Kiswire Inc., a producer of steel cord for the tire industry, will invest $15 million to expand its manufacturing operations in Newberry County, South Carolina, with plans to create 30 new jobs.
“We are excited about this opportunity to expand our manufacturing operations in Newberry County. South Carolina has provided a great home for our company for more than a decade, giving us an excellent business environment and a talented workforce. We look forward to continuing to grow in South Carolina and appreciate all the support we’ve received from state and local officials,” said Dave Minnick, president of Kiswire Inc., the US subsidiary of a South Korean-based firm.
“We celebrate Kiswire’s decision to invest $15 million and create more than 30 jobs in Newberry. Existing businesses like Kiswire continue to choose to increase their footprint in South Carolina, and that shows the strength of our business-friendly climate and strong workforce. Announcements like today’s indicate we’re on the right track with our economic development efforts,” said Gov. Nikki Haley.
Company officials said that the recent growth of the tire industry in South Carolina was a driving factor leading to the expansion. “Today’s announcement is a great example of the further impacts we’re seeing from the investments made by the tire industry firms in the past two years. Kiswire’s decision to expand its Newberry County operations also provides another boost for our state’s manufacturing renaissance,” said Secretary of Commerce Bobby Hitt.
As an incentive the Coordinating Council for Economic Development approved a Governor’s Closing Fund grant of $550,000 for site preparation and road work, along with job development credits which will be available when hiring targets are met.