COLUMBIA, S.C. — South Carolina achieved a capital investment of $8.19 billion from Jan. to Dec. 2024, according to a report released on Monday from the S.C. Department of Commerce.
Existing industries made up for $5.38 billion of the total investments last year, reinforcing their commitment to the Palmetto Sate through expansion projects. New operations made up the remaining $2.8 billion.
Domestic investments also led South Carolina’s total investments in 2024, accounting for 67% of all projects.
Of the 33% of international investment sources, India, Canada and Japan contributed the most. Birla Carbon’s investment in Orangeburg County propelled India to the top spot.
The overall leading industries sectors include:
- Information Technology and Computer Equipment – $4.1 billion.
- Automotive – $1.3 billion.
- Aerospace – $1 billion.
“The mutual dedication and commitment between South Carolina and its business community have once again been demonstrated by the companies that have chosen to call our state home,” said Governor Henry McMaster.
According to officials, the 2024 total capital investment accounts for more than 5,500 new jobs.
“By building upon industries in which we have established ourselves as a national leader — like automotive and advanced manufacturing — while unlocking potential in emerging sectors, we can create more high-wage, high-skill economic opportunities,” said Secretary of Commerce Harry M. Lightsey III.