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

URLhttps://www.areadevelopment.com/newsItems/12-15-20
SourceArea Development
Date Published12/15/2023

Additional Reshoring Information:

Company/Division name e-VAC Magnetics
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Total number of jobs (added or to be added):300
Year reshoring announced:2023
Year reshoring implemented or to be implemented:2025
Domestically, the work will be done:In-house
Capital investment ($):500
Country(ies) from which reshored:Germany
City reshored to:Sumter
State(s) reshored to:SC
If relevant, work nearshored to:-
Industry(ies):Primary Metal Products (not including Foundries and Castings)
Product(s) reshoredrare earth permanent magnets
What domestic positive factors made reshoring more attractive?Government Incentives, Impact on domestic economy, Skilled workforce availability/training
Government Incentive dollar amount:$15 million
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