Samsung will spend $380 million on a facility in South Carolina, creating 950 jobs over the next three years, company officials announced Wednesday.
The Japanese company will produce home appliances at a former Caterpillar plant in Newberry County, which is outside the city of Columbia. The facility is expected to be in operation in early 2018.
"Samsung's decision to invest in South Carolina and create nearly 1,000 new jobs here is one that will change the very fabric of the Newberry community," Gov. Henry McMaster said in a news release. "We are excited to know that Samsung will now be an important partner in ushering in an unprecedented period of economic growth and prosperity in our state."
Established in 1969 and employing nearly half a million people globally, Samsung is one of the world's leading builders of televisions, smartphones, wearable devices, cameras, appliances and network systems.
"For nearly 40 years, Samsung has steadily expanded our operations in the United States, creating thousands of jobs and investing billions of dollars in cutting-edge manufacturing facilities, research and development," Tim Baxter, chief executive of Samsung Electronics America, said. "With this investment, Samsung is reaffirming its commitment to expanding its U.S. operations and deepening our connection to its American consumers, engineers and innovators who are driving global trends in consumer electronics."
The S.C. Coordinating Council for Economic Development, a state economic development arm, has approved job development credits for the project.
Samsung began contemplating an expansion of its U.S. production base nearly three years ago and initiated discussions with South Carolina in the fall of 2016, company officials said.
Newberry County was selected, company officials said, because of its skilled workforce, robust supply chain, commitment to public-private partnerships, and its location near Interstate 25, providing access to manufacturers to the north and ports to the south.
©2017 The State (Columbia, S.C.)
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