Automotive

In mid-July, Deputy Secretary of Commerce Ashely Teasdel and S.C. Commerce led a state delegation throughout the United Kingdom. The mission trip helped grow bilateral collaboration, strengthen economic ties and build trade relations — continuing to advance the December 2022 memorandum of understanding between the two economies.

For over three decades, BMW has given South Carolina plenty to celebrate and Friday, June 21, 2024 — just days before the company’s 32nd anniversary of its initial investment announcement in the state — the German automaker delivered again.

Tag der Industrie (TDI), also known as the “Day of German Industry,” is Germany’s most prominent celebration and gathering of the European nation's industry leaders, business executives and economic policymakers.

On Tuesday, July 2, 2024, the U.S. Department of Commerce’s Economic Development Administration (EDA) named the SC Nexus for Advanced Resilient Energy (SC NEXUS) one of 12 tech hub recipients of the agency’s implementation funding round.

COLUMBIA, S.C. – ElringKlinger Group (ElringKlinger), an automotive supplier, today announced it selects Pickens County to establish the company’s first South Carolina operation. The $40.3 million investment will create 115 new jobs.

Foreign direct investment (FDI) is pivotal to South Carolina’s economy, accounting for more than 30% of announced economic development investments in 2023 alone. Today, over 1,100 internationally owned operations exist statewide — even for those with locations throughout the world, South Carolina-based operations stand out in helping drive global success.

When a state is rich in natural beauty, from the rolling foothills of the Appalachian Mountains to scenic sandy beaches, it’s hard to keep many destinations a secret. The word has long been out that South Carolina is a top stop, with its world-class golf courses and reigning destination cities, to name just a few.

On April 1, 2024, S.C. Commerce named Annie Caggiano the agency’s new Global Business Development director. Caggiano, who is on her second stint with S.C. Commerce and previously served as a business recruitment manager, brings nearly 20 years of economic development experience to the role.

Annual trade and export figures released by the U.S. Department of Commerce put South Carolina’s 2023 export sales at $37.3 billion, defying a national trend where U.S. exports dropped 2.2% over the same timeframe. The automotive industry remained the state’s leading export — South Carolina was once again the nation’s top exporter of tires, and a national leader in the export of completed passenger vehicles. In total, South Carolina exports reached 211 countries in 2023.

The automotive industry has grown over several decades, establishing itself as one of South Carolina’s major economic drivers.