Led by Google, Boeing, companies invest $8B in South Carolina in 2024

The South Carolina Department of Commerce has released its 2024 industry recruitment results, with an announced total capital investment of $8.19 billion from January to December 2024.

Existing industries reinforced their commitment to South Carolina by reinvesting in the state through expansion projects, accounting for $5.38 billion of all announced capital investment last year, according to a news release.

The year’s total announced capital investment of $8.19 billion accounts for more than 5,500 announced new jobs.

Google topped the capital investment list for 2024, with its two data centers in Dorchester County and another in Berkeley County amounting to a $3.3 billion investment. Boeing also put a big stake in the ground in the Lowcountry, announcing a $1 billion investment in expanding its two North Charleston sites. Another company hit the $1 billion investment mark in 2024: Birla Carbon will construct a 435,000-square-foot building at the Tri-County Industrial Site in Orangeburg to serve as a next-generation, synthetic graphite continuous production facility.

A complete list of announced projects since 2011 can be found here.

“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 Gov. Henry McMaster in the release. “South Carolina remains dedicated to the success of our businesses, for the economic betterment of our people and the overall strength of our economy. The decision of so many companies to expand and reinvest here underscores the unique value South Carolina offers as a trusted partner in their success.”

The announced capital investment of $8.19 billion includes major investments in the leading industry sectors of 2024 by total investment, according to the release:

• Information Technology and Computer Equipment – $4.1 billion.
• Automotive – $1.3 billion.
• Aerospace – $1 billion.

“The capital investment and economic development activity announced in 2024 reinforces South Carolina’s position as a competitive destination for businesses across many sectors,” said Secretary of Commerce Harry M. Lightsey III in the release. “As outlined in January 2024, S.C. Commerce remains committed to ensuring South Carolina’s long-term economic competitiveness. 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. South Carolina is a dedicated partner for businesses looking to build a legacy, and we look forward to continuing that mission in 2025 and beyond.”

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