COLUMBIA, S.C. - Toray Industries, Inc., a Tokyo-based manufacturer of fibers and textiles, plastic resins, films and carbon fiber compositematerials, has selected Spartanburg County, S.C. for its next global facility. The $1 billion investment over the next decade is expected to create 500 new jobs and represents one of the largest initial capital investments in South Carolina's history.
Toray has acquired approximately 400 acres in Spartanburg County for its future business expansion. The site is located along Highway 290 in Moore, with access to Interstates 26 and 85. The Spartanburg facility will offer proximity to major customers in both the United States and in Latin America.
According to a Toray announcement released Monday, the company plans to actively invest its resources to meet demand for its advanced material business base. Toray had already been considering a plan to locate a new, high-performance carbon fiber production facility to serve as a major supplier to the aerospace industry.Toray is the world's largest producer of carbon fiber, which has applications ranging from golf clubs to aircraft to natural gas pressure vessels.
Toray's acquisition of the commercial land in South Carolina is part of the company's strategic business expansion in growth fields and growth regions, which includes North America and Latin America, in addition to Asia.
Toray views the United States as a key expansion market for the company due to the revival in manufacturing that is pushing demand for advanced materials, particularly those used in the aerospace and energy-related industries. Aerospace in South Carolina is a burgeoning industry, with more than 200 aerospace companies employing around 20,000 South Carolinians.