Materials Innovation Technologies, a research and development company specializing in textiles and composite materials, will invest $5 million to locate a facility in Lake City, South Carolina, according to the South Carolina governor's office. The North Carolina-headquartered company, which plans to create 120 new jobs, will manufacture advanced composite parts for commercial use in a variety of industries, as well as reclaim carbon fiber to be utilized in the manufacturing process. "We are excited about the expansion into Lake City and most appreciative of Florence County and the state of South Carolina for their interest in and support of this project," says Jim Stike, president of Materials Innovation Technologies. The company plans to do most of its hiring in February 2010. No specific information was released regarding financial incentives offered to the company, but it will receive job candidate screening assistance from the state.