Electric Vehicles

Foreign direct investment (FDI) is pivotal to South Carolina’s economy, accounting for more than 30% of announced economic development investments in 2023 alone. Today, over 1,100 internationally owned operations exist statewide — even for those with locations throughout the world, South Carolina-based operations stand out in helping drive global success.

When a state is rich in natural beauty, from the rolling foothills of the Appalachian Mountains to scenic sandy beaches, it’s hard to keep many destinations a secret. The word has long been out that South Carolina is a top stop, with its world-class golf courses and reigning destination cities, to name just a few.

COLUMBIA, S.C. – Columbia Vehicle Group (Columbia), an electric vehicle manufacturer, today announced it selects Aiken County for the company’s first South Carolina operation. The company’s $12.2 million investment will create 180 new jobs.

On April 1, 2024, S.C. Commerce named Annie Caggiano the agency’s new Global Business Development director. Caggiano, who is on her second stint with S.C. Commerce and previously served as a business recruitment manager, brings nearly 20 years of economic development experience to the role.

The automotive industry has grown over several decades, establishing itself as one of South Carolina’s major economic drivers.

To recognize the innovations and talent supporting South Carolina in “advancing the future, now,” The 2024 Governor’s Economic Summit united state, business and community leaders Monday, Jan. 29, 2024, setting forth South Carolina’s long-term economic development vision. In addition to remarks by Governor Henry McMaster, Secretary of Commerce Harry M.

In fulfilling its vision of embracing the future to ensure South Carolina’s sustainable advantage, the South Carolina Department of Commerce (S.C. Commerce) today unveiled its new agency brand and tagline, “Launch to Legacy,” to support industry recruitment and retention.

On the heels of a record-setting 2022, economic development throughout South Carolina showed few signs of slowing down in 2023. On Thursday, Jan. 4, 2024, S.C. Commerce announced its 2023 recruitment results, highlighted by a total capital investment of $9.22 billion — the second-highest amount in state history.

COLUMBIA, S.C. – e-VAC Magnetics (e-VAC), a leading manufacturer of rare earth permanent magnets in the Western Hemisphere, today announced it is establishing U.S. operations in South Carolina, building its first facility in Sumter County. The project is expected to bring more than half a billion-dollar investment and create 300 new jobs for Sumter County.

AESC, a world-leading electric vehicle battery technology company, today announced the expansion of its state-of-the-art battery cell facility in Florence County. The $810 million investment will create 450 new jobs. Expected to be complete by 2026, this new commitment follows AESC’s initial announcement in December 2022 of $810 million and 1,170 jobs, resulting in a total investment of $1.62 billion and 1,620 new jobs.