COLUMBIA - State Commerce Secretary Bob
Faith said Thursday he expects a few new businesses will be
investing in South Carolina after his two-week trade mission to
China and Japan.
Faith and Gov. Mark Sanford are visiting Asia to recruit new
businesses, meet with officials of foreign companies already located
in South Carolina and discuss unfair trade practices with Chinese
government officials.
Faith would not discuss specifics of new prospects and said he
doesn't expect immediate results because of political and cultural
barriers. Still, "I wouldn't be surprised if the governor and I
don't come home with a pelt or two to put on the wall," Faith said.
"We expect by the end of this trip to have some firm commitments to
discuss in greater detail."
Faith said he has been selling South Carolina as a great place
for investment because of its low electrical, land and production
costs and strong work force.
South Carolina also has many companies with foreign parents
already operating in the state, including BMW, Fuji Film, Honda and
Michelin.
"That makes these people sit up straight and listen because they
know those are very smart companies that have the ability to go
anywhere they wanted to," Faith said. "They chose South
Carolina."
Sanford and Faith - accompanied by U.S. Ambassador to Beijing
Clark T. Randt - also met Thursday with the Chinese vice
premier.
China's manufacturing dominance has grown in recent years, while
the United States has lost manufacturing jobs. Now U.S. textile
interests are demanding caps on Chinese imports, and the National
Association of Manufacturers is accusing China of gaining an unfair
trade advantage through currency manipulation.
During this week's Asia-Pacific summit, Chinese President Hu
Jintao resisted President Bush's pressure to ease controls on the
currency.
Sanford said he talked with Chinese officials about the growing
political pressure over the trade issue, which "left unchecked, will
result in trade sanctions."
More than 15,000 S.C. workers have been laid off from their jobs
this year or lost them as a result of plant closings. This week
alone, three manufacturers have announced plans to lay off more than
1,100 people across the state.
To counter manufacturing job losses, Faith said the state is
working on a marketing effort to help existing businesses - such as
the automotive cluster that is developing in the Upstate.
The state also must work with research universities to spur the
growth of technology-based jobs and address several areas that
affect the state's business climate, such as worker's compensation,
health insurance and income tax relief, he said.