RIDGEVILLE, S.C. — A major economic development announcement for the state of South Carolina was made today. Redwood Materials said it will invest $3.5 billion in a new campus at Camp Hall Commerce Park in Ridgeville, near Charleston.
[ ALSO READ: Charleston restaurant known for frosé to open in South End ]
The Carson City, Nevada-based company, which makes battery components for electric vehicles, said it plans to create 1,500 jobs there. The more than 600-acre campus will “produce enough anode and cathode material for 100 gigawatt-hours (GWh) of battery cell production or 1 million electric vehicles each year,” a news release stated.
The pledged investment of $3.5 billion represents South Carolina’s largest-ever economic development announcement, state officials said.
Redwood Materials said it plans to break ground on the Ridgeville campus in the first quarter and have its first recycling process in operation by the end of 2023. The company added that it will build out “downstream component manufacturing and scale, step-by-step.”
VIDEO: Cruise ships to no longer depart from Charleston after 2024
This browser does not support the video element.