Research & Development

Xoted Biotechnology Labs establishing operations in Spartanburg County

ctrammell@sccommerce.com — Thu, 08 May 2025 11:43:14 +0000

Xoted Biotechnology Labs establishing operations in Spartanburg County ctrammell@scco… Thu, 05/08/2025 - 07:43

COLUMBIA, S.C. – Xoted Biotechnology Labs (Xoted), a cutting-edge research and development center, announces plans to establish operations in Spartanburg County. The $4.2 million investment marks a significant advancement in sustainable biotechnology and scientific innovation, creating 34 new job opportunities at launch.

Xoted – a subsidiary of DRC Ventures, a global leader in biotech, nutraceutical, and environmental innovation, and TRB Holdings – is dedicated to clean, innovative solutions that enhance lives and empower industries. The company’s new facility, located in the Spark Center at 1875 East Main St. in Duncan, will focus on plant-based detoxification, seed research, and next-generation applications in textiles and cleanroom technology. In addition to product development, the new operation will serve as a hub for STEM education and scientific research.

Operations are already online. Individuals interested in joining the Xoted team should visit the company’s website.

QUOTES

“South Carolina shares our value of integrity, innovation and clean living. It’s the ideal place to build a future-focused, clean manufacturing facility that puts science, sustainability and people first.”
-DRC Ventures Founder and Chief Science Officer Dr. Christina Rahm

“South Carolina continues to attract innovative businesses, and we’re proud to welcome Xoted Biotechnology Labs to Spartanburg County. With a $4.2 million investment and 34 new jobs, this announcement reflects the strength of our workforce and the confidence companies have in our state. We look forward to a strong, lasting partnership with Xoted.”
-Gov. Henry McMaster

“Innovative life sciences companies continue to recognize South Carolina as an ideal destination for locating research and development operations. We proudly welcome Xoted Biotechnology Labs to Spartanburg County and are excited to see all it will achieve in our state in the years ahead.”
-Secretary of Commerce Harry M. Lightsey III

“The research and development hub and the sheer volume of proprietary manufacturing processes Xoted is bringing to Spartanburg County are a win for the entire state of South Carolina. In the last 30 years, our economy has grown more and more thanks to highly skilled STEM jobs. Biotechnology has been called the next frontier, and we are glad to partner with a company that is at the forefront of this space.”
-Spartanburg County Council Vice Chairman and Economic Development Committee Chairman David Britt

Thursday, May 8, 2025 Life Sciences Research & Development $4.2 million investment will create 34 new jobsNew Business

Xoted Biotechnology Labs (Xoted) is establishing operations in Spartanburg County.

The company's $4.2 million investment will create 34 new jobs.

Xoted is a cutting-edge research and development center.

Individuals interested in joining the Xoted team should visit the company's website.

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South Carolina Recognized in Business Facilities’ Latest Rankings

stonnessen@trone.com — Tue, 10 Sep 2024 16:57:57 +0000

South Carolina Recognized in Business Facilities’ Latest Rankings Tuesday, August 13, 2024 stonnessen@trone.com Tue, 09/10/2024 - 12:57

South Carolina is built for the new economy. Industry magazine Business Facilities recently recognized the state for many of the attributes C-Suite executives and small business owners alike have already come to appreciate. From a business-friendly climate and favorable corporate tax climate and beyond, there’s a reason South Carolina remains the leading destination for inbound movers in 2024. S.C. Commerce is ready to help businesses looking to begin their success story in South Carolina today.

Why SC L2L small business headquarters relocation success storiesAdvanced ManufacturingAdvanced MaterialsAerospaceAgribusinessAutomotiveDistribution & LogisticsElectric VehiclesExportingHeadquarters and Corporate OfficesHigh-TechLife SciencesOffice & Shared ServicesRecyclingResearch & DevelopmentSmall BusinessNewsletterOff

United Kingdom-South Carolina Relations Grow

stonnessen@trone.com — Tue, 10 Sep 2024 16:53:17 +0000

United Kingdom-South Carolina Relations Grow Tuesday, August 13, 2024 stonnessen@trone.com Tue, 09/10/2024 - 12:53

In mid-July, Deputy Secretary of Commerce Ashely Teasdel and S.C. Commerce led a state delegation throughout the United Kingdom. The mission trip helped grow bilateral collaboration, strengthen economic ties and build trade relations — continuing to advance the December 2022 memorandum of understanding between the two economies.

South Carolina Deputy Secretary of Commerce Ashely Teasdel (left) presents a gift to United Kingdom Director of International Trade Relations Cathryn Law.

The South Carolina and United Kingdom working group representatives pose together in front of the Admiralty Administrative Building in London.

As the second official convening of the S.C.-U.K. delegation, the group toured England to meet government officials and private industry representatives, discussing procurement, health and life sciences, and transportation and infrastructure.

