JUNE 2023 NEWS
North Charleston, the No. 1 Place for EV-related Manufacturers in the Eastern US
A new report from The Boyd Co. ranks North Charleston as the No. 1 place in the East for EV-related factories. Not only does North Charleston offer “the lowest annual operating costs of any market along the East Coast”, but it also has the $3.5 billion investment by Redwood Materials for a lithium-ion battery recycling plant in nearby Ridgeville, cultivating a thriving EV industry. Read more here and here.
Charleston’s Record-Breaking Tourism Year
According to a new College of Charleston study, area tourism spending hit an all-time-high record of $12.8 billion in 2022, a 21% increase over 2021! Not only did the study see a 6% increase in visitors from 2021, but it also noted an increase in the amount of money spent by these new visitors. Along with record-breaking tourism in general, Charleston’s hotel industry had a record-breaking year of its own, “reporting 4.84 million nights sold, an increase of 4% from the previous record set in 2019”. With tourism on the rise, new restaurants are making their way to the downtown area as well. Read more here and here.
North Charleston Paper Mill Set to Close in August 2023
After 86 years of operation, North Charleston’s landmark paper mill will close permanently on August 31st. WestRock Co. announced in May that the shutdown is due to a “combination of high operating costs and the need for significant capital investment”. The paper mill currently employs about 500 workers, but WestRock stated that they are “committed to assisting [their] North Charleston team with exploring roles at other WestRock locations and outplacement assistance.” Read more here and here.
