International News

"Luck is what happens when preparation meets opportunity." Those famous words of wisdom by Roman philosopher Seneca translate into how we do business today and illustrate the level of preparedness it takes to compete in the economic development arena.

S.C. Commerce has a long and successful track record of helping international companies establish, relocate and expand business operations in South Carolina. The department has a presence in five countries including Germany, which serves as the European Office, China, Japan, India and Korea, all working to promote South Carolina’s business-friendly environment and recruit industry to the state.

Team S.C. is committed to helping grow the international footprint of companies located within the Palmetto State, and to also recruiting foreign-based firms to locate in South Carolina. This past week, S.C. Commerce led delegations from the state on two trade missions in an effort to strengthen existing partnerships and cultivate new ones.
 

To showcase South Carolina’s business-friendly landscape and build relationships with some of the top names in the global automotive industry, S.C. Commerce recently led a delegation to Frankfurt, Germany for the International Motor Show (IAA).

With exhibitors from around the world, IAA provides a unique opportunity to witness presentations on the latest innovations and technological advances within the industry. While there, Team South Carolina had the opportunity to meet with representatives from international companies.

As South Carolina’s economy continues to grow in its global connectivity, more companies are beginning to explore the opportunities available for exporting and international trade. On June 20, an upcoming export workshop in Columbia will help guide attendees through the language and logistics of international commerce.

With more than 70 percent of the world’s purchasing power located outside of the United States, tremendous opportunities exist for South Carolina beyond the borders of our state. Foreign direct investment has played an important role in cultivating the Palmetto State’s advanced economy, bringing more than $20 billion investment and approximately 48,000 new jobs in South Carolina since 2011.

Last month, for the seventh year, the U.S. Small Business Administration awarded S.C. Commerce with grant funding as part of the federal government’s State Trade Expansion Program (STEP). South Carolina was awarded its full requested amount of $360,400.

With companies from all over the world operating and thriving in South Carolina, it’s clear that the state boasts a large international footprint. That’s why, as we seek to ensure continued economic growth, maintaining and strengthening relationships with diplomatic and business leaders from around the globe is critical.

South Carolina’s pro-business environment has been attracting companies the world over for decades; and, as a result, the state has become a top destination for foreign direct investment. Since 2011 alone, internationally-based firms have invested more than $19 billion in South Carolina, bringing 43,000 new jobs to the state.

For most of its history, South Carolina has benefited from a globally-connected economy. Throughout the 18th and 19th centuries, the state exported a great deal of rice, indigo and cotton to Europe. Then, in the 20th century, as industrialization spread across the Southeast, foreign manufacturers, like Michelin and Bosch, began to invest in South Carolina.