South Carolina sees Foreign Direct Investment as new money for its economy—new money to build growth both in the state and the country. And as the nation’s 12th fastest growing economy, South Carolina’s position in the global economy has grown tremendously since becoming home to hundreds of the world’s largest companies.
“Until two decades ago, South Carolina was known primarily as a textile state. Today, it has garnered a global reputation as a leader in aerospace and auto manufacturing. It’s leading the nation in advanced manufacturing, having evolved from being ‘the little engine that tried’ to being ‘the little engine that could,’” says South Carolina’s Secretary of Commerce Bobby Hitt.
Companies like BMW, Michelin, Continental Tire, Bridgestone and other manufacturing companies are changing the landscape of our state. Site Selection recently ranked South Carolina 10th most competitive and first in tire exports. The state holds 30 percent of the share of U.S. made exported tires.
The Palmetto State is also ranked fourth nationwide for the percentage of employment in United States affiliates of foreign companies. State officials hope to retain and attract business abroad, as well as admit new markets in developing countries.
Learn more about South Carolina’s promising future in Columbia Metro’s “Made in South Carolina” article.
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