Daniel Prince
Union County contributed $198.7 million in investment and 560 new jobs
The South Carolina Department of Commerce released its 2022 industry recruitment results which reflect historic economic activity. From January to December 2022, the state announced total capital investment of $10.27 billion, the single largest year in state history. That investment represents 120 projects and the creation of 14,083 new jobs.
Industry recruitment soared in multiple categories in 2022. The record-breaking capital investment of $10.27 billion reflects a 118% increase over 2017, and announced investments in rural South Carolina in 2022 increased 30% over 2017. While domestic-based companies represented the majority of announced investments, overall foreign direct investment (FDI) in 2022 increased 371% over 2021.
In Union County, according to Supervisor Phillip Russell’s report to council, Union County had $198.7 million in new investment, with 560 added new jobs. In other economic development news, the county received $1 million from SC Commerce for a reimbursable grant to MycoWorks to offset the cost of sitework and construction. The county also received $230,000 from Broad River Electric Cooperative to use as a grant incentive for a prospective company to locate at the Trakas site.