Global Business News

South Carolina knows what drives automotive success. The state’s reputation as an automotive powerhouse began to develop in the mid-1970s when European heavyweights Michelin and Bosch established operations in S.C. Two decades later, BMW joined the state’s business community, transforming the way South Carolina is viewed worldwide. Today, the Palmetto State is a global leader in automotive manufacturing – home to some of the world’s biggest brands.

Secretary of Commerce Harry M. Lightsey III kicked off a tour of the state’s economic development alliances at the Upstate SC Alliance’s Midyear Meeting on Wednesday, August 25. Leaders from across the 10-county Upstate region convened for updates on the alliance’s activities, economic performance and to network. 

A revolution in the automotive industry is underway, and South Carolina is helping lead the charge – literally. Sustainability initiatives and fluctuating oil prices are shifting the sector toward electric vehicles (EV) as alternatives to gas-powered combustion engines. And, that shift is accelerating within our borders.

Volvo Cars is celebrating the opening of its new education and training facilities. With top company leadership in attendance, Volvo hosted a grand opening ceremony for its Volvo Car University and Volvo Car South Carolina Technical Center buildings at its campus in Berkeley County on Wednesday.   

Magna Mirrors has officially started construction on its new facility in Spartanburg County. A division of Magna International, one of the world’s largest suppliers in the automotive industry, Magna employs more than 2,400 South Carolinians. 

With an estimated annual impact of $27 billion, the automotive industry is a major economic driver in the Palmetto State. To build on that growth and continue the advancement of the sector, the South Carolina Automotive Summit – which wraps up today – brings together top minds in the industry each year. This year’s summit, held virtually, provided an opportunity for leaders in the industry to discuss the latest business trends, share best practices and connect with automotive industry stakeholders. 

A historic moment 20 years in the making. Team South Carolina’s reputation as an international business powerhouse received a big boost when SC Ports welcomed the first vessel to the Hugh K.

“You never get a second chance to make a first impression.”

Team South Carolina takes that famous quote by legendary American actor Will Rogers to heart. We recognize that in the realm of economic development, it’s imperative to put our best foot forward. And, the world has taken notice.

"I do not think that there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature." -John D. Rockefeller

The logistics industry is now a $37.2 billion industry in South Carolina. That’s according to the 2020 SC Logistics Economic Impact Study released today by the SC Council on Competitiveness. The study, completed by research economist Dr. Joseph C. Von Nessen, details the overall economic impact, employee wage averages, employment growth and the emphasis on increased technology reliance within the logistics sector.