SC: Toray Selects Spartanburg County for $1B, 500-Job Expansion in U.S.
21 Feb, 2014
Toray Industries, Inc., a Tokyo-based manufacturer of fibers and textiles, plastic resins, films and carbon fiber composite materials, has selected Spartanburg County, South Carolina, for its next global facility. The $1 billion investment over the next decade is expected to create 500 new jobs and represents one of the largest initial capital investments in South Carolina's history.
Toray has acquired approximately 400 acres in Spartanburg County for its future business expansion. The site is located along Highway 290 in Moore, with access to Interstates 26 and 85. The Spartanburg facility will offer proximity to major customers in both the United States and in Latin America.
According to a Toray announcement released Monday, the company plans to actively invest its resources to meet demand for its advanced material business base. Toray had already been considering a plan to locate a new, high-performance carbon fiber production facility to serve as a major supplier to the aerospace industry.Toray is the world's largest producer of carbon fiber, which has applications ranging from golf clubs to aircraft to natural gas pressure vessels.
Toray's acquisition of the commercial land in South Carolina is part of the company's strategic business expansion in growth fields and growth regions, which includes North America and Latin America, in addition to Asia.
Toray views the United States as a key expansion market for the company due to the revival in manufacturing that is pushing demand for advanced materials, particularly those used in the aerospace and energy-related industries. Aerospace in South Carolina is a burgeoning industry, with more than 200 aerospace companies employing around 20,000 South Carolinians.
"South Carolina offers Toray Industries an ideal location for our next North American manufacturing facility. Here we will have proximity to major customers, both in the U.S. and in Latin American markets. We appreciate the great working relationship we have established with the state and local officials, and we look forward to becoming part of the South Carolina business community." -Akihiro Nikkaku, president of Toray Industries
"It is truly a great day when we get to announce something this significant. Toray Industries' $1 billion investment and 500 new jobs will be a real game-changer for the Upstate and all of South Carolina. We congratulate Toray for their decision to come to Spartanburg County, and we look forward to helping them find continued success and opportunities to grow here in our state." - Gov. Nikki Haley
"South Carolina is well-known as both a manufacturing powerhouse and a top location for foreign-owned firms to set up operations. Toray's decision to invest here underscores our growing expertise in composites and advanced materials as well as our global reputation as being just right for business." -Secretary of Commerce Bobby Hitt
"We are pleased to have Toray join our ever-growing family of international companies in Spartanburg County. Toray's selection of our community for this significant investment continues to demonstrate Spartanburg's ability to compete on the global stage." - Jeff Horton, Chairman of Spartanburg County Council
"We are extremely excited to welcome Toray to Spartanburg County. We know who the golden goose is here in Spartanburg, and that is business and industry. For two decades, we have had an excellent partner in BMW, and we expect Toray to have a similar effect in our region. This is the result of a great partnership between Toray, the State of South Carolina and Spartanburg County, and we appreciate the efforts of the Department of Commerce over the years to see this project to fruition." - David Britt, Chairman of Economic Development Committee, Spartanburg County Council
"Toray's selection of Spartanburg is a great example of our community's public/private partnership in recruiting quality companies. Our core team of economic development professionals has worked tirelessly to provide Toray with the needed information to come to this decision and we are appreciative of all the efforts made locally to ensure we got to this point." - Russ Weber, Chairman of the Spartanburg Economic Futures Group Board of Directors
FIVE FAST FACTS
- $1 billion capital investment represents one of the highest initial investments in the state's history.
- The state officials expect 500 new manufacturing jobs to be created in Spartanburg County.
- Based in Tokyo, Japan, Toray is the largest producer of carbon fiber in the world.
- The facility will be a major supplier of advanced materials to the aerospace industry.
- The new facility will be located on approximately 400 acres along Highway 290 in Moore, S.C., with access to I-26 and I-85.
About Toray Group
Toray Group is an integrated chemical industry group developing its business in 23 countries and regions worldwide. Toray Group fuses nanotechnology into its operations, using organic synthetic chemistry, polymer chemistry and biotechnology as its core technologies. In addition to the Foundation Businesses of fibers & textiles and plastics & chemicals, Toray likewise promotes the global development of IT-related products, carbon fiber composite materials, pharmaceuticals and medical products, environment & engineering including water treatment and progress in other pivotal business fields.