Global investment in Charleston, SC is nothing new. Charleston is home to a robust and diversified international business that is only expected to expand. South Carolina in general has dominated foreign direct investments (FDI) for a long time. In recent years Michelin, BMW, Mercedes, Fuji, AG Bayer, Hoffman La Roche, Adidas, and Volvo have joined foreign investors who have built manufacturing facilities, distribution centers and headquarters in South Carolina.
The Charleston region has been part of new or expanded operations from major multinational companies like Boeing, Aeterna Zentaris, Mercedes Benz, Nexans, SKF and Volvo, totaling billions of dollars in investment. In the last few weeks China’s Jingxin Chemical Group and American company VivaSC Recycling announced new investment plans in the region. The area has more than 130 foreign businesses representing 23 countries investing in the local market.
There Are Four Primary Reasons to Choose Charleston:
- Charleston Retains a Strong Workforce. ReadySC, a statewide training program partners with the state’s technical colleges to recruit skilled labor force that can be trained to meet the needs of companies moving into the area. Other training programs include Trident Technical College’s youth apprentice program that works directly with companies like Bosch and Cummins to train employees. Charleston has a rapidly growing workforce that is expanding 4.5 times faster than the Unites States workforce in general.
- Charleston Provides Global Connectivity. The area gives companies easy access to connect with regional, national and global markets. Charleston’s logistics network gives quick access to international air hubs, rail service, multiple interstates and the Port of Charleston. South Carolina effectively leveraged the use of Foreign Trade Zones (FTZ) to provide favorable treatment of duties for importation of raw materials and goods to companies, and for finished projects to consumers.
- Charleston Promotes a Favorable Business Climate. Charleston region supports business, and the state of South Carolina actively pursues investment by foreign companies. Community and state leaders provide assistance in fast track permitting, cutting red tape, and maintaining lower costs in doing business. The South Carolina Department of Commerce provides consultation and assistance to companies on each step of the process, from pursuing sites to develop, to providing labor to help import and export goods.
- Charleston Provides World Class Amenities and Lifestyle. Charleston consistently is voted one of the top destinations in the United States by readers of Conde Nast Traveler, and Travel & Leisure magazines. The area maintains beautiful beaches, historic culture and some of the top restaurants in the nation.
Source: Charleston Regional Development Alliance, “Global Firms like Volvo and Boeing are Investing in Charleston, SC” (www.crda.org)
Source: Colliers International, “Why South Carolina will Continue to be a Favorite for Foreign Investors,” June 2016
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