Spartanburg County attracted $3.2 billion in new investment in 2022January 27, 2023
New investments and expansions find success in Spartanburg
In 2022, OneSpartanburg, Inc. landed 36 economic development projects on behalf of Spartanburg County and the City of Spartanburg, resulting in $3.2 billion in capital investment and the creation of 1,742 new jobs.
“That’s roughly $8.8 million every single day of the year circulating throughout our local economy, benefiting small-and medium-sized businesses in every corner of the county,” said Allen Smith, president & CEO of OneSpartanburg, Inc.
Spartanburg’s 2022 success comes on the heels of a strong 2021, with 44 economic development projects leading to $1.9 billion in investment and the creation of 4,045 new jobs.
According to the S.C. Department of Commerce, three Spartanburg County projects made the top-10 statewide by total capital investment:
- #2: BMW Manufacturing’s $1.7 billion investment in electric vehicle production, including a new, $700-million battery assembly plant in Woodruff
- #6: Greenidge Generation’s $264 million investment in a cryptocurrency mining and power-generation facility
- #10: BMW Manufacturing’s $200 million investment in a new press shop
BMW Manufacturing’s $1.7 billion announcement in October also made the state’s top-10 list for job creation, with 300 jobs announced.
“Spartanburg County is riding a wave of momentum in all facets of our economic development strategy,” said Katherine O’Neill, chief economic development officer at OneSpartanburg, Inc. “We remain a regional leader in job creation and industrial growth. And Spartanburg continues to be a place where businesses can locate, succeed, and grow.”
Traditional industrial sectors like advanced manufacturing, advanced materials, automotive, distribution and logistics, accounted for 83% of new investment. Growth sectors like life sciences, multifamily developments, and office and shared services accounted for the remaining 17%.
“Collaboration between the S.C. Department of Commerce, our local government partners, and a ready and willing private sector are why Spartanburg continues its tradition of leading the state in new investment and economic opportunity,” Smith said. “Per capita income and overall economic opportunities continue to rise at unprecedented levels, and the real winners are the people and families fortunate enough to call Spartanburg home. Continued collaboration amongst state and local partners will solidify sustained success in 2023 and beyond.”
Other new investment announcements included:
- Ingram Micro, a global technology and supply chain services company, announced a regional fulfillment center in Roebuck. The $37 million investment is expected to create 203 new jobs.
- Winar Connection, Inc., a custom cable products manufacturer, announced a facility to accommodate growth in demand. The $5 million investment is expected to create 50 new jobs.
Expansion announcements included:
- BMW Manufacturingannounced a new, 219,000-square-foot press shop in an expansion of the automaker’s Spartanburg campus. The $200 million announcement is expected to create 200 new jobs.
About OneSpartanburg, Inc.
Our mission is to build a vibrant Spartanburg through business, economic and tourism development. Whether you’re looking for business resources, economic expertise, community leadership or tourism information, OneSpartanburg, Inc. is where you’ll find it. Our collaborative organization was formed by merging the Spartanburg Area Chamber of Commerce, the Spartanburg Convention and Visitors Bureau, and the Spartanburg Economic Futures Group to maximize our community’s investment. www.onespartanburginc.com