While visiting the Spartanburg Rotary Club Tuesday afternoon, Gov. Nikki Haley announced the state’s largest single-business investment.
Toray, a corporation based in Tokyo, will invest $1 billion in Spartanburg County with the construction of a carbon manufacturing plant in Moore, S.C., Haley said.
The new plant is expected to provide 500 jobs and will be located on 400 acres off of Highway 290 with interstate access to both 85 and 26.
Akihiro Nikkaku, president of Toray Industries, said the state provided a great opportunity for the company’s North American expansion.
Building the manufacturing facility in South Carolina is a good strategy, he said. The plant’s location will provide easy access to other customers in the U.S. and Latin America.
Haley called Toray’s decision a “real game-changer for the Upstate and all of South Carolina.”
The state approved $10 million in up-front grants for the project — $7 million toward buying the land and $3 million for infrastructure improvement on it, The State newspaper reports. Toray will also receive tax breaks that would kick in after the state certifies the company has met its jobs and investment targets.