Posted on Fri, Jan. 28, 2005


S.C.’s efforts pay off
State has ‘heck of a year’ in attracting capital investment, creating jobs


South Carolina recruitment efforts helped create 13,491 jobs and almost $2.8 billion in investment last year, according to the S.C. Commerce Department’s annual Capital Investment Report.

The report showed investment was more than double that of 2003. It also showed projected wages for the new jobs at $34,773, about 31 percent higher than the state’s per capita income.

Commerce Secretary Bob Faith called it “a heck of a year” for the agency. “These jobs we brought in averaged well above per capita income,” he said.

This year was the first time the department tracked and compared average projected wages in the report.

The report has been adjusted under Gov. Mark Sanford to count only economic development projects in which the state played a direct recruiting role.

“We feel like this more directly reflects our contributions,” Faith said.

The biggest economic development prize was Global Aeronautica, an international joint venture between Dallas-based Vought Aircraft Industries and Alenia Aeronautica of Rome.

The planned $566 million plant in North Charleston will create at least 645 jobs.

CitiFinancial Inc. plans to open a call center in Rock Hill creating 1,600 jobs. Another key investment is a $200 million expansion of the Kimberly-Clark Corp. plant in Aiken County.

Faith said about 25 percent of the jobs created through the department’s efforts last year were created in rural areas. “We outperformed our goals” bringing jobs to rural counties, he said.

The department said 105 companies plan to expand or make new investments in the state.

There were 70 expansions of existing businesses, projected to create 6,670 jobs and more than $1.6 billion in spending. New investments of $1.1 billion will create 6,821 jobs.





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