According to local media reports South Carolina officials announced yesterday that the Tokyo-based manufacturer plans to build on a 400 acre site at Moore. The planned investment is thought to be one of the largest in South Carolina's history.

Toray is one of the world's largest producers of carbon fibre and the SC plant will make high-performance carbon fibre for the aerospace industry. Toray Industries president Akihiro Nikkaku told reporters that the property, accessible to Interstates 26 and 85, is close to its U.S. and Latin American customers. The company announced the plans to its board Monday.

The aerospace industry is growing in South Carolina and according to the Department of Commerce there are more than 200 aerospace companies employ 20,000 people in the state.

Gov. Nikki Haley called the Toray's decision a "real game-changer for the Upstate and all of South Carolina."

The state approved $10 million in up-front grants for the project — $7 million toward buying the land and $3 million for infrastructure improvement on it. Toray will also receive tax breaks that would kick in after the state certifies the company has met its jobs and investment targets.

According to The Sate website, which reported the news today, the largest initial investment in South Carolina was heralded in fall 2011, when Bridgestone Americas announced it would spend a total of $1.2 billion on two projects in Aiken County by 2020.

“South Carolina offers Toray Industries an ideal location for our next North American manufacturing facility,” Akihiro Nikkaku told local reporters.  

“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.”

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.

Source: The State