From $287 million in 2022 to $2.37 billion in 2023, economic growth in Richland County has skyrocketed
We’re breaking down the “why” behind the surge of economic growth in Richland County and taking a look at several investments that will shape the county’s economic future.
So far, 2023 has proven to be a year of record achievements for economic growth in Richland County. The Richland County Economic Development Office (RCEDO) announced capital investments have surged to $2.37 billion, and with them, 4,532 new job opportunities have become available.
Just to put that into perspective — according to the Richland County Economic Development Office’s 2022 report, $287 million was invested + 647 jobs were created last year. That’s a pretty big difference compared to this year.
Try this stat on for size — Between 2011-2022, $2.6 billion was invested in Richland County. We’re only into the eighth month of the year and 2023’s investments alone are creeping up on the total number of investments since RCEDO’s founding in 2011.
Let’s delve into three companies partly responsible for these numbers + that are shaping Richland County’s economic future.
- Local investment: ~$2 billion
- Jobs created: This investment has the potential to create 4,000+ jobs.
- Project scope: Scout Motors plans to create a manufacturing plant in Richland County + build electric off-road Volkswagons. When operating at full capacity, Scout has the potential to crank out ~200,000 vehicles annually.
- Local investment: ~$323 million
- Jobs created: ~300 jobs
- Project scope: Cirba Solutions — an electric vehicle battery materials facility — is establishing operations in Richland County by building a ~400,000-sqft state-of-the-art, world-class lithium-ion battery recycling + materials facility at Pineview Industrial Park. Watch this video to get the rundown on the project.
- Local investment: ~$18 million
- Jobs created: ~102 jobs
- Project scope: The global firearms manufacturer + partner of the US Department of Defense announced plans to expand its operations into Richland County in May by enhancing its SC production site, located close to Old Clemson Road. It plans on adding ~40,000 sqft to enlarge its manufacturing capacity, add office areas, and build a state-of-the-art design center.