Spartanburg County Attracted $745 Million in New Investment in 2024

People standing next to spools of wire.
AFL Manufacturing

In 2024, OneSpartanburg, Inc. landed 23 economic development projects on behalf of Spartanburg County and the City of Spartanburg, resulting in a total of $745 million in capital investment and the creation of 1,220 new jobs.

The investment total equates to about $2.04 million being invested in Spartanburg County each day over the course of the year.

OneSpartanburg, Inc. only counts economic development projects the organization had a hand in recruiting to Spartanburg.

“Spartanburg County again performed well, even during a time of uncertainty when it comes to economic development,” said OneSpartanburg, Inc. President and CEO Allen Smith. “Our collective success cannot lead to complacency. We still have miles to go and are unrelenting in our pursuit of every economic opportunity for the people of Spartanburg County.”

Statewide, South Carolina recruited $8.19 billion in capital investment in 2024, with more than 5,500 new jobs announced.

New Spartanburg County projects announced in 2024 included:

  • InnovaSphere: Formerly Palmetto InnovaSphere, the pioneering company headquartered in Spartanburg in 2020. InnovaSphere works to attract innovation and investors in the life-science, biomedical, and digital health start-up spaces to build a pipeline of associated companies statewide.
  • Munich Composites GmbH: A carbon fiber bicycle rim manufacturer, Munich Composites was acquired by an S.C.-based group led by wheel manufacturer Boyd Cycling. Munich Composites, Boyd, and TIME Bicycles, which announced a Spartanburg County investment in 2023, have coalesced to form a bicycle manufacturing cluster in Landrum.
  • Smartpress: A commercial online printing company, Smartpress announced an investment creating 150 new jobs to better serve customers on the East Coast.
  • Omron Automation: Omron, a global leader in industrial automation technology, established its first S.C. operations and plans to expand a 60,000-sq.-ft. facility in Greer.

Companies expanding in Spartanburg County in 2024 included:

  • Keurig Dr Pepper: KDP announced its next-generation, state-of-the-art K-Rounds will be manufactured at a new Spartanburg County facility. The company’s K-Rounds are plastic-free coffee pods created from premium coffee beans that are ground, pressed, and wrapped in a protective, plant-based coating.
  • Milo’s Tea: Milo’s announced an expansion in November, allowing the company to install an additional production line and other enhancements to meet increased demand.
  • BENTELER: Leading automotive supplier BENTELER’s Spartanburg plant supplies automotive-welded assemblies and modules to auto manufacturers globally.
  • AFL: Fiber optic product and equipment manufacturer AFL announced it will expand operations to account for increased demand globally.

“What a great year for existing industry expansion across Spartanburg County. Companies we recruited have found success here, and that success has enabled many of them to reinvest in their facilities, their operations, and ultimately, in our people,” said OneSpartanburg, Inc. Chief Economic Development Officer Katherine O’Neill. “It was also an exciting year for several sectors we are heavily courting, including life-sciences and biotechnology, and the soft mobility sector. All indicators are that we have another banner year ahead.”

Written by OneSpartanburg, Inc.