German-based automaker BMW announced Monday it would invest $600 million in its Spartanburg, S.C., plant between 2018 and 2021.
The announcement comes as the company celebrates 25 years of operation at the South Carolina location. The attendance of South Carolina Republican Gov. Henry McMaster and South Carolina Republican Sen. Lindsey Graham underlined the importance of BMW to the Palmetto state’s economy.
BMW’s Spartanburg plant is its largest in the world, employing more than 9,000 workers. The new investment will add 1,000 jobs, according to the company, adding to what is already one of the state’s largest employers.
Spartanburg produced more than 411,000 vehicles in 2016, according to Reuters. The plant produces the company’s popular X models.
“The BMW Group’s success story in the US would not have been possible without the open arms and warm hearts of the people and elected officials in the great state of South Carolina and the surrounding region,” Harald Krüger, Chairman of the Board of Management of BMW, said during a celebration of the company’s 25 years in the state.
“It’s just wonderful. It’s a real thrill to see a great company like this in a great state like ours building, working together and building a great future,” McMaster told the Greenville News. “When BMW came here 25 years ago, they took a risk, the state took a risk. Nobody knew that it would work, but nobody dreamed that it would work as well as it has.”
BMW cites an independent study from the University of South Carolina, Moore School of Business, which said that the nationwide economic impact of BMW’s Spartanburg plant is 38.5 million annually.
Almost 1,400 BMW X models roll off the Spartanburg assembly line each business day, according to the company. Maximum capacity is currently 450,000 vehicles per year.
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