Palmetto State News

The South Carolina Department of Commerce (S.C. Commerce) has announced its industry recruitment results for 2024, revealing a total capital investment of $8.19 billion from January to December. Existing industries have shown strong support for the state by investing $5.38 billion in expansion projects.

Governor Henry McMaster highlighted the collaboration between the state and businesses, stating, "The mutual dedication and commitment between South Carolina and its business community have once again been demonstrated by the companies that have chosen to call our state home." He emphasized South Carolina's dedication to economic growth and business success.

The major investments contributing to the $8.19 billion include sectors such as Information Technology and Computer Equipment with $4.1 billion, Automotive with $1.3 billion, and Aerospace with $1 billion.

Secretary of Commerce Harry M. Lightsey III commented on the state's competitive position, saying, "The capital investment and economic development activity announced in 2024 reinforces South Carolina’s position as a competitive destination for businesses across many sectors." He reiterated S.C. Commerce's commitment to maintaining economic competitiveness by building on established industries like automotive while exploring emerging sectors.

In total, the announced capital investment corresponds to more than 5,500 new jobs. Additional information on South Carolina's economic activity in 2024 is available through S.C. Commerce's newsroom and the “Inform SC” data hub.