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SC’s 2023 Industry Recruitment is Second-Highest in History

January 4, 2024

81 projects to bring 14,120 jobs & $9.22B in capital investment

The South Carolina Department of Commerce has released its 2023 industry recruitment results, which reflect sustained economic activity. From January to December 2023, the state announced total capital investment of $9.22 billion, the second largest amount in state history. That investment represents 81 projects and 14,120 announced jobs.

“Once again, South Carolina has proven that it is among the best places in the world to do business,” said Gov. Henry McMaster. “Over the past year, our state proactively prioritized trends and topics that are crucial to maintaining a vibrant and competitive economy. Recording the second-highest year for industry recruitment in state history not only confirms the sustained interest for doing business here, but also signals to the global business community that South Carolina is a trusted partner for successful businesses.”

The announced capital investment of $9.22 billion includes major investments in the state’s two leading industry sectors by total investment, Automotive, Electric Vehicles (EV) and EV Batteries with $4.3 billion investment, and Alternative Energy and Fuels with $1.56 billion investment. Notably, in 2023, there were three announcements with investments of $1 billion or more — the highest such year in state history:

The previous record, of two projects with an investment of $1 billion or more in a single year, was set in 2014 and tied again in 2022.

“After a record-breaking 2022, South Carolina has remained committed to ensuring its long-term economic competitiveness and growing reputation as an established destination for transformational industry,” said Secretary of Commerce Harry M. Lightsey III. “Back-to-back years of strong industry recruitment reinforces South Carolina’s commitment to the success of our existing and new businesses, alike.”

The Upstate SC Alliance will release 2023 investment data specific to the Upstate SC region at our Annual Meeting on February 29, 2024. Save your spot and purchase tickets to the Annual Meeting here.

View South Carolina’s complete 2023 recruitment report

TOPICS: #TeamUpstate, Global Competitiveness, Business Recruitment