More than half a billion-dollar investment over the course of the project will create 300 new jobs
COLUMBIA, S.C. – e-VAC Magnetics (e-VAC), a leading manufacturer of rare earth permanent magnets in the Western Hemisphere, today announced it is establishing U.S. operations in South Carolina, building its first facility in Sumter County. The project is expected to bring more than half a billion-dollar investment and create 300 new jobs for Sumter County.
e-VAC is part of the VAC Group (VAC), a leading developer of magnetic materials and solutions. e-VAC produces rare earth neodymium-iron-boron (NdFeB) magnets, which are critical to automotive, defense, industrial and renewable energy applications. This facility and VAC’s decades of experience in rare earth magnet technology and process intellectual property represent a critical step to ensuring a resilient, U.S.-based supply chain.
The company will construct, own and operate a new facility on 85 acres in the Pocotaligo Industrial Park located in Sumter County. The facility will house production of permanent magnets for electric vehicles and defense applications. e-VAC entered into an agreement with the U.S. Department of Defense, which will provide $94.1 million to acquire and install manufacturing equipment, operationalize technical infrastructure, and engineer production lines for the facility. Operations are expected to be online in late autumn 2025.
Through the readySC program, South Carolina’s Technical College System will help e-VAC recruit and train potential employees. A website with hiring information will be available next year.
The S.C. Coordinating Council for Economic Development approved job development credits related to this project. The council also awarded a $13 million Rural Infrastructure Fund grant to Sumter County to assist with the costs of land acquisition, site preparation, road improvements, water and wastewater improvements, and building construction related to this project. Sumter County was also awarded a $2 million LocateSC grant to offset costs associated with infrastructure improvements for the Pocotaligo Industrial Park that are needed for and will benefit e-VAC.
“e-VAC is grateful for the support of the State of South Carolina, Governor Henry McMaster, Senator Lindsey Graham, and Representatives Jim Clyburn and Ralph Norman. We are excited to become a member of the Sumter County community. This project represents a significant commitment by VAC to re-shore critical process and product technology, creating good paying and highly skilled jobs for residents of the community. With this support, we will directly contribute to U.S. energy independence and national security.."
-VAC Group Chief Executive Officer Dr. Erik Eschen
"Our concerted efforts to attract electric-vehicle related businesses to South Carolina continue to pay off in a major way, this time with more than half a billion dollars invested and 300 new jobs for Sumter County. This transformative investment by e-VAC will bolster Sumter's economy while strengthening our already thriving electric vehicle supply chain.”
-Gov. Henry McMaster
“South Carolina creates an environment of opportunity for e-VAC and Sumter County. The company has access to the tools and resources needed, like the readySC program, to cultivate a highly skilled workforce while creating 300 new jobs in the community. Congratulations, and welcome to our state’s business community.”
-Secretary of Commerce Harry M. Lightsey III
“The arrival of e-VAC Magnetics in Sumter County is a testament to our state’s booming economic growth and our commitment to fostering an environment that attracts business and opportunity. With the addition of 300 new jobs in the region, e-VAC will be a welcome partner to the readySC program, our technical schools, and the larger community. South Carolina continues to be a leader in the advancing electric vehicle sector, and I could not be prouder to continue this trend in Sumter County.”
-Speaker of the S.C. House of Representatives Murrell Smith Jr.
“On behalf of Sumter County, I welcome e-VAC Magnetics and extend congratulations for their transformative announcement today. We are excited about this new partnership and the effect the half a billion-dollar investment and the 300 high-skilled jobs will have on our economic prosperity. We commit fully and look forward to longstanding success.”
-Sumter County Council Chairman James McCain
“Indeed, it is our pleasure to congratulate e-VAC Magnetics on their monumental announcement today and welcome them to the Sumter Community. An investment of this magnitude of more than half a billion dollars and 300 new jobs, will have a lasting impact on our local economy.”
-Mayor of Sumter David Merchant
“Congratulations e-VAC Magnetics on your announcement today. We appreciate the confidence you have demonstrated by selecting Sumter, SC. Your business expansion is indicative of your business success, and we enthusiastically commit to walking in conjunction with you to ensure your continued growth in this region – welcome.”
-TheLINK Economic Development Alliance Chairman Gordon Eckley
“I am elated to extend a sincere congratulations to e-VAC Magnetics for their impactful announcement today. More than half a billion-dollar investment and the creation of 300 well-compensated technical positions is significant for our community and certainly exemplifies our continued readiness and ability to foster growth in Sumter, South Carolina. We are excited about this new surge of opportunity for our residents and what it will mean for our community.”
-Sumter Development Board Chairman Greg A. Thompson
FIVE FAST FACTS
- e-VAC Magnetics (e-VAC) is establishing U.S. operations in South Carolina, building its first facility in Sumter County.
- The project is expected to bring over half a billion-dollar investment and create 300 new jobs.
- e-VAC is a manufacturer of rare earth permanent magnets. .
- The company will be located in the Pocotaligo Industrial Park in Sumter, S.C.
- A website with hiring information will be available next year.