More than $14.9 million investment will create 25 new jobs
COLUMBIA, S.C. – Nova Molecular Technologies, Inc. (Nova), a chemical manufacturing company, today announced plans to expand operations in Sumter County. The more than $14.9 million investment will create 25 new jobs.
Founded in 1991, Nova is a leading producer of high-purity solvents. The company’s high-value solvent Recovery and Return program helps companies reduce costs, increase supply certainty and improve sustainability initiatives. Additionally, through its Recovery and Return program, chemicals are recovered that would traditionally be sent to waste disposal, reducing environmental impact and allowing better risk mitigation of raw material supply.
Expanding to the Pocotaligo East Industrial Site in Sumter, located within an Opportunity Zone, Nova’s expansion will increase the company’s manufacturing operations.
The expansion is expected to be completed by 2024. Individuals interested in joining the Nova team should visit https://novamolecular.com/ for more information.
The Coordinating Council for Economic Development has approved job development credits related to this project. A $300,000 Set-Aside grant was also awarded to Sumter County to assist with the costs of site preparation and infrastructure improvements.
“Nova began considering options in four states including South Carolina. All sites were located within Opportunity Zones which will provide significant tax benefits which will be reinvested back into the business. The Sumter, S.C. site was selected due to the proximity of the existing production facility to utilize and expand the outstanding Sumter community workforce we currently enjoy. The proximity also allows for better collaboration between sites. The financial incentives offered by the local and state governments were very competitive as well as the favorable corporate tax structure.” -Nova Molecular Technologies, Inc. Chairman of the Board Jon Michael Clumpner
“While we work every day to bring new companies to South Carolina, it is always exciting to see one of our existing businesses expand. We celebrate Nova’s $14.9 million investment in Sumter and the 25 new jobs the company will create.” -Gov. Henry McMaster
“South Carolina has a history in chemical production, and today’s announcement shows that this sector continues to thrive in our state. Nova’s decision to expand in Sumter County is another indication our business-friendly climate is helping companies grow.” -Secretary of Commerce Bobby Hitt
“It is always exciting to publicize and acknowledge the growth of a company in our county that has been an exceptional leader and partner in not only their line of business, but also in community cooperation and support. Increasingly, in the company’s time in Sumter, they have proven their desire to provide excellence in service to corporate customers and support to the well-being of our region.” -Sumter County Council Chair Jim McCain
“During my time as mayor, one of our top priorities has been to continually strengthen our existing industrial and technology sector and build upon our business partnerships. This expansion provides further evidence that our efforts have not been futile but rather fruitful. We are elated that Nova Molecular Technologies, Inc. will be growing their operations and providing new high-tech jobs for our citizens.” -Sumter Mayor Joseph McElveen
“As we continue the work to strengthen our region with a robust lineup of industries, we are more than pleased to know that Nova Molecular Technologies, Inc. recognizes those efforts and has decided to expand their current operations to meet the business demands of their existing and potential customers right here. We are committed to helping secure their current and future business success.” -TheLINK Economic Development Alliance Chair Gordon Eckley
“For more than a decade, Nova Molecular Technologies, Inc. has provided superior service to Fortune 500 companies from around the globe from their Sumter operations facility. That, coupled with their announcement of an expansion, speaks volumes about the quality of work and workers that transpire in this region. We have long pursued and will continue to seek solutions to match world-class employers with exceptional employees that meet and exceed their expectations in order to respond to business needs. We are thrilled that Nova Molecular Technologies, Inc. is growing and also for our community which will benefit greatly from this investment and job creation.” -Sumter Economic Development Board Chair Greg A. Thompson
FIVE FAST FACTS
• Nova Molecular Technologies, Inc. (Nova) is expanding operations in Sumter County.
• The more than $14.9 million investment will create 25 new jobs.
• Nova is a chemical manufacturing company.
• Expanding to the Pocotaligo East Industrial Site in Sumter, S.C.
• Individuals interested in joining the Nova team should visit https://novamolecular.com/ for more information.