Economic Development in South Carolina

[gs3]

TD Bank announcement tomorrow in Greenville is slated to be 800-900 new jobs and a loan processing center for the company according to my media sources.

Yahoooo!!!!

The TD Bank announcement is.....

1,400 jobs for the I-85 campus, which will be TD's Southeast Regional Hub. Way more jobs than anyone expected! :alc:

Edited November 16, 2011 by gsupstate

[gman430]

WOW: http://www.wyff4.com...594/detail.html

Edited November 16, 2011 by citylife

[jmmiller]

TD Bank creating at least 1,600 new jobs in South Carolina

TD Bank announced plans Wednesday to put a regional hub in Greenville and create 1,600 new jobs in South Carolina over the next five years in one of the largest job announcement in the state in recent years.

Company officials said the bank is expanding its corporate offices off Interstate 85, adding 1,400 jobs there and 200 jobs in Lexington. Currently, 160 people work at the Greenville campus.

http://www.postandcourier.com/news/2011/nov/16/td-bank-creating-1600-jobs-south-carolina/

[GvilleSC]

This is absolutely fantastic news!

[Spartan]

That's the kind of employment news I like to hear!

[krazeeboi]

I only wish they were coming sooner, but overall, a VERY big deal! Glad to see TD Bank is committed to SC!

[gs3]

A few tidbits that are interesting.......

TD is the largest bank in Canada based on market capitalization and 2nd in assets.

TD is one of the 10 largest banks in the US. Number 7 I believe.

The 1600 new jobs are more than South Financial employed in SC in total of corporate employees and branch employees combined.

The 1400 new jobs in Greenville are more than double what SF had planned when they built the campus (they had planned 600 new hires).

TD is an AAA rated bank, one of only 5 in the world with this rating.

TD execs are referencing the Greenville corporate offices as their third hub.

Rumor has it TD is on the prowl for a large takeover of another Southeast based bank.

All in all, an incredible announcement. Another world brand to add to the Greenville corporate list and an all around great thing for SC. A great foundation for future growth. Very proud of SC today. Cheers.

[vicupstate]

The 1400 new jobs in Greenville are more than double what SF had planned when they built the campus (they had planned 600 new hires).

Perhaps that means new construction will occur too.

[gs3]

In other news......found this interesting:

With the 80 million expansion announced at Bosch Rexroth in Greenville County this week, this note in the Greenville News:

"The expansion will make the Greenville County campus the company’s largest manufacturing operation in the Americas"

Also, though small compared to everything happening this week, BASF will be adding 25 employees to their Seneca operation.

[jmmiller]

Amazon growing, spurring additional development

• 
  

  Amazon adding a second center adjoining the one just opened & putting one in the Upstate and another elsewhere.

  
  

• pharmaceutical maker plans to open a facility near Amazon soon; several other prospects are interested.
  
• Interest is taking root in redevelopment of empty stores in Cayce and West Columbia
  
• commercial growth will blossom along the 12th Street corridor that ends in the industrial park where Amazon’s center is located.
  

http://www.thestate....-model-for.html

[gs3]

Greenville based Global Energy Franchise will open a manufacturing plant in the Cherokee County to produce solar panels. Good to see the jobs for Cherokee County and good to see a Greenville based company expanding.

http://www.canadianbusiness.com/article/58199--sc-company-to-open-solar-energy-plant

[krazeeboi]

GKN Aerostructures North America will open a new aerospace components assembly facility in the 150,000-square-foot Miller Valentine speculative building, located at the intersection of I-26 and U.S. Highway 301 in Orangeburg. GKN South Carolina plans to create 278 jobs and invest a minimum of $38 million over the next six years.

Initially, the facility will perform assembly operations for a composite fuselage for Honda’s new HondaJet, a light business aircraft. GKN was awarded the HondaJet contract on Nov. 14.

[krazeeboi]

Apparently the rumors were true and Amazon plans to build its second SC facility in Spartanburg County according to WSPA. The county is preparing to finalize the incentives package.

[gs3]

Bi-Lo, based in Greenville (Mauldin) SC is buying the entire Winn Dixie chain for 560 million. This buyout will add 480 additional stores to the Bi-Lo chain. Most Winn-Dixie stores will continue to operate under the Winn-Dixie name for name recognition, but will be owned and run by Bi-Lo. The buyout will create one of the 3 largest Southeast grocery chains and one of the 15 largest in the US.

Great to see an SC headquartered company grow like this!

http://www.ft.com/cms/s/0/ae68dd52-2a4c-11e1-8f04-00144feabdc0.html#axzz1gzm3mKE0

[vicupstate]

From Greenville News. I sure hope Greenville is the official HQ. That woud give Greenville and SC a Fortune 500 company !!

Bi-Lo, based in Mauldin and Florida-based Winn-Dixie announced today they have agreed to merge in a $560 million transaction.

