Expansion efforts by Charlotte-based steel giant Nucor combined with major investments in electric vehicles drove South Carolina’s economic development to a record year in 2022.
The S.C. Department of Commerce announced recently that the state had $10.27 billion in capital investment last year — the most in its history. That total represents 120 projects and a combined 14,083 promised jobs, according to a press release.
The single largest investment is a $3.5 billion Redwood Materials campus in Ridgeville, where the company will produce components for EV batteries
Also in the burgeoning EV sector, BMW announced two investments totaling $2.4 billion, while battery cell supplier Envision AESC pledged $810 million.
(WATCH BELOW: Blue Cross NC appeals loss of state worker contract to Aetna)
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