BMW's $26B impact on South Carolina economy still growing.

It's no clandestine feat that the automotive manufacturing industry has skyrocketed over the last few decades in South Carolina.

BMW Group's Plant Spartanburg has a lot to do with that success and they released a new study showing just how massive the plant's annual economic impact is on the state remaining a significant economic driver for South Carolina, since its inception in the early 1990s.

According to the study conducted by the Darla Moore School of Business at the University of South Carolina, the annual economic impact of the Spartanburg plant totals approximately $26.7 billion, which reflects all goods and services produced in the state both directly and indirectly. In addition to that, the plant supports nearly 43,000 jobs across the state which accounts for 4.8% of all manufacturing jobs in South Carolina making it one of the highest employment multipliers in the state, equaling $3.1 billion in salaries and wages.

"BMW has had a tremendous impact on the state," said Joseph Van Nessen, research economist at the University of South Carolina. "Their arrival in 1992 transformed the Upstate and South Carolina while creating an export-oriented automotive manufacturing cluster that has become one of the state's fastest-growing industry sectors."

Since 2017, the total number of jobs created increased by an average of 4.3% per year, which is more than three times the state average over the same period. From 2011-2021, the state's automotive manufacturing industry increased more than 167%, according to the study, which is more than any other state in the Southeast.

As of 2023, the plant produces more than 1,500 vehicles per day and regularly utilizes more than 500 South Carolina-based suppliers, including more than 40 Tier 1 suppliers. In October, the plant announced its seventh major expansion a $1.7 billion investment to prepare for the production of electric vehicles and to build a $700 million high-voltage battery assembly plant in Woodruff. This most recent investment will continue to increase the plant's economic impact in the future.

"Since coming to South Carolina 30 years ago, BMW has created thousands of sustainable jobs, invested in our people through training, and contributed to educational, cultural and civic programs across the state," said Robert Engelhorn, president and CEO of BMW Manufacturing. "Our success is due to the dedication of our...