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Area Development - Site Selection, Facility Planning and Workforce Development

Germany-Based e-VAC Magnetics Plans Sumter, South Carolina, Production Operations

12/15/2023
Germany-based e-VAC Magnetics, a manufacturer of rare earth permanent magnets in the Western Hemisphere, plans to establish U.S. operations in Sumter, South Carolina. The approximately $500 million project is expected to create 300 jobs.

The new manufacturing facility, located on 85 acres in the Pocotaligo Industrial Park, will house production of permanent magnets for electric vehicles and defense applications. Production is scheduled for late Fall 2025.

“e-VAC is grateful for the support of the State of South Carolina, Governor Henry McMaster, Senator Lindsey Graham, and Representatives Jim Clyburn and Ralph Norman. We are excited to become a member of the Sumter County community. This project represents a significant commitment by VAC to re-shore critical process and product technology, creating good paying and highly skilled jobs for residents of the community. With this support, we will directly contribute to U.S. energy independence and national security,”” said VAC Group Chief Executive Officer Dr. Erik Eschen.

The S.C. Coordinating Council for Economic Development approved job development credits related to this project. The council also awarded a $13 million Rural Infrastructure Fund grant to Sumter County to assist with the costs of land acquisition, site preparation, road improvements, water and wastewater improvements, and building construction related to this project. Sumter County was also awarded a $2 million LocateSC grant to offset costs associated with infrastructure improvements for the Pocotaligo Industrial Park that are needed for and will benefit e-VAC.

"Our concerted efforts to attract electric-vehicle related businesses to South Carolina continue to pay off in a major way, this time with more than half a billion dollars invested and 300 new jobs for Sumter County. This transformative investment by e-VAC will bolster Sumter's economy while strengthening our already thriving electric vehicle supply chain,” noted Governor Henry McMaster.

e-VAC is part of the VAC Group (VAC), a leading developer of magnetic materials and solutions. The company produces rare earth neodymium-iron-boron (NdFeB) magnets, which are critical to automotive, defense, industrial and renewable energy applications. e-VAC entered into an agreement with the U.S. Department of Defense, which will provide $94.1 million to acquire and install manufacturing equipment, operationalize technical infrastructure, and engineer production lines for the facility.

“Congratulations e-VAC Magnetics on your announcement today. We appreciate the confidence you have demonstrated by selecting Sumter, SC. Your business expansion is indicative of your business success, and we enthusiastically commit to walking in conjunction with you to ensure your continued growth in this region – welcome,” added TheLINK Economic Development Alliance Chairman Gordon Eckley.

Through the readySC program, South Carolina’s Technical College System will help e-VAC recruit and train potential employees.

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