Published Feb. 19, 2014
Tokyo-based Toray Industries Inc. plans to spend $1 billion — one of the largest initial capital investments in state history — on a Spartanburg County plant. The manufacturer is expected to create 500 jobs over the next decade.
Toray Industries manufactures fibers and textiles, plastic resins, films and carbon fiber composite materials and will be located on 400 acres along Highway 290 in Moore, with access to interstates 26 and 85.
A Toray statement said the company is making the investment to meet demand for its advanced materials business base. The company was already planning to locate a new, high-performance carbon fiber production facility to supply the aerospace industry. The statement said 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 is one of Boeing's largest suppliers of composite material for the 787 Dreamliner, which is manufactured and assembled in North Charleston and Everett, Wash., according to the company.
Toray Industries President Akihiro Nikkaku said in a statement that South Carolina offers “an ideal location for our next North American manufacturing facility. Here we will have proximity to major customers, both in the U.S. and in Latin American markets.”
Spartanburg County Council Chairman Jeff Horton said in a statement that “Toray's selection of our community for this significant investment continues to demonstrate Spartanburg's ability to compete on the global stage.”
Haley described the investment and jobs as a “real game changer for the Upstate and all of South Carolina.”
"Toray's selection of Spartanburg is a great example of our community's public-private partnership in recruiting quality companies. Our core team of economic development professionals has worked tirelessly to provide Toray with the needed information to come to this decision, and we are appreciative of all the efforts made locally to ensure we got to this point," said Russ Weber, chairman of the Spartanburg Economic Futures Group board.