Winn-Dixie shareholders will received $9.50 a share in the cash transaction, officials said.

The new supermarket organization will have nearly 700 grocery stores and 63,000 employees in eight states in the Southeast.

Officials said they do not expect any store closures as a result of the merger. The combined company’s executive management team structure and headquarters location will be decided as the companies move closer to finalizing the transaction. However, it is expected that the combined company will maintain a presence in both Greenville and Jacksonville.

As recently as August, speculation arose that Bi-Lo, which recently emerged from bankruptcy protection, could be for sale again, raising fears for the company’s 15,000 employees about their future.

Reuters, the international wire service, and Supermarket News, a trade publication, reported the food retailer had drawn interested from competitors Kroger and Publix as well as other strategic and private equity concerns.

Under the new merger agreement, Bi-Lo will acquire all the outstanding shares of Winn-Dixie stock in the merger. The $9.50 share price Bi-Lo is paying for Winn-Dixie stock is a premium of about 75 percent over the closing prices of Winn-Dixie’s common stock on Dec 16.

The transaction was recommended to the Winn-Dixie board by a special committee of eight independent directors advised by independent legal and financial advisors. The board unanimously approved the agreement and recommends shareholders vote in favor of the transaction.

“With no overlap in our markets, the combined company will have a perfect geographic fit that will create a stronger platform from which to provide our customers great products at a great value, while continuing to offer exceptional service, said Randall Onstead, chairman of Bi-Lo.”

The two companies “are both strong regional brands with similar heritages, compelling customer connections, and outstanding employees,” he said. “Both have been an important part of the communities and families they serve, and we look forward to building upon these two iconic brands and serving loyal customers for years to come.”

Following the merger completion expected in the next 60 to 120 days,

Following completion of the merger, plans are to operate the companies under the Bi-Lo and Winn-Dixie banners. Until the agreement is closed, the companies will continue to operate separately.

[krazeeboi]

I keep forgetting that Winn-Dixie still exists since they all but closed down shop in the Carolinas and Georgia. I'm also interested in seeing if the company will be headquartered in Greenville or Jacksonville, since it says this is a merger and not an acquisition (although Bi-Lo will be acquiring WD's outstanding shares).

[CorgiMatt]

The State says headquarters and administrative operations locations are yet to be determined, but that there is speculation that each location will have both. Note: The story in The State is from the AP, but it says BI-LO is Greenville-based. I don't think The State has called Cayce-based SCANA Columbia-based since it moved just across the river. I'm just sayin'.

[CorgiMatt]

But then this article says they may move the headquarters from Mauldin. There are a lot of details to work out.

http://www.columbiabusinessreport.com/news/42032-bi-lo-to-acquire-winn-dixie-for-560m?rss=0

[krazeeboi]

It would be nice to have them headquartered in downtown Greenville.

[GvilleSC]

It would be nice to have them headquartered in downtown Greenville.

That, indeed, would be wonderful!

Phase III of the ONE development? Could be a nice jump-start for that "signature tower" we keep hearing about...

[krazeeboi]

South Carolina reclaimed its lead as the No. 1 exporter of vehicles in 2011, outranking Michigan, and became the top exporter in the nation of tires. Exports from the state jumped 21.4% in 2011 compared to the previous year, ranking it 17th in the nation in exports.

South Carolina’s export growth rate was 14th among states. And the $24.6 billion in goods sold to 198 countries around the world placed South Carolina 17th in nation for total exports. Automobile exports from South Carolina jumped 52% in 2011, surpassing Michigan for the No. 1 spot among automobile exporters. South Carolina previously ranked first in auto exports in 2009, based on the export of BMWs from the Spartanburg County plant. The state also ranked first among U.S. states in tire exports, holding nearly 30% of the share of U.S.-made exported tires.

[vicupstate]

And just think how many MORE tires will be exprted in 5 years when the two new plants are opened.

[vicupstate]

Charlotte-based department store Belk Inc. will open a new eCommerce distribution and fulfillment center in Union County by June. The $4.5 million capital investment is expected to generate 124 new jobs over the next five years, according to the governor's office.

The company's eCommerce growth has been strong, and it needs more space to accommodate demand from its customers, Belk President and Chief Operating Officer John R. Belk said.

The new facility will complement an existing center in Pineville, N.C., and will take over a former Disney facility in the rural Upstate county.

Some good news for Union County:

[vicupstate]

From the Greenville News;

The international cable manufacturing company, Nexans, plans to spend $85 million to build a new high voltage cable plant in South Carolina, creating as many as 200 jobs.

Company vice president Dirk Steinbrink says operations should begin in Berkeley County in 2014. The plant will initially make high voltage cables for underground installations and may expand to make submarine cables.

Nexans is headquartered in France and has operations in 40 countries. It employs 24,500 people worldwide. It had sales of more than $9 billion last year.

[krazeeboi]

Good to see another international company setting up shop in SC!