Other industries including advanced manufacturing, automotive, energy, and research and development remain key areas of exploration for the working group. These conversations come at a pivotal time following the U.K.’s recent elections, helping ensure South Carolina remain a global economic partner and collaborative ally.

Ashely Teasdel United Kingdom England life sciences advanced manufacturing automotive energy research GBDAutomotiveHeadquarters and Corporate OfficesLife SciencesResearch & DevelopmentNewsletterOff

For Business Growth and Success, SelectUSA

stonnessen@trone.com — Tue, 11 Jun 2024 15:51:31 +0000

For Business Growth and Success, SelectUSA Tuesday, June 11, 2024 stonnessen@trone.com Tue, 06/11/2024 - 11:51

Foreign direct investment (FDI) is pivotal to South Carolina’s economy, accounting for more than 30% of announced economic development investments in 2023 alone. Today, over 1,100 internationally owned operations exist statewide — even for those with locations throughout the world, South Carolina-based operations stand out in helping drive global success.

To share the benefits of locating in South Carolina with the world, S.C. Commerce and economic developers from across the state are heading to SelectUSA Summit, the nation’s largest, concentrated showcase of the benefits of investing in the United States.

Meet with state and economic development leadership at Booth 1010 in the exhibit hall to explore South Carolina’s strategic approaches to support FDI and new and existing industry growth, from launch to legacy. Be on the lookout for S.C. representatives at the Regional Technology and Innovation Hubs (Tech Hubs) booth in the U.S. Government Pavilion who will share more about the South Carolina Nexus for Advanced Resilient Energy Tech Hub.

FDI GBD international SelectUSA Tech Hub SC NexusAdvanced ManufacturingAdvanced MaterialsAerospaceAgribusinessAutomotiveDistribution & LogisticsElectric VehiclesExportingHeadquarters and Corporate OfficesHigh-TechLife SciencesOffice & Shared ServicesRecyclingResearch & DevelopmentSmall BusinessNewsletterOff

Tourism Economy Creates Long-Term Impact, Opportunities

stonnessen@trone.com — Tue, 11 Jun 2024 15:43:09 +0000

Tourism Economy Creates Long-Term Impact, Opportunities Tuesday, June 11, 2024 stonnessen@trone.com Tue, 06/11/2024 - 11:43

Source: South Carolina Department of Parks, Recreation and Tourism; Perry Baker

When a state is rich in natural beauty, from the rolling foothills of the Appalachian Mountains to scenic sandy beaches, it’s hard to keep many destinations a secret. The word has long been out that South Carolina is a top stop, with its world-class golf courses and reigning destination cities, to name just a few.

To celebrate the economic impact, cultural contributions and career opportunities the tourism industry generates statewide, Governor Henry McMaster joined the South Carolina Department of Parks, Recreation and Tourism to designate May 19-25, 2024, as “South Carolina Travel and Tourism Week.” This proclamation aligned with National Travel and Tourism Week, established by Congress in 1983 to “elevate the power of travel.”

Governor Henry McMaster joins state, recreation and tourism leaders to celebrate the designation of May 19-25, 2024, as “South Carolina Travel and Tourism Week.” Source: South Carolina Department of Parks, Recreation and Tourism

One in 10 jobs is attributed to the hospitality industry, totaling more than 200,000 economic opportunities throughout South Carolina. As a whole, tourism is estimated to contribute more than $29 billion in economic impact to the state, with tourism-related tax collections reducing the tax burden per resident by nearly $1,000.

Visitors are also finding that South Carolina isn’t just a great place to visit or vacation; it’s a great place to live. Last month, both Charleston and Greenville made the U.S. News’ annual “25 Best Places to Live in the U.S.” rankings. The recognitions don’t stop there — the same cities cracked the top five of Southern Living’s “15 Friendliest Cities in the South” list. Meanwhile, Beaufort and Spartanburg placed in the top five, respectively, of the leisure magazine’s complementary ranking of the South’s 20 friendliest towns.

From bountiful tourism-related job and career opportunities to communities where people love to live, work and play, it’s no wonder South Carolina saw 1.7% growth in 2023, the highest in the nation. For businesses looking to find their next new home, hear firsthand from local executives about the state’s opportunities for businesses, from launch to legacy.

Why SC tourism L2LAdvanced ManufacturingAdvanced MaterialsAerospaceAgribusinessAutomotiveDistribution & LogisticsElectric VehiclesExportingHeadquarters and Corporate OfficesHigh-TechLife SciencesOffice & Shared ServicesRecyclingResearch & DevelopmentSmall Business

S.C. Commerce Names New Global Business Development Director

stonnessen@trone.com — Tue, 09 Apr 2024 15:27:09 +0000

S.C. Commerce Names New Global Business Development Director Tuesday, April 9, 2024 stonnessen@trone.com Tue, 04/09/2024 - 11:27

On April 1, 2024, S.C. Commerce named Annie Caggiano the agency’s new Global Business Development director. Caggiano, who is on her second stint with S.C. Commerce and previously served as a business recruitment manager, brings nearly 20 years of economic development experience to the role.

“South Carolina has a proven track record of helping businesses achieve success from launch to legacy, and Annie Caggiano’s expertise and passion for creating opportunities for all South Carolinians through economic development will help ensure that S.C. Commerce’s industry recruitment track record remains strong,” said Secretary of Commerce Harry M. Lightsey III.

Nurturing Statewide Innovation

stonnessen@trone.com — Tue, 09 Apr 2024 15:25:36 +0000

Nurturing Statewide Innovation Tuesday, April 9, 2024 stonnessen@trone.com Tue, 04/09/2024 - 11:25

April is South Carolina Innovation Awareness Month, a celebration of the state’s rapidly growing technology and innovation ecosystem. S.C. Commerce is among the founding partners of Innovation Awareness Month, alongside the Medical University of South Carolina and South Carolina Research Authority. Together, the group is committed to advancing existing innovation programs and resources, while promoting the ecosystem’s many opportunities.

The economic development community understands the importance of fostering innovation growth, ranging from research and development efforts to innovation and entrepreneurship at a local or startup level. Through the Relentless Challenge grant program, S.C. Commerce has awarded more than $8.9 million to over 80 projects — many of which have found continued success. Learn more about the program and see the full list of 2024 Relentless Challenge grant awardees.

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South Carolina achieves impressive economic development in 2023, including $9.22B announced capital investment

stonnessen@trone.com — Tue, 09 Jan 2024 13:44:14 +0000

South Carolina achieves impressive economic development in 2023, including $9.22B announced capital investment Tuesday, January 9, 2024 stonnessen@trone.com Tue, 01/09/2024 - 08:44

On the heels of a record-setting 2022, economic development throughout South Carolina showed few signs of slowing down in 2023. On Thursday, Jan. 4, 2024, S.C. Commerce announced its 2023 recruitment results, highlighted by a total capital investment of $9.22 billion — the second-highest amount in state history.

Of note, 2023 saw the most individual projects with a capital investment of $1 billion or more. Scout Motors’ $2 billion investment, Albemarle Corporation’s $1.3 billion investment and QTS Data Centers’ $1 billion investment show the continued interest across some of South Carolina’s key industries. Automotive, electric vehicles (EV) and EV batteries, and alternative energy and fuels were the state’s leading industries by capital investment, respectively.

At left, Scout Motors CEO Scott Keogh speaks during the company’s investment announcement press conference on the state capitol grounds Friday, March 3, 2023. At right, AESC US Managing Director Jeff Deaton speaks during AESC Florence’s groundbreaking event Wednesday, June 7, 2023. Both companies announced capital investment that contributed to making automotive, electric vehicles (EV) and EV batteries the state’s leading industry in 2023.

“After a record-breaking 2022, South Carolina has remained committed to ensuring its long-term economic competitiveness and growing reputation as an established destination for transformational industry,” said Secretary of Commerce Harry M. Lightsey III. “Back-to-back years of strong industry recruitment reinforces South Carolina’s commitment to the success of our existing and new businesses, alike. I’m extremely proud of the economic development professionals representing our state who continue to work relentlessly to position us for ongoing success. The announcement of over 14,000 jobs and billions of dollars to be invested into local communities will help increase the economic choices and opportunities for every South Carolinian. Our people remain a key component of our business success, and S.C. Commerce is eager to help create exciting career pathways for current and future residents.”

Investments from both newly announced companies and expansions of existing operations benefit communities of all sizes. Capital investments in rural communities, described as counties categorized as Tier III and IV according to the South Carolina Department of Revenue’s annual county development rankings, accounted for nearly 34% of all statewide investment.

Foreign direct investment (FDI) also continued to play an important role in South Carolina’s economy, accounting for more than 32% of all capital investment in 2023. Familiar global partners made up the state’s top FDI sources, led by Japan, Germany and Canada, respectively.

See the full 2023 Recruitment Overview, including the year’s top 10 projects by capital investment.

capital investment Scout Motors Albermarle Corporation QTS Data Centers automotive EV advanced energy rural FD Japan Germany CanadaAdvanced ManufacturingAdvanced MaterialsAerospaceAgribusinessAutomotiveDistribution & LogisticsElectric VehiclesExportingHeadquarters and Corporate OfficesHigh-TechLife SciencesOffice & Shared ServicesRecyclingResearch & DevelopmentSmall BusinessNewsletterOff