SC: Report Says South Carolina is a National Leader in Foreign Direct Investment

South Carolina is a national leader in foreign direct investment (FDI), a recent report from leading economic researchers confirmed.

According to the report from SelectUSA and Moody's Analytics, South Carolina is the top state in the country for FDI manufacturing projects and jobs created. Researchers analyzed a decade of FDI trends in U.S. manufacturing in developing the report.

The state's strategic location, business-friendly environment and robust infrastructure have attracted significant investments from legacy companies led by the automotive and aerospace industries, the report said.  

“These investments have not only boosted the state's economy but also created numerous job opportunities and enhanced its manufacturing capabilities,” the report noted. “South Carolina's commitment to workforce development and its strong network of suppliers and partners further strengthen its position as a top destination for manufacturing investments.”

To build on South Carolina’s international reputation, S.C. Commerce and economic developers from across the state recently attended the SelectUSA Summit, the nation’s largest, concentrated showcase of the benefits of investing in the United States.

Team South Carolina (above photo), led by Deputy Secretary Ashely Teasdel, included representatives from several of the state’s regional alliances and S.C. Commerce’s five global offices, along with Cristina Paredes, executive director of SC NEXUS. Representatives from the Palmetto State met with more than 80 global companies over two and a half days, and attended networking events hosted by the European Union, France, Germany, Ireland, Japan, Korea, Taiwan and United Kingdom embassies.

During the summit, Mega Metal, a Turkish copper wire manufacturer announced its investment in South Carolina. The company will invest $34 million, representing 135 new jobs.

South Carolina has long been attractive to FDI, as a state that encourages trade and partners with businesses that locate here for growth and success from launch to legacy. In 2024, FDI accounted for more than 30% of all announced capital investment in the state. India, Canada and Japan were the top three sources of such investment.