Posted on Thu, Oct. 30, 2003


Sanford concludes China, Japan economic development trip


Associated Press

Gov. Mark Sanford comes back to South Carolina on Friday a little more optimistic than when he left for his two-week economic development mission to China and Japan.

Sanford and state Commerce Secretary Bob Faith will get home in time for Halloween and said they're bringing back a few treats for the state.

On Wednesday, Suminoe Textile Co. Ltd., a Japanese car seat fabric maker, said it would create 130 jobs and invest $30 million when it locates its first American automotive subsidiary in Gaffney. The facility will begin operating in spring, Sanford said.

China's Ministry of Railroads also finalized an $87 million agreement with two South Carolina manufacturers. Pennsylvania-based Harsco Corp.'s track technologies division in West Columbia will get $68 million to produce track maintenance equipment for China's rail system during the next three years. The deal also benefits ImageMap in Columbia, which produces measurement equipment to improve railway safety and reduce maintenance costs.

Others deals could be on the way from a trip that Faith has said will cost the state Commerce Department about $30,000. Sanford kept the costs down, prodding the group to fly coach and share hotel rooms.

"By being here and sealing the deals that we have, that's a pretty good payback in and of itself," Faith said.

The two also said optimistic national news released Thursday - the U.S. Commerce Department said the economy grew at an annual rate of 7.2 percent in the third quarter - would make things easier to lure business.

"It would help a whole lot not to be swimming upstream," Sanford said. "That kind of news is enticing. I think it's great news."





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