South Carolina Receives Some Good Economic News

Two events occurred in South Carolina recently which helped bolster the state’s economy. Despite concern on the part of some residents that the construction of a new facility overseas by the French tire manufacturer, Michelin, might ultimately lead to layoffs in South Carolina, a spokeswoman for the company offered assurances that plant would not change the company’s operations in South Carolina. Additionally, people in the state welcomed the expansion of local supply company into an additional location in Columbia.

Michelin, a major producer of tires, employs more people in South Carolina than any other U.S. state. Some 9,400 workers conduct manufacturing operations for the firm at nine locations within the Palmetto State. Last year, Michelin temporarily ceased operations at one of its South Carolina factories in Anderson County, South Carolina, based on a sluggish market. When Michelin announced it would open a second new plant in Leon, Guanajuato, Mexico in late 2018, speculation arose that other tire-manufacturing facilities in South Carolina might face shutdowns in the near future. Michelin currently employs 580 people at a plant in the Mexican city of Queretaro. The new Michelin facility in Mexico will eventually produce as many as 5 million tires annually. The second Mexican plant will serve mainly automakers in the North American marketplace.

Meanwhile, South Carolina-based Murray Supply Company opened a new 42,000 square-foot plumbing supply and distribution center in Columbia. Since 1965, the firm has offered plumbing fixtures to local plumbing companies for the residential and commercial market.