Spartanburg County Attracted $1.1 Billion in Investment in 2023

In 2023, OneSpartanburg, Inc. landed 24 economic development projects on behalf of Spartanburg County and the City of Spartanburg resulting in $1.1 billion in capital investment and the creation of 1,146 new jobs.

This is the third-straight year Spartanburg County has recruited $1 billion or more in economic development projects.

“Our county’s 2023 economic development figures come out to a little over $3 million and 3 new jobs created, per day, over the course of the year,” said OneSpartanburg, Inc. President and CEO Allen Smith. “The ultimate beneficiaries of our success are the people and families who call Spartanburg home, and I’m excited to see what our Spartanburg County’s 2024 turns out to be.”

Statewide, South Carolina recruited $9.2 billion in capital investment, with more than 14,000 jobs announced. It was the second-highest capital investment total in state history.

New Spartanburg County projects announced in 2023 included:

• $425-Million Downtown Development: A consortium of public and private partners including the City of Spartanburg, Spartanburg County, the State of South Carolina, OneSpartanburg, Inc., The Johnson Group, and Diamond Baseball Holdings, an organization that owns and operates select minor league clubs affiliated with Major League Baseball, announced in May that a Minor League Baseball stadium, along with residential, retail, and office space, would come to the Grain District on the western edge of Downtown Spartanburg. Fifth Third Park will have 3,500 fixed seats and a 5,000+ square foot Club room, and will be available year-round for public and private events.
• TIME Bicycles: A leading carbon fiber bicycle manufacturer, TIME announced plans to establish a facility in Landrum, along the soon-to-be-developed Saluda Grade Rail Trail. TIME is an international cycling leader, manufacturing bikes that have won Olympic gold medals, world championships, and numerous stages of the Tour de France. The investment totaled $6.5 million and is expected to create 105 new jobs.
• Milo’s Tea Co.: The well-known beverage company announced it would invest $130 million, creating 103 new jobs, in a Moore facility where its teas and lemonades will be brewed and bottled.
• Taylor Enterprises: Efforts to attract corporate headquarters to Downtown Spartanburg continued when Taylor Enterprises moved C-suite operations downtown.

Expansions announced in 2023 included:

• Cytiva: With an extensive bioprocess product portfolio, Cytiva invested $63 million to expand operations in Spartanburg County.
• Keurig Dr. Pepper: KDP announced it will continue the development of its state-of-the-art coffee roasting and manufacturing facility in Spartanburg County. The company will invest $100 million into the work, creating 250 new jobs by 2027.
• Toray: Having previously paused manufacturing at its carbon-fiber facility due to the pandemic, Toray roared back in 2023 with a $200 million expansion that will create 125 new jobs at its Composite Materials Plant in Spartanburg County.
• Lockhart Power: The utility provider invested $14 million toward key infrastructure expansions in Tyger River Industrial Park North and in Pacolet.

“There is a lot on the horizon that Spartanburg County has to be excited about, and many of our county’s successes wouldn’t be possible without a long list of public and private partners working hard to bring economic opportunities to Spartanburg, ”said OneSpartanburg, Inc. Chief Economic Development Officer Katherine O’Neill.