the third reading of the incentives package occurs.

Herald-Journal article

[Sparkleman]

More jobs coming to Spartanburg County! Atlantic Beverage Inc. is locating a new bottling operation in an existing facility near I-26 that should create 300 jobs over the next 2 years.

Herald-Journal article

Did the Atlantic Beverage Co plant ever get off the ground? I had heard that it was going in the old Rexham plant over off New Cut Rd but I have seen no signs of that happening. Did they just decide not to come?

[westsider28]

As rumored, "Project 300" is Amazon.com. A distribution center would employ 390 people full-time and bring a $50 million investment. Jobs generally pay $11 to $13 per hour.

Herald-Journal article

[Spartan]

I think the paper may have over-hyped this one a little. It's great news to be sure, though.

I sort of question the $500k that is being spent on John Dodd Rd. How much is Amazon contributing towards the road improvements (which area obviously for them)?

[krazeeboi]

I agree that it looks like this one was trumped up a bit when first leaked with that 1,000 jobs figure floating around. But this is still good news for Spartanburg and still a significant investment.

[drexel]

I agree that it looks like this one was trumped up a bit when first leaked with that 1,000 jobs figure floating around. But this is still good news for Spartanburg and still a significant investment.

It is great news, but I blame the trumped up news on David Britt. I thought that his remarks two weeks ago made it sound more than it is. His statement of 'good paying jobs' made me think more like $35,000+ a year. Although, I am very grateful..

[Spartan]

^ Me too. I think we read it as "good-paying jobs" when in reality he means "good, paying jobs." But this is good news nonetheless.

[westsider28]

I meant to post this last week when the story came out. But anyway, the Spartanburg Chamber of Commerce is launching an entrepreneurial support program that will help new business ventures get up and running, with assistance ranging from advice to funding.

Herald-Journal article

I hope that this program will make an impact. Because I agree that Spartanburg is woefully lacking when it comes to entrepreneurs, start-ups, etc.

[roads-scholar]

Drove by the Amazon site yesterday (John Dodd Road and Interstate 26) and noticed the heavy equipment has already arrived. It appears that construction, or at least the earth-moving part of the project, will be commencing very shortly.

[westsider28]

As you have probably heard, BMW is investing $900 million in the Spartanburg plant and will create 300 jobs by the end of this year! They're increasing production at the plant to 350,000 vehicles and will soon be producing the new X4 sports activity vehicle in addition to the current X3, X5, and X6.

Herald-Journal article

Edit: Now they're saying a total of 1,000 new jobs will be added over the next 3 years! Even better!

Edited January 13, 2012 by westsider28

[Spartan]

That's great news for Spartanburg and the Upstate!

[gman430]

Highland Baking Co. has purchased the former Mrs. Smith’s bakery at Hearon Circle for $4 million. The company will use the facility for its new baked goods distribution center.

County Councilman David Britt said the company’s proposed capital investment in the plant is for $11 million and he expects the project will create about 200 jobs.

More info: http://www.goupstate.com/article/20120126/ARTICLES/120129705/1083/ARTICLES?Title=Highland-Baking-Co-buys-facility-in-Spartanburg-County-project-could-create-200-jobs

[roads-scholar]

Highland Baking Co. has purchased the former Mrs. Smith’s bakery at Hearon Circle for $4 million. The company will use the facility for its new baked goods distribution center.

County Councilman David Britt said the company’s proposed capital investment in the plant is for $11 million and he expects the project will create about 200 jobs.

More info: http://www.goupstate...create-200-jobs

from the Highland Bakery website:

Thank you for taking the time to learn more about Highland Baking Company. We are thrilled to become part of the Spartanburg, SC community.

We are a family run business that has been producing quality bread products for over 28 years. During that time, we have expanded from strictly selling to the Chicagoland area to distributing nationwide for many national restaurant chains. Our Spartanburg facility will both produce and distribute for the East Coast portion of these national customers.

We see our employees as members of our family and we hope that many of you in the Spartanburg, SC community will become family members in the near future. To contact us, please click on the contact icon above for information on how to apply for a job (including to down load an application), to submit information to become a vendor, and to just ask general information questions. For answers to frequently asked questions, please click on the Frequently Asked Questions icon above.

Thank you and we look forward to joining your community and having your community join our family.

Sincerely,

Jim Rosen

CEO